Attached are the detailed statements and a summary of al trades done till now and all open positions and orders.
There are more then 100 trades per day.
Is this what you mean by calls?
Adamus
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I meant the opening trades. But you've got so many, it would be mad to post them here.
I can only guess at the meaning of the data in the attachments you made - it looks like the report is saying approximately 90% of trades are profitable - which is pure science fiction, so I've probably got that wrong.
I've never seen an equity curve like that. I see now why - you always have around 10 small profits followed by 1 or 2 losses of 10 times the magnitude.
Weird.
Plus there's no slippage or commission in there. That will probably kill the profitability.
I can only guess at the meaning of the data in the attachments you made - it looks like the report is saying approximately 90% of trades are profitable - which is pure science fiction, so I've probably got that wrong.
I've never seen an equity curve like that. I see now why - you always have around 10 small profits followed by 1 or 2 losses of 10 times the magnitude.
Weird.
Plus there's no slippage or commission in there. That will probably kill the profitability.
trendie
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have had a chance to look this over.
Jova, what is your relationship to the system?
are you asking for advice as to its efficacy?
are you the developer and looking for buyers?
have you had a really good look at what the system does?
as per ahardy66s post, if you glance at the wins and losses, you will find that there are a series of wins, followed by occasional losses.
however, when you look at the wins and losses, you also notice that the losses are about 9 to 10 times the size of the wins. earlier on, the losses were 18 to 20 times the size of wins. the wins are enaerly always about $25-30, but losses have been > $460.
recently, the losses are about $200.
even with a 90% succcess rate, your 9 wins can get wiped out with a single loss.
Sept-22nd shows a sequence of 10 or so consecutive losses of between $140 and $275; lets average of $200.
those 10 losses of approx $2,000 wipe out about 60-80 previous wins, given that wins are approx $28.
thats the broad-brush view. now look a bit deeper at the trades themselves.
you will notice that trades are placed, generally speaking, in pairs.
they then have a 15-pip win TakeProfit attached.
one trade will trigger a small win quite soon.
but, the losing trade is left open.
if the market meanders about, and returns, a second profit is taken.
but, if the market shoots of in a trend-like manner, then thats where the huge losses accumulate.
take a look at the open trades section. there are STILL soem Sep-22nd trades open, with a further 8 trades in the red, all over $100; thats another $1,000 of unrealized losses.
maybe price will return to the approx 96.70/80 area. maybe not.
also bear in mind those losses were at one point EVEN higher.
for example, the average price of SELLS is 96.70/80 (for Sept 22), price is now 97.80-ish.
but price in the intervening time has been as high as 98.60-ish.
summary:
why are you continuing to post the statements for this system?
do you understand how the trades work, ie, the principle applied?
do you understand that another one-way thrust upwards will leave those losses higher?
in future, please post the statements again, so we can see the unrealized losses as context for the apparent closed trades.
thanks.
PS: do a search for "Black Swan" in context of trading.
thanks for showing me another way of how not to trade.
Adamus
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Dude, if this system was a horse, they'd have shot it by now. Plus it's customary to say 'thanks' or at least give some kind of sign that you read what the people who gave you some feedback said. This is a 'forum' you know, where people interact, not just an advertising conduit.
Unrellevent? you must be joking. there is a huge difference.
I can trade the same two platforms and win on the Demo which is a mirror of the live, where i loose. Whatever they say, they just want your money.
like all brokers, they have there own ways of trying to stop you making a profit. If you make a profit, they make a loss. They have requotes, delays in quotes and freezing of trading platforms as most other brokers so it is a norm in the trade. That is the reason that everyone wins on demo and looses in live trading - with some types of trading such as scalping.
This come from a gentleman whom I have great respect for his opinions.
I am this best Demo trader the world has, and the worst live trader....lol
Hotch
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I was under the impression slippage wasn't really the main concern.
Even if the accounts worked EXACTLY the same way, demo accounts would still not mean much, as you can have an infinite amount of them, therefore trade lots of different strats over a month, one will probably work, doesn't matter if it doesn't for the next 17 months.
All systems worth trading (mine
), would go tout for business in the city, to people who wouldn't need to go on forums to ask.
Sorry
Even if the accounts worked EXACTLY the same way, demo accounts would still not mean much, as you can have an infinite amount of them, therefore trade lots of different strats over a month, one will probably work, doesn't matter if it doesn't for the next 17 months.
All systems worth trading (mine
), would go tout for business in the city, to people who wouldn't need to go on forums to ask.Sorry
I agree hoggums,
I am a newbie but even i can see the holes, its about 8 inchs from ear to ear.
Concerning slippage, I can't taxate that.
Migfx tells me this is not an issue some people here mentioned it is.
Concerning commision, Migfx doesn't ask a commision their income comes from the spread they told me and not from commisions.
I'm an investor and let my accounts mannage by profitable traders.
I'm doing this for more then 5 years, but only with option traders.
And that works fine.
I never worked with forex traders, that's why I started this thread to gain more information and maybe find some other good forex traders that can mannage an account for me.
Because I'm always looking to diversificate my investments.
This is how I calculate it (but maybe I'm wrong):
There have been 1489 trades
91,61%= 1364 trades were positive, with an average profit of 28,38$= 38 710$ profit.
8,39%= 125 trades were negative, with an average loss of 221,24$= 27 655$ loss.
So the net profit= 38 710- 27 655= 11 055.
That means in my eyes the account is doubled (started from 10 000).
Most probably I'm looking to simple into this, but that's the way I evaluated all my moneymanagers I work with now.
I understand from other comments that this system works best in a ranging market.
So I pulled up a chart of CHF/JPY.
And see that between 18 sept. and 22sept. The price moved up from 93 up to 98,50.
I think for this pair we can speak about a trend or am I wrong?
In case you have( or know of) a betterr system then this, please pm me.
As I'm always looking for diversification of my investments.
Till know this is the best I ever saw( or I'm totally misleaded) but maybe there exist even moneymanagers with greater systems then this.
I'm all ears!
See post n#33
Sorry, but I always need some time to forward some questions to the moneymanager or the broker and wait for their anwsers.
I certainly appreciate the input of you guys and thank you all verry much for that.
Sorry for my slow interaction.
Do you have live trading experience yourself, or just heard about it?
And in case you had, was it with Migfx or another broker?
I'm following this from the first day, and will continue this for several weeks more.
Time is my friend not my enemy.
All systems worth trading (mine
Sorry
As I told before always on the look forr a profitble moneymanager
you comment is interesting,'
I have spent the last 15 year earnining a living from trading.
I will have a good look your Migfx. And believe me if there is a hole I will find it.
Which type of platforn does it run from, does it lock/jam on announcments. Can you scalpP c
Are the bars indicative of the true time frame. etc is a 15 min chart 15min. have you timed this?
How many banks supply the FXdata in or you get thebest fill?
How did you come across thisw platform.
not having a dig, just want to know.
Are there stop hunters?
