Problem LITE FOREX closed 17 of my positions in 45 seconds

[Shuvalov]

mikewise,

I haven’t actually noticed in what way exactly you “explained everything”. All your so called “explanation” was that experienced traders will know if you are right. That’s all.

This “explanation” of yours is based on the idea that we monitor all our clients to find out if they use profitable trading system. Is it a normal idea? We have tens of thousands clients, but you apparently think that all of them are being watched by us. I’m not even mentioning that by the time that we identified your trading system to be extremely profitable you had worked with LiteForex for less than 3 months. I hope your “experienced traders” know that it’s rather a strange thing to judge a trading systems for such a short period. By the way the price of the question was 6 euros!

Your “explanation” wasn’t the only thing that I didn’t notice. Neither did I notice that I lost my face “after it”. Neither did I notice that I‘m “pushing my luck” and my bravery is “in excess”. It seems to me that from the very beginning somehow you were of the opinion that I must be afraid to have a dialog with you. Why should I? I can see no reason.

You have words and I have facts. You have a conspiracy theory, and I have log files. Whose position is stronger? I published the very same files that you send to us. They say: it was you who logged in and gave orders to close the trades. Aren’t these your own files? But all this means nothing to you because “brokers watch for profitable trading systems” and “experienced traders will know if you are right”.

So I’m glad that you are saying good bye. So do I. I wish you to find a broker with less conspiracy level.

By the way, I don’t want to call you a liar. I didn’t say that. What I said was that it was the EA that caused the problem, not we.

 

[stevesmain]

From the journal logs that were presented. By the way neither are complete as they must show the start and the end of this action as it is at the end one would see the closing of an ea. Though they do not show the start of an ea being loaded.

In both journals it shows a "login" which signifies a disconnect & reconnect. Mike was not wrong here. For what ever reason this obviously happened & apparently was the start of the problem.

Mike would have had to be very nimble of finger to close all the trades as fast as he did.
The speed of the closing of the trades seems to indicate some kind of ea at work but the journal file presented does not show this.

The journal files show the activity of the trades on the acct., not who initiated the trades. The speed of the closing indicates Mike unlikely did it manually.

The likely chance that someone hacked mike and closed those few trades is highly unlikely. While the expression anything is possible, it is the probability that some one would do just this little bit of damage is improbable. Here again the speed of the closing makes this improbable, a hacker knowing exactly how to close a trade and many times at that!

mt4 will disconnect & reconnect randomly with various dealers, may be a server issue that affects few clients, perhaps even the routing of the connection on the net. Yet other dealers do not experience the same issue. The server may refresh it self and affect only a few? If Liteforex uses a provider like Leverate than the connection issues are explainable. (To test, there demo login server was not possible as only mt5 would download)

If the techs confidence was based on the journal their analysis seems not thorough.

 

[Shuvalov]

The fact that it is not shown in the journal logs that the EA is being loaded doesn’t mean that the EA hadn’t been already loaded. The EA could have been loaded 5 days ago (for example), and this could be seen in journal logs 5 days ago. The information that EA is loaded now must be in Experts Tab, not in the journal logs.

 

[stevesmain]

Mike has stated enough info to believe him that there was no active ea, nor did he close his trades intentially

Liteforex is throwing up many a possible causes without doing their homework. Some what of a smoke screen?

 

[Shuvalov]

Which info makes you think that the ea wasn't active? Which homework should Liteforex do? Which smoke screen? Actually I got tired from hollow alligations.

 

[mikewise]

Mike has stated enough info to believe him that there was no active ea, nor did he close his trades intentially

Liteforex is throwing up many a possible causes without doing their homework. Some what of a smoke screen?

Hello Steve

Thank you for really trying to analyze the matter. I thought this was for the people in charge of the forum to do, in the first place.

I had at that moment a trade copier which was active, that's all.
My other 2-3 EA's were all shut down, I checked them 3 times afterwards.

As I said earlier in one post, the trade copier received signals from a MT4 platform where there was a Forexcelent EA running. The Sender EA didn't move or blink at all, it was the first one I immediately checked upon.

During the last 1 year I've been backtesting, optimizing and forward testing EA's. I'm quite good at it and I really have notable results - you'd be surprised. I couldn't do basic mistakes, as newbies do. If I say an EA is shut down or is not operational believe me I know what I'm talking about.

