collapse

Author Topic: Balanced FX Portfolios - Forex Copy Trading Accounts  (Read 10494 times)

Online petersurrey

  • DonbonsPrivateGroup
  • Sr. Member
  • *
  • Posts: 1034
Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #210 on: August 11, 2019, 12:16:10 PM »
Very useful lesson in being able to trade profitably for a few months/year and managing a signals service - you really need someone managing the client side if you don't anonymise the service through darwinex or signal trader etc..I have seen so many services fail this way. Comments will affect the trading however much you think they won't. Far better to post your rules upfront and then go silent.

I also think any grid system that hasn't suffered serious DD probably just got lucky, or uses unrealistically low leverage (for <0.5% returns a month as in turtle EUR myfxbook system..). Blackwave has experienced 50%+ DD so we must be careful before jumping to conclusions here, however crazy buying the pound may seem. I agree with DB2 - strict rules must be in place and so that no one is under any illusions when things go pear-shaped - not I will look at reducing the position size if DD hits 10% etc.

Online petersurrey

  • DonbonsPrivateGroup
  • Sr. Member
  • *
  • Posts: 1034
Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #211 on: August 11, 2019, 12:20:01 PM »
With the recent increased volatility in the market, a lot of these grid systems will suffer because the prices can go very far without retracement. The ones that dont cut losers just become one of those hold and pray systems and its just a matter of time these accounts will blow up.

Basically these strategies are just like all those casino betting systems out there that will eventually fail because they do not have a statistical edge over the market. (Except card counting in Blackjack, which is banned by casinos!)

This system is not the first, and certainly wont be the last either. Its really sad to see after so many years people are still falling for them. These signal providers make their growth graphs look pretty for long enough so they can make money from subscribers - until their systems fail. Once the accounts blow up, they set up another system with another nice looking straight line growth and start all over again...yet people still fall for them over and over again :(

Yep - look back at the collapse of the pound in 2008....thousands of pips in weeks - there must be some weakness in human psychology which seems to ignore long term risk for short term gain - just look at global warming :o

Offline vik2001

  • Jr. Member
  • **
  • Posts: 59
Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #212 on: August 11, 2019, 02:01:32 PM »
Blackwave also opened up a buy on the gbp/chf this week gone.
Imo you gotta be crazy trading a buy on the gbp in the market at the moment unless your scalping. They obviously not paying attention to the economic news whilst trading and hoping for a reversal just because its oversold. Yea it will reverse at some point but probably after a crazy DD

Offline Penumbra

  • Jr. Member
  • **
  • Posts: 29
Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #213 on: August 11, 2019, 08:00:44 PM »
Looks like my smartest trade this year, was to not introduce me as signal provider on this board

Online primi

  • DonbonsPrivateGroup
  • Sr. Member
  • *
  • Posts: 1045
Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #214 on: August 19, 2019, 09:19:05 PM »
Myfxbook links suddenly gone, all signals seem to be gone as well, home page gone again. Here ends the story of Balanced FX Portfolios...

Online donbon2

  • Hero Member
  • *****
  • Posts: 2505
Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #215 on: August 19, 2019, 10:21:22 PM »
failing or being wrong is not a crime for being a signal provider - but having some rules and sticking to them is

maybe the lesson from this one is - look for someone with a more broad financial market experience who is not getting caught up in any one position so much.

Online SJWkiller

  • Full Member
  • ***
  • Posts: 137
Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #216 on: August 20, 2019, 04:17:51 PM »
Myfxbook links suddenly gone, all signals seem to be gone as well, home page gone again. Here ends the story of Balanced FX Portfolios...


The guy obviously wasnt ready to provide signals. Now he is trying to sell another system which he has apparently been using on his personal account for a long time. My guess is its even worse than the old one. He would be selling this one from the beginning if it was better than the previous signal ;)


Offline vik2001

  • Jr. Member
  • **
  • Posts: 59
Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #217 on: August 20, 2019, 06:04:42 PM »
Yea he was making excuses and just looking for a way out. I think he didnt understand how much harder it be then he actually thought. Also he hadnt been trading long and lack of experience also played a part.

Offline vik2001

  • Jr. Member
  • **
  • Posts: 59
Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #218 on: August 21, 2019, 02:45:33 PM »
Dan also thanked blackwave for his trading results this week on blackwaves facebook page. So hes not trusting his own trading but yet copying other signals to get profit.

Online SJWkiller

  • Full Member
  • ***
  • Posts: 137
Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #219 on: September 02, 2019, 10:43:07 AM »
We now also know why he ha didnt offer his other, "long term profitable" strategy for copying...


https://www.myfxbook.com/members/Dan_B/balanced-fx-automated-profit/3489205



Online F1Maniac

  • DonbonsPrivateGroup
  • Jr. Member
  • *
  • Posts: 48
Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #220 on: September 04, 2019, 11:24:02 AM »
We now also know why he ha didnt offer his other, "long term profitable" strategy for copying...


https://www.myfxbook.com/members/Dan_B/balanced-fx-automated-profit/3489205
looks like full blown martingale grid now.

 

browse forum

* Recent Posts