Risk management our ass
With these risks and "management" behind, this trading would require ~80 pip move against him, and that's it -> 60% of Your account gone like wind. The author claims that during asian session such rapid moves are very unlikely to happen, yet these can happen anytime, just re-read Millionaire's case and EURUSD movement on 1st of November in asian session.
But wait, that's not it -> there are more bullshitery from the author, "money management review":
Cool document, the author is talking about ways of distributing profits and what not. Despite this being super agressive and risky strategy, potential of losses and the frequency has not been discussed at all. Well, who cares, right? as long as he is "managing things", right?
The final part of this article will be devoted towards comunication with readers.
FX Sumo have been providing MQl5 investors with non-monetized signal analysis for the last 6 months, yet we feel that something is missing here. Through these articles and our Telegram chat, we have analyzed more than 300 MQl5 signals, however, we don't feel... rewarded. When we say "rewarded", we dont think in terms of money; when we call out garbage signals that blow up in near future, close to nobody is appreciating our analysis. Somehow, people are mostly voicing their views when 1 or 2 of our picks experience some problems, and blaming us for... what exactly? These people don't even comunicate with the real signal authors that are being paid for these services, yet we are being seen as third party from outside, on which to put anger about incorrect investment decisions. Honestly, we don't feel that we deserve this, and all of this makes us re-consider the true value behind the hours of creating these articles.
Honestly, when we started this, we felt that we could bring an actual value to the community. We already knew that investors are irrational animals, but we thought that we would escalate critical thinking and hot-debates about these discussed signals. Have we succeeded? - Somehow, we don't think so. People are finding new shits to follow, and our view remains side-lined. We completely disagree on how an average investor treats signal providers; hell, we feel that even our own product is not treated the right way. Should we discuss this in more detail? - nah, not really, its better to have followers with some view than not having them at all. While other signal providers agressively advertise their shit products and continue receiving hell-lot-of money, we make non-monetized analytical findings, which are later used to disparage our name. In the end of the day, this just doesn't seem fair.
We are quite annoyed and discouraged, not the most positive note on which to end this. But hey - maybe that's the whole point of this. We could end this with out traditional lines.
That's all from our side. Guys, if You feel that this content brings value to both potential and existing subscibers of different forex trading signals, share our content with other investors as well. FX Sumo is here to educate and raise awarness, however, we are still building up site's recognition, and You could help us with this tremendously. If You have any suggestions or You disagree with some of the ideas, feel free to leave Your comment below! Otherwise, we would be happy to chat with You on our Telegram group!
On the other hand, out of 3000 different viewers that have read our takes in the last 1/2 year, only ~10 have shared those within MQL5/Facebook/other platforms. The more we think, the more we understand that we don't feel comfortable on how this ship is sailing. Either way, that's a problem for tomorrow.