The problem of copycats

Last month I found a nice signal provider: Underlight.
I tried it in demo, wonderful, every day a new tip on money management and so on.
Once live, it started to lose and deleted all the tips. Why?
I quickly analyzed its positions and I noticed that, within a few seconds, he simply copied from Forex Cruise Control and High Profit Factor!
And here is the problem: a copy is never better than the original – while Underlight closed with a loss because probably he didn’t had any idea on how read the strategy, Forex Cruise Control closed with a gain…
This lesson had a 300 pip price for me.

3 thoughts on “The problem of copycats”

  1. Yes unfortunately copycats can become a problem thatโ€™s why is very important to check thoroughly your portfolio and test it well before going live.

  2. Yes demo is aways the answer ๐Ÿ˜‰ just watch out for the slippage choose the broker with the least and no comission (aaafx) ๐Ÿ˜‰

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