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Newbie Chit Chat - Choosing The Best Trading System On MyFxbook?
Jun 13, 2016 at 13:46
Vistas 771
2 Replies
Miembro desde Dec 09, 2014
posts 5
Jun 13, 2016 at 13:46
Hello all, i am noobs and after got scammed a few year ago i need advices from you all.
How to choose best trading system here on myfxbook?
i realy appreciate all your suggesttions.
thanks
How to choose best trading system here on myfxbook?
i realy appreciate all your suggesttions.
thanks
Jun 13, 2016 at 14:54
(editado Jun 13, 2016 at 14:55)
nice question, for me i will checking first account must be real and both track record and trading privileges verified.
the second thing i will see what broker he/she use. of course the reputable brokers is good choice, in this case i prefer to see if brokers comes with strict regulations like cftc, fca, asic.
next check is drawdown, dd is another important factor. for me, drawdown 5% is good choice if account above 10k, and for a few thousand dollars i think 10 - 20% is normal. for starting deposit few hundrets dollar 50% drawdown is still normal. of course you must compare drawdown and return, the good sign is return must 2x drawdown or more. for example : if you see drawdown 10%, gain must be 20% minimum.
and the last the most important thing is checking average win,average loss and profit factor. good system must have average win higher than average loss and profit factor minimum must be 5.0 why? because this indication of risk reward, did you want your 100 winning trading trades vanish because 1 losing trades? sure, nobody ones want it. Every one want 100 losing trades can be recovery only 1 winning trades. yup that's it. I hope this can help you choose the good system.
the second thing i will see what broker he/she use. of course the reputable brokers is good choice, in this case i prefer to see if brokers comes with strict regulations like cftc, fca, asic.
next check is drawdown, dd is another important factor. for me, drawdown 5% is good choice if account above 10k, and for a few thousand dollars i think 10 - 20% is normal. for starting deposit few hundrets dollar 50% drawdown is still normal. of course you must compare drawdown and return, the good sign is return must 2x drawdown or more. for example : if you see drawdown 10%, gain must be 20% minimum.
and the last the most important thing is checking average win,average loss and profit factor. good system must have average win higher than average loss and profit factor minimum must be 5.0 why? because this indication of risk reward, did you want your 100 winning trading trades vanish because 1 losing trades? sure, nobody ones want it. Every one want 100 losing trades can be recovery only 1 winning trades. yup that's it. I hope this can help you choose the good system.
Miembro desde Mar 18, 2016
posts 118
Jun 13, 2016 at 16:41
KATSUO posted:
nice question, for me i will checking first account must be real and both track record and trading privileges verified.
the second thing i will see what broker he/she use. of course the reputable brokers is good choice, in this case i prefer to see if brokers comes with strict regulations like cftc, fca, asic.
next check is drawdown, dd is another important factor. for me, drawdown 5% is good choice if account above 10k, and for a few thousand dollars i think 10 - 20% is normal. for starting deposit few hundrets dollar 50% drawdown is still normal. of course you must compare drawdown and return, the good sign is return must 2x drawdown or more. for example : if you see drawdown 10%, gain must be 20% minimum.
and the last the most important thing is checking average win,average loss and profit factor. good system must have average win higher than average loss and profit factor minimum must be 5.0 why? because this indication of risk reward, did you want your 100 winning trading trades vanish because 1 losing trades? sure, nobody ones want it. Every one want 100 losing trades can be recovery only 1 winning trades. yup that's it. I hope this can help you choose the good system.
Spot on, might I stress the importance of verification and known broker..
My accounts will ALWAYS show high DD. This is done purposely to maximize our withdrawals every week.
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