I do like the pro trade copy cat so far, but I still dont like the fact he says he found a "trading flaw" why does it have to have such a sleazy sales pitch?? why cant he just say "hey, I'm a solid trader, I dont scalp, I only trade E/U & you can get my trades for $97, take it or leave it, I dont mind. but trust me I rack up pips!" that would make me try it out for sure!
Yes, spread betting is kind of like a CFD. It's a UK thing whereby you are trading in a "sandbox" - i.e. not in the live market, and is classed as "betting" even though it is the same as trading on MT4.
Advantages are tax free profits for UK citizens (if any other nationalities get tax free profits from this please let me know).
Other advantages are FSA regulation - if you have a problem, you can effectively complain to a government body. I have used IG Index for many years and noticed on many occasions that my stop loss didn't take me out when it touched it by a pip or two, as I think they don't want any hassle.
I also believe your deposits are guaranteed by the UK government up to £35,000.
If the spreads are good, there is no reason to not consider spread betting, it has worked for me and is a great way to trade.
Yes, I got your emails, very helpful thank you.
I got this reply from the ProTrade CopyCat team:
I'm sorry for the problems with the Wireless keys, I am working on this with our developers at the moment and I will let you know as soon as the problem has been resolved.
This is to solve new members from having authentication problems.
I will also have an update on the Wireless version for ECN brokers as soon as I hear back from the developers, so hope to be able to update you on Monday.
Will let you know as soon as I hear something.
Yes, I agree totally. It's a bit of a shame they used such a cheesy website as this is the first auto-trading signals service I have seen that trades "properly" - i.e. uses a stop loss, sensible risk:reward, profit targets, trade management, patient trading that appears to be using a proper system, etc.
Also, weekly analysis that explains what they are trying to achieve.
Still, I will be interviewing one of their traders this week so we can share the information with you all. Hopefully we can cut through some of the marketing nonsense and find some interesting and informative details from the traders themselves.
Well, some of you made some great profits this week (naming no names Mango ).
The results are excellent, still a 100% weekly win rate. Overall profitabe trades is now 78%.
<a href="http://www.mt4i.com/users/protradecopycat1/stats"><img src="http://www.mt4i.com/banner.aspx?id=protradecopycat1&t=300"/></a>
<a href="http://www.mt4i.com/users/protradecopycat1/stats"><img src="http://www.mt4i.com/charts/ResultChart.aspx?id=protradecopycat1&type=daycumul ativeprofit&w=400&h=200"/></a>
<a href="http://www.mt4i.com/users/protradecopycat1"><img src="http://www.mt4i.com/charts/ResultChart.aspx?id=protradecopycat1&type=weekcumu lativeprofit&w=400&h=200"/></a>
I`d like to see them place their weekly analysis up on the Monday. (not wed or thurs).
Otherwise, it becomes a review really.
PS. I was fast asleep, so missed the last entry on Friday. Looks like I may have been lucky.
Last edited by mango67; 17-04-2011 at 10:10 AM.