Discuss GenialInvest.com

[Phil mollot]

That said, I have my own doubts about the approach (see my "evaluation" when it shows up under "Aaron from Texas" --- currently being moderated). While I was nowhere close to a margin call, I hit a 42% drawdown last night between closed & opened. It's a bit better now. But I don't see how it can get out of this in under a week, if it can get out of it at all, let alone see a profit.[/QUOTE]

Well, some good news and a big turnaround day. GI is still trying to hit the revised target so we shall see. Seems like a lot of risk for smaller profit but thats how they roll.
We are in a downtrend 50ma about to cross the 200ma and a serious bear flag formed feels like I'm running uphill.

 

[aicohn]

How does this thing work?

I just have no idea why this thing let a gain (even including the recent closed losses) turn into a loss. I have no idea why you'd want to do that rather than just close everything at breakeven & keep your powder dry for another day.

I mean we're going on 2 weeks with some of these now...

 

[jabhook]

Not A Good Start

I setup Genial Invest on a dedicated subaccount at Oanda FX, running on a dedicated server at Rackspace yesterday afternoon and funded the account with $100 to test (I know Genial asks for more, but they do have a single statement on the site saying that traders are welcome to run at their own risk with smaller accounts if they don't flood them
with support emails).

The setup was easy and I made sure to dot all my i's and cross all my t's in the setup. The only difference between my settings and the recommended is that I'm on a regulated account with a 50:1 leverage (not the 100:1 they recommend).

I logged into my server this morning to make sure everything is a go for the opening of the markets this evening and was ver surprised to find several trades opened and closed. Looking closer the EA opened and closed 11 trades in 28 seconds at 5:36am this morning (Sunday, September 18, 2011), and in short order wiped out 11.75% of my account.

Definitely not a good start, against my better judgement I'm going to let the teat proceed. Can anyone tell me whether they have experienced the same?

 

[aicohn]

smallest compatible balance

From what I can tell, the smallest balance compatible with this EA is $1K in an account running with a minimum lot of .01. When they say smaller balances, they have contemplated a trial with $1K on an account that allows microlots and 100:1 leverage, though they require $10K minimum after the trial period and state clearly that 50:1 leverage may subject you to margin calls.

The problem you most likely had is that the smallest balance your account allowed was .01, so the trades were opened that size & between your inadequate account balance & tiny leverage traded right into forced margin liquidation. At 50:1 it takes $28 give or take to open each .01 position. Open 3 of em and that's $84. You say you had a $100 account? Most brokers won't let you get to 100%, but will margin call you at 125% or 150%.

Try it again with $1K on an account that allows .01 lot & with 100:1 minimum leverage or you're just throwing your money away. I don't know whether a nano or cents account with a balance like that could work. .01 with $1K is the smallest I know that will work. Don't try with less than $10K on an account where the smallest lot is 0.1.

My humble opinion.

 

[jabhook]

Thanks for your feedback. I've manually traded with Oanda since the beginning of the year (and before that with ODL), and have been Martin called a time or two while testing models. I looked closely at te account activity and it was clearly opened and closed by the EA, not margin called. 5:46am on a Sunday is also a very strange time to trade, did anyone else see these trades open?

That said, I do agree with you and think I should open an account with another broker. In the meantime, I'm going to let this test run for the week and see what comes.

UPDATE: Another single trade opened and closed within seconda at 11:46, exactly six hours after the first flurry of trades. Minus another 2%.

 

[ANDREW KING]

