I wonder if there is anymore active trading in the last few months (ie June + July 2007).
He is probably justing waiting until the huge losses turning into profit.
Unbelievable: from US$ 100,000 up to US$ 1,4 Mio and then down to ~ US$ 400,000 again.
Completely crazy trading style!
The biggest problem here is possibly a C2 problem. This site is doing a better than ever job of showing the true colors of these systems; but, with this one, it came too late. It is too easy for a newbie to identify such systems as good without looking at the detail in these comments.
DANGEROUS TRADER
I had opened a managed account with HAWK-FX (before most of the other warning reviews) and lost 10K in about 3 months.
Mark burdge had a few winning trades to start with but then went long on dollar crosses despite the dollar weakening.The key reason why I lost money was due to Mark not using STOPLOSSESS and no hedging whatsoever despite what is claimed.He also didnt bother to email me when the account was down by 30%.
OPEN an MANAGED ACCOUNT AT YOUR OWN PERIL!!!!.I just wish i had closed my account when the previous reviws came in
Beware!! I had a managed account with Mark Burdge. IT's a TOTAL LOSS with in 8 weeks!! His written money management is NOT followed. HE stated that he would exit the trades at a max loss of 30% again NOT followed. His results that were listed on C2 were posted with large gains, totals false. When I emailed him to correct this posting error he did nothing. He continues to not follow what he has put in writting. He is out of control. How many others of us are out their? Please contact me or post your situation here on CE I'd like to talk to you. This seams to be a pattern of system trader here. C2 results suck you into a managed account and then the system traded by "manager of the sight on C2" sucks your account dry.Do Not trust managed account! Do not trust Mark Burdge!
The most important lesson to be learnt from this system is the importance of money management, you can be so wrong on the trade timings and directions but with a conservative MM approach you can go from 100k to 1.5M in 16 months, even a disasterous trade keeps you at 700K Net, which bank would give such returns, The people who got in since October have been very hard hit, but otherwise, the system is all about a good lesson in MM.
A reckless and undiscipline trader who seem to show a serious lack of any technical analysis knowledge in addition to a comlete disregard for any good money management practices. More like a gambler than a trader in my opinion. A disaster waiting to happen.
Wow you are right the entire list disapears instead of listing big losses. Very sad that only positives can be shown. No hedging has ever been done. Stops must be used with any responsible system.
For about 15 months, the vendor reported monthly gains in pips. In January 2007 a big loser (421 pips) occurred, but was not included in this list. After I pointed out that this was quite strange, the entire list suddenly disappeared.
I trialled Hawk FX in November 2006 and carried out my own back testing. Contrary to the assertion of Mr Budge, he does not hedge and neither does he use stop losses. A very dangerous situation as many people have found out to their cost. It really is a shame that subscriber have had to suffer for the 'ego trip' that is a high success ratio. But, if it seems too good to be true, then it probably is! Take care.
Beware , I opened direct managed account with Mark for USD 10,000 ( not through collective 2 )and he has blown up the full account and present balance is only 1000 USD.I asked him to trade same as colective 2 but he was unable to do so.
Beware! Beware! Beware!
During October 2006 I open a Managed Account, managed by Mark Burdge, with $ 30,000. today, the balance of the account is $1,200, 96% loss. He does not answer my emails and does not return my calls. Do not trust him!
Huge drawdowns, no money management, no stop losses, very poor sharpe ratio -> hawk-fx is a very high risk system.
At Dec/29/2006 system had a 1.450 pip (!!!) combined drawdown to show a good Win %... All wrong trades are kept open by the vendor hoping they will recover. A very simple-minded strategy from my point if view.
Stay away if you do not want to lose your entire account.
The most important thing to remember about this person is that the only thing that matters to him is to maintain the appearance of a near perfect record of closed trades. He has destroyed many subscribers accounts in the process which is what does not show on the graph. His drawdowns and mishandling of carry trades is appalling and displays a callous disregard for his clients accounts. He enters almost all trades from the wrong side and then just sits there waiting for them to come back. Do not be foolish enough to believe that he knows what he is doing.
