Tuesday, December 30, 2008

Forex practice

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".So there you have it - the track record is simply made up knowing the closing prices and vendors do this hoping the gullible trader will swallow it and they do time and time again.Of course we can all make money knowing what happened - but trading is a little more difficult than that, we have to trade not knowing the closing price

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