For Signal Providers Only

Ever noticed that when you are doing well you will never receive any feedback and once you lose money you will get complaints everywhere.

When someone suggests you to change the way you trade, how do you handle that?

Have you changed your way because of a subscriber and then incurred a loss?

How do you reply in an appropriate manner to say: This is the way I trade, deal with it!

What is your reaction when someone cancels their subscription the same day they subscribed just because of one losing trade and doesn't give you a chance to recover their loss? Tough luck?

Why followers are so greedy? They run you with high risk levels and if you have a losing trade their account is about to blow up but your own account is only at like 5% to 10% DD.

Have followers complained that they received less pips than you, but in overall received a good bit?

Have followers complained they only made XX% which is well over the amount they paid for the subscription and still complain?

For this question:
What is your reaction when someone cancels their subscription the same day they subscribed just because of one losing trade and doesn't give you a chance to recover their loss? Tough luck?

I know some PAMM managers impose a lock-up period that is subject to penalties if investor withdraw their money too early.

I think you have to be clear with all your investor, defining in your strategy description that you may incur losses up to a predefined % and never more than that.

I think a lot of your issues would be solved with a PAMM structure rather than SP.

Honestly, if people ask me to change I just say no, you can see my strategy and that is what you get.

If people unsubscribe then they unsubscribe, those people are not giving your signal any benefit.

Ultimately the followers want 1000% a day, well they will never get what they want. Eventually you get subscribers tt understabd how things work and give valuable feedback. Until then just keep doing what you are doing.

Thalantas- with a SP there is no benefit to me if they stay for the remainder of the month or not I just think that they should so I won't feel that bad for their loss. PAMM is something I definitely may look into for the future.
CasholeLTD- Yea a lot of people come with unrealistic gains in mind and are never really satisfied.

I understand that SP gives you a steady cash flow but I am not a big fan of such system from an investor point of view (lack of incentive or limited incentive for the trader). I only believe that PAMM is the best way to increase your personal wealth as well as your investors'. Both of you want the greatest returns to increase your cumulated wealth and at the same time your % on their return.

The only limit there are the excess from the trader who could be blinded by the gains...

The way that we plan on operating is to offer a PAMM account, and a signal revolving around the same account. We have the infrastructure set up, just waiting for a few bits of paperwork to go through.

Yes we will make more money if people join the PAMM account and it will be more reliable for the investors, but a lot of people are not comfortable with this, and so we also offer a monthly charge to use our signal.

Of course the PAMM account has some limitations that we have put in place to protect our investors which we have no control over with the signal, so you have a much greater risk using the signal.

ForexReborn posted:
Ever noticed that when you are doing well you will never receive any feedback and once you lose money you will get complaints everywhere.

When someone suggests you to change the way you trade, how do you handle that?

Have you changed your way because of a subscriber and then incurred a loss?

How do you reply in an appropriate manner to say: This is the way I trade, deal with it!

What is your reaction when someone cancels their subscription the same day they subscribed just because of one losing trade and doesn't give you a chance to recover their loss? Tough luck?

Why followers are so greedy? They run you with high risk levels and if you have a losing trade their account is about to blow up but your own account is only at like 5% to 10% DD.

Have followers complained that they received less pips than you, but in overall received a good bit?

Have followers complained they only made XX% which is well over the amount they paid for the subscription and still complain?

Hi,

Below are by personal point of views.

When someone suggests you to change the way you trade, how do you handle that?
Since you are the signal provider, I assume you have a tested and successful trading strategy. So that you must stick to your trading strategy. Your clients come to you because they believe on your trading strategy. No one trading strategy will suit everybody. No point to change what works for you because of 1 or 2 people.
If you have proven strategy with long period of forward test record, you can use that as proof to your client.


Have you changed your way because of a subscriber and then incurred a loss?
Depend, the the loss is part of the trading strategy then as provider I don't think you need to make changes. If the loss incurred because of provider's mistake or operation mistake then as signal provider you must take it as seriously and make changes accordingly.


