System: WP Capital Management 2
Description: WP is a Polish trader who has been living and trading derivatives in London. He has over 5 years experience in forex and precious metals trading. His trading philosophy is based on assumption that fundamental and technical factors have almost identical impact on price action. He takes a versatile approach that integrates both fundamental and technical analysis. The trend following strategy is manually executed, while the trader uses algorithmic signals as a supporting tool. Main positions can be held for weeks and even months. Short term trades are closed after minutes, hours or several days. Risk management is implemented through setting rigorous stop losses and pursuing optimal risk to reward ratio. WP Capital Management seeks to hold no more than 6 positions at one time with maximum combined leverage of no more than 10:1. Typical combined leverage is approximately 3:1. Drawdown is targeted at no more than 30%. Mostly traded pairs are EUR/USD, GBP/USD, USD/JPY, EUR/JPY, AUS/USD and XAU/USD.
Type of Trading: Real
Started: Dec 24, 2009
Tracking: 16 users
Currency Pairs: AUDNZD, AUDUSD, EURCHF, EURJPY, EURUSD, GBPUSD, NZDUSD, SPX500, USDJPY, USOIL, XAGUSD, XAUUSD
Essentials: The WP Capital Management 2 system has made 1582 trades with an average winning trade of 716.38 pips / , the average losing trade around -195.17 pips / and an average trade length of 2d.
The best trade it ever had was (Mar 19) 11661.0 in pips and the worst trade was (Aug 21) -3326.0 in pips.
It has won (478/810) 59% of its attempted buys and (436/772) 56% of its attempted sells.
Pros & Cons
- Its average win is larger than 10 pips which is usually a good thing.
- Uses a potentially huge and dangerous stop loss.
- Prone to large drawdowns.