Dear all,
This is my first appearance in this forum so I hope this is the correct place to put my question. If not, please accept my apologizes in advance and let me know where should I do it.
I would like to know if there are any SERIOUS sites in which real result comparisons of forex/binary options investments are offered. I’m thinking about managed accounts, EAs, trading signals, etc. results with real accounts. I can find tens of sites dedicated to EA comparisons, but many of their results are on demo accounts and/or their real accounts are not reliable IMHO. On the other hand I can’t find a single site comparing managed accounts or signal services (manual and automatic).
Could someone please help me? Thank you very much in advance.
Not sure of one who does that. I think many of those providers don’t want their BS performance to be compare to others BS performance. In my opinion I would stay away from them and trade my own funds, but hey we are all different. Just make sure you do your proper due diligence before forking your cash over to a manager and make sure the trading style matches your risk profile. Then go with the minimum investment and get your feet wet. You can take further steps from there.
Thank you for your quick response. And please excuse my ignorance, but what does “BS” mean?
I think it means " Business". In my opinion
EAs: I don’t believe in commercial EAs that sell for $99 and claim to produce percentage returns of 2 or 3 digits every month consistently. Nothing of this sort exists. Just understand that if such an EA actually exists and can create a vast amount of wealth effortlessly, then it would have an intrinsic value of about infinity, means it should be priceless. Any noncomeracial EA with an aura of mystery with regard to its strategy, and claiming consistent returns need not really be looking for small investors… Please think on these lines. Any EA used to generate consistent returns is in need of being fidgeted continuously by human discretion, and is best understood and adjusted by the programmer who actually designed it.
Signal Providers: Main issue of fx trading is psychology and risk management, not price prediction and signals. You can blow up ur account even if you execute 10 correct signals , believe me. All depends on ur risk , volume, how you react to any unfavourable price movement as your “correct” trade runs (do u get scared and shut the trade? Do you widen your sl from proposed level, do you increase your risk? ) For this reason following signal never works if ur mind is not disciplined and if you don’t understand the importance of the discipline
Managed Account Companies: 99% pyramid schemes and scammers. In my experience, one should not go for a managed account company with a licence from any other place other than USA or UK. That’s Rule no 1. Rule no 2 for checking scammers is that they guarantee your capital, they guarantee monthly returns, they post very low drawdowns with very high return, they have requirements regarding tying up your capital for a few more days or months. Also many show trading histories of demo accounts , or photoshop the histories, or cook them up altogether. Sometimes prices are actually missing from the trading statements altogether and only loss/profit is shown. Also, their fund managers/ traders exhibit lack of market knowledge or trading strategy. Rather they are focused on aggressivr marketing tactics…sometimes they say that we don’t reveal who our traders are, and sometimes they say that we can’t show you your acount’s live trades because it’s a " proprietary software" that’s making all the money. In actuality, many just pass the new investors funds to the old investors as returns, and in the end the company either collapses or they run away with the investors money. I could write more …This is my sad experience … Please Google Annual returns of top earning hedge funds/ average monthly returns of active fund managers , read some research papers to get some idea of ROIs … thrn compare with what these companies are offering.
Sorry for such a morose answer.
Ps: the letters “BS” are not short for “Business” but, actually, “BullS*it” !!
Thank you for your detailed explanation. Extremelu useful. I will take it into account. :7: