Would any of you like to do business together?

[Nick]

I would like to extend an offer to every one of our members who has an idea that might help us and would like to collaborate. We are always looking for opportunities to expand and improve our signals/services and find that working with others is the best way to achieve this.

If you have an idea for a new forex product/business, or would like to use one of your contacts too help us improve our existing product base please let us know.

Some examples of what I'm talking about might be:

- New ways to deliver signals to clients

- Help us expand the niche industry of forex signals to a broader audience

- Introduction to high net worth investors that might be interested in trading on a performance based or IB agreement

We're obviously happy to share the spoils of any new idea or venture with the people that help us make it happen. Your ideas will be treated with confidence.

Think Huge and help us grow into the most innovative forex provider in the world.

Please feel free to contact me directly on nick@thinkhuge.net

[Robot Trader]

Why not offer a mentoring service with an online live trading room (1 hour) where the mentor looks for setups on live charts then talks through their strategy and members can ask questions or put forward their own setups for discussion.

Regards

RT

[bismillahwd]

Why not offer a mentoring service with an online live trading room (1 hour) where the mentor looks for setups on live charts then talks through their strategy and members can ask questions or put forward their own setups for discussion.

Regards

RT

Imho, too many mentoring or learning curve in this fx online world. Too shady wich one is real trader that teach or just a preacher wannabe.

And the final things that came out is about making money, then the way it goes with great pamm or signal service with great trader or manager.

I think beeing an hedge fund with supreme portfolio of trader would be great towards nicks goal. And for sure i would be his client.


Sent from my iPad using Tapatalk HD

[Robot Trader]

Imho, too many mentoring or learning curve in this fx online world. Too shady wich one is real trader that teach or just a preacher wannabe.

And the final things that came out is about making money, then the way it goes with great pamm or signal service with great trader or manager.

I think beeing an hedge fund with supreme portfolio of trader would be great towards nicks goal. And for sure i would be his client.


Sent from my iPad using Tapatalk HD

Hi bismillahwd, I don't see you in the chat room contributing towards the trading discussion, so I take it that you are more of an investor than a self trader, which is fine considering this is a signal site. I was putting forward an idea for members that want to learn because there seems to be lots of questions asked in the chat room from members that make manual trades and get their accounts in deep water. So just some basic mentoring could be of great help to members that are new to Forex, a mentor will bring his/her strategy which will have rules to follow. Trades setups would be discussed prior to the trade being taken so members can see and ask questions about the setup and the strategy and once they get a better understanding they could put forward their own charts and setups for discussion based on the mentors strategy. You can read books on Forex but in my opinion there is nothing better than allowing a mentor to guild you through live charts applying a strategy to a trading setup.

My idea is only for members that want to learn to trade, which there does seem to be a few that enter the chat room, who may not be taking signals or like to trade along side the signals but are losing money in doing so.

Regards

RT

[Big River Man]

Robot has a good idea for sure. I'm not sure whether it would be profitable for Nick & Co. though? However, it would definitely add to the site. If it were so the traders should only be picked by Nick & Co. though. A lot of people come sprouting BS on this forum and then disappear. Usually to spruik their signal, I have myself been a victim to this previously. GMFS (in fact I can't even remember if that is what he or the signal was called) is one person that springs to mind. Cartmazin will remember him.

The other issue is what time would it be on?

Members such as BKK (when he was active), Druid, Robot Trader, TA and others that don't come straight into my head right now are the ones I would be thinking of. But we need to think that if 5-10 members were following a trader instead of in the LFT room , then maybe the room would be quiet and no one would be talking about conspiracy theories or boobs.

[bkelly2442]

I think this is a great idea and exactly what I was looking for when I found this site. All of the "mentoring" sites give you information on how to recognize an entry AFTER the fact. I believe having someone show an entry strategy and then throw a couple dozen charts at the members to have them locate the entry points in a live forum would be much more productive!!!

[harsha]

http://www.forexsignals.com/forum/showthread.php/344-SMART-PIPS-Daily-Trade-Signals

[siamfx]

Hi traders,

From experience, if Nick's company did pursue a coaching service it should work as the following.

1. Live streaming video and voice to the ScreenCast of the Traders Live Charts , just as TeamViewer provides these features for business presentations.
2. Followers, have access to ask questions via chat, then the Coach can speak freely and show through visual aid.
3. Anyone of Nicks traders or Signal Provider should have an opportunity to Coach as they please, Scheduling Feature for All signal providers within SimpleTrader: This filters out the shadow business men and women you shouldn't be listening or learning from. By adding this feature to exisiting signal providers, you the follower will have Real accounts to follow in real time and have the option to Subscribe to the signal Provider... making Nicks' Co. even better and more useful then it is now.

Feature: Integrate Coaching Option for SimpleTrader Signal Providers

[siamfx]

- New ways to deliver signals to clients

Please feel free to contact me directly on nick@thinkhuge.net

To expand, its really about offering more connection bridges from your SimpleTrader Servers to trading platforms or Broker's API.

For example, a Dukascopy API bridge would open wider doors for high net worth clients.

Then there's FIX API, where you'd be able to offer signals to hedgefund.

Currently, you are competing with MetaQuotes head on by offering signals for MT4 and cTrader is rolling out cMirror.

Make a bridge to common fx platforms and FX liquidity pools, you'll expand your client basis significantly.

[nc!]

I have very bad experience with FIX API from Dukas Copy specially at news time slippage more than 20 pips...market orders are way off...bit over rated broker for my taste....opens a world to where?? Real Feed is not same as historical feed from real spreads point of view. Sorry if off context. But when I see people wanting to join DC like some sort of best ever I wonder!! Cheers nc!

[Mrs Marple]

Nick, would it be possible for you to become the first service ever to set up a PAMM system without being a broker yourself?

