Author Topic: Project 500 pips a month  (Read 9502 times)

Offline forexbaby

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Re: Project 500 pips a month
« Reply #15 on: January 17, 2013, 09:42:15 am »
yup, many providers do that! Tons of floating losses  ???

Offline Amelia

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Re: Project 500 pips a month
« Reply #16 on: January 17, 2013, 03:59:07 pm »
To answer some questions and to clarify misinterpreted of our open record in myfxpedia, our position and objective

In our company and signal account, we strictly adhere to our trading plan / guide line and members will come to our services are also advised to follow the same. We have never exceed the DD of 3% on the worst situation.

To be fair to myfxpedia , one has to analyse our signal account not any other accounts, you can assessing the out come of that signal service account only with all the information given, transparent and verify by 3rd party myfxbook, not on any others accounts.

I realize that some of you guys judge us base on a individual account that does not representative for our company.

Regarding the pips count, average last 6 month is 800 pips a month, when you review the history then you will realize that there are trades in negative but also there are positive trades that go thru to the next month. The way we count the pips is just a simple way to somehow scale our performance.

But what important is the DD in the company signal account never exceed our guideline, and to date the DD is 3%.

Offline fmonera

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Re: Project 500 pips a month
« Reply #17 on: January 17, 2013, 06:51:58 pm »
To answer some questions and to clarify misinterpreted of our open record in myfxpedia, our position and objective

In our company and signal account, we strictly adhere to our trading plan / guide line and members will come to our services are also advised to follow the same. We have never exceed the DD of 3% on the worst situation.

To be fair to myfxpedia , one has to analyse our signal account not any other accounts, you can assessing the out come of that signal service account only with all the information given, transparent and verify by 3rd party myfxbook, not on any others accounts.

I realize that some of you guys judge us base on a individual account that does not representative for our company.

Regarding the pips count, average last 6 month is 800 pips a month, when you review the history then you will realize that there are trades in negative but also there are positive trades that go thru to the next month. The way we count the pips is just a simple way to somehow scale our performance.

But what important is the DD in the company signal account never exceed our guideline, and to date the DD is 3%.

Nice :)

So as I understand it cannot happen that you deliver your 500 pips / month and let floating losing trades opened. Right?

What is the average stop loss of single trades on your strategy?

What is the average take profit of single trades on your strategy?

I suppose MyFXBook is too few time to get any conclusion, for example we cannot expect that the max drawdown will be a 3%, right?

Offline Amelia

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Re: Project 500 pips a month
« Reply #18 on: January 18, 2013, 06:21:56 am »
Hi fmonera,

myfxpedia max stop loss in pips were record as 144.8 pips on EURGBP 14 Sept 2012, average loss 49.23 pips



myfxpedia max gain in pips were record as 208.7 pips on GBP NZD 02 Jan 2013. average win 45.06 pips



myfxpedia winning rate 80%, trade 204 times from July 2011, win 163 times, max drawdown 3,8%



Advance Statistic ; Risk / Reward average Jan 2013  as 1:9



Everything is public and update every 5 mins in  myfxbook http://www.myfxbook.com/members/myfxpedia/project-500-pips-month/420510

Everything is public and update every 0.5 second for our client in myfxpedia platform, notification by emails and sms sent our every-times we have any events

Thanks

Offline fmonera

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Re: Project 500 pips a month
« Reply #19 on: January 18, 2013, 02:15:57 pm »
Hi fmonera,

myfxpedia max stop loss in pips were record as 144.8 pips on EURGBP 14 Sept 2012, average loss 49.23 pips
myfxpedia max gain in pips were record as 208.7 pips on GBP NZD 02 Jan 2013. average win 45.06 pips
myfxpedia winning rate 80%, trade 204 times from July 2011, win 163 times, max drawdown 3,8%
Advance Statistic ; Risk / Reward average Jan 2013  as 1:9
Everything is public and update every 5 mins in  myfxbook http://www.myfxbook.com/members/myfxpedia/project-500-pips-month/420510
Everything is public and update every 0.5 second for our client in myfxpedia platform, notification by emails and sms sent our every-times we have any events


Nice, but I am asking about your strategy not about your published results. I am interested in the following:

1) It seems to me that you say that current live results are a good representation of your strategy. Should we take your published MyFXBook results as the basis for our analysis? Do they represent the statistics of your strategy?

