The returns are high but so is the experience level: https://www.mql5.com/en/forum/179446
90% scalping trades and 10% other.
Simple Andrews Pitchfork trading
a) We focus on the majors with GBPUSD being the main pair traded;
b) Stop-loss 3 to 10 pips. Seeking return to risk trades of 2x to 10x;
c) Soft (virtual) and hard stops used. The choice depends on the market opportunity presented. Soft stops covered with hard stop within 15 minutes of trade placement. All positions will have a hard stop when subscriptions begin;
d) Stop-loss moved to break-even plus 1 pip after price has developed
in the profit area;
e) Positions are not held overnight;
f) Normal trading hours from 6 GMT to 17:00 GMT; occasionally, the trading finish time maybe extended;
g) Targeting average gains of 5% to 15% a week;
h) No stress intraday trading;
i) MQL5 fast VPS recommended.
How to subscribe to a signal?
How to rent VPS?
To maximise profits and reduce slippage you can request to have your account located on my VPS. You will still be required to have a MQL5 subscription and an admin charge will be applicable plus a small performance related percentage.
To protect my trading psychology:
1. I will reply to direct messages at the weekend;
2. The trading deposit will be kept small and deposit load will be high; I use a trade copier to post to the main account. To see a growing balance affects my trading decisions;
3. I will read comments at the end of each month and write a general response in the news.
The above points aim to ensure my trading decisions, and therefore profits, are not negatively influenced. However, I'll write a running commentary of most trade decisions.
Position Sizing Policy
The signal is open to the public so a strict position sizing policy needs to be specified.
From 26/05/19 the MAXIMUM position size at anytime is 1 lot per $5000 balance, 0.1 lot per $500 that is 0.01 lot per $50; the TOTAL position size will not exceed these limits however the total position size may be built from smaller positions.
Thus, an account balance of $200 will allow a total position size of 0.04 lot; this maybe built from 4 smaller trades (if scaling in) of 0.01 lot per trade.
This threshold will be fully respected moving forward.
Please consider splitting trading capital into three parts. Deposit these parts into three trading accounts:
1. Low risk (50% of capital) - 95% signal copy allocation
2. Medium risk (30% of capital) - 0.65% per trade with a 10 pip SL (maximum of 4 trades per position means 2.6% per position)
- Transfer 20% of profits from 2. to 1. at the end of each week.
3. High risk (20% of capital) - 1.25% per trade with a 10 pip SL (maximum of 4 trades per position means 5% per position)
- Transfer 80% of profits from 3. to 1. at the end of each week.
Use a very popular free trade copier to send trades from one account to the others and to set money management options. Contact me if you are unable to locate the free trade copier.
All trades are manual. ICMarkets mini-terminal is used for partial closes, this is showing on the statistics as an algo' trade.
Whenever we are in the market, I am sat in front of the PC monitor manually managing the trade.
Although the stop-losses may seem small to many, the only rational reason for a trader to sit and manually trade is to watch the development of dynamic support and resistance so low risk high precision entries can be made. Such things can not be programmed in a EA.
Customer and trader incentives:
The maximum price of subscription is $199 and the minimum is $30
The maximum subscription increase is limited to $5 per month;
Subscription increase condition is based on hitting the minimum monthly target of 20%;
Subscription decrease condition is based on missing the minimum monthly target of 20%;
I just had someone tell me the deposit load is the same as draw-down! Even worse this trader offers a signal!!
Listen, if you do not intend to use most of your deposit in your broker account for trading, withdraw what is not being used and put it into a bank account; it is much safer that way. Why have a $1000, $10000 or more trading account if you're only ever going to use a fraction of it to place trades? This makes no sense, it economically irrational and the unused funds should be taken out of the broker's responsibility and put into (at least) a high-interest cash account. You can always top up the broker account if necessary.
For me, a high deposit load shows efficient use of funds if supported by the necessary performance statistics. Assessing deposit load in isolation is genuine nonsense.
Deposited funds should equal a given multiple (say 2 to 3) of the maximum expected draw-down subject to margin and leverage requirements and constraints.