I am new to Copy Trading and currently looking for reliable signals to copy. Obvious are facts to look out for like: - Only Real Accounts - Only Accounts that trade more than a few months - Max. Drowdown of 50% - Continuous trading and continuous small wins - no risky strategies like Martingale etc.
Do you have other things that you look for when searching for a signal?
Thanks for your help and please don't advertise for your own signals here!
hamster-turbo is also here om MyFxBook and you will find a description of the strategy. But the system does not use a classical money management strategy (Margin-Stop-Out). It is a very interesting gambling system for low funded accounts which uses a big leverage (in Europe and USA not possible) and very high stakes.
On the other hand: cTrader provides as sample a Martingale system which yields huge profits: A long backtest (2011 -2017) showed how you can become a millionaire starting with an account of 10.000 €. But it is still a Martingale (Drawdown 90%). There is always a point when you need the one lucky trade.
When you have some money for fun it is not worst alternative.
Protagor posted: hamster-turbo is also here om MyFxBook and you will find a description of the strategy. But the system does not use a classical money management strategy (Margin-Stop-Out). It is a very interesting gambling system for low funded accounts which uses a big leverage (in Europe and USA not possible) and very high stakes.
Thanks for your post! Why do you think it is a gambling system? The profits seem low but constant. And there are two different money management strategies in the description and the signal provider seems to do a great job using it. When you look at the history you can see a regular withdrawal and never too much risk. For example there are no trades during christmas holidays and before important decisions (like the FED).
I do not question the integrity of the signal provider and she is honest about her approach.
But in the last week she made of profit = 22.6 pips as a result of 4 trades und used 2.08 lots but the account has only a balance = 650 € or $. Basically low profits, also a low risks but when the risk event comes then it goes nuclear.
Even when there are perhaps reserves of 2.500 the lot size of a trade is very high. With such an balance i would never more invest than 0.05 - 0.1 lots. You have also to check yourself if a watchdog is limiting your leverage.
Betfair is a sports betting exchange and there you can back 1.01 events (win chance at least 100:1) but you have to invest 100 units to win 1 units (and 5% commissions on wins). Many people considers this a 'sure bet' but studies have show that such an approach is a looser.
Sure. The real balance of signal provider's account can't be extremly small. It shouldn't be one of the overclocked accounts that will be blown off later without any impact for provider. Thanks for your reply! So you think the real balance of that account is too small? https://www.signalstart.com/analysis/hamster-turbo/37586
Im confused with number 4... can someone clarify this first strategy offered by hampster?
1. Divide your available capital in 4 parts and invest in this signal the 1/4 of it (signal funds). 2. Keep your 3/4 back up funds in a different account. 3. Withdraw your profits every Friday afternoon. 4. After each withdrawal divide all your available capital (back up funds + signal funds + withdrawn funds) in 4 parts and start fresh with the 1/4. 5. When a margin stop out* occurs (and will occur at some point) don't panic, divide all your remaining capital (back up funds + signal funds) in 4 parts and start again with the 1/4. 6. Repeat this process and you will be in profit.
I only use the candlestick indicator from yesterday's price. so I will open a position at 00.00 server time.5 pips every pair. I open only 5 pairs of high votality currencies. that's all.....happy trading
Rixxx posted: And that works? Do you have a statistic?
Don't worry or even care about how many pips you can get every day.
The market will determine how many will be available to you.
Some days you might be able to only take 2 pips from the markets, some days you will lose pips, some days you will do nothing, and then other days the market may present an opportunity for a few hundred pips.
What you should be focusing on, is learning proper money management, proper fundamental analysis, and proper technical analysis. All of those things are vital to successful trading.
All you need to do is wait for the proper setup, which depending on your strategy, may happen multiple times in a day, or sometimes it wont show up for weeks at a time.
In addition to those items I mentions, you will need to develop discipline and control of your emotions.
If you can do those things, then you can be a successful trader.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.