My disappointment after follow Signal Provider

[Widy Prasetyo]

Signal Provider is becoming interesting trend among forex traders. Many people interested to become a Signal Provider and also other people interested to copy/follow.

But often Signal Provider at first looks good, but suddenly after a while its Performance worsened.

Does anyone of you ever felt this way? and maybe some of you also loosing all money?

[Ovidiu Caslariu]

Entered a signal when it was moving pretty good and in less than a week it failed, ruining all the capital. The money from subscribers got over 20k so it was pretty profitable for him, but not for the followers.

I would opt in for a steady signal with more than a year working and active.

[Widy Prasetyo]

MetaSky:

Entered a signal when it was moving pretty good and in less than a week it failed, ruining all the capital. The money from subscribers got over 20k so it was pretty profitable for him, but not for the followers.

I would opt in for a steady signal with more than a year working and active.

yes, that's one of reason I create this topic. I see people complaining their Signal Provider (also in other forum).
Often I feel Signal Provider takes benefit from subscription fee.

so far, this polling reach 23 votes and mostly (8 people) get small profit.
Others (7 people) already suffered up to 100% losses.

I hope people can learn something here, so in next day there will be no more dissapoinment.
So voter, lets discuss here, what & why your reason copying your Signal Provider?
How about you MetaSky, do you copy Signal too?

Please do not mention any Signal Provider name here.... This thread is not for advertise or disfigured any Signal Provider.

[Izzatilla Ikramov]

I remember when I lost 100% with Signal provider. He was a new trader (new signal) and I thought He has a perspective.

It was not big money - I think I bought an experience with it.

I respect signals managed by people or mixed systems. And I prefer signals which have fixed stop loss and take profit levels.

[[Deleted]]

izzatilla:

I remember when I lost 100% with Signal provider. He was a new trader (new signal) and I thought He has a perspective.

It was not big money - I think I bought an experience with it.

I respect signals managed by people or mixed systems. And I prefer signals which have fixed stop loss and take profit levels.

yes , and me too like you

[Izzatilla Ikramov]

samimaps:
yes , and me too like you

I agree with widhie75, and I saw how a great Signal provider broke his rules (he did not use stop loss only one time) and as a result lost all his and investors deposits. So rule #2 the DD should be less than 10-15%, and the risk should be less than 0.05% per trade. It is my view only.

[Widy Prasetyo]

izzatilla:

I agree with widhie75, and I saw how a great Signal provider broke his rules (he did not use stop loss only one time) and as a result lost all his and investors deposits. So rule #2 the DD should be less than 10-15%, and the risk should be less than 0.05% per trade. It is my view only.

So, we learn something here...

Stop Loss is one of important thing to trade.... Without stop loss, risk can be grow until 100% and it will make us hopeless to trade or following other signal.
lucky it's not big money...

Without stop loss, Signal Provider doesn't use Margin Management. If floating loss happened, they just hope market will turn back again and turn floating loss into profit.... sometimes it work, but at some point it just make our account MC.

Smaller DD is also very good to identify that Signal Provider good or not... 10-15% is small.... but is it ok if every trade risk is less than 0.05% ???

Is it too small ? ..... any comment?

[Izzatilla Ikramov]

widhie75:

...

Smaller DD is also very good to identify that Signal Provider good or not... 10-15% is small.... but is it ok if every trade risk is less than 0.05% ???

Is it too small ? ..... any comment?

Sometimes seems it is too small, but if you have a bigger deposit - it is ok. I know that 0.05% will be great for me - but usually I use about 1-5% with small deposit. That is why to be more richer for rich-men is much easy, otherwise for poor-man.  

[Widy Prasetyo]

I see today one person vote "No dissapointment", because he already get more than 100% profit (Total 6 person have good profit here)....
That's what I call a "real profit",,, profit less than 100%, it's not really profit, because maybe next week Signal Provider could make mistake and turn our profit into big loss, who knows?

So, for people who already got more than 100% profit,,,, would you share with us, how you choose your Signal Provider?

[Widy Prasetyo]

izzatilla:
Sometimes seems it is too small, but if you have a bigger deposit - it is ok. I know that 0.05% will be great for me - but usually I use about 1-5% with small deposit. That is why to be more richer for rich-men is much easy, otherwise for poor-man.  

Do you think rich men is much easy to be richer in forex?

Well, according the most voter here, now they experience loosing more than 50% of their money.
So, I think there more lot factor to affect how become rich or become poor in forex.

It's true bigger deposit will gain biger profit.. IF we follow really good Signal Provider.
otherwise, we all are same poor cause loosing money.

So, I hope in next post, I able to analyze some Signal here... and also we can discuss how safe their trading.
The name of Signal Provider will remain undisclosed.