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Signal Start
www.signalstart.com
Overall Score: 3.9 / 5
Total Votes: 817
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tamirsa

Member Since Mar 12, 2014  60 posts tamirsa May 15 at 10:31
Q_FxTrader posted:
Signalstart is a good option for both intermediate and beginner traders and investors to connect with each other easily.

Because a highly professional trader with long track record will definitely choose a MAM/PAMM option in a forex broker or hedge fund and may not be offering a signal service for various reasons.

Also, an intermediate and not a highly successful trader is still much better than a beginner in forex trading and he has more experience than a completely new trader. So by copying the trades from a partially successful trader is still a better option for a beginner instead of simply gambling with real money by directly trading by himself.

Though signalstart has many limitations, but it can be very useful especially for many beginner traders and investors if they choose the signals carefully.


'Connect with each other easily?'
Wrong - the whole idea behind SignalStart is to prevent contact between signal providers and investors, so they will not be able to communicate and the business will remain purely business.
A signal provider can communicate one-sidedly with his investors by editing the description section on the signal page.

investing.ts@
GermanyFX

Member Since Jul 31, 2018  188 posts STAR FX (GermanyFX) May 15 at 14:57
yes thats true signalstart dont let communication between provider and subscribers.

FOREX Signal Provider
dcodemaster

Member Since Feb 02, 2019  3 posts dcodemaster Sep 13 at 23:26
GermanyFX posted:
yes thats true signalstart dont let communication between provider and subscribers.


But you can find the providers on MFB and communicate here.

dcodemaster@
Keep_It_Simple

Member Since Sep 24, 2018  1 posts KEEP IT SIMPLE (Keep_It_Simple) Oct 10 at 08:21
TRADEFX2016 posted:
I am signal provider and I am really not happy the way signalstart collects 30% from provider and also 25 USD from subscribers on monthly basis. this really affects our clients and our following, also there is no way to reach to new subscribers, you must make a main page where we can interact with people to make them subscribe to our signals, getting client is really tough for us. there is no way to advertise our signals. most people sitting on the top ranking are not even trading now, they just manipulated results by adding more money on later stages to increase the growth and now those traders who trade on daily basis cant be on top lists.


you better try mql5

KEEP IT SIMPLE
TraisiTrustFund

Member Since Sep 11, 2019  4 posts TraisiTrustFund Oct 30 at 03:03
I've had no real issues with signal start. Firstly my experience with autotrader.

I used autotrader a years ago and lost thousands to firstly not knowing what I am doing, real novice, and also closing the account without checking if all trades were closed - they weren't, I assumed if you are linked and resign from autotrade, all trades would be closed. I closed my laptop and never opened the platform until months later, being down a HUGE amount. I received very little sympathy... but we move on...

Signalstart has many more quality signals but you pay, of course. No issues yet, but to set your desired min/max lot size compared to the providers historic min/max lot size takes a bit of manual calculating. The 'multiplier' is rubbish, it gives you more hope & useless info than real facts that you can use. Lot size and risk is everything.

You manually should check what the provider's balance is, see historically what their min/max lot size was that they used, get a ratio and apply that ratio to your own balance, knowing what your comfort min/max lot size should be taking margin level, your balance and your stress tolerance is. Then only you can apply the multiplier with confidence, in fact DO NOT put on live trade until you had a couple of trades on your DEMO account to understand how each provider trades. Only then you can play with the multiplier for each and every different provider to set to your needs.

I honestly have been profitable, by firstly being very conservative in at least a week for each provider (low lot, but never let it go 'under 0.01', which if a provider uses 0.01 as his lowest lot, setting your multiplier too low, let's you deal in too many 0.01 lots, when actually the provider meant to go e.g. 0.10, then some 0.03, then many 0.01 lots. If your multiplier is too low it may be 0.03, then only 0.01 lots, which may (not may will) go against his strategy and you will lose for sure. Now that is all in ratio with your own balance. If you have say $1000, but the provider only has $100, all sorts of havoc can happen if you do not know how these ratios work. I have a healthy balance and trade not more than 0.3 to 0.5 lots per trade, which still ends up to be a good low % per trade/total trades for MY balance, everybody is different.

