Date:Mon Dec 23 2024Tokyo:4:08Sydney:6:08New York:14:08London:19:08CET:20:08
BinaryOptions.net Forums› Signals/Robots/Autotraders etc
Signal Push's "Legendary Trader" Feedback...
lotzofbotz
Posts: 1,552 ✭✭✭✭
Posts: 1,552 ✭✭✭✭
Ryan I thought you learned your lesson allowing hyperbolic/parabolic degenerate gamblers like VorteXz from being on your signal service?! I guess not and now with you affiliate/sub affiliate with CTOption as a pure NooB money run on both of your parts... I am going to make a video that explains exactly why and how these guys work and the effect they can have on accounts who use them on % basis. Using 1-2% a trade leverage VorteXz can still blow your account and the only LEGEND you will be left with is how fast the money ran away from the clients, just like LAST TIME! Yup he is a legend ok, a LEGENDARY LOSER!
Comments
Regarding Legendary
VorteXz is simply a mentor to Legendary and have a legally binding statement agreement from Legendary that VorteXz no longer has access. When we discovered VorteXz was involved, we were put in a really hard place. In fact, we disabled the service and signups while we talked to our users and decided what to do and this was at the highest point of his performance so just disabling the service was costly but it was what we had to do. Our users, in the end, decided that they wanted the service to stick around. Some users like high frequency services as it helps them get free bonus cash from the platforms. Anyways, here are a few quotes from the clients in their skype room:
"Ryan, why not let US, the paying clients make the decision re risk and who we should trade with???"
"So that is just the game that were playing and paying you for a GREAT SERVICE, so give us as many choices as you can and we can make the decision accordingly. (nerd)"
"it's a tribute to the quality and integrity of SP that someone who was banned would want to make the effort to return, rather than just peddle their wares elsewhere. I also hope Legendary is clean. Thank you for being so protective of your customers."
"the clients are in total control. They don't have to subscribe, or if they choosr to they have all of the protective options you have built in. You get complaints about many of the traders."
We sent the following message to all subscribers:
Earlier today we discovered that a prior SignalPush provider has been involved in the Legendary Traders service. This prior provider was banned from SignalPush after continuously breaking their own rules, exhibiting destructive behavior, and receiving numerous client complaints. Over the past 6 months we have blocked 4 separate attempts of theirs to come back under a separate identity and open a new service. Those of you who have been SignalPush customers for a while may recognize the name, VorteXz.
It was brought to our attention this morning that someone had reason to believe that VorteXz was involved in the Legendary Traders service and in order to protect our customers, we launched a full-scale investigation into the matter, immediately suspending all access to send signals for their service. We uncovered many pieces of proof that shows he is in fact involved. After approaching Legendary with the situation, they admitted that they have been receiving mentoring from VorteXz and allowing them to send signals using their account.
They have signed a legally binding agreement with us stating that they will change all of their access information, not give the new information to anyone else, and will no longer allow VorteXz to send signals under their name. They also understand that they are the only one permitted to send signals for their service. Since they are receiving mentoring from VorteXz, we have adjusted their service description to add that disclaimer.
Due to the temporary pause in the service (less than 12hrs) and the fact that many customers who were affected by the VorteXz service no longer wish to have anything to do with him:
1. All users who have an active subscription will receive a free 1 day extension
2. Any user who no longer wishes to be involved with the Legendary Service due to this situation can request a full refund. This refund must be requested within 48hrs of this message by emailing support@signalpush.com.
And here are some quotes from the users in their skype after the latest "trade blast":
"Well I think you do good job. For me would be break even today if not 10 refuses" (MW issues)
"Legendary - thank you for October - looking forward to November"
"Legendary and SP - if I may add my two cents; I use .5% and 1%, so my account is protected, and I don't need to worry about balance stop - nevertheless, I agree that due to the vagaries of MW and the errors/latencies in the software, I strongly support a style with lower volume, better score."
From Legendary:
"Now that the dust has settled for the day, I've proven without a doubt that high frequency trading does not work for me"
"I am going to go back to the lower number of signals and try to earn back my target ITM% over probably the next few months"
"I am going to draft an email or note of some kind to send to everyone with more details. I really want to earn your trust back and I realize that today didn't look trustworthy"
Now, that all said, if Legendary does not stick to their word and this happens again, they are out, no questions asked. Regardless of if we have users begging us to keep them around. I can promise you that!
While we provide users protective features like "balance stops" and the ability to turn the copier off, we are investigating some safe ways to limit providers themselves. For instance, a provider has to been approved for a certain trade frequency, anything else will be rejected. We will have more info on that in the future. We are also working on additional stats on providers, like max drawdown.
