Hello All!
I am new to this site AND new to Forex Trading. I didn't know where to start, and this thread looked interesting. I was hoping to get a few opinions. I already looked around the site and read reviews of the brokers and EA's. But I am open-minded to reading any suggested posts that you recommend.
Here's where I stand. I recently opened an account at MB Trading and subscribed to a "Copy Service". This Copy Service is not listed on your site. It's called CopyOurTrades.com (COT). They suggested that I open an account at Tradersway.com, because they allow hedging, which is part of COT's trading strategy. I have been hesitant to open an account at Tradersway.com because they are in an unregulated country, and they got some pretty bad reviews. But they also got some good reviews on here, and FPA accepts advertising from them. I figured that FPA wouldn't advertise a scam. So I was wondering if any of you think that an investor's funds be at risk of being stolen at Tradersway? Or at how about the risk from undo manipulation by the site. I know some sites don't play fair. What do you think? What is your favorite Forex broker (and do they hedge)? I am in the USA.
I have a second reason for joining this thread. Under the performance tab, there are a variety of EA's compared. The top performers are not reviewed. But there are a couple of EA's with good reviews that have been earning over 8% a week for 3-4 months. If you can earn that type of return, why bother learning to trade? Why not just use a EA and double your money every two months? When I looked on ForexSignals.com, they said, "Best trader in the past 30 days 3.86%". From that perspective, it looks like the EA's have manual trading beat hands down! Also, are the unreviewed EA's really earning over 8% a month? Is their performance monitored by a third party, or by FPA Admin?
I'm looking for a little guidance on how to start. I'd prefer to just set up a few EA's at different brokerages, and create a little Forex "Mutual Fund". Are any of you doing that? If so, any suggestions would be appreciated. Thank you for your response.
FPA looks like a great site providing good information. Glad to be aboard.
NewbBoob a.k.a. Ted
