Today, we review a very interesting SP on our CopyPip platform. This SP has a max drawdown of 38% and an average of 10.55% returns per month. I would qualify this SP as a medium-returns SP.
What caught my eye was the descriptive explanation of their strategy on their profile. As you can read below, they even have a telegram group for you to interact with the traders and get more trading ideas. Do note that this SP only trades gold. You will get very useful information on their strategy and recommended account balance to use.
The SP mentioned in their description that they scalp their trades. As you would remember, we usually do not recommend SPs that scalp due to the commission charged by the CopyPip platform. However, the great news is that the CopyPip platform has reduced its commission charge from 0.7 pip to 0.35 pip now. Therefore, following a scalper might not be such a bad idea right now.
Next, we can have a look at their worst trade and the worst trade in pips. As you can see, the worst trade comes to about 5.89% and 237 pips. This tells us that their risk management per trade is still pretty low risk.
All in all, I think moving forward, SPs who are serious in this copy trading business should start to follow the BD GOLD business model. This will give followers more confidence in following the SPs.
Fullerton Markets Research Team
Your Committed Trading Partner