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No way this is a real account - exactly 50'000$ deposit with no comment? This is a demo... Besides, isn't Martingale systems a little hazardous? I mean, You go as far as the 8th level in May 2010- 51.2 lots in one trade, and totally 102 lots hanging, and with only 46 pips distance. I'd really like to see the actual equity/balance curve like one would get in a backtest, and I sure hope none of the instruments you trade suddenly goes bananas...

GridsForPips posted:
    No way this is a real account - exactly 50'000$ deposit with no comment? This is a demo... Besides, isn't Martingale systems a little hazardous? I mean, You go as far as the 8th level in May 2010- 51.2 lots in one trade, and totally 102 lots hanging, and with only 46 pips distance. I'd really like to see the actual equity/balance curve like one would get in a backtest, and I sure hope none of the instruments you trade suddenly goes bananas...

Friend, this account is real
note the findings by myfxbook

So Real $50k...with a 419.83% return...
If that were me and it was real...I probably would not be on this site at all...

super, are you absolutely sure Myfxbook tryes the IsDemo() on the account? The only things verified is trades and trading priviliges, not anything else...

Just to be sure, I've just uploaded my FXCM - DEMO account to myfxbook, but when adding I stated it was a real account, if that changes when my records and priviliges are verified You are right, if not...

GridsForPips posted:
    super, are you absolutely sure Myfxbook tryes the IsDemo() on the account? The only things verified is trades and trading priviliges, not anything else...

I agree with you. But you tried to put a account 'DEMO' as 'REAL' and then send MyFxBook to account verification?
Simply is automatically changed to 'DEMO'

Hmmm, you're right. I just can't loose the feeling there's something fishy going on... The EA is for sale at their webpage for 299$ where they also offer managed accounts. Why would anyone sell an EA that makes more returns than their managed accounts and that way ruin their own (Primary?) business???

I have a bad feeling about the hidden broker - they're an investment company, is it impossible to create their own priceserver, that doesn't show whether its demo or not?

If it's legit I would be one of their customers in no time...

In other of Deltafins systems they state FXM as their broker, why not disclose it in the statements?

Soeren,

It is good to be skeptical I believe if you are looking at it for an investment. But to criticize just off the merits of your OWN limitations is a bit challenging. I have personally seen people bring in over 100% per day trading futures consistently. So, you say, 'Well, if that were me, then why would I do all the things that they do... etc..'.

Well, they spend their time trying to help people get a mindset wrapped around making 100% per day IS INDEED possible. So, they don't trade every day, they aren't aggressive in their trading.

This company could be a scam. I signed up with their broker, only to never get an email or any correspondence back which I found very interesting. However, I think it was a blessing as they have since lost 60% on that account since I was ready to wire the 5K.

Making those returns is possible, however, it is also possible to fake it all as well. I also believe that money is not the end goal, object for most people and buying things can only get you so far. If you believe 200K is SOOOOO MUCH money, then you will not get that money anytime soon.

What I have learned is, even if it isn't real, IT COULD BE. Does it serve me to believe it COULD BE! YES!!!!!!!!!!!!!!

Does it serve me to believe it is fraud? NO.... It only creates negative energy, negative thoughts, negative actions, negative trading, negative relationships etc...

You are a smart guy and I like reading your posts. And, I know you wouldn't want me criticizing your great techniques if they were making 400% returns. I am tired of people using this site to market their platforms that are questionable at best (DEMO OR MARTINGALE OR FAKE) without proper warnings and elaboration. The SEC or whatever department should close them down before they hurt people.

Just my 10 cents that really isn't worth the screen space it is taking up. :)

Ohh, wowl ... nice result. Is the crazy pyramid tactic.
Which is in my list of research, just recently get one of this kind of logic but no time to start research yet.

Have you tested on other pair ? Is it GbpUsd the only pair that work great ?

Do you got manually adjust the setting in some times ? Or all the years never change a parameter with free human interrupt ?

Is it 5k account of FXpro micro or real 50k ?

I am sure it is either SIG cents accounts or insatforex cents account dont worry guys

Hi, guys!

This is a real Account at FXM: We have set the Broker to public. FXM doesn't have cent accounts. The EA is also running on other pairs EURUSD is also not so bad. It was running on Demo-Accounts and different pairs. The best results were on GBPUSD so we decided to to take this pair for real trading.

Best regards
Deltafins

I'd like to apologize for all of my previous negative comments, and hope all the best for DeltaFins systems.

At this point I only have one question: How many levels of Martingale before you pull the plug?

We do not need to pull the plug! We are traders!

If there will be a critical situation all buyers will receive an email from us with the investor login to our account automatically and and can trade like we do.

Like you see our account is running for over a year now.

And we do not worry about the nex couple of years.

