Adrian Reid warns against relying uncritically on advisory services and trading robots that advertise high accuracy rates (e.g., 85–95%), explaining these services commonly cherry-pick and market only during winning streaks while hiding losses. He advises insisting on full trade histories, testing indicators and systems personally, developing objective trading rules, and taking control of one’s trading rather than blindly following newsletters or robots.
Here's a tip for everyone, particularly if you're using advisory services.
Or someone else is trading for you or there's a trading robot that you're looking at buying or something like that. When they promote 90% accurate trading robot or 95 or 85% accurate trade picks, what they're not saying is how much money they lose when they're wrong. And typically what happens the way this industry works, sadly, because it's not the most upfront and honest industry in the world. Unfortunately.
What these trade advisors will do is they'll run their system or their services and when they have a really big winning streak, they'll say, look, we had 85% winners buy our super accurate trade call services. It only cost $5,000 a year to subscribe.
And then when they have a losing streak, you won't hear from them from a little while. And then when they have a winning streak, they'll start marketing again because look, I've got an 85% accurate trade call service. This is what happens.
So what you need to, what I would encourage you to do is insist on seeing the full story. I would never ever trade on the advice of a newsletter unless I could see every single trade call they ever made. Good, bad and ugly. This is absolutely what happens in the, in the financial industry. So again, back to this idea of taking back control for your own trading. You know, develop, get your own objective rules, test them and eliminate the need to worry about that stuff and you find yourself in a much more sustainable position because someone can say, hey, here, this is the best indicator in the world. You can say, good, tell me about it. Then I'll go and test it and I'll see if it actually works on my markets for me. And if it does great, you can use it. If it doesn't, throw it away. It's about being empowered to be able to test and take control. Test the idea, see if it's profitable. Take control of trading yourself.
