Hi guys -I am new to fxbook
May 09, 2015 at 11:32
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2 Replies
May 09, 2015 at 11:32
Hi guys -
I am new to fxbook
I would like to know your opinion on this system
https://www.myfxbook.com/members/smartpipscom/smartpips/809530
I like this auto trader
because it has been going for a long time with a good average monthly gain
he has had some setbacks along the way by the looks
but he has recovered and continued to get do well
I like that he started with $50 and has rolled it into $1000
but there is a high element of risk with this account with a drawdown of 50%
so what is it you guys like and dislike about this system?
thankyou for your wisdom
I am new to fxbook
I would like to know your opinion on this system
https://www.myfxbook.com/members/smartpipscom/smartpips/809530
I like this auto trader
because it has been going for a long time with a good average monthly gain
he has had some setbacks along the way by the looks
but he has recovered and continued to get do well
I like that he started with $50 and has rolled it into $1000
but there is a high element of risk with this account with a drawdown of 50%
so what is it you guys like and dislike about this system?
thankyou for your wisdom
forex_trader_139412
Member Since Jul 16, 2013
385 posts
May 10, 2015 at 07:34
The account passed all my checks (Broker, Profitability %,account age, avg trade length) and only one bothered me a bit , the dd - but on a start of about $50, it could be that his lot sizing was too high in the beginning.
I also like that it is an autotrade account - everything is verified and it is not a martingale.
So it passed all my checks(a rare thing these days) but would love to hear what others think.
I also like that it is an autotrade account - everything is verified and it is not a martingale.
So it passed all my checks(a rare thing these days) but would love to hear what others think.
Member Since Jun 07, 2014
7 posts
May 15, 2015 at 13:16
I see that he is trading only EUR/USD. On the plus side, he is focusing on only one pair, which I like. The only thing I will say to that is if you are going to follow his signals, then you might want to diversify yourself a bit with other people who trade other pairs or have a portfolio with various trading pairs.
I also see that his track record is not verified.
In regard to what Rihan said about lot sizing, he is using 1:500, that's 5 full lots, perhaps that is the contributing factor to huge drawdown? Can anyone else elaborate more on this?
Also,the currency is in RUR....is the Rubles?
I also see that his track record is not verified.
In regard to what Rihan said about lot sizing, he is using 1:500, that's 5 full lots, perhaps that is the contributing factor to huge drawdown? Can anyone else elaborate more on this?
Also,the currency is in RUR....is the Rubles?
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