Fx-Managers Strategy Description

[oportunis]

I will give it another month to recover, hopefully market wont be so crazy as none of the algo systems will work if Trump gets involved in market too much.

I don't like risk reward ratio, it's really bad. If we hit SL we are down 2-4% while winning trades bring only around 0,5%... Some of trades could have been avoided, because they were opened in same direction on correlated pairs which just adds more risk. The latest was long USDCHF and EURCHF, first pair got hit with SL and second is in DD, so 2x risk which is unnecessary.

The system needs to have at least 80% winning trades to be profitable as it is, if this drops it will be average at best. However they said they will top up to 20k by the end of the February, so this gives confidence. We have also important data coming out this week, it would be good if no open trades are prior to release.

[ales]

[dupapa]

Your right the stop loss brings some confidence.

Blown so much money waiting for markets to turn back around

I didn't get the full sl or dd on the last usd buys, only cause I closed manually as expecting usd to go lower.

But then having to manual intervene was not what I was looking for In a signal

Also will be running another month to see how it goes

Good to know some other on this one

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[oportunis]

I also closed few trades, because they were not in line with my view and I avoided 2 losers, but as you said paying signal provider and than still need to manage trades on my own is not what I want. Hopefully market will normalise after some of data is out and Trump's war against strong $ won't have any backing.

Also ales last year market wasn't trending. I would say it was in range most of the time and they still made huge profit, so I hope this losing streak is due to Trump taking a presidential seat and insecurity in the beginning of the year.

[ales]

yep, i hear you there guys.

[laracroft]

By simpletrader statistics I see that the reward / risk ratio is 1 to 3 because not all stop loss is 100 pips.
However, after taking the two stop loss of USDCHF and USDJPY I have raised the risk multiplier on my account (balance risk) 0.10 to 0.15, a sort of recovery mode, hoping that after two consecutive loss there is a positive number of trades
We'll see in February.

Off topic: did you see that FxViper in January showed a 1.73% gain?
I always wanted to risk 3x on my own and now I got a great 5.19%
Unfortunately Jeff now has no MAM accounts in euro which is my currency. He told me that to have a MAM in euro must invest at least EUR 100,000

[oportunis]

I don't get it... They just wrote in connectforex that the average risk is 2% and worst or. max. risk. scenario is 5% per trade and then they open XAUUSD of 0.7 lots on 5k. This is not good risk management... I closed the trade at BE and don't care if it goes in profit as this is way too risky for me. SL is too high and if it goes there it wipes out over 10% of the account. I wrote them if this was a mistake, so now I am waiting for reply. If they will trade such big lot sizes I will deactivate gold trades. The rest of trades are OK, but this one got me scared. At least they added more funds and this adds more confidence to me.

[dupapa]

I was a bit late to noticing the large trade, have closed .70 of 0.77 on a 18k account took a 0.75%loss didn't wait just closed I mean what? I'm on tiny risk,

[oportunis]

They wrote it was a mistake it should have been only 0.07 lots, but due to adding more funds the calculation was wrong. This could became a costly mistake for them, they should have monitored it and closed it at BE like I did. Can't imagine if they manage millions how the investor will react to such rookie mistake. Let's hope for the best...

[laracroft]

A manual input error on the master account: 0.7 lots instead of 0:07. Explains the signal provider on the dashboard simpletrader

[dupapa]

Wow they did an error. Which happens..but to then gamble it's going to go right direction is reckless, do a 2% risk per trade went to a 20% risk trade and it's In hold mode.

Tbh mistakes happen but the actions after to rectify it for me are not good enough, will pull the plug here I hope this doesn't cost people too much.

Seen way too many people hold onto errors resulting in more loss

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[ales]

Unwanted positions should be closed immediately. Basic rule in trading.


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[oportunis]

It looks like this year is not good for this system. Luckily I deactivated gold trading and reduced risk, so no big losess for me. It is strange they do not update anymore. When they are down they should focus more on reasuring clients everything is OK. I will let it run this month, if no recovery than another failed signal for me...

[ales]

Yep, the gold positions arent working... but gotta be fair here to say that the gold price action is kinda messy last few months. Trend is up so they bought the dip, didnt work out so had to cut it which is OK for me. Looks like gold got a risk of falling towards 1180 now for a change.

I tend to stick to signal/trader as long as he doesnt break his rules or his performance is being in red number for 3-4 months in a row. Lets see ...

[Big River Man]

I'd be running a ****ing mile away from this one. Surely they have already broken their rules??? What about that Gold trade open 10x too big and they didn't shut it down straight away??!