conglo Posted December 15, 2010 Report Share Posted December 15, 2010 (edited) "The church is near but the road is all ice; the tavern is far but I'll walk very carefully" - Russian proverb Edited December 15, 2010 by conglo kltan 1 Quote Link to comment Share on other sites More sharing options...
hyperdimension Posted December 15, 2010 Report Share Posted December 15, 2010 so deposit is 500, as seen at the start of the graph. yet we end up at minus 1200. how does that happen? I'm wondering why the MyFXBook page (http://myfxbook.com/members/rayong1/leo-trader-pro/69928) doesn't show such large equity swings. Quote Link to comment Share on other sites More sharing options...
siitari Posted December 15, 2010 Report Share Posted December 15, 2010 http://www.myfxbook.com/members/rayong1/leo-trader-pro/69928 is trading 1-cent-a-pip account Bumb this. It's a micro account that they are testing, not publicly available yet. So any calculations($1200 was actually $120) shown here are wrong so far and the account wasn't even close to be blown out. From that above link: Our company representative will be with you in a moment. Meanwhile you can submit your question. 13:49 Sampo has joined the chat. Sampo | 13:49 Hi, how may I help you Raymond Ong? Raymond Ong | 13:49 Hi, I’m verifying some account info. What sort of account has mam at the end of the currency pair symbol, eg. EURUSDmam? Hello Sampo Sampo | 13:51 MAM and micro lot accounts use mam postfix (micro accounts are not yet publicly available). Raymond Ong | 13:52 I have login read only access to some live accounts and I see the mam at the end of the symbols These are from EA vendors. Sampo | 13:53 If you are preferring to Leo Trader’s account, it’s currency rates and lot sizes are equal to normal ECN account. They just have that kind of symbols because they have also been testing our micro lot account. Raymond Ong | 13:53 I also see that they are ECN accounts because they have commission on the trades. I thought the smallest amout to fund an ECN account was 2500 USD or 2000 EUR Yes refering to Leo trader account and Pip Laser account from Megadroid guys. Raymond Ong | 13:54 So they are testing ECN in micro lot accounts? How? Sampo | 13:57 That account type is something we are considering and they have been testing how it works. Raymond Ong | 13:58 I see. So to clarify it is an Micro ECN account. Sampo | 13:58 The results they have done could have been complished with normal ECN account as well. They did not use micro lots in their trades as far as I know. Yes. But do notice the aboce sentense. Raymond Ong | 13:59 ok alright thanks very much. Sampo | 14:00 You are welcome. Quote Link to comment Share on other sites More sharing options...
knightyonder Posted December 15, 2010 Report Share Posted December 15, 2010 hi guys i suggest not to waste time on this ea. almost all eas are the same, large stop loss, small TP. that's why they have high win rate, but it only takes 1 losing trade to wipe out all your previous 10- 20 winnings. common sense, period! instead of looking for an easy way to trading, one should learns to trade. if you trade manually, you'll never let the loss grow too big or let your full stoploss to be hit. if your analysis and entry are right, the trade'll almost go your way immediately, not to wait until the 330 pips stoploss to be hit to prove you've already been wrong. trading this way is doomed to failure. Quote Link to comment Share on other sites More sharing options...
hyperdimension Posted December 15, 2010 Report Share Posted December 15, 2010 Bumb this. It's a micro account that they are testing, not publicly available yet. So any calculations($1200 was actually $120) shown here are wrong so far and the account wasn't even close to be blown out. Maybe the MTI analysis is wrong somewhere, and the MyFxBook page is showing the correct equity history. That chat transcript with Raymond Ong does show that the EA vendor and broker are working and probably profiting together. Whether it's a scam is not yet clear. That MTI analysis chart needs further investigation. I'm not sure how possible it is to allow an account to continue taking trades while equity is negative, as there is a free margin check on the server before any order is accepted and filled. Quote Link to comment Share on other sites More sharing options...
siitari Posted December 15, 2010 Report Share Posted December 15, 2010 I'm not sure how possible it is to allow an account to continue taking trades while equity is negative, as there is a free margin check on the server before any order is accepted and filled. It hasn't been negative at all. Why is this conversation still going on? It's NOT A STANDARD account. From EA developers site @ http://www.leotraderpro.com : IMPORTANT: This mini-account trades $10,000 contracts (rather than standard $100,000 contracts) so 1.0 lots = $1 per pip EDIT: So to achieve similar results on a standard account you have to trade microlots. Quote Link to comment Share on other sites More sharing options...
