collapse

Author Topic: Forex Adventures  (Read 4146 times)

Offline rsmereka

  • Full Member
  • ***
  • Posts: 152
    • Future Lab
Re: Forex Adventures
« Reply #30 on: September 14, 2021, 11:46:03 PM »
I have been trying to find the cause of yesterday's 3.2% drop. The signal provider and you did not have this. I never did find the cause. The lot sizes were large (55.03 lots times trades) but the lot sizes have been almost double that.

I also received a call from my Blackbull rep telling me that the lot sizes presented too much risk and gave me a choice between a reduction in leverage to 400:1 and a max of 120 open lots in play or a reduction in leverage to 300:1 without any size limit. I choose 400:1 with the lot limit. I just emailed my rep asking if that:

1. applies to both trading accounts
2. is the lot limit per account or both accounts

I already have two MT4 accounts so I am not considering another account.

I have also reduced the risk multiplier on the Live 1 account to 2x (like you).

I am very suspicious that the basket of trades yesterday was subject to broker interference before they called me.

Offline rsmereka

  • Full Member
  • ***
  • Posts: 152
    • Future Lab
Re: Forex Adventures
« Reply #31 on: September 16, 2021, 01:52:23 PM »
Another mystery drop today of 1.9% on my primary Live1 account.

Another case of the signal provider not recording this loss  :'(

Offline diyforexskills

  • Verified Vendor
  • Hero Member
  • ***
  • Posts: 2423
Re: Forex Adventures
« Reply #32 on: September 16, 2021, 11:47:56 PM »
Nor me, but I am only on a $4K account.


DIY ProTrader Signal Service https://www.diyforexskills.com/signal-service/

DIY DuoTrader Live
https://www.fxblue.com/users/fxduo

Information, rebates and products -
http://www.diyforexskills.com

Offline reinerh

  • DonbonsPrivateGroup
  • Hero Member
  • *
  • Posts: 2850
Re: Forex Adventures
« Reply #33 on: September 17, 2021, 01:47:55 AM »
Another mystery drop today of 1.9% on my primary Live1 account.

Another case of the signal provider not recording this loss  :'(

nope, you had a missing green trade, a sell, it was only 1.6 pips but mega lot size = 10

Offline diyforexskills

  • Verified Vendor
  • Hero Member
  • ***
  • Posts: 2423
Re: Forex Adventures
« Reply #34 on: September 17, 2021, 04:11:23 AM »
Can't help but feel that these large lot sizes have trouble being filled. Judging by relative account size, the sell trade you missed would have been some 120 lot on your account.


DIY ProTrader Signal Service https://www.diyforexskills.com/signal-service/

DIY DuoTrader Live
https://www.fxblue.com/users/fxduo

Information, rebates and products -
http://www.diyforexskills.com

Offline rsmereka

  • Full Member
  • ***
  • Posts: 152
    • Future Lab
Re: Forex Adventures
« Reply #35 on: September 17, 2021, 05:27:35 PM »
Thanks guys,

I agree about fulfilling an open on a trade with a large lot size. It's my %*(#! broker combined with the size of the account combined with the trading style of the signal provider. A toxic mixture. Pi*ses me off.

I dropped my risk on the Live 1 account again. Now at 1X.

Grumble, grumble  >:(

On another note, my Live 2 account running EverGreenFX finally got out of the red and back in (really minimal) profit at $205.54. Now if I can only claw and scrape my way back to where I was, but I doubt it.
« Last Edit: September 17, 2021, 05:36:17 PM by rsmereka »

Offline rsmereka

  • Full Member
  • ***
  • Posts: 152
    • Future Lab
Re: Forex Adventures
« Reply #36 on: September 27, 2021, 04:59:07 PM »
First, some complaints about this site (that I find unusual about this forum in comparison to other forums):

1. I cannot modify any of my posts that are not in the current month. Right now, for example, I cannot modify any post before Sep 1, 2021. This really puts the kaibash to my plan (that I have been using since 2008) of using post #1 of my journal as the current status so people can just look at post #1 as an 'executive summary'.

