Author Topic: FXRichList  (Read 10735 times)

Offline reinerh

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Re: FXRichList
« Reply #60 on: July 19, 2021, 12:27:45 PM »
The strategy scans around 30 pairs and gives trades based on set rules, so you will find that sometimes we are trading a few pairs and sometimes you will find that we take trades across a wide range of pairs. if it happens as it did this week that we have pilled up trades in one pair then we can not trade many pairs till this one trade is brought under control .

luck has run out once more so it seems, why dont you guys run a signal with smaller but steady gains ?

if the wad is blown, party is simply over.

Offline Rombus Capital

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Re: FXRichList
« Reply #61 on: July 21, 2021, 05:18:11 PM »
Its a step back but we are still moving forward strongly , we gave back alot of profits made the last month but we are still profitable and on the right path ,

Offline diyforexskills

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Re: FXRichList
« Reply #62 on: July 22, 2021, 02:42:30 AM »
I think this signal provides a good example for thinking carefully about risk when joining a new signal service.

For instance if you had joined the signal last week, there would have been no profits to draw on, unlike the provider, and so the initial capital invested would have seen a huge hit; and even at 200:1 the margin call may have been close with some 34 open trades at huge losses.

The strategy may well be sound but "Mondays risk rout saw the commodity currencies get pummelled earlier this week, but they are endeavouring to claw back their losses". But such events are not rare and need to be allowed for. Was good to see that marty trades were restricted to 2x initial lot size and not further added to during the DD.

So for me, and assuming the signal continues to pull out of its DD, copying at 0.2x risk could still be worthwhile. After all, monthly gain is still at nearly 100% and 20% pm is still damn good, and more realistic in my view.

But, each to their own appetite for risk/reward. I assume the signal is trading at high risk in order to get up the ranking scale and to justify the high price.

The other good thing as far as I am concerned has been the ability to do the free one week trial using FXBlue. Luckily I did that to a demo account this past week. Nothing like seeing things in action and thinking how you would deal with such a DD if it was real money. Seeing a blip one year ago on a chart with ever increasing gain is one thing; watching such a blip develop in real time with funds just deposited, is quite another. And sharpens the attitude to risk/reward.
« Last Edit: July 22, 2021, 05:11:54 AM by diyforexskills »
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