Winners Edge Failures

Austrader2012

Private, 1st Class
Messages
90
Late 2011 Winners Edge decided to offer a copier ea for Michael Storms New York sessions. I decided to go ahead and copy him with 50% less risk than what was recommended. With -in 3 weeks of attaching my funds to this copier the account was hedged out and blew out in just 3 weeks.
My complaint is based on the fact that money management was far much more than 5% which would be a standard risk of a trading account.
Michael being a US trader discovered he could open an account outside the USA (as US clients are prohibited from trading hedged accounts). He assured his clients that he would simply have more control but the opposite was true.
For me this meant my 26K account was 50% hedged out.
 
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neo761

Recruit
Messages
3
Its sad to have to respond to complaints that have half truths and exaggerations in them, but in this day of disgruntled people that want to lash back, certainly cannot just let it go. I am not at liberty to talk of all the things that went on behind the scenes at W.E.T. but suffice it to say that Austrader2012 is NOT aware of many things that I cannot discuss. Clearly even I was not happy with W.E.T. which is why I left. But regarding what Austrader2012 says, it is NOT as he has stated. I very much regret to even HAVE to say these things. Austrader2012 is what one would call a "problem" trader. He did so many things bad and wrong. I felt so bad for him that I let him come into my new trading room for FREE and did not charge him. He stayed for about a year I think. In which times we had MANY one on one sessions where I would try hard to counsel him with very sound advice and money management things. Sometimes we would talk for an hour or more. I did all of this for free. It would not take long though before Austrader2012 would blow up his account again 100% on his own with not using stops, not doing ANYTHING that we discussed. This was a great grief to me. He refused all my counsel and advice by his ACTIONS which went 100% contrary to the trading plan we discussed so many times. He was always afraid to lose so would hold the losers a long time when its obvious the trend was very against the position and it should not have been held. Anyway. NOT everyone is cut out to be a trader and I did tell Austrader2012 this after a while. His whole family and friends were trying to encourage him to stop trading and after about a year of dealing with him, me and my partner also encouraged him to quit and to find a job. This did make him angry enough to dump me as a friend many months ago. He left, blocked me on skype and I suppose on twitter too and I never heard from him again. I do know from what he told me that he kept sucking money out of a credit card to fund a trading account and try and make it all back but ... folks I am being VERY HONEST here.... He was trading massive sized positions which is akin to revenge trading. Again I apologize greatly that in responding to this post, I have had to be somewhat revealing of my old friend and his manner, this is not what I would want, to drag personal info out into the limelight but, I DO think he is just trying to strike out probably cause he is just mad at the way his trading career went, but I assure you it is not quite as he says. Exaggerations abound in his post. As for Casey and W.E.T. I am not with them as I left around 2 years back. I have no idea what they are like now. So I cannot speak for any of that. All I can say is we have a very successful trading room now of seasoned traders far over 100+ folks and 95% of the folks are VERY happy with our services and suggestions regarding management of trades. And I wish Austrader2012 all the very best in a new career. God bless you my old friend.
 

Austrader2012

Private, 1st Class
Messages
90
Untitled.jpgIt is good that you have replied Michael. The complaint is not about the free room rather the previous loss of 1 account that was copying your trades. Talk about massive lot sizes because the whole account was hedged out in 3 weeks flat. This is no exaggeration. I will post the result of my account for everyone to see. I dont know how you can say I have bad money management after you drew this account down 50% where most traders will only risk 5% at any time. By the way Michael used hedging on this account rather than stop losses. Because of this the risk became unlimited. Lossing trades were not closed out at a predefined risk but rather he thought he could hedge his way out of the drawdown. I believe that you were negligent in the open losses that occured. As per your own quote - He was always afraid to lose so would hold the losers a long time when its obvious the trend was against the position and it should not have been held.
Casey did offer me free room admission after this happened.
I sought help from Michael, let him take over trading 2 accounts so that he could try and recover them but every time I handed him control the accounts shrank.
It was after this event that I began to really struggle.
Michael did offer for me to use his room for free but I was told not to mention this to anyone. I did not mention the draw down I had suffered to anybody as I didnt want to hurt Michaels reputation.
In regards to Michaels style of trading, I have no problem with him trading like that but it is not for me as well it may not be for others that do not have 15 million in thier accounts. Michael only trades 1000th % risk of his personal account but with the copier as I said before a 50% draw down in 3 weeks is not a professional result. I might have well have gone to a casino!
I was very hopeful during my time with Michael that he would be able to turn things around for me or help me to trade better.
I to have suffered the loss of a friend in Michael, but he was firstly my trading mentor that was offerng an education and investment service. You would note If you ever go into his room that he s a trader first and a teacher second. That means that his guidance is secondary to his trading meaning that If you get stuck or need help he may not be able to help you.
Quite oftern I did come unstuck with his trades as he is a top or bottom picker and usually the trades would rally a lot furthwer than expected. If you dont know how to WASH your trades out or hedge at the right time you would suffer dreadful losses. Stops are rarely placed with Michael,maybe 5% of the time. He does say that swing trades are where the big money is made but he is a NY scalp trader and di not call many swing trades. He is always out to get somewhere between 7 and 15 pip which eventually damages one account as the risk reward ratios are not good. He also encourgaeds adding to loosing positions and doubling the whole trade to try and wash your trade.
I would like Michael to use a service like MYFXBook to determine If he can really trade a live account. All the demos I have seen Michael take have only lasted 1 months or so. All the posts of his incredible pip counts never ever show the open drawdown. So a 3000 pip week could have a net drawdown of 5000 pip in open drawdown.

