Discuss AutoFxMillionaire.com (Matthew Burton)

[Jas55]

How are you guys doing with the EA this week?

I notice that the trades are still copying zulu but my account seems better thanks to branmans advice on lot sizes.

 

[kmcclain]

AutoFxMillionaire - lions and tigers and bears - oh my!

Some pending trades were closed on the Master just lately for EURUSD and EURJPY. Poor money management holding both of these as a buy and in the Euro family as they went down, down, down. Personally I closed out waaay long ago.

Here's the current pips on the members page for the month.

2011-09 -2,493.2 pips
2011-08 659.3 pips

 

[Rollieroger]

I hear you, I had to hedge with my favorite commodities, Gold & Silver and I knew the market was/is only making a short term pullback so will be holding these for long term just keep moving up the stops. Above BE on silver already.

Obama's words will do just as Bernanke's will, temporary wildness then in a few days or so the market will get amnesia like it did when US got downgraded. Oh ,how quick we tend to forget!!!

On the E/U yeah, in my opinion I think the market will be in a downtrend when/if it breaks that 1.3835 area, already 2 day close of the 200 MVA signaling a possible trend change to the downside.

Yeah, I saw the race below the 200 ema (daily) and had to just shake my head.:unhappy: I am not despondent because I didn't close out my S&P put. I also found out that the limit order for another put in my investment account got filled (even though it didn't fill on the open yesterday). I am now up 55% and 60% on my puts so I have absorbed the losses that AutoFXmillionaire heaped on. I will be anxious to see how it now responds.

No volume on in the stock market for any rises. The connection between the stock market and gold has been gone (for the most part) for a while, but there still seems to be the connection between stocks and the fx market. With the stock market so grim (50 ema < 100 ema) it seems that the dollar will continue to strengthen, as hard as that is to believe. But, the EURUSD did break the 200 ema on the daily and the trendline on the weekly, so I would expect it to drop considerably from here. It is just so hard to fathom with the mess we are in. What, there are bigger messes?? (at least in some big bankers eyes)

Rollieroger

 

[SNGB240]

Some pending trades were closed on the Master just lately for EURUSD and EURJPY. Poor money management holding both of these as a buy and in the Euro family as they went down, down, down. Personally I closed out waaay long ago.

Here's the current pips on the members page for the month.

2011-09 -2,493.2 pips
2011-08 659.3 pips

Also notice how they removed those huge losing trades from the Master Trade log (all on the EURJPY I believe and possibly a EURUSD). However, they forgot to alter their monthly total (still listed as -2,493.4 pips for 2011-09). Doe-doe heads...
Starting to really stink of "scam artists."

 

[SNGB240]

Also notice how they removed those huge losing trades from the Master Trade log (all on the EURJPY I believe and possibly a EURUSD). However, they forgot to alter their monthly total (still listed as -2,493.4 pips for 2011-09). Doe-doe heads...
Starting to really stink of "scam artists."

Now they've just changed it to a gain of 381.6 for 2011-09.

F-ing LIARS...

 

[branmanfxtrader]

Also notice how they removed those huge losing trades from the Master Trade log (all on the EURJPY I believe and possibly a EURUSD). However, they forgot to alter their monthly total (still listed as -2,493.4 pips for 2011-09). Doe-doe heads...
Starting to really stink of "scam artists."

Wow!!!, I can't believe they did this. Just awful, you can't change the truth. That's why I left this EA on a demo, to see what kind of people are running this thing. Terrible to hide the ugly to try and make yourself look big, you lost plain and simple. They allowed others to beta test it and released it to the public so they can't change the facts.

I will be watching the demo now for a little while longer. Since they won't be honest about they -2493.4 loss now no one is going to trust them. This is not how you make a good name for yourself. I guess that's to trick the new people who will come along and sign up and look at the Master Trade and say , hmmm this looks good, let me put my money at risk with these folk. Admit it, they made a bad mistake on money management. Like I said before, I would never have let my losses get that far out of control. 500+ pip stop loss is way too risky unless your doing long term trading using Daily, Weekly and Monthly Charts. This is not their style, they are short term trading.

Just like today in Gold, before I went to bed, I had a trade on at 1852.29 and the price ran up to 1886.05 over night so I was too tired and moved my stop up to 1857.29 , locking in just $5 (500 pips on Forex platform), and went to bed. Woke up to a +$5 gain and slept good. Gold had dropped from 1886.05 down to 1822.95 , that's well over $63 or 6300 pips on my platform. Why did it drop? I don't know and don't need to know. Bernanke said some stuff, Obama said some stuff, Europe is in trouble. Who knows what is going on? Just do your own technical analysis and ALWAYS use stops and Take Profit Levels. I implore trade and risk management on all of my trades, that way I don't care if I loose some because I will get it back in other trades but it will be a very small amount to my account size. If the environment is confusing, I go find something else with a clear picture like the E/U and E/J heading down.

You can't be hoping and praying or letting losses run without any kind of risk management/trade management in place and you can't be greedy, there is always the next trading session. YOU DON'T KNOW WHAT WILL HAPPEN IN THE MARKET SO PLAN ACCORDINGLY WITH YOUR RISK!!! As I said in another post, I will not ever let a EA just run loose, I have to be involved even if I'm just managing the trade.

 

[kmcclain]

Stop loss

I agree, I couldn't believe it. I closed down all my EUR/JPY when the highest one's loss hit -47 pips I think since there were 4 running by that time. But then I'm not a millionaire yet. If these were actually running in his account, I wonder if he's still a millionaire. Normally he's only scalping for 10-15 pips for each trade. The EUR/USD ran wild in reverse too about 3 of those. When you look at the EA stats on your platform, there is a code for reverse on their end. They might want to learn to use it. I've found that he was using the top 2 Zulu traders to get his trades - but of course, after this fiasco they're not in the top 10 anymore and some of their followers certainly had a few words to say to them. Think of the money we could make on these long runs if they were in the right direction! There's a saying in Forex, "cut your losses short and let your winners run." Maybe we could get him to hire someone who knows Fibronnaci. Then they would have some idea of where we're going and in the right direction, knows the difference between a C retracement and a D extension, and certainly could spot a bear or bull crown for a reversal!

 

[Jas55]

Now they've just changed it to a gain of 381.6 for 2011-09.

F-ing LIARS...

What a clever scam!!

I'm going to let my demo run for another week and then report back on my trades to master trades.

Let's see what he does this week to recover the real losses before we all cancel our subs and expose the truth.

So ANGRY!!

 

[MikeyC]

Can anyone please tell me how I get a refund via Plimus? What is the procedure?

Thanks,


Mike

 

[Jas55]

After only 1 week, forexverified have stopped their test.

Their account went from $10000 to $300 having followed the advice to trade lot sizes of 1.0

They are now going to run a second test with lot sizes of 0.5.

I'll keep you all posted