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Yen Flash Crash Costs $14 Million

  • #41
  • Edited 10:52am Jan 23, 2019 10:29am | Edited 10:52am
Quoting bluepanther
{quote} Sorry, there are too many threads about grid trading / pyramiding / etc. I can't pick any particular one as "best" - they all have some value. The EA was Cobra Adrenaline. It is not anything special from any other grid EA that permits linear-sequence cost-averaging. It is safer than a grid-martingale since it does not multiply the lotsizes, so growth is kept linear and does not go exponential. But this means a greater correction is needed to close a grid-sequence. This EA doe
Thank you, I'll study how it operates, tried to find a manual to this but found nothing, thanks for adding video, don't have experience with averaging losses, only saw several times how the biggest units are building positions entering the markets.

I plan to use it on separate account, start small and if all goes according to my plans take out periodically capital from there. This is more a play than pro trading, something promising on the side to toy with. But, might develop into something bigger, why not. Two years ago I met a trader who from time to time managed to make 10x his account in a short time pyramiding positions, I will try to find his techniques, you inspired me to try on side.

LuXing looks like a guy who knows a lot about robots and markets, I would suggest to ask him about the possible blind spots in your strategies, in this thread or another. It may be a great help in your recovery, regardless of the go fund initiative.
  • #42
  • Edited 11:33am Jan 23, 2019 11:20am | Edited 11:33am
Quoting Fred-IV
{quote}This is interesting for me, I am looking now for an additional EA, might be a grid to enter in a corrective moves when I dont have time to sit, maybe you know something reliable?


Reliable ? Or profitable ?
Reliable to me is an EA where I can check the code logic, after which I submit it to extensive brute force checking.
As for grid trading, I have spent 6 months full time doing so.

Profitable ? The grid EA I mentioned above was unfortunately not profitable running unattended in full auto mode.
But hey, at least I (and the rest of the team) tried.

Quoting Fred-IV
{quote}Maybe you know here any good threads about grid trading/pyramiding?

You could look at 7bit's snowball, Remon's stuff, Magix' hybrid grid and perhaps even the famous blessing EA thread.

My conclusion is simply that in the long run, most grids do not survive, like this one.
I don't have anything against cost averaging, but if a trading strategy has a true edge, scaling in beyond 1 or 2 times should not be necessary... That's just my 2 cents though.

Quoting bluepanther
{quote} _________________________________________________________________________________________________________________________________ {quote} I am disappointed that since 2008 I have not yet found a system that can automatically generate profits, and I must manually trade to recover my losses.


Well, I think it is important that first and foremost you distinguish between 2 things.

1. a trading system or strategy that produces a positive alpha
2. automating that system

The problem is that most (or almost all commercial) "off the shelf" EAs do not deliver statistically robust results measured over extended periods. Let's be honest, why would somebody sell you a 99 dollar EA if it is worth its weight in gold ?

Of course it is fun (and highly profitable in spite of blowing the account once or twice per year) to aggressively run the likes of for example the Hamster Scalper on a thousand bucks account. But this at default settings is not something any 6 digit investor in his sound mind would accept.

Trust me, there are trading systems out there. Even ones that can be automated, statistically robust, and profitable.
It just takes a long time from an initial concept/idea, through having it programmed, fine tuning it and then running it on a live account.
If I did not misread, you still have 500k of your own trading capital left, which even if you make 1% per month would give you a 5-10k income. You don't seem like a quitter, so why not try and manually make 1-2% and month and spend time on ideas / concepts, etc ?

Quoting bluepanther
{quote} Please watch this video before applying this EA (I wish I had):
Quoting bluepanther
https://www.youtube.com/watch?v=da5aErUFvYg
Before even thinking of unleashing any commercial EA on a live account, one should know all its nuts and bolts in detail.
For grid trading EAs, that means controlling the downside by limiting the maximum levels/steps, the maximum allowable % or $$$ of draw down per grid or of all grids, trading times, ...
Better even, don't trust any ready made EAs on accounts >= 6 digits. Have them custom made and test them yourself.

Your added value for investors is responsibly managing their funds.
I would imagine checking up on the live master account maybe once per day is reasonable ?
Hell, if something is running on full auto I check at least a couple of times per day...
But, even if you had seen this video, let me remind you that in the days prior to the flash crash the draw down was already at an astounding 40%. That, IMHO, is not what investors would (or should) accept. No pain, no gain, but 40% ?

