AM Forex Copier Discussion

Hi, this service started in February 2019 when the live account was connected to MyFXBook. I cannot show something that does not exist.
This new select group of algorithms is now run on an Amazon server. In relation to the previous strategy that you refer to, we had multiple issues with the ForexVPS servers which caused us trading losses. These were not actually losses from the system, but rather from their restarts and windows updates. We had the one EA which caused us issues ourselves and that EA has been removed from the current group.

In any case, 2 months is NOT enough to validate success in a EA. Atleast 1 year is the minimum, if you want to invest safely. Just my humble opinion. Ofcourse, it all comes down to the risk tolerance of the investor 😄

Hi, that's fine - please wait then if that is your opinion. Extensive live testing has been carried out (on most EA's for more than 1 year) but the EA's have only been placed together on one master account since February 19, hence why we only have history from then showing on this account.

interesting thread to follow :) its a good read

I have joined and signed up with the signals, I will give it a try, and keep open trades private, because they are hidden on the results page i shall not reveal

I just hope the results continue to deliver the same results since started with all trades banked and closed so I can make withdrawals every month.

That's why we trade. To live off profits and make withdrawals.


But its easy to follow equity graph vs banked graph and you can see right now, that the Equity graph, is greater than the banked trades and account is sitting in posive open trades and not negative drawdown

You can see equity crossed above balance so accounts and my account is sitting in a positive floating balance

Keep up the good work

This is a waste of time - you can get more out of trading yourself

With over 30 to 40 open trades in all directions all over the place.

If you ad to close all trades now, this system has made you no money

The only person scoring is the signal provider in his monthly fee and the broker swap rates

It only looks good saying 19 to 20% a month banked, but in the background hidden open trades is a lot of open trades - over 40 sometimes with hundreds of pips drawdown

I paid one month and will be cancelling

Don't waste your money here.

We want profits to withdraw and live off and pay bills.... not play around with peanuts

Look at the graph... you can see banked VS Drawdown

No wonder open trades are hidden - There are too many and will run off the page...

Hello there, that is fine - if it's not too much trouble hold up at that point if that is your assessment. Broad live testing has been completed (on most EA's for over 1 year) yet the EA's have just been set together on one ace record since February 19, thus why we just have history from that point appearing on this record.

Hi 4XSA (sorry I have no idea who you are and emailing us directly would be a good suggestion)

Did you receive my email last week when I mentioned the 2 Axi Trader issues that have cost us over 12% losses?

Giving a system 1 month is hardly fair, especially as you know we've had the 2 broker losses issues, 2 weeks of quiet trading for Easter and then the last 2 weeks of quiet trading conditions.

Despite the recent losses, if you had asked me when we started if I’d be happy at +50% gain in 3 months, I’d take it every time.

Regards,
Andrew

I'm shocked that 'Andrew Mitchem - The Forex Trading Coach' recommends that traders must use this service... I only came over because he recommended this service

Well, with so many open trades, your drawdown way exceeds the equity

How must one live off this... We pay your fees upfront, and there's no profits, Your banked trades only look good but behind the scenes there's plenty open trades with no trading plan.

Just lots of trades all over the place.

So, why must I pay subscription, if there's no profits,

Why trade if you cannot make a profit and pay your bills, so in this case, I must dig into my own pocket to pay for more signals for what ?

 Only drawdown and nothing to show for it...

That's why you hide open trades.. you are catching people, and you living off the signal service , not any profits from trading..

What a waste of time and money...

You just come with excuses and blame everything else... You can't take money from your clients if you can't trade.


What a waste of time. Only person making money is you charging traders for signals that member don't make any money,

I cant withdraw any profits ... There aren't any,,, so why stick around..

Hi 4XSA,

I'm not sure what the purpose of your postings are as the verified results are there for everyone to see, Yes there has been a drop off from the high but as you know (I've emailed you twice regarding this) we have been through 3 spread issues caused by our broker AxiTrader over the past few weeks and that has lost us 15% on the account. You know this is true as I have shown you that AxiTrader have refunded my master account on each occasion and you can also see that on the 'deposits' section of MyFXBook (the account started at $24,000)
You also know that all of the trades on this system are through our algorithms and NOT from our manual trading.
You'd also know that at just $50 per month, we're hardly getting rich from this!
Lastly, it's a subscription - if you don't like +48% gain in 3 months then don't rejoin us.

