The account took quite a beating on Friday, giving up about 25% of equity in floating losses. Fridays can do that though. By the end of friday, the floating loss was only about 8% for me.
I also funded my FinFX account and started trading Greg’s system there so I can take advantage of hedging. It looks like greg likes to take two positions in one direction, and one in the opposite. Also, some of the lot sizes are way larger than usual (0.18 vs 0.02). As of today, the FinFX account is profitable with about $5 of profit.
I got an email from a website visitor (Will) saying that FXDD, a USA-based broker, has figured out a way around the crappy NFA rules. So apparently, you can use hedge trades with them. I don’t know the details of this, but if you need a broker that lets you hedge, you should probably check them out first before FinFX.
Greg opened up some positions that were many times larger than usual. That’s risky behavior. It’s the kind of thing people do when they’re gambling, losing, and hoping to get back in profit on the next bet. The problem is that increasing your bet size when losing can backfire. Guess what? It did.
The account took a mighty beating. My FinFX account, which started out at $970 is now down to $688. OUCH!
My Alpari US account, which started out at $525 is now at $873, so I’m still in profit, but I’ve given up a lot of it.
Take Home Lesson
Greg is handling risk like a drunken gambler. He does seem to have some good entry/exit signals, but with the way he trades, you’d better be able to handle very large down-draws. From now on, I’ll be trading fixed lots with a set stoploss.
Incoming search terms:
- gregs success signals
- greg\s success signals
- gregs success signals review
- greg\s success signals review
- greg success signals review