For the recent two negative reviews, while I understand your frustration for the last two trading sessions, please do not remit the fact that the trader has historically always place fairly close stop orders and as achieved tremendous gains over a three month period. So, whether the C2 system was messed up or if a few bad signals got put into play, I’d take a couple of hits in the short term for what has been an amazing ride thus far. BTW…I am an auto trader of the system and am still up nicely. Further, I also experience some issues today when I logged into C2…some of the headers were in German instead of English… Glitches happen! Mathew is trying to create something new and unique for developers and end-user traders, so there will be some bumps. However, as a trader, you need to understand the inherent risks with any trading vehicle… in particular, “futures”…High risk…High rewards or losses. That said, give Safe Capital a few weeks to rebound, then make a determination. Two bad days does NOT equate to the totality of all the trades since inception! Do the math and look at the trades… you can determine for yourself. If you can’t live with the risk, then don’t trade!
Matthew,
Thank you., Matthew for the clarification. Please also note that Safe Capital is based in Belgium. Issues happen… be patient and give the system and C2 some time and credit for making this opportunity available, lest you may suffer the same bad trades only be able to blame yourself. Use a smaller percentage of capital and determine what systems work best for your personally.
I hope that the system developer does not take review personally. I’ve been with C2 for about 5 years have seen all kinds reviews. It’s a kind of love/hate relationship. Subscribers who joined at the right time and make money will love you. The ones at wrong time and lost money will reflect that performance in their reviews. I Think it’s all fair game, as long as it pertain to the performance of the system and not dis-respectful.
I, for example, after seeing your system performance for the past 3 months, jumping in last week with scale of 50%. During the last 2 days alone, I lost about $9300 plus commission. I was prepared to loose 10k with your system and that limit is reach and I canceled subscription and exit the system. When I joined in, know the risk, but excited about the gain and hope the momentum will continue. But the reality set in with almost 10k lost in such a short time with an excessive number of contracts traded. I was hoping that it will last a bit longer. I was not writing a review giving you a bad rating or something like that. But if I was writing one, it will not be favorable either for the performance that I got since joining for less than 2 weeks. So system performance review is instantaneous reflecting the most current performance of the system and is an on-going process. Over the long haul you will receive an average of these review which will reflect your system performance. I currently have 5 other systems that have gone through draw down but not to the level that I set as stop loss yet. Hopefully these will provide me enough diversification for the future. When I added your system I also hope it will help me achieve diversification goal as well.[LINKSYSTEM_82889946]
Anyone trading Safe Capital, what kind of returns and max draw down are you expecting long term?
We can already see in the reviews that some people were expecting 50-60% a month continuously with max draw down of 10%. It might be a good idea for Matthew to post a big warning to the page of new profitable systems saying "Please note that this kind of performance will not last for many months".
Exactly. If you guys expect 50% returns per month, good luck. For those who think this will last forever, good luck.
I wish Safe Capital all the success.
My thought on this is that while the system has done spectacularly up until this recent technical glitch, there is no logical way this level of performance can be expected to continue ad infinitum. Do you see any systems more than a year old that have consistently returned 50 % per month? Any investor who thinks this is likely should be paying Safe Capital for what will be an important life lesson.
I just want to clarify one thing - the previous comment is NOT directed at the system developer, but rather at naive traders who think that there is a “magic trading system” that they can pay for that will make them tons of money with no work.
Safe Capital has done an admirable job executing his system so far, but the concern I have is that consistent returns at those levels simply are not possible, and those late subscribers are about to learn this the hard way. Anyone who was in at the beginning can ride this out and still be quite happy with the returns so far, since they are up quite a bit.
I firmly believe that systems that are successful in the long term usually are rigorous in trade management and return 20-30% per year (returns that most money managers would literally kill for). Expecting more than this is self-delusional.
No offense taken.
Everybody here has said very sensible things and in fact, I can only agree.
Thanks for everybody’s replies.
I can only add that I have informed each subscriber that 50% per month is absolutely NOT a realistic number to have in mind longer term. I stressed that historical backtesting of my system turned out returns of 15-20% per month. So what we’re seeing now is on one part a return to the mean, and on the other hand - unfortunately - some technical issues which are making the problems look bigger than they seem.
It’s even in my welcome message, “don’t expect this system to be the holy grail”, as there is no such thing. If anybody were able to develop a system that gains 50% per month on a consistent basis without drawdown, he would be zipping piña coladas on the beach instead of sitting in front of a computer screen…
That having said, I am confident that my system outperforms most other systems here on C2 and still offers more value for money. Safe Capital has the highest Sharpe ratio and the highest annual expected return.
Best regards to anyone who’s following Safe Capital.
Agree completely with your sentiments Kevin. I applaud Safe Capital’s results to date however, it would be naive to expect similar results month in. (which has also been stated by Safe Capital)
Essentially, if a system can produce the upside results acheived by Safe Capital in a month, it is logical to infer that it can produce the same results in a month to the downside.
Celo.
Quit whining Safe Capital,
the creation of 20K account after Technical glitches is now at 17K
No old timer subscribers can help your system look good, and no new subscribers can make you look bad,
The only thing is you your self, focus on delivery,
1) thing required is to stop the bleeding, by having continuous draw-down day after day
3) Take some time off, so that your mind is rested & fresh
2) focus on what you are good at, delivering profits, now body is dictating you, how much,
and soon we will be back in business, wish you good luck, these difficult times too would pass
Note that he states in system description:
"The system is completely automated and mechanical."
So it should not be affected by feelings. On the other hand he is saying:
"I don’t use any proprietary indicators, I prefer to look at a chart as plain as possible and make decisions based solely on price and volume."
which sounds like not mechanical. Maybe Safe Capital can clarify this? System description also states:
"Stops: an open position is always protected by a stop. These stops are entered the minute a new trade is placed"
This makes me wonder why problems in order entry screen prevented the execution of stops.
Also it would be interesting to know what is the "limit of maximum drawdown per week" mentioned in system description. If "Maximum draw-down based on historical parameters in backtesting is 15%" I would imagine the max drawdown per week would be much less but obviously it is not.
Maybe not so “safe.”
Safe Capital has spent about $7000 in commissions (estimating with “typical broker commissions and autotrade fees”) in the last two weeks. I think that’s quite a lot considering there is currently about $8000 on the model account after fees.
all I will say is that if trading a large number of contracts with a small account, it is easy have a bad run and blow up
I hate to say it, but this is just another ridiculously overleveraged futures trading system, which is doomed to crash and burn. The recent margin calls are simply the beginning of the end.
System Description
"- Safe Capital’s main goal is to keep your money SAFE. Profits come in second place."
I would recommend C2 to ONLY allow systems to become public after 6 months of trading. C2 should allow systems that can at least be profitable for a few months before subscribers are allowed to join.
I believe you would decrease the amount of risky systems that are offered to your subscribers and only dedicated traders with at least some discipline would be listed.
That’s my suggestion.
You suggestion all make sense and is really good for prospective subscribers but since Safe Capital is a "Dream comes true" for C2 and brokers since it generates massive commission and fees for them.
You suggestion would potentially drives C2 out of business since it relies on more systems and trades to derive revenues!