BE very very careful WITH GENIAL INVEST

Watch out for these guys. I opened a 10k account with Hotforex, got a 500:1 leverage and a 50% bonus. The bonus actually hurts you though because it shows up in your account like it is there but you cannot use it until after you do 5,000 10lots(get around 1 pip rebate on each lot traded, but don't get the credit until you have made all the trades), so the EA thinks you have 15k in your account so it will trade larger sized lots. I have had this EA trading my account this month, it has done terrible. It took my 10k and over night it went down $9,200, I had to add money to my account today to keep from getting a margin call. If you look at some of the open trades it had, it had a huge stop loss for a mere 50 pip profit. These trades were against the trend and opened for about 2 weeks the s/l kept get bigger and bigger until it finally hit the S/L and lost over 60% of my account, and looking back on it the individual trades were at times down 400 plus pips risk to get a potential of 50 pip profit. A risk:reward ratio of 8:1. These guys need to change something to stay profitable with the market changes that have occurred. If you want proof of this check out the risk:reward ratio on your trades Genial is doing. It is disapointing that they can hold onto loosing trades so long that it finally nearly wipes your account out. Genial should cut losses quick, and also if they have been holding trades for a couple weeks if it turns profit take it, fon;t get greedy and hold out, and end up loosing BIG.

 

[Jawadjee85]

Genial ??? any explanation? why are you blowing accounts ?

They do not have any explanation neither they care at all. its your money which they are burning in their no experienced system. try them if you hate your forex account.

Watch out for these guys. I opened a 10k account with Hotforex, got a 500:1 leverage and a 50% bonus. The bonus actually hurts you though because it shows up in your account like it is there but you cannot use it until after you do 5,000 10lots(get around 1 pip rebate on each lot traded, but don't get the credit until you have made all the trades), so the EA thinks you have 15k in your account so it will trade larger sized lots. I have had this EA trading my account this month, it has done terrible. It took my 10k and over night it went down $9,200, I had to add money to my account today to keep from getting a margin call. If you look at some of the open trades it had, it had a huge stop loss for a mere 50 pip profit. These trades were against the trend and opened for about 2 weeks the s/l kept get bigger and bigger until it finally hit the S/L and lost over 60% of my account, and looking back on it the individual trades were at times down 400 plus pips risk to get a potential of 50 pip profit. A risk:reward ratio of 8:1. These guys need to change something to stay profitable with the market changes that have occurred. If you want proof of this check out the risk:reward ratio on your trades Genial is doing. It is disapointing that they can hold onto loosing trades so long that it finally nearly wipes your account out. Genial should cut losses quick, and also if they have been holding trades for a couple weeks if it turns profit take it, fon;t get greedy and hold out, and end up loosing BIG.

 

[Albert.b]

Account in tatters!

Real money account trial in tatters, only $18.00 left!

The doubters have been proved correct!

 

[aicohn]

Great example what not to do

That's the only value this ea has. Bought a break of support & kept on buying. Had multiple opportunities to exit with a gain and later at breakeven that were ignored. Wound up killing the account.

Most newbies with 6 months experience can do better than this. Losing an account is one thing. Losing it because of stupidity??!!

Horrible.

 

[ANDREW KING]

Genial Invest

:hissyfit:read thier own responses taken right here on forexpeace army website:

"Our system has a totally different approach to the market, differently from any other loser EA that gives the illusion to be profitable just because of fixed and large stoploss. At a certain point most of them give you loses because of the market changement."

I guess they were talking about thier EA. It just wiped out it own account and all the accounts of everyone following them.
Then if you go on to read this statement once again posted right here in forex peace army

"Dear Clients, we saw many posts regarding big drawdown and risky trades.
Everybody knows that drawdown is the max loss relating the own capital. If you trade 1.000$ with 0.10Lot for each trade, what kind of drawdown will you expect? We hope you're intelligent enough to remember that moneymanagement is everything. If the Strategy is winning (like Genial) doesn't means that you will be succesful is you don't have a correct money management.
Our software has an automatic function that, if you want, will use our same risk. But you should have as minimum the same sum of our capital (and microlots 0.01 available) and don't use other expert advisor or trade manually.
As usual only people that are disappointed write on forums, to justify their mistakes. We would like if someone of our clients who is making money could release some comment here to share with everybody the results we're getting togheter."

Funny part is they mention that money management is everything, yet they do not practice what they preach.
And we do not want to miss that last line they posted about how they would like some of thier clients that are making money to comment here. So I wil comment, we made money for about 2 weeks, then everything starting going south. Had you practiced proper manangement like you mention is everything, maybe I would not have lost my entire $15,000 trading account in less than 1 week. You just kept moving stop losses further away and opening more positions as the trades went against you. You wiped you entire account out and everyone elses. check out the results page now.