Extreme (dangerous) signals - page 2
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Ras risks
Folks,
this following text is copied from the RAS HP:
For Traders
A completely new automatic trading system
This unique new online trading system allows you to choose the trades from only the best of the top ranked expert traders.
Take the advice from talented professional traders from around the world. Turn their trades into an expertly and quickly executed trade, that is done automatically in your account (from supported brokers).
Of course, we can not guarantee any future results for traders, but our main goal is to provide an honest service which audits performance of traders and ranks them in a manner that allows you to easily pick the ones that are appealing to you.
Are you tired of monitoring the market for good trades and the headache of all the work involved? Now, there is no need to study and monitor the market for great picks! Rentasignal uses well known experts from around the globe to do it all for you. You just choose your favorite experts and rentasignal will turn their advice into quick live trades in your trade account.
All you are required to have on your end is a Forex account that supports Metatrader software. Once installed, our expert advisor will automatically update you about Forex alerts. It will even execute recommended actions if you desire it to do them for you.
Simply sign up for an account at rentasignal and then pick the signals that you wish to subscribe to. Then you will be able to download the necessary software to allow your Metatrader to automatically function based on the signals it will receive.
Rentasignal receives all signals from sellers in real time and the exact time in which the signal is launched is reported. We make regular frequent checks to guarantee that the reported price is correct. Unfortunately, no one can guarantee that the results will be exactly the same in your account or that an investor will continually be profitable. Therefore, all trades must be considered hypothetical.
This implies that only Professional/Expert traders are selling signals.
IMHO there are too many novice traders/subscribers in FX, who simply follow figures like "Total Dollars" and trade systems without Demo testing at first and simply do not have the expertise to judge the risk level of a particular system.
That must be emphasized by the RAS website with in depth features.
That was my main point.
I know, the RAS folks are working on this.
Janus
I have noticed that alot of the subscribers to all the RAS signals, are looking for get rich quick schemes, or to make millions in a minute. Of course, I am not one to judge them, but if any system trades without a stop loss, that is a stop loss for EVERY position. Then they are destined to fail, or they are using such low risk, that you might as well invest in some bluechips and hold.
The real people who understand the market, appreciate good risk reward and understand the way things work. Unfortunately, most people who sign up for signals do not understand this. And that is their problem.
Hi pakpips, your signals wiped out my live account...i followed your instructions word to word...i allowed an additional safety factor also- just in ase...but it still wiped out my account...
In my opinion, no one to blame.
If you cant afford to lose then you cant win.
Seriously,pakpips doesnt responsible for any loss.(he never said guaranteed I guess)
On your side,you should atleast demo the signal first at least 1-2month.
Experience with my Subscribers
Folks,
after beeing a signal vendor for more than 3 months now, here is my experience:
1.Subscribers do not like a SL, since many hate to take a loss
2.Subscribers get very nervous/angry, if a system has some losing trades in a row
3.Subscribers seem to do signal hopping, hoping to find one which makes them rich very fast with no losses along the way and no Drawdown at all.
4.Subscribers do not communicate with system sellers
5.Subscribers seem to be even unhappy with returns of 5-10% per month over a several month history
All i can say:
Folks, get real.
RAS provides some good and profitable FX signals from experienced and talented traders.
Looks like, among these RAS vendors, some are in the 5% category of traders , who win in the FX market.
If that is not enough icing on the cake, than what is?
Janus
Janus,
I agree with your first post in this topic, and see absolutely no reason why that information should not be posted. We are trying to have a service that helps people make money, not lose money, for whatever reason. Why try to hide or make difficult to discover information that could be transparent for all signals.
Maybe people don't like a losing trade, but they sure don't like a blown up account when not expected.
Some of these things may seem obvious to experienced traders, but then experienced traders would be less likely to use a signal in any case.
Demoing may well be one thing, but if that information that would be obtained through the demo was already available historically through the signal stats, then it's going to save a lot of time...particularly when you have to pay to demo anyway.