FPA Exclusive - 70% Discount on M78

[WinFX]

Hello,

I also bought M78 via Paypal end of last week but did not receive anything from them yet.
Any problems?

Frank

 

[bernards]

I like your optimism. Unfortunately another basket of USDJPY appears to be heading towards full stoploss. Good luck.

Hey Guys,

We share your sentiments - we too thought the M78 Expert Advisor was a great investment given its impressive Live Account performance. Perhaps we're still suffering from shock at last nights events with it; OK, the markets that M78 traded dropped, but it didn't feel like it was a "out of the ordinary trading environment" - surely the M78 must have experienced this type of market activity at some point during its 19 month long existence (on live accounts)?

In terms of its performance on our account, we have experienced few winning positions and around 55 losing positions - the issue I have, winning positions are a great deal smaller than losing positions (in terms of pips). I understand that probabilities will naturally breed more winning positions than losing positions but the vulnerability that sticks on this type of system is that when you take a hit, it can be destructive. Our account is in the red by around 60% in two trading days. We will, hopefully, see through this period but another night like last night and we'll be wiped. We didn't expect the sudden down turn but always prepared to lose a pot.

Zoli71 referred to yesterdays events as a "Black Day" - perhaps there is something significant about the fact that it also occurred on a Monday. There are many devastating events throughout history that took place on a Monday. See reference: Black Monday - Wikipedia, the free encyclopedia - In relation to the markets, most of these historic events marked a significant bottom i.e. the beginning of new bull markets. The M78 EA may well be on the verge of pushing higher in terms of profit/loss (just an observation)... Hopefully our account will survive to tell the tale

All of the above said I think the Orion FX team and its members (ourselves included) have been dealt a harsh and unforeseeable blow; a proper Forex Sting in the Tail. I wholeheartedly believe that the M78 Expert Advisor was presented before us with the absolute best intentions; the facts (before the event) spoke for themselves - 800% ROI and Live Account Proof! There is little doubt in my mind that the Orion FX team will also be devastated by the outcome. It is clear they have worked extremely hard on this product and to have it almost wiped out when they woke from sleep is a difficult pill to swallow.

I will do my best to keep you updated on our progress with M78... Despite last nights events, I still think it's worth keeping on the radar. A recovery from this will be difficult but never say never.

Michael

 

[bernards]

For those of your still hoping for a rebound in your account. Please note that according to OrionFX's live account on myfxbook. They appeared to have stopped trading on USDJPY. There is another full basket heading towards full stop loss right now.

 

[Zoli71]

There is no new positon since 25th. M78 seems to be stopped trading and just left the opened positions alone. Also see the history. There was a deposit on 25th.

 

[Pere]

My account lost 40% and I guess that's FX. It's good that they've stopped the signals while they research / investigate what happened.
The vendor needs to get online and explain what went wrong and what they are doing about it, if anything.
Absolute silence is the worst action / response in this type of situation.

 

[ORION FX]

Cause of the draw down is due to the Italian election.
M78 has experienced a similar drawdown in the past

If you know in advance big event I would recommend to stop.
Not very good leaving it all to EA.

But

I think in about two months to recover

 

[ForexPolice]

My account lost 40% and I guess that's FX. It's good that they've stopped the signals while they research / investigate what happened.

Pere, do you know for sure that they have stopped the signals while they research/investigate? If Orion FX have officially ceased trading on their account we should know about it. M78 is still active on our account but it didn't trade yesterday... I wasn't concerned by this as their trades history suggests there are periods of inactivity. Our account did place a handful of trades on the 26th of February but no trades placed on the Orion FX account.

Zoli71 - I noticed the deposit into their trading account; probably to prevent margin calls.

 

[Zoli71]

Pere, do you know for sure that they have stopped the signals while they research/investigate? If Orion FX have officially ceased trading on their account we should know about it. M78 is still active on our account but it didn't trade yesterday... I wasn't concerned by this as their trades history suggests there are periods of inactivity. Our account did place a handful of trades on the 26th of February but no trades placed on the Orion FX account.

Zoli71 - I noticed the deposit into their trading account; probably to prevent margin calls.

The Orion FX account seems to be manipulated by hand and no more acts as a proof for anything. Preventing the margin call is OK, but removing SL/TPs and stop EA trading is not fair.

 

[ORION FX]

I was credited for preventing a margin call to be sure.
However, in practice, the better of the official account drawdown is greater

 

[ForexPolice]

The Orion FX account seems to be manipulated by hand and no more acts as a proof for anything. Preventing the margin call is OK, but removing SL/TPs and stop EA trading is not fair.

I agree; removing Stop Losses places the account in the hands of the Gods and is a desperate measure when most times it's best, to prevent further losses, to take the hit and let the EA recover naturally (if possible)... This type of strategy only takes one major outcome to influence the markets and the account is history. We are going to monitor it for as long as our trading account will allow but we don't plan to invest any more capital into it.

Orion FX - is the M78 Expert Advisor active on your live trading account?