It is quite obvious that just choosing one of TOP10 signals is not enough (we all remember how has ended up DELTA and many other former leaders of MQL5 rating). But what should we then check before subscribing to the signal? Unfortunately, most of subscribers only check 3 parameters of the signal: 1) growth, 2) maximum drawdown and 3) visual attractiveness of the growth graph. Those 3 things are important, but you should definitely pay attention to some other details too:
1. worst trade
regardless of what signal provider is promising, you should always be ready to lose that much money in one trade. Also, you should compare values of the worst trade and the best trade - it is not good if trader has lost much more money in his/her worst trade than managed to earn in his/her best trade
2. average profit and average lost
it is not good if average lost is much greater than average profit - it means that trader is not able to find good entries and is forced to use big StopLoss'es and small TakeProfit's
3. balance/equity graph
it is not good if equity (green line) is lower than the balance (blue line) most of the time - it means that trader is not able to find good entries and is just opening the trade and waiting when (if) the price goes to chosen direction:
Hope this small tutorial will help somebody. Thanks for the attention!
Statistics telleth the system, you have a valid point, why else would anyone take the plunge, would you look at losses, if there were lots and assume a bad system, and the opposite, wins and lots made a good system, a draw down to get anywhere is important, also how long are the trades, some signal providers are in the same trades for weeks, but the value and why they look appealing is there are so many trades open, the profitable ones closing make a great equity curve.
I think you have to look at growth, time, ratio, drawdown.
I have seen so many systems that need in excess of $3000 starting balance, for me, as system starting with $100 has a wider and better chance of subscribers, even some "tyre kickers" may get involved and sure be it, would be an easier pill if lost.
Just my thoughts.
in my humble opinion there are some additional fine reasons why one signals have many subscribers
and other with the same features don't have at all...