I assume you are asking why am I doing this? Several reasons really. I’ve seen many online signal providers fail. When I saw the first signs of potential upcoming failure I stepped up and asked here for clarification. As expected, PipShip came in with his attitude and instead of trying to actually address my concerns he just called me stupid. From that moment on he surely had it coming and trust me, I’m not one to disappoint.
No further updates at this point other than that I’ve been forwarded to the “FIOD” service in The Netherlands, they seem to take care about the potential tax evasion and the “AFM” service takes care about the rest.
ohh I see! yes you do have a point here, but also keep in mind that there are no traders that will actually bother to post in any forum. I know he might actually be looking for some benefits, however it doesnt really matter as he does actually write and he engages a lot. So for that thing, we should give him credit.
Plus he is actually a good trader, not a bad performance.
LIVE PERFORMANCE VS BACKTEST & Forecast following 8 months pipship.
Well well, trading now almost 4/5 months we think we are able to summarize the details of the first 150 trades vs the backtest of about 250 trades.
-trading with positive trade ratio of 80% at the moment.
(in backtest a positive trade ratio of 95%, we had to lower this ratio to trade more safe)
-9 pips/trade (exactly the same as in the backtest)
-we were able to trade with max DD of 235 pips!! (instead of -428 pips backtest)
-in backtest: 2 years -> 2400 pips. Live: 4/5 months -> 1626.
(Live about 400 pips/month instead of 200 pips in backtest) (double amount of entries)
Live we focused even more on risk. We eventually tried to add some further adjustments (tested) to lower the DD even more. (now we are able to trade with 50 SL, max 3 trades open)
You could say live performance is even better than the presented backtest.
We were very curious to see how our data hopefully will look like, one year of trading…
Fingers crossed
It would be legendary if it looks like this in about 8 months…
it is quite a bold projection btw! At the moment you have <1.5K (or about).
We all know that should you be good, your live spam as a SP will not be as projectile as your backtest results.
I really wish you to get that performance, but reality has taught us something else.
So right now you are just trying out things with 2million of followers capital. Lost all sense of control over the situation.
Thanks to the person who stepped up and will help me to translate things into Dutch.
You might be lucky and close your current set of trades positive, but you know as well as we do that currently you are just gambling and there is no significant proof of success of your strategy.
what do you mean by that? Why to be illegal? What could be the reason for that?
I remember he was saying that he was applying for a licence of something…
They are running a business with a couple of guys. This business is not registered anywhere, no tax reports are filed anywhere and they do not have the proper authorization to run this operation in the financial sector. All of this I have confirmed with the authorities in the Netherlands and the official complaint is being worked on as we speak. Please read my previous posts in this topic and it will all become clear to you.
In any way you look at it, this operation is going south rapidly.
There are 208 trades in their account now, mostly done in groups of 3. So what, 70 groups? That’s nothing. No significant value. Luck never lasts forever, Pipship!
Oh my!! I am so sorry to hear this! you are kidding right? I thought there are actually trying to make it operating not going illegal.
What about zulutrade? Is it going to have some effect on that?
I don’t know what will happen next. I assume that the authorities will decide over it. Maybe they just get fined and allowed to continue later on once they play by the rules (law).
Surprisingly they are very quiet in this topic. Also their attitude on their profile page went down a little. Maybe they are too busy with trying out new things with investors funds.
Small gains, big losses. I feel sorry for the followers who didn’t see this coming.
Yesterday was not a good place for quite a bunch of traders! Dont be so hard on the pipship. He is actually not a bad trader himself.Regardless what the decision will be.
This is 9 positions with no stoploss whatsoever right there. These guys are gambling with investors funds!
And then they say they know everything about trading? Former hedgefund trader? No surprise by the way, I’ve found out that one of them was/is running his own online poker room for a while.
Could you comment on what happened here please? Care to elaborate on the losses?
As for commissions they are moderated upon how many followers one has, or not?
Just ask for Menno Bakker and Marc Lobenstein. If they know “everything about trading” and “everything about programming” I’m sure they could help us out.
GhostPips, why are you so aggressive towards them??
You seem actually like spamming them…You not playing fair, mate.Don’t be stuck only on this provider, check out also the others
Well there are many reasons actually.
-They are not allowed by law of their country to run this operation (they are not registered with the financial authorities)
-They run an illegal company (it’s not registered anywhere and they don’t report/pay tax)
-They promise you goldmines where in fact they don’t stick to their own rules (they say maximum of 3 positions where they open 9, they say a stoploss of 50 pips where they use no stoploss on those 9 positions, that’s deceiving people)
-Once things go south they delete their SP account and I’m sure sooner or later they will show up again under a different name, performing this whole act all over again and luring people into it again and again.
And I could go on for a while but those are the main ones.
First their attitude was up high and now they don’t even bother to reply here anymore.
So yes I think there are reasons to go after them. Don’t you think the same?
They can delete what they want, I’ve got everything logged in a proper way. If anyone has more info or knows about more people involved in this please don’t hesitate to contact me privately.
Are you saying they need to have an registration with the financial authorities to be a signal provider on zulutrade? Can you explain a little bit more on this fact. I found it a bit extreme.
As for your other criteria that you listed, well I bring at least 5 other traders that have acted exactly like this over the years. Then you should hold grudge to them as well
