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    Thread: How To Identify Reliable PAMM Trader

    1. #1 Collapse Post
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      Default How To Identify Reliable PAMM Trader

      What I have realized while browsing this forum is that there are many PAMM traders promoting their PAMM accounts in different topics and threads. (just like me )

      What you see is that many of them are in profit in the time of topic launch, but when you come to that topic couple of weeks or months later, you can find many negative balances or wiped out accounts. (hopefuly, it will not happen to me )

      The thing is that many people is looking for good and reliable PAMM traders, so I decided to put some rules together that will help you indentify really reliable PAMM traders.

      Here they are:

      1) Overall profit
      This is a must. Look for those who are in profit

      2)Simple rating
      The higher number the better. However there are also reliable traders with lower rating because they do not have long history of their account. So do not overlook them. Also someone with high ranking can be sinking, if he changed his strategy or used some "good luck" strategy before and how his luck is gone.

      3) Number of trades
      Consider traderr results according to this. Someone with huge profit but only couple of trades may not be better than someone with lower overal profit but hundreds of trades

      4)Current and history investments
      Check these tabs to see if he made any profit for someone.

      5)Balance & Equity tab
      this can be missleading when he has big cashflow (invest money in and out)
      better see Profit Tab of his chart

      6)Profit tab
      Here you can see his real profit or loss. What you also should be looking for is balance (green line) vs equity (red line) see image

      If equity line is very down below balance line, that means this trader is having bid drawdown and can risk your money.
      If you place your mouse cursor over some point on green or red line, you will see balance profit and equity profit in %
      Some traders are having 40-60% drawdowns which is very risky.
      Their accounts are in overall profit, but when you check their profit chart you can see that they let losing trades run without stoploss and were just waiting to market reverse to take small profit. These drawdowns can wipe your account.
      So be aware of traders with equity line "valleys" as on picture above.
      Best traders are with red line close below green line or those who has peaks of equity line often above balance line and no valleys.

      7) Margin
      On the profit tab you can see blue columns showing margin used for trading.
      If it is high , it means trader opens many trades at the same time or use oversized lots. Both mean higher risk for you
      Some traders use 80% margin or more which can cause a margin call on their account and broker will close trades even they are in loss

      Well, I hope this helps you to choose right PAMM traders and make some money
      Invest with me


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      moneygrows (12-20-2012), Toxic (01-03-2013)

    3. #2 Collapse Post
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      Default How to identify reliable PAMM trader?

      it is difficult to identify a reliable PAMM trader. you check the history of any trader through internet or through any other means. if he is having constantly profit than he is good trader.


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      Quote Originally Posted by farjad     
      it is difficult to identify a reliable PAMM trader. you check the history of any trader through internet or through any other means. if he is having constantly profit than he is good trader.
      to have constant profit is not enough..there are traders who mae profit every month but with very wide stoploss and once huge counter trend happens they can lose everything in one trade. so to find reliable trader you have to also check his risk management and risk/reward ratio
      Invest with me


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      I think some of the rating may be misleading. I think you should look across . Not only long years of account or column but consistency across the board. A lower ranking , if you look carefully might even be better than the top raking . Be careful . It's you money here


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      The idea you shared through this thread to identify reliable PAMM trader is undoubtedly good. But it is difficult to identify a reliable PAMM trader for me as I am completely new with this PAMM, it may need some time to understand on it.


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      You must ask for previous history
      If available, ask for myfxbook

      if newbie opens PAMM, don't invest on him

      But, if he can prove that he has traded more than 3 years, and the winning ratio is good, invest on him


    8. The Following User Says Thank You to aya_brea For This Useful Post:

      standart (05-12-2020)

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      Quote Originally Posted by aya_brea     
      You must ask for previous history
      If available, ask for myfxbook

      if newbie opens PAMM, don't invest on him

      But, if he can prove that he has traded more than 3 years, and the winning ratio is good, invest on him
      I do trust with you little sist, indeed, when we are work as a retail trader, and do understand the risk, we won't say that put money to others, and let him or her to manage are easy. its something which require further prove and it shows how reliable you are. when he or she prove good result record, we can trust.


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