I see lots of folk struggling to make a crust trading in the retail FX industry, struggling for years to take anything out of the market. Anyhow, I recently came across a guy who, rather than put effort into: learning how to trade, learning how to code MQL4, backtesting, forward testing, various strats for years, whilst holding down a full time job etc, had developed an algo to scrape info. from many leading copy sites, to then spread his risk across several of the board leaders, or traders wth exceptional returns versus risk/drawdown.
He also correlated it with other software he’d developed; which scrapes information and takes sentiment readings from social media ‘sites’ (Twitter, Facebook) and sentiment readings from trading forums. He reckons he was making an ok return, 35% p.a. on a six figure account.
Got me thinking as to why why so many guys here persevere with the torture of trying to learn how to trade (whatever that means in the retail market place) and don’t just copy the board leaders? Now obviously I’d be looking for guys who have negligible drawdowns, risk a small percentage of their account per trade, aim for realistic returns etc. but there’s many ways of you guys balancing your exposure.
I also began to think of the next generation of short attention span retail traders, let’s call them the App generation, surely they’re not going to go through the pains of learning how to trade, spend thousand of hours staring at charts? Look at how they’ve speculated on BTC etc.
Now I've read various opinions that e-toro, Zulu, Collective2 etc are not what they seem, “you get ripped off for spreads when you copy trade into their service, the sites are chokka full of fraudsters desperate to get to the top of the greasy pole by whatever means, the drawdowns are eye watering, there’s several Asian guys who have hundreds of profiles, running hundreds of strats on there”, etc, etc,
Be interested in any opinion, not an area I’ve paid much attention to. TIA.
He also correlated it with other software he’d developed; which scrapes information and takes sentiment readings from social media ‘sites’ (Twitter, Facebook) and sentiment readings from trading forums. He reckons he was making an ok return, 35% p.a. on a six figure account.
Got me thinking as to why why so many guys here persevere with the torture of trying to learn how to trade (whatever that means in the retail market place) and don’t just copy the board leaders? Now obviously I’d be looking for guys who have negligible drawdowns, risk a small percentage of their account per trade, aim for realistic returns etc. but there’s many ways of you guys balancing your exposure.
I also began to think of the next generation of short attention span retail traders, let’s call them the App generation, surely they’re not going to go through the pains of learning how to trade, spend thousand of hours staring at charts? Look at how they’ve speculated on BTC etc.
Now I've read various opinions that e-toro, Zulu, Collective2 etc are not what they seem, “you get ripped off for spreads when you copy trade into their service, the sites are chokka full of fraudsters desperate to get to the top of the greasy pole by whatever means, the drawdowns are eye watering, there’s several Asian guys who have hundreds of profiles, running hundreds of strats on there”, etc, etc,
Be interested in any opinion, not an area I’ve paid much attention to. TIA.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..