I challenge Michael to use myfxbook to demonstrate his abilities or if not i would not use his services. A trading mentor should show you live account records not demo accounts otherwise he may not be completely truthful.

Will you take up this challenge Michael and post some results on FPA to prove me wrong.
 
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Austrader2012

Private, 1st Class
Messages
90
Personally speaking I found Michaels style of trading to be very complicated to follow. He would load up with as many as 10 - 20 different pairs all at the same time which most people would consider over trading. He is not very thoughtful about newbew traders or trading safely. I did request Michael at one point to try and call out 5 trades per session for 20 pips each. 100 pips in 1 session would be a great way to grow ones account but he is going for 3000 pips at a time which would put most trades accounts at risk.
 
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Austrader2012

Private, 1st Class
Messages
90
Tony replied:
Dear Valued Winner's Edge Trading Members,

Due to poor performance the Storm Chaser Elite Signal Service will be closing soon. You have the option to switch over to our Forex Copier account or we can cancel your subscription. Please send us an email if you want to cancel. We apologize for the poor performance.
 

neo761

Recruit
Messages
3
Austrader. I'm a fairly busy person and don't have time to just sit here and keep responding to false statements, half truths and the such. I suppose I can reply one more time here, but I just don't have time for nonsense. I NEVER told you to sell your home and use the funds to trade, that is an absolute no-no and I would never in my life suggest that to someone. Again, Sorry the Storm chaser E.A. Blew up on you. There was a LOT of stuff going on behind the scenes both technical back office stuff, and much more even down to certain traders errors putting in size on their own account link ups. I am not going to get into all that. Its not true that I hate using stops. I don't like them much but I use them quite often and even advise people all the time to Count the cost. Determine the risk and put on a stop at a dollar amount or perhaps a 30 pips disaster stop. I am a trader and a teacher both and my guidance is not secondary to my trading. We help our clients up to 16 hours a day but a man has to sleep sometimes so I can't stay up past 10 pm trading with people as many have said they wish we would just go 24 hours, its not possible... YOU are the one that asked me to trade your personal account for you and that was a LONG time ago, you did not have internet or something for a few days or a week? And as a friend I did trade it for you I seem to remember the account you had at that time was around $6,500 or something? And I seem to remember having a drawdown on your account that week of about $500 or so. When you took it back over (details are spotty, its been a long time) I even seem to remember paying you $500 throw paypal at some point to recompense you. Austtrader I went above and beyond what anyone would ever do. And I am just unsure exactly why you are coming out with all this now 2 years later. Forex is a risky business and isn't suitable for a lot of people and you should know the risks and you did some wrong trading with money you cant afford to lose (rent money, credit card funds etc) and I remember you blowing up a $6,000 account and turning it into $500 VERY fast because you refused to trade small and piled into trades. Your statement about me encouraging folks to pile into losing trades is NOT TRUE. We think like market makers and you know that. When we determine something is a long and we take our $10,000 account and buy .05 or maybe .10 and the setup is not broken, but the price improves, yes we very often take a second and third position "collecting inventory" for a later release. You know full well that I tell folks to slice their position size up into a few bullets. We NEVER put our whole position size on in one shot always leaving a bit of room to add if we still like it. As for the rest of your post. I don't trade demo at all. I am not going to waste my time. I know a lot of people like myfxbook and that's fine. I never used it or looked at it and have nothing to prove to anyone. I don't let people look into my live account ever, or my bank account or my bedroom either. Just a bit to personal. Again, I have no need for myfxbook, I am not out to prove anything to you or anyone. Our current 133+ members know full well what we do every day and are very happy. 90% stay for month after month and year after year. I am sorry you did not make it as a trader Austrader. God bless you and best of luck to you in whatever new career you take in your life, but I am not going to waste my time responding to any more posts from you and I do hope I made my position clear. Now a note to anyone who is Reading this post and Austrader'ss as well, I guess its up to you to make a judgment whether I suck or whether Austrader might be exaggerating, and telling half truths and putting in some things that are NOT true. Cause I tell you it is so. Trade safely everyone. Don't be a gambler.
 

Austrader2012

Private, 1st Class
Messages
90
But you did blow up the account within 3 weeks and I think you were professionally negligant. So instead of telling everyone details of my financial position you should just address the problem of me loosing $27 thousand dollars in just under 2 months. 100% of the account gone.
 
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Austrader2012

Private, 1st Class
Messages
90
I am going through my skype chat history and may repost some of Michaels posts to me in regards to finacial advice from Michael. Iwill also point out that any breach of privacy inregards to my situation that has been shared with your live trading room, skype chat room and posted on here may be reported to the correct authority!
 
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