@Brendan777 As usual you give good advices, but they are useless without concrete examples with real signals. So if you don't want to help us to find your magic two signals in the offering of Signal Start that at the moment are satisfing your criterias and give together 15-20% return monthly....stop talking, stop your bla bla, shut off and go to troll in an another place.
Ha, I am not affiliated with Signal Start at all, just a regular user like everyone here. In fact, if you look at my earlier posts, I only join this thread to give feedbacks about the services I received from them (I also think their customer service response time is TOO slow).
About Real Gold, the first time he traded at 200-300X his normal lot size was a big red flag for me. All it takes it one bad move of the currency and you're toast. It also tells me that he's only been lucky for the last few months, and now we all know he blew up and has a 82% DD. As for NYC, his EA went a little crazy recently and was making stupid moves trying to save losing positions. For example, it would close out large positions for a loss then open new positions at around the same price with even bigger positions. It also had positions open during NFP, that's also a big red flag for me.
I don't really make signal recommendations, but if you use the parameters I've described you can easily find the signals I use from your search results. I personally wouldn't use any of the signals mentioned by 785boats, the DD are all too high for me. I think another good tip is not to be greedy, I've also been down that road before. Set your risk to 1 or lower (some can go as high as 2 for really low DDs) and just build your balance slowly but surely. Like I've said before, the goal is to take a few years and build it to 100K and even 10% monthly with that balance will net you around $10K. I've seen people running around with $30-40 million in balance, a 1% return monthly is 300K for 30M, so don't think it's impossible, you just need to be patient and not be greedy.
cambridgeinvest has just posted in your subscribed topic Signal Start:
'@Brendan777 yes please Brendan please tell us what signals you are using, and why you think that they are good.
When did you realise that real gold wasnt any good as for what i can see he always done well up until 11th April , he often closed out losing trades, and had a good win rate with low drawdown, he also had a 200k account which is always a good sign . I though i picked 3 of the best signals with many more on my watchlist based on a real account, good return, low drawdown, I picked people with a decent account size, those who had been trading for at least 8 months and people that close out losing trades. As you say it only takes one day, or one losing trade to lose much more than what you ever gained even if you are conservative with the risk settings.
Id like to know who you have been copying and why you chose them and how it is working out for you.
If you could share this information, im sure many people would benefit from your experience.
@Brendan777 Who really are you? You seem a Signal Start sponsor or a Signal Start guy in secret mission... you give good advices to select the signals but there are not good signals that satisfied your rules with a decent profitability... and you don't say the name of your (only your) good signals that you are really copying right now...because as a Signal Start representative in disguise you can not sponsor a signal or another, right? Tell me at least one thing: which is the mean profitability on monthly basis of your selected signals?
@jeanluc Hmm... not sure why you're not able to find signals. There are a few that fits the parameters I've mentioned, and I am using some of them right now. BTW, your posts seem fine, didn't notice any deletions.
POSTED BY @785boats AND REMOVED BY MYFXBOOK. IS IT COMMERCIAL? I DON'T THINK SO.
'I have had mixed results trying many signals; more than 10 in the last 4 months mostly at $30. So I am running at a loss.
I am impressed with the technology and the interface, so I have kept on as a follower. I do not see much competition out there, although I will soon try Myfxbook auto trade which claims to be more transparent. Time will tell.
My considered opinion is that the rating system as presented is a guide only and one has to analyse all the parameters and then suck it and see. In any event, trading is never certain and high risk.
Over the last 3 years having been badly burnt by Binary Options, I went on to FX PAMM accounts with many brokers with little financial success. 30 to 40% commission is just too high IMHO.
This service has been fun and remains promising financially.
Anyway, the signals indicated by @785boats don't satisfy the rules of @Brendan777 and applying the rules of @Brendan777 I didn't find a signal with a decent profitability to repay at least the cost of the service.
So, this little experiment has been usefull to me to have the confirmation that at the moment there is no one good signal in all Signal Start offering.
So, don't waste your money and stay away from Signal Start, it's worst than a grand casino in Las Vegas...
Maybe, you could find instead a couple of little diamonds in AutoTrade.
I don't really make signal recommendations because no signals/EAs last forever and everyone has different risk tolerances, but I can recommend the settings I use to filter out the potentially better signal. Two parameters: 1) DD under 20% (preferably under 15%), 2) Age over 6 months (preferably over 1 year). I don't really focus too much on returns, I put 90% of my attention on risk control.
Then I review the trading histories, mainly how long the trades last and how it saves losing positions (I usually stay away from martingales as that strategy is more suited for cards not FX IMO). Win ratio I look for a minimum of 75% or better. I guess lastly is the price, some providers are clearly trying to gouge their subscribers, those in my experience don't usually last too long. Most providers who are realistically confident of their signals usually price them at $30-$100.
The idea is to safely build up your account to at least $100K over the period of 1-2 years, then maintain a very low DD so that even at 10% return per month you're looking at $10K income. At $200K it would be $20k/month and so on.
As 785boats said, DYOR and be very patient, set aside at least 2-3 years of monitoring and testing signals so that you can build up a good balance and retire early. I also think that as we advance in AI and programming, EAs and signals will just become even better and more sophisticated, there are a LOT of good signals now compared to the market 5 years ago.
Guys, you need to learn how to pick signals better and not only by the trading records. There are some good signals in Singal Start, but you need to analyze their trades, especially how they save their losing positions.
Also always remember, no signal will last forever, you will need to always watch the trades, but it's a lot less stressful then doing it yourself!
The signalstart and paybackfx services are myfxbook properties and all have very good reviews on myfxbook and best rate, comments are added by people who have never added a comment and now add, total is added already 270 and also the same number of rate ... very interesting ...
cambridgeinvest posted: IF you use this service you will lose all your money . Originally i thought it was very good, I picked 3 providers with a good history and very low drawdown. One was a scalper called newyork city capital he basically used a martingale and kept added positions doubling in size until he got out of a loss increasing margin massively til almost recieving a margin call, he managed to get out in profit but because of latency between brokers many people suffered huge losses while he got out untouched, this guy is a ticking time bomb but has very good stats on paper. Next was real gold i started copying him when his drawdown was 5% he had a very good track record for the previous 8 months , he got greedy doubling his position size whenever he won, eventually almost blowing his account when gold shot up and went against him luckily i was copying him at 0.5 risk so i lost about 40% of my account. Machepro was ok but its just a matter of time until he blows too as he tries to average out when the trade goes against him, his stats show only 5% dd but i know as ive copied him that its really around 30% as that was HIS trades were showing in my account. Theres many other providers that look awesome pulling in massive gains, but their account are tiny, thats because they gain from people subscribing and their ea will only work for a short time before the account blows, when it does blow, they set up again via a different name, just take time to go through some of their history, they have tiny account of under $100, when some of the trades go against them you can see that they deposit huge amounts like 90K then close the losing position so their stats are not damaged, then withdraw the 90K yet if you copied your account would of blown. Tread carefully if you choose this service but best to keep away.