NOW the next is the secret of signalstart (or any autotrader, signal service):-

Carefull, when subscribing to a provider, UNTICK the box to take current open trades. The trades may be already at the dead end of a big loss and still getting bigger loss, rather take new trades when they arrive. Big losses is possible with this, I already asked them to default this box to UNTICKED, but not happened yet.

You absolutely need to view historic trades of AT LEAST a month of any signal service, longer if there are only a few trades per month. If your desired signal service can't/won't/does not have historic trades, verified by Bluefx, mql5, myfxb, FORGET IT, move on. That would be silly to read through their marketing material which are 222% lies and manipulation. Money talks, bullshit walks. Autotrade and Signal Service have enough info for you to be able make a fair decision of how providers trade.

And then the crux. Some traders do not mind big drawdown for big profits, that is an aggressive style of trading and not if you have money to lose, it is slightly like playing or gambling, but some can make short term big bucks. My money is a true investment, so I look for low drawdowns for fair returns. But it does not help you pick somebody who has 1% DD and his return is 0.5%, let's say you want to get 5% from this person, can you calculate what the drawdown would be/could be...(homework)?

So DD% vs a good (better than average) historic returns% over a period of your choice should be your goal if you wish to grow your account slowly, but safely. I pick providers with max DD of 5% - 10% and then see, how long it has been trading, how often does it trade, are there long losing streaks and does it then martingale slowly or crazy. And I honestly can say that of the 7 providers that I have, only 2 are still under 'investigation', I am confident the other 5 will not go ballistic on loss (or win for that matter). Remember, very few are manual traders, most are EAs, but it is still a human who programs and sets the risks on it. Please DEMO first, can't stress that enough.

Also low DD filter only gives a handful of providers which narrows my choice. But remember is all relative once you use the multiplier for your trade account size and DD% will adjust as you change your risk.

And please do not think that others with a DD of higher than 5% are bad, there are some quality signals out there with drawdown of 15 -25%, just I personally can't handle it or afford it over time. Most accounts do not mind as they do not rely on it monthly/yearly like I do. Hope it helps, busy testing my own manual trading style and will be a provider in a couple months with 7% DD and monthly return of at least 15% based on $10 000 base.


If you go to bed worrying about your forex account... don't sleep. The worry never fades!
GermanyFX

Member Since Jul 31, 2018  188 posts STAR FX (GermanyFX) Oct 30 at 09:15
very good in-depth analysis very useful to those who wants to follow signal providers like me.

Thank you for posting such minute details.


FOREX Signal Provider
TraisiTrustFund

Member Since Sep 11, 2019  4 posts TraisiTrustFund Oct 30 at 12:37
GermanyFX posted:
very good in-depth analysis very useful to those who wants to follow signal providers like me.

Thank you for posting such minute details.



No probs, I just think some signal services deserve a bad reputation because they are based on marketing crap and untruths, even if 'rated' by reputable FX websites as 5 out of 5.

Then some really don't deserve it as the followers:-

1.) Manually close winning & losing positions, just prior it gives more win or turn-around, they don't let the trade run its course, they blame the service provider for their loss. If it is a loss it is a loss, that makes it exciting to watch its ups and downs. Leave that close trade button alone. But if you have a repeated bad provider week in week out, cut your losses and find something better.

2.) Underestimate the value of risk vs reward. If one has a $1000 dollar account and wish to double it every month, it will blow. To get 5% - 20% with low/medium risk is absolutely possible with Signalstart. Add to the balance if you have spare cash, no matter how small. Get 5% - 20% on that again, and it will grow.

3.) Do not do their homework in reading the history of a prospective provider again & again & again. Then compare it to others on the list. Which one can you handle mentally (& afford)?

4.) Learn how the market moves (and not permanently watch your wins/losses rise & crash). If I have screen time I either watch some educational stuff on forex (youtube has STACKS of good stuff... and crap too.. on forex) or just flick through all pairs and see strengths/weaknesses of the market/guess the next move of the market as it unfolds. We have to become independent from signals eventually.

