I subscribed to ‘Forex Special’ ($150 per month) and just completed my first automatic trade. C2 claims the trade made a small profit of $29 on 2 mini lots:
3/28/11 08:31 SELL 2 GBP/USD 1.59757 3/28 20:00 1.59600 n/a $29
The price change claimed by C2 was:
1.59600 - 1.59757 = gain 0.00157
$29 is not much, but with a 400% multiplier it was worth the risk.
But, using Trader68 and IB, my actual trades were:
1.59765 - 1.59815 = loss 0.00050
The live brokerage data shows that NO subscriber made any profit.
Averaging all live brokerage fills:
1.597557 - 1.598417 = loss 0.00086
I did not loose as much as the average subscriber but it was nowhere near the C2 claimed gain of 0.00157.
Why didn’t anyone make the profit that C2 claims?
Also, C2 claims the risk was ‘n/a’ (not applicable). But the reality was that I had a DD of over -$250 at one point during the trade.
[This post has been edited to remove some hot-headed remarks that I put in the original post. - MK]
Waren -
When I look at the same trade results on C2 that you are complaining about, I see that C2 now says the details are
3/28 8:31: STO 2 GBP/UDS 1.59757
3/28 20:00: BTC 2 GBP/USD 1.59852
C2 lists the PL of the trade at a loss of minus $21 dollars, not a gain.
Now, what happened here is the following: the instant the system closed the trade, C2 made a guess about the fill price based on hypothetical quote feed results available at that moment in time. That’s probably why you briefly saw a profit for that trade.
But then, C2 did something rather amazing. It waited for brokerage fill results to be reported electronically by C2 AutoTrade software (including Trader68). This process can take 20 minutes or so. Once the fill reports were received, C2 then automatically changed the fill results on C2 to reflect the actual fills real people received in real brokerage accounts.
So while you were typing your forum post, C2 software was adjusting the results on the system page to reflect what real traders actually received in the brokerage accounts. Not because of your posts, but rather because that is what C2 does and always has – for every trade in which real broker executions are reported to it.
Finally: the “n/a” measurement means that our software has not yet had a chance to analyze the trade. This can often be delayed for up to a day, as it is a CPU intensive calculation.
Maybe C2 should not guess at results. I did not know this happened. In future I will wait a day before comparing results.
