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Discuss PaydayForex.com

General discussions of a financial company
large drawdown

Looking at their statement today, it shows a profit of 23000, with -6700 in open trades. At the beginning of this week the statement was 20000 in profit, with -10000 in open trades. While this shows that some trades came good, it also shows a very risky strategy ; 50% drawdown sounds like a hit and hope strategy. It seems to work, but it might not take much for it not to.
Horrible Trades and even scam?

My deposit 16,000USD.
Floating loss is 1,900USD.

They don't set reasonable S/L and T/P.
I thought that they were very dangerous.
Therefore I requested them to stop trading today.
But they haven't stopped trading until now.

I received below e-mail from them.
(Below document is a part of their e-mail which was sent to me)
>>One last thing that we would like to inform you of is that due to the numerous emails receiving and technical updates made we are having trouble to reply to all of you in timely manner. Please have patience with our support service for the next week, as we might delay in answering your emails. However all of your request will be processed accordingly as soon as possible.<<

I suspect that they have started to prepare escape.
Very suspicious.
Just terrible, gambling instead of trading.

I quit my account after 4 weeks with a loss of about 50%. They let positions run without any stoploss for some hundred pips loss. The statement here says they had a drawdown of 19% only, in my account it was more than twice as much. Never invest your money into this managed account, these are no professional traders.
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