Best thing about Signalstart it does not use 'copy master/slave' EAs, your acccount is just about hard linked, execution is fast and accurate if I compare with the provider's history or current open trades. Basta, now it is up to you.. make clever decisions, cheers... No mas, Money Maker.

If you go to bed worrying about your forex account... don't sleep. The worry never fades!
TraisiTrustFund

Member Since Sep 11, 2019  4 posts TraisiTrustFund Nov 10 at 13:23
I now have been subscribing for 2 weeks to signalservice.com. To make money the lazy way.

All I can say is... I made money - LOTS of it -, I made 20% but lost 30% of the profit on Friday i.e. made $10k lost 3k. I am extremely analytical and need to know why (there were no EXTREME fundamental bias at the time of loss except it was the dreaded FRIDAY, the week as such had many more ups & downs in news - BIG PROFIT during fundamentals because of volitility).

Of my 13, only one followed the drop in EURUSD, the rest fell with a bang on the concrete floor pricing the pair and correlations opposite, bg loss instead of close the positions. They will now rely on martingale to recover the loss, scary for Mon & Tue.

 Whatever you may deduce from the below, just know this: signalstart.com is the premium service for making money passively through subscribing to signals that have all history open for you to decide your own fate... or doom.

The signals that are most profitable (for short term i.e. 1 - 4 months), use martingale as a method of showing a high % of win. Even with 0.01, an EA will possibly multiply with each loss i.e. 0.01 -> 0.02 -> 0.04 -> 0.08 lots, some have more extreme multiplication. That does not seem like a train smash, but if an EA (or manual method) opens multiple positions the 0.01 and lose, they will open a sum of positions at 2.4 lots total after a very short time. You just wanted to subscribe to a low lot, right? Think again. And then you use a crazy multiplier factor.. check the provider's balance with his lots size, the do a calc to apply to yours. If you do not understand any of this... use a DEMO account first. Then play around with the factors, you will get it, I promise.

Read above posts about analyzing and reading history of trades, knowing history is the only way to make sure it doesn't happen again while you are in charge of your own destiny. I decided my own destiny is important, but this service is the best signal service, I enjoy the fruits, I want others to get 100% of what the purpose is of signalstart.com - TO MAKE MONEY, with as little as possible loss in between.

This weekend I looked at every single 800+ signal and realised martingale is the rise and fall of most of them. Period, ignore any comments they may write - they are lying 'no martingale or grid', use your magnifying glasss and inspect their history. They do well until the initial lot size is multiplied between 13 to 26 times to show a 80 -100% win, but a huge drawdown AND OPEN POSITIONS do not count to losing positions, but they can be 3 months in a drawdown already.. or a Black Swan crash (0,01 lots became something like 3 to 5 lots)... but nothing serious happened technically or fundamentally at the time of a specific lot increase, it is just keeps on adding to your losing position.

And then I found the gems, the ones that are not even ranked or low ranked. No martingale. They use the same or 'slightky elevated' lot size with drawdown LESS than the top 200 tier. Vary from prices $30 to $300, but their win rate is high, but profits do not spike, so they are never seen on your dashboard... they have some drawdown, sure, but not the same as a winning or losing top tier over the same period of time.

I am giving 10 new signals a bash the next 2 weeks to prove my point, if you win 70-80% and lose 30-20% you should make money right? Well, most probably if based on an EA with Martingale/Grid, you wont within 2-3 weeks. In fact you will crash your account.

Love signalstart.com. I will make $100k in 4 months, but means lots of homework... and heart attacks. I am confident in the service and wish all martingale provders luck, but know the high % overall-win guys will eventually win, the ones who chose a lot size and not get tempted in recovering the losses, those who chose a winning strategy/EA and keep faithfully believing in their strategy/modus operandi. I am inviting more followers to find you guys, who are extremely successful at proving a quality, and reliable signalstart.com provider service. WE will find you and pay your subscription (please not more than $100 tho'...!!)

Again, good luck all.

If you go to bed worrying about your forex account... don't sleep. The worry never fades!
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