Some Ideas to Select Trading Signals - page 2
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Hi figurelli,
Are you same figurelli which I knew from some other forum/related trading signals? If yes so - I am same newdigital :) If yes so you know that selecting good signals - it is what I like a lot ... because I did it in past on some other forum and supported the guys who provided this learning information.
But please - a little patience. Everything is developed in good way here. A little slowly but in right way.
Hi figurelli,
Are you same figurelli which I knew from some other forum/related trading signals? If yes so - I am same newdigital :) If yes so you know that selecting good signals - it is what I like a lot ... because I did it in past on some other forum and supported the guys who provided this learning information.
But please - a little patience. Everything is developed in good way here. A little slowly but in right way.
Hi newdigital,
No, I don't post in other forums about, it must be another guy with the same surname and probably from other country.
Note, I'm not impatient, it was just my opinion about.
Anyway, thanks for sharing your ideas here.
How are you?
How are you?
Yes, good idea about an article.
Bah Tchê!
...
"without to pull the grilled sardine for his side."
....
Hi Paulo,
Thank you for sharing your ideas and suggestion.
As you mentioned "Tchê"*, better change "sardine" by "churrasco"** (this is not a merchandise) ;-)
About this expressions (for those who do not understand it or want to know more):
*Tchê is a quite popular expression used in the south Brazil state, Rio Grande do Sul.
**Churrasco is a prominent feature in the south Brazil cuisine and we have a famous serving style called "espeto corrido" or "rodízio", that it's quite popular in several international restaurants.
Best regards.
If you google the expression "methodology for trading signals selection" you will reach this thread in the first place. This proves the relevance of this forum and, for sure, this subject (and lack of information about that).
In my view, mql5.com rating and quality control for signals is key for the first steps of trading signals selection.
But, what are the best methodologies? This is for me a complex and very dynamic problem, and very relevant for anyone that develops technology in this area, since in my vision investors must create their own methodology to reach better results.
So, if you don't have your own methodology for selection, remember the rating relevance, i.e. my recommendation is start with mql5.com rating, using the high experience of MQ in this area.
The main point here is not just create your methodology, but create an efficient methodology.
As a quant researcher, in my opinion to do this we must create metrics.
For instance, my suggestion is create a quantitative system to measure the efficacy of any methodology using a simple table as below:
In this table you must register the Top trading signals of your methodology (for instance, I'm using MT5, Demo Accounts and MQL5 Rating to select the best trading signals) and initial measured Growth.
After a period that you must define enough to check the metrics, you will compare the initial and final Growth to get the Growth Difference.
Then you can sum the Growth Difference values and have an final Methodology Growth.
I will complete this example with real results next week, so we can generate a first analysis complete case.
If you do this for others methodologies, for example using MT4, Real Accounts, Growth, Subscribers, etc., you will have several scores to compare the efficacy each other.
My idea is compare some of this scores here to contribute is this sense, so feel free to give some suggestions about wath indicatores you think are relevant to do it.
If you know some similar and public approach they are very welcome and we can improve my approach.
Figurelli, I think this is a wonderful thread, and I am glad you started it. Obrigado.
I see that MQL5 now has their own "rating" filter for system observation and selection. Congratulations to them for getting this set up:
How much of their algorithm might they be willing to share? Face it, in any organization or system the behavior that is rewarded is the one that gets reinforced.
So we can talk all day long on this forum, but the guys who most closely match their manual or EA trading performance to the MQL5 algorithm are the ones who will probably see the most subscribers.
This being said, there are an infinite number of ways for people to select their systems since everyone has different risk and profit objectives. So I still think this thread is highly relevant.
And I think the signal providers and followers that best answer these two questions will be the most $ucce$$ful.
(A) "What do signal followers really need and want?"
(B) "How can a signal provider best meet those needs and wants?"
As a community I think we can positively impact the success of the signal service on MQL5.
If we openly discuss the pros and cons of various trading styles and money management methods and how they relate to (A) above, then
I have my thoughts on (A) and (B) above, and will share them soon.
Figurelli, I think this is a wonderful thread, and I am glad you started it. Obrigado.
I see that MQL5 now has their own "rating" filter for system observation and selection. Congratulations to them for getting this set up:
How much of their algorithm might they be willing to share? Face it, in any organization or system the behavior that is rewarded is the one that gets reinforced.
So we can talk all day long on this forum, but the guys who most closely match their manual or EA trading performance to the MQL5 algorithm are the ones who will probably see the most subscribers.
This being said, there are an infinite number of ways for people to select their systems since everyone has different risk and profit objectives. So I still think this thread is highly relevant.
And I think the signal providers and followers that best answer these two questions will be the most $ucce$$ful.
(A) "What do signal followers really need and want?"
(B) "How can a signal provider best meet those needs and wants?"
As a community I think we can positively impact the success of the signal service on MQL5.
If we openly discuss the pros and cons of various trading styles and money management methods and how they relate to (A) above, then
I have my thoughts on (A) and (B) above, and will share them soon.
(A) "What do signal followers really need and want?"
What do followers need?
Don't lose my money!!!
What do they then want?
Then, make me some more. (And, don't take too much risk. I am very satisfied with small steady gains.)
It really is this simple. They are following because they don't have time or the desire or ability to trade the FX market but they think it is a great place to diversify their portfolio.When they come back from work, or wake up in the morning, they want to see that they still have an account and they hope it has increased in size at least a few pips.
However, because of the interplay of fear and greed on the part of the follower AND the provider, helping the subscriber meet both his needs and wants is a task fraught with peril, which is why I think it is worth discussing here.