I have a bad feeling this due would cut loss of usdjpy right at the turning point again… LOL
@VerticalTraders Agreed 100%! The beauty of sites like this is that there are a few hidden gems out there between the number of fails and scams. Finding these gems is hard yes. So is trading. There are reasons why 95% of all traders loose money and that ratio will not change with copy trade websites. These reasons are
- Being lazy
- Underestimating the amount of work to be successfull (in any business btw)
- Not taking responsibility of your own actions
- Panicking in case of losses
- Getting big balls while having a good streak
So if you think about it the only regulation that would effectively guard all people from burning their money is to forbid investing for private persons alltogether. No open exchange anymore. Who can really want that?
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It seems that after the 2 big losses, he has lost the ability to trade like he used to. Before his trading was much better. There was adding to losing positions but it was done in a controlled, systematic way. Then he just went rogue!
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The psychological toll of knowing that you’re losing your subs thousands (for some even hundreds of thousands) must play a role. Rough stuff.
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What’s really awful from life standpoint is that we as subscribers and the dude from conservprofit are brought together under one roof, but all ended up as losers being sucked in by the mighty power of market. If we were strangers, we had own happiness and sorrow, but now it’s same sorrow on two ends.
What’s good lesson to me is that I trade actually pretty well (even with some system here for fun but please ignore those crap if you managed to find my system as I only played with it when it was free to try), but i was 1) too lazy (which is not bad thing) 2) too greedy (which is truly bad), and hoped an auto system would set me free.
Only owner of my life is me. Glad I see that after paying the tuition. What a slap on my face with the 5 grand. LOL. Oh well, I will suck it up.
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May I ask what are the top developers doing as far as subscriber numbers? How many do they have? What is a reasonable number of subscribers? Would 100, 200, 500, or a 1000 be doable? Is the pool of subscribers large enough to support those numbers?
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My apologies jcasesa. It was not my intent to post in this specific thread. Honestly, I just started dealing with threads and this site. So I’m learning my way and the rules. On the other hand…I’m not from wall street. I’m from the streets. Your words sound somewhat aggressive and offensive. I will ignore that this time. Rest assured I will never visit or post in this thread again. Nor will I bother you in any way. I sincerely hope you are able to recoup any losses. Goodbye jcasesa.
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Thank you! I appreciate you keeping it real.
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I tried to message Conserv, but C2 shows that he hasn’t even logged in for 4 days.
He probably is charting himself to return the subscribers a more powerful MONEYCREACTOR.
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So YM MAGIC’s strategy has been running for less than a week, and has already failed the claim of “Minimal drawdowns.” He had a quick 25% return, followed by a 35.5% drawdown, leaving a net negative 6.9% return so far. [UPDATE: by Friday evening, the strategy had turned marginally positive.]
A 35% drawdown is not inconsistent with having a great system, but one would hope that such a DD would happen once every couple of years, not in the first week.
Trading is hard–for anyone, and everyone. Anyone who claims otherwise . . . .
For YM Magic’s strategy:
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Is this surprising to anyone?
100% a month with low drawdown would be magic. But I expect the real magic here is making your money vanish.
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Main problem I see here is number of contracts. Leaving very little space for error.
Maybe if reduced to 2 contracts, trades and results can be better?
YM being really hard to trade, since elections, and super huge influence Bank sector has in Dow Jones, and GS being with most weight.
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What happened is what I call “unreasonable expectations”. Same story: Start with low account size with the aim to show stellar returns. If succeed then got a lot of subscribers if blow out then start again. Account size should be set at a reasonable and well thought size comparing to the leverage taken, a practice that is almost unknown by trade developers at C2. 10k with 5 YM contracts indeed YM (account) magic!!
Hopefully C2 will introduce a more robust and professional way to depict return that has nicely explain not long time ago on this forum and that is widely available in the hedge fund industry. Till then subscribers be aware!
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Thank you for the weekly update. Please continue. I also appreciate your analysis. This was my worst week ever. Positive: no loss of principle. Traders have to be as NFL quarterbacks. Analyze the reason for the interception on the previous possession. Fix it, and only take the solution into the next possession.
See you on Monday!
Thanks for your insight.
No offense…but I will succeed sir. Please stay tuned. Thanks for your insight.
Thanks for your insight. I will be here for the duration. This isn’t about grabbing sub fees and vanishing. Please stay tuned.
The surprise is coming. Thanks for your insight. Please post your insight in 3 weeks as well.
