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Christophe Duhamel
HOW TO CHOOSE A SIGNAL / PRODUCT
I feel sad to see so much people losing their money so easily, and then they feel frustrated or devastated.
They even may feel a little bit responsible because they choose the wrong signal / product.
This is why I want to give you the non-exhaustive list of my rules for the beginners or intermediate mql5 subscribers when they choose a signal / product:
- Rule 1: Forget your losts and do not try to go straight to another signal / product. Take your time.
- Rule 2: Do not believe to sellers that believe too much. Ok, a seller needs to be confident with his product, but read between the lines. Prefer the descriptions that look more professional.
- Rule 3: Do not trust 100% algo systems that have only 2 or 3 years of backtests. Prefer signals who provide full tick data backtests 2010-2019.
- Rule 4: 0% algo systems can be a good alternative if the trader is serious.
- Rule 5: Do not subscribe to signals that have too large drawdowns. Check the max equity and balance drawdown (Risks tab). A good signal with low / medium risk should never exceed 20% of the max equity drawdown.
- Rule 6: Be smart, not greedy. Like manual trading, if you are greedy, you will lose, soon or later, it is just a question of time.
- Rule 7: Do not buy an expensive product (indicator or EA) that professionals would not use for free. More expensive does not mean more efficient (and often it is the opposite).
- Rule 8: Do not trust the reviews of products. Some sellers force the buyers to put 5 stars under certain conditions. Same thing, read between the lines.
- Rule 9: Be suspicious about the sellers that improve the price of their signal when the number of subscribers increases significantly. They often do this because they know that their signal is in survival mode.
- Rule 10: Choose a signal with a consequent balance. Often, a signal with a small balance means that the seller does not believe enough in his system.
- Rule 11: Be suspicious with signals that grow up too much because they never survive in the long term, even if you can win in the short term. They are built to catch the subscribers.
Hope you like it. I will update the list if you are interested.
I feel sad to see so much people losing their money so easily, and then they feel frustrated or devastated.
They even may feel a little bit responsible because they choose the wrong signal / product.
This is why I want to give you the non-exhaustive list of my rules for the beginners or intermediate mql5 subscribers when they choose a signal / product:
- Rule 1: Forget your losts and do not try to go straight to another signal / product. Take your time.
- Rule 2: Do not believe to sellers that believe too much. Ok, a seller needs to be confident with his product, but read between the lines. Prefer the descriptions that look more professional.
- Rule 3: Do not trust 100% algo systems that have only 2 or 3 years of backtests. Prefer signals who provide full tick data backtests 2010-2019.
- Rule 4: 0% algo systems can be a good alternative if the trader is serious.
- Rule 5: Do not subscribe to signals that have too large drawdowns. Check the max equity and balance drawdown (Risks tab). A good signal with low / medium risk should never exceed 20% of the max equity drawdown.
- Rule 6: Be smart, not greedy. Like manual trading, if you are greedy, you will lose, soon or later, it is just a question of time.
- Rule 7: Do not buy an expensive product (indicator or EA) that professionals would not use for free. More expensive does not mean more efficient (and often it is the opposite).
- Rule 8: Do not trust the reviews of products. Some sellers force the buyers to put 5 stars under certain conditions. Same thing, read between the lines.
- Rule 9: Be suspicious about the sellers that improve the price of their signal when the number of subscribers increases significantly. They often do this because they know that their signal is in survival mode.
- Rule 10: Choose a signal with a consequent balance. Often, a signal with a small balance means that the seller does not believe enough in his system.
- Rule 11: Be suspicious with signals that grow up too much because they never survive in the long term, even if you can win in the short term. They are built to catch the subscribers.
Hope you like it. I will update the list if you are interested.
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