I don't agree with the first reviewer. This is not a magic money making machine.
Actually it is a very dangerous strategy, where you can lose all of your money (and more) within a few minutes if you don't lower the C2-scaling and adapt the strategy-risk down to your own portfolio size.
Below here are some reasons why I give this strategy only 1 star.
1) Don't be fooled by the high "annual return" so far. The strategy uses an extremely high leverage... which increases the performance very quickly if everything goes the right way. But if something goes wrong you are going to lose lots of money and very quickly.
2) Most of the money that the strategy won in the last few months was due the slow loss of value of the Turkish Lira (TRY). In the last 3 months the Lira lost about 50% in value. Everything went well until the 20th of December, when the Turkish leader anounced (just anounced) that he is going to intervene and strengthen the Turkish Lira in the future. Within a few hours the Turkish Lira gained almost 50% in value, yep a currency! I would even call this a "black swan event". The problem is that the strategy did not use stop losses, despite written in the strategy description. The strategy lost more than 100K within a few hours... this wouldn't have happened if the strategy used stop losses. Also, the Turkish Lira "luckely" was only one of twelve different currency pairs in the portfolio, otherwise the losses would have been even bigger. Anyway, the turnaround of only one currency caused a huge loss of about 120K (from 303K down to 183K), which is around 40%DD (and not as 29,3%DD as marked by C2)
3) After the the strategy crashed on the 20th of December, instead of waiting until the markets have calmed down again, the strategy-trader re-entered into the Turkish Lira, with even a higher leverage, risking every followers hard earned money again. Since the 20th of December, the strategy porfolio has been jumping up and down, almost 50K daily up and down, which is just insane. This proves that the strategy developer doesn't care about your hard earned money. Also you can see the there were 29 other strategies from the same trader, most of them crashed badly in the past.
The strategy might recover the TRY-crash next year, and maybe even fast, but be warned, the trader is really reckless. Apart from the extreme leverage and the missing stop-losses, most of the time, the trades were OK. But if you really want to risk and lose your money, I would not use more than the minimal 1 microlot (by C2-scaling).
He was doing great until the account bombed. All of the sudden he started carrying unusually large sizes and kept adding on even when the trade was clearly against him. Then waited and added and hoped for a reversal. Not sure how he will come out of this but it was very very disappointing because he was in a good streak. Just did not manage risk well with no stops, and once the trade went against him his strategy was add to the position and hope for the best. At one time he had 20 NQ with over 100k in the red. Stay away. I lost 40% of my account.
Would have been a good strategy if only he wouldn't trade Turkish that trades like hell!!! TRY is a double-edged sword, it can gain a lot (BTW it uses way more margin, and the finance cost is hell) and it losses a fortune in seconds.
The numbers of returns are misleading, considering the amount of margin needed to trade (Turkish needs you to have a %33 margin at Interactive Brokers so for 500,000 traded, you need 165,000 in your account), and the finance cost (for TRY it could be 300 per night just to have it past 5 pm).
This strategy is trading aggressively but can be toleratable if only he would drop USD/TRY and USD/MXN, these 2 are very costly in terms of margin and finance, and are too volatile even for people that like aggressive trading.
Again you change position in the first minute of trading and again make the same mistake !!!
Does your artificial intelligence not understand that you do not change the direction of trading in the first minute of trading ???
When the market goes up 3.5% and you are constantly trading in the opposite direction you are actually losing 7%,
Please tell this to your artificial intelligence.
This is a NIGHTMARE.
There are MANY problems with your system:
1) C2 is NOT able to close all positions when stopping autotrade.
2) C2 is showing flat when there actually are positions open, therefore C2 gave me WRONG INFORMATION ABOUT MY POSITIONS
3) After autotrade is shut off, we CANNOT CLOSE positions with C2 or OANDA
4) After autotrade is shut off, we CANNOT SEE positions with C2 or OANDA
5) NO HELP FROM C2 AFTER 4PM EST
6) NO HELP FROM OANDA AFTER 4PM EST
This is a NIGHTMARE.
Because this product is traded around asian day time, it is not suitable for interativebrokers autotraders in some counties because c2 cannot connect to ib for 1 hour during midnight so you may miss the signal and get a bad buy/sell filling later.
Possibly a scam! I'm surprised that Collective2 would allow such a thing to take place on the C2 platform.
Look at the "NQ traded ending on 12/16 21:28 for 15881.13 with the drawdown of 96.85%".
Had several opportunities to salvage the trades during the recent downtrend but did not seem he was paying attention to his trades.
The worst Ledaer he is A lier that has no clue! he is here to take A high subscrption and nothing else!
He askes his clintes to move to manged accounts in IB! witch is agasint c-2 rules
The fatal flaw of this strategy is the lack of risk management. The trade leader tends to let losers run. It's possible this is just a tough market for this trader's system. That's possible. However, recent stats show a much more erratic trading style, with increasing loss sizes that are more frequent.
I'd also like to note that the system seems to be very oriented to counter-trend trading. I've watched entries to go short on massive bull spikes and visa versa. I'm not going to criticize the trader for that approach. I just want to note that observation for others considering the system who might not be comfortable with counter-trend systems.
I'd like to reconsider this after a few more months to see if trader has worked out some of their risk management issues and if a change in market conditions more positively impacts results. For now, I'm no longer going to trade this, cutting my subscription short after seeing the trader continue to stumble in managing losses.
This system is very easy to follow, and the track record speaks for itself. The developer is disciplined and communicates well. Unlike a lot of systems on C2, you can easily follow this one manually without having to watch the markets intraday.
