Well, a nice start for those that joined the service recently.
We have just closed a trade for 30 pips profit on the EG market.
UPDATE FOR THURSDAY 28TH APRIL
“The signs were not encouraging at the start of the day with 6 of our 8 markets looking neutral and the JPY pairs looked unpredictable. We were initially interested only in GBP/USD and USD/CAD. The GBP/USD never got near a trigger point. The USD/CAD showed promise for a down trade but we were waiting for the Fundamental Data release at around 2 p.m, it rose but didn’t trigger a trade after that. EUR/GBP moved around in a generally tight 40 pip range and was not near either trigger zone. We found a Buy trade at 6.05 pm. on the EUR/GBP and at the time of writing it has closed for +30 pips.”
I personally made £301.
|Open Time||Type||Instrument||Size||Open Price||Close Price||Profit|
|2016-04-28 @ 17:04||Buy||EURGBP||10.00 Lots||0.77683||0.77984||£301.00|
You can try FXF-Signals here:
magic,long may it continue.It would be great if you could post results whenever a trade occurs. I know this might not be possible but will certainly help those of us who are sitting on the fence as suggested by some other members yesterday.
I can’t promise that as I’m a busy boy (hence liking this auto solution), but I’ll update as often as I’m able.
I believe that trader is from that well-known reviewer site, right?
Yes, it’s Michael Pears, the very chap that has made 12,000 pips over the last 16 months. We should be in good hands.
Yeah, he is impressive. I would love to use his 0.1% compounding staking, what do you think about this staking plan? If he gets over 10,000 pips now, wow, with his staking plan, his current bank must be around millions now.
For a forex novice, how much of a bank is needed to do 10 punnd a pip?
It depends on your risk profile. The maximum risk is 40 pips, so if you want to work to a 4% risk per trade, you’ll need a 1000 pip trading bank.
As you are a self confessed novice I would suggest you ease yourself in gently. Our emotions can get quite fraught when we see a trade showing a negative value even of sums like £200 unless of course you are minted. Probably best to try a smaller pip sum like £1 to start. You’ll get advice to use a demo account but without ‘skin in the game’ you won’t really be fully involved so tread cautiously to start.
I read Graham’s email of 27th April re this and thought wow, just what I need, 200 pips per week, never any losing weeks and 10,000 pips in the last year, all on auto pilot!
Then I was massively disappointed to read the feedback on the website on 27th/28th April from subscribers saying performance had dived, there had been losing weeks and over 5 weeks they’d made 20 pips not 1000 as described. I’m grateful to people for having posted this reality check, please continue posting your real live results.
The news of this latest winning trade is obviously positive, let us hope things continue in this manner as I’d dearly like to subscribe to this service long term.
1) With the trade copier, who sets the stop loss – the master trader or me?
2) Following the Jan 2015 Swiss Bank issue that hit traders real hard resulting in some people incurring massive losses, is it possible to lose more than your stop loss with this system as happened to people in Jan 2015?
3) Is it suitable for complete novices?
Sorry for the questions, we all have to start somewhere! 😉
Hi Craig, don’t confuse 200 pips AVERAGE per week with meaning you will make 200 pips every week. If you look at the traders full results over the last 16 months you’ll see other periods where he made less than 20 pips! The master trader sets the stop loss at 40 pips. You set how much you want to trade per pip. Yes, it’s possible to lose more than your stop loss, it’s called slippage. Forex is a high risk business, only ever deposit funds you can fully afford to lose. Yes, it’s suitable for novices so long as you stick to follow the instructions, only ever trade with disposable funds and don’t get greedy.
Which broker do you use? Does it have to be a spread betting account or can it be any FX broker? Can any broker account be linked to the trader’s account via 4X Solutions? Thanks, Josh
Have the guys given any reason or indications as to why the service is suddenly so poor? I just find it very odd that the service has ‘consistently’ been doing around 800 pips a month, never had a losing week etc etc, but then only has 11 trades in 5 weeks with a pitiful 20 pips profit?
Surely they must be really embarresed about this and have given some reason as to the miraculous change in fortune?!!
