Thanks for viewing my Signal Steps review page. This product claims to have a 93% win rate so we'll be testing for 8 weeks to see if it lives up to those claims. Below you will find the myfxbook stats and the intro video.
*6/2/17 Update- This system has failed testing*
The main points you should know right now:
- 2 Years verified stats
- No actors, no movies, real presentation
- 2 to 7 trades on average per day
- Trades the US and European Sessions
- Focuses on the EUR/USD, GBP/USD and EUR/GBP
- Built in Trade Management
- Claims a 93% win rate
As always i'll be doing my weekly update reviews each Friday until testing has finished. Dont forget to visit empireambition.com to watch the daily updates on the review page. If you have any questions dont hesitate to send them my way.
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15% drawdown on your open trades in the first week is not insignificant.
ReplyDeletei spoke on that in the first weekly review. My risk setting is too high. After looking at the vendors myfxbook he's trading with a .10 lot size and mine is set to .30 so hopefully i can adjust that next week.
DeleteMost professional traders take 30-50% drawdowns. 15% drawdown is nothing as long as you have complete faith and trust in your system because it has been backtested and tested live in forward data for a few years.
ReplyDeleteI have a personal robot of my own and backtesting it all the way back to the beginning of the FX market only gives me a max drawdown of 49% IF I want to trade a max lot trade size to make 100% plus per year. I may see a 20% or 30% drawdown but I know my system will work back up because I have trust in it and know it works and I already know what the max drawdown is that I won't accept (50%). Buffet himself even says you're not a serious investor if you can't handle a 50% drawdown. He often has or does as well as some of the most successful traders and investors.
The only problem many scam systems don't do is enough time forward testing live and then they'll blame backtesting for not working. But in reality, backtesting does work and it isn't the problem when down right. The problem is many of the robots that don't work are only backtested for a few recent years and not for the entire life of the FX market and then even further, they will trade it live for a short time where there hasn't been enough live sample sizes from forward love data so then they'll say "look, our system makes 500% in a few months or whatever." But the problem is, they may need a sample size of forward live data worth at least a few thousand trades so then people buy the robot and do well but then a few months or a year or so later their account gets blown up. A dayteading robot should ideally have a couple years of live data for true evidence that it works. If it hasn't traded at least 2-3 years proditibally then it can't be trusted very much. What also interests me about the signal steps system is its be only commercial robot I have seen so far that has live forward trading data for at least two years.