Money down the drain
Update: NURP you have my info if you have constructive ideas on a path forward. I’m obviously frustrated at losing my money so quickly. If you love watching your hard earned money disappear into thin air then the NURP trading algorithm is for you. I understand that there is risk with this type of 'investment' and I did not go into this blindly. However, historically the master algorithm that my account was copying had a max draw down of 7% with years of back testing. Well, not even 3 months in and my account went well over 10% draw down and hit my equity monitor which closed out all my trades with a $15,000 loss (so glad I didn't put more money in like I initially intended to). Luckily I put the equity monitor in place to preserve some of my remaining money (still TBD whether I can withdraw that remaining $). Otherwise I would have lost it all. In the couple days leading up to my loss I tried asking questions on what I should do to avoid hitting my equity monitor but the response I got was "I am unable to offer financial advice". That was very helpful. Part of the downfall of my account was some sudden moves with AUDCAD and NZDCAD that the software did not handle well. The marketing for this algorithm was that it diversified well and hedged well against these types of moves but apparently not in my case. The other part of my account downfall was XAUUSD which has skyrocketed recently. The NURP team stopped future trading with that pair from the algorithm but I still had an open trade that kept growing in the negative which was a huge reason why my equity monitor hit. My advice to anyone looking into this would be to make sure you are an expert at forex trading before you do it so when things go sour you will know how to adjust. But then again, if you were an expert, why would you be using the algorithm to trade for you. So really my advice would be that if you have some extra money to put into this, just go spend it because at least you will have something to show for your hard earned money. I think the most frustrating part about my experience was that I asked if NURP would allow me to use the algorithm for free until my account was back in the green. This way I could see if the algorithm is capable of actually doing what it claims to do and maybe get my money back. If it worked then I would be a happy customer, NURP could continue getting subscription fees from me in the future, and I wouldn't be discouraging others from making the same mistake that I did. But the response I got was "We look at the subscription fees on a quarterly basis as any asset class can have a down month. So if you are going to continue trading with the Argos signal, you would need to have an active monthly subscription on file.". Lastly I should probably state that my account was trading at a 1.0 multiplier so I was not pushing the algorithm past any recommended settings. Just the normal copy trading settings.