Hi, i heard on one of the talkgold forums some client trading on the forex system selector at FXCM took $1.65M from the market on pipsniper GBPJPy and inside breakout GBPJPY last week. the guy was trading 20 full lots ($2M) and the 2 systems made 10000pips in one week. good story i thought. http://fxcm.fx-performance.com/Default.aspx?p=1&t=6&paging=0:0:0&sorting=2:1 nice work if you can get it!!
Saw this on here and I did not believe it. I contacted a friend who works in FXCM and he tells me its true.
Hmmm..... Well which one was it, 20 full lots of GBP/JPY (nearly $3 million) or was it 2 million dollars worth (~13.5 lots)? And how did 10,000 pips add up to $1.65 million? Last week you say? 10,000 pips on a pair which ranged ~600 pips the whole week would be some amazing feat! On the balance of probability I would have to say it's pure fiction, you'll probably find he's trying to sell this '$1.65 million in a week' system for $199.99 or something, in fact I wouldn't be at all surprised to hear he's punting it around trading forums right now!
That post was from Nov '08. Cable was really moving that time last year. Strictly speaking those numbers don't add up but maybe there is some rounding of the numbers.
Are you serious or just teasing? Given the speed of your reply, I would guess the latter. Some time ago I tried the FSS (at FXDD before it was even on FXCM). I lost money slowly on it. However, looking back I had a lot of systems for diversification. A better approach might be to concentrate your forces on one or two systems which have a hot hand and try and ride them as long as their performance looks good.
Good point, I didn't look at the date! Wow, 4,000 pip drop in GBP/JPY and then a 2,500 pips retrace, sheeesh! Still a bit unbelievable though....
And you'd be right! puretruth is ET's resident multi-alias clown troll, you can take what he says with not even a pinch of salt, a grain would do