GUILTY Case# 2017-055 | jeffie1 vs mygoldensignals.com

[jeffie1]

What type of signals do they provide - for forex trading on margin account or for binary options trading?!
In case you are trading on margin, you should risk no more than 1-2% from your balance per trade. Still, a win ration of 70% and above is very good for both types of trading instruments but it depends on the risk management.

ruseneca: you need to research OTM, ATM and ITM options. What you state is just not true.

This bogus strategy is for Nadex binary options. I have an OTM strategy that is quite profitable with a 21% win rate and an ATM Strategy that also does well at a 53% win rate. For an ITM Strategy you need 90%+ to be profitable (which is what this seller claimed).

 

[ruseneca]

ruseneca: you need to research OTM, ATM and ITM options. What you state is just not true.

Which part is not true?! 70% is not good win rate?!
For the above-mentioned types of options, this is considered as extremely high win rate! Normally, people make from 5% to 10%.

Anyway, keep testing it. But remember that each strategy must be modified according to the market trend!
Unfortunately, if the seller does not agree to refund the transaction, there will be no other way for a refund as this is considered as a "digital item".

 

[AsstModerator]

A system where you risk losing $1 to make $1 is profitable if the win percent is above 50%.

If you risk more to make less, the required win percent for profitability goes up.

 

[come in spinner]

Did the company guarantee you a 90% win rate too? If not, it may be hard to get a refund.

 

[jeffie1]

Did the company guarantee you a 90% win rate too? If not, it may be hard to get a refund.

Yes. In my evidence, I provide a link to to one of the sellers many Youtube videos where he makes his claim of 90% win rate. Also, if I can't get a refund at least I can alert anyone considering buying this guys products as to his lack of integrity.

 

[jeffie1]

Original FPA Traders Court Submission by jeffie1:

Link to YouTube video where seller represents win rate at 90%:

90% win rate at @ 14 min 10 seconds

 

[ruseneca]

Guilty!!!
Noone should guarantee such a huge number of profitable deals.

 

[dalenathens]

I was under the impression that a 73% win-rate admirable for a beginner.

 

[DavidK]

I see a similarity in behavior of Golden signals and Midasglobe with pairsindexpro. They are all smammers and screwing innocent traders.
GUILTY in all meaning.

 

[Tryingtrader]

If it is necessary to win 9 trades out of 10 to be able to make any money (90%), then you're in the wrong game from the outset. If on the other hand if it is a 90% profit on money risked that is being promised, that is exceptional! I would be very happy with a promise of over 70% profit from money risked (provided the promises were kept). It is not clear in the posts what the problem is. I suspect the only money lost is the cost of the system. However a failure to communicate meaningfully and argue your corner or demonstrate the system really works with verifiable trading records, points toward scam activity! In Traders Court a failure to communicate and ignoring repeated requests for a response is a classic sign that "There is no defence", so I must vote Guilty!