FX Magician Aggressive (High Risk) Signal account

[OutsideTheBoxHK]

Right.
After a couple months passes we see who the traders are who have developed a consistent edge in the market.
Hans just didn't have it. Neither did Magician.
If you want to become profitable (or better at anything in life) you must be truthful in assessing where you are at. As you guys can see, these guys were doing their best, but in the end their drawdown increases beyond being recoverable and they leave. Make some reason up for leaving, but we know what happened.
They should spend their time devising a system that has consistent edge and work on Risk Management plan.

[MrMcmahon]

FXMAGICIAN please update on the current status of the account

[MrMcmahon]

FXMAGICIAN first update your myfxbook and then talk

[Tradersmurf]

Hi Guys,

Unfortunately the trend was too strong and the system has had a setback, I have been looking over the system in the past few days to see how it can be improved moving forward.

I noticed it has been unlisted from SimpleTrader due to balance falling below 3k however the recovery has already began and it's still business as usual for me with a focus on regaining the losses back.

Thanks and great weekend to all.

That is great news. As soon as I receive my payment from the late Nigerian Prince Bokwana Ngoti I will invest in your signal ASAP.

[Billyt]

Any truth to the rumors that the signal was unlisted from SimpleTrader to be renamed/rebranded and newly listed as "FxMan Reborn"? LOL!!!!!

[FX Magician]

Hi Guys,

Unfortunately the trend was too strong and the system has had a setback, I have been looking over the system in the past few days to see how it can be improved moving forward.

I noticed it has been unlisted from SimpleTrader due to balance falling below 3k however the recovery has already began and it's still business as usual for me with a focus on regaining the losses back.

Thanks and great weekend to all.

[primi]

This was again a great lesson. I'm not saying this was the bottom but if it was at least a temporary bottom then he was forced to close trades at the worst possible moment. When you're forced to close trades because you're running out of equity is never the best moment to close them. You need to close them in a way that at least tries to minimize losses. When you're forced to close because you're out of equity is maximizing losses.

[HedgeBitcoin]

A magician never reveals his secret , i cannot find the signal on simpletrader .Has it been removed ?

If the balance goes under 3k the system becomes a Private Trade Copier system.


3 more months before V2 - myfxbook.com/members/PowerPips/b11/2632763

[MrMcmahon]

Meanwhile our genius trader "Magician" closed some trades with a 20 % loss. Equity is now $ 425

He is not responding in his own thread anymore.

A magician never reveals his secret , i cannot find the signal on simpletrader .Has it been removed ?

[MrMcmahon]

Some people are getting so active when they have something to sell

https://www.youtube.com/watch?v=5LgYlq8gKJU

[Hans Bowles]

Hans Bowles SteadyCapture FXMAGICIAN ali66sh
Grid Traders Unite. You got my back, I got yours. Sales pitch after sales pitch. With no eye to the slimy foundation upon which it is built.

[minkw]

Hi all,

seems I'm getting mentioned,

yes I grid and I have been very clear about this always, i personally dont like huge directional plays as if it goes pear shaped its a distaster, steady was going well but then he would load in heavily, most times this worked and he partially closed out but as you can see he took quite a bit of damage,

the reason for gridding is to spread risk, I'm not the best trader in the world, but I do trade for a living, so its important to control risk,

[Tradersmurf]

I would not categorise Min in this grouping. I have analysed his trading and it is much more sound than the list I gave.
He has a firm, respected max drawdown limit of 5%. Much more safe and more trustworthy.
This is a limit from which a recovery can be staged with his average monthly return and sound strategy.

You say, I put you to sleep. Well, I consider that a compliment. Good due diligence and investing with precision and consistency is boring and should be.
That's why many do not achieve the slow and steady gains that lead to compounding capital for oneself and investors. They lack patience and endurance.

minkw plays exactly the same gridding game as the rest of them, only in slow motion. Not sure what else you wrote, as you put me to sleep again...

[OutsideTheBoxHK]

You forgot to include minkw in your list. Btw, some of your posts put me to sleep.

I would not categorise Min in this grouping. I have analysed his trading and it is much more sound than the list I gave.
He has a firm, respected max drawdown limit of 5%. Much more safe and more trustworthy.
This is a limit from which a recovery can be staged with his average monthly return and sound strategy.

You say, I put you to sleep. Well, I consider that a compliment. Good due diligence and investing with precision and consistency is boring and should be.
That's why many do not achieve the slow and steady gains that lead to compounding capital for oneself and investors. They lack patience and endurance.

[Tradersmurf]

Hans Bowles SteadyCapture FXMAGICIAN ali66sh

Grid Traders Unite. You got my back, I got yours. Sales pitch after sales pitch. With no eye to the slimy foundation upon which it is built.
Grid or die.
Over the past 2 years I have followed the stories of ForexSignals traders with a keen analytical eye. This has been my education. Education is not what people WANT to teach you, it's what you learn apart from any type of guidance or subtle manipulation or control of any kind. This is how we truly learn. I wish I had known this before my marriage went south. I could have avoided a lot of needless heartache, loss, and pain.

But here. This story. Again it really does grieve me on both sides. I grieve for all the people who lost money (although there were some profits along the way) and for those who got enticed and rewarded into thinking that this is a good, long-term way to trade / invest.
There simply aren't enough good traders out there, who can make money consistently enough to warrant following them, and then who also retain those gains.
Grid trading does not require:

1. adhering to pre-set limits
2. humility
3. re-assessment after trades that did not go as planned

So how long before other systems go south?
Which ones have invisible rot in them?
Please comment below if you see other systems that experience large open drawdowns over a long period of time.

You forgot to include minkw in your list. Btw, some of your posts put me to sleep.