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

I just finished reading moneyzilla biography on his profile and looks like man is self made and have seen tough time in his life...any ways nothing against him.

I would advice him to concentrate on trading from now on and let his number speaks for himself rest does not mean any thing....me too have seen tough time so I understand life.

Good Luck to all in your endeavours lets make money....

Thank you for these figures.

What is great is you have chosen yourself, the trades to show how “great” GB’s trading is. I will now show everyone using your own chosen trades, how this “trading” is absolute nonsense and is nothing more than gambling.

But a question first, can you state why you did not screen shot the running P&L of GB’s account whilst these trades were open? My rough calculation would suggest 17% drawdown right?

But never mind, let us get down to the math.

Let’s start:
MZ states that GB started to take trades when price was 1.30788 and kept on averaging until price reached 1.30271 (by the way, they were non symmetrical). A total of 35 trades with lot size of 1.18 each.

Can someone please calculate the running P&L of all trades when the final trade was taken at 1.30271? If you can’t, don’t worry, I have attached a simple spreadsheet (took a minute to create it).

The spreadsheet shows you that by the time GB took trade number 35 in this sequence, he was running a loss of approximately -$12,750 (actually it's was worse as price went lower). This represented a running loss of approximately 17% of his account. This is FACT. Do you deny these facts MZ?

Lets also consider this. GB took the first trade of 1.30788 at 12:53 and the last trade at 13:14. So inside 21 minutes, he lost 16% of the account. How does anyone consider this sensible trading? This again is 100% fact. MZ, do you dispute this?

So actual facts about this series of trades (approx figures)
Max adverse loss = -12,750
Eventual profit: =265

Anyone care to work out the Risk/return profile for this series of trades? It’s diabolical.

Worse, no one knows where GB would have stopped the trades out. Judging by past evidence (look at usdjpy example in earlier posts) I can say with near certainty that GB would simply had kept on adding to losers until he was margined out. I guarantee you then MZ would have stated that GB was averaging a 75 pip range or a 100 pip range.

This is NOT trading. This is gambling. Even MZ can’t state where GB’s stops where in this series of trades. This is suicide gambling.

MZ states that GB is looking for an average profit of 30 pips. Can someone please tell me how averaging trades in a 50 pips range (assuming perfect symmetry) and then just looking for just 30 pips profit is profitable in the long –term? This means that for every series of losing trades, he will need 10 series of winners just to break-even (and that is assuming he sticks to a 50 pip Stop loss which is clear he will not)

That’s not me talking, that’s basic math.

Trading is about long term account growth, not a hail Mary “lets get rich quick, bet everything on one trade”. This is why so many retail fail. They have no patients or long-term sensible objectives.

Look at GB’s trading, he is constantly adding to losers, expecting a short-term bounce where he can cover. This will work until it doesn’t. This only needs to not work twice for an account to blow up. What MZ says about pyramiding and cloud trading is complete nonsense and has no relevance to day trading, especially someone whose trades last an average of just over one hour.

This is pure gambling and the long-term success of such a strategy mathematically is zero.

Thank you for providing these figures MZ. The maths shows how deluded you are and just how poorly you understand the ineffectiveness of this strategy.

Perhaps this is why you lost $65k trading your own money and have spent another $65k developing EA’; EA’s which if your above thinking is anything to go by, will result in zero success and another $65k wasted.

Utter drivel and nonsense. Your comment in the above post have more inaccuracies and logical fallacies than your trading logic.

A diatribe rant which is showing everyone the nature of your character and personality and proves how little you actually comprehend or understand.

“I have been doing business with gypsies, from age 22 to 27. All Balkan's gypsies come from India”.
And for that reason you can’t be a racist? That’s like a man saying he can’t be a misogynist (a woman hater) because his mother was a woman too. What stupid and illogical reasoning.

Why mention sex, color, nationality, creed, or indeed anything else at all? What relevance does it have?

And his comments “my brownie ENGLISH friend” (post 795), in your opinion has no racist connotations at all?

You're right, colour should be kept out of it.


Your above math shows how aggressive/risky GB's trading is. The system however could be done using much smaller lot sizes and then it would be a reasonable way to trade.

Why just color? It should exclude everything that is of the person and does not relate to trading.

Aggressive isn't the word. it is simply insane especially considering he has zero stops in mind when he places the trades. The trading simply consists of looking for price to hit a confluence/structure and then load up aggressively hoping for a short term bounce. It works until it doesn't.

This type of aggressive strategy is only used by those who look to sell signals or Pamms/Mams so that their figures look good. To take subscriptions and when it fails, to come back under a different identity. Retail is taken in by such good looking figures without due consideration of the underlying risk.

The best (the ones that survive decades) build up their capital over time. They know trading is a long-term business and requires good solid long term rules. Any trading that can blow an account up in two days (or 17% in 21 minutes) isn't trading.

