Can you munipliate performance results on fxstat / myfxbook?

[Inequivalent]

Hi,

Just a question, is it possible for someone to alter their performance shown on fxstat or myfxbook? For example I saw 1 performance system on fxstat have a +500% month, could that of been faked somehow?

Or am I able to trust the resuls shown at fxstat and myfxbook?

Thanks.

 

[AsstModerator]

Many MT4 sharing services allow trades to be filtered by start date. You could set the start date to the most recent low and your stats will look good.

Some allow trades to be filtered by comments on trades. You could use 10 different comments across your trades and select the 2 or 3 best sets to show.

A few require traders to save an MT4 statement and then upload it manually. Those saved statements can be edited.

All of this is why FPA Performance Tests pull the data directly from the MT4 server. No date or comment filtering is possible. The only thing that can be hidden is open and pending trades, but floating profit and loss is always displayed.

 

[Inequivalent]

Many MT4 sharing services allow trades to be filtered by start date. You could set the start date to the most recent low and your stats will look good.

Some allow trades to be filtered by comments on trades. You could use 10 different comments across your trades and select the 2 or 3 best sets to show.

A few require traders to save an MT4 statement and then upload it manually. Those saved statements can be edited.

All of this is why FPA Performance Tests pull the data directly from the MT4 server. No date or comment filtering is possible. The only thing that can be hidden is open and pending trades, but floating profit and loss is always displayed.

So fxstat and myfxbook should be safe? As I thought they pull the data directly from the mt4 server.

 

[GOR FX]

The only way to ascertain this is to give the " good trade'' a new MT4 and let ask them to replicate the 500%........ chances are, they will be unable

 

[tim61468]

I actually use FXJunction and have thought the same thing after seeing some of the results that are posted there. I was wondering how easy it is to manipulate this data to make it look better than it is.

 

[AsstModerator]

To test these...

See if they will let you chose your own start date instead of starting from initial deposit.

See if hiding open trades also hides floating profit and loss.

See if you can filter by currency pairs, comments, or anything else.

 

[Inequivalent]

A certain trade has given me their investor login details to his trading account and it all seems very impressive. Does this confirm his trades are legit? You cant alter trade history can you in mt4?

 

[AsstModerator]

Is the account live or demo? Is the broker regulated by one of the major regulators? Are the results too good to be true?

 

[Inequivalent]

Account is live, broker they claim is JP Morgan (server is named GTP-JP)and results are very good. I'm not asking if its a scam, I'm asking if people can change results in MT4.

 

[Pharaoh]

If you are directly logged in using investor access, the methods of cheating are very limited. A small number of very bad brokers have been known to cooperate with scammers and provide "special" trading environments that allow a scalping bot to make enormous profits - but only for the seller.

One other thing to watch out for. Cent accounts have 1/100th the money that appears to be in the account. 000 accounts have 1/1000th the money. These would enable a scammer to appear to be trading much larger sums. The scammer could have multiple accounts and then provide you with investor access to the best one of the bunch. To combat this possibility, follow the account for several more months and see if it continues to show performance consistent with what you see in the history.