2. Registered account holders cannot have more than two account references in their signature.

Since I cannot modify post #1, you need to read the entire thread to figure out what I am trading and when I started trading it.

Last Thursday (Sep 23rd), I subscribed to diyforexskills DIYProTrader signal on a new 3K CAD Blackbull Markets Prime account at 400:1 leverage. The account on MyFXBook is:

https://www.myfxbook.com/members/rsmereka/live3au/8977406

Since I can only have two account links in my signature, this account, being the smallest will not be part of my signature.

This account is also published on FXBlue but is locked by a pin because FXBlue puts account numbers visible in certain account records (deposit and transfer).
« Last Edit: September 28, 2021, 10:18:51 PM by rsmereka »

Offline rsmereka

  • Full Member
  • ***
  • Posts: 152
    • Future Lab
Re: Forex Adventures
« Reply #37 on: September 28, 2021, 10:28:09 PM »
Today,

My Live2 account running EverGreenFX recorded a 6K floating profit so I used the opportunity to stop running that signal. By the time I reacted, the 6K profit turned to a 2K profit but I exited cleanly and transferred half of the profit to my Live1 account.

The timing was not ideal (as last week, I opened an additional account and started trading DIYProTrader).

I don't think I want to put DIYProTrader on my 40.5K Live2 account just yet.

So, I have an account not trading anything.

I looked at a few choices from my watchlist and there is nothing that want to trust.

Any suggestions?
« Last Edit: September 28, 2021, 10:39:57 PM by rsmereka »

Offline rsmereka

  • Full Member
  • ***
  • Posts: 152
    • Future Lab
Re: Forex Adventures
« Reply #38 on: October 12, 2021, 04:06:48 PM »
Today,

The last Live 1, My Signal, GBPUSD trade was in reasonable profit today so I manually closed it and cancelled the SignalStart signal subscription. This signal wiped out all but 2K of my accumulated profit.

Now I need to find something to trade on my Live 1 account.

Offline reinerh

  • DonbonsPrivateGroup
  • Hero Member
  • *
  • Posts: 2850
Re: Forex Adventures
« Reply #39 on: October 12, 2021, 07:33:47 PM »

my signal has me stumped to no end, since i dont think his history was faked and i watched his trades like a hawk and was impressed.

it could not have been pure luck = his history and my observed forward time. my manual trading is very very similar to his thats what i liked about his style.

but he let several trades get totally out of bound, large risk too. makes no sense.


Offline rsmereka

  • Full Member
  • ***
  • Posts: 152
    • Future Lab
Re: Forex Adventures
« Reply #40 on: October 12, 2021, 08:43:03 PM »

my signal has me stumped to no end, since i dont think his history was faked and i watched his trades like a hawk and was impressed.

it could not have been pure luck = his history and my observed forward time. my manual trading is very very similar to his thats what i liked about his style.

but he let several trades get totally out of bound, large risk too. makes no sense.
I think megabot was right on the button, but of course, I did not act on the assessment. Revenge trading https://mytradingskills.com/revenge-trading/... (Note: I have no affiliation with this author). Allowing the losses to get out of control and then trying to counteract with suicide lot size revenge trades. Dangerous management on losers.

I also had other issues that no one trading this signal had which revolved around the size of my account (balance), my leverage as set by my broker (Blackbull Markets) and the looney-tunes lot sizing of this signal. It got so scary that my broker rep called me (yeh, this broker calls people... go figure) and issued an ultimatum. Either I had my leverage reduced to 400:1 (from 500:1) and a cap on total lots to 120.0 at any one time or leverage set to 300:1 without any lot cap. I went for curtain #1.

I also increased my SS risk multiplier to 3X from 2X (which is what diyforexskills was running).

Twice after that (i suspect), my broker failed to open a key trade and I lost large sums (-3.2% and -1.5%). I further reduced my SS risk multiplier to 2X after the first lo large loss. I discovered that change was insufficient after the second large loss. I then reduced the SS risk multiplier to 1X.

To put this into prospective, in September, I traded 1,186.35 lots on this signal only.

I managed to exit this signal suffering a large decline form the high point but with my equity in tact and an insultingly small profit considering what could have happened.