The quicker retail understands what trading/investing is all about, the more money they are likely to save in the long-term.

*"
Trading with an average price is an approach used by GodBoy and that is the only approach I was interested of his overall trading performance.

I do not follow his other ways, if there are other ways in a first place. I just see the average price approach and I think this is extremely wise approach. GoodbOy just cannot handle money and greed. I hope soon he solves these problems.

Best of wishes to GB. I hope he make it."




The above post makes sense. He agrees he needs to handle risk better, and that's pretty much it.

'Average price/return to mean' trading only works if markets stay within a range. Once the range is breached (usually when volatility returns) you are forever adding to losers. If you have sensible lot sizes, maybe you will survive longer. If you do not, you blow an account very very quickly.

Adding to losers is something fundamental traders sometimes do when they have conviction that their long-term analysis will pay off (such traders tend not to worry about market timing). Even then, any single instruments will tend not to make up more than 5% of their overall position.

When you are day trading (with no stops and just keep on adding) average price/return to mean trading simply kills your account.

In August (when volatility is low), such trading works. But there have been many signal providers on here (look at TQ forex or JazzFx) who promote new signal services in August, only for these to all blow up blow when volatility returns.

Capital3x were another signal provider that traded return to mean/average price. They traded small lot sizes which allowed them to hold positions much longer. But eventually they to blew up countless accounts when price simple refused to return to mean.

Hope this helps.

I suppose his method needs much work, percentage based SL that's reasonable and can happen a few times without causing damage.

Well again people would like to know more details which are very similar what Londonfx prove:
Friday you risked$16000 to win just $620.
Now is your last week story more completed.

GoodBoy TV

Commentary: Dear Ladies and Gentlemen, nice to have you here at GoodBoy Arena. It is a start of a new week. I have the biggest fan of GoodBoy here with me. Hello MoneyZilla, welcome.

MoneyZilla: Thanks for the invitation. It is a great pleasure for me being here, David.

Commentary: We saw GoodBoy, having some hard times last week. There was a big group of people waiting him to fail. I have said people, not traders, cause we saw most of the anti-GoodBoy fan group have specialized in wisdom quotes, personal or group shrink services, there were some group of court jury and even a judge, not to speak of the religious Karma fans group...

MoneyZilla: Yes, David. Everybody has the right of his/her own opinion. We are just fans, spectators. Nothing depends on us. We like to watch how GoodBoy trades. Some hope he fails. I do hope he succeeds. We are supposed to support or criticize his trading decisions. I do not understand these people. And that hatred...

Commentary: But you were the only supporter of GoodBoy last week...

MoneyZilla: Luckily for me, he won. GoodBoy had a winning Friday and got himself out of the troubles. In a way that is a win for me, too. Over the group of GoodBoy's critics. Being his only supporter was very difficult for me...

Commentary: GoodBoy numbers seems to silence the opposite camp, don't you think so MoneyZilla?

MoneyZilla: The numbers normally silence everybody. I have no idea if GoodBoy's numbers can silence the non-traders group of the shrinks, the preachers, the wisdom distributors, the Karma activists, ext. If these were real traders, they would have to shut up. They should. Any amateur/hobby trader should keep silence after that kind of performance...

Commentary: It seems to me the group you are referring to have to wait for the next time our star, GoodBoy, goes into a trouble again. And who knows when this will be? Is not it this is the time when the game gets more interesting and the heat goes North?

MoneyZilla: Unfortunately, it is so, David. When GoodBoy scores big money, there is almost no one around here... Maybe they are learning their quotes or preparing for the next trial? hehehehehe:-))) I am joking.

Commentary: Hahahahahah!:-)))) That was a very nice joke, indeed! Dear TV viewers, that was all from us for now! GoodBoy has a nice start of this week. At the moment he is running at 2.5k net profit. We will keep you tuned, with MoneyZilla. Thanks for watching! Till next time!

Funny and true post ^^

For the kind of ROI he's after, it shouldn't be a surprise there's such DD.

GoodBoy TV (Breaking News!)

Commentary: Good Afternoon dear Ladies and Gentlemen! You are watching GoodBoy's Breaking News Live. I am David (not from the Bible) heheehehe:-)))... and with me is MoneyZilla, again. Who is MoneyZilla?

MoneyZilla: David, that is not important. At all. Lets focus on who is GoodBoy and how is he trading right now? I think GoodBoy is frighting Goliath now, from the name of his Father! WOW! Gotcha!:-))))

Commentary: GoodBoy has about 39.90 lots open on GBPUSD now. Using an average price approach. The trades are 42 buys, 0.95 lot each, from 1.3059 to 1.3038. The average price is probably 1.3049 or something. Is it HEAT time, MoneyZilla? He is doing it again! Buying while the rate is falling...

