Problem LITE FOREX closed 17 of my positions in 45 seconds

[Pharaoh]

Is there any chance of 3rd party involvement? There have been cases of a trade platform being hacked and remotely controlled. This would allow someone else to manipulate trades and the broker would see the activity as coming from the trader's computer.

I'm always worried about the possibility of a broker plotting against a successful trader, but I can't picture 6 euros being worth the time or effort of even the worst broker.

 

[mikewise]

Is there any chance of 3rd party involvement? There have been cases of a trade platform being hacked and remotely controlled. This would allow someone else to manipulate trades and the broker would see the activity as coming from the trader's computer.

I'm always worried about the possibility of a broker plotting against a successful trader, but I can't picture 6 euros being worth the time or effort of even the worst broker.

There is a point here you got it wrong (but you're not the only one, unfortunately):

- a broker might take action against a successful trader. But a broker will immediately take action against a successful system. The money is not important vs the system. There could be 1Eur involved or less. The experienced ones know I'm right. This was the whole point of setting up a bulletproof system and their action was only QED (quod erat demonstrandum).
I expected them blocking me one way or another, that's why I used a small account.

- But I didn't expect you, moderators, to act and talk like this.
If you are talking and thinking that way then my place is not here. I thought you were an army with knowledge and strategy. I see you are only soldiers, no offense.

...And I can not get rid completely of the thought you are "involved" with (some of) the brokers.

P.S. 6Eur is not a stake for me either.

 

[Shuvalov]

Is there any chance of 3rd party involvement?

Hello,

I’ve asked our tech specialists this question, and they said they more than confident that the trades were closed by the mikewise’s EA. There have been occasions when the 3rd parties hacked the clients’ accounts, but in those cases they first stole personal data from the client’s emails. And what is more important those hackers logged on from different ip-addresses. In our case the trades were closed from mikewise’s ip-address.

As far as mikewise’s successful system concerns, I should say that I meet a lot of people everyday who thinks that they have found the Holy Grail. So what? Some of them are right, and some of them are wrong. Do you mean to say that you are the only trader with LiteForex with profitable trading systems?

 

[mikewise]

"With a little help from my friends"

Come on now Mr Shuvalov, this is bravery in excess, since I already said I quit.
Your main theme right now should be the old tune "With a little help from my friends".

 

[roryrivera]

Same thing happened to me at WorldProFX in Panama

I was using TomsEA and getting outstanding results using a mirror trader (Tradency); in just three weeks gained $12000 with a base of $10000 , and all of a suddden the broker closed all my positions without notice:



The EA designers are puzzled and worried and looking at the logfiles; they cannot understand what happened. The EA has never behaved that way and I never closed any orders manually since it uses martingale.

Rory Rivera

 

[stevesmain]

Mikewise is correct in one area. The dealers are not overly concerned about the amount, it is the system or trading style they watch out for.

Mike did you copy the mt4 journal at the time? It may show the ea being loaded & or unloaded at the end of the trades being closed.

As far as the tech specialists being more than confident this does not inspire confidence. Just because the ip shows a source is not conclusive evidence, one would expect that the source for a close is the station in question again the journal log ought to show the activity. After all why was the station disconnecting so much? Were they a sleep at there switch? Do they have an answer for that?

Rory may be shedding some light.

 

[Pharaoh]

There is a point here you got it wrong (but you're not the only one, unfortunately):

So you aren't even willing to consider the possibility that your PC may have been compromised.

- a broker might take action against a successful trader. But a broker will immediately take action against a successful system. The money is not important vs the system. There could be 1Eur involved or less. The experienced ones know I'm right. This was the whole point of setting up a bulletproof system and their action was only QED (quod erat demonstrandum).
I expected them blocking me one way or another, that's why I used a small account.

You've GOT to be kidding. If I were a bad broker, I'd let you test your "bulletproof system" on a demo account and then a tiny account so you could make a nice pile of pennies. The core of any con game is to build confidence so that the victim puts plenty of money on the table (preferably also inviting friends to invest). I'd know that sooner or later, you would feel confident enough to put some real money in and only then would I either wreck your trades or block your withdrawals.

If you are talking and thinking that way then my place is not here. I thought you were an army with knowledge and strategy. I see you are only soldiers, no offense.

Guess I should just delete all those articles I wrote about strategy for selecting a forex broker, account manager, forex products, risk management, etc. and go back to marching up and down the field.

...And I can not get rid completely of the thought you are "involved" with (some of) the brokers.
.

I've agreed with Shuvalov sometimes and viciously disagreed with him sometimes. I guess that you consider anything other that 100% support of your viewpoint without even considering other possibilities to be some sort of evil plot. Sorry, but this soldier likes to see the whole picture and doesn't use "brokers are frequently bad" as an excuse for not carefully thinking about a situation.

 

[Shuvalov]

I was using TomsEA and getting outstanding results using a mirror trader (Tradency); in just three weeks gained $12000 with a base of $10000 , and all of a suddden the broker closed all my positions without notice:

View attachment 4614

The EA designers are puzzled and worried and looking at the logfiles; they cannot understand what happened. The EA has never behaved that way and I never closed any orders manually since it uses martingale.

Rory Rivera

I can't comment on this because you traded with another broker, not with LiteForex. Your situation may be completele different.

 

[Shuvalov]

After all why was the station disconnecting so much? Were they a sleep at there switch? Do they have an answer for that?

This is a good question. mikewise was the only person who reported the connection problem (usually when there is a connection breakdown we have a hailstorm of complaints from our clients). That’s why I haven’t mentioned it before.

I’d like to attach here log files of some of the closed trades. Pay attention that these log files are not ours, they were sent to us by mikewise. You can see that the trades were closed from the client’s side. These are log files, and so far the only thing we have seen from mikewise is his words, unproven by anything. Words are just words, and our log files are real facts.

That is why we would like to see apologies from mikewise, because the accusation that he made was very serious.

 

[mikewise]

One single question

I said I quit this forum but this shuvalov guy is pushing his luck trying to make me look a liar.

Alright, alright, I got it: this is his playground, but he already lost his face after I explained everything. As I said, the experienced traders will know if I was right.

I immediately sent to Liteforex in all confidence the logs they asked, I had/have nothing to hide. I clearly stated to them and I clearly stated here how it happened: I was nearby my computer then sat down in front of it and I saw everything.

I am using a fiber optics connection and I am always running at least 8 brokers. I took a quick glance to 4-5 of them and they were working fine.

I clicked Rescan servers 4-5 times; after 1 min or so one position closed, I saw the connection was back again and then the other 16 positions closed in front of my eyes.

I only took some screenshots afterward focusing on the moment the connection restored. In this screenshot I selected the "login" row (as if I logged in again, mind you!) and above that row there are stacked the 17 closing commands. My picture couldn't include all the journal, but anyone can see the speed with which the orders closed. Normally the Liteforex MT4 couldn't close any order faster than 4s, not to mention the requotes.

Well, 17 orders went bang-bang-bang in 45s. Divide 45 to 17 and get 2.65.
The trade copier I'm using is the Personal Trade Copier from MT4i and I tested it for 2 months. I use it in all confidence.

Thank you Rory Rivera and thank you Stevesmain for your posts.

I'm leaving for good but before that I have a question for the readers of this thread. One tiny little question:

- those logs are their only proof I guess, at least the representative is referring to them a lot.
If I told the truth all along (assume I did) and they did everything on purpose, as I said, then what would those logs have looked like?

My answer: the same they look right now!

Goodbye,

Mike