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One trader at another Signal Provider using + 1000 pips Stop Losses has 20,587 followers of which 3,252 copies his trades automatically. He is showing a 145% profit over the past 6 months. So is there perhaps a way to profit from these high risk systems and make good profits with acceptable risk?The first thing to realize is that the percentage win ratio by itself is not a reliable guideline for making a profit. Let us take for example a system with 96% win ratio with a Stop Loss of 1000 pips, a Profit Take of 15 pips, a lot size of one standard lot, and a maximum of only one trade open at a time. This gives you a net loss of $1,600. So in spite of having a win ratio of 96% you can still be in danger of a net loss. Furthermore, the higher the win ratio is the more risk there normally is in the strategy. So we will have to look wider for dependable guidelines to profit from these high risk – high profit systems. The first priority is to ensure that your account will be able to cater for the high draw downs and losses that can be expected. There are two ways to do this:But when you are reasonably safe from most foreseeable draw downs and losses you find that your return on investment ROI has dropped to a low percentage and the high %profits that you expected to make, requires too high an investment or otherwise very low profits per transaction. Suddenly you realize that with limited equity you can have the same ROI with a system with a much lower win ratio, but also has a much lower draw down and smaller Stop Losses, and therefore much less risk.
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There are experienced traders who make money by trading against the trend, but let’s learn to crawl before we can do a sprint!Time really is money when it comes to trading forex, so you will need to be fully prepared to understand your trading plan’s signals and execute them quickly when they arise.
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Before you start jumping in you should familiarize themselves with the market and terminology of the forex market, and if you've already been trading stocks online it should be easy to get started.
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