Update 3/27/2012
My live money account closed a couple trades for a loss and is now regaining some of the losses from yesterday. This is the account where hedging is not allowed. I can see that not only are the hedge trades not being executed, but some other trades were not executed due to lack of funds.
In the demo account, all trades are being placed and we have regained some of yesterday’s losses. Right now, the account is ahead about $10 (floating) from where we started on Monday. As you can see, it’s very important to be able to hedge and to have an adequate trading balance.
Greg’s success signals is very odd in their absolute lack of any guidance as far as trading balance goes. I would guess that $500 for every 0.01 lot is what you want. That’s based on a 100 pip stoploss. Since there appear to be NO STOPLOSSES in Greg’s Success Signals, it’s hard to justify any account balance. Support still has not gotten back to me with info about how Greg handles risk.
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Greg Stefaniak and his signal service GregsSuccessSignals has been officially found guilty by the Traders Court at Forex Peace Army. 57 members out of 84 voted guilty which is 67.86% I have now alerted people through this blog and the FPA scam review site to what Greg Stefaniak is doing. If I have saved others from the same fate I am happy. I hope he gets shut down completely or that someone in Poland reports him to the authorities. That would be justice served for his greed. I can’t really do any more now so I can put it to rest and get on with better pursuits. Thanks to everyone for your help and support.
It is now October 12th 2012 and I can update the situation with Greg Stefaniak. Today I received a letter from ASIC (Australian Securities and Investments Commission) asking for my permission to release details of my complaint to ASIC regarding my trading losses by Greg’s Success Signals Service, to the CFTC (US Commodity Futures Trading Commission). So it seems that the CFTC in the United States is now investigating Greg Stefaniak which is very good news. I visited his sales page which says his service is sold out at the moment. Perhaps we have succeeded in shutting this person down. Now it remains for him to answer for the fraud that he is and for the misery he has caused. If I receive any further news I will update you all.
Cheers and happy trading.