Best regards
DeltaFins Team

superforex posted:
    

GridsForPips posted:
    No way this is a real account - exactly 50'000$ deposit with no comment? This is a demo... Besides, isn't Martingale systems a little hazardous? I mean, You go as far as the 8th level in May 2010- 51.2 lots in one trade, and totally 102 lots hanging, and with only 46 pips distance. I'd really like to see the actual equity/balance curve like one would get in a backtest, and I sure hope none of the instruments you trade suddenly goes bananas...

Friend, this account is real
note the findings by myfxbook

The broker you list https://www.fxmtrade.com/en/page/14 are a bucket shop running a cracked copy of MT4 server edition or this is a demo account and fxmtrade fudged the server to make it appear as demo. Fxmtrade are regulated by nobody,their UK phone number is a pc routing the calls back to their base Kazakhstan. They have no physical address, no FSA regulation number or Cyprys regulation number, no NFA registration. $50 000 is a lot of money, nobody would place this with a bucketshop, only futures like mbtrading.com or Ducascopy who received their Swiss banking license.

What really happened is you ran 1000 EA's in demo on a back-test and then uploaded only that one demo account that generated 400%. fxmtrade might even be you yourself , because anybody can buy a license for MT4 server edition from metaquotes or just hack the software. There should be a filter to only list reputable brokers.

myfxbook.com can only verify what the server provides. Fxmtrade most probably generated this fake real account themselves and myfxbook.com merely reported what the server says. It is all fiction though, nobody really made 400%. Also note the grammar mistakes and accentuated English giving away the poster as being from Bulgaria , Backwardsganistan or some other Eastern - European semi-banana republic..

stephanusR posted:
    

superforex posted:
    

GridsForPips posted:
    No way this is a real account - exactly 50'000$ deposit with no comment? This is a demo... Besides, isn't Martingale systems a little hazardous? I mean, You go as far as the 8th level in May 2010- 51.2 lots in one trade, and totally 102 lots hanging, and with only 46 pips distance. I'd really like to see the actual equity/balance curve like one would get in a backtest, and I sure hope none of the instruments you trade suddenly goes bananas...

Friend, this account is real
note the findings by myfxbook

The broker you list https://www.fxmtrade.com/en/page/14 are a bucket shop running a cracked copy of MT4 server edition or this is a demo account and fxmtrade fudged the server to make it appear as demo. Fxmtrade are regulated by nobody,their UK phone number is a pc routing the calls back to their base Kazakhstan. They have no physical address, no FSA regulation number or Cyprys regulation number, no NFA registration. $50 000 is a lot of money, nobody would place this with a bucketshop, only futures like mbtrading.com or Ducascopy who received their Swiss banking license.

What really happened is you ran 1000 EA's in demo on a back-test and then uploaded only that one demo account that generated 400%. fxmtrade might even be you yourself , because anybody can buy a license for MT4 server edition from metaquotes or just hack the software. There should be a filter to only list reputable brokers.

myfxbook.com can only verify what the server provides. Fxmtrade most probably generated this fake real account themselves and myfxbook.com merely reported what the server says. It is all fiction though, nobody really made 400%. Also note the grammar mistakes and accentuated English giving away the poster as being from Bulgaria , Backwardsganistan or some other Eastern - European semi-banana republic..

I agree, the broker is fishy. NO doubt.

However, give them the opportunity to use a different broker. :)

I don't see why it would only have to be that broker. :)

I disagree that 50K is oh so much money that it requires comments and that it is too much to trade without such etc...

I martined' a 100K account last fall. Just little ole me. Why can't someone with more experience and more $$ do the same??

Gil

This system has been marked private https://www.myfxbook.com/members/boriskvc/boriskvc/19249 . What was written there is pertinent to this thread.

The account was an obvious fake from Alpari, it is meant to generate the illusion that somebody out there generated 220 winners out of 223. This 'Boris' person for example hasn't posted a single live real-time trade on his stocktwits.com account.

Gambling houses do the same, rig the machines so that the owners , brother's half sister 'wins' a million dollars, draws in all the gamblers. The forex trading houses view their clients as naive simpletons for actually thinking they can beat the market. The lifespan of a retail forex trader like a gambler running through his last $50000 is around two years. During this time the increasingly frustrated trader attends Oliver Velez courses or listens to 'legendary' trader Larry Williams who was fined by the NFA for fraudulent misrepresentation. He lost a couple of million in a fund he managed, which is why he turned to 'teaching'.

'...NFA fines Larry Williams for not reporting to potential clients that, while his personal account in a promotional 1987 contest was very profitable ( a gain of + $902,599 ), his managed accounts for clients lost substantial funds ( - $6,122,281 ). This constituted deceptive and unbalanced promotional material and disclosure statements. Details in William Gallacher's book Winner Take All.

Footnote -- In July 1988, the Larry Williams Financial Strategy Fund was launched, followed in March 1989 by the World Cup Championship Fund, managed by Larry Williams, Jake Bernstein and two others. The 1988 fund lost more than 50% of its clients' equity in barely one year, as reported in the October 1989 issue of Futures magazine. The 1989 fund also lost more than half of its original equity by May 1990. ...'

