Hi All,
I'm a newbie here and have no FX trading experience (I do have previous futures and options trading experience, a long time ago now).
I want to learn and discover strategies that work for me (I don't even currently have an account anywhere, I'm not going to open one until I have investigated what strategies are being used that I can potentially back/forward test).
Anyway after getting my account verified I went to the strategies tab and looked at some of the results graphs (Metadata EA) and couldn't really understand some of the figures and why some of the strategies seem to be having consistantly small positive gains (which look amazing) followed by a massive loss in a single trade(as if there was no kind of risk management/stop loss being used). Was there a market event for example that would have blown out any in place stop losses or is there something very odd going on with these expert advisers?
1. Fxear. Brilliant run of winning trades (I would have been all over using that as an advising tool) but consistently small wins. Then trade #94 balance is 1233.73 drops down to 533.06 (how does that happen?)
2. Similar thing for FxPro Dragon
Single trade wipes out nearly 50% of gains (are stop losses not being used or were ineffective?)
3. From1toMillion
This graph looks great at the moment but I don't understand the average pips per week number is -6452 but the average P/L per week is +34.16% What is the -6452 number about (doesn't this mean that it should be losing and not winning?)
Sorry for my stupid questions (there will probably be lots more).
I will read through the Beginners bootcamp forum suggested reading materials but I couldn't help looking at the strategies section to start off with.
Any clarification would be helpful.
Thanks,
I'm a newbie here and have no FX trading experience (I do have previous futures and options trading experience, a long time ago now).
I want to learn and discover strategies that work for me (I don't even currently have an account anywhere, I'm not going to open one until I have investigated what strategies are being used that I can potentially back/forward test).
Anyway after getting my account verified I went to the strategies tab and looked at some of the results graphs (Metadata EA) and couldn't really understand some of the figures and why some of the strategies seem to be having consistantly small positive gains (which look amazing) followed by a massive loss in a single trade(as if there was no kind of risk management/stop loss being used). Was there a market event for example that would have blown out any in place stop losses or is there something very odd going on with these expert advisers?
1. Fxear. Brilliant run of winning trades (I would have been all over using that as an advising tool) but consistently small wins. Then trade #94 balance is 1233.73 drops down to 533.06 (how does that happen?)
2. Similar thing for FxPro Dragon
Single trade wipes out nearly 50% of gains (are stop losses not being used or were ineffective?)
3. From1toMillion
This graph looks great at the moment but I don't understand the average pips per week number is -6452 but the average P/L per week is +34.16% What is the -6452 number about (doesn't this mean that it should be losing and not winning?)
Sorry for my stupid questions (there will probably be lots more).
I will read through the Beginners bootcamp forum suggested reading materials but I couldn't help looking at the strategies section to start off with.
Any clarification would be helpful.
Thanks,