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Signal Start vs AutoTrade

richhand
Apr 15 2016 at 11:44
posts 22
So Autotrade is more carefully monitored (record verified etc) than Signal Start by Myfxbook. Since we pay a subscription for Signal Start I believe this too should be verified to the same level.

I have had a problem this week with Signal Start that should definately not have occurred, relating to the minimum balance required which is only made apparent once subscribed.

I would like to know what other problems people have noticed with Signal Start. If Myfxbook believes AutoTrade should be verified then how can I have confidence in Signal Start which is not!
Myfxbook (Staff)
Apr 15 2016 at 11:48
posts 1411
@richhand Signal Start systems are fully verified by default which is why there is no validation status per each system, unlike Myfxbook, where traders can upload non-verified account statements (until they go through the verification process).
richhand
Apr 18 2016 at 06:26
posts 22
Ethan the following email you sent me suggests that Signal Start is not as reliable.

'Autotrade users are required to have verified accounts when applying to the service.
SignalStart providers may or may not have verification.'

Anyhow, to what level are Signal Start accounts actually verified? Look at the account of Millionaire Highway:

https://www.signalstart.com/analysis/millionaire-highway/5433

100% win rate over 52 trades and a daily profit of 37%. Has this ever been done before?!
Myfxbook (Staff)
Apr 18 2016 at 06:53
posts 1411
I apologize for the inconvenience; my reply was inaccurate;
I've meant that AutoTrade signals are hand-picked, and all accounts must be verified before a user applies it to AutoTrade, as for Signal Start - systems are not hand-picked but all of the accounts are verified by default, because they are set up on our servers and users provide us with the account login detail so the data is fetched directly from the brokers.

As for the account in your post, this is the data taken directly from the trading account of the broker.
Ozzie Matt (aeronthomas)
Apr 18 2016 at 14:45
posts 1557
also that millionaire highway is a demo account, I would filter out any demo accounts and any accounts on scam / dodgy brokers.
rob559
Apr 18 2016 at 19:45
posts 1916
aeronthomas posted:
also that millionaire highway is a demo account, I would filter out any demo accounts and any accounts on scam / dodgy brokers.

i second that
richhand
Apr 19 2016 at 06:27
posts 22
Why would a demo account be a bad thing? If it is automated it should give the same result and if it is manual then trading should be less emotional and therefore truer to the system at stake.
richhand
Apr 19 2016 at 06:27
posts 22
Staff posted:
I apologize for the inconvenience; my reply was inaccurate;
I've meant that AutoTrade signals are hand-picked, and all accounts must be verified before a user applies it to AutoTrade, as for Signal Start - systems are not hand-picked but all of the accounts are verified by default, because they are set up on our servers and users provide us with the account login detail so the data is fetched directly from the brokers.

As for the account in your post, this is the data taken directly from the trading account of the broker.

Thanks Ethan I understand now
Ozzie Matt (aeronthomas)
Apr 19 2016 at 15:34
posts 1557
richhand posted:
Why would a demo account be a bad thing? If it is automated it should give the same result and if it is manual then trading should be less emotional and therefore truer to the system at stake.
if the trader has not enough confidence in their own system to have real skin in the game i.e. $$ they can make money of the signal, crash the signal after 6 months through overtrading poor choices etc, and they loose nothing, the people following can loose everything. Then the signal provider can change name and start up again, and have another lucky streak for a few months etc, rinse and repeat. I never trust demo results.
rob559
Apr 28 2016 at 14:45
posts 1916
richhand posted:
Why would a demo account be a bad thing? If it is automated it should give the same result and if it is manual then trading should be less emotional and therefore truer to the system at stake.

real acc prove the seriousness of the trader,readay to put his money where his mouth is
vontogr (togr)
Apr 28 2016 at 16:03
posts 4862
richhand posted:
Why would a demo account be a bad thing? If it is automated it should give the same result and if it is manual then trading should be less emotional and therefore truer to the system at stake.

Well it depends. There are known systems that works only on demo not on real. Like the tight pip scalper or arbitrage.
AmDiab
Aug 03 2017 at 06:40
posts 718
richhand posted:
Why would a demo account be a bad thing? If it is automated it should give the same result and if it is manual then trading should be less emotional and therefore truer to the system at stake.

Because, many traders use demo for gambling! So, it’s risky to use!
vontogr (togr)
Aug 03 2017 at 09:53
posts 4862
richhand posted:
So Autotrade is more carefully monitored (record verified etc) than Signal Start by Myfxbook. Since we pay a subscription for Signal Start I believe this too should be verified to the same level.

I have had a problem this week with Signal Start that should definately not have occurred, relating to the minimum balance required which is only made apparent once subscribed.

I would like to know what other problems people have noticed with Signal Start. If Myfxbook believes AutoTrade should be verified then how can I have confidence in Signal Start which is not!

Signalstart stats. Observe them, especially the accounts with zero DD and insanely high profit.
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