i know what he and you mean, but strictly only the (current) price value, ohlc should be named price action,
all other versions must be combined with the rules like: price action pattern trading, price action trend (line) trading, price action inside bar trading and so on! clear? pattern uses ohlc per definition trend uses ohlc, if exponential is used=indicator trading!
FxMasterGuru posted: ** The TOPIC and CHALLENGE is still the SAME since 2013: +5% average monthly profit for at least 2 years (with less than -25% max. DD) at a mainstream broker (preferably non-grid) **
Does such a strategy exist at all...??
So far nobody could show such a single account... (The 'famous' newstraders' claim is not acceptable because of their cherry-picked account compilation.)
What do you think of the following. As far as I can see meets the criteria. >5% monthly profit. 2 years & < 25% DD. One criteria I would add that you haven't is avg win is > than avg loss. The only dodgy point is the the broker. Maltese regulated broker, hmmm don't like it.
Over the past years there have been many 'phenomenal' verified performance results on MyFxBook, but - suspiciously - all of them running at less or non-reputable (i.e. non-mainstream) brokers.
The problem with it is that some 'boiler room' brokers CREATE (i.e. make up) nice performance results just to recruit unsuspecting customers who can watch their PAPER PROFITS grow, until the broker falls off the Earth and gone with all the deposits (and paper profits). In other words: they run a Ponzi scheme, similarly to what Bernie Madoff created.
As mentioned by the 'manager': 'Evolution and its trading is preserved for MAM investors only.' It means that an investor can use only one specific and less reputable broker. Which is suspicious enough already.
Should they be able to show the same results on a separate real account running at an ASIC regulated broker (e.g. ICM, Pepperstone, AxiTrader, etc), then the credibility of this and similar results would be much higher.
The usual respond to this suggestion is: 'We are successful enough and we do not have to prove anything to anybody...'
That is correct Alex, but sometimes the warnings come too late, even on FPA... Unfortunately, well-designed broker Ponzi-schemes can go on for years. Nevertheless, screening by FPA (and by a Google 'scam' search) is a 'must' before signing up with any broker, and any red flags should be taken seriously.
The safest is to use only mainstream and reputable brokers registered in highly regulated countries.
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