How to find the right Signal

I used to trade about 10 times a day but now it is probably only once or twice a week. The results is actually much better results. Instead of taking loads of speculative trades I now wait for a really good opportunity that is very likely to get pips. It is boring but the $$$ are worth it

British CPI
Strong data will support the GBP in times of Brexit uncertainties......good opportunity.....waiting for this...happy trading

moerwadi posted:
British CPI
Strong data will support the GBP in times of Brexit uncertainties......good opportunity.....waiting for this...happy trading

Are you a signal provider? I thought that this thread was about finding a good signals provider

Hi,

I have one question regarding signal start and signal providers.
The minimum fees signal provider can set is 30$. Is it really affordable to the followers?
Assume that the follower has equity of 1000$ and 30$ fees is 3% of total equity. To have any profit for the follower SPmust perform>3% every month is it really sustainable model?

Or should one have more option of fees model so it can be better for both SP and follower?

Just a thought!!!

shivank posted:
Hi,

I have one question regarding signal start and signal providers.
The minimum fees signal provider can set is 30$. Is it really affordable to the followers?
Assume that the follower has equity of 1000$ and 30$ fees is 3% of total equity. To have any profit for the follower SPmust perform>3% every month is it really sustainable model?

Or should one have more option of fees model so it can be better for both SP and follower?

Just a thought!!!

On contrary if you have 100,000 account
You get like 5000 profit and pay just 30 bucks out of it...

$30 is pretty damn low for high quality investment advice!! If you ever speak to a wealth manager and offer to pay them $30 they will throw you out. People pay thousands of pounds a year of advice so signals are definitely wort it

Pacifico posted:
$30 is pretty damn low for high quality investment advice!! If you ever speak to a wealth manager and offer to pay them $30 they will throw you out. People pay thousands of pounds a year of advice so signals are definitely wort it

The price of the signal should reflect its quality.

That is true but if you can find signals with 5 years of great results then surely it means that the trade is good and you should have a better chance of getting good results in the future

CheCheChe posted:
That is true but if you can find signals with 5 years of great results then surely it means that the trade is good and you should have a better chance of getting good results in the future

Yes almost 100%
But sometimes the statistics are fake on strange brokers
Sometimes provider wipe account even after 5 years of trading
So it is always good to use some sort of emergency exit when things come from bad to worse.

interesting thread :) great for a newbie to read

Rixxx posted:

I found that one after days of searching: https://www.signalstart.com/analysis/hamster-turbo/37586

Please let me know what you think about it.

blown away

I have been tracking over 100 signals on MQL5, which I filtered for the obvious signs of failure in advance, for more than 3 months using advanced data analytics.

I have been trading trading 8 of them in the last 2 months and all of them crashed. Almost all had decent DD's (20% max) and good monthly performances for more than 4-5 months before I started using them.

Out of the 100 at least 50% crashed and 85% generated DD's of over 70% whilst having low initial DD's.

Most of them claim, according to their descriptions, to have a hidden SL and max DD but I noticed most, if not all signals, do not keep to that promise, out of incompetence, lack of trading skills, reliance on some 3rd party EA or to maintain their positive stats.

After this experience, I am highly skeptical that a decent trader who can make a living off Forex would resort to selling signals on these websites. I mostly see a lot of charlatans and so-called trades who are just trying to collect some subscription money just to blow their account in a few months, just so that they can start over again.

I also noticed a lot of websites that sell signals support this behavior and only care about the commissions they collect on the sales. MQL5 leading the way with this. They could easily reimburse signal subscriptions if a signal gets blown or give an option to cancel the subscription as long as you are in a loss. Or implement a permanent track record for the trader so that you can see his previously deleted signals which he sold since they require real ID registration for sellers.

Yet they do not do anything about it and don't even care if people loose money or not, or if the signal supplier starts over again with a new signal after deleting the old one. All they are about is $$$.

So my advice is to tread very lightly with signals and invest on a tiny fraction of your funds that you are willing to invest into Forex. If you are hoping on a steady income or a install and forget approach to these signals you will be very disillusioned very quickly.

You are absolutely right! Most of the signals just lack a proper risk/reward ratio. 6-20 pips TP with 100-200pips SL can't work in the long run. I wasn't even able to find one signal with a good ratio.

Maybe it's better to find some good indicators and trade on your own with fixed TP and SL? Any recommendations for indicators? :)

I don't think it makes sense to use an indicator and choose your own SL and TP. The strategy you use should be designed around the SL and TP so you cannot just see an indicator saying price will go up and then choose your own SL and TP and the TP and SL will depend on the strategy

Yes, agreed with that. Most of them just make want to make money from their selling signal. They earned their profit by subscribers subscription. First 3 months, they showed their super good performance, from here subscribers start to join because of low DD and very high return.

However, high return with low DD is just a FAIRY TALE story.

After a few months they joined, they burned their invested money but the owner earned so much money from subscribers subscription. So, before starting to invest, please make sure that you know how to control your risk first. Just invest the sum of money that you afford to loss.