In forex, leverages granted by brokers are much higher than in futures. It only takes a 1% move in forex to close a profitable day... or wipe out your account. Retracement is adding to a losing trade, which I do not recommend unless a system shows long-term profitability using retracement. So far, this one does not do so in real time.
Anyone using pipslayers.com?
- Thread starter GermanTrader
- Start date
In forex, leverages granted by brokers are much higher than in futures. It only takes a 1% move in forex to close a profitable day... or wipe out your account. Retracement is adding to a losing trade, which I do not recommend unless a system shows long-term profitability using retracement. So far, this one does not do so in real time.
Quote from Casey30:
What's "Retrafement?"
Some new technical term?
Not everyone on ET is Western, ya know.
Update on pipslayers...
Their website does not post the last two weeks of trades, and given that the two signals received from them bombed out, it might be true that the new price action does not work with their system.
Half the traders I know are not profitable under the new price action (whipsaw, wider stops, etc), so the weeks that follow this bailout (cough, gag, puke, fart) will tell if the old price action returns, or if new systems are needed to be profitable. Look for a slew of new systems promoted on ET. They can claim new since the new price action isn't even one month old yet. Hold onto your wallets.
Their website does not post the last two weeks of trades, and given that the two signals received from them bombed out, it might be true that the new price action does not work with their system.
Half the traders I know are not profitable under the new price action (whipsaw, wider stops, etc), so the weeks that follow this bailout (cough, gag, puke, fart) will tell if the old price action returns, or if new systems are needed to be profitable. Look for a slew of new systems promoted on ET. They can claim new since the new price action isn't even one month old yet. Hold onto your wallets.
GT hi, new price action? Price can only go up down or sideways
The Ever Emotionless VIPER
The Ever Emotionless VIPER
Quote from TradeViper:GT hi, new price action? Price can only go up down or sideways
Hello TV, yes, the new price action... the invention of the VIX nearing all-time highs.
OK, I have completed my evaluation of pipslayers after a week of signals. In summary, he's honest enough, but he doesn't keep up his performance page for anyone to verify his recent signals, which are of particular interest to me in this new price action. So, the results I got from his signals were poor. I lost (paper) money taking his signals. So I cancelled the trial. Maybe by Thanksgiving he will post his trades for the rest of September through October, but I will not be commenting further on pipslayers.com unless I run into a problem that needs public airing.
Honest but unprofitable, at least right now. Might give him another try, when the VIX is back in normal range.