Prop Firms and Signals
I have a question about signals.
I have been trading on my own, but as of right now I am only a break even trader.. I get into some profit then take a series of losses and need to work hard to make it back.
I found a reputable signal provider to follow trade ideas so I can boost my profitability, but I heard prop firms do not allow this and if they find that you have the same trades as another they may deny a payout.
Does anyone know of any trouble with prop firms and signals? I was thinking if I only take some trades and leave others they will not know. Or maybe if the trades are mixed with the signals and my own trades they will not know.
Any advice is appreciated!
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Marcel Mase: I have a question about signals. I have been trading on my own, but as of right now I am only a break even trader.. I get into some profit then take a series of losses and need to work hard to make it back. I found a reputable signal provider to follow trade ideas so I can boost my profitability, but I heard prop firms do not allow this and if they find that you have the same trades as another they may deny a payout. Does anyone know of any trouble with prop firms and signals? I was thinking if I only take some trades and leave others they will not know. Or maybe if the trades are mixed with the signals and my own trades they will not know. Any advice is appreciated!
Most prop-firms want to attract real traders that know what they are doing and are consistently profitable, so that they can be an asset to companies in the long term.
The fact that you are not consistently profitable and have to depend on a signal is of no interest to them. They can just follow the signal themselves if they wanted to.
So, for those prop-firms, if you try to cheat, then you deserve to be in trouble.
So, find a prop-firm that actually allows signal following, and don't try to "cheat" the system. You will only end up loosing your fees.
Or better still, invest in yourself and learn to become a profitable trader.