LuXing
Wisdom begins in wonder
  • #43
  • Jan 23, 2019 11:45am Jan 23, 2019 11:45am
Quoting LuXing
{quote} Reliable ? Or profitable ? Reliable to me is an EA where I can check the code logic, after which I submit it to extensive brute force checking. As for grid trading, I have spent 6 months full time doing so. Profitable ? The grid EA I mentioned above was unfortunately not profitable running unattended in full auto mode. But hey, at least I (and the rest of the team) tried. {quote} You could look at 7bit's snowball, Remon's...
Thank you, I will study these threads, my goal is to be inspired, not to find something profitable, because I know that it is Herculean, close to impossible task. I aim to find something that can be run in a long trend in one direction, where I can switch this manually if certain conditions are fulfilled: the end of correction confirmed and start of the next impulse going.

The market conditions are different during different times so I dont think that robust, versatile EA even exist. I would like to have something on side to switch on with small % on separate account to see what happens. That would be the first phase. In the second if all is well I will create a system and EA especially for these conditions I mean, quite fast markets.

This is the beauty of FF and this thread, I am inspired to do something new, interesting direction to study.
  • #44
  • Jan 23, 2019 3:03pm Jan 23, 2019 3:03pm
Quoting LuXing
{quote} Reliable ? Or profitable ? Reliable to me is an EA where I can check the code logic, after which I submit it to extensive brute force checking. As for grid trading, I have spent 6 months full time doing so. Profitable ? The grid EA I mentioned above was unfortunately not profitable running unattended in full auto mode. But hey, at least I (and the rest of the team) tried. {quote} You could look at 7bit's snowball, Remon's...
> From my own experience since 2008 what you say is absolutely correct - I cannot agree more with what you say.
> Yes I had multiple accounts but it was all my own money: in no way was I willing to manage others' money given the risk I was (still am) taking.
> I have promised myself to work to keep my DD no greater than 10% at all times, however this is proving difficult as I attempt to recover my losses reasonably fast (not as fast as $50k - $13M in four months though).
> I did not like my 40% DD preceding the Flash Crash, however I was hesitant to take a 40% hit simply to cease trading over NY/Christmas. Hindsight shows 40% was a bargain compared to 97% though.
> Thank you LuXing for sharing your professional advice with everyone, and reminding me of important facts.

___________________________________________________________________________________________________________________________________
Quoting Fred-IV
{quote} Thank you, I will study these threads, my goal is to be inspired, not to find something profitable, because I know that it is Herculean, close to impossible task. I aim to find something that can be run in a long trend in one direction, where I can switch this manually if certain conditions are fulfilled: the end of correction confirmed and start of the next impulse going. The market conditions are different during different times so I dont think that robust, versatile EA even exist. I would like to have something on side to switch on with...
Aside from my sympathy pains, I am glad to share my experience with others in the hope that some lasting value for myself and others can be retained from my loss.
Glad you are inspired.
  • #45
  • Jan 23, 2019 3:16pm Jan 23, 2019 3:16pm
Hi Bluepanther,

TimeTells here again, sorry for the tardy reply I am not following the Factory as often as before.

And thank you for your own comprehensive replies, I see the trade situation you were in yes.

I have no skillset in the EA arena, I am all manual trading and pretty much babysit each trade, so I agree LuXing would be the person to chat with in that area.

I also understand what you said in separating professional gambling and problem gambling.

You very clearly and logically defined the differences.

Start again trading, should you wish, but knowing the inherent & possible pitfalls. Especially with your method of entering trades.

Volatility, and out of the blue volatility (for whatever reason), could be more prevalent in 2019 with the Fed trying out (and maybe continuing) their trial of Quantitative Tightening. Watch all open trades for their vulnerability.
Pete
  • #46
  • Jan 23, 2019 3:42pm Jan 23, 2019 3:42pm
Quoting moodybot
Hi Bluepanther, TimeTells here again, sorry for the tardy reply I am not following the Factory as often as before. And thank you for your own comprehensive replies, I see the trade situation you were in yes. I have no skillset in the EA arena, I am all manual trading and pretty much babysit each trade, so I agree LuXing would be the person to chat with in that area. I also understand what you said in separating professional gambling and problem gambling. You very clearly and logically defined the differences. Start again trading, should you wish,...
Glad you appreciate my contribution. Thanks for your support.
  • #47
  • Jan 23, 2019 7:40pm Jan 23, 2019 7:40pm
As a fellow Kangaroo - i wish you the best moving forward. With a 500k account you should be able to do very well indeed once you find a good strategy. I can make a modest living off a $50k account - i only dream of what would be possible with ten times that...

