Pip vs pip

I closed the previous post saying that a signal provider, to conceal the fact that he was losing a lot in short time, was trading on gold. Why? If you go to see on the 20 pips winers profile, we see that in a few weeks he made over ten thousand pips. WHOA!! A genius?
No, it’s simply a long standing bug in the ZuluTrade interface: pips are not weighted the same.
Let’s clarify:
If I buy 1 lot of EUR/USD, 1 pip is worth $10
If I buy 1 lot of gold, 1 pip is worth $0.10
He made over 10000 pips in a few weeks? I’m happy for him, but it’s worth as 100 pips of EUR/USD…
On the Italian edition of this diary, a “reader” commented with:

I tried in demo boreFXcorporation and it made 3000 pips in those days

Well, If someone like me, is accustomed to think to a small account where and trade microlots, 3000 pips is $300 – not bad, he could think.

The graph is sexy, you see comments on the official forum as “boreFXcorporation has earn 5700 pips in the last 7 days” , you have no experience on gold trading and you don’t know that 5700 gold pips “equates” to 57 pips = big loss!

On the bright side: on forums I told them this problem (in Italian), and they created a new gold-less signal: Tualatin. Right now it’s too early to say if it can work, in september I will evaluate it.

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