The trader has had periods like this before. I think people are conflating the AVERAGE 200 pips per week with meaning it will make 200 pips every week. The average is deduced by taking the total amount of pips made over the whole period and dividing it by the number of weeks, it doesn’t mean it will make 200 pips per week.
10,000 pips is great trading , did he trade a demo account or real account? His performance depends on his style of trading for example if he is trend trading he only needs to ride a couple of big trends and he be profitable. I hedge myself , trading only trend changes and breakouts. I hope it works out for you all.
He trades reversals using the levels provided in the FX Foundations daily reports.
This is why I asked for a MyFxBook link of the master account some days ago. About retail Forex trading we are not in the 2006 anymore fortunately, when you could have seen tons of screenshots of brokers’ statements, colourful web pages etc. only as “proofs” of good trading. Now we can and MUST ask for trading statements coming directly from reputable brokers’ servers thanks to MyFxBook and linked to REAL and well funded accounts (not “cents” accounts) showing that the master trader has put his money where his mouth is. When I see fantastic trading activity made on a DEMO account… what should I think about the reliability of the trader if even himself hadn’t faith in using his own money? After done this, we can examinate a lot of other fundamental characteristics of trading activity that must be taken in account before deciding to join.
800 pips a month sounds great to me – I’m in and will be going at £10 a pip to start. I hedge as well so its a no brainer for me also do reversals and trade with the trend until a breakout when I reverse to mean. Combine this with camarella levels (whilst monitoring murray math levels) and should be ok.
Hi john, regarding your results published on April 28th I was curious if there had been an increase in trades /profit since then? . Thanks
2 trades today (so far) both -40 no upturn yet
Time for an update:
We are in month 2 now and if we say month 1 was a huge disappointment, then month 2 has so far been a disaster and showing a loss of -48 pips
I understand the law of averages and peaks and troughs etc. but we are coming to the end of week 6 now and the service is showing a loss overall and for FX Foundations to claim the Master Trader is averaging 800 pips pm and over 10,000, I think it’s reasonable to expect considerably better than a 33 pip loss to date.
Looking at the duration of some of the trades, I’m not convinced at all about the Mater Trader and thus the FX service.
• One trade hit the stop loss for – 40 pips in 17 mins!
• Another trade hit the stop loss for – 40 pips in 45 mins!
• A few trades have been allowed to run overnight
• Out of 15 trades in total, 6 have been for the max -40 pip losses
• Of the 8 winning trades, 6 have been for the +30 pips, 1 for +9.1 & 1 for +1.3 pips
• Total loss after almost 6 weeks -33.6 pips
Only 4 trades in month 2 so far:
The last 2 trades which hit their stop losses today I had my eye on partly and one of them didn’t appear to ever get in to the profit territory, whilst the other was at one point about +17 pips up and then they both went badly wrong and hit the stop loss.
My main concern now, is whether or not the service can be turned around as it’s getting to be a bit of an embarrassment for all concerned especially FX Foundations.
I wonder if FX actually verified the Master Trader’s results of over 10,000 pips profit and 800 pw average or have they taken them at face value?
I’ll make a decision after month 2 whether or not to carry on, but if it carries on in much the same vain, then I’ll be throwing the towel in.
Yes, it’s not performing anything like I was expecting either. I was surprised there were trades at all yesterday. It’s NFP today and not many traders take trades on the Wednesday/Thursday before it either so I wasn’t expecting any.
Agree with SI HI, very clear analysis of current performance, which is abysmal.
Another big concern is the lack of communication, very fast to respond when signing up but once on board silence……………….didn,t expect fast responses to queries as they are traders and so busy, but,they are providing a service and appear to be keeping their heads down. i have given up trying to contact them now and like SI HI will run this month and decide but, given the communication issue will probably bail out, shame.
Perhaps Cashmaster could respond about the communication ??
I’ve had no problems with communication but I use their [email protected] address, or the contactus@ address rather than the subscribers@ address which some people have been using and not getting timely replies. Try that.
Hmm, will give that a go, thanks