Stormin_Norman Posted December 15, 2010 Report Share Posted December 15, 2010 Maybe the MTI analysis is wrong somewhere, and the MyFxBook page is showing the correct equity history. That chat transcript with Raymond Ong does show that the EA vendor and broker are working and probably profiting together. Whether it's a scam is not yet clear. That MTI analysis chart needs further investigation. I'm not sure how possible it is to allow an account to continue taking trades while equity is negative, as there is a free margin check on the server before any order is accepted and filled. Yes MTI might be incorrect if it is using strange lot sizes. When it is shared we can suss it out. Quote "It is inconceivable that anyone will divulge a truly effective get-rich scheme for the price of a book." Victor Niederhoffer (1943–), US hedge fund manager and statistician Link to comment Share on other sites More sharing options...
hyperdimension Posted December 15, 2010 Report Share Posted December 15, 2010 Yes MTI might be incorrect if it is using strange lot sizes. When it is shared we can suss it out.MTI is probably assuming 1 lot = 100K of base currency which causes the equity swings to be 10 times larger. It's not MTI that is "using strange lot sizes", but the trading account, in which 1 lot = 10K of base currency. IBFX has such an account, often called a "mini account". Quote Link to comment Share on other sites More sharing options...
Stormin_Norman Posted December 15, 2010 Report Share Posted December 15, 2010 Yes, by it i was referring to the account, but your thought may be right. it has been promoted so heavily it will surely be shared. Quote "It is inconceivable that anyone will divulge a truly effective get-rich scheme for the price of a book." Victor Niederhoffer (1943–), US hedge fund manager and statistician Link to comment Share on other sites More sharing options...
sovereighn57 Posted December 15, 2010 Report Share Posted December 15, 2010 Has anyone tried to login to the live account? I tried and it would not give me access... Quote Link to comment Share on other sites More sharing options...
reinerh Posted December 15, 2010 Report Share Posted December 15, 2010 Has anyone tried to login to the live account? I tried and it would not give me access... maybe its in a huge dd after the move of today :) Quote Link to comment Share on other sites More sharing options...
hyperdimension Posted December 16, 2010 Report Share Posted December 16, 2010 Has anyone tried to login to the live account? I tried and it would not give me access... Login using these details in any MetaTrader terminal (there's no need to download their terminal if you have the IP address): Login: 1331 Password: LTP082010 Server: 74.119.64.106:443 It's still working fine. sovereighn57 1 Quote Link to comment Share on other sites More sharing options...
pro Posted December 16, 2010 Report Share Posted December 16, 2010 The next step on the hoax-promo-tour: http://www.leotraderprobonus.com/ Quote Link to comment Share on other sites More sharing options...
Stormin_Norman Posted December 16, 2010 Report Share Posted December 16, 2010 We're really sorry about this…but at the last minute, after looking at how huge our early bird list was…(biggest ever, in our experience) our techs informed us that Leo Trader Pro would not be able to accommodate all the trade replicators that would be running concurrently. ---------------------------- Makes that probonus sight you mentioned above at odds with the above message. I would have thought it was either a trade copier or you could change the variables, doing both would be rather difficult. Quote "It is inconceivable that anyone will divulge a truly effective get-rich scheme for the price of a book." Victor Niederhoffer (1943–), US hedge fund manager and statistician Link to comment Share on other sites More sharing options...
fxeasy5 Posted December 16, 2010 Report Share Posted December 16, 2010 I logged into the live-account and saw this: Funded by wire-transfer on Aug-1 with $500 Started trading on Aug-2. 1 loss of 1.5 Pips , all other trades are winners. Net profit: $2472.05 Just an example for a trade which hit TP shows SL = 328 Pips TP = 25 Pips My 2cents: Was this EA "lucky" to get only 1 loss during 4.5 months ? How did it manage to close that losing trade with only 1.5 Pips loss ? I don´t have the answers but what makes angry is this e-mail I got today (besides hundreds of affiliate-mails for this EA ): Hey guys, Lee Campbell here from the Forex Mutant team... I just came across this site where you can download a FREE copy of the infamous "Leo Trader Pro" super robot -- go try it out before anybody else and without riskying a penny: =>>> xxxxxxx edited Go make some serious pips with it, Lee Campbell ForexMutant.com team P.S.: I don't know how long the *FREE* leaked copies of Leo Trader Pro will be available for on their site, so I really suggest you rush there right NOW to get yours: I went to that website to download the "free" copy but there was none. I am fed up with all these lies and spam. Quote Link to comment Share on other sites More sharing options...
