Subscribers views on Daily FX

Dear C2 subscribers, I would value your thoughts on a new system, Daily FX, it has win rate of 69.5%, an average win to loss of around 1, a max drawn down of around 4.5%, the system manager says be prepared for 10%, average trades 1 per day, so think it looks promising ? thanks PJG

Looks very good on the surface, and even when examined a bit more under the microscope in the Grid.

Warning sign to me is very low APD value (0.37) for a system only two months old. That tells me he’s accepting big drawdowns on individual trades in exchange for a relatively small amount of profit. On average.

I would be cautious with this one and if you take one of his trades, maybe scale back 2 or 3 times in your own account for a few more months until we see that APD get back over 0.5 and stay there.

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Doesn’t look bad. No martingale. Most trades aren’t silly scalps. Has stop losses in place.

My only questions:
-Why not TOS? Such a small amount of money, shouldn’t be an issue.
-I always pause when I see someone who started a system the day they joined C2. Sometimes it makes sense. Sometimes they are someone else who came back with a different name. But not a big deal.

Either way you could certainly do worse here. But I’d like to see a much longer track record. I also don’t like the “Free Subscription” thing, but that’s just me.

Thank you for the helpful comments. I see that the system uses limit orders for both loss and profit, and the comment on the APD would seem to shed light on the way these are set up. It may be system best for the watch-list for now and to see how the systems performance improves over time. Many thanks PJG