2) In that case, I understand it cannot happen that you deliver your 500 pips / month and let floating losing trades opened. Right?

3) In that case, can you confirm that you will never have a higher stop loss than 144.8 pips? If not, please, tell us what will be the highest.

4) In that case, as you say, if at any point the average Risk/Reward is below 1:9 then the strategy is not valid anymore, right? If not, please, tell us what is the historical risk/reward.

5) In that case, if in the future the drawdown is over 3%, then your strategy is not valid anymore, right? Or MyFXBook stats about drawdown should not be taken into account while the other should?

Please, understand that 6 months live is nice about what happened, but is irrelevant to know what to expect from the strategy. Only the trader is able to know the real statistical information about the historical performance of the strategy.

Offline Amelia

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Re: Project 500 pips a month
« Reply #20 on: January 18, 2013, 04:36:13 pm »
Hi fmonera,

Thank you for interesting is our services. Please find our replies as per your questions:

1. Yes, the myfxpedia signal account representative for our services http://www.myfxbook.com/members/myfxpedia/project-500-pips-month/420510

2. All our trades have SL and target TP, of course we must have SL to enable us to calcualte the lot size per trade, so sometimes the trades trigger just before the month end, we will keep the trades as long as it not hit our SL nor target TP nor the market condition change. So YES it can float to the next month REGARDLESS of negative or positive. Our trade management principle is never have any particular trade that risk more than 2% .

3. Part of trading is not how small or how big your SL, it is how you manage risk percentage per your account. It all come under risk management. We do have higher Stop, our Stop can go up to as high as 200-300 pips but that does not matter if you have your risk management in place. If you have wider Stop then you get in with smaller contract size and if you go in with tighter Stop you will have a bigger lot size but often than not you will be taken out of the trade . But I also would like to bring to your attention that as soon as soon as we see the momentum and market sentiment changes, and the trade is no longer give it a favorable probability , we will reassess the situation and scale down our stop as part of our trade management. You can see from the example in our latest analysis today 18 Jan in EURJPY pair that we have initial SL as 370 pips, however, the market sentiment has changed we manage our trade by scale down our stop and eventually we manually got out with a loss of only 40 pips. Please refer to our post number #84 on page 9 in our Daily review https://www.myfxpedia.com/forum/showthread.php?172-Daily-review-before-London-open-for-myfxpedia-s-Investors&p=2290#post2290

4. We never dream of being constantly archive Risk / Reward of 1:9, we never ever dare to promise such achievement in the future. What we can promise you is if you trade with us, stick to our trading plan you can be in this game / business for a very long time and possibility making a comfortable living. To us trading for a living is not being rich over night but to us the utmost important is CAPITAL PRESERVATION and hold on to your gains. And that's the only way to survive in the trading business.

5. As per our guideline , we always try not to have more than 4 positions open at the same times, but in some cases that many of our pending orders trigger in the same day, we will immediately manage the trades to bring it back to the level that we are comfortable with. To answer your question, if we hold the 4 positions open at the same time, and every single trade have max risk of 2% then the total maximum risk on account will take us up to 8%, but that has never happened to myfxpedia, not yet anyway.

If you have any further question please feel free to ask, we are more than happy to answer
Thank

Offline fmonera

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Re: Project 500 pips a month
« Reply #21 on: January 18, 2013, 04:45:49 pm »
Hi fmonera,

Thank you for interesting is our services. Please find our replies as per your questions:

1. Yes, the myfxpedia signal account representative for our services http://www.myfxbook.com/members/myfxpedia/project-500-pips-month/420510

2. All our trades have SL and target TP, of course we must have SL to enable us to calcualte the lot size per trade, so sometimes the trades trigger just before the month end, we will keep the trades as long as it not hit our SL nor target TP nor the market condition change. So YES it can float to the next month REGARDLESS of negative or positive. Our trade management principle is never have any particular trade that risk more than 2% .

