If you have been an avid follower of our Copy Tip of The Week series, you should be familiar with the phrase, ”Never follow a scalper on the CopyPip platform”. We have our reasons! The CopyPip platform charges a 0.7 pip commission every time a trade is triggered on the platform. Today, however, we are going to break that rule and will be recommending a scalper. Let’s dive right into it!
1. Low Maximum Drawdown ✅
2. Low Recommended Minimum Capital ✅
These are the 2 criteria that caught my eye. Compared to the high equity growth, the Max drawdown is considered low. Furthermore, Strategy Followers do not need huge capital, as the recommended minimum is only 117.07 USD.
Are you salivating at these green numbers? Since their inception in July 2020, they have been raking profits every month, which is impressive.
But wait!
You will probably be asking, what if they only close their winning trades and let their losses float?! I mean, we have seen cases like these in the past so it is possible.
Now, let’s dive deeper and look at the VAMI Balance|Equity|Leverage chart, which will tell us if the Strategy Provider (SP) holds on to losing trades for an all-green performance. As you can see above, the VAMI balance and the VAMI equity are aligned very closely together. This means that no losing trades are being floated.
Now to the main point on why I recommended this SP who is a scalper from their trading statement, with their average profits at 8.91 pips and their average trade duration is 8 minutes and 45 seconds.
Here’s why! Even though they are scalpers, with a 0.7 pip commission per trade Copypip charges, low maximum drawdown at 17%, and a profitability/win rate at 88.68%, a Strategy Follower can still be profitable by following them.
The overall profitability may drop by almost 7.85% (0.7 pip divided by the average profit of 8.91 pips). But, with their track record and winning rate, you will still be very profitable. I believe the risk of following this SP is low with the low max drawdown and high winning rate.
Before we end this week’s Copy Tip of The Week, we like traders who focus on only a few currency pairs, and this Strategy Provider has 99.77% on gold only. We believe that the proficiency of a trader can be built by only focusing on one currency pair.
As always, do set a safety net for yourself using “Forced Exit and Stop” and have a fixed stop loss based on their worst trade.
Fullerton Markets Research Team
Your Committed Trading Partner
