Lost thousands of dollars. Poor risk management. I am training to be a pro trader and I cannot lose more than 1% of my firm's funds at any time. That is a hard rule for many pro traders. These amateur-style algorithms on C2 can lose more than 10% in one day, triggering margin calls, which make staying in advertised trades realistically impossible. Tried programming stop losses to prevent capital loss in Interactive Brokers, but IB has extremely limited quantities after hours (even at 4:30pm!) unlike other trading platforms. Your stop losses will not be respected, will not fill.
I am happy to be inside :). There are some days when the NASDAQ goes down
and this strategy goes up.
I have never seen such a consistent & profitable trading style with stocks before.
This strategy was working well for a while. There is no downside risk protection with stop loss and too optimistic on long index trades. Move up was slow and steady but the falls are sharp. Losing 10% so far not adding fees.
One of the few systems which day trades stocks successfully. Entries are usually in first 30 minutes of market open and near close so can be manually traded. There is always risk with any system but this one is somewhat mitigated as no over night trades and usually a mix of long and short
A good example of a ticking time bomb strategy. How do you have a dozen plus months of positive returns and then lose more than 80% of allocated capital over the course of a week or so? Reckless risk management, doubling down on each loss with larger bets in an attempt to claw back. It works until it blows up spectacularly.
Strategy developer doesn't respond on any questions, and doesn't keep smooth risks along time which cause significant potential of loss. I'm very unsatisfied with the strategy and its developer.
I manage several algo/AI strategies for a private investment group, but we don't trade leveraged ETF's. Thought I'd give this strategy a try and subscribed in early September, based on track record up to that point. Well, Sept-3 was worst timing ever to sign up for a strat that primarily longs TQQQ, but rode out Sept and now we're halfway into Oct, already recovered Sept losses and up around 12% overall.
For better or for worse, this strategy does NOT intraday trade. Almost all positions are opened/closed right at end of trading day. Before I set this strategy to auto-trade, I traded every new signal manually, and often got a better entry/exit prices (and therefore returns) then the strat by a) waiting until post-market to enter a 50% position at a better price, and b) if price moved further against the strat position overnight, I would enter 2nd 50% of my position at an even better price. If price moved in favor of strat, then I would just trade that original 50% position.
However, the point of auto-trade is just to turn it on and not mess with it. And this strat's monthly ROI speaks for itself. While you can choose to manually override signals (as I did), it requires more work, AND at that point you can no longer depend on the strat track record as YOU are modifying the strategy.
Pros:
- Good communication from strategy manager
- Great ROI track record
- Built in stoploss logic (it will exit intraday if SL reached)
- It holds through volatility that most humans (and a lot of algos) would not, usually to its advantage
Cons:
- No intraday or trailing stop, so your position can tank massively through the day and you just eat it (unless all profit erased AND stop loss hit). That's obviously built in to still great ROI track record, but hard to watch when it's happening!
- Not sure yet how this strat will do in sideways/down market, as while it DOES long SQQQ, it seems to definitely be biased, both in position size and hold time, toward a bull market.
Bottom line is you can't argue with results. Someone will ALWAYS complain about something with ANY strat, but this is the best strat on C2 at the moment, and there's not really any arguing that.
Very well managed strategy with great communication from the strategy leader. I'm quite happy with its performance and it's worth every penny. I'd definitely recommend this strategy.
Good communication from the strategy manager, which is much appreciated (especially explanations after some big losses). Had a few negative weeks, which apparently some people are not happy with, but it's always going to happen. Hopefully they didn't bail, as we just finished at the top EOW we've seen. Looking forward to riding this one out.
