ways to certify traders performance

Stainnekker

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Recently i have got to know a HFT trader that showed me outstanding performance of his strategies.
I see that some traders upload their trades to websites like myfxbook
is there other way to verify that the trades he claim are genuine?

The minimum deposit for this money manager is 10000 USD, so I appreciate your advice. Thanks
 
Hello Stainnekker

First we need to understand how a High-frequency trading (HFT) trader operates:

They trade short-term positions at high volumes hoping to capture a fraction of a cent in profit on every trade.

So now we need to know the right broker who will "genuinely" accept trading like this.

Once we fully understand the dangers of letting someone else trade with any amount of money, let alone $10,000, we then can less worry about the methods he/she uses to "demonstrate" their skills.

As for "myfxbook" there is "account manager's" who manipulate their accounts by using the "settings" from within the website.

Example:

If you look closely at a "said" members "system" you might notice one or more "hidden" facts behind "Locked" doors, this alone should ring alarm bells.

No use waiting to after you invest in such ventures to only find out that you have been eaten up by a "big fat cat" :rolleyes::D

Good luck
Liz
 
be much carefull with money manager, there's alot of scam money manager out there, all you have to find is the honest one. even with not to much in profit, but as long as it's stable one and at low drawdown. HFT trade been a hot issued among expert traders, many friend recomended such, and i do interested to develop one. on how to define any trading performance are good, better take a closer look on his trading result. first of all, HFT wouldnt works on metatrader platform, why?? there's no way metatrader allow exit trader for average 1 sec, oftenly below 1 nearly 0! because metatrader are 3rd bridge platform, so when he shown result on mt4 platform, stay away.
hft would applied on ctrader mostly, i found also at ninja platform. but there's thing you need check then, the brokers used! some manager are partnering with spesific brokers (oftenly new one), and giving an astonishing performance using thus brokers platform. simply is they semi-manipulated the performance, for example set up a no delay execution for thus account only. but that's not gonna applied on your incoming account. they just try lure clients to open account. so what's the advantage for the manager working such way, with those brokers, by having an issued of bad reputation ??
on off record case, perhaps only a rumours, the manager would gain amount % from clients account loss. for example minimum 10k usd, and then account are totally loss, the managers would get 40% for amount 4k usd from that single losing account.
it's just my opinion from many source, i dont intend you to take my advice, or become paranoid.
but i'm here to made you more cautious, fully aware, well prepare. that's all.
 
FORGET ABOUT PERFORMANCE RECORD! IT IS DESIGNED TO MISLEAD AND DEFRAUD YOU.
I would like to advise you to forget about the so called performance record. Those who want to take your money will always be cleverer than you are. A lot of fraud goes on , especially on the internet targeting people who want to make quick money in forex trading. There is no way to make quick money in forex trading. You must be ready to learn and evolve your own trading strategy, because it is a life time thing.There is nobody who can help you for life.Those who claim they are professionals, and want you to pay them for one service or the other, cannot even trade forex to make a living. They are charlatans, looking for their next prey.I am talking from personal experience and I have been in forex business for seven years. I have just finished my research work and to continue the last phase, learning on the job.You can do the same and become better than those who like to dupe you now. Do not believe anything from them.I will trade forex for myself and for myself only.So,if I make enough money trading forex, why should I charge the same people I am trying to help?
Does it make any sense? When I became a member of Forexpeacearmy in 2007, I did not pay any money to learn a lot from the resources available to us on the website. It was here I learnt that we were been duped by 'bucket shop' forex brokers, but the harm has already been done and the saving grace was that the knowledge prevented us from falling prey to more 'market makers' forex brokers. So, BEWARE!
 
MyFxBook is quite reliable source for tracking trader performance. Just make sure that it is fully verified by MyFxbook (investor password is given, test trades made) and you can safely bank on it. But the point is to learn techniques of how to estimate future results of a trader based on the open source data you have - style of trading (aggressive, conservative), absolute and relative gains and losses, profit factors, period of drawdowns and the way of how trader gets out of losses (psychological factors). I don't use Myfxbook for looking out that information, cuz Hotforex PAMM system offers its own exhaustive stats and showings to get a profit picture over there. This is an example: bit.ly
 
MyFxBook allows a LOT of information to be made private.

I want to see the real information - from initial deposit to the most recently closed trade along with a sum of any floating P/L. That's what FPA Performance Testing does.
 
Recently i have got to know a HFT trader that showed me outstanding performance of his strategies.
I see that some traders upload their trades to websites like myfxbook
is there other way to verify that the trades he claim are genuine?

The minimum deposit for this money manager is 10000 USD, so I appreciate your advice. Thanks
ask him for trading account's investor password. monitored it for 2-3 months before make decision. you can also share those password privately with your trusted expert trader, it's a 10k minimum deposit business, take it seriously.
i will gladly assist you if you finally got investor password, and give my thought about the perfomance.
 
Not every company wants to share the password with potential clients. This would allow those clients to copy the trades as they are placed.

This is where FPA Performance Testing comes in. Open and pending trades can be covered to prevent anyone from copying the trades as they are placed, but any floating profit or loss is displayed. The full history trades are displayed. No filtering is possible. You can also see if the trader uses hard stops or not.
 
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