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Little update on FP social trade copying


I don't usually show balances but here it is live account. Its a risky business copy trading. I am copying what I believe are trading bots copied from other users live trading accounts trading just EU and using the inhouse FP social trader function. There is no fee from FP to do this but there are performance fees paid on profits to the trader you are copying. The fee is auto debited from your trading account at the end of the period which can be daily/weekly/monthly. I am now copying two different providers into this account. Note it doesn't matter if you copy from/ into a mt4 or mt5 account they can mix and match.


Copy 1

Minimum starting balance required $250.

What I have found so far is it opens small lot size then if the market goes against you it opens more at same lot size until 3/4 are open then it starts increasing lot size which is pretty risky. But there was 1 bad day and it did close the trades for 7.5% loss which was annoying as market tanked just after and would of been ok but that shows me there is some cut-off safety point which is good. On last CPI day (big news) it didn't take any trades which is also good sign for me.


Slight worry since adding second copy I increased account balance to $1250 yet NachoTrade is still using starting lots at 0.01 which makes me think $250 starting balance is using way more risk than the master is using.


FP have updated the data sheets for the account and can now see it has run for 372 days and max dd at a whopping 66.47%. Average win is 1.95 while average loss is 2.90 which is a negative for me. But what it seems to do is average out for a small win on the basket of open trades.


So a bit of maths 372 days / 7 *5 = 265 trading days total trades in that time 6935 so average 26 trades a day with average trade duration 4hrs 45mins I know this will hold over rollover.


Digging deeper into the sheet the max leverage has decreased dramatically in the last 7 month but so have the monthly gains. This suggests to me that they have reduced risk and the max dd may of been created in the early few months of the account. So I am expecting lower dd in the future and possible extra safety features have been added. But this is all speculation as have no access to the actually trading bot at all.


Copy 2

Minimum starting balance required $1000.

I have only run this 1 day and copied at half risk to test. It took 1 trade and was a nice winner bigger lots than the other bot. I don't know if it stacks if losing yet but so far so good.


From data sheet has run for 122 days and max dd 30.03% so I suspect it does stack or have wide stoploss. Average win is 15.07 while average loss is 13.28 which is a positive for me.


So a bit of maths 122 days / 7 *5 = 87 trading days total trades in that time 154 so average 1.77 trades a day with average trade duration 57mins by that logic I wouldn't expect to be holding over night but don't know yet.


I hope this information is of interest remember copy trading you are at the whim of someone else's system and its very risky. This could blow out tomorrow well if it hits 40% dd it will close out for me and I take it on the chin.


Interested in FP markets as a broker or looking at the social trader stuff link below.




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