There are systems out there that will return 20% per month with less than 20% DD. Having a hit like this should give you the motivation to find it and that is the problem with being bailed out by go fund me. That is - if your bailed out, you dont have the incentive to NOT repeat similar mistakes again...

All the best mate.
  • #48
  • Jan 23, 2019 9:28pm Jan 23, 2019 9:28pm
  •  WSoar
  • | Joined Jun 2018 | Status: It's a businessNot "Get rich quick" | 56 Posts
This is what happens when you trust your 14 million worth trading account to a couple of bytes of code...
Flash crash... Yeah... Who could predict such a move when every major trading center was closed?... Oh,wait....
100k a day... You must of been pretty happy with that income...
And you are not first nor last
What an irony... Some people are smart enough to build a wealth but at the same time their stupidity doesn't allow them to keep it.
==
  • #49
  • Jan 23, 2019 10:41pm Jan 23, 2019 10:41pm
bluepanther,
i had a look, and not my a little mesmerized by your numbers.
as hard as i am looking to find that 14M loss on the myfxbook posted accounts, i cant....

found one, that has at worse -3.4k loss ( mainly from profit).
Attached Image (click to enlarge)
Click to Enlarge Name: BP all.png Size: 56 KB


there is another account that shows +1.4k profit
Attached Image (click to enlarge)
Click to Enlarge Name: BP high.png Size: 59 KB


and then there is the supposed 14M account
Attached Image (click to enlarge)
Click to Enlarge Name: BP I made.png Size: 62 KB

that shows a total deposit-withdrawal = +7.9M net profit on the account's life span.

more, that same account shows that the highest equity ever during the account's lifespan was 6.4M (5.47M shown on the screenshot)
Attached Image (click to enlarge)
Click to Enlarge Name: BP I made 2.png Size: 65 KB

a high number, undoubtedly, but surely not 14M high.

neither balance, nor equity numbers not corresponding to the 14M.
however,
the current equity level is the said 500k.
what is unsaid, that the account, at current stage shows a total net profit of 8M!!
doesnt seem to merit the lost of all my money notion, nor warrant a gofundme, but different people, different look on the world.
Attached Image (click to enlarge)
Click to Enlarge Name: BP I made 3.png Size: 85 KB


just for a little colour to the above, leading up to the flash crash event, there was also a continuous withdrawal, so i feel the situation isnt that blue as bluepanther paints it.
Attached Image (click to enlarge)
Click to Enlarge Name: BP I made 4.png Size: 32 KB


sure you had an account, that run up a nice profit, and lost a good chunk on the flash crash event.
but with the evidence present, the full picture looks slightly different from the one sob story presented to the readers here.
for one, i am not buying it.
for others, there is the images to look, and they can make up their own mind.
maybe even gofundyou some of them!

happy trading!
there is always, always another trade!!
  • #50
  • Jan 24, 2019 12:05am Jan 24, 2019 12:05am
all i see is an incredible amount of deposits and withdrawals.... WDs to the tune of 4 million in december.
All in all this whole "story" is an eybrow raiser !

Attached Image
Master your Mind,,,Master the Market
  • #51
  • Jan 24, 2019 1:14am Jan 24, 2019 1:14am
Quoting bluesteele
all i see is an incredible amount of deposits and withdrawals.... WDs to the tune of 4 million in december. All in all this whole "story" is an eybrow raiser ! {image}
make it looks more a PAMM acct than a personal, isnt it?
there is always, always another trade!!
  • #52
  • Jan 24, 2019 1:22am Jan 24, 2019 1:22am
Quoting profitfarmer
{quote} make it looks more a PAMM acct than a personal, isnt it?
Well i can see no other reasonable explanation for that kind of activity...
I am sure BluePanther will explain all of it,

But things are not the way he laid them out. thats for sure.
Master your Mind,,,Master the Market
  • #53
  • Jan 24, 2019 3:11am Jan 24, 2019 3:11am
Quoting bluepanther
{quote}
I did not like my 40% DD preceding the Flash Crash, however I was hesitant to take a 40% hit simply to cease trading over NY/Christmas. Hindsight shows 40% was a bargain compared to 97% though. > Thank you LuXing for sharing your professional advice with everyone, and reminding me of important facts.
Again, as a very straightforward guy I will repeat: this was not a loss, one psychical strategy is to think about these figures as virtual numbers, nothing substantial, nothing real, not money. These sum become real money only when transferred to the bank, not before. From the sideline - in my opinion you never had 14 mil, these were some numbers, thats one of the ways to "take a loss" (no loss at all) and stay sane.

