Puntersmate Trading Investment

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kenbo
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Re: Puntersmate Trading Investment

Post by kenbo » Tue Mar 05, 2019 6:57 pm

*, *, *, :lol

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Col
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Re: Puntersmate Trading Investment

Post by Col » Tue Mar 05, 2019 10:13 pm

Well a bit of a cock up today as explained above.
Although the traders once again made a profit on the day, because I am running a live market it is showing a loss, and it's only fair that I show those results.
Trader profits 7.35 - Col's cock up - 31.22

Results

M - 04/03/2019 - Closed Trade P/L: + 2.33
T - 05/03/2019 - Closed Trade P/L: - 23.87

Running total for March - 19.15

Results with all fees paid
February - + 143.53


Trading Account Live

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harry_rag
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Re: Puntersmate Trading Investment

Post by harry_rag » Tue Mar 05, 2019 10:58 pm

So will that present you with any problems at month end, when it comes to paying the 20% fee, or is it easy enough to track the return from their trades as distinct from anything like this that you've done?

Also, am I right in thinking you pay the fee directly (the 20% plus £15) i.e. it's not deducted from your investment amount?

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Col
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Re: Puntersmate Trading Investment

Post by Col » Tue Mar 05, 2019 11:18 pm

Yeah it's seperate altogether harry
That was a trade that I processed, nothing to do with the linked traders.
But as it is showing on myfxbook, I thought it only right that I record it as a loss, because anyone looking at the graph doesn't know the circumstances.

So I have lost £31 of my profits

I also pay the the 20% plus £15 seperately from the money that's in the account.

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Fruitster
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Re: Puntersmate Trading Investment

Post by Fruitster » Wed Mar 06, 2019 8:28 am

Can I check something Col?

As I see it, your relationship is actually with myfxbook.com, could you confirm that for me?

myfxbook.com use International Capital Markets Pty Ltd as the trading platform. My research on myfxbook.com reports that they are Brokers and use automated systems for trading. What the reports are saying is that this is much like many others around the world, presently using automated software to trade the fund being held. Some of these Brokers are dire indeed (I don't include your present relationship in this Col) and some are purely scams, which sadly is why this industry has such a poor reputation right now.

The numbers being shown by many of these automated trading Brokers are correct. It is not beyond the realms of belief that the profits are exactly that due to the volatility of the Forex markets right now. I know from premiums and profits in my own organisation that the same USD amount can fluctuate wildly during a month so I spend a lot of time hedging and doing secondary and tertiary trades to ensure the bumps are smoothed out, whilst also making a few while I'm at it if I can. Even a $500k sum can lose or make £1,000 if the rate of exchange moves just 33 points (a third of a cent), with the major currencies like the USD moving as much as 400 points in a month there is plenty of opportunity.
The only time losing is more fun than winning is when you’re fighting temptation

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Col
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Re: Puntersmate Trading Investment

Post by Col » Wed Mar 06, 2019 9:23 am

Morning mate. :)

I don't have any relationship with myfxbook at all.
All my account at myfxbook is doing is monitoring the trades on my account so I can share them with anyone who is interested.

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Col
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Re: Puntersmate Trading Investment

Post by Col » Wed Mar 06, 2019 10:36 am

So just to clarify again for anyone just reading this now.

The guys who are doing the trading are in the process of developing their website, that's why I have to talk anyone interested through the process.

The steps to getting involved are
1 You have to open an account with IC Markets that is where your funds are held
2 You then register with the traders
3 Your IC Markets account is linked to the traders account to allow your account to mirror their trades.

I will take anyone interested through the whole process.

