#forex transparency

#forex transparency

Postby Paul » Sun Mar 29, 2015 5:50 pm

Transparency

Transparency (according to wiki) is defined as showing openness and accountability and operating in such a way that it is easy for others to see and understand what is gong on,
This could apply to anything in our day to day lives.
I feel that in FOREX trading you need to be transparent to yourself and if you are using a signal provider or mentor then they need to be totally transparent to you too.

So much of this is forgotten in trading, there are many trading websites out there that offer trading signals where you as the end recipient of these signals have absolutely no idea how they are being generated.

These websites offer nothing in the way of proven 3rd party verified results which is a massive tell.
a. the strategy isn’t being traded by its creator/ website owner.
b. the strategy doesn’t work at all.

If either of the above two statements are incorrect then I wonder why the owners of them don’t post proper results. Wouldn’t you want to shout about it if it was that good?

So you just blindly follow along, when all you have to go on is some sketchy statement or made up chart of (usually) fictitious results)

This kind of thing look familiar?



Looks great doesn’t it, however there is a good chance that what you see there is generated by an EA (Expert Advisor) and what you can’t see is the code behind what generated that lovely looking growth chart. 99.99% of the time the EA's code is programmed to ignore bad time periods where all the bad trades are, so that when they run the "backtest" the resulting chart looks wonderful.

Our Results
Here at forex signal services , all our trades are audited through myfxbook per strategy and overall (the cumulative results) 99% of the trades are done using pending orders and in most cases this offers plenty of time to get the trade on your platform.

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In addition we actually release to you the strategies we use in downloadable MT4 templates and give you the training required to actually use them. So you actually know why a trade has been placed.

Another fallacy is the taking of large amounts of trades. A lot of new traders think that they have to be constantly doing battle with the markets. We have a set trading routine which starts around 7:30 AM Europe time. If there are no trades then there are no trades, we don’t try and force it. (In fact our strategies prevent this)
Paul
 
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