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How to find the right Signal

forex_trader_[592685]
Dec 23 2018 at 09:03
21 posts
Hi everybody,

I am new to Copy Trading and currently looking for reliable signals to copy.
Obvious are facts to look out for like:
- Only Real Accounts
- Only Accounts that trade more than a few months
- Max. Drowdown of 50%
- Continuous trading and continuous small wins
- no risky strategies like Martingale etc.

Do you have other things that you look for when searching for a signal?

Thanks for your help and please don't advertise for your own signals here!

Rixxx

Professional4X
Dec 24 2018 at 02:31
1189 posts
You would be better off learning to properly trade your own account.


If it looks too good to be true, it's probably a scam! Let the buyer beware.
moerwadi (moerwadi)
Dec 24 2018 at 04:08
293 posts
😁😁
Professional4X posted:
You would be better off learning to properly trade your own account.

with loss money risk😁

Professional4X
Dec 24 2018 at 04:17
1189 posts
Professional4X posted:
You would be better off learning to properly trade your own account.



moerwadi posted:
with loss money risk😁


You would rather give your money to a complete stranger on the internet to trade for you?

If a trader learns to properly trade and sticks to the rules, avoids emotional based trading, and uses good money management rules, then a trader can manage their risk to an acceptable level.


If it looks too good to be true, it's probably a scam! Let the buyer beware.
Protagor
Dec 24 2018 at 11:10
6 posts
hamster-turbo is also here om MyFxBook and you will find a description of the strategy. But the system does not use a classical money management strategy (Margin-Stop-Out). It is a very interesting gambling system for low funded accounts which uses a big leverage (in Europe and USA not possible) and very high stakes.


On the other hand: cTrader provides as sample a Martingale system which yields huge profits: A long backtest (2011 -2017) showed how you can become a millionaire starting with an account of 10.000 €. But it is still a Martingale (Drawdown 90%). There is always a point when you need the one lucky trade.

When you have some money for fun it is not worst alternative.

SCR Traders (Pikasso)
Dec 24 2018 at 11:11
167 posts
Rixxx posted:

Do you have other things that you look for when searching for a signal?

Rixxx


Sure. The real balance of signal provider's account can't be extremly small. It shouldn't be one of the overclocked accounts that will be blown off later without any impact for provider.

Trading system developers and strategy providers.
Olimp (Oilolimp)
Dec 24 2018 at 12:11
1 posts
forex_trader_[592685]
Dec 24 2018 at 13:18
21 posts
Protagor posted:
hamster-turbo is also here om MyFxBook and you will find a description of the strategy. But the system does not use a classical money management strategy (Margin-Stop-Out). It is a very interesting gambling system for low funded accounts which uses a big leverage (in Europe and USA not possible) and very high stakes.


Thanks for your post! Why do you think it is a gambling system? The profits seem low but constant. And there are two different money management strategies in the description and the signal provider seems to do a great job using it. When you look at the history you can see a regular withdrawal and never too much risk. For example there are no trades during christmas holidays and before important decisions (like the FED).

Thanks for your help!

Protagor
Dec 24 2018 at 15:11
6 posts
I do not question the integrity of the signal provider and she is honest about her approach.

But in the last week she made of profit = 22.6 pips as a result of 4 trades und used 2.08 lots but the account has only a balance = 650 € or $. Basically low profits, also a low risks but when the risk event comes then it goes nuclear.

Even when there are perhaps reserves of 2.500 the lot size of a trade is very high. With such an balance i would never more invest than 0.05 - 0.1 lots. You have also to check yourself if a watchdog is limiting your leverage.

Betfair is a sports betting exchange and there you can back 1.01 events (win chance at least 100:1) but you have to invest 100 units to win 1 units (and 5% commissions on wins). Many people considers this a 'sure bet' but studies have show that such an approach is a looser.

forex_trader_[592685]
Dec 24 2018 at 15:14
21 posts


Sure. The real balance of signal provider's account can't be extremly small. It shouldn't be one of the overclocked accounts that will be blown off later without any impact for provider.

Thanks for your reply! So you think the real balance of that account is too small? https://www.signalstart.com/analysis/hamster-turbo/37586

What do you mean by 'overclocked accounts'?

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