Results in % not in pips please ! - page 2
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Everyone join hands, we are taking the caravan of % revolution!
A system shall include what instruments are traded, what MM is used, what leverage is used, everything otherwise it is not a system it is a small part of a system. Everything shall be described in the trading plan of the system. Then if you are not able to give a %, then you don't have a system
What you and each of us in looking for can be found at Collective2.com ,Its a great site for tracking all types of systems and breaks down each trade. The problem is that the "Fly by night" trade call services will never submit thier system to this web site due to the fact that it will expose them for what they really are "P.O.S" This site is a independent auditor. Its a great site one of the best and it hides nothing from the public, so "Fly by nights" do your self a favor and stay away.
Iceman
Well, if the provider can tell you their MM, it should have not problem with %. Actually, I like % with sound MM. PIPs without trading size just make no sense for account equity at all.
Yeah true, hence the ideal scenario would be % and pips.
But again, % risk is up to the trader. Pips is determined by the rules of the system.
Yeah true, hence the ideal scenario would be % and pips. But again, % risk is up to the trader. Pips is determined by the rules of the system.
no the ideal is net % and DD in % or Risk/return ratio
the worst is pips.
Do you understand that you can be positive in pips and negative in balance?
That won't happen with %.
Post account statements for verification
I want to add one more point for service providers. They should either join 3rd party verification service or post account statements for us to verify their results.
It's very easy to set up a demo account to trade your own signals and show us your results from your statement instead of just telling us so many pips without any verification.
I see more and more providers are doing it now.
I want to add one more point for service providers. They should either join 3rd party verification service or post account statements for us to verify their results.
It's very easy to set up a demo account to trade your own signals and show us your results from your statement instead of just telling us so many pips without any verification.
I see more and more providers are doing it now.But some providers will understandably not post account statements because they don't want to give away information that can expose their edge or trading pairs. Anyways, a private 3rd party audit, is probably the way to go.
no the ideal is net % and DD in % or Risk/return ratio
the worst is pips.
Do you understand that you can be positive in pips and negative in balance?
That won't happen with %.Yes, showing drawdown in imperative.
Yes, showing drawdown in imperative.
it all written above in post #29 above. At a site called Collective2.com
it all written above in post #29 above. At a site called Collective2.com
Yes but the issue is people that just come in forums and open a thread with a title like "xxxxx pips this week / month "
It is just fooling a lot of newbies that are impressed by the large number of pips.
I would suggest that when we see in the threads we follow such kind of sentences presented as results of a system (specially the commercial ones because in that case this kind of results may be published with the intentions of really fooling people) we just ask for results in net % and including the DD in %.
The reaction of the guy publishing the results to this request will be a good indicator on the validity of the system. If he gets angry or refuse to do it claiming that it makes no sense or finding excuses, then it just means that people can forget about that system.
Yes but the issue is people that just come in forums and open a thread with a title like "xxxxx pips this week / month "
It is just fooling a lot of newbies that are impressed by the large number of pips.
I would suggest that when we see in the threads we follow such kind of sentences presented as results of a system (specially the commercial ones because in that case this kind of results may be published with the intentions of really fooling people) we just ask for results in net % and including the DD in %.
The reaction of the guy publishing the results to this request will be a good indicator on the validity of the system. If he gets angry or refuse to do it claiming that it makes no sense or finding excuses, then it just means that people can forget about that system.I believe a lot of service providers heard you because I see more and more are adding % recently. We are here in a forum doing something good for the industry because ROI or % is the best way to measure performance.
I want to add this: they should also add account statments, demo is fine, from MT4 platform so we can see the DD and other information from the account summary. I know some providers may not use MT4 but it will be very easy to download a MT4 demo and trade on it for demostration purpose only.