Stop Trusting Performance Sites

[Rambo35]

I don't know how many threads have been started where new traders wonder how it is possible to have x% return that is just ridiculously high. Of course the performance is displayed at third party performance sites and is filled with data where x-strategy has yielded over 1,000% or even higher over a given period of time.

My advice to all new traders is to forget those sites and stop trusting them. So many newbies treat those sites as if they are valid. Stop trusting the performances which are listed there. As a matter of fact stop looking at what others make or claim to make and focus on what you can achieve.

 

[Pharaoh]

So many of those sites are easy to manipulate. Traders can select a start date - because that's when they supposedly started trading the new system. Of course, if the performance looks like a set of wild zigzags, just start at the deepest recent valley and suddenly the system looks very profitable.

This is why you want to see the account from initial deposit to most recent trade - and also either see open trades or total floating P/L.

 

[Whitesnake]

True, it would be more helpful for the traders if they can focus on their trading style so that they can be able to develop a trading system which can bring them consistent profits over a long period of time.

 

[willforex]

I don't know how many threads have been started where new traders wonder how it is possible to have x% return that is just ridiculously high. Of course the performance is displayed at third party performance sites and is filled with data where x-strategy has yielded over 1,000% or even higher over a given period of time.

My advice to all new traders is to forget those sites and stop trusting them. So many newbies treat those sites as if they are valid. Stop trusting the performances which are listed there. As a matter of fact stop looking at what others make or claim to make and focus on what you can achieve.

Good advice Rambo. Totally agree here. I never trust such kind of performance sites