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FX Magician Aggressive (High Risk) Signal account

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  • Originally posted by primi View Post
    Equity again down to 35% and no comment from you about the situation. Have you revised max DD again or is your account considered dead already and you're just leaving it in case it does magically survive?

    Apologies for late reply I haven't logged on here for a while. Account is alive and everything is going according to plan, no need to worry.

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    • Originally posted by FX Magician View Post


      Apologies for late reply I haven't logged on here for a while. Account is alive and everything is going according to plan, no need to worry.
      What's your new DD limit then? It was revised to 60% and then reached 65% give or take. So far you did not respect any of your limits anyway so I guess it doesn't even matter. But do let me know.

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      • Originally posted by primi View Post

        What's your new DD limit then? It was revised to 60% and then reached 65% give or take. So far you did not respect any of your limits anyway so I guess it doesn't even matter. But do let me know.
        It's been revised to 75%

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        • Have you made any tests to see if it's ESMA friendly? With your max DD so high (as in ludicrous) and so many open positions, does it come within new margin requirements?

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          • Originally posted by RenkoGuy

            Just close your subscription with this Clown
            No need to be cruel or rude.
            But I review his track record, it is obviously a good return but also obviously a Martingale / add to losers with higher lot sizing when drawdown commences.
            It looks like a white-knuckled hold to losers as long as possible approach is mainly kept.
            As you can see there are NEGATIVE pips and profit this year AND YET POSITIVE percent gain, which means only one thing for such a long period....
            Martingale. Even if it is a good one, still martingale.
            If I am wrong, please correct me.

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            • Originally posted by primi View Post
              Have you made any tests to see if it's ESMA friendly? With your max DD so high (as in ludicrous) and so many open positions, does it come within new margin requirements?
              Yes, all is under control. No need to worry.

              Comment


              • Originally posted by FX Magician View Post

                Yes, all is under control. No need to worry.
                Nothing is under control. You have 0.40 lots open on EURUSD and GBPUSD combined, new ESMA requirements are 1:30 leverage max, can you calculate for me how much margin you need to have these trades open please? Then add 0.12 lots on USDCAD and keep in mind that your equity went as low as $1200 (AUD I think). It blows you out of the water completely!

                Comment


                • Originally posted by primi View Post

                  Nothing is under control. You have 0.40 lots open on EURUSD and GBPUSD combined, new ESMA requirements are 1:30 leverage max, can you calculate for me how much margin you need to have these trades open please? Then add 0.12 lots on USDCAD and keep in mind that your equity went as low as $1200 (AUD I think). It blows you out of the water completely!
                  I like doing maths on these margin requirements type issues.
                  By my calculations...
                  1 std lot requires $1000 margin @ 100:1 leverage
                  1 std lot requires $3000 margin @ 33:1 leverage

                  so .... 0.52 lots open would require approx $1500 or thereabouts. Please also note Joseph deposited $900 into manager capital account on 21 June.

                  Comment


                  • Originally posted by primi View Post

                    Nothing is under control. You have 0.40 lots open on EURUSD and GBPUSD combined, new ESMA requirements are 1:30 leverage max, can you calculate for me how much margin you need to have these trades open please? Then add 0.12 lots on USDCAD and keep in mind that your equity went as low as $1200 (AUD I think). It blows you out of the water completely!
                    Everything is under control. No need to panic.

                    Comment


                    • Originally posted by FX Magician View Post

                      Everything is under control. No need to panic.
                      Margin requirements under new ESMA rules for your open trades were about 2000 AUD and you only had 1200 of equity left at some point. How is that "under control"? That means your trades would have been closed by the broker or in other words a blown account under new rules.

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                      • Originally posted by primi View Post

                        Margin requirements under new ESMA rules for your open trades were about 2000 AUD and you only had 1200 of equity left at some point. How is that "under control"? That means your trades would have been closed by the broker or in other words a blown account under new rules.
                        No nothing would have been closed, my broker has not implemented any new margin changes.

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                        • Originally posted by FX Magician View Post

                          No nothing would have been closed, my broker has not implemented any new margin changes.
                          My question was:

                          "Have you made any tests to see if it's ESMA friendly? With your max DD so high and so many open positions, does it come within new margin requirements?"

                          It's not about your broker. Do you understand the question?

                          Comment


                          • Originally posted by primi View Post

                            My question was:

                            "Have you made any tests to see if it's ESMA friendly? With your max DD so high and so many open positions, does it come within new margin requirements?"

                            It's not about your broker. Do you understand the question?
                            I have already answered your question.
                            Capture.PNG

                            Comment


                            • You have absolutely no idea what you're doing.

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                              • A classic Magicians trick, making things disappear.....why would money be any different.

                                I like replies above answering the question without answering the question, you should run for office

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