Pour utiliser le chat, veuillez vous connecter.
Retour aux contacts

How to find Great Traders for invest/copy?

JohnRo
Aug 26 2019 at 06:10
posts 11
Many people have some money to invest but don't have the time and knowledge to trade successfully. I see that there are so many traders show their trading accounts trying to get investors/subscribers. Still, many of 'great performance' accounts crash or disappear after a few months.

I have copied several signals that looked great at the time of subscription but only to see it perform badly when subscribed. Some of them crashed after a few months or weeks. Luckily I have unsubcribed them before that.

Just want to have this thread to discuss on how to identify a good trading account up front, not really have to subscribe and then fail with them.

forex_trader_[565984]
Aug 26 2019 at 06:59
posts 144
The answer is simple. No great trader will ever provide any signal service or trade copy service to retail investors since there are much better options available for a really successful and consistently profitable trader and they easily get funds from large hedge funds or forex PAMM services etc.

Anyone who is providing some service to retail traders has a specific reason for it and his strategy is bound to collapse today or tomorrow and it is just a matter of time when depending on how much amount is being followed by the signal and how much amount the strategy can handle safely without being caught by large players and forex brokers or banks. Because that is how the forex market works since it is a zero sum game.

This is just my opinion and my past 15 years experience in trading and anyone is free to comment on it. But in my opinion the only way to make profit out of signals is by diversification of the funds in small amounts into multiple traders or systems and continuously withdrawing profits frequently either daily or weekly basis to safe the initial deposit and the profits and maintaining a fixed mt4 account balance always.

Anyone who is adding up the money in his account by profits without frequent withdrawal is bound to loose in long run whether he is making 5% per month or 50% per month or 500% per month.

If the every month % return of a system is at least 2 to 3 times more than the drawdown %, then it might be worthy to follow if the starting balance is low since it can be recovered within 1 month if maximum drawdown reaches there. Otherwise, just stay away from the signal irrespective of how popular it is and especially, if a strategy doesn't use stoploss, then definitely stay away.

marco_mmbiz
Aug 26 2019 at 07:47
posts 366
You need to look for consistent trading accounts, I mean accounts making steady profits for more than 10 or 12 months already. You'll see that there are not that much out there who can show you consistent results. Also the accounts have to show you that they're fully verified by MyFXbook and show you all the details you'd need (history, deposits, drawdown, withdrawals, profits and so on).

patience is the key
Felhagamand
Dec 12 2019 at 19:10
posts 27
There is very small chance that you will find good trader to copy, as they don't share signals. The only one chance is to find broker that provide such feature, but you will pay high comission to that profi-trader, so it's better to learn trade on your own and develop your skills.

Professional4X
Dec 12 2019 at 22:42
posts 1189

The difference between a profitable investor and someone with a blown account is RISK MANAGEMENT.

Everything else is secondary to RISK MANAGEMENT.

Learn to PROPERLY trade and focus on RISK MANAGEMENT is the #1 priority.

If it looks too good to be true, it's probably a scam! Let the buyer beware.
JohnRo
Dec 13 2019 at 03:39
posts 11

I the subscribed to 4 signals at the same time in one account. Today the account blown because of a very wild move on EurUsd, AudUsd, GbpChf. There are big DD happened in 3 signals in the 4: 68%, 48% and 30%. The multipliers I set are not good either.

I think it is better to find a good MAM to invest.

Professional4X
Dec 13 2019 at 07:41
posts 1189
JohnRo posted:
I the subscribed to 4 signals at the same time in one account. Today the account blown because of a very wild move on EurUsd, AudUsd, GbpChf. There are big DD happened in 3 signals in the 4: 68%, 48% and 30%. The multipliers I set are not good either.
I think it is better to find a good MAM to invest.


I think it would be better to simply invest a little time into learning how to trade properly and how to use effective risk management, rather than just rushing into another situation where the investment capital will be lost again.

Consider this for a moment ok?
You paid for 3 signals and had bad results from all three of them.
As a result, you ended up with a blown account and loss of investment capital.

And yet, you want to continue paying other people to manage your investments?

Lean to properly trade and focus on risk management.

Risk Management is always the #1 priority above everything else.

Learn from the mistake and avoid making it again.





If it looks too good to be true, it's probably a scam! Let the buyer beware.
JohnRo
Dec 13 2019 at 09:21
posts 11
I know it is best to have the knowledge and skills to trade by yourself but it seems that route is too hard for me. I see many people keep trading and keep loosing for many years.

There must be a place for investors to invest, with good return and low enough risk.

joneiltrader
Dec 13 2019 at 18:59
posts 10
Professional4X posted:

The difference between a profitable investor and someone with a blown account is RISK MANAGEMENT.

Everything else is secondary to RISK MANAGEMENT.

Learn to PROPERLY trade and focus on RISK MANAGEMENT is the #1 priority.


100% agreed! Risk management is rule 1, 2, 3, 4, 5... Good post.

WealthyTrader
Dec 20 2019 at 19:00
posts 2
Professional4X posted:

The difference between a profitable investor and someone with a blown account is RISK MANAGEMENT.

Everything else is secondary to RISK MANAGEMENT.

Learn to PROPERLY trade and focus on RISK MANAGEMENT is the #1 priority.


I totally agree with You. I have blown Hundreds of Thousands of $$ accounts because I could not manage my risk + Impatient.
I learnt in a hard way. The last SL hit was last week UK Election. I knew GBP is over-bought and decided to SELL All GBP pairs prior to election result. Because I use High volumes, as soon as price spike up, I close ALL trades on Big Loss (60%) and now GBP is down. Too bad for me. That is why i started searching for a good and profitable signal i will auto copy so I can take rest atleast for next 6months and study very well + learn to manage risk + impatience.
Any help will be appreciated. I need honest and trusted recommendations.

Veuillez vous connecter pour commenter .