Discussion of article "Trading Signals in MetaTrader 5: A Better Alternative to PAMM Accounts!" - page 6
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
In my opinion, it is too loud a statement.
I believe (I am completely sure of it) that SIGNALS will not be able to "kill" or somehow affect PAMMs strongly enough.
As usual, 2-3 more builds will be released and the issue will be closed.
Work on expanding the functionality of the signals service is going on daily. For example, last week the latest builds of MT4 451 and MT5 742 added new features.
As usual, 2-3 more builds will be released and the issue will be closed.
We are working on expanding the functionality of the signals service on a daily basis. For example, last week the latest builds of MT4 451 and MT5 742 added new features.
When are you planning to make advanced selection/search by signals on the site?
Yes, we will.
There are still a lot of new features to be implemented.
It would be nice to add (if they haven't already) the possibility to trade in case of symbols difference between the supplier and broker. Something like manual setting(EURUSD -> EURUSD.ololo).
Also the possibility of copying lots different from the supplier in X times, because the supplier with 10k quid on his account has bigger lots than the receiver with 100 dollars.
It would be nice to add (if they haven't already) the possibility to trade in case of symbols difference between the supplier and broker. Something like manual setting (EURUSD -> EURUSD.ololo).
Also the possibility of copying lots different from the supplier in X times, because the supplier with 10k quid on his account has bigger lots than the receiver with 100 dollars.
It works automatically.
with a small caveat that if there is omomo in addition to ololo, there will be no trade
These formulas must be definitely highlighted and described.
it is not a secret. as the trader must understand what lot he will get.
Signal service is a very good innovation, but it is not a competitor to PAMMs, as there have been signals before, and I think they have slightly different clientele - PAMMs and signals.
Clients will always prefer an individual trader-manager to work with their money rather than an impersonal signal provider. After all, PAMMs are just a convenient shell for trust management.
If MKs will bring the service "Signals" to the state, about which Renat spoke, - PAMM-ams are dead.
1. The client is interested in Profit, not the one who brings it: PAMM or "Signals";
2. To pay $(10, 20, 100 ......) per month than 20 - 50% of profit is a very significant advantage of "Signals" service over the service of PAMM-accounts.
3. PAMM-accounts do not have a serious barrier for screening out swindlers, and MK promises to establish it.
4. The client of "Signals" can disconnect from the service at any second, unlike PAMM-accounts, where there are rollovers.
We can continue to list the reasons, but this is enough. The main thing is that traders would broadcast their signals. If MKs are able to interest normal (not dummies with demo) traders to supply their signals to the service - PAMMs are dead.
Well, since you decided to answer, we can go through the points. If you have any other points, we can discuss them.
1) It is undeniable, but it does not explain why investors should abruptly switch from PAMMs to signals.
2) In PAMMs an investor pays something only if there is profit, and pays only from this profit, if there is no profit, he does not pay anything. Moreover, if he has already paid a percentage of profit, in case of drawdown he does not pay for it again until the maximum profitability is renewed.Imagine, the account is in drawdown for several months (a common situation), in PAMM the investor does not pay anything while waiting for the drawdown to come out, but in signal he pays his fee for each month. What kind of advantage is this? In my opinion, it is the opposite advantage of PAMMs, at least psychological: the investor does not know whether the connection will be useful or not, but in PAMMs he does not have to pay anything for connection, but only promises to pay from the profit, if it will be.
3) It depends on what you mean by "swindlers". As if in the end there was not created such a filter, which more hinders the interests of investors, screening out the lion's share of accounts that could be successful, than protects their interests.
4) This is indeed a problem of PAMMs, but advanced companies providing PAMMs are thinking about eliminating this disadvantage, so it may be levelled in the near future.
For good traders to start broadcasting their signals they have to see the profit in it, so far I personally see 4 disadvantages:
1) Profit from a good trade on a trading platform is not comparable to the profit from the same trade on a signal service; Profit in any case should be commensurate with the amount of funds under management - it is logical, who will agree to profitably manage someone else's account with hundreds of thousands for a pittance? Making money out of thin air is a very exclusive ability, which should be paid as exclusively.
2) The need to open the history of their transactions for investors (as I understand it is now mandatory for each signal provider, and not only investors, but also any passerby can see all the transactions of all providers - or not?). - No matter what anyone says, but a lot of good traders for this reason will prefer the service where the history of trades is not necessary to open.
3) As well as for example pams have a problem with the fact that it is most often impossible to terminate the subscription instantly, so also any signals have a problem with the fact that your signals can simply copy, connecting to you either on demo or on a small real (or in general steal from the site, if they are updated there without delays).
4) And what is important - the need to pay a commission on profits (20% is cool), while on the pommes you do not have to pay anything to the broker.
Fucking hell. When will you (storytellers) have a conscience? With a deposit of $40 you are talking about thousands of pips a day. Take a loan from the bank at least $1000 and demonstrate your skill and the skill of your TS. Potential subscribers will calculate how many pips per day your TS brings. But you do not want to risk your money, you want subscribers at once.
Excuse me, but don't you think that your demands are a bit high? Maybe the man is just getting on the path of truth. Maybe in a month he will have a deposit of $1000 and everything will be fine.
And you so immediately, at the root - "... Fuck. When will you (storytellers) have a conscience? ...". Do you want all the signals to hit with reals, and even with a deposit of at least $1000?
No, to help with a kind word, good job, keep up the good work, to raise the provider's spirit, so that he does not think that all the cool traders with at least $1000 in their accounts are here. Anyway, subscribers will not read a post somewhere on the forum about some signal, I think it will be more important to them the information that is on the signal page.
Where else would they train? Your right to subscribe or not, nobody is forcing you.
With such intentions you can disperse all signal providers.
PS. Nothing personal.
>> I don't agree with your arguments about fees because all this talk about managing hundreds of thousands ends in one thing - a drain.
If they end up with that (a priori negative expectation), then the only cure is not to invest at all. Everything else will not help. And all the more so if your words are relevant, then it is relevant for the investor to pay only from the profit, if there will be any.
>> Where are these "legends" of trading, who are able to withstand account management for several years.
There are some out there, although they are few. But in general, most often (in the same 80% of cases) such pams are merged, predicting the merging of which was not difficult at all. So, having an adequate investment strategy, it is quite possible not to lose at least.
>> By the way, on PAMM-service the history is not shown and the number of subscribers does not decrease.
On PAMM the manager has an opportunity to switch on/off the display of deals, and with a specified delay (an hour, a day, a week, a month). And they are visible only to real investors.
Although there are brokers who decided to make the whole history of pommies and their transactions public by posting it on myfxbook. However, many managers do not go to their service because of this. PAMM is just a wrapper for DM. If they start dictating conditions that are not convenient for traders, no one will go to them.