>>>Artificial Intelligence ~ EA Available ~ FREE Daily Signal<<<

@GubyIQ: Read the thread and my answers. I have explained myself and what I am doing here, and why I am doing it the way I am. And I do really not care if you like it or not.

@fxnow: Thank you :-)

Prediction for next AUS200 Session: NEUTRAL - do not trade!

(Why? Because the model is undecided. Standard Deviation of model-parts is higher then the final prediction(called weight). weight=-0.000681 stddev=0.0055436)

Um...
http://www.myfxbook.com/members/FXVi...markets/882236
http://www.myfxbook.com/members/FXVi...markets/960020
http://www.myfxbook.com/members/FXVi...ge-inv/1266413
http://www.myfxbook.com/members/FXVi...trader/1282744
http://www.myfxbook.com/members/FXVi...ge-inv/1298212
http://www.myfxbook.com/members/FXVi...ge-inv/1306611

USD $4.7m
AUD $2.1m
GBP £442k

I consider that to be a lot, don't you?
And that's just with his affiliation with Nick Mcdonald.
Unsure what he has elsewhere.

If you don't know the answer to that then I'm afraid you will have a shock once you make the transition to live.

@trader34

Just two observations about FxViper (since it has come up):

1. Most of the mentioned MyFxBook linked accounts are NOT VERIFIED, so they can be easily DEMO accounts.

2. FxViper is MARTINGALE; its expectancy is 1.9% per month with INFINITE RISK. It is puzzling that who - in his right mind - would invest significant funds in a Martingale strategy, i.e. risking everything.

Well, verification alone isn't proving or disproving a live account. All it means is that they have either not supplied the correct server, or the server has been changed since the start of the account. With IC markets I was moved to a different server, and just didn't update that.
The verification in myfxbook comes from confirmation of price feed in the explorer compared to what myfxbook are seeing via their feed.

But yes, it is possible to fool trade explorers in countless ways, so it pays to be vigilant. I don't think viper is faking anything here though, just my opinion.
If you ask around, you'll find a good few people using his service.

The definition of a martingale is to increase the lot size when adding to each losing position. He isn't doing that.
His style would be better described as an open grid. He doesn't use a stop loss, and he adds to losing trades at whatever increments he decides, but very rarely are the positions larger than the previous.
Infinite risk? Yeah maybe...but he can withstand more than 1000 pips against multiple orders and still be 8% DD. I'm not sure many of us can say the same?
And technically...any time you are in a trade you have infinite risk. You think a Stop loss saves you? The SNB event once again proved that stops are not guaranteed.

So, I'm not sure your criticisms here are a valid reason to say people would be crazy to use him.

I personally wouldn't use him, but not because I don't like his style.

I think his standard risk profile seen here http://www.myfxbook.com/members/FXVi...account/616112 with 2.17% monthly expectancy (not sure where you get 1.9% from?) is not enough to justify the costs on an account my size.

The 3x risk linked above is a little better, but frankly with that potential DD I can generate better % returns on my own, so I don't see the need to pay him for that.

So, while I agree that viper is certainly not for everyone, he does have one thing which none of the commercial players here do:
A verified track record of live trading with consistently profitable results.

@trader34

The most discouraging facts about Viper are the following:

1. Its max. DD (-19%) is 10x higher than its Average Monthly Profit (1.9%). Please see below screenshot.

2. Although it is the most consistent commercial strategy on MyFxBook IT IS STILL a MARTIGRID(!) WITHOUT STOP LOSS, which NONE OF US would invest in... (adding larger and larger lot sizes to LOSERS is a MartiGrid in my dictionary)

Ok, this is the last I'll say on this subject, because despite my apparent "rant" before I don't want to clog up OP's thread. The only reason I'm saying the following is because it speaks about objective analysis of performance.

First, whether you would choose to invest in someone who operates without a hard stop loss is a personal decision. You won't, that's fine.
I personally trade in a very similar way in a couple of my systems so I have no issue with this idea.

Now, for anyone who (like me) doesn't mind grid systems, we must trade them with the knowledge that larger carried (not closed!) DD is part and parcel of it. 19% DD is the worst, absolutely right. But, have a look at the monthly statistics on the account you are using as an example.
He has not closed out one losing month since starting this.
When you compare it to a method that wins 10% one month, loses 7% the next month, then up 4%, down 5%...etc etc.. it is up to you which you think is a safer, more consistent yielding system. If, like me you need to generate consistently profitable months to survive, then a style like Viper's is something to consider.


Now, with the DD specifics on the account you used in the shots, you are overlooking or unaware of something important when you are criticizing his trading.
This is NOT how he trades, nor advises others to trade. This account is in partnership with Thinkhuge (Nick Mcdonald) and is risk adjusted to suit what Nick's clients want!
As with any signal service/sold method the designer will use a certain set of parameters, but people will choose risk they prefer. Larger gains bring larger risks. Many of them were complaining recently when Viper was sitting 1100 pips underwater because they are using 3x risk, so were watching 25% DD's.
Well, I'm sorry, but that comes with the territory when you change the risk settings.

The only objective analysis of Viper as a trader can be done from his master account: http://www.myfxbook.com/members/FXVi...account/616112

Now, first his risk is scaled much further down on this one, than on any of the accounts affiliated with Nick. Not just in lot sizes, but as a proportional ratio to the account balance.

Second, he rarely increases the lot size...you will notice that the current ones are ALL 0.3. Has he ever increased? Yes..but his money management is such that he has plenty of available margin to let things run against him, and have the tools to add.

Third...he was recently 1100 pips underwater with around 12 open orders....his account was only a little over 8% DD. You can hardly call that reckless in my opinion. The subs and clients who were using multiple risk factors were suffering, but that was their choice. And for the record..he has still not closed out a monthly loss from this DD yet. He's not won much, but he hasn't lost in this fairly disastrous basket.

Finally... since June 2013 this guy has only closed out 1, very slightly losing month! Show me anyone else who can claim the same.

Once again, I'm not saying everyone should go sign up. I won't for reasons stated. But it's important to be able to objectively analyse a trader. Like you, as soon as people see no SL, they immediately form a negative bias to that trader. But how valid is that?

Sure, +90% of people on this site will tell you that it's absolutely crazy to use any kind of grid and trade without a SL. Is it coincidence that 90% of traders aren't profitable consistently? The conventional wisdom will lead to conventional results. I'm not suggesting using a SL is a way to a losing system, but nor should you suggest that vipers style is one either.
There are many ways to be profitable here...and with viper the proof is right there.

As a tie back in to OP's thread, I have an open mind on his style. I don't see SL values. I see a very random distribution of accepted losses, with a variation of profit in pips too.
So I would guess he is using some form of discretion with his approach.
Do I then dismiss it out of hand because I can't see where his parameters are?
Absolutely not.
If we don't have an open mind, we won't evolve with an ever changing market.

NEW THREAD:

http://www.forexfactory.com/showthread.php?p=8792513

THIS ONE IS CLOSED NOW; PLEASE DISCUSS IN THE APPROPRIATE SUB-FORUMS

Come on guys, even more off-topic then yesterday? How is that even possibl?
I now had to reboot this thread, please keep the new one ON-TOPIC.
Edit1: As I could not close this one, I could at least restrict the access to posting to high-impact members.

Edit2: If a Moderator reads this: Please change the topic/headline of this thread to something like "About the moralities of selling EAs" or something like that
And please excuse me from starting a second thread, but this one really went off-topic.