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+1000%? It's Done Now, +10000% next?
- #202
- Oct 7, 2020 6:57am Oct 7, 2020 6:57am
- Joined Jun 2017 | Status: Trader | 2,403 Posts
{quote} Cool! This really inspired me
- #204
- Oct 7, 2020 12:57pm Oct 7, 2020 12:57pm
- Joined Jun 2017 | Status: Trader | 2,403 Posts
{quote} The profit is less than the less spread ???
- #213
- Edited 2:04am Oct 11, 2020 12:48am | Edited 2:04am
- Joined Oct 2013 | Status: Trader | 1,929 Posts
I was under the impression that Forexholy was doing very well flipping his account 35 times in 9 days. So I was curious and start looking into his performance and histories.
And...something strikes me odd right off the bat.
So... his first position was 12 lots. I went on the margin calculator. At 500:1 level, 12 standard lot requires $2838.44 margin. Since his demo deposit was $3000, this very first position was all-in at 500:1 leverage. In less than 30 minutes, he had a +64% gain.
I continue chowing on this position. This is what his first position highlight looks like.
The filled price was OFF. I spotted it instantly...
I was curious if the FF market price was bugged.
So not only I looked up this specific price on my live FXChoic and live Oanda account, but also opened registered w/ Honkotrade and opened a live and a demo. Honkotrade, the same broker Forexholy is using.
After I pulled out all the prices and charts from all the brokers, all prices were ALL the same w/ FF's market price. At this point, only Forexholy's filled price was off.
FF Trade Chart
FXChoice Live Quote - Blue line was the market price, and Red line was Forexholy's filled price.
Oanda Live Quote - Blue line was the market price, and Red line was Forexholy's filled price.
Hankotrade Live Quote- Blue line was the market price, and Red line was Forexholy's filled price.
Hankotrade Demo Quote (Forexholy's demo account server) - Blue line was the market price, and Red line was Forexholy's filled price.
As I later discovered over 2/3 of his trades have the same issue as I continue to look into his histories.
Over 2/3 of the positions' filled price aren't showing up on the map, and he is having a 92% win rate doing this type of trading over and over again and filpped account 30 times in 4 days.
I am not pointing my fingers and still would give my benefit of doubts to forexholy. I am just simply stating my findings today.
What do you guys think? Have you seen anything like this before? Would u help verify as well? Let me know.
And...something strikes me odd right off the bat.
So... his first position was 12 lots. I went on the margin calculator. At 500:1 level, 12 standard lot requires $2838.44 margin. Since his demo deposit was $3000, this very first position was all-in at 500:1 leverage. In less than 30 minutes, he had a +64% gain.
I continue chowing on this position. This is what his first position highlight looks like.
I was curious if the FF market price was bugged.
So not only I looked up this specific price on my live FXChoic and live Oanda account, but also opened registered w/ Honkotrade and opened a live and a demo. Honkotrade, the same broker Forexholy is using.
After I pulled out all the prices and charts from all the brokers, all prices were ALL the same w/ FF's market price. At this point, only Forexholy's filled price was off.
FF Trade Chart
FXChoice Live Quote - Blue line was the market price, and Red line was Forexholy's filled price.
As I later discovered over 2/3 of his trades have the same issue as I continue to look into his histories.
who are these clowns now
{quote} Impressive results
Hi ForexHoly and FXSayWhat this motivated me a lot. Forexholy, how do you determine a reversal? You are trading on a reversal correct?
Is there any ea available for this strategy?
{quote} Engweijie He was a good trader.
{quote} Thanks
Forexholy, why aren't you using an explorer to track your trading activity?
How much is your average SL?
{quote} Hey, don't take this as criticism (and its great that you have added a trade explorer so as to be more transparent). Well done. But why are you messing about with demo if this is a repeatable skill and you have confidence in it? Seriously why not do it with real money ... in fact here's an idea for you ... Get $100k trader funding with FTMO.
{quote} DEMO ?
{quote} No, sorry, still not correct. That is YOUR login. You need to create a PUBLIC login - I can't remember how but the info is on their webpages
{quote} Can you please provide more details about your obv+fibo strategy?
{quote} Whats happen to the live accounts?
something doesn't make sense for me....in a real account with a 100e deposit normally you can trade a maximum size of 0.02-0.03 lots. How he was able to open 3 positions at the same time, and each of those with a size of 0.5? Not sure it would be possible even if you have a broker in some exotic places with leverage of 1-300. But in the EU I'm quite sure it wouldn't work.
{quote} Leverage. You can get far more than 1:50 up to 1:1000 and as EU citizen you can usually open account anywhere. Leverage is a friend, not an enemy, as this trader has proved. High leverage never killed an account, it was always position sizing.
{quote} The author also said this is a demo account. So probably has large virtual capital.
{quote} You are right. On the long run, high-leverage use make it impossible to not lose, with one exception. There is ONE type of strategy with which you can survive high-leverage use and be profitable consistently: Strong directional (trend)trading where positions at precise moment are added to already winning position. These are NEVER "trades any day or week" strategies. These are very rare occasions (once or twice a month) trading. You would think scalping would be good for this, but scalping alone, range trading or trend, on the long run, will...
{quote} Demo or real?
{quote} Demo - He said that earlier.
With demo, you don't get the same psychological feelings as you do with real money. It is easy to take big risks with demo money. I recall watching a TV documentary in UK about traders making big money sitting at home with their laptops. There was a lady on there who made 1 million trading forex on demo. When she tried with her own money she made some large losses as the emotional and psychological aspect is totally different.
Must say what Forexholy has done in motivating. Thanks for sharing. I aspire to become as skilled.
{quote} Hi Forexholy, Can you please let us know the trading strategy that you implemented for achieving these amazing results? I was just curious about how you arrived at this achievement. Thanks in advance.
nice work , is there any demo to use and test , is it for free or sale
https://www.tradingcup.com/en#how-to How is this even possible?!?{image}{image}
{quote} Don't they limit the risk allowed on each trade? I'm sure they have rules / limits that would restrict this type of approach.
I am not pointing my fingers and still would give my benefit of doubts to forexholy. I am just simply stating my findings today.
What do you guys think? Have you seen anything like this before? Would u help verify as well? Let me know.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return:
35.8%
- #216
- Edited 3:40am Oct 11, 2020 3:20am | Edited 3:40am
- Joined Jul 2011 | Status: Gold Again | 10,588 Posts
With demo, you don't get the same psychological feelings as you do with real money. It is easy to take big risks with demo money. I recall watching a TV documentary in UK about traders making big money sitting at home with their laptops. There was a lady on there who made 1 million trading forex on demo. When she tried with her own money she made some large losses as the emotional and psychological aspect is totally different.
It takes a lot for me to IGNORE you, but you can try.
- #218
- Oct 11, 2020 8:41am Oct 11, 2020 8:41am
- Joined Sep 2020 | Status: Trader | 8,702 Posts
If I don't mention SL and/or TP = longer-term setup possibly in the works!