Originally posted by monira
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Outside the Box -- Signal and Mt Cook PAMM fund
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Originally posted by Tradersmurf View Post
Hell no, Viper was King Viper! The king of all kings, the alpha Lion. This place was on fire when he was around. Now, its like a kinder garden with a bunch of loonies.
Viper ended up blowing up. If you analyzed his trading, his risk management was terrible. He held EURUSD shorts for like 2 years or something. He carried a huge drawdown and then he deleted his MyFXBook account and moved to the Bahamas and went totally private and off the grid.
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Originally posted by OutsideTheBoxHK View Post
Viper ended up blowing up. If you analyzed his trading, his risk management was terrible. He held EURUSD shorts for like 2 years or something. He carried a huge drawdown and then he deleted his MyFXBook account and moved to the Bahamas and went totally private and off the grid.
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Here's Nick's final post on the FXViper thread here at ForexSignals and how it all blew up and ended.
I've attached an image of how long FXViper would hold trades and would massage his monthly stats (with almost no eye on overall drawdown of equity) just so that investors would keep coming in and the growth curve looked like it was going only up. A bit like what Bernie Madoff did with his Ponzie Scheme. It's ok if both you and your investors have unlimited capital backing them/you.
To be able to ride out the long drawdowns and recover at some point in the future.
Originally posted by Nick View Posthttps://www.myfxbook.com/members/Nic...x-risk/1307966
http://www.myfxbook.com/members/Stea...e-live/1211446-----------------------------------------------------------------------------------------------------------
FXViper1.JPG
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Originally posted by OutsideTheBoxHK View PostHere's Nick's final post on the FXViper thread here at ForexSignals and how it all blew up and ended.
I've attached an image of how long FXViper would hold trades and would massage his monthly stats (with almost no eye on overall drawdown of equity) just so that investors would keep coming in and the growth curve looked like it was going only up. A bit like what Bernie Madoff did with his Ponzie Scheme. It's ok if both you and your investors have unlimited capital backing them/you.
To be able to ride out the long drawdowns and recover at some point in the future.
Originally posted by Nick View Posthttps://www.myfxbook.com/members/Nic...x-risk/1307966
http://www.myfxbook.com/members/Stea...e-live/1211446-----------------------------------------------------------------------------------------------------------
FXViper1.JPG
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Since the days of Viper, fox and many others failures, would you say that the standard of signals that are available now has improved.
Granted there are still some dubious ones.
For example Outside the Box seems to have a lot more protection in place for his subs than the earlier signals.
There are quite a few that seem worthy of consideration now, offering low drawdown and or sticking to their rules when action needs to be taken.
A few that spring to mind are MHD, Satang, Momentum Capture, SFE, Rettangolo and FX4Charlie (before he removed it)
I am sure there are others.
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Originally posted by fabx View PostSince the days of Viper, fox and many others failures, would you say that the standard of signals that are available now has improved.
Granted there are still some dubious ones.
For example Outside the Box seems to have a lot more protection in place for his subs than the earlier signals.
There are quite a few that seem worthy of consideration now, offering low drawdown and or sticking to their rules when action needs to be taken.
A few that spring to mind are MHD, Satang, Momentum Capture, SFE, Rettangolo and FX4Charlie (before he removed it)
I am sure there are others.
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Originally posted by OutsideTheBoxHK View Post[USER="42406"]
"As many on this site are already aware there are numerous unscrupulous signal providers ready to take advantage of 'innocent' investors, however, the MQL5 signal service takes some beating this year with the total loss of investor funds now approaching $5M ( yes million!) with just two signal providers. The signals are then immediately removed from the website, giving the impression that the site offers only 'safe' systems....similar to many other signal provider websites..
The way this works is that even though MQL5 try to flag the more risky systems, there is no stopping the greed and impulsiveness of investors when they see steady double-digit growth month after month, until the subscribers are so many the trader only needs one month's subs to retire comfortably and swiftly loses all interest in his clients.
The latest 'dragon' and 'safe dragon' GBP/JPY 20% month return systems calamity comes swiftly after the loss of a $3M investors funds from a 'no-lose' S&P 'long only' system."
https://www.mql5.com/en/signals/411963#!tab=tab_reviews
https://www.forexsignals.com/forum/forum/signals-from-forexsignals-simpletrader/signals-from-simpletrader-network/736-fajalucky-signal
When I first viewed it, the signal had nearly $3M under management. This guy is a real scammer and was trying to get as many of his followers to hang in there when he was in a 70%+ drawdown. Sadly many lost most or all of their accounts with this one. The only thing I can say at this point is that we are very certain on the ID of this individual and there are about 5 people that fell into one of his managed account scams around a year ago through Skype conversations. He will be on the chopping block really soon.
There are reports that he was attempting to have people setup verified Paypal accounts for him to use for a small price. There were a few people that fell for this as well and is another investigation being done by several outside parties.Last edited by NextGen4FX; 08-30-2018, 10:13 PM.
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5.5% for August
38.2% for 2018 year
New Equity Highs.
Over 1700% in 19 months.
Onward and upward. Finished the month flat. Ready for exciting autumn months of certain volatility.
Will be looking for risk aversion markets in Sept and Oct.
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Well the good thing is that he is trading in a market where the rates are increasing and volatility as well, so if he can keep a steady return in this market he should be able to keep away from massive DD. That said his larges is around 50% which isn't low either.
@OutsideTheBoxHK: How do you see this massive gain in less than two years? Do you fear you will receive a major setback if you keep trading like you are now?Last edited by reaper_unique; 09-27-2018, 06:34 AM.
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Originally posted by reaper_unique View PostWell the good thing is that he is trading in a market where the rates are increasing and volatility as well, so if he can keep a steady return in this market he should be able to keep away from massive DD. That said his larges is around 50% which isn't low either.
@OutsideTheBoxHK: How do you see this massive gain in less than two years? Do you fear you will receive a major setback if you keep trading like you are now?
I just want to be a success, be cautious from stories of those who have failed, and keep my hand on the trigger when I see the opportunities when the market gives them to me.
My target is 5 to 10% on my flagship strategy, and higher for my medium risk and high risk. All performing well.
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No.
Please look at the trade histories, and you will see even this week when (in addition to "core strategy" trades being copied at higher risk) there are days when I capitalize on intra-day opportunities to scalp the market when the market provides these opportunities. Some days there are many additional trades in the High Return and Medium Risk Strategies.
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