I stress that point after my own experiences with pain and mood swings that lasted years. Years of pain. YEARS. You easily belittle my words as platitudes, as you did before, but after years of pain you will understand it yourself. If you survive, because here is a chance that you will not, some of my trader friends dont trade anymore, they cant, after making millions they cant trade anymore. They cant handle the stress.

And the second argument about that approach - your "system" causes large "virtual capital" swings, psychologically it can be devastating, emotional rollecoaster, that may damage your psyche. Dont want to be a bad prophet, but I think there is a real chance.

I will think how to clear this battlefield later, to increase your chances oif survival and win, there will be another portion of unasked advice from me, but later.

Quoting bluepanther
{quote} Aside from my sympathy pains, I am glad to share my experience with others in the hope that some lasting value for myself and others can be retained from my loss. Glad you are inspired.
Oh yes, I planned to leave FF for good, what a waste of time I thought, but you inspred me to do something with a system a guy taught me two years ago, he frequently did 5x, 10x account in two weeks to month, I will study this again and try it on a separate account. Your story encouraged me to try and check if it is possible in my case.
  • #54
  • Jan 24, 2019 4:03am Jan 24, 2019 4:03am
[quote=profitfarmer;11919610]bluepanther, i had a look, and not my a little mesmerized by your numbers. as hard as i am looking to find that 14M loss on the myfxbook posted accounts, i cant.... found one, that has at worse -3.4k loss ( mainly from profit). {image} there is another account that shows +1.4k profit {image} and then there is the supposed 14M account {image} that shows a total deposit-withdrawal = +7.9M net profit o

NICE ONE PF,,,
you cannot outfox a fox.....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #55
  • Jan 24, 2019 5:07am Jan 24, 2019 5:07am
Quoting redoktober
{quote} Well , in a slightly twisted way , finally Bluepanther answered " yes ". So , he wants that FFactory traders do a donation of $ 14,000,000 to him. No comment about his mental health. Anyway , now the whole FFactory Community will be able to judge Bluepanther and his request.
agree with redoctober; this fellow needs to check his mental health

anybody who donates to him; also need to go straight to the nearest mental health hospital:

https://www.google.com/maps/search/m...spital+near+me
  • #56
  • Edited 6:23am Jan 24, 2019 5:46am | Edited 6:23am
Quoting profitfarmer
bluepanther, i had a look, and not my a little mesmerized by your numbers. as hard as i am looking to find that 14M loss on the myfxbook posted accounts, i cant.... found one, that has at worse -3.4k loss ( mainly from profit). {image} there is another account that shows +1.4k profit {image} and then there is the supposed 14M account {image} that shows a total deposit-withdrawal = +7.9M net profit on the account's life span. more, that same account shows that the highest equity ever during the account's lifespan was 6.4M (5.47M shown on the screenshot)...
You can be forgiven for thinking "where is the missing millions this guy says he lost?".
I would direct you to my GoFundMe page or my MQL profile to see snapshots of my entire portfolio.
I have the majority of my accounts Private, and have only shared a select few at the request of some contacts.
Perhaps I should share my entire portfolio? I am undecided at this time.

Here are my accounts as at 3 Jan 2019 after the Flash Crash:
Attached Image (click to enlarge)
Click to Enlarge Name: 36081626_1547122088546221_r.jpeg Size: 117 KB


Here are my accounts as at 24 Jan 2019 after a few weeks of slow recovery:
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 568 KB


__________________________________________________________________________________________________________________________________
Quoting bluesteele
all i see is an incredible amount of deposits and withdrawals.... WDs to the tune of 4 million in december. All in all this whole "story" is an eybrow raiser ! {image}
Those withdrawals were transfers to my other accounts which were I was running at higher risk. The whole "house of cards" collapsed when the strategies I was mirroring ran out of margin. Despite my best efforts (could I have done better?) I couldn't save my portfolio.

___________________________________________________________________________________________________________________________________
Quoting bluesteele
{quote} Well i can see no other reasonable explanation for that kind of activity... I am sure BluePanther will explain all of it, But things are not the way he laid them out. thats for sure.
Sorry, things are most certainly the way I have honestly laid them out. I cannot be more honest, unless I Public my entire portfolio and all history.
Perhaps I should? Even then, critics could claim they are all Demo. There is no pleasing some people.

