Good day to you Lenanapeak.
Thank you for your interest, very good questions to ask and I am happy to address them.
1. I have about 5 years of trading experience. I have learnt several strategies, however as years went on – I chose to focus on one key area and really gain the intimate knowledge for this specific trading style that you will see under this Piggy Bank profile.
2. All trades are manually opened, and adjusted. There is one EA running in the background that completely stops all trading for that day if the drawdown reaches 2% of the account value. 2% is a very tight drawdown, but that is the target cut off should a trading day not go our way. Piggy Bank will NEVER hold losses in a “hope” that the market turns back into our favor. We simply stop, reassess, and move onto another trade.
3. The Piggy Bank Scalping trading style is certainly no martingale, or any other system that may appear to work on a short term basis. There will be a time where 2 – 4 positions are opened, but this is due to the complex nature of the trade setup that I can provide you an example with if you wish, but just be aware that the EA will cut trading off at 2%, so there is no “over-exposed” trading happening, only justified trades IF parameters and price action allows it.
4. While the EA is set at 2% in the background, each open position will have it’s own stop loss value as well. This is done to capture any time where the market has a very strong and fast move against the open position. When positions are in profit, those stop losses then become a trailing stop to lock in profits, again to cover strong and quick trend changes.
5. The intent of Piggy Bank Scalper is to offer it as a service. As usual it will require a solid 3 month performance before it can be approved as a signal service. In the mean time I trust that you follow along over the next few months, and verify the data in real time should you choose to come on board. The data will always be there, and I will be available within this forum for any other questions you may have in the next few weeks
6. The expectation for the signal is to target minimum 10% per month. Some may say this is not big enough to get involved with, but I believe it is a great return considering an account drawdown will only ever be 2% maximum, so that to me is a pretty good risk ratio, and it also provides an all round service for those that require short term income support, long term growth over time, and for those who like to risk a little more by duplicating their exposure without the risk of account failure.
I hope this gives you a good understanding of the service that could be provided to you in due time. The key to scalping is consistency, and that is certainly the aim of what this signal is about. I also wish to continue keeping communication open and free with members as I feel it is a very important factor in trading and providing a service to others, thus this communication will be available indefinitely, and I seek to address anything that comes up on the forum to keep this strong level of communication, member satisfaction and confidence that they are being looked after and not taken for a ride.
Thank you again for your interest. I am sure we shall make contact again soon. It is early days for Piggy Bank Scalper
Profits should be made from market movement... Not over committing on positions. Sooner or later, the latter option always comes back to haunt the trader