Copying the relax1 strategy from Urai

roggie since: 01 Mar 2021;

  01 Mar 2021, 17:08
Copying the relax1 strategy from Urai

Shares4us said:

the one with the volume fee is a scammer.
*** NEVER *** follow a startegy with a volume fee. You set your door wide open for emptying your acoount in 5 minutes.
Check https://t.me/cTraderCopyUnofficial for more info on copying strategies

Thank you Shares4us
Could you please cast some more light on that? I've stopped copying this user before I get some clarity on this. So currently the volume fee set for this strategy is 30USD per 1 million. Hence I understand it is 3USD per lot and it is deducted from each opened position - contrary to the performance fee which is deducted during withdrawal of the funds or after 30 days.
Aside from the fact that the Urai user might be a different one from urai, what is the risk of using a strategy with volume fee? I have searched for this info on the telegram link above but did not find the answer there.
I would be grateful if you could share some background, please.

Cheers!
R.

WinFX since: 04 Jan 2020;

  02 Mar 2021, 07:39
RE:

PanagiotisCharalampous said:

Hi Peter,

I am not sure what explanation you need. The users above followed a strategy that lost all its funds in trading.

Best Regards,

Panagiotis 

Join us on Telegram

After my recent terrible experience on this copy platform my only suggestion is not to follow anyone to copy. Just trade on your own if you can or please sit on your capital. Atleast it is safe that way.

Shares4us since: 01 Apr 2020;

  04 Mar 2021, 10:24
RE: RE: RE: RE:

probably you were in the telegram group too late for the discussion. So here is the explanation i gave:

 

After seeing several times all funds of people being ripped off by a copyprovider it's time to warn you folks!.
READ CAREFULLY IF YOU DO NO LIKE BEING SCAMMED
The way they do it is simple.
Just charge a volumefee and sometimes a profitfee.
Make sure the fees are low to attract as many people as you can.
Then attract as much followers as possible by using a martingale or copying trades of a good strategy.
When there is enough 'dumb' money following and you're are in need of cash, open as much trades
on every tick and close them directly after they're opened.

For every trade opened the volume fee is deducted from the victims account and added to your account.
Even their set stoploss will not completely work because of lagging and filling.

So be warned and visit cTraderCopy Telegramgroup .
Read the pinned message and enjoy the good providers.
In private i'm a copier myself and only follow strategies that qualify the groups criteria. So sometimes
I sweat a little seeing what my providers do, but in the end it is still a profitable way of earning money for me.

Copytrading is like getting a taxi. Only ride with taxi-drivers that:
- know how to drive;
- know the city;
- have not to many accidents ;
- and only charge a fee for the distance travelled.

Shares4us since: 01 Apr 2020;

  04 Mar 2021, 10:25
RE: RE:

that's a bit like:
"I once bumped on a bicycle when crossing the road. I'll never cross a road again."


If you want to cross a road first look at the traffic on the road and not just cross it without assessing the risks.

Same goes for copying / following a strategy.
Follow a Strategy only if you've done your research and follow in demo first.
Check the telegram chanel  for more info, comparisons and warnings.