MoneyZilla: The waters can get warm here at GoodBoy Arena, cause the bottom zone of the small range this pair enters is about 1.3005. If broken on the downside, GoodBoy's critics will have a big party... I personally think he has a good reason to enter, cause today there were no news and the rate is simply ranging in between levels 1.3080 and 1.3050 most of the time. A pull up to 1.3095, even to 1.3115 would not surprise me. The top side of the range seems to be 1.3125. It is unlikely to change.

Commentary: What do you think GoodBoy is aiming at now? Almost 40 lots? That's quite an aggression...

MoneyZilla: I guess GoodBoy is aiming at the top of the nose at 1.3060 maybe. That would give him some 4-5k net profit. About 10% account increase only for today. I guess that is his goal. It does seem GoodBoy is an aggressive trader. Where is this aggression in trading cumming from? Is it something we have to look at his childhood? Maybe in School? How about University? I am sure there are people from the critics here, watching us and who could answer all those questions... All we have to do is to address these folks and they will erupt like a Hawaii volcano...

Commentary: MoneyZilla, I think I am the one here who is supposed to ask the questions. Do you want me to get fired by GoodBoy? hehehehehe:-))))

MoneyZilla: Not at all David!:-))))

Commentary: Thanks, MoneyZilla. Appreciated. So, we have a news here, dear TV viewers. GoodBoy is attacking the cable from below. From downside up. Hitting the cable in the chin (Like a heavy weight boxing legend). Again and again and again! 42 buys in fact! 0.95 lots each. And it seems he is gonna win this fight, again! Lets hope for the best for GoodBoy! Dear fans and critics - Enjoy the rest of the game.

has anyone noticed how polite gb is in fs forum - saying sorry when he cocks up?He cant abuse anyone in fs forum, lol. he is only there as Nick traders have been in drawdown all year because they cant admit when they are wrong!!!!!

Well for Nick is actually most important trader GB.This gambler bring his site bigger traffic and if he gives his 270K to gambler maybe he could have his 1 mil till end of sept. otherwise for his 1 mil from trading he will wait for another 30 years.
But this could only happens if he takes off 40%DD rule .This rule limiting GB'gambler skills.

Nick is getting desperate - taking a gambler on. Loads of people have not made any money on his other traders. He has undermined the reason for the site and now certainly does not have my respect as a businessman.Looking back at all the people who have lost money on all the crap traders on his site, it has always been the same

He knew no one will make money from his traders, but yes he did make money from people.

This is a post on myfxbook where GB cannot understand why they won't let him trader other peoples the arraogance of a gambler & an idiot:
Thanks Rob, I don't really risk that much. I had made bad selection 1-2 times but now i am all about less but quality trades. I have a big list of clients copying my trades. Too bad Myfxbook autotrade rejected my application last week, accusing me of running 'grid' I explained i am ONLY trading manually, i gave them screenshots of my trades/chart analysis but still they didn't care. I am thinking they are afraid if i become autotrade, i will be on top 5 and all clients will be following me with 74% winning trades. They'd have to pay loads n loads of commission to me could run into millions, so they rather accept signal provider who are mediocre and generates less trades, so more commission goes to their pockets. Rob, Tgor, and everyone you have had bad traders on autotrade and they were removed when community complained reached staff ie ambushtrader is an example. Instead of censoring me, denying me opportunity while i met all their criteria for autotrade :
==============================
How can I become an AutoTrade provider?
If you're an experienced forex trader with a proven track record, you can offer your system to the Myfxbook enormous user base (over 90,000 and counting!) and earn as much as 0.5 pips per a winning trade - there is no upper limit!

What is a proven track record?
- A connected real and verified MetaTrader 4 account with Myfxbook with at least 3 months history.
- Drawdown of no more than 50%.
- Return of at least 10% and higher than drawdown.
- Average pip per trade (expectancy) of at least 3.
- Average trade time over 5 minutes.
- System must not use any martingale/grid techniques.
- An account balance of at least $1000 for the last 3 months of trading.
- At least 100 trades.
====================================================

I told them, i'd alter my trading & open only 3-4 trades if too many trades is a concern. So, they said ok re-apply in 3 month!!! which is unfair.

One month ago, i got laid off from my dayjob, i thought i'd make a career out of my trading skills by providing signals here, but i feel being wrong. I am just concerned, how i'll be able to support my family being sole bread winner. Market is a risky place, i've been grateful for this talent and doing all i can to survive.

I tried to applying for jobs at hedge funds but didnot get any respond back. I guess they don't take retail FX traders serious.

Anyways, that's my story. behind this profitable trader you see, there is hard work and challenging times.

He is running a grid!!!!!!!!

Do you remember the DayFox mess in 2014? Short track record, did well for a few weeks, then oops. All record of him conveniently deleted.
I think Nick will make his Million, but it will be from commissions and subs etc.

Touch THE SOUND OF SILENCE
people talking without speaking...