Non-Repainted Forex Indicators! How to Avoid Frauds?
Non-repainted forex indicators (strategies) is a traders' term standing for reliable and profitable trading algorithms.
Repainting is a fault or an indicator or the whole strategy making traders suffer losses. It appears because of bad copying of the professional strategy.
1.Repainted Strategies on the Net!
2.How to Choose a Non-Repainted Strategy?
3.Your Own Trading Strategy!
Repainted Strategies on the Net!
If you decide to find a trading strategy on the net, you can meet lots of bad indicators and strategies unable to make profits for you.
Some of them are accessible for everybody, and others are even paid! Anyway, algorithms like those will lead to losses and every clear-minded trader must detect such repainted indicators and strategies and avoid frauds.
How do these indicators appear? There are several sources:
- Firstly, bad (repainted) strategies and indicators are often created by frauds just to earn. They can widely publicize and advertise their product, and then it's discovered that you've bought a bullshit lead you not only to losses of buying that but also to wasting the whole deposit!
- As our regular readers know, brokers earn with traders' losses - so, they're interested in people's wasted money. Surely, they can purposefully create bad strategies and advertise them. Searching, a novice meets this free strategy (or an indicator), which is supposedly profitable, starts trading and loses all money.
- Sometimes, an article about forex and trading can be written by a fully incompetent person. His main goal is to fill it with keywords just to make the material and his site popular, taking no responsibility for the quality of information. Originally, maybe the strategy described was a profitable one, but, repainted by a half-copyrighted, it eventually leads to wasted deposits.
How to Choose a Non-Repainted Strategy?
- First of all, pay attention to strategy's feedback. Usually, you can find plenty at forums, sites and blogs. Learn traders' feedbacks, arguments and bolt unproven opinions out. Do not look for such feedback in the site where you've found the strategy. Do it only at impartial forums, because critiquing opinions are often deleted by brokers and repainted indicators' authors.
- Estimate strategy's complexity. It must be clear - otherwise you won't be able to work with it - with no respect to its profitability. Novices often choose complicated professional strategies, able to give 300% profits, but lose money just of little experience. In some cases, unnecessary complexity is a sign for repainting - frauds try to delude trader with lots of indicators and laws. Be advised: if a strategy has more than 5 indicators, you won't gain much with it, because it's hard to make tools compatible. Even professional traders use 3-5 tools and earn well.
If a strategy is too easy that everyone first time at forex will reach success, you should be warned. Actually, only tough traders can gain profits at the exchange - and repainted indicators or strategies like "trade on trend" or "listen to the expert" won't give you money. Maybe you consider such trading profitable. Before you waste the whole stash.
- If strategy's authors offer to buy their product, you must find screenshots, traders' account deposits balances, etc. on their sites and blogs. Surely, it's about non-repainted indicators and strategies. Such screenshots don't guarantee your profits but can give some confidence.
- If you want to use a net-found strategy, try to find its authors. It can be possible in social networks. Traders don't love to show themselves, but they won't ever hide at all. If one earns well at forex having invented the own strategy, they probably have a site or something. That would be good for you to visit - you will be able to author and his apprentices, along with other traders.
- All point above give you some confidents but not 100% guarantees. You still risk meet a bad repainted strategy and lose everything. Even if you follow all the rules. It's up to your testing to minimize risks. You can check the strategy for stories about it, then open a demo-account and trade there for a while (at least for two weeks). And if your trading will gain for you, only then invest real funds.
Your Own Trading Strategy!
The best non-repainted strategy is your own algorithm. You cannot, however, be sure in its profitability, but won't meet frauds. Anyway, you should test all indicators and strategies just not to lose money then. Many overconfident pros start their own strategy, trade and waste. But they are pros! Can you imagine newbies's strategies, those ones' who can't immediately pick out the trend?!
As for the conclusion, I must mention that your trading indicators, strategy and system - all of them are essential for profitable trading. Non-repainted forex strategies exist, and there are many of them, but there are by far more repainted and bad ones.
Making the right choice, you'll provide yourself with good profits. But keep in mind that any right algorithm is a half-job. Another half is up to traders them selves.