Hi,
I would just like to add my support to the posters who are commenting on money mgt and the “dangers” inherent in not follwoing some sort of structured approach to this.
I too have some concerns about the “top rated” systems where a number of them seem to be trading with a high degree of risk attached to them. It would be beneficial to a lot of traders to look beyond the thousand plus % returns over a few weeks and look at the other key paramters such as win:loss ratio, number of trades profit factor etc etc.
A good system is one that generates steady sutainable returns with a physcologically viable drawdown.I dont know many people who can continue to trade through 60%+ drawdowns with a reasonable amount of capital at stake.
I do believe caveat emptor, however I think a lot of people may be seduced by these amazing returns then become disappointed if they are not realised or find it hard to trade through the inevitable huge drawdown at some point.
It would be good to have some sort of abiilty to get the solid systems in fornt of people(i.e. the ones that are likely to make them money steadily and for many years to come, trading 100 and 200 mini lots on a $100,000 Forex system or Futures contracts in the tens on a similar sized account is not IMHO likely to be sustainable or tradeable for the majority.
I therefore support the view that we should do something to ensure that these types of systems with whatever fantastic return they post do not blind people to the other very tradeable and sensible systems on here.