3. Part of trading is not how small or how big your SL, it is how you manage risk percentage per your account. It all come under risk management. We do have higher Stop, our Stop can go up to as high as 200-300 pips but that does not matter if you have your risk management in place. If you have wider Stop then you get in with smaller contract size and if you go in with tighter Stop you will have a bigger lot size but often than not you will be taken out of the trade . But I also would like to bring to your attention that as soon as soon as we see the momentum and market sentiment changes, and the trade is no longer give it a favorable probability , we will reassess the situation and scale down our stop as part of our trade management. You can see from the example in our latest analysis today 18 Jan in EURJPY pair that we have initial SL as 370 pips, however, the market sentiment has changed we manage our trade by scale down our stop and eventually we manually got out with a loss of only 40 pips. Please refer to our post number #84 on page 9 in our Daily review https://www.myfxpedia.com/forum/showthread.php?172-Daily-review-before-London-open-for-myfxpedia-s-Investors&p=2290#post2290

4. We never dream of being constantly archive Risk / Reward of 1:9, we never ever dare to promise such achievement in the future. What we can promise you is if you trade with us, stick to our trading plan you can be in this game / business for a very long time and possibility making a comfortable living. To us trading for a living is not being rich over night but to us the utmost important is CAPITAL PRESERVATION and hold on to your gains. And that's the only way to survive in the trading business.

5. As per our guideline , we always try not to have more than 4 positions open at the same times, but in some cases that many of our pending orders trigger in the same day, we will immediately manage the trades to bring it back to the level that we are comfortable with. To answer your question, if we hold the 4 positions open at the same time, and every single trade have max risk of 2% then the total maximum risk on account will take us up to 8%, but that has never happened to myfxpedia, not yet anyway.

If you have any further question please feel free to ask, we are more than happy to answer
Thank


Excellent answers Amelia.

Now it is much more clear what you offer. If you are able to keep your trading performance and trading style in the terms you just commented above, that will be a very good service. And now any customer knows the rules that you use in your trading.

Many signal providers will start betraying it's own rules just before destroying it's customers accounts. With the guidelines you posted, your customers will be much calmed in case you have some losing trades and a normal drawdown period comes. And in case risk, stops or whatever starts going outside the boundaries you marked, they have an early warning of problems.

I am sure that your clear answers to my questions will grant you much more customers.

Offline Amelia

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Re: Project 500 pips a month
« Reply #22 on: January 18, 2013, 05:34:08 pm »
Hi fmonera,

Thank you for your kind and encouraging words, your questions help us to always keep ourselves in check. First to be better traders and secondly service our clients profitability and efficiently.


Offline mattcons

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Re: Project 500 pips a month
« Reply #23 on: January 19, 2013, 03:27:49 am »
I must be missing something. it clearly states 500 pips per month which sounds great but reading the pricing its $129 if you got a <3k account and if >3k you only get 2% per month and they get the rest.

Don't get me wrong 2% per  month is better than any bank but it seem as if you are risking your money for them to take anything over 2%  ???

Can someone please tell me if i have misunderstood their costings?

Offline websmith

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Re: Project 500 pips a month
« Reply #24 on: January 19, 2013, 04:47:34 am »
Amelia, I have a suggestion. Please, make an expert advisor which will implement your strategy. If it shows good performance during the last 12 years, if it has robustness, I am sure you will get a lot of customers.

Offline Amelia

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Re: Project 500 pips a month
« Reply #25 on: January 19, 2013, 04:21:04 pm »
Hi Guys,

Thank for interesting in our services.

@Mattcons: 

Let say you have an account of 2500$, you're following our signal from our account 5000$ with simple lot size multiplier set as 1. So actually what we trade in our signal account will be duplicate same in your. So you gain the same as us.

This Jan 2013, at this time writing of 19th Jan we have gained 366.8$, so most probably in the end of this month we will have around 400$ in pocket minimum. You pay the fee 129$ and the rest is for you. You set it up, turn off the screen, we do all analysis, put pending, manage everything.. that why we say in myfxpedia Traders will become Investors. You don't work for money, but money works for you.
If we calculate that we make for you 2% and the rest for us, then your account is 2500$, we gain 400$ which is 16% of your account, you will have 2% which is 50$ and the rest is for us 350$. So for account below 3000$ I suggest you pay the fix fee 129$.

But when your account balance is more, let say 10.000$, that 400$ we gain is only 4%, so that why we will give you 2% and the rest is for us. The bigger the account, the % we gain is smaller, and we have to work harder to get your 2%.

For serious account we do not have a fix rate, we will discuss base on base, on the term that our work is fair game and most benefit for clients. 3000$ is just we mean we need to have an anchor point and from that point upward we will calculate by %. I think the correct point should be above 7000$.

Hope it will make you feel like in the zone, if you do have question please state and we are happy to clarify.

@websmith: We love to have, just tell me how to do that. Note that I am not kind of high tech person..

By the way, guy, give us some help in our new forum and website myfxpedia.com, you guy can read the daily review too, which is part of our services.

All the best!

Offline kolanta

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Re: Project 500 pips a month
« Reply #26 on: January 19, 2013, 06:47:02 pm »
I have been following MyFxPedia for a while now . And here are my views on a few aspects of that TC :

1. I don't think that they are letting their trades run away . They just have one trade open at -80 pips . So I don't think that the kind of DD they have in their other systems posted on MyFxBook would happen here .

2. Their system is mostly based on grabbing major tops and bottoms . They were quite good at it in the summer . For the pairs I follow , they were on average at 26 pips from that extreme . And I even considered that their approach was too conservative . Many many trades would give 150 pips or more if you would be a bit patient . Now from December onward , they have struggled a bit more . They are on average , for the same pairs , at 79 pips from the extreme , with some pairs in serious negative pips . I hope that they can get back to the kind of efficiency they had previously .

3. how is it when it turns sour : from what I have seen :

  max open trades : 7

  max DD for a specific pair ; GBPNZD after Chrismas ( 4 positions ) :  -330 , -260 , -182 and -95 pips  , for a DD of -6.28%

  max DD at any point : -7.41%

  max pips against them in one position : 330 pips for a DD of -3.1%

So what do I think of that system after all :

  1. they don't use much leverage , which allows them to be in large negative pips without hurting their equity too much .
  2. if you want to invest , I think that you have to consider more than the 5% DD they would take as an exit point . Their exit point could be more like 8% DD ( or even more as they did not exit at 7.4% ).
  3. you have to be patient : some trades lasted more than a month !
  4. they have broken some of their rules during Christmas New Year .
  5. I like that approach of trying to enter at long term extremes . They were brilliant at it in the summer . I really hope they can get back to this in the near future . If they do , doing some homework on your side to have a better exit point and get mega pips is quite possible .

I would not invest heavily until they get better at it again but that way of trading is full of opportunities . Worth following them in the next few weeks  :)






« Last Edit: January 20, 2013, 10:43:29 pm by kolanta »

Offline fxbabe

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Re: Project 500 pips a month
« Reply #27 on: January 20, 2013, 04:12:00 am »

2. Their system is mostly based on grabbing major tops and bottoms .


Speaking from experience, any system that try to grab the tops or bottom may suffer extended dd/blown account.  This kind of system is only good during range bound market but when market started to move heavily in one direction, then you are in big mess.  As I said in another thread, it's like trying to stop a run away train by standing in front of it only to get run over and over again.  Be careful with this kind of system. 


Offline Amelia

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Re: Project 500 pips a month
« Reply #28 on: January 20, 2013, 10:02:11 am »
Hello guys,

@kolanta: thank, look like you have study enough and ready to be an investors.
@all:

We will have our system available in MT4i next week.
We will have our system available in any Trade Copier 3rd party next. Let's us know what is your common use of Trade Copier services and we will arrange to have our services available there.

Again, We are still strongly recommend our clients that the most profit one is still thru our MAM with Axitrader.com.au;our VPS is available also for free with Axitrader.com.au or account above 20.000 also ( if you dont want to share master password with 3rd party )

Offline kolanta

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Re: Project 500 pips a month
« Reply #29 on: January 26, 2013, 07:54:49 pm »
Weekend update :

It was not a good week for them . 7 open trades and about -700 pips for these 7 trades .


I would wait again before investing any real money   :)

 

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