The opinions expressed in these forums do not represent those of C2, and any discussion of profit/loss is not indicative of future performance or success. There is a substantial risk of loss in trading. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. You should read, understand, and consider the Risk Disclosure Statement that is provided by your broker before you consider trading. Most people who trade lose money.
A couple of days ago the developer sent me an unsolicited message asking me to join his system. Since I saw from his trade record that he frequently adds to losing positions and had already one large draw down I asked him what is the maximum loss he is willing to take before he calls it quits. His response was that from now on he will stop at a loss of $600. Today he had a trade with a $19,000 plus loss.
Beware of developers who actively promote their young systems!
Averaging down is an extremely risky method without proper risk control. Not surprised he lost that much as it was a decent down move today.
But there have been much bigger moves just earlier on this year so it would take great skill to be able to last long term with this type of strategy these days.
Be careful of any strategy that averages down and especially martingale type strategies unless there is demonstrated risk control.
I received similar nonsense from JaviD, and when I asked about his risk management, he gave me a lengthy explanation about how he used to manage billions dollar portfolios, along with 140 traders. The next day, his new system (Multi Index Momentum) took a nearly 50% loss. Do not trust system vendors, unless they have a proven (audited) track record that spans multiple market cycles. I’ve been a C2 member since 2006, and have seen systems come and go, along with their so-called “expert” billion dollar traders.