davidwraith Posted December 16, 2010 Report Share Posted December 16, 2010 Launch now delayed until Monday, December 20th.. Quote Link to comment Share on other sites More sharing options...
ylidor Posted December 16, 2010 Report Share Posted December 16, 2010 Yes, by it i was referring to the account, but your thought may be right. it has been promoted so heavily it will surely be shared. There might be a twist here, according to a message I have just received from Rob Casey (from FapTurbo Expert Guide Members): The REAL PROBLEM was this ... As I explained in my previous email, the reason Leo Trader Pro is able to do what it can do, AND keep doing it after you buy it is because the software is continuously being optimized each and every day. This optimization happens on their server where the brains of Leo Trader reside. Because this happens on their server their neural net algorithms are able to actually make use of a much wider range of market information in determining what direction the markets are going. Things like gold prices and other economic indicators. If this information is true, this EA would come with a dll that would interact with the author's server to get the alleged Neural Net guided signals. If indeed this would be the case, we may not be able to test properly the results on a shared version..... Quote Link to comment Share on other sites More sharing options...
San4x Posted December 16, 2010 Report Share Posted December 16, 2010 Sounds like a simple trade signal EA that receives the signals from home base. So education is probably not even possible/applicable. Quote Thanks for the kudos...much appreciated! Link to comment Share on other sites More sharing options...
Stormin_Norman Posted December 16, 2010 Report Share Posted December 16, 2010 Sounds like a simple trade signal EA that receives the signals from home base. So education is probably not even possible/applicable. Which is fair enough. The problem with that as i see it is that the longer term performance can only be seen on the provided forward tests, there's not backtests to aid in deciding if it is safe. Quote "It is inconceivable that anyone will divulge a truly effective get-rich scheme for the price of a book." Victor Niederhoffer (1943–), US hedge fund manager and statistician Link to comment Share on other sites More sharing options...
Forexpro1713006044 Posted December 17, 2010 Report Share Posted December 17, 2010 Leotrader seems to be just a trade-copier to protect the code or to avoid any backtesting. The shown results you will get most likely only, when you open an account with FinFx. (This would explain also, why this broker stepped in on their promotion) On other brokers the results may probably be different. The launch delay is just part of their marketing-plan. In this way they are able to send out another hundred spam-mails. Quote Link to comment Share on other sites More sharing options...
davidwraith Posted December 17, 2010 Report Share Posted December 17, 2010 Which is fair enough. The problem with that as i see it is that the longer term performance can only be seen on the provided forward tests, there's not backtests to aid in deciding if it is safe. It definitely is a "trade duplicator" from a central server as was mentioned several times in the video clips on their web site. As there aren't any backtests, how much forward testing would convince you, Norman, before you consider it to be safe? Quote Link to comment Share on other sites More sharing options...
piphead Posted December 17, 2010 Report Share Posted December 17, 2010 Don't you find it a bit odd that the broker is using Leo to test his new micro ecn account which isn't available to the rest of the public yet? How did that come about. Leo just phones up and say "heh, how about having a new type of account blah blah blah". More likely that the broker instigated it by finding someone he knew. Don't forget this is a new broker (about a year) which doesn't have many customers yet and would probably do anything to change that considering the current economic climate in Finland - double dip recession and all that. Quote Link to comment Share on other sites More sharing options...
pro Posted December 17, 2010 Report Share Posted December 17, 2010 this baby leads my personal FOREX HOAX & SCAM list for 2010, that's for sure. Broker and EA marketer hand in hand.... adiós account! Bienvenido bankruptcy! Quote Link to comment Share on other sites More sharing options...
polas Posted December 17, 2010 Report Share Posted December 17, 2010 Login using these details in any MetaTrader terminal (there's no need to download their terminal if you have the IP address): Login: 1331 Password: LTP082010 Server: 74.119.64.106:443 It's still working fine. well i just noticed that ip address for the broker server and ip address for leotraderpro website both leads to the same place in US,Las Vegas. Quote Link to comment Share on other sites More sharing options...
piphead Posted December 17, 2010 Report Share Posted December 17, 2010 well i just noticed that ip address for the broker server and ip address for leotraderpro website both leads to the same place in US,Las Vegas. You're right? leotraderprobonus is there too. Also, FinFx's demo server is 74.119.64.194 - same place. When creating an account there is no mention of a FinFx-live server only FixFx-Server and FinFx-Demo although as this is a test of a new type of account that could be legitimate. So leotraderpro and the finfx servers both use the same internet company in Las Vegas - DWD Technologies LLC. What are the chance of that? Quote Link to comment Share on other sites More sharing options...
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