I have stumbled across an investment firm that calls themselves Sovereign Trader AI. They offer 10% a month on your investment and they generate money using MT5 and EA’s. Being skeptical I asked if I could see 1 months worth of trading data and they sent me the below link which does seem to show every trade (in the month of July 2023) But not being experienced I don’t know how to read it or know how to tell whether it’s genuine.
If someone here who is experienced at looking at trading data could please look at this and let me know if it looks like genuine trading data that has made a profit that would be great. Thank you Greg
Hello @GregMitch68 I hope doing well.
Try to avoid these kinds of things, most are scams, and even if it was profitable you wouldn’t have the money to afford it.
Think logically, if you had an AI that makes millions or whatever, how much you would sell it(I don’t think you would sell it) to me? Or how much money would you require to give you for management?
The companies that have real AI’s and make significant amounts of money usually are Hedge Funds and if you want to join them you need around 250k.
Keep in mind this kind of money when we talk about AI’s that will make you rich, anything else mostly trades Wyckoff which you can find it in YouTube videos and trade the strategy exactly like the algo.
Be safe
Hi @arveN , thanks for your reply. I actually contacted them today and they admitted that AI is not
being used just EA’s. So you were right in that no artificial intelligence is being used just complex EA algorithms. They accept payments as small as $1500 upwards. Some of my friends have already sent them substantial amounts of money which is why if possible It would be great to know if the trading data looks legit. I had a look at Wyckoff on Youtube very interesting indeed and I’ll look further into it.Cheers
I’m sorry brother but I’m not going to open a random file on my PC even if you assure me that is safe.
For me is not safe.
Also, I don’t have any proposal regarding investing some money in this AI. What I can propose to you is to learn how to trade and trade by investing your money in the proper way.
Hi Ayo,
So you did managed to open the file ? Would you mind please telling me what it is about the trading data that did not look logical ? What was the stand out making it look like fake data ? Could I see a screenshot of what logical data should look like. Best regards Greg
Hi @arveN , Ayo opened the file without incident so please feel free to take a look.
Soverign trader are going through OX securities which is why initially I didn’t think it was a scam.
But I’m a cautious person my nature. They sent me the trading data for the month of July.
Yes I would like to learn how to trade as well and I see this platform as a great resource especially with regards to learning how to trade with EA’s.
Best regards Greg
Actually, if his strategies were so great and could make so much money, why would he still need to charge money for his services? If I were him, I would just let the money grow slowly over time.
Can you post it there, when clicking it navigates to home page of Gmail. Anyway I would rather ask if their trading account is connected to the service which monitors performance or ask for investor password and check their trades in the terminal. It’s easy to compile fake reports, screenshots of trading platform, etc.
I’m not sure what profile you looked at but in the two I saw one had a 70% gain since July 30th and the other 151% since August 31st. That’s a pretty good return with how the market has been in the past few months.
I am going to try them out and will be joining up with them at the end of this week. I’ll keep everyone posted on what happens and the results after the first month.
@GregMitch68 - did you end up joining? They state that Ox trading take a 60% performance fee which leave a net return for investor of 10% average over a 12 month period in their medium risk strategy plan… that’s based on FX assets they trade in…
