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Attachments: turned 1K to 4.5K in a week with 4% drawdown
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turned 1K to 4.5K in a week with 4% drawdown

  • #661
  • Jul 29, 2016 10:57am Jul 29, 2016 10:57am
LOCKED OUT

still 50k left though...account is locked...40% limit touched. he can recover back
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  • #662
  • Jul 29, 2016 11:22am Jul 29, 2016 11:22am
Quoting Eonfx
LOCKED OUT still 50k left though...account is locked...40% limit touched. he can recover back {image} {image}

Excuse my lack of experience in this area, but what is meant by "locked out"?

Is this a rule initiated by forexsignals if you are offering signals/MAM/PAMM through them?

How do you re-start once you have been "locked out"? Is there a cooling down period or do you have to trade restricted sizes?

Thank you.
  • #663
  • Jul 29, 2016 11:31am Jul 29, 2016 11:31am
Quoting LondonFx1
{quote} Excuse my lack of experience in this area, but what is meant by "locked out"? Is this a rule initiated by forexsignals if you are offering signals/MAM/PAMM through them? How do you re-start once you have been "locked out"? Is there a cooling down period or do you have to trade restricted sizes? Thank you.
hi,

I am not really sure but I guess the broker which he is using and also the forexsignals have some setting of locking out the trader and closing all trades if 40% DD is reached.

I think now he will need to talk with his investors and broker to get back his trading privileges.

You are welcome.
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  • #664
  • Jul 29, 2016 11:40am Jul 29, 2016 11:40am
Forexsignals have shut the account as they said they would at 40% drawdown and they have closed the account. 8or 9 days is all it took to get into a 66 % drawdown.
  • #665
  • Jul 29, 2016 11:45am Jul 29, 2016 11:45am
Quoting Eonfx
{quote} hi, I am not really sure but I guess the broker which he is using and also the forexsignals have some setting of locking out the trader and closing all trades if 40% DD is reached. I think now he will need to talk with his investors and broker to get back his trading privileges. You are welcome.

Thank you Eonfx.

I would assume it would be forexsignals rather than the broker as the broker would not interfere with trading decisions unless it's past margin call.

If it is a forexsignal decision, 40% drawdown in a day is an awful lot before locking an account.

But as I said, I have no experience in such matters so can't really comment as to how/why they work as they do.
  • #666
  • Jul 29, 2016 11:52am Jul 29, 2016 11:52am
Quoting mytrader1961
Forexsignals have shut the account as they said they would at 40% drawdown and they have closed the account. 8or 9 days is all it took to get into a 66 % drawdown.

Are forexsignals and other such organisations allowed to just do that? I assume subscribers to the signal get what's left of their money back?

Do they not ask the clients of the signal provider (goodboy in this case) first as to whether they wish to continue after Goodboy has had a cooling off period to re-assess as to what went wrong?

Is this why people prefer to have their own signal service set-up so they can by pass such controls that organisations like forexsignal provide?

Just as a matter of interest, how much can a signal provider make in commissions from setting up via forexsignals rather than on their own?

Thank you.
  • #667
  • Jul 29, 2016 12:21pm Jul 29, 2016 12:21pm
You will have to read thread in forexsignals. Nick laid it all the rules out beforehand to people who were interested. Traders like GB are not usually allowed on the site, they have to be vetted first and have a good long trading record etc .At least the myfxbook was there to watch the trading as gb usually hides it and then deletes pretending he has made loads!

He 9GB) managed to pull the wool over Nicks eyes about losing his job and he can trade etc which he cant! As he went into DD he loaded more uj buys on ending with 65 trades open trades. A 2 year old could see it was going down.
  • #668
  • Jul 29, 2016 12:29pm Jul 29, 2016 12:29pm
Are forexsignals and other such organisations allowed to just do that? I assume subscribers to the signal get what's left of their money back? The investors moeny is held at the brokers and they will get it back- there is no issues with that


Do they not ask the clients of the signal provider (goodboy in this case) first as to whether they wish to continue after Goodboy has had a cooling off period to re-assess as to what went wrong? Nick will be posting on the thread later as to what happens now

To answer your question, London, about how much traders can make, signal services with a monthly subscription is a dying business model. There is the growth of Pamm (managed) accounts where the trader is paid a percentage of profits over the high water mark. It means there is not a monthly fee to pay for the investors.

The advantage of using any site forexsignals/darwinex or any others is traffic. These sites have mastered the internet marketing to attract investors.
  • #669
  • Jul 29, 2016 12:39pm Jul 29, 2016 12:39pm
Quoting mytrader1961
You will have to read thread in forexsignals. Nick laid it all the rules out beforehand to people who were interested. Traders like GB are not usually allowed on the site, they have to be vetted first and have a good long trading record etc .At least the myfxbook was there to watch the trading as gb usually hides it and then deletes pretending he has made loads! He 9GB) managed to pull the wool over Nicks eyes about losing his job and he can trade etc which he cant! As he went into DD he loaded more uj buys on ending with 65 trades open trades....

Thank you mytrader.

I found the link (below). Will have a read. You are right, account started 19-Jul, forexsignal pulled plug on 29-Jul, just 8 trading days later.

https://www.forexsignals.com/forum/f...anaged-account


I see his own account, the trades are still open and he is approaching almost 50% drawdown in one day (see image)

http://www.myfxbook.com/members/dood...d-mgmt/1614352


If USDJPY gaps lower over weekend, will be trouble. Could gap up and recover but his signal service at forexsignal is now ended. Will be hard to get Nicks trust again.
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  • #670
  • Jul 29, 2016 12:42pm Jul 29, 2016 12:42pm
Quoting mytrader1961
Are forexsignals and other such organisations allowed to just do that? I assume subscribers to the signal get what's left of their money back? The investors moeny is held at the brokers and they will get it back- there is no issues with that Do they not ask the clients of the signal provider (goodboy in this case) first as to whether they wish to continue after Goodboy has had a cooling off period to re-assess as to what went wrong? Nick will be posting on the thread later as to what happens now To answer your question, London, about how much traders...

mytrader:
Thank you for taking the time to replay.
  • #671
  • Jul 29, 2016 12:48pm Jul 29, 2016 12:48pm
Hi, London

Thanks for posting GBs account. I see he did not have that many trades on his own account. So much for the hundreds of investors whose money he was managing.
  • #672
  • Jul 29, 2016 12:50pm Jul 29, 2016 12:50pm
Quoting LondonFx1
{quote} mytrader: Thank you for taking the time to replay.
You are welcome
  • #673
  • Jul 29, 2016 1:58pm Jul 29, 2016 1:58pm
[quote=Eonfx;9057711]{quote} hi, I am not really sure but I guess the broker which he is using and also the forexsignals have some setting of locking out the trader and closing all trades if 40% DD is reached. I think now he will need to talk with his investors and broker to get back his trading privileges. You are welcome.[/quote

I am SO pleased that I did not invest my money with GB. I am SO pleased THAT THERE IS NO FUCKIN WAY I'd buy bullshit signals from you. You are a charlatan and an arse hole.Enjoy your relaxing weekend at the(cliched) spa.
  • #674
  • Jul 29, 2016 2:12pm Jul 29, 2016 2:12pm
Hopefully there wont be any trading on forexsignals or elsewhere ideally, everyone can see the results on myfxbook - the unadulterated truth!
  • #675
  • Jul 29, 2016 2:50pm Jul 29, 2016 2:50pm
Quoting mytrader1961
Hopefully there wont be any trading on forexsignals or elsewhere ideally, everyone can see the results on myfxbook - the unadulterated truth!
Guys, have a little mercy. I have been bankrupted twice in my life. So what? In business, I made it on my third in a row try. Same is with GB. Let him grow. Naturally. Plus, he is not the one to blame. It is "the investors" who should fully accept their responsibility for any eventual losses. I did not gave GB my money. We exachanged two letters. I decided it was way too risky for me. Many decided the opposite and obviously made some good money out of that decision.

GB is not a bad trader. At all. He just can't handle his greed. I think this is his major problem and it is not so hard to fix it.
Maadik Hugiis. IQ 69.
  • #676
  • Jul 29, 2016 9:16pm Jul 29, 2016 9:16pm
GB is talented trader and has special talent of....

just like few smart ass like moneyzilla and notsogreatmilenko

they puke/shiit/type rubbish from their ass on each thread and still get away thinking they are real deal.

they add nothing constructive to forum or the trader community and for sure cant trade for a shiit but yet troll and waste time all day on online forums.

PURE TALENT I SAY


off for a lovely weekend outing, enjoy the weekend
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  • #677
  • Jul 30, 2016 2:46am Jul 30, 2016 2:46am
Quoting Eonfx
GB is talented trader and has special talent of.... just like few smart ass like moneyzilla and notsogreatmilenko they puke/shiit/type rubbish from their ass on each thread and still get away thinking they are real deal. they add nothing constructive to forum or the trader community and for sure cant trade for a shiit but yet troll and waste time all day on online forums. PURE TALENT...
Good traders don't blow accounts. Good traders can handle their greed. Good traders are around for a long time, growing their accounts. Ergo Good boy is not a good trader. Also, in view of the fact that you seem to be a really unpleasant person, I hope you have a really unpleasant weekend.
  • #678
  • Jul 30, 2016 3:48am Jul 30, 2016 3:48am
Quoting TheGreatMilenko
I hope you have a really unpleasant weekend.

you are one sour soul, wishing bad to others wont bring any good to you, your karma will hunt you down soon.....

use your time and energy doing constructive things, since you are on trading forum atleast learn trading, start with a demo account, just like your friend moneyzilla.

may be after 10 to 15 years you may be able to make few pips on real account, come back and talk to me. and on this note I end all conversation with you, I think you had enough of little fame for your self.
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  • #679
  • Jul 30, 2016 3:53am Jul 30, 2016 3:53am
[quote=Eonfx;9058282]{quote} you are one sour soul, wishing bad to others wont bring any good to you, your karma will hunt you down soon..... use your time and energy doing constructive things, since you are on trading forum atleast learn trading, start with a demo account, just like your friend moneyzilla. may be after 10 to 15 years you may be able to make few pips on real account, come back and talk to me.

I am merely pointing out that you have been very unpleasant, calling people idiots for one thing. So, in light of your unpleasantness, I think it's only right that you have an unpleasant weekend, don't you? Or do you think that karma should allow you to call people idiots, then also allow you a nice weekend? I don't think so. Furthermore, why on earth would I want to speak to you in 10 or 15 years time? In fact that's me done communicating with you. I hope your little "bullshit signals" scamming venture is a resounding failure. I'm sure it will be. Goodbye.
  • #680
  • Jul 30, 2016 4:03am Jul 30, 2016 4:03am
Quoting TheGreatMilenko
Quoting Eonfx
{quote} you are one sour soul, wishing bad to others wont bring any good to you, your karma will hunt you down soon..... use your time and energy doing constructive things, since you are on trading forum atleast learn trading, start with a demo account, just like your friend moneyzilla. may be after 10 to 15 years you may be able to make few pips on real account, come back and talk to me. I am merely pointing out that you have been very unpleasant, calling people idiots for one thing. So, in light of your unpleasantness, I
...
good bye man, and yes do take my advice and use your time and internet for some constructive work.

I am having fun this weekend and I hope all good people will have fun too...
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