Has any one been following Profitrade?
Are you scalping for a few pips profit each trade?
There is a max drawdown so far of 8% on one trade so the risk/reward is a bit tilted. One loss could wipe out alot of profits. But it will be an interesting watch.
Yes is a max of seven pips.
No description whatsoever. Only been 2 weeks so I wouldn’t get too excited.
From personal experience, I tried scalping Forex on C2 and can tell you it isn’t possible with low # of pips.
If one subscriber gets filled and the other doesn’t, then your system doesn’t work. In scalping 1 pip makes all the difference. If you get poor execution or profit targets/stop losses are off by a couple pips due to “trading errors”, your system is in serious trouble. I wasn’t getting good execution on C2 so I shut mine down.
Execution scalping with subscribers is very difficult. I would wait until this guy has real money chasing him and see how he does with 1-2 months of that.
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Yup…thats why it will be “interesting” to watch. Scalping for a few pips is difficult when there can be slippage associated with autotrading.
Yes, but there is a solution to that. When you let your subscribers know what pair you will be trading and at what price the order is going in, so they can place the order on their own.
Be careful @RayGil, each broker also has different spreads. Also, most people will autotrade and not manually trade the signals so you can place limit orders for them.
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Thanks for your feed back.
@RayGil, don’t you use stops in your trades? Currently there is over a 1.5k drawdown. This is not a very good risk/reward ratio.
Howard,
I encourage everyone to use their stop loss if they wish. I only use a mental stop depending on the market, I usully don’t because I am sure of the direction of the market. I don’t place a trade unless I am 99.9% sure of its direction.
Thanks for contacting me.
Ray
So many things wrong with this I can’t even begin.
We’ve heard those words so many times before from other developers…if we know 99.9% that the direction is correct why not mortgage the house for that trade?
But anyways, good luck!
There is always room for improvement.
Why place a stop on your account so the market makers can chase it down and take you out. No market needs to know where is your exit price. I have been trading for almost 30 years and I am still here.
I am yet to know any one that presses that buttom and don’t believe they are going to win the trade. It takes the same amount of energy to be positive of anything than negative, so why the latter.
