When you examine the Detailed Statement on the FPA test, you will notice the typical trade is > 15 pips & remains open for > 1 hour.
Although the spread can often be an important component to overall profitability, that is most often true when trades are tight, frequent, and small. This service is not a scalper; so therefore, any honest broker or ECN/STP commission house should provide results fairly close to those published here on the Alpari FPA test account. The real risk in this service is not your choice of broker, but that the trades are dependent on unknown human traders on the source end.
All I can say is that when I was an Astronaut back in the '60s, I was only as good as the last switch I threw.
Examine this record for Genial Invest, a Spanish signal trade copier that amassed a very large following recently: http://www.genialinvest.com/ http://www.mt4i.com/users/genial/stats
Commissions collected, client money gone. If I had sponsored or promoted such a scheme as this while an NFA Registered CTA in the USA, I'd have been fined, stripped of my license, bankrupted, and in jail today. Caveat Emptor.
Anthony Ingrassia, CTA
NFA ID#: 0278164
FPA Members are a powerful lot, are here, and stand ready to help you.
First, you must understand that in order to make a forceful case, you must refrain from broadcasting wild diatribe.
Instead, you should supply some specifics for us all to see, analyze, and ultimately use to pressure the offending vendor.
Many FPA members are in positions to help you.
As angry as you may be, you must resist the urge to just vent here; if you truly desire assitance.
Just calm down, and simply explain your exact experiences as best you can, for all to view and evaluate.
Only then can anyone here make some meaningful suggestions.
Easy does it; slow and steady wins the race.
ForexSigma is definitely not a scam. I'm the new owner and I took over in the 2nd half of august. From now on, the software is going to work a little bit different, it will be updated all the time, depending on the current market conditions. I don't want it to run with no control whatsoever, because thats why most forex robots fail long term. I watch and analyze each trade very carefully now. Every month I will update the settings for each pair to make the most possible profit out of it. I performed the first update last weekend and there are already some visible results. Last week the EA closed 6 trades, all winners, profit 250 pips. 2 trades are open still, both GBPJPY, both LONG.
So people don't spend too much money upfront while not trusting it completely, I added a monthly payment option. You can test it out for $29 now and if you like the performance, simply buy the lifetime licence then. Should be a win win situation for all of us, as I don't want anyone to buy something that doesn't work for him, I want people to make money with it.
I'm in the process of setting up a live account, so everybody can see the robot performing on a real account. But the results won't be different, as this IS NOT A SCALPER, so it doesn't depend on broker as much. In my opinion, a scalping robot cannot work, as many brokers can't be trusted and if the stop-loss is too tight...well, we all know what they do. Shouldn't be a problem with Forex Sigma, as with the current settings, the stop loss for EURUSD is 100 pips, GBPUSD 60 pips and GBPJPY 120 pips. Profit targets for this month are half of it, so 50, 30 and 60 pips.
Let me know if you have any questions, I reply to emails 7 days a week most of the time.
Could you please explain your relationship to the originator of Forex Sigma, for all of us to understand how you became the "new owner", why, and when.
Please provide the link to your new real money, confirmed, live tests, on mt4i or MyFxBook.
Please describe the changes in functionality you bring to the table, and precisely when they were implemented.
Forex Sigma's presence and performance had been of interest to me.
Now that it has changed hands, I would appreciate as detailed an explanation as possible of just what is involved here.
Anthony Ingrassia, CTA
NFA ID#: 0278164
sorry for the late reply, I totally forgot about this thread and since I didn't get any notification about a new post to my email, I didn't think there was one.
I became the new owner by buying the website, it was for sale on flippa.com. I took over middle august and after getting familiar with it, I started analyzing the trades more closely in september.
September 16, during the weekend, I started doing updates and I also manually review target profit and stop loss levels every week to get the most out of each trade. For example now, the profit targets aren't set randomly, I use fibonnaci levels, important psychological barriers and price action.
Since the change, the performance seems to be much better, but still waiting for some losing trades as I learn more from those. I'm pausing GBPJPY after the old trade for the pair is closed, because this pair had bad results in the past few weeks.
My live account got set up in october, its less than 2 weeks old. I will wait until the end of the month and make it public then. Right now it made 10%+ in profits, but I need more trades to show it to the public, because now it has 100% winning trades, which is not too realistic and I don't want to attract newbies with unrealistic hopes. Long term, winning trades should be 80%+ and my goal is to keep the drawdown below 10%.
I will keep you guys updated. But if you want to ask me something, please email me, because I mostly check forums only during the weekend, during the week I'm too busy with following the trades.