About NinjaTrader and NightProfits:
I know it has been commented that they are highly correlated but I wanted to know how many of you are subscribed to these and what was your experience. Here comes mine:
NightProfits: After 1 month subscribed (August) and losing a lot I decided to cancel the subscription, it seems that it is copying NinjaTrader trades (as they are done a little bit later) and I assume it copies also some other trades to make it harder to detect. I think Myfxbook should do something with this.
NinjaTrader: I decided to cancel the subscription at the same time than Nightprofits but being too greedy I subscribed back a week ago. Today I am out again and will never subscribe back and these are the reasons why I think we should run away from these strategies:
- 3.1 expectancy pips is not great but seems to be good enough. Issue is that at the end of the day when you factor the actual slippage you will get a very different picture. I have copied 44 NinjaTrader trades since August and the average slippage turned out to be negative -2.46 pips. If this slippage is the standard one and I have no reason to argue that due to the nature of this system, then the recalculated expectancy will be reduced down to 0.64 pips.... No way this can be profitable for the subscribers.
- Then we have missing trades, those trades that are not copied for any reason. Unfortunately despite how myfxbook does this make absolutely sense it is always reducing our profits. 'If a trade can not be copied the it will keep on trying to copy it if the current price is better than the original price' -> So those trades that are winning trades since the very first moment to the end will never be copied. What would be the final recalculated expectancy?? I can't calculate as I don't have stats for trades not done but probably close to 0 if not negative.
So this is how a wining system for the trader becomes a losing system for the subscriber.
I came to the conclusion that I will never subscribe to any strategy with less than 4 pips expectancy.
I think myfxbook should do its best to add average slippage stats into autotrade so we can make smarter decisions as it is just impossible for us to calculate that until it is too late.
Let me know your thoughts.