20/07/2022
What to look at when choosing a trader
The most important parameter in choosing a trader is the estimation of safety, that is, the maximum reduction of risk. There is never a 100% guarantee that what happened in a trader's account historically will continue to work. If the components confirming the correct behavior of the trader are many, then there is a very good chance that in the future it will also be like that.
1 The trader's remuneration is always dependent on the profit generated - the classic WIN-WIN Strategy. If the trader does not make a profit he does not get his "reward".
2. The trader's account should have a positive history that goes back at least 3 months. I do not analyze traders with a shorter history.
3. Maximum drawdown – You have to avoid traders who have a drawdown of more than 30% in their history.
4. Profitable trades - I choose traders who have at least 70% of profitable trades.
5. Profitability - I look for traders, who stably earn at least an average of 0.5% per day.
6. The average duration of the transaction - from my point of view, should not be more than two days. When withdrawing the profits I have made from my account, I stick to the principle that all transactions should be closed at this point - when withdrawing money from my account, I thus avoid the risk of changing the security conditions of my account. If some trades are still open, then disconnect the link between my account and the trader's account for a while and manually close the open trades, accepting a smaller profit or a small loss. After withdrawing money, I again link my account to the trader's account, checking that the balance is greater than the minimum required.
7. If you decide to try it, I urge you to start with the minimum amount indicated by the selected trader. Pay out your first profits, and see how it works! Only when you become convinced you can try to invest a larger amount (the size of the orders will then be automatically recalculated proportionally to the trader's account).