The link I have up for Myfxbook is only displaying my trades, There is no trading at all done with Myfxbook

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Col
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Re: Puntersmate Trading Investment

Post by Col » Wed Mar 06, 2019 10:08 pm

Results

M - 04/03/2019 - Closed Trade P/L: + 2.33
T - 05/03/2019 - Closed Trade P/L: - 23.87
W - 06/03/2019 - Closed Trade P/L: + 6.02

Running total for March - 13.13

Results with all fees paid
February - + 143.53


Trading Account Live

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Col
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Re: Puntersmate Trading Investment

Post by Col » Thu Mar 07, 2019 8:33 pm

Results

M - 04/03/2019 - Closed Trade P/L: + 2.33
T - 05/03/2019 - Closed Trade P/L: - 23.87
W - 06/03/2019 - Closed Trade P/L: + 6.02
T - 07/03/2019 - Closed Trade P/L: + 9.68

Running total for March - 3.45

Results with all fees paid
February - + 143.53

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Col
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Re: Puntersmate Trading Investment

Post by Col » Thu Mar 07, 2019 8:42 pm

No Trading Friday
Non Farm Payroll day in the US

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harry_rag
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Re: Puntersmate Trading Investment

Post by harry_rag » Thu Mar 07, 2019 8:47 pm

Too much information Col! :)

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Col
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Re: Puntersmate Trading Investment

Post by Col » Thu Mar 07, 2019 8:54 pm

:lol Yeah I know mate, I just didn't want someone saying, why not?

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Col
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Re: Puntersmate Trading Investment

Post by Col » Thu Mar 07, 2019 9:14 pm

Some more information regarding the traders will be posted over the next couple of days. :thumbs

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charliepie
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Re: Puntersmate Trading Investment

Post by charliepie » Fri Mar 08, 2019 12:24 am

All good info here, I can see myself getting involved properly at some point col :thumbs

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charliepie
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Re: Puntersmate Trading Investment

Post by charliepie » Mon Mar 11, 2019 5:07 am

I can see their website is up now but if I go through do you get any benefit from it? It seems fairly straight forward though I'm sure there may be a few things I'm not sure about ;-)

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Col
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Re: Puntersmate Trading Investment

Post by Col » Mon Mar 11, 2019 8:05 am

Morning charlie
Anyone I invite over, I get a small commission on any of the profits they make. So obviously I would prefer people to come through Puntersmate.

I didn't have any problems signing up, but I do have experience on where any problems might occurr, and I have all the information at hand to talk anyone through all the steps to get connected.

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Col
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Re: Puntersmate Trading Investment

Post by Col » Mon Mar 11, 2019 11:00 am

Col wrote:
Mon Mar 11, 2019 8:05 am
Morning charlie
Anyone I invite over, I get a small commission on any of the profits they make. So obviously I would prefer people to come through Puntersmate.

I didn't have any problems signing up, but I do have experience on where any problems might occurr, and I have all the information at hand to talk anyone through all the steps to get connected.
Just to explain that a bit better.
At the end of each month they charge you 20% commission, I get a small part of that from the company.

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harry_rag
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Re: Puntersmate Trading Investment

Post by harry_rag » Mon Mar 11, 2019 2:37 pm

Hi Col, I get the 20% of profit per month and, as you've said, you only pay that if you've made a profit and the account finishes at a "high watermark". I assume the £15 per month fixed fee applies regardless of whether it's a profitable month or not?

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Col
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Re: Puntersmate Trading Investment

Post by Col » Mon Mar 11, 2019 2:48 pm

I don't have an answer to that harry, as I've never had a losing month yet
But I think it's at their discretion.

When we stopped trading in mid december which I explained earlier in the thread, they waived the £15 server charge for January.

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harry_rag
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Re: Puntersmate Trading Investment

Post by harry_rag » Mon Mar 11, 2019 2:57 pm

Col wrote:
Mon Mar 11, 2019 2:48 pm
I don't have an answer to that harry, as I've never had a losing month yet
But I think it's at their discretion.
:lol That's a fair retort Col, it reminded me of the old joke about the man whose dog barks every time City lose. When asked what it does when they win he say's "I don't know, I've only had it 2 years". Obviously more likely to be applied to a different team now.

Just being doing some maths on how the charge relates to the size of the investment, will share it shortly (might be helpful to anyone who decides to invest but isn't sure how much to start off with). Don't worry, it's coming from an "agnostic" point of view, I'm not re-hashing any of my earlier merchat of doom patter! ;-)

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harry_rag
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Re: Puntersmate Trading Investment

Post by harry_rag » Mon Mar 11, 2019 3:15 pm

Just thought I'd share this observation for anyone thinking of investing but still undecided on how much to start off with.