A healthy does of cynicism helps humans survive, but don't be too cynical of your fellow human. I try to be an honest person in my life.

_________________________________________________________________________________________________________________________________
Quoting Fred-IV
{quote} Again, as a very straightforward guy I will repeat: this was not a loss, one psychical strategy is to think about these figures as virtual numbers, nothing substantial, nothing real, not money. These sum become real money only when transferred to the bank, not before. From the sideline - in my opinion you never had 14 mil, these were some numbers, thats one of the ways to "take a loss" (no loss at all) and stay sane. I stress that point after my own experiences with pain and mood swings that lasted years. Years of pain. YEARS. You easily...
Food for thought. I can understand what you are saying.
However, just withdrawing the money to my bank won't make a difference: they will still be digits in the computer.

_____________________________________________________________________________________________________________________________________
Quoting alphadude
{quote} agree with redoctober; this fellow needs to check his mental health anybody who donates to him; also need to go straight to the nearest mental health hospital: https://www.google.com/maps/search/m...spital+near+me
As per my post in Scammers Hall of Shame:

Quote
I half-expected someone would seek to implicate me as a scammer. Sorry, but I am a real person, and I like to think I will be successful from trading some day. Despite the ability for generous donors (re: greater fools) to reach out to me, I only expected my thread / campaign would prove to be for illustrative purposes only. Do you seriously think a campaign can raise $14 million, especially one such as mine with "overt" selfish connotations? I expected a little flak: I like to act deluded and insane sometimes, to please the bigots and haters out there. "He who laughs last, laughs best."

_____________________________________________________________________________________________________________________________________

Quoting billytt
NICE ONE PF,,, you cannot outfox a fox.....
I do enjoy a good joke, though this joke is on me. I should still find a positive side to my situation.
Who likes a guy who boasts of his exploits only?
Let me be boastful about my failures also!
  • #57
  • Jan 24, 2019 6:29am Jan 24, 2019 6:29am
you are wasting too much time here, better start trading with those 500k and you should recover soon.
NEVER BREAK RULES
  • #58
  • Jan 24, 2019 7:22am Jan 24, 2019 7:22am
Posting for my good friend RedOktober his post from the Scammers thread

Attached Image (click to enlarge)

Attached Image (click to enlarge)
Click to Enlarge Name: aaa.png Size: 242 KB




https://www.forexfactory.com/attachm...1&d=1548321180

As ProfitFarmer has shown, the Commercial member Bluepanther does not tell the truth about his "sad" story.
And for a Commercial member , not telling the truth is a very serious fact.

https://www.forexfactory.com/showthr...0#post11919610

Please FFactory members , look with your eyes :

https://www.myfxbook.com/members/Blu...-do-is/2566543

https://www.myfxbook.com/members/Blu...ion-1k/2721736

https://www.myfxbook.com/members/Blu...made-it/882802

As Billy said , perhaps Bluepanther is not a scammer, but something very close . No problem , the FFactory Staff will discover it soon.

In the meantime, the FFactory members pay attention to give away their beloved money to Bluepanther .


PS : since the beginning of this grotesque story , I have felt a strange smell. And my nose is very big.
Master your Mind,,,Master the Market
  • #59
  • Jan 24, 2019 7:40am Jan 24, 2019 7:40am
Inserted Video
  • #60
  • Jan 24, 2019 7:47am Jan 24, 2019 7:47am
Quoting bluesteele
Posting for my good friend RedOktober his post from the Scammers thread Attached Image (click to enlarge) {image} As ProfitFarmer has shown, the Commercial member Bluepanther does not tell the truth about his "sad" story. And for a Commercial member , not telling the truth is a very serious fact. https://www.forexfactory.com/showthr...0#post11919610 Please FFactory members , look with your eyes : https://www.myfxbook.com/members/Blu...-do-is/2566543...
Yes, hard to believe a person could be so stupid to lose $14 million the way I did?
Or do you find it hard to believe a person could be even more stupid than that, to create a campaign and expect hand-outs?

My story is sad no doubt, but I find it sadder when others judge me as a liar without real cause.
I have my account statements, and my broker will vouch for my experience (with my consent due to privacy).
And apart from my posts on MQL5 showing my performance, I can only retell my story.

The maxim holds true: "Judge others as you ought to be judged." It speaks volumes about your own character.
And the stench you smell is your own opinion: "Opinions are like a**holes - everyone has one and most of them stink."
__________________________________________________________________________________________________________________________________
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