BinaryOptions.net Forums Signals/Robots/Autotraders etc

Signal Push's "Legendary Trader" Feedback...

lotzofbotzlotzofbotz 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!
Screen shot 2014-11-01 at 7.17.45 AM.png
1118 x 719 - 249K

Comments

  • SignalPushcomSignalPushcom Posts: 132
    Lotz,

    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 [email protected]


    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.
    image
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited December 2014
    Wow don't know why you did not go into politics, amazingly very detailed but of course I would no likely believe you then I would "Norbert the German Banker" but thanks for the attempt to convey your point of view. If it smells like a duck looks like a duck, quacks like a duck holds a sign up saying "I AM A DUCK!" and gets a DNA test proving its a duck... Well then somebody is going to get DUCKED! Come on lets tell the story from the point of view of a marketer "CTO signups FREE month" = Affiliate commission for you master aff and sub aff for Legendary Trader period and you don't care if its VorteXz as long as you get paid and his 20-40 trades on 1 expiry time great! Will attract the RETARDS like flies to those ZAPPING lights with that 78% and 430+ trades of course anybody that would have watched and noted he took only 20 trades in the whole 3 weeks of his beta in total would be like "Hmmm that is strange!?" Why would somebody trade that much maybe because they get paid instead of just a CPA based on what? VOLUME maybe.. Seems like a DUCK to me... Hey you are marketer not a trader so I understand but I still will warn NooBs away from such crap though I do like the rest of the providers underneath too bad you just confirmed what I thought would be the case such as MarketsWorld/Stockpair blocking trades through Signal Push and I would really be very curios to see the REAL results clients get instead of the low 60% projections I would bet it likely more in the low 60 or even near breakeven on average at this point... In the future after CTO has all the signups then you will see "CTO customer support - Opps problem Opps sorry Opps can't pay you, Opps trades not executed but thanks for being a customer here is a FREE MUG!"
  • SignalPushcomSignalPushcom Posts: 132
    edited November 2014
    RE: CT
    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!
    image
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited November 2014
    I see you have NEO onboard he is a very good trader. I would look for him to take the LEAD there in the future btw... You might dislike the jabs in the videos Ryan but at the same time I promote SP to be fair, the good traders like Neo Dolphin and RA. Think of adding a drawdown calculator based on % of leverage a client can visualize historical drawdown of providers which if you had the mybinarybook up by now would make it easy for you and very useful for NooBs to project different scenarios based on the leverage they use... Nothing wrong with high roller/risk strategies if the client understands the risks ahead of time. In the second video I show a such a system combined with money & risk management calculated ahead time with positive expectancy and a pre-defined risk. The noobs that bet all their funds on one provider because they the see the $$$ and later will be SCREAMING at you for not protecting them, well I can't wait to see how this turns out! *Starts to make popcorn for this movie....
  • SignalPushcomSignalPushcom Posts: 132

    I see you have NEO onboard he is a very good trader. I would look for him to take the LEAD there in the future btw... You might dislike the jabs in the videos Ryan but at the same time I promote SP to be fair, the good traders like Neo Dolphin and RA. Think of adding a drawdown calculator based on % of leverage a client can visualize historical drawdown of providers which if you had the mybinarybook up by now would make it easy for you and very useful for NooBs to project different scenarios based on the leverage they use... Nothing wrong with high roller/risk strategies if the client understands the risks ahead of time. In the second video I show a such a system combined with money & risk management calculated ahead time with positive expectancy and a pre-defined risk. The noobs that bet all their funds on one provider because they the see the $$$ and later will be SCREAMING at you for not protecting them, well I can't wait to see how this turns out! *Starts to make popcorn for this movie....

    Yes, we have several solid traders. Unfortunately because of how some providers improperly use martingales, their performance trumps the others on the leaderboard. This is one of the reasons we are adding additional analytical tools, such as drawdown calculators and return calculators (based on prior performance of course). Dolphin has the added benefit of being a completely automated EA, so their emotions do not come into play, which is the problem many providers face.
    image
  • SignalPushcomSignalPushcom Posts: 132
    edited November 2014
    One final note... I want to once again reiterate to clients that they should use REALISTIC money management that fits their own risk profile. It's absolutely insane to see clients using 15%+ per trade with ANY provider, especially Legendary. Especially without using a balance stop. If those clients had bothered to look at the performance before signing up, they would of seen they would of been wiped several times. I don't know of any system that can safely support that level of MM.
    image
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited November 2014
    Agreed even at 1-2% leverage its very HIGH RISK but noobs are stupid and clients like that won't be clients for long but they will be sending you angry emails in the future I bet... Anyway its ok to use a high risk strat as long as you take into account the high likelyhood of instead of making alot you blow the lot. All noted below in that article...

    http://www.binaryoptions.net/degenerate-gamblers-vs-professional-grinders/
  • SignalPushcomSignalPushcom Posts: 132
    I agree. Which is why if we see that activity from Legendary again, he is banned just like VorteXz.
    image
  • mmccoymmccoy Posts: 1
    I am considering using Legendary but I'm skeptical about them with the high percentages of Martingales they've used in the past few months. I started with DolphinOptions on the Marketsworld platform in August and stopped using them about a month ago. Their ITM % fell below 60% from September and it was slowly draining my account. Any recommendations on a good provider on Signalpush. I love Signalpush and would love to return.
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    They have improved a good deal in their discipline so that is a + of course during difficult trading times lets see if they can hold it together. I have to say they have been doing a good job the past few months.
  • Alfa1234Alfa1234 Posts: 6
    I believe last thursday, Legendary had a 1-19 at a certain point and almost managed to draw my account down 50%. Maybe signalpush should try and implement some kind of trade restriction after 5 losses or something in a day to force a little money management/emotion control on their providers. Just a sugggestion? I cancelled my subscription with Legendary after that.
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited January 2015
    That is where the separation point of a great trader is from a good trader is. The ability to control their losses as winning takes care of itself... VorteXz or who ever this is still has to learn self control it seems. Remember they could be using a demo account and trading only for effect to market their ITM%. This means they will try to out trade a bad streak which might end you even if you are using low leverage. That is the risk you take when you let others trade on your behalf, you shall get their results. Just hope they don't have a psychotic breakdown with your money!
  • SignalPushcomSignalPushcom Posts: 132
    edited January 2015
    Alfa1234 said:

    I believe last thursday, Legendary had a 1-19 at a certain point and almost managed to draw my account down 50%. Maybe signalpush should try and implement some kind of trade restriction after 5 losses or something in a day to force a little money management/emotion control on their providers. Just a sugggestion? I cancelled my subscription with Legendary after that.

    Not true at all. While they did have a bad week, they did not go 1-19 and if you use good MM there is no way you were at a 50% drawdown.
    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.

    image
  • Alfa1234Alfa1234 Posts: 6
    I said "at a certain point". The "V" is with martingale.

    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.
  • SignalPushcomSignalPushcom Posts: 132
    Comments:

    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.
    image
Sign In or Register to comment.

Who's Online in this Category0