How to find best signal on MQL5

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Muhammad Shahid
827
Muhammad Shahid  

After 5 years of Forex experience i have seen many signals with great history blowing the account and innocent investors losing their money. I would like to share some of my lesson learned which will help you to find good signal and avoid dangerous signals. In my options you should consider following before subscribing.

1. Funds: Don't trust any signal with low starting deposit or low balance or cent account because it proves that signal master by himself is not confident on his strategy or system therefore he can not risk his own money.

2. Signal History: Be ware of new signals with high growth for couple of month. At least one year history and presence is necessary as a signal provider. Dont trust any signal with long history but newly appeared on MQL5.

3. Draw down: Historical draw down should not be more than 10% to 15%

4. Strategy: Watch carefully signal trades if he is using martingale or averaging, if yes then keep away.

5. Follow the above criteria and dont look number of subscribers or funds because most of the people just look for DD and history only.

Attila Alp Oğuz
190
Attila Alp Oğuz  

Among MT5 signals, there are only two signals with a drawdown less than 15 % and operating more than 52 weeks ...

And the overall growth of one of them is 9 % for more than two years ... and the other has 5 % growth rate for nearly the same period.


I think that the signal service, in its present state, is a playground for unexperienced newbie traders and coders without any or enough trading experience presenting their smart and no loss !! martingale/hedging systems.

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