In my opinion the problem here is much, much more simple: Liteforex is deliberately harassing EA users, in order to discourage their use. They know there are nowadays a bunch of good EA's and maybe they already lost some money because of EA's.

They are reluctant to clearly state on their site: "No EA's allowed". Some time ago they mentioned on their website "EA's welcome". Now I can not find any EA reference whatsoever on their site.
The mention "EA's welcome" was a basic feature for me to open an acct with them, in the first place.

Regards,

Mike

 

[stevesmain]

This is a situation that the client is innocent until proven guilty.

Liteforex has the journals to go back & identify when a ea was used. If it was days ago then look into it go back those days. Not just say that they were likely present, prove it! That is your homework.

To start with & restate the journal showed a relogin just before the trades being closed. That is enough for liteforex to take Mike's comments serious, it supports him.

If they claim an ea was used or lingeringly present research the journals to find out were & when.

If lite is not willing to search out the situation then there is only one conclusion. That the allegations of Mike are correct, that they are testing ways to disrupt ea's usage & starting with a small acct.

 

[Pharaoh]

LiteForex says the logs from mikewise's account taken from his own PC show the trades being closed from his end. A broker can easily manipulate logs at their end. Editing logs at the client end would be difficult.

On the assumption that there could have been close orders that did originate at mikewise's workstation, the questions would be how did they close so quickly and what closed them. He says he's placing the orders via a tradecopier. is there any chance that the slave end of the tradecopier has a "close all" feature that could have somehow been activated (accidentally, or as a safety feature when the connection to the MT4 server became less than stable)?

Assuming mikewise hasn't quit the forums again, perhaps he could post more details both of the trade logs as well as whether the tradecopier has a close all function or if he has a close all script installed in the copy of MT4 he was using with LiteForex.

 

[mikewise]

It seems I can not attach anything here. I keep getting the message "Invalid file".


- I never use scripts. I am testing EA’s and I let them run with the least possible interference.

- I have no clue whatsoever about the log files. I am attaching them here, for anybody to see, cause I have nothing to hide. I think liteforex representative already uploaded them.

- I am using the free Personal Trade Copier from MT4i. Not sure if I am allowed to upload it here.
I am attaching its setfile though. I can not find any “close all” feature.
Important note: not all orders were closed.
17 orders have been closed and 15 stayed in place.
All open orders originated from the trade copier, I didn’t trade manually those days. I did manually close 3-5 orders earlier that morning, as I wrote in my claim to liteforex.
(Every time I mentioned the incident I wrote “17 of my positions”)

- I’ve been demo testing EA’s a lot. Some of the accounts go several months straight, 24/5. I have never witnessed the slightest incident whatsoever.
How come when one is going live all sorts of things happen: the EA’s go mad, the platform itself becomes unstable and so on? There must be something mystical/unknown here, ha-ha!

MT4 platform has in its structure an option for using EA’s. It was designed that way, as far as I can see it. A registered broker using a registered platform must comply with it.
How can some brokers send EA’s in a gray zone, trying to impose understatements like:
“take care, if you are using an EA bad things can happen”
“why are you complaining? you were using an EA”
“closed orders? your EA has gone mad, for sure”

How can a broker’s representative dismiss with a hand twist a complaint from one client?
They do that cause we’re allowing them to do it.
This forum allowed them to do it right in front of my/our eyes.

 

[RahmanSL]

mikewise, contrarily to what you believe and is posting here, Pharaoh is a respectable member of the FPA and is very much on your side.
He is just trying to be as neutral as possible as he (and a lot of us here too) does not know hwat exactly happened to your closed trades.
If you take some time and check back on past "scam" cases against various brokers, you will see that Pharaoh is right there in the thick of the battle with the victims and he has been called names by these scam brokers too.

So lighten up and stop blind accusations as the FPA is just about the only site in the whole wide web where traders who have been scammed has an outlet, and a chance, to recover some, or in many cases, all of their money.

As for your inability to post attachments here, it may be that you are still too new and the FPA moderators prevent new members from posting attachments as an anti-spam deterrent.

Even though the amount of money is small, I do hope you can find out what exactly happened for your opened positions to close so fast and, apparently, without your intervention.
I don't use EA nor do I know much about them and so cannot contribute to your case.

All the best!