Filtering Orders from Signal Provider

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eseubert
243
eseubert  

I have a signal provider that trades in about 12 currency pairs, but I only want to trade in three pairs.  Is their a utility I can add which will filter my signal providers trades and only place orders for the three currency pairs I want to trade?  I am new to this so any help is greatly appreciated.

EJS

Fernando Carreiro
4262
Fernando Carreiro  
eseubert: I have a signal provider that trades in about 12 currency pairs, but I only want to trade in three pairs.  Is their a utility I can add which will filter my signal providers trades and only place orders for the three currency pairs I want to trade?  I am new to this so any help is greatly appreciated. EJS

No. If you try to close trades, it will just reopen them again. You have to use a Signal as is and not have anything else happening on that account. That is just how signals work.

The only way to overcome this is to have the Signal active and subscribed to a "demo" account and then have a Trade Coping mechanism, copy only those trades you want onto to other final account. But there will be delays in the "coping" mechanism and you will also have to compensate for different balances and volume adjustments.

Besides, the original signal's metrics such as Profit Factor, Recovery and Draw-down are based on all the the symbols being traded. If you limit it to just a few symbols, you could totally upset the strategy resulting in totally different metrics and profitability.

eseubert
243
eseubert  
Fernando Carreiro:

No. If you try to close trades, it will just reopen them again. You have to use a Signal as is and not have anything else happening on that account. That is just how signals work.

The only way to overcome this is to have the Signal active and subscribed to a "demo" account and then have a Trade Coping mechanism, copy only those trades you want onto to other final account. But there will be delays in the "coping" mechanism and you will also have to compensate for different balances and volume adjustments.

Besides, the original signal's metrics such as Profit Factor, Recovery and Draw-down are based on all the the symbols being traded. If you limit it to just a few symbols, you could totally upset the strategy resulting in totally different metrics and profitability.


Thank you for your reply.  Very good thoughts...  This helps me greatly.

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