I believe the minimum is £1k but there's a suggestion that £2k is advisable given the current cautious approach to the trading. In terms of the 20% of profit you have to pay, that doesn't really make much difference but it does in terms of the £15 per month. Obviously, with that being a fixed amount, the less you invest the higher that will be in terms of a percentage of any profits you earn.

Clearly the returns will vary from month to month and may exceed the 4% for Feb, but let's assume a constant return of 4% per month.

In terms of Col's investment of £3.5k the total annual charge would equate to around 28% of the total profit for the year.

If you went with just a £1k investment that figure increases to a shade under 50%. For £2k it's 35%. Only fair to point out those numbers will be lower if the monthly return is better than 4%.

For me, that would make £2k the minimum worthwhile investment. I'm not saying don't go ahead with £1k if it's all you can afford or are willing to risk, just take it into account if you're undecided on the amount. I trust that makes sense! {8

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Col
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Re: Puntersmate Trading Investment

Post by Col » Mon Mar 11, 2019 9:34 pm

Results

M - 11/03/2019 - Closed Trade P/L: + 0.00

Running total for March - 3.45

Results with all fees paid
February - + 143.53


Trading Account Live

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harry_rag
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Re: Puntersmate Trading Investment

Post by harry_rag » Mon Mar 11, 2019 9:40 pm

What do you make of all those red open trades Col? Is that unusual or something you see quite often, with them greening up overnight?

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Col
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Re: Puntersmate Trading Investment

Post by Col » Mon Mar 11, 2019 9:54 pm

I really don't know what to make of them harry {8
It's all a bit over my head. They do usually trade out fine.

Lots of discussion in the groups about the trades, especially as its EURGBP and bearing Brexit in mind
but there are loads of traders in there, who are more knowledgeable than I am.

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harry_rag
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Re: Puntersmate Trading Investment

Post by harry_rag » Mon Mar 11, 2019 10:01 pm

Fingers crossed Col, hope it works out well as per your past experience. I know there have been a few open trades overnight before but wasn’t sure if that was typical.

Evidence so far suggests they know what they’re doing.

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charliepie
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Re: Puntersmate Trading Investment

Post by charliepie » Mon Mar 11, 2019 11:22 pm

some interesting figure there harry and totally agree with your summing up - all those red positions do look quite alarming but perhaps that is just showing the difference in spread between buying and selling prices(like you'd see in spreadbetting so probably not too much to be worried about as they do seem to know their business so far. Hope they're not running some variation of the martingale system for recovering losses! That could end badly one day.

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Col
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Re: Puntersmate Trading Investment

Post by Col » Tue Mar 12, 2019 10:24 am

The decision was taken to pull the plug on those EURGBP trades and everyone took a hit at different levels.
Lots of discussion about why the trades were opened in the first place.

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harry_rag
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Re: Puntersmate Trading Investment

Post by harry_rag » Tue Mar 12, 2019 11:52 am

Be interesting to see if there’s an explanation for it, maybe as simple as there was an opportunity but it just didn’t work out, “shit happens” etc.

Sorry you’ve taken that hit, presumably it’s not the fact that there’s been a loss that concerns you so much as the specific nature of it.

kenbo
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Re: Puntersmate Trading Investment

Post by kenbo » Tue Mar 12, 2019 12:47 pm

Could the server fee, and the percentage of profits you pay be deducted from your initial investment, instead of being paid separately each month? If it did go belly up after several years then you’d be far more out of pocket than what your initial investment was.

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Col
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Re: Puntersmate Trading Investment

Post by Col » Tue Mar 12, 2019 1:44 pm

General consensus is that the loss could have been worse, the biggest worry is that we were trading the EURGBP at all yesterday, when the whole idea was to reduce risk while anything important was happening regarding Brexit. Even the explanation spells that out.

Regarding the recent EURGBP trade, the decision to close the trade as close to TP as possible was made so that the system could be turned off before Brexit News later today.
Unfortunately, due to volatility there has been slippage, which we as a company are unable to control. Meaning some accounts will have suffered a small loss.


Someone has just pointed out it's the first daily loss since November.

Obviously there will be no commission fees at the end of the month if we are still in a loss situation, but seemingly the losses we incur this month, are carried into the next month, and is reduced from your profits, for commission purposes.

We move on.

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