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  • #16
    Seems even trade History in myfxbook has now gone private which I am pretty sure was not the case last week. Indeed I was wondering why the average loss in pips/trade in November had increased well over the previous months and in some trades more than 3 - 4X the average 2 pip SL described by the Vendor in their strategy.

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    • #17
      Originally posted by petermatt View Post
      Seems even trade History in myfxbook has now gone private which I am pretty sure was not the case last week. Indeed I was wondering why the average loss in pips/trade in November had increased well over the previous months and in some trades more than 3 - 4X the average 2 pip SL described by the Vendor in their strategy.
      Hi Peter ..

      Detailed Trade history on myfxbook has always been private with the exception of a month or so ago when I made all the trade details public for a day for the team at Forexsignals to assess - so that part of your statement is not true.

      Lastly - I am very clear and honest on my profile as to what could happen with this signal. I repeat it below in case you failed to read or understand it properly: stops.PNG




      Over the past few months it has been unusual for point 1 to happen more than a couple of times a month - but I never suggest that it cannot happen. When this happens as part of a losing streak then it's obviously going to make things worse and is probably the main weakness within the strategy, During November however, we've had a few more than I would have liked myself - on different days as I still stick to the policy of stop trading for the day once this happens.

      So although I appreciate the strategy has been performing poorly over the last few weeks, there is nothing in the description of the strategy, or even the history on Simple Trader that you could not have looked at in order to determine this for yourself. The strategy has not changed at all.

      I hope this helps and if anyone feels that the description of the strategy needs updating then I'll be happy to take advice and do so.

      I must add that my main concern for considering stopping the signal is not this, but rather the fact that many copiers appear to get a lot of slippage due to the small profits I tend to take.

      Thanks
      Attached Files
      Last edited by themarketbank; 12-04-2016, 04:22 PM.

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      • #18
        Hi I have recently signed up so far the spreads are fairly close to the master, I hope this helps.
        Last edited by fabx; 12-04-2016, 06:48 PM.

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        • #19
          My mistake. No criticism of you signal was intended as I am considering subscribing when you start trading again in the New Year. Fortunately, as your Risk Management was written in words of one syllable or less I was able to understand it - just. My query was about the SL that have been incurred in November and the fact that a number of them are well over what you have experience in the past and whether this is just the "forex luck of the draw" or something different occurred (post news reaction etc).
          Pete

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          • #20
            thanks for confirming fabx - good that spreads are similar but I hope slippage won't be an issue.

            petermatt - I honestly feel it's just bad luck ... but like you and everybody else (and this statement could frighten copiers) - I also hope that the losing streak will stop soon.

            My personal feeling at the moment is that these 4%/5% bigger than normal losses could well be too big to cope with psychologically long term. My original thinking before adding the signal was that the strategy seemed strong enough to make up for the occasional bigger than usual losses.

            Below is the same strategy running on a Demo account with some information that may be useful - So for almost 8 months it has never had a losing month, and the biggest drawdown until recently was about 12% as marked in the below image.

            I guess in summary I would be the first to admit that a string of losses such as the ones experienced in November is bad news for this strategy, and the equity curve in general.
            performance.PNG

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            • #21
              I'm certainly no expert but it may only be a question of liquidity for this time of the year increasing the volatility and directional change in the short term because the longer term performance of your Demo and Live accounts certainly look OK to me.
              Pete

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              • #22
                Originally posted by themarketbank View Post
                thanks for confirming fabx - good that spreads are similar but I hope slippage won't be an issue.

                petermatt - I honestly feel it's just bad luck ... but like you and everybody else (and this statement could frighten copiers) - I also hope that the losing streak will stop soon.

                My personal feeling at the moment is that these 4%/5% bigger than normal losses could well be too big to cope with psychologically long term. My original thinking before adding the signal was that the strategy seemed strong enough to make up for the occasional bigger than usual losses.

                Below is the same strategy running on a Demo account with some information that may be useful - So for almost 8 months it has never had a losing month, and the biggest drawdown until recently was about 12% as marked in the below image.

                I guess in summary I would be the first to admit that a string of losses such as the ones experienced in November is bad news for this strategy, and the equity curve in general.
                performance.PNG
                I think the strategy overall is nice risk/reward. The problem overall between you and the copier is if the copier actually sustains heavier losses than you. A friend of mine messaged me today about the trades he received and they were not profitable enough to cover the commission so hes down further. Maybe incorporating some other trading in between would help with the drawdown.

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                • #23
                  NextGen4FX I agree - I have also considered adding further trading to the strategy in order to compliment the scalping.

                  I just need to be a bit cautious in doing so as copiers of the original strategy may then feel that it's not what they signed up for. Either way it will need to be in the description of the strategy to ensure existing copiers are aware of it.

                  I've decided to stop new copiers from being able to join the strategy as of tonight as it's not my goal to try and make additional money from people if there are others reasons that mean they don't benefit as well.

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                  • #24
                    I would agree with this. I signed up for the strategy as it currently exists.

                    Originally posted by themarketbank View Post
                    NextGen4FX I agree - I have also considered adding further trading to the strategy in order to compliment the scalping.

                    I just need to be a bit cautious in doing so as copiers of the original strategy may then feel that it's not what they signed up for. Either way it will need to be in the description of the strategy to ensure existing copiers are aware of it.

                    I've decided to stop new copiers from being able to join the strategy as of tonight as it's not my goal to try and make additional money from people if there are others reasons that mean they don't benefit as well.

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                    • #25
                      Just a courtesy note to say that I have now stopped this signal due to some users complaining about slippage. I have provided full refunds to those who still had an active subscription even where there were only a couple of days left.

                      December was a positive month and I have a few users asking if I can re-instate the signal because it worked for them. I just don't currently know how to deal with the fact that almost 50% of users appear to see much worst results. So I may or may not add it back ..... unsure.

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