Having joined Andrew Mitchem’s forex trading course and learnt a lot I enquired with Andrew about joining his copier service. He was very enthusiastic about it. I took out a 3 month subscription as I thought it important to give it a fair run. Oh dear, from day one the program opened loads of trades both buying and selling on the same currency (I know from experience that this is guaranteed to blow your account long term). It does not show S/L or T/P and I understand that its secret but a couple slipped by and showed up on my mt4 account, they showed huge risks S/L 3254 pips T/P 1056 ??? was one example and several more were of a similar losing/risk ratio.
Individual losing trades often exceeded 2% of the balance, many were minus 1 – 1.5 % of my balance. When I emailed Andrew about this he replied, “Please note that the copier is run by my algorithms and has no relationship to the coaching course.” So no risk management at all then!!!!
Many trades open at swap time so started with huge spreads to make up before even thinking about profit.
Another concern I had was that a buy trade was opened then 4 hours later a sell trade for the same amount on the same currency was opened -how is that ever going to make money? (except in kickbacks from the broker!)
I joined mid May and had 240 closed trades and 90 open trades by the end of the month, June 500 closed and 90 odd open. By end of July I had closed 651 trades for an 18% loss in that month alone.
The commissions from Blueberry markets to Andrew must have been huge.
Within 10 days my equity was down by 10% then it started to haemorrhage money going 20 %, 30% and one day even hit 40%.
One day after the system closed trades for losses of over £1300, taking my account from £10415 to £9085. With another £1200 of negative trades still open and going the wrong , I decided to cut my losses with 3 weeks still to run on my 3 month subscription.
The weird thing was AMs Myfxbook often showed the system making a profit when I was losing money (there were even a few profit trades in the history that did not occur on my system). I set my own Myfxbook for my account and believe is due to the way it shows the results as I understand it if you close trades it shows a profit in big numbers but does not factor in the open trades (unless you look at the small print equity figure).
Starting with £10,000 (as I did) if the system closes 5k of positive trades , 15k it shows 50% gain but if you have open losing trades (drawdown) of 50% (50% of 15k = 7.5k) at the same time the chart still shows a positive gain but really you only have 7.5k of your original 10k investment. 75% equity.
At this present time of writing the AMs Myfxbook shows a gain of 20% + but he opened it with 25,817 and his equity (money he could spend if he closed all his open trades) is 20,280?? Now in my world that is a loss…
I believe very soon this account will have some HUGE losses or blow up completely

There are unfortunately a few errors with this comment.
1. It is the rule of 4xsolutions to show stop loss and profit target levels that are not the real levels. Ask them about this if you do not believe me. This prevents people copying the levels.
2. As for the commission levels from brokers, it should be noted that as the signal provider, we have zero knowledge of the subscribers account size, details or broker. How this person thinks we benefited from this is interesting!
3. The changes in results - that would be a question for this person to ask 4xsolutions. I can only assume they have not done this which is strange as they've been paying 4xsolutions for that service and they offer a 24/7 live chat support person who does have access to see their account. If it was important, you would have assumed this has been done rather than simply writing about it here.

Dear TFTC ,
I would rather not get into an email slagging match about your system (suffice to say this system LOSSES money) I had negative equity from day one of joining the copier service.

I am happy to respond to your petty points and the errors in your comment.

1. I totally understand the copy issue but why waste time putting 1 or 2 fake s/l or t/p on the charts ? Just leave them blank. 99%+ were blank anyway. Following your post I asked 4x solutions and they responded,
“Any questions regarding trading strategy, including SL and TP, will need to be directed to your signal provider.
 Please contact the signal provider directly for more information. Any SL or TP placed on the master trades will be copied to your account.

It has posted online that you put up fake tp sl to stop copy trades (“my response”)

We do not modify the trades placed by the master service. Any SL or TP on the trades are placed by the signal provider
Please contact the signal provider directly for more information. Any SL or TP placed on the master trades will be copied to your account”.

So someone seems to be lying!!!

2. So you’re happy to state that you have received no commission, discount, allowance, introduction fee ,incentive for recommending certain brokers ? eg Blueberry or AXI or any other broker ?

3. Already asked 4x that and they said 'Please contact the signal provider directly for more information '

AM says it is an algorithm so speak to the copier service 4x, they say were are only a copier service so speak to the signal provider (AM), hmmmm everyone passes the buck/problem

I did not write this review lightly and spent time over several days adapting it to give a fair summary of the system as I found it. I realize it is easy to make me out as some hater rather than address the real issue of why this system has lost so much money.

Perhaps you could tell the site members how a buy and sell order on the same currency a few hours apart will ever make profit ?

With closed losing trades of $1017 on the 30.7.19 and $987 on the 29.7.19 (which is about 10% of the capital on 2 trades alone) I think you have bigger issues than trying to make me out as some idiot with nothing better than write reviews!

 A quick look on the 2.8.19 showed equity at 13K . 51% of the initial deposit with even more huge losing trades still open, so I could have lost another £3k in the last week (for a total of 50% of my initial deposit) if I had kept using this “wonderful” system.

Until this algorithm can be proven profitable, based on my experience, stay away and save money !