Here endeth the lesson.
« Last Edit: October 12, 2021, 09:19:55 PM by rsmereka »

Offline rsmereka

  • Full Member
  • ***
  • Posts: 152
    • Future Lab
Re: Forex Adventures
« Reply #41 on: October 13, 2021, 04:55:44 PM »
Today, I gave the ORDequity For GENERAL ECN Forex Signals signal from SignalStart the boot from my Live 2 account. It started to loose big and opening very large lot sizes.

I put the FXQuasar EA ($279 from Forex Store https://forexstore.com/fxquasar) on my Live 1 account. This EA has accumulated a long live history (since Jul 06, 2020) https://www.myfxbook.com/members/fx_quasar/fxquasar-audusd/9010229 trading with a well known broker (FXOpen).

Offline diyforexskills

  • Verified Vendor
  • Hero Member
  • ***
  • Posts: 2423
Re: Forex Adventures
« Reply #42 on: October 14, 2021, 03:09:38 AM »
Your Live1 myfxbook has not updated since 5 October.

Quasar looks interesting. An EA that does not use indicators, only pure price action and a refund policy if your account goes beyond the max DD of around 38%.


DIY ProTrader Signal Service https://www.diyforexskills.com/signal-service/

DIY DuoTrader Live
https://www.fxblue.com/users/fxduo

Information, rebates and products -
http://www.diyforexskills.com

Offline rsmereka

  • Full Member
  • ***
  • Posts: 152
    • Future Lab
Re: Forex Adventures
« Reply #43 on: October 14, 2021, 05:14:25 PM »
Your Live1 myfxbook has not updated since 5 October.

Quasar looks interesting. An EA that does not use indicators, only pure price action and a refund policy if your account goes beyond the max DD of around 38%.
Thanks for the heads up. I gave MyFXBook a kick on my Live 1 account and the stats are current but not accurate. FXBlue stats are completely different on the same account. F'n MyFXBook and their need for semi-constant intervention and the calculation errors.

FXQuasar had it's first win today. I like the hedging. It greatly reduces the margin requirement. Too early to say for sure but, so far, doing ok.

Add the clause "when using the recommended settings" to the refund condition.

I am using OOTB settings.

I just noticed a quirk in the FXQuasar MyFXBook stats (link in post 41) concerning the trade opened Sep 29 (only trade opened that day) and closed Oct 4. It was a loss at $240.95 but look at the pips... Zero and the gain at -100.0%... WTF I suspect more MyFXBook calculation nonsense (at least that is what I hope it is).
« Last Edit: October 14, 2021, 06:41:48 PM by rsmereka »

Offline jwatts7701

  • Full Member
  • ***
  • Posts: 251
Re: Forex Adventures
« Reply #44 on: October 14, 2021, 06:44:26 PM »
rsmereka, I have serious concerns about the many lengthy histories of martingale histories running on fxopen. I believe that the broker is involved. And I also think that they are ALL by the exact same author!

- this includes 90% of the EAs on the forex store (forex incontrol, forex truck, fx quasar, fx stabilizar, fx diverse, fx adept, fx secret, fx charger etc etc etc....). If you look closely at these, virtually all of them run at fxopen. Virtually all of them are doing martingale on a few pairs. They all have their own similar web pages. THey all pay the same.

I believe that FXOPEN is working with the author of these to inject histories, and given they all martingale, most will blow, or have blown, or have been covered up. And again I am fairly certain they are all stemming from one single author, who is affiliated with FXOPEN. When you been around long enough, you can really start to see through this very easily. I could of course be wrong, but am probably not.

FXOPEN has a very shady past as well - with it's egyption and russian roots.

I dont want to destroy your fun. But do feel the need to warn. You know how it goes with the martins though, just pull profits off teh table. Never, ever, believe you will be able to compound in to a fortune. You can make good money with them, but you must pull profits, or load up after the big one strikes. I have made money with martingales, but only by frequently pulling profits. As soon as I start thinking of them as trustworthy, long term investments, thats when the problems arise.

Its getting sad as well with the ability to trust histories from brokers these days.

« Last Edit: October 14, 2021, 06:46:11 PM by jwatts7701 »

 

browse forum