Piptronix.com Review

A news bulletin from Piptronix!

In the spring of this year, we decided to cease trading after it became apparent that our current portfolio of auto-trade systems was not going to perform as it had in the past.

Since then we've taken a step back to reassess our methods and look for areas for improvement. One of our conclusions is that we believe that auto-traded systems are generally not suitable for serious trading. This despite all the hype surrounding some of the more popular

I too pulled out after losing 35%. I still like the strategy and Walter DeMilly is constantly fine tuning it and tells me that he's up this month, so there may be some possibilities for the fiuture.

My story is much like the others on this review page. I started off very confident with Latitude 7--but it turned out to be a downer. I ended with this company after less than 5 work days at a 35% draw down and hurried to get out of business with Latitude 7. Latitude 7 is great, I think, for a wealthy investor who likes to dabble in all sorts of things, looking for a winner. For someone who is trying to make money--I don't have any advice.

2009-01-24 5 stars rating

I'm already in love with Latitude 7.

This past Monday, I allocated seven thousand dollars to my Oanda MA FXTrade Account with Latitude 7 as the account manager.

After one day, Walter deMilly had added five hundred dollars to the account with his trading skills. By Wednesday, there was nine thousand dollars in my account.

The Latitude 7 website is enjoyable to read with a nice design. It's true, Mr. deMilly does not offer the standard format of yield per month performance history that is usually seen on other sites--but for a serious investor, Mr. deMilly's intentions and skill set are appropriate for the kind of trades necessary to propel an investor's account to greatness.

Mr. deMilly's ability to communicate effectively over the phone is exceptional. Mr. deMilly and myself have spoken at length over the phone at least twice since I became interested in the Latitude 7 Managed Account and Mr. deMilly has made me feel very comfortable. His promptness to respond to email is also outstanding.

Regarding some of the posts about our service: I have to say, as a general statement, that it is sheer nonsense to think that one can invest in any sort of forex program without risking money or taking losses. Over the course of a year, every trader and every working system will lose trades! People who do well in forex have the patience to wait out the markets when the markets aren't behaving as we'd like. This wait can last days, weeks, and months. Check out any annual report in a listed currency hedge fund, and you'll see plenty of such examples. Out of hundreds of systems that we've analyzed in detail, EVERY system has gone through losing periods.

A month is hardly enough time to judge the performance any forex system. For example, if you look at the performance page of our site, you'll see three out of twelve months in which virtually no money was made. But the other nine months made significant returns.

It takes months, even a year or more to make judgements about forex systems. This is true when a client analyzes our own program, and it is also true when we analyze systems for our portfolio.

As to the assertion that it took us three days to stop trading a client's account, this simply is not true. The facts are that the individual who wanted to stop trading sent an email to me at 11:38 AM EST on a Sunday morning with the request. I happened to be at the computer, and was able to respond then and there. I immediately sent the request to IB OPS (the division of our broker which maps and un-maps clients to our account). I also asked the client himself to contact the broker, to make certain that his account would be taken off of our system. Our broker (FXCM) maps and un-maps accounts on weekdays, around 5PM. It was therefore not until Monday night that the client's account was un-mapped. This episode did NOT, as the post states, take three days. It took less than one working day to close out the client's account. If you are a forex retail customer and you want changes made to a managed account, you should always contact the broker.

At the same time, we are always happy to speak with our clients. We do not hide behind an email address. Our phone number is on our web site, available for anyone who would like to speak with us. And should anyone like to visit, our office is in Key West!

It is time for another update for Latitude Seven, LLC systems trading. For those not familiar with us, our business model is based on the theory that trading many systems (EA

My account has been open with Latitude 7 for about 30 days.In that time I am down over 30%. I have seen nothing positive about this company in that time. I stayed with it for a month because it seemed the owner was sincere in our communications. Turns out he was sincerely wrong.I asked Walter DeMilley to stop trading my account three days ago. I also sent in the proper paper work to FXCM to stop Latitude 7 from trading my account. They traded my account today against my wishes and lost another $200. This is upsetting! Latitude 7 does not deserve a 5 Star ting. He should also change his website to reflect his losses.

I signed up early in February and initially the returns were fine, but then there was a big drawdown - Walter DeMilly admitted that he made a mistake by increasing leverage after some clients complained about modest returns. I like the system, and respect the owner, so am holding tight for the time being even though I'm down more than 20%. No rating yet.

I opened a new account with this service 2/16/09. After looking at the website and speaking with the owner, it was hard to resist the story. At the end of February I am sitting on a 25% drawdown on the account. I am keeping the account active for now, and taking a wait and see attitude. No rating for now!

We now have in motion our new "meta system" which is essentially a portfolio of auto-traded systems. The setup allows investors who otherwise could not afford to trade ten or more systems at once, to enjoy the diversification and "smoothing effect" a portfolio offers. Taking this approach from concept to "live" required a great deal of patience and support from my clients, which I appreciate. But please keep in mind, that only time will tell if our methodology proves to be as consistent in the future as it has in the past.

We are happy to announce that we have combined several of our trading programs into one, under the new banner of Latitude Seven. Our original performance and trade list remains the same, but in the future we will be adding reports of our systems performance. By combinng our systems trading with our manual trading, we are making an effort to diversify risk while maintaining superior performance. Feel free to visit our site for further details, or to contact us with any questions.