"Pro Trade Copycat" System by David Henderson

[Simon]

The ProTradeCopycat system is released next week. It provides manual signals, email alerts and there is also an option for a trade copier (which is what we will be testing).

We have requested a copy to review for our members and will post results and more information as soon as the service is up and running.

[Simon]

<a href= "http://www.forex-fxtrader.com/protradecopycat.php"target="_blank"><img src="http://www.protradecopycat.com/images/728x90.gif"/></a>

[Simon]

After a lengthy email exchange, we got a test copy of this new system.

Having a look through the members area, it seems quite well put together and professional. There's some decent weekly analysis and a fair amount of work has gone into the site.

We are using the Pro Trade Copycat Wireless system, which is similar to the Honest Forex Signals that we are testing here.

You can follow the progress of this signals service from the link below:

MT4i - Pro Trade CopyCat Wireless Test - Forex FX Trader

[Simon]

Very impressive start for the ProTradeCopycat. It finished the week with a $500 profit, so 5% account increase. Total weekly pips profit was 154.

I am being bombarded by spam from "signal services" right now and have noticed that a lot of them aren't using stop losses. This one is good as each trade has a clearly defined stop loss and take profit level. If you are also getting this spam and have been tempted, please check results for stops before doing anything - anyone can grow an account by trading without stops!

You can check the stats here - MT4i - Pro Trade CopyCat Wireless Test - Forex FX Trader

[capsmart]

I subscribed at Pip Cloner last week and is exactly what you say. No stop loss. During the week they had trades open losing 300 and 400 pips. They also show a very impressive record but apparently the losing trades that they still carry from mid January are not included in the curve equity. Of course I asked for a refund even if the final result was positive.

[Simon]

Hi Capsmart,

Yes, you are correct on the huge floating losses that some of these services also have.

I have seen some which are hundreds, and in some cases thousands, of pips down in floating losses. At what point will these be closed down? Never?

This is idiotic, and you certainly don't need to pay someone to trade this way for you.

Simon.

[raa]

Hi Capsmart,

Yes, you are correct on the huge floating losses that some of these services also have.

I have seen some which are hundreds, and in some cases thousands, of pips down in floating losses. At what point will these be closed down? Never?

This is idiotic, and you certainly don't need to pay someone to trade this way for you.

Simon.

Haha sounds like my cable trade that took me 30 minutes to get in and 14 days to get out.

[Simon]

ProTradeCopCat had two more winning trades last night - both on the EURUSD.

The first one went for a profit of 24 pips; the second went for only 5 pips (they obviously closed this down for a small profit - it probably would have hit the take profit target and price is only 11 pips away from that as I write).

They are using stops and take profit targets, and someone is managing the trades. I have to say so far I am very impressed.

The results so far are showing a Profit Factor of 4.63 and a Risk:Reward (on closed trades) of almost 1:5

You can see more detailed stats from the link below:

MT4i - Pro Trade CopyCat Wireless Test - Forex FX Trader

[Simon]

This is looking better and better. These guys look like they know what they are doing and the system had another winning week. You can see the stats from the link below:

MT4i - Pro Trade CopyCat Wireless Test - Forex FX Trader

Simon.

[LimHenry]

Thx to Simon, Vassilis & Alex... for sharing.

As you & others rightly said there are way too many signal services out there. Only very very few of them, if any, are for real & genuinely worth exploring.

The number 1 question most (& I) wld ask is: why is the vendor sharing (or selling rather) it if it is really profitable?

The next immediate question is: assuming it is truly profitable, what if tons of people are using it? (That is why David Henderson said he wld limit users of his method to 230 only. But, how do we know it is true?)

Wld all care to share views?

Also, cld you tell us what Pro Trade Pip Zapper, Pro Trade accumulator, & Pro Trade Profiteer are? I saw them on their website.

B rgds/Henry