My filtering criteria for MT4 signal service. What's your opinion?

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First of all, the live period is NO#1 importance condition, so I ignore all signals that less than 3 months.

Other criterias:

1. Profit per month: 5% up

2. Max DD: Less than 25%

3. Profit trades(won rate): 40% up

4. Init. Deposit: Max $10,000 for DEMO type account. For REAL account, it's very easy to trick, some providers deposit small money, but after few deals, they deposit huge money.

5. Trades per week: 5-100. If rare deal, I can't wait for long time; if too much, usually it's scalping, the refresh rate of MQL4/5 signal service doesn't sync in time.

6. Subscribers: 0-1000.

7. Subscription fee: 0-100.

What's your best filtering criteria?


 

Hi, interesting topic, can you share why subscribers number is not so relevant to you?

Also, if you want to share your opinion too, don't you consider a lower initial balance a bigger challenge to the provider and an easy way to copy signals?

Thanks in advance.

 

Hi figurelli,

i think that the subscribers number is not a good filtering criteria, one can miss a good new signals if it does not have many subscribers at the beginning. Subscribers number is more appropriate to support our final choice between few filtered signals.

 same thing for initial balance.

 

Good pips for all ^^ 

 
GLP:

Hi figurelli,

i think that the subscribers number is not a good filtering criteria, one can miss a good new signals if it does not have many subscribers at the beginning. Subscribers number is more appropriate to support our final choice between few filtered signals.

 same thing for initial balance.

 

Good pips for all ^^ 

Hi GLP, regarding subscribers, good point, I agree with you, there is an inertia, even for traders go in, and go out.

However, for 'long time alive' signal, this can be a relevant indicator.

Thanks for sharing.  

 

I would look for the percentage Wins

Average Money won versus Average Money Loss

Max DD

% growth /mth and year

 

Number of subscribers is not a very good indicator, because people tend to move like herds between providers, who do not necessarily fit your personal taste in trading signals. Just as an example, many people might be tempted to join a subscriber who has a large % profit, ignoring the a large drawdown.

 
Growth and Max DD
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