We are going to review a very interesting Strategy Provider (SP) based in Singapore and I will explain why some of the metrics from CopyPip may not be an accurate representation of how a strategy provider is doing.
NerdyFX may not seem like they have a good performance as the total pips’ column is showing a negative number. This might scare you. But you must ask yourself, how is it possible that the SP is still profitable with -2273.10 total pips?
Let me explain. If you look at the description of the NerdyFX, I understood that they scale their trades on very specific currency counters. This means that even though you lose more pips than you earn, you can still be profitable.
How? For trades that you win, you win it with huge lots sizes, while for trades that you lose, you have a very small lot size. I believe the concept is like a martingale but with stricter rules in place.
Let’s look at their returns which seems to be low risk with their max drawdown at only 20%. Of course, it might be too early to judge whether this provider is reliable, but I think NerdyFX is off to a good start.
One downside is that they do not set a SL because of how their system works. So, I would suggest NOT to set a fixed stop loss, but instead, have a “forced exit & stop” advance setting in place. As you can see that they only have a 20% max drawdown, so perhaps, 50% of your capital forced to exit and stop would work well.
From the general data, you can see the worst trade of 127.4 pips only costs the SP 0.59% of their capital, which is very low risk.
Finally, do remember that this SP has a fee of 18% so take that into considerations when following this SP.
Fullerton Markets Research Team
Your Committed Trading Partner
