What strategy/system

CottyFX

Newbie
2 0
Hi,
I'm new to the forum and I'm looking for a scalping strategy and I ran across this one. Does anyone know what strategy or system is being used in this video?

 

tomorton

Legendary member
8,170 1,238
This seems to be from Never Lose Forex FX. They have a website and a YouTube channel. They have an address in London. They sell signals so I don't expect they ever publish much detail about their strategies.

Let's look at just one of his trades shown as an example. If you look at his 14:40:07 trade, this was a sell at 107.979, on USD/JPY of course. This was closed at 14:53:36 at 107.978, which is of course 0.1 pips lower than entry. This allegedly brought in a net profit of £92.61p. This represents a position size equivalent to about £1000 per pip.

Firstly, who can afford to trade a legitimate account with real capital at £1000 / pip on USD/JPY and settles for a 0.1 pip gain.

Secondly, none of the trades recorded has a stop-loss. Well, that also suggests this is not a real account - he doesn't need to set a stop-loss as there's no real money at risk.

Thirdly, this 14:40:07 trade shows no spread. This suggests its a fake account - in my experience even demo accounts show spread and these must be deducted from gains. The typical spread on USD/JPY might be just under a pip. The quotes at top left also show no spread - again suggesting this is not a demo or live account, but a fake of some kind.

Fourthly, I never trust signals vendors.

Fifthly, I never trust trading "experts" who cover their YouTube channel with pictures of expensive cars and wads of banknotes.
 

CottyFX

Newbie
2 0
This seems to be from Never Lose Forex FX. They have a website and a YouTube channel. They have an address in London. They sell signals so I don't expect they ever publish much detail about their strategies.

Let's look at just one of his trades shown as an example. If you look at his 14:40:07 trade, this was a sell at 107.979, on USD/JPY of course. This was closed at 14:53:36 at 107.978, which is of course 0.1 pips lower than entry. This allegedly brought in a net profit of £92.61p. This represents a position size equivalent to about £1000 per pip.

Firstly, who can afford to trade a legitimate account with real capital at £1000 / pip on USD/JPY and settles for a 0.1 pip gain.

Secondly, none of the trades recorded has a stop-loss. Well, that also suggests this is not a real account - he doesn't need to set a stop-loss as there's no real money at risk.

Thirdly, this 14:40:07 trade shows no spread. This suggests its a fake account - in my experience even demo accounts show spread and these must be deducted from gains. The typical spread on USD/JPY might be just under a pip. The quotes at top left also show no spread - again suggesting this is not a demo or live account, but a fake of some kind.

Fourthly, I never trust signals vendors.

Fifthly, I never trust trading "experts" who cover their YouTube channel with pictures of expensive cars and wads of banknotes.
Hi tomorton,
Thanks for your feedback I really appreciate it!
 
 
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