Now, a final word... PLEASE PLEASE PLEASE... ANYONE who is considering subscribing to ANY signal provider. Look at their performance COMPLETELY and analyze it. Don't just look at a service and subscribe because they have a high ITM %. While we can't recommend any particular money management, one safe concept is to find the providers worst drawdown / losing streak, double it, and figure out what your trade size has to be in order to sustain that drawdown. If it's too risky for your taste, DON'T SUBSCRIBE.
Regarding CTOption
Absolutely not just a "NooB" money run. You, of all people, are VERY aware of the issues lately with the crowd favorites (MW/STP). In an effort to find a platform that not only payed out but that was technically sound, we polled our users and the relationship with Panda (software behind CT) was born. We do not have a relationship directly with CT but with Panda and they are the go-between for any issues. They have promised us that our customers will be taken care of and so far they have been. They are they fastest I've seen any platform respond to issues, the trades on their platform execute faster than any other and with less slippage, and to date there have not been any errors like we see constantly on MW/STP/Spot. If CT was to mess around with any users, they will have both SP and Panda breathing down their necks.
We don't have any sub affiliates for Panda brands and we NEVER put anyones affiliate links on our site other than ours. The commission goes to us and we give the clients up to $200 worth of free signals (their choice of provider). The providers get NOTHING from an affiliate signup unless of course the user decides to get free signals from them and then in that case they get whatever they would of normally had the customer paid. Our clients are VERY aware that we get paid as an affiliate when they use our links, in fact, users specifically ask us for help to make sure they are under our link so that they get credit and get free signals.
It's strict in our provider agreements that the providers cannot profit from client losses or trading volume. So no, Legendary is not profiting in the slightest from it. You want my opinion why they do the volume? It's our stupid leaderboard! We've seen it way to much where a provider uses martingale incorrectly just in order to get to the top of the leaderboard. This is why we're building a new leaderboard not based on raw % and HIGHLY suggest that ALL prospective customers analyze the providers performance to see how/if they use martingale, how they use it, and the volume they trade.
RE: Rejects
Yes, clients get rejects occasionally. Some more than others. On Marketsworld, a lot of it has to do with having a properly configured VPS since each request has an attached timestamp to it. If the timestamp is too far off, it rejects. On StockPair, you need to get the request to STP as quick as possible as we've started to notice SOME accounts get limited as to how much slippage they will allow before they reject. In the end, the clients performance and the providers performance is pretty darn close since the random rejects will be both winners and losers. Had one client miss all of the crazy legendary losers and got all of the winners. Lucky them!
http://www.binaryoptions.net/degenerate-gamblers-vs-professional-grinders/
https://www.signalpush.com/performance/legendarytraders/index.php?mode=martingale
Even their Panda service didn't go 1-19 and had a better week than the MW service.
https://www.signalpush.com/performance/legendarytraderspanda/index.php?mode=martingale
They have Panda geared to be a more conservative (less chasing) service vs the MW service which is more aggressive.
If you are a Legendary subscriber, I urge you to be a part of their Skype chat.
AUD/USD 2015-01-15 14:14
0.82344 2015-01-15 14:20:00
0.82221 lost ✓
EUR/USD 2015-01-15 14:14
1.16723 2015-01-15 14:20:00
1.16516 lost
AUD/USD 2015-01-15 14:09
0.82356 2015-01-15 14:15:00
0.82350 lost
EUR/USD 2015-01-15 12:39
1.17202 2015-01-15 12:45:00
1.17125 won
AUD/USD 2015-01-15 12:39
0.82484 2015-01-15 12:45:00
0.82566 lost ✓
AUD/USD 2015-01-15 12:34
0.82446 2015-01-15 12:40:00
0.82557 lost
GOLD 2015-01-15 11:07
1249.8 2015-01-15 11:15:00
1252.7 lost ✓
GOLD 2015-01-15 11:04
1250.6 2015-01-15 11:10:00
1251.7 lost ✓
GOLD 2015-01-15 10:54
1246.2 2015-01-15 11:00:00
1250.0 lost ✓
GOLD 2015-01-15 10:53
1246.8 2015-01-15 11:00:00
1250.0 lost ✓
GOLD 2015-01-15 10:49
1245.1 2015-01-15 10:55:00
1245.7 lost ✓
GOLD 2015-01-15 10:44
1241.2 2015-01-15 10:50:00
1245.2 lost
EUR/USD 2015-01-15 09:34
1.16803 2015-01-15 09:40:00
1.16603 lost
Voila. 1-19 at a certain point. At that point, with a little under 3% per trade (decent money management), I was almost 50% down.
1) Ok, to me that's 1-12. If you really want to count that martingales like that, then sure, it was 1-19.
2) 3% isn't good MM (would be 6% martingale) for most. It's almost double what the provider uses. You can also see their losing streaks in the past performance and could see a streak for instance that was 3-50 and could of wiped your account based on 3%/6%.
Always, always, always, look fully through the performance of a provider and figure out your MM needed to be able to withstand their worst streak. If it's happened once, it could always happen again.