Fx-Managers Strategy Description

[Hansen]

I was told by Simpletrader at the end of June that this signal had been disconnected more than 3 weeks previously. I had stayed with this signal on the hope that the trader had a plan to get out of the drawdown: in fact at one point during that 3 weeks the account was near break-even (some of the trades were in profit) so I could have got out if I had known.

There's something wrong with the Simpletrader system where the signal trader has disconnected (and still collects monthly subscriptions) and subscribers aren't told.

Sorry to hear that, greenfield and signal provider has just buried his head in the sand. not trustworthy apparently.

[gbguimaraes]

How is possible follow this signal, people like to lost money.
the trader says that he always use stop in orders, then all the orders are without stop.
Amazing and pay for the service.

[greenfield]

Did this signal stop completely - is anyone still following - seems there has been no new trades since may 12th ... hit and run trader ?

I was told by Simpletrader at the end of June that this signal had been disconnected more than 3 weeks previously. I had stayed with this signal on the hope that the trader had a plan to get out of the drawdown: in fact at one point during that 3 weeks the account was near break-even (some of the trades were in profit) so I could have got out if I had known.

There's something wrong with the Simpletrader system where the signal trader has disconnected (and still collects monthly subscriptions) and subscribers aren't told.

[Hansen]

Did this signal stop completely - is anyone still following - seems there has been no new trades since may 12th ... hit and run trader ?

[ales]

Cheers Martin.

Think ideal time to step back now, you are right.

[oportunis]

They don't reply on forum, even in connectforex they post only when they make profit. The one thing is, they open trade manually but it seems that they don't consider fundamentals, which they should. The biggest profit this month was on GBP, but they opened trade before major news and once the release was out it wasn't that good for GBP, but forex being as it is it spiked up anyway and they made nice profit. If they would exit at the peak it would be even better, but than they opened 2 trades and they eat almost all profit they made. Now with gold they made it back, but still the risk is quite big. Also there is some incosistency with their information. The posted this:"typical exposure is 0.5 standard lots per $10k of deposit. We think this is the best exposure and with a SL causing less than 5% lost (as the worst case)". And we saw the loss can be bigger. I'm watching from the sideline and if I see consistency again I will reactivate, but to me it seems this year is different and even with visible SL it makes signal risky, because a lot of losses in a row were hit and few of them could have been easily avoided. Even if I reactivate signal I will use it at much lower risk.

Another thing is they wrote they will ad more money up to 50k, but I see only withdrawals, which to me doesn't make any sense. Why would you withdraw if you plan to add more funds?

[ales]

That was a nice trade there on gold... but you guys sure with the size? I mean its nice to make 10% in one shot but isnt that too much risk?

tks.

[dupapa]

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??!

Yup run run run away!!!

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[Hansen]

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??!

I'd say that was reckless gambling. they were probably hoping for it to hit home run but it didn't work out. Would have looked nice on the chart if it had worked out but yeah, that's not trading. Just gambling. I had the signal for a while but it was too volatile for my taste. small gains and bigger losses. It could still work out but I remain sceptical - if machine learning was so fantastic, many financial institutions could just fire their quants if that was the case

[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??!

[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 ...

[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]

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


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[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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[laracroft]

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