Rustyiron posted: Yeap, that was clearly ignored, very disappointing. Reached 55% DD
This trader is worst than I thought. Martingale will always lead to a blown up account without a hard stop. Their reply to me was that some traders sent a message asking to let the DD run....okay...so a few people ask and you let EVERYONE run into massive DD. Anybody running the strategy at 2x risk or more has already blown their accounts. Insane.
Hard stop at 10% means 2x risk, you give yourself a 20% max risk. Some people can be comfortable with that, but its out of the window once a 'hard stop' isn't a hard stop at all.
Yeap, unfortunately I was one of those. With single digit DD history beforehand was comfortable with that, bit foolish.
Didn't know that, he really should update the commentary if that was his plan. Had taken a loss before through the signal but it was small and recouped quickly, which made me feel more comfortable that he would close out if looking completely wrong. Was ok with a 20% hard stop.
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.