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#1
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When you want to invest in forex traders, they must show you their verified statements for a longer period right?
But how do you know he\she isn't scammer, and his\her system working NORMAL? So here are my version, please if you can add-in your experience, or you have any type of experience about junk systems, or money managing. -Accept the only REAL-money statements. -Accept it from only honest, popular broker. (Dukascopy, Oanda, FXCM, FXDD, Alpari, etc.) If the platform is MetaTrader, ask for investor password, and broker statement. If the platform is not MT, ask for only the broker statement which is verified by the broker. -Global Clearing Group, and some other scam brokers have an extreme-low feed, and some robots use out this. Combinating with a fast-feed broker "they will see the future". Thats why you can see in some scam brokers the spread 0,5 or 1pip \ most of pairs. I can guarantee no honest broker will work under 1 pip for example AUDJPY, EURNZD, etc. i mean the exotic pairs. -Statements can be cheated. Don't trust in mt4i.com or mt4stats.com, etc. Although MyFxBook.com have its own verification system, so the systems which have verificated on there there is much lesser odd on that the statement is not REAL. -Don't trust those system which have around 200pips gain, and this 200pips gain +500%. It means his risk was enormous, and overleveraged. Risking and gambling are two seperated things. -Drawdown! It depends on the winnings, if a system have around 100% gain, and the drawdown is less than 5%, we can say its a really good system if the pips-gain rate and if the account traded more than 6 months. But in my opinion if the drawdown less than 10-15%, its still a good-working system. -Don't trust those system which have enormous winnings, for example 1000% or more in a really short period of time. 1000% gain is possible, but not in only a half- or one year. I think its take more than 4-5 years, but it depends on much things. -Don't conclude anything from systems traded less than 6 months. Even if the system losing, or winning, less than 6 months is not enough time to ensure about a system profitable. -The more the money traded, the more stability. It's not the same when somebody show up a statement with 100$ deposit, or show up a statement with 1000$. Trust 100$ accounts ONLY if he didn't take up enormous risks per position. I say again its not the same when somebody using 1:100 leverage on a 100$ account, or using 1:100 leverage on a 1000$ acount. That makes the difference. Any critic welcomed. |
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#2
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i never tought of asking for the investor password and a broker statement!!!
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allchatz.forumstopic.com |
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#3
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Quote:
When its about your money you have to do EVERYTHING about the safety of your funds. Would you give your money for a trader who JUST saying "I'm profitable"? I don't think so. Same thing when choosing broker. Try to choose the most suitable choice. |
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