He did say he emailed the IB statements to Joe, so we can wait for that verification
It is definitely IG Markets - not IB , no corrections done to post.The post shows he has emailed his statements from IG Markets, unless he has corrected it, subsequent to your post, from IB?
It is definitely IG Markets - not IB , no corrections done to post.
I can confirm that I have received a number of broker statements from Pure Silk with his personal information removed. The statements are from IG Markets.
However, there are quite a lot of statements, and I have not yet checked them against the spreadsheets that have been posted in this thread.
Although I have not gone through and cross checked every single trade, as far as I can tell everything appears to be in order and the trades and profit/loss figures are genuine as claimed.
Having made the effort to provide Joe with evidence in support of his stated trading results, I think Pure Silk has established his credibility and is entitled to our respect regardless of whether or not we agree with his strategy.
Agreed, absolutely.
Interested to hear PS response to WayneL.
All strategies should be battle tested and back tested for the severest of market conditions, including currency risk which is not spoken about enough, if at all.
Pure Silk
Thanks for the effort to show your results. Though impossible for us to verify, I believe it has reflected your real trading... pretty much what I would have expected in the market conditions for the period.
As I have said all along, there is nothing wrong with the strategy per se. It is what it is with risks and rewards and no reason it cannot be profitable.
You are right to be concerned by a black swan event however... not even a black swan as you are very highly leveraged. Most of the trades I looked at had a face value higher than your entire account size. With several such trades open at the same time, you have massive exposure.... massive portfolio heat.
You had a losing month October in a benign market. Your biggest loss was with a relatively minor swoon against you. Imagine if several moved against you like that at the same time in just a minor market wide swoon.
This is not to bag you, it is out of concern having witnessed others experiences.
Thanks again PS it verifies much of what we have been saying.
Having made the effort to provide Joe with evidence in support of his stated trading results, I think Pure Silk has established his credibility and is entitled to our respect regardless of whether or not we agree with his strategy.
Although I have not gone through and cross checked every single trade, as far as I can tell everything appears to be in order and the trades and profit/loss figures are genuine as claimed.
As I have stated before, my long-term average (over more than 3 years) has been 2.5 % per month (30 % p.a.), not quite as good as 40.3 % p.a., but providing me with a steady cashflow and now, since I am making more profits in a month than I need for my lifestyle, I can allow the excess to compound. If I let all my profits compound every month, my capital would double in 2.4 years (2 years and 5 months). I don't know of any other investment that would double in value every 2.4 years.
So, when Pure Silk's figures are finally confirmed, we can all agree that Daniel Kertcher is not a scam, can't we?
... You have achieved the exact opposite of what you set out to do.
Samuel, I have been trading with real money for about three and a half years now.
For 2014 I expect a return north of 30 % p.a.
So is Bill Stacy still around?
Well, burglar, what did I achieve? I did not have to achieve anything because I did not have an agenda when I came to this forum in January.
I still have no agenda. However, I have learnt a lot in the last year.
I am therefore grateful to the person who told me about this forum. What I have learnt here has improved my trading performance. My average monthly profit has increased markedly and I am now getting results which are more like Pure Silk's which should not be a surprise to anyone since we are both utilizing Daniel Kertcher's recommendations.
2013 has been my best year so far, and I am looking forward to 2014 with great confidence and I have the feeling that next year will be even better than 2013 has been.
May I wish you all profitable trading.
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