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Its forex time - any thoughts?

#1

I was wondering about any experience with this popular system.

My thoughts:

Cons

  • No strategy description available.
  • 90% winning trades.
    (=Keeps many losing trades open until they turn into profit after many days or weeks)
  • Adds to losing positions.
  • High leverage (?)

Pros

  • 100% TOS !!!

(PS. This discussion is not an invitation or suggestion to join that system)

#2

You pretty much nailed it with the Pros/Cons.
Impressed this dude is TOS the entire time. Has made himself some nice money.
Kind of expensive.
Good luck.

#3

I would be worried currently for this strategy. The equity curve shows an increasing drawdown since the end of March, but the public record shows none of these losses taken. This probably means the trades are not closed, being held on to until they (hopefully) show gains – gotta keep that win rate high! Most of his trades last a day or less, so this seems odd behavior… until you realize it’s the behavioral trait of a trader who cannot take his losses, and is probably trading without stops.

@DogZebra_Investing: get out the popcorn, this looks like showtime.

1 Like
#4

Yeah I finally had time to check out the CADJPY trade with the 24% drawdown. He had other trades that were winning at the time that looks like they effectively offset it (so strategy drawdown only 16%).
Still, looks like no stops whatsoever. That scares me.

#5

No evidence of a stop loss and adding to losing positions= danger; and no descritpion is a big turn off - apparently its a bot which I thought was cleverly keeping open DD under control, but not so now it appears…

#6

There goes another average down strategy getting blown away. Managing average down trades takes real skill which I doubt most traders can handle.

Because once u average down where is the new target and do you need to adjust the stop as well and where will the new stop to be placed? If there are no stops then one day a catastrophe will occur and wipe out a large percentage of the balance.

#7

It used to be less expensive one month ago,
then by the end of march the trader raised it up to 225$
now in april it’s already at 260$.

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