I am currently in search of reliable signal providers which trade something other then the GBPJPY. Most of the top providers trade the GBPJPY, and I would like to have a dicverse portfolio to reduce my risk.
I have a desire to already change maximum open lots to two but with two GBPJPY trades I could potentialy be blown away with just over $1000 equity. If I were to add a non GBPJPY provider I would have to deactivate tow out of my current three GBPJPY trades; FxMarkets, Scalpers group or GBP$. which one? Or should I still leave it at maximum one open lot? Your thoughts are welcome.
I have an eye on Aradi forex as my non GBPJPY provider. The only problem is he is fairly new, been trading for just 4 weeks with 123 trades, but his records show minimum DD, less the 500 pips, and his three loosing trades are acceptable losses; 20-30 pips.
GuruFx, trades only EURUSD, is even younger, has also smaller trades averaging only 19 pips but are shorter on avergae, only 2.2 hours, then Aradi forex. Browsing through his trades I cant see any loosers but zulutrade gives him 38 out of 39 winners, dont know why.
How long should I give them till I use them?
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Hello!
ReplyDeleteI currently test live HomerPoet which trade EUR/USD, I'm getting good results so far, he uses small take profit and generally has fairly small lows (thus small DD). I've analyzed the SL effect on him for the last 90 days and its quite promising for a non GBP/JPY trader. I think you made a very important remark in increasing the risk when using only one pair (and which is worst is opening many concurrent positions) in case where the pair would make a sharp adverse move! Personally, I don't use providers with less than 50-75 closed positions and/or 1 month or so of history since there is so many nobodies out there promising you results... We have to be careful ;)
Oh, a small request: are you able to add an RSS feed to your blog ? That would be a nice upgrade to catch your new posts :D
Scott
I have mentioned Homer Poet earlier in my posts. His SLs were quite big :-(
ReplyDeleteI added a RSS gadget, I hope this is what you wanted. Let me know.