Forex $ocial Traders


Absolute Piper Has Changed Trading Behaviour To Worse

absolutepiperSome things in forex social trading area can change very quickly, like weather. A “big storm” like event happened yesterday to Absolute Piper.

The trader had several EUR/GBP positions opened. Market was moving against him and his drawdown approaching -500 pips level very quickly. (To explain: The trader promised 500 pips to be maximum DD. At that level all of his open trades should be closed.)

Did he closed those positions? No!

He let them open and his DD grew up to – 1,080 pips. Even worse, with no stop losses set on them. That made many of his followers upset.

It also had a side effect. Average pips/trade felt below 5 pips which caused that Absolute Piper was disabled for EU citizens.  (EU regulations rules are: a signal provider can be followed and copied by EU citizens only if he is listed in Top500 of Zulu Ranking, his max. DD is less than 30% and his average pips per trade is 5 pips or more).

Thus, a lot of followers got upset even more.

It is quite disappointing that one top ranked signal provider who has been doing very well for more than 2 years can break his own rules so significantly. Altough currently EUR/GBP pair is moving south again and it seems he might closed them in profit, the question rises: Is this signal provider trustworthy any more? What max. DD can we expect from him in future?

His overall trading results are still very good, but if you wish continue copying his trades, adjust your lot size accordingly.

You can read all articles about Absolute Piper that were posted on our blog by clicking on the following link: Forex Social Traders – Absolute Piper Reviews

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