The book ''Winner Take All: A Top Commodity Trader Tells It Like It is'' wrote:
With a penetrating intelligence and a sharp wit, Bill Gallacher dissects many of the industry's leading lights, exposing the frauds, deflating the pompous and poking fun at the seers who believe they can predict the future. Along the way, he demonstrates why most traders lose and, most importantly, what it takes to win.

Like me you might well be wondering why all these 'competitive Retail Forex businesses' would want to get into the brokerage business in the first place. Helpfully Boston Technologies also provide an answer to that very question. If you download the 'Detailed Business Plan Framework' from that page you will discover all sorts of interesting snippets of information about how forex brokers make money. Various business models are outlined. For 'straight through processing' it seems as though:

Rule of thumb calculations show that if [a customer] deposits $10,000 then the broker will make about $1000 in profit over a month if he is active. For an inactive trader he will make $100. In the 'closed loop dealing desk' model however, the broker takes on more risk, but makes bigger profits: Most small retail customers have no experience and 95% of them WILL lose money. Here, most customers act like gamblers and your job is to act as the 'house'. This is a 'non-recurring' customer model in that most customers lose their cash, and do not come back with additional investments. Ongoing customer acquisition is therefore very important. So there you have it. You now know how the over the counter brokers make their money from forex. The obvious question to ask next is how can you make money from forex?

Oliver Velez selectively picks only those stocks which so happen to match his trading theories, leaving out the losing trades. He is selling people a pipe dream and can't produce a real or demo trading statement from a reputable firm like mbtrading.com. Demo trading results are fine as long as the broker is reputable.

Then we have another set of vultures: Trading Psychologists. Imagine you are delusional thinking you are forex-wonderwomen and jump of your roof in red cape every morning , spraining your ankle. The more you trade , the more you lose. You can't sleep, your pulse racing. Trapped in your delusion you can't accept the obvious: The trading methods don't work. Like a Scientologist e-meter facilitator the 'Trading Psychologist' swoops down on the hapless trader: 'Stick to your methods!' Which is like a Psychologist telling somebody who thinks he is Harry Potter that he must twist his broom to the left a bit, maybe now you will get airborne. Everything but the truth is told, only 1% eventually make it in Forex and 99.99% of trading methods don't work as described in the thread 'Technical analysis fallacy' on forexfactor.com. Fibonacci retracements, support and resistance lines, above 200ma or below, are all colorful hogwash on a chart.

Forex dealers are generating fake statements and using Myfxbook.com as an advertising platform to generate profit hallucinations , like gambling houses create the illusion that you could also strike the bigtime. Fact is that the eurusd follows a random walk, there are only a few individuals in this universe who can trade forex.

Closer inspection of the Alpari account revealed that 'Boris' and his brother 'Boomer' weren't scalping, they made 10, 15pips consistently. Given that the chances are something like 1 out of 10bil somebody could actually make 220 winning trades out of 223, we can only conclude that some 'Gremlin' got hold of Alpari's server.

Stephanus,

Interesting! I guess you are a fundamental trader! :)

I disagree that you can't trade technicals. I am actually new to technicals (2 years) and traded fundamentals before that. I did do better with fundi's at first, but that is because my strategy was very long term. The upside wasn't nearly as high.

I am still wrestling with forex like most and even futures on some days. I disagree that so few people make money or maybe I have been just very lucky meeting some and watching them trade. They still amaze me in their profitability, and my goal is to be 1/10th the traders they are very soon. :) I have grown to realize that trading is 90% emotional and 10% technical skill once you get going.

I like your insight, it is quite good. It makes sense that a broker would team up with a 'provider' to bring dollars into their brokerage. You can see how poorly all the providers do on instaforex and other PAMM type accounts. It amazes me how many people will abuse the trust of others for a buck. I guess I am naive in how many scam artists there are in this business.

I guess that makes it easier for the legit guys... :)

Thanks for sharing as it was very well written and educational!

Gil

I second the fact that anyone who has a legit EA will try to provide as much transparency as possible, otherwise something else is going on. And make no mistake about it. Anyone who has a successful EA will not be looking to sell it. This is a hilarious proposition. Only a fool would do such a thing. Brokers drool at the idea of leasing an EA that does well, and this is where the owner can make big bucks. Sell your EA, and sell your chance at financial success lol...

Side thought...

Anyone who trades currency for over a year knows that trying to make money in forex can be like trying to predict where a bouncing ball is going to end up. An EA has to be able to respond to any technical change that is happening in the market, and as i have found in my own EA development, this can require the introduction of 50 plus different features to try to accommodate the insane market we are trying to trade in. We are only beginning to form a knowledge base about the methods needed to trade forex and survive over the long term. GL friends.