Discussion of article "How to Subscribe to Trading Signals" - page 47
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
How can I cashed out
Contact your broker.
My web terminal it doesn't want to open
Restart your browser and try again or try with another browser.
Restart your computer if the issue persists.
Can I use the signals on a live account or only demo?
Can I use the signal on a live account?
Answered many times before... you can subscribe to a free demo signal with a demo trading account only and to a paid signal with a demo or real trading account.
Apologies if this has been answered before but I could not find a recent answer to this.
If I decide NOT to renew the subscription for a signal provider (say poor performance in my account) and the signal provider has opened a significant number of positions in the past few days (in my account now 20 open positions!) does the Signal provider still manage those positions after the end of subscription? (For example if one subscribes to signals on signalstart.com this is what they do; they monitor the open positions, and close them when the system would close them, even after subscription ends - nice!)
Not sure if I am allowed to mention the name of the actual signal in question here? (I suspect not) But it is quite a "big player" here with more than 130 subscribers, this signal has been running - profitably - for 2.5 years (until now). Note, due to huge number of trades opened against the trend, the signal provider has gone into quite significant drawdown; and there is a message "subscription not permitted", so it seems I could not even continue with the subscription, even if I wanted??or do I now need to manage these positions manually myself? would not be that nice, after all I am not the "forex expert" but - one would have hoped - the signal provider is!
Apologies if this has been answered before but I could not find a recent answer to this.
If I decide NOT to renew the subscription for a signal provider (say poor performance in my account) and the signal provider has opened a significant number of positions in the past few days (in my account now 20 open positions!) does the Signal provider still manage those positions after the end of subscription? (For example if one subscribes to signals on signalstart.com this is what they do; they monitor the open positions, and close them when the system would close them, even after subscription ends - nice!)
Not sure if I am allowed to mention the name of the actual signal in question here? (I suspect not) But it is quite a "big player" here with more than 130 subscribers, this signal has been running - profitably - for 2.5 years (until now). Note, due to huge number of trades opened against the trend, the signal provider has gone into quite significant drawdown; and there is a message "subscription not permitted", so it seems I could not even continue with the subscription, even if I wanted??or do I now need to manage these positions manually myself? would not be that nice, after all I am not the "forex expert" but - one would have hoped - the signal provider is!
No, if your subscription expires and you still have open trades, you will need to manage them manually yourself.
No, if your subscription expires and you still have open trades, you will need to manage them manually yourself.
perhaps something that MQL5.com could consider?
Would it not be an idea to - like for example signalstart does - for the provider to manage the existing positions until they are all closed? obviously not to add more/new positions but to close them at the "right" time. (like mentioned, I ended up with 20 open positions after subscription finished, almost all of them in significant drawdown) I am sure that would not be a major issue for the provider(s) and would be more "subscriber-friendly".
perhaps something that MQL5.com could consider?
An opposite view in that opinion would be that the subscriber that got you in that mess, will not manage these open trades well enough, giving you more 'pain' in the process.
As I see it, when you decide to stop a signal subscription, you should take things into your own hands.
Well, I am not so sure about this.
I don't mind managing perhaps 2-3 open positions, but 20?? - also... the system in question, soon after I stopped subscribing some of the positions in one currency pair temporarily were in profit and the system (I am sure correctly) closed these with a small profit. I am simply not able to monitor the market say every hour to see what the situation is... otherwise I would not need to subscribe to a signal in the first place! so I now missed that opportunity to close at least some of the positions with profit as these positions now have also gone into deep drawdown.I personally think that MQL5 should at least offer the option that when one stops subscribing that the system continues to manage existing positions until they are closed. Perhaps not everyone would want that - one then can simply disable autotrade;) - but I think MQL5 should follow the example of signalstart in this!