Is there any technical reason the autotrade data can’t be shown for the many BTC signals on the EURAUD trade including the margin calls ?
So what happens now?? (This is first time I’ve been subbed to a system gone bust.)
I’d ask Jay but I don’t suppose I’ll get a response🙁
I exited mid afternoon, so almost to the bitter end! I can’t remember clearly, but I think he had around 50 autotraders and then a few days ago around 30 … and right now it says 17.
I think KarlA has a good point about him not being TOS …
I would unsubscribe. If you really like Jay’s signals, he may re-emerge with another version and you can ask him for a discount. At various points I have communicated with Jay. His responses are terse, but he wasn’t completely silent (unless I was asking something he didn’t want to deal with like my brokerage messing up autotrade signals). Maybe you should offer to help manage his risk better. 
Btw, his other system went from 125k to -18k. I didn’t know you could do that.
A system that went completely bust and with no risk management. Instead of learning from this and looking for good / safe systems you think it’s a good idea for people to ask the system owner for a discount on his next system!??? These type of systems are not even good for free.
So the same thing can eventually happen again? If losing everything is so appealing it’s might be easier to just set all your money on fire! Some of the stuff that happens on this site is mind boggling!
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I absolutely agree…it seems this trade leader seems to use this averaging down technique as it doesn’t show up on his equity chart. On Dec 3, 2019 he had a 40% drawdown and yet it doesn’t show up clearly.
These kind of systems will always attract newbie subs since the track record looks so good. There should be a warning to subs for these kind of systems.
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I wasn’t suggesting to just follow a future system by him blindly. I was merely suggesting that IF he liked the signals and thought he could manage them better (as he indicated earlier in the thread) …
Also, I’m still up 73% on Jay’s signals over 15 months. I merely took $ regularly off the table every few months, so I lost out on some of the compounding, but gained by reducing my size regularly.
Still, I’m personally not going back in with such high risk, but I can see how others might be able to work out ways to manage such signals better.
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I see your point. Some of these risky systems can be ok if you personally manage the risk. Personally if I autotrade a system then I think I that shouldn’t need to be involved in the system management and that I should not need to worry about a massive drawdown. It’s much easier to let a good trader / system manage everything.
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Perhaps.
A sound money management habit is to close any position that goes 3 to 7% against us, period and end of story !
I mean come on, the trader can always re-enter the trade later, if the price revisits his/her initial entry point, so why risk everything on one single lousy trade ?
Anyway.
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I know…this is just a sign of a lousy trader who doesn’t know when to get out and tries to average down trades to make a profit. Its so typical of many forex systems as I’ve noticed there are more martingale/average down when trading forex products than there are with other products.
It seems that they think that the currency pair will always recover so all they have to do is ride out the drawdowns.
Well it did work for almost five years, so there’s some method to their madness I suppose. If you combined this approach with some options hedging strategies it might not be so bad tbh
That much is true, “Just Forex Trades” did manage to turn $20k into over $350K in less than 5 years, just by playing with the “house’s money”, so to speak.
What is even more remarkable is that the biggest drawdown (from the initial starting capital) was a mere $200, according to the C2 track record.
So, at least in theory, nothing could prevent this system developer from turning another $20K into 350K (or more) in less than 5 years with the same (or slightly modified) trading system.
Thats the secret to this type of strategy and it does have some merit. It looks great for a period of time but it has a fatal flaw in that there is no stop level or hedging. It takes great skill to use this type of strategy with correct stop levels or hedging.
For example, there are strategies like selling put options that can perform well until there is a sudden collapse in the market. So until there is a sudden collapse the strategy will keep on looking great. Listed below is such a strategy
So one must know the risks that they are getting into regardless of track record before investing.
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Absolutely, especially if the trader is selling naked put options.
In fact, and generally speaking, ANY trading strategy that consistently bets that the market is going to “return to normal” will collapse sooner or later, unless the trader cuts his/her losses short. Like they always say, markets can stay irrational longer than we can stay solvent.
However, and that’s the problem with all mean-reverting strategies, if the trader reduces the size of the stop the performance of the system can quickly deteriorate or even become negative.
As always, only a backtest can determine the optimal stop to use with any particular trading strategy. But one thing is for sure : a stop must be used at all times, there is absolutely no way around this. If the trader does not use a stop then sooner or later the market will empty his trading account (no matter how big), simple as that.
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I just check this strategy today and unbelievable, down more than 90 % in only less than 1 month after several years making a good profit in this system.
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The system is dead.
Can anybody explain why C2 still shows it as working?
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Hi KarlA,
What is a “dead” system, as far as C2 strategies are concerned?
Well, it still has more capital than many other systems and still has the second highest monthly income from subscribers (down from 1st place). It remains to be seen if Jay will continue to trade the system.
One thing is for sure, the system is still attracting new subscribers, probably bargain hunters looking to score big.
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Can someone from C2 explain to me why “Just Forex Trades” is still shown as active when it crashed on 3/18, its balance falling below 0 and, as I understand, the developer sent out messages to his subscribers apologizing for its demise and promising to make up for it by creating a new system. People apparently can still simulating and even subscribe to it.
I am not sure but I think the status of any C2 system is determined after each closed trade.
In other words if your equity drops below zero at some point but is now in positive territory (after you exit your position) your C2 system is still active.
I could be wrong of course.
