I updated our live stats page this week. It seems a lot of systems are struggling and we have accumulated high floating drawdowns with Funnel Trader and VitFX (and FXDiverse, which interestingly has sat around with a number of open trades since the day i started it!).
Surprise gainer this week was FAPTurbo, rising from the dead with a 20% gain - though as you can see in the chart below it's been an extremely rocky ride! I intend to keep this one (and any test actually) going for a minimum of 12 months to see where we get.
Going back to the subject of floating drawdowns, i think it's important to note that we shouldn't choose a system based on it being at/near the top of the performance list. I intend to add more information about drawdowns into my live tests page, but this is an extremely important factor to bear in mind, especially if you are looking for returns over a relatively short (3-6 month) period.
Some systems on my list HAVE performed reasonably without accumulating any floating drawdowns at all (in this instance, defined by a drawdown held on account for longer than 24 hours). For example, Forex Real Profit and Best Scalper
Forex Real Profit:
Best Scalper in particular i think makes the best candidate for making short term profits and seeing results. It trades only Monday to Friday during the Asian trade session, and all of it's trades have been closed by the time i get to work the next morning (UK time).
It'll be interesting to see how things progress this week! View all our official live tests