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Author Topic: Simpletrader Plutus  (Read 437 times)

Online petersurrey

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Simpletrader Plutus
« on: March 16, 2019, 04:53:08 AM »
Now on first sight this looks like the perfect system - >6% monthly returns <2% drawdown > 12 month apparent track record - tiny lot sizes for a decent account size real money used BUT a VERY dodgy broker - 21incpool - who are unregulated although claim to have offices in London UK and transfer you to an insecure ( presumably offshore) webpage if you try and open an account. They offer just one MT4 platform and provide no details of the people behind the business etc etc.

Now two almost impossibly good return 21incpool based accounts have appeared on simpletrader using a grid/marti approach, which as we all know gives DD>2% if the monthly return is 6%+!! So I have asked ST to confirm the system migration date and will be interested to see just how long their actual trade record is with them.

All trade copy sites should provide a migration date to help potential investors weed out potential dodgy/forged records. Having been scammed once by a broker which produced something similar to this in the past I am very wary of 'perfect' systems. myfxbook have no way of telling whether the results are genuine as anyone can buy a broker licence - and don't do nearly enough to weed out the unregulated dodgy ones.

Much more should be done by these copying sites ( simpletrader/mql5/signalstart) to weed out dodgy broker practices - the only known excepetion being collective2; who will only allow you to use their own reg. broker selection.

https://www.simpletrader.net/signal/10758/Plutus-System.html

https://www.myfxbook.com/members/aceconsistent/reliable-consistent-profits/3150624
« Last Edit: March 16, 2019, 05:15:51 AM by petersurrey »

Offline 5ninefish

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Re: Simpletrader Plutus
« Reply #1 on: March 16, 2019, 06:03:04 AM »
That sure is some miraculous system.  ::) I couldn't draw a straighter growth line with a ruler and pencil. Average trade length of only 4 hours? Impressive. I always said someday a psychic will realize that they can make way more money predicting the market than predicting the future of middle aged housewives.

Offline reinerh

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Re: Simpletrader Plutus
« Reply #2 on: March 16, 2019, 02:26:32 PM »

peter,

this is 100% scam. how people like that even can make it on simpletrader shows to me how desperate they have become.

run and never look back...............................

Offline F1Maniac

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Re: Simpletrader Plutus
« Reply #3 on: March 16, 2019, 10:54:03 PM »
i was looking at this too, too good to be true - surely is. was almost ready to sign up then decided to look into the broker... sure enough dodgy as....

21incpool - call us with an indian phone number... on second thoughts maybe its an honest trader with cheapas broker but i've been here before.... fabricated myfxbook even with the name of reputed broker. this whole signal copying is horrendous minefield to navigate.

looking at mql5 there seems to be some good reviews but its only time before it goes gangbusters like other signals before.

one thingy i would like to understand though is how does a migration date assist in validating? does this mean the data are no longer historical and is posted real time? coz i am guessing with historical data and a broker license you can manipulate all the trades? would be keen to understand this better.

Online petersurrey

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Re: Simpletrader Plutus
« Reply #4 on: March 17, 2019, 01:59:28 AM »
i was looking at this too, too good to be true - surely is. was almost ready to sign up then decided to look into the broker... sure enough dodgy as....

21incpool - call us with an indian phone number... on second thoughts maybe its an honest trader with cheapas broker but i've been here before.... fabricated myfxbook even with the name of reputed broker. this whole signal copying is horrendous minefield to navigate.

looking at mql5 there seems to be some good reviews but its only time before it goes gangbusters like other signals before.

one thingy i would like to understand though is how does a migration date assist in validating? does this mean the data are no longer historical and is posted real time? coz i am guessing with historical data and a broker license you can manipulate all the trades? would be keen to understand this better.

myfxbook MT4 data can be manipulated OR as I have witnessed on darwinex, a previous perfect scalping system was replaced by a longer-term trading strategy after migration for a system using the same name before and after. The good thing with a migration date is it gives a clear line to judge future results from. So even though the trade record may appear perfect up to migration, the only way to really tell is what results they generate after appearing on the broker/trade copy website. I would allow ,say, another 3 months of 'real time' broker records to confirm nothing drastically changes. Darwinex / Collective2 are the leaders in this by providing a clear migration date and/or 'genuine' real time broker records. The very reason why there are fewer decent forex systems on collective2 is that the site avoids dodgy brokers with fake records by only allowing live trade data through one of their approved ( regulated) brokers.

Offline nick3232

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Re: Simpletrader Plutus
« Reply #5 on: April 11, 2019, 05:10:42 PM »
ya 100% scam broker who can fake accs easy thus becoming  complicit with pseudo traders ( this my sane paranoia at it again)

 

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