What is your reaction when someone cancels their subscription the same day they subscribed just because of one losing trade and doesn't give you a chance to recover their loss? Tough luck?
Basically you can't do much when your client cancel the subscription with you. What you can do is find out the reasons. If you can improve your service then go ahead and do it. Usually client will not cancel your service because of single losing trade. If this really happens, this will be very small percentage from your subscribers. I think you do not need to pay much attention on this very small group of people.
You can send personalize email to this client and explain to them the losses and explain to them what or how you can avoid this type of losing trades in the future (If you think you should or you can avoid this type of losses in the future).


Why followers are so greedy? They run you with high risk levels and if you have a losing trade their account is about to blow up but your own account is only at like 5% to 10% DD.
You need to communicate very well to your client about the money management, this must be done up front. Tell them what lotsize they suppose to set for what account type and for how much of the account balance. You need to explain to your client honestly on what DD they should expect for particular lotsize they used. Everything must be told up front, so that psychologically your clients are prepared.
I would say majority of Forex traders/signal subscribers are looking for high return, that is so called certain level of 'greedy'. Again you need to tell your clients up front on their expected month return and DD for specific risk being used(lotsize).


Have followers complained that they received less pips than you, but in overall received a good bit?
Sure you will faced all kind of questions including this one. As a responsible signal provider you should find out the reason behind too. This can because of their broker having higher spread, or your clients try to close those trades manually before TP that you set for them, and etc.
I think as long as you have a VALID reasons (not excuses), your clients will accept the pips different. Your clients will find ways to minimize the pips different too and I am sure they will appreciate your investigation.


Have followers complained they only made XX% which is well over the amount they paid for the subscription and still complain?
This is the pricing issue. You can review your pricing vs. your delivered value to your clients. But in general you are not possible to set a price that suit everybody. No matter how cheap your price, there will be people out there complain about expensive and over value. As signal provider you need to think about money of your client afford to invest using your strategy vs. amount that your charge for your service and vs. % return that your client can make using your signal.
For example you are charging $100 a month, using your signal / strategy with every $1000 account balance, your client can make $100. If this is the case I believe $100 is not charging too high for your client. If with $1000 account balance, your client only can make $10 a month, then I am sure charging $100 for your signal will be too much and not reasonable. That means you client need account balance of $10,000 to break even your subscription fee. Whoever invest $10k or less in account balance and use your signal will be a loss.
In my personal opinion, i think $3,000 to $5,000 to break even your service fee is considered reasonable.
Of course signal fee will also be affected be other factors such as reliability and consistency of the trading strategy, duration of live trading records, customer service, etc, not only on the monthly profit return. But monthly profit return is most important factor that will be considered by client because it will directly match to the subscription price.

It is not an easy business to provide Forex signal. Client requirement are quite high to signal providers.

Regards,
SIM

I am not sure if this is off topic but anyway.
What is the best way to become signal provider?
1. Connect to platform like eToro or Zulutrade
2. Minor sites like my digitrade or signalfactory
3. Develop your own 'brand' website and gather users

Of course at the beginning there is a good trading system...

thank you fxking1 for your positive feedback :) i want to manage pamm but i have never did it so can you tell me any good sites for it or what should i do and what i shouldnt in pamm and how much can we earn by PAMM system

eramar89 posted:
thank you fxking1 for your positive feedback :) i want to manage pamm but i have never did it so can you tell me any good sites for it or what should i do and what i shouldnt in pamm and how much can we earn by PAMM system

I think Alpari NZ has a lot of PAMMs = a lot of potential investors.
You can check other people's setup to see what is the average industry fee.

Thalantas posted:

eramar89 posted:
thank you fxking1 for your positive feedback :) i want to manage pamm but i have never did it so can you tell me any good sites for it or what should i do and what i shouldnt in pamm and how much can we earn by PAMM system

I think Alpari NZ has a lot of PAMMs = a lot of potential investors.
You can check other people's setup to see what is the average industry fee.

thank you but is their any future in pamm system

eramar89 posted:

Thalantas posted:

eramar89 posted:
thank you fxking1 for your positive feedback :) i want to manage pamm but i have never did it so can you tell me any good sites for it or what should i do and what i shouldnt in pamm and how much can we earn by PAMM system

I think Alpari NZ has a lot of PAMMs = a lot of potential investors.
You can check other people's setup to see what is the average industry fee.

thank you but is their any future in pamm system

I'm sorry I am not following you here. Why wouldn't their be any future to PAMM systems? An increasing number of brokers are offering MAM/PAMM services.