The 50k demo account has now been running for 17 days and is, as I type, currently standing at $43.6k, a loss of $6.4k or in other words a drawdown of 12.8%.
The main culprit has been SL25 who has managed to place nine trades for a loss of 365 pips, this Signal Provider also has two open positions, one a buy on the EurJPY showing -45 pips to date (opened 18/3) and another a buy on EurUSD currently at -334 pips opened on the same day as the aforementioned trade. I am finding it hard to believe that a Signal Provider that, from looking at their History folder, targets relatively small numbers of pips (generally 10 to 25 pips), would knowingly allow such large moves against open positions and thus unfathomaable risk/reward trades. Taking a glance at SL25’s open positions for all trades, not just the two maximum that I have allowed them on this account, seems to suggest that the Signal Provider does permit large swings against the position and just holds onto them until they (hopefully) swing back into profit. The high winning trade percentage of 89% would seem to suggest that this is this particular Signal Providers strategy although one should expect large drawdowns.
If this style of trading suit’s you then all well and good, but personally I can’t help feeling that there is a distinct lack of both control (of the trade) and strict money management being applied in this instance.
Big Money 7 has only shown up as placing two trades on the account and total 119 pips profit to date.
And though The Hunter has placed a few trades since I added them to my portfolio, none of his trades have shown up on my account. This Signal Provider is being shown as being around 980 pips in profit so far targeting small gains and keeping tighter control of their trades.