Signal rankings are a joke - page 4

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Mohd Nur Amnan Shaipuddin:

 its still high risk if you deposit 10usd to become 1000usd in account, its not depend the amount of deposit, its depend on leverage you choose to trade. 1000usd standard not equal to 10usd cent even in mt4 amount show the same. risk still there if you dont follow the margin requirement to open a lot. 


The purpose of no cent account is to prevent people from creating hundreds of cent accounts to trade with different settings. Under such tactic, one of them is 100% guarantee hits a home run and he/she will sell the best performer as a signal.

if the initial deposit is raise to 1000usd, then the seller will need at least 100k usd in order to create hundred of accounts to cheat. It will be risky to recover his/her cost hence reduce the chances that the sellers cheat you this way.

Allowing cent account to sell signal might as well allowing demo account to sell signal since both of them virtually carry no risk to the seller.

 
Meng Yin Teoh:


The purpose of no cent account is to prevent people from creating hundreds of cent accounts to trade with different settings. Under such tactic, one of them is 100% guarantee hits a home run and he/she will sell the best performer as a signal.

if the initial deposit is raise to 1000usd, then the seller will need at least 100k usd in order to create hundred of accounts to cheat. It will be risky to recover his/her cost hence reduce the chances that the sellers cheat you this way.

Allowing cent account to sell signal might as well allowing demo account to sell signal since both of them virtually carry no risk to the seller.


I am in the same side with you BUt keep in mind that the 1st account here with the most followers is a cent account! People must be responsible and dont follow someone that came out of nowhere with just a few weeks experience that tries to sell a signal. I would never trust my money to someone that cannot prove a long term trading record (more than 1 year) even if he has 1million account in balance. So think about the following scenario

Trader A has 100eur balance and 50weeks trading record with 30% DD and 500% gains

Trader B has 100.000eur acc with 5 weeks tr and 25% and 50% gains...

which of the 2 u would follow

I believe you got my point now ;)

 
I've noticed that quite a few of the "top" signals are down significantly this month. Seems like all the top signals eventually have an out of control drawdown and then blow up.
 
If I may suggest, it is much better if MQL5 admin wont allow providers that uses high risk strategies, such as martingale, grid, huge or no SL or bad RR  strategies in this way subscribers funds will be safe from such providers, there are many providers that implement such strategies only to perform better in a few of months but wipes out subscribers fund later in the succeeding months.They are just after for the subscription fee but not actually for the welfare of the subscribers.
 
The subscribers always flock to the signal providers with the highest profits. Higher profits means higher drawdown, higher risk, riskier systems. And because subscribers always do that, more and more signal providers feel they have to be risky to make any money. The safe signal providers make no money.
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