What strategy/system

CottyFX

Newbie
Messages
2
Likes
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?

 
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.
 
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!
 
Top