Whats the matter, the system has general very successful alerts during May-06, and suddenly its totally disabled since 24-May... anybody there?
System Creater... please respond.
There is something strange! people's reviews shows that its not a good system, but when you the records of fx-hawk you find thats the trade were perfect. So where is the true?
although the system appears to be quite robust he has made the cardinal sin like the rabbit in the headlights of a car did nothing and still cannot cut his losses.Until he does this and moves on to the next opportunity one can only assume he is a novice trader.
This vendor rubbish other vendors: Here is his posts Posted: Mark Burdge (When: 12/13/05 (13:20)
Systems: Hawk-fx
""""sarf 2 have just closed a trade of 900 mini lots.
That's $ 90,000 of margin which is about 40% of their account equity.
They also appear to have an open trade using more I strive with my system, not just to make profitable trades, but also to trade at a size that enables my subscribers to replicate the results."""
But he has drawdowns of 40% or more and brushes them off.
?
I have cancelled my subscription, mainly due to the lack of communication of strategy, and the failure to implement the hedging. Good while things are good, very bad when things go wrong.
Although there was a two week free trial, I canceled my subscription early due to a lack of e-mails or other communication from the system creator. According to the system description, there was to be hedging or other risk management on trades, but with the current pound trade down over 450 pips, and the euro down significantly as well, there was not a single e-mail sent to suggest a hedge trade. When the initial signal e-mail was sent, I disagreed with the entry price, so fortunately I'm not stuck with all that drawdown, but as far as my experience, so far it's not the best system.
I have been a subscriber for a couple of months and have to say that the recent trades bear very little resemblance to the strategy description. There seems to be no risk management or plan for what to do when things turn against you. As stated in the Dec 28th review. No hedging has taken place with a combined 540 pip DD. I would reccomend a strong stomach if you intend to subscribe.
System has no risk management. There is currently a 870 pip combined drawdown. The system creator states that losses will be limited to 150 pips through "hedging". However, no hedging has taken place. Instead, losing positions are added to in the hope that the price will come back to close the trade at a profit. If you attempt to trade this system I guarantee you will eventually lose your entire account.
I was an autotrader during the free trial. The system was doing great until the most recent trades. The trades are down huge and the money management is just not here in this system. This is a very high risk system as the trader will allow trades to go against him by a large margin.
Looks consistent, but no stops at all are being put in. Therefore I cannot consider the system as professional. Even a stop 1 % away would be better than none!