I also started a Managed Account around October 1st with $27K and it is now worth $1,700!! I highly encourage that traders beware. I read something once that any system that has high % win rate is prone to inevitable disaster b/c you can only achieve that by holding losing positions - eventually, as has been the case over the past month, those positions won't always come back. Also, note that the Managed Account is quite different than C2 performance - he doesn't seem to use the same trades, as he admits.
In any event, I'm quite crushed emotionally - 90% drawdown takes years to recover and this was a good chunk of my portfolio (another no-no - should only be 10% in this speculative worls). Good luck to everyone - or at least better luck than I had.
I want to clarify that the managed account I refer to (Dec 20, 2006), was open directly trough Hawk - but NOT THROUGH C2 - and NOT using C2's AutoTrading.
On November 1st I open a Managed Account, apparently managed by Mark Burdge, with $ 25.000, today, without open positions, the balance of the account is $3,474, 86.10 % loss.
For me, the worst is that during this period I have not received any comment from them.
For them has been a good business: $809 in transaction fees and $1.295 in interest, for me I live it to your judgment.
I will report if I receive any news from them.
Guys, i'm a subscriber as well. As of today for the open positions of HawkFX, there are more than $25k in interests alone... if each trade is 40 std lots So the system performance is not reflecting the real value. If the graph shows that accumulated pnl is around 900k, if you substract the interests from the short positions, then the real pnl is around 870k... I'm a subscriber as well, and i was trying to figure out, what seemed so wrong... If the GBPJPY position will stay opened for a month... then is another 25k Anyway I'm not trying to scare anybody, Hawk's strategy needs $100k initial deposit for std lots, and just start with 1 lot per trade at athe beggining, even he says 5 lots. He is the real thing out there, and I recommend to all those who can sustain 1,500 pips drawdowns!
Annualized return shown on C2 is wrong; slippage when auto trading; pips per month gained do not include open positions
Have been trading Hawk-fx for 3 months. Like it but encountered some issues:
1. Annualized return shown on C2 is wrong. On 26/11/2006, Hawk-fx had a Cumu return of $1,257,333 over 542 days. Annualized, it should be (1,257,333 / 100,000 + 1) ^ (365 / 542) - 1 = 479%. C2 currently shows 846%
2. Experienced substantial slippage when auto trading, leading to lower return
3. Pips per month gained, as shown under "system description", do not include open positions. For example, on August 30, 2006, the vendor reported a profit for the last month of 341 pips based on closed positions. What he does not report is an open position since August 4 that is down 500 pips.
If you want to make money in Forex for the long term, Hawk-fx is the way to go. I would suggest the managed account for stress-free appreciation of your money. I have not found a better system here on C2. Great job - keep it up!!
If you look at the August drawdowns for closed trades, wouldn't it have been more profitable to go against Hawk's trades? Yes, they did eventually close for much smaller profits.
I have been a subscriber for 2 weeks now, so far I like what I see. Hawk uses a different type of approach in trading, which is very good to say the least. One thing that whoever that subscribe to this system must understand is the fact that the Author recommends only about 5% or less exposure to each trade, if you do not over trade your account by leveraging too much, you should be fine. I have endured up to a 250 pips move against me and I have seen it coming back. The trick is to, again, not overtrade. Just use his guideline in the lots sizes and you should be fine.
Great System: Read the full review here.....I have been subscribing for 3 weeks now. There was one trade in Yen that was down 130+ pips and had no stoploss. I sent a message to Hawk and he responded very soon thereafter. He gave the price target and said it will hit that target within 2 days. It did. IF you can stand some large drawdowns, have have high leverage, this system will do you good. Just look at the high percent of win trades :)
Though the stats look impressive, I am not impressed with the way that losing trades are never closed. He leaves them open, till the market turns around. This is going to burn up some people's accounts, but one of these days the market will continue to move in an unfavourable position and will burn up his own account. He went long on GBP/USD and at one stage was $185 400 down. The price of GBP is now trending up again, but last week it very much looked like it would continue downwards. No one can predict the market several weeks in advance.