It might not be as difficult as you might believe as it is only a program and the funds would be safe in a bank - you would not be handling any of the money.

I see PAMM funds as being the No1 choice in the future because too many people are being burnt by signal providers or are burning themselves by subscribing to several at once without proper money management.

A few years ago I met a group of traders that make phenomenal profits. I would have loved it if they could have just sold their signal or opened a PAMM account that I could join but these traders are not interested in giving themselves the headache. So I did the next best thing and studied under them. Now that I am very profitable myself, I often think about sharing some of the money around to someone other than my family members but just like the other members of my "trading family" we don't need the hassles.

PAMM accounts might work for us though because we do not want to give our methods away for free and they provide the cover. Also they let the manager set the amount of the profit sharing. If a person makes 60% or more a month profit and they set the level at 50% its still a good deal for the investor because half a dozen signal providers can not supply such a return with minimal risk.

I will leave you with that idea, Nick. I am still busy looking for a PAMM broker that is not shady and has just the right properties that I am looking for.

[Nick]

Nick, would it be possible for you to become the first service ever to set up a PAMM system without being a broker yourself?

It might not be as difficult as you might believe as it is only a program and the funds would be safe in a bank - you would not be handling any of the money.

I see PAMM funds as being the No1 choice in the future because too many people are being burnt by signal providers or are burning themselves by subscribing to several at once without proper money management.

A few years ago I met a group of traders that make phenomenal profits. I would have loved it if they could have just sold their signal or opened a PAMM account that I could join but these traders are not interested in giving themselves the headache. So I did the next best thing and studied under them. Now that I am very profitable myself, I often think about sharing some of the money around to someone other than my family members but just like the other members of my "trading family" we don't need the hassles.

PAMM accounts might work for us though because we do not want to give our methods away for free and they provide the cover. Also they let the manager set the amount of the profit sharing. If a person makes 60% or more a month profit and they set the level at 50% its still a good deal for the investor because half a dozen signal providers can not supply such a return with minimal risk.

I will leave you with that idea, Nick. I am still busy looking for a PAMM broker that is not shady and has just the right properties that I am looking for.

Thanks for the suggestion Mrs Maple.

It's an interesting concept, however the administration and regulation surrounding the receipt of client funds directly is a nightmare. Building a model into the copier that charges performance fees and invoices the client is probably a more feasible model in my view.

This is something that we've toyed with in the past, but PayPal doesn't support it on an automated basis, so we'd have to do individual invoices... which might work come to think of it....

Hmm....

Let me think about this in more detail

[Mrs Marple]

Don't use Paypal then. Use Netteller, Skrill or a whole heap of other ones out there.

In Australia and America Paypal rules the roost but there is no law stopping any of us from going to the other side of the world to get a better deal.

[Art_1]

Hi,

My ideas how to improve simpletrader:
1. Controlpanel and general administration:
a) Add in signal configuration/risk management "hard exit" option. Eg. if equity drops below some level - close all trades and do not allow to open new one. It's not the same as current %of max DD, because when configured DD is hit, all trades will be closed, but new one can be opened. Hard exit configured by equity amount, not percentage value.
b) On signal list, clear mark if signal provider master account is Cent. Cent account for signal providers are quite convinient, because in case of margin call they lost small amout of money

2. Connection to other platforms:
a) Dukascopy - somebody mentioned this few posts ago. In my opinion this is really intresting option and personally like to have it
b) LMAX - direct connection to LMAX exchange via API. They provide both FIX and they own API to connect. FIX required significant amount of money, but they direct API is good. API is provided in Java and .NET

3. Signal provider verification
Before ideas, small explanation: In last weeks really lots of high-positioned signals on simpletrader blow up clients account (World Peace Cookie, Golden FX Trader, SiamFX, and others). Forex is risky - everybody knows. But there is a lot of unprofesional traders out there just looking for your subscription fee. Consider example: You create few months ago few cents account. Each of them with 100$ capital. On statistics you will have 10,000 as master account. Then, you start trade. On one account - large longs on EURUSD, on second shorts on EURUSD, next swing trading on another, longs on USDJPY, shorts on USDJPY and so on. In general, you have no idea what will be market direction. But if you create 10 account and start aggresive trading, few of them will have great % growh in few weeks. Trends are strong now, so keeping this strategy for a few weeks allow you to be qualified on simpletrader (and other systems as well) as genius trader. Your risk still is less than < 1000 USD (for example). Now, everything you need is few subscribers to refound your "investment". Few thousands $ can be earn in simple-risk free way. Something go wrong - start this game again, on another identity, another email and so on.
This is only one of possible scenario how to cheat, there is plenty of such things. It is impossible to avoid everything, but we can do few things to improve and reduce risk.:
a) Signal provider personal verification by Simpletrader company (ThinkHuge Ltd.) - verify identity (ID), proof of residence. The same procedure as in the brokers when you create real account
b) Sign a normal commercial agreement between simpletrader and signal provider
c) Signal provider send to Simpletrader money as a deposit. At least few thousands $ as a security deposit in case of "fire". For example to refound signal subscription fee is something go wrong
d) Accept signal providers only from reputable regulated brokers.

Of course not every signal provider will agree to such conditions. They can be optional. But I personally would like to have such option "verified by Simpletrader", "security deposit provided", "no cent account".

hope helps
BR
Art

[JD_TRADER]

I came across the site ForexSignal.com through Nick's Youtube Channel.

With Simple Trader I set up my own Signal Service - JD TRADER Forex Signals
I also Linked up ForexVPS to have my MT4 linked 24/7 to VPS

Nick has put all the tools in place for an Independent Trader to set up a Signal Service. Its was easy with a bit of guidance from Nick