Blanket blocking by signal/EA/MT4/Indicator providers; eg FOREX21 Discussion

Hi MFB developrs,

I have long subscribed to one of (and I use this only as an example as it probably happens elsewhere) FOREX21 's posts, namely https://www.myfxbook.com/community/trading-systems/powerflow-ea-3rd-acc-wwwforex21com/807392%2c14

The reason I subscribed to this post was that I was looking at one of his services, PowerflowEA.

On joining his 'database' I was also introduced to 'Andrew''s (sometimes signed Alexander) FX PULSE news indicator/EA as well as several other products for sale.

My post is in relation to a couple of points:

NOT ANSWERING/ADDRESSING QUESTIONS WHEN POSED:

Hello Alexander
 
The news indicator seems to work though your instructions as to what is 'past' and 'upcoming' is back to front.
Also, the GMT offset doesn't work. I am +8 but it only works if I set it at 0.
 
What is the 5etc trend indicator based on? Would be handy to have that on each trade - can you turn the news feed off so that you can have it on more than one chart?
 
Yes, I have seen PowerFlow EA and was up 28% until the crash at New Years when it kept piling in the worse the market got and hit the 50% DD.
Then it didn't trade due to the 'hold' period and first day back in was of course the crash the other day and so it kept piling in against the trend so we are currently at -43% of the starting balance.
Strangely enough your charts don't show the same drawdowns - why is that - are you using a different version?

--------------------------------------------------------------------------------
Date: Fri, 16 Jan 2015 01:06:54 -0500
From: [email protected]
To: [email protected]
Subject: Fx Pulse 3.0 - Was everything ok?

Hello Seth, It's Alexander from Forex21.com. Yesterday, you downloaded FxPulse 3.0, and I want to ask if everything was ok with the download/installa


Hello Seth,

It's Alexander from Forex21.com. Yesterday, you downloaded FxPulse 3.0, and I want to ask if everything was ok with the download/installation process, and if you could provide us with some feedback.

What do you like on it?
What additional features would you like to see on it?
Did you find time to take a look at PowerFlow EA?

Thank you very much in advance for helping us making FxPulse 3.0 even better.

Best Regards,
Alexander Collins and Team
Forex 21 | Twitter | Google+ | Facebook
 
 
©2015 Forex21 | Inhamerstrasse 46 | 80331 Munic | Germany
 
 
BLOCKING USERS IF THEY ASK QUESTIONS :

On posting questions om Myfxbook directly on the PowerflowEA indicator feed regarding drawdown, doubling down, grid systems, likelihood of failure Andrew/Alexander assured me that none of these things accured so I elected to try his EA (see refund policy below). but soon discovered his claims of 'can never blow up your account' to be false. Andrew/Alexaner chose to 'block' me rather than entertain any conversation on the parameters of his EA.

The jist of the claims are that 'if you use the setigs it can't blow up your account'.
The settings are 'close all trades at 50% drawdown'

This is essentially what happened to my account on 3 occassions - effectively, - yes you account will go (almost to zero) as each loosing streak halves your account......in my case....35k to 5k in 1 month.


REFUND POLICY ON PRODUCTS SOLD:
Andrew 's reply to a refund request...
 
Hello,

Thank you for your e-mail.

The refund guarantee policy covers 10 days after the purchase - https://www.forex21.com/terms-and-conditions

Sadly - these conditions only become made appearant when someone asks for a refund. When purchasing the refund policy is only described as '100% Quality Guaranteed Unconditional Refund Policy' - so that is no time/result/condition/whatever limitations - essentially - he will deny any request for refund.

RESULT :
My live account was dragged from $35788.88 to $4988 as a result of this EA using the THE RECOMMENDED SETTINGS.

CONCERN:
I feel that MFB should in some way monitor the number of blocked people by a signal/service/EA/Indicator provider as I would be surprised if I was the only one to fall victim a person/company such as this that blocks users becaue they ask 'questions they do not want to answer.......

what you suggested is here, Please vote today!

https://www.myfxbook.com/community/suggestion-box/scammer-detection/898107,1

If you want to tell others about how you were mistreated with Forex21, please post in here - https://www.myfxbook.com/community/general/you-blocked-discussion-groups-please/897614,2#?pt=2&p=7&ts=69&o=897614

I was also blocked by https://www.myfxbook.com/members/Forex21

@ RedRhinoLab
Thank you very much for your comment. How is your “Copy other developers work and resell it in exchange for bitcoins” going?

@CanAm
While I believe you that you didn’t change setfiles itself, I doubt very much that you adjusted the risk according to your balance. Why? It’s because when you look to the equity curve from your screenshot, you can see that it points straight north. I perfectly understand that everybody wants to make as much profit as possible within the shortest possible time but that’s not how trading works.

In comparison, when you take a look to our accounts, you will see that the equity grows slow and steady.

PS: Just saw that you wrote at the end of last year that you are 28% up. Now, as you bought the EA in November, it means that you made almost 30% in one month. That’s great but aiming for 30% per month can work for a short period of time but it is nothing what can work long run.

I bought an EA from this site (https://redrhinofx com/), I then figured out that it was nothing else than a rip off and wanted my money back. The vendor never answered my e-mails and as he accepts only bitcoins I believe my money is gone for good.

@Forex21 - Copy is an insult. What I do is recreate.

@Mirko42 and what item did you buy from me because no one has ever asked for a refund and any customer who has bought from me knows the policy because a real customer always asks before buying. but thanks for trying to spoon feed others lies. Also you have never commented on any of my trading discussions - https://www.myfxbook.com/posts-by-user/Mirko42/148662,1#?pt=10&p=1&ts=11&o=148662 - so I would assume you are lying for what ever reason.

All my EA's are my own code so keep smoking on that pipe.,

RedRhinoLab posted:
@Forex21 - Copy is an insult. What I do is recreate.

Chinese do that a lot too :)

Happy Trading Frank!

Wonderful and very professional discussion. *lol*

@Mirko42

What do you think RedRhino accepts only BitCoins? Sorry mate but you asked to get robbed....and somebody robbed you. Well deserved.

@RedRhinoLab

I think you should make some small improvements to your customer service.

@Stanko777

Are you joking me. You really think this happened?

Stop believing everything that you read.

There's no proof. No emails to support the claim.

Its just some trash talking by some fruit nut

Granted - there was as steep equity curve first (using your preloaded settings and (from memory) about 1% risk) .

Typical of a 'trending' situation where any system can make money.

After raising concerns about the level of 'bad' trades that were being held on to ONLY THEN did you start telling people to use DIFFERENT settings to what the package is shipped as.

Essentially, BUYER BEWARE, yes, even on low settings it can make steady growth UNTIL (and this is where your POSTED results differ to peoples REAL results) in that you don't have the drawdowns that others do. There is obviously some manipulation of stats or manual intervention of trades. I have been contacted by several others in the same predicament that have also been blocked from being able to comment on their progress after asking 'difficult questions'.

The 'IT CAN'T BLOW UP YOUR ACCOUNT' is blatantly false. As it keeps piling into a bad situation hoping for a return to the norm yes it will close you out at 50%, and then it does it again at 50%, then it does it again at 50% (3 times in a short period at low risk and low lot settings in my case), so, if we play with the English language maybe it won't blow the account up, but it will essentially drain it until there is nothing left. In my case I pulled the pin after the third time taking my account from around 30k to 5k.

Again, my fault, Buyer Beware - I should have shut it down after the first one after having seen the way it piles more & more money into bad trades.