Bad signals/service reporting - page 4
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Suggestion
Chris,
maybe it is also important to Demo trade a system at first for some very obvious reasons:
1.You want to test your setup. RAS EA setting, execution quality, execution speed, technical problems
2.You want to get to know the system by looking at the trades and not only on a stats page. That is different!
Some well known commercial EA sellers post backtests on the net for marketing, which show several years of DD up to 78%, even though the system finishes the year with a nice profit.
Maybe time to think about trade leverage! and look at all year, not only the end result.
3.I have noticed, that my subscribers in RAS 515 and other systems are trading with a much higher than the recommended trade leverage. This is obviously not in my hands and the sole responsibility of the individual subscriber.
Janus
Janus,
The only problem with demo testing of paid signals (especially expensive ones) is that 7 days free trial is too short for evaluating any results properly. I don't think there are many people willing to pay a fee for demoing signals. I did the 7 days demo testing with the * signal and results were excellent...
The only good philosophy for demo testing I've found, is the one of Forex Goldmine, who sell an EA called Robominer. They let you download a copy and evaluate as long as you want on a demo account. Then you can purchase a license for a live account.
I don't know however if this would be technically possible on a signal service like RAS, because how could they know if you are using their signal on a demo account or live? Or could they? - Because if they could, that would be a great way of testing signals!
Chris
Bumpy roads
Chris,
if somebody wants to invest in the FX market and use third party signals, than a longer Demo test might be cheaper, than getting caught wrong footed with live money and bad performance.
Robominer is tested extensively all over the net with all kind of different settings.
It is a very basic grid EA for AUD-NZD and EUR-CHF and has just 1 big disadvantage, as all grid robots have:
No stop loss, other than that your account gets a margin call. High DD are inevitable and can prolong for weeks.
For me a 10% profit is relative, if you have a 25% DD......lol
Janus
Chris,
if somebody wants to invest in the FX market and use third party signals, than a longer Demo test might be cheaper, than getting caught wrong footed with live money and bad performance.
Robominer is tested extensively all over the net with all kind of different settings.
It is a very basic grid EA for AUD-NZD and EUR-CHF and has just 1 big disadvantage, as all grid robots have:
No stop loss, other than that your account gets a margin call. High DD are inevitable and can prolong for weeks.
For me a 10% profit is relative, if you have a 25% DD......lol
JanusYou must be referring to your triggerfx? It has no stop losses and is over 1000 pips in dd. Your acct size is irrelevant when you say in your description you can use accts as small as $100 with .01 and you know that would have resulted in a many a margin call with the current DD. In order to cover your butt you need to plan for the worst like now, recommend a much higher acct balance in your description. I know of 2 margin calls on friends on Triggerfx today who just tried the free trial this week.
This gets funnier and funnier.....
Hear, hear... "There is something rotten in the State of Denmark."
Todd,
attached is a copy of the original system description from the RAS website.
That description is there since the very first days of the system and has never changed, only got amended.
I do not know, how a subscriber can get a margin call on TriggerFX, unless he uses a different Money Management or is not able to understand it.
I do not know, how somebody can not understand the stop loss feature in place.
All is in there:
-the account size of the reference trading account is 10 000USD with 0.01 lots
-the Mt4 stats link to check the reference account
The system has a current DD of 118 USD on a 10 000USD account.
How can a trader get a margin call?
see attached
Janus
I understand what your saying but some might not. Your mt4 link is not the 10K acct you mentioned. Its MT4 Stats - Share your MetaTrader 4 Statements with the world which has a balance of $337.
And 1100 pips in DD.
In your description you say this, 100 usd in micro .01, 1000 usd in mini .1 , and 10k -1lot in a standard acct. Now I know what you mean sure, but for folks not familiar with this they would assume that to be the minimum acct size. That's how it reads. Save people who aren't familiar with RAS by posting min acct size and a link to the correct acct you are referencing. It will save the newbs money and hard feelings towards you. Cheers.
Todd,
1.The MT4 stats is to the RAS trading account. No idea what is unclear, even the account name is clear
2.I have also a problem understanding your point about lotsize. RAS EA duplicates lotsizes not tradesize. That means, if you are trading the correct account, your lotsize is the smallest possible.
a.) Standard accounts use 1 Lot= 100 000 Currency units
0.01 lotsize is 1000 CU
Possible mistake: Your broker allows only 0.1 lotsize as minimum and you do not know, than you are overleveraged by factor 10.
My question than: How can anyone trade live money not knowing that!
Now you can easily adjust your lotsize to your account type and account balance by chosing the lotsize factor in RAS EA.
Well, yes...........there is more than 1 possibility to make a mistake, but sorry i can not help that. It is part of trading.
Precondition:
You must know, what account type you are trading and what is the minimum lotsize allowed by your broker .
I believe, that this is not asking too much, since it takes 2 clicks in MT4 to find that out.
If you are really unsure about all this, you have a 7 day trail to test and experiment with the correct settings on a Demo account.
If that is too much to ask from a potential subscriber, i can not help and suggest to refrain from trading, sorry.
It is the subscribers responsibility to chose the correct trade leverage, not the system vendors.
All my systems use a very low trade leverage by design and that is my recommendation, but a subscriber must be able to read and have a basic knowledge about trading and more important :
Put the correct numbers into the stats function of the RAS webpage and RAS EA.
A system vendor can not babysit every single subscriber.
And again:
Counting Drawdown or Profits in pips is absolut nonsense!
This is a misleading calculation in the first place and i tried many times to point that out.
Proper money management is a function of tradesize versus account size(equity) and at least in my trading plan returns are measured in % of equity and not in pips or points.
Very last possibilty:
If in doubt, ask the system vendor by Email or PM.
I am well known, so is our whole group, to answer direct Emails within minutes or hours.
Neither i nor my partners are screening the net to search for potential questions, we do indeed trade real money every day(and Todd, you know that from FXAW forum!)
We have also taken care of that problem by opening our own website shortly, where anybody can adress questions.
Janus
Martin I've said a number of times I know the deal. I didnt have a problem with your signal.
I'm trying to help you to make it more clear for newbs so I don't have to hear about the margined accts from the people I heard the complaints from today.
You read this site, yes a certain amount of babysitting is required. Although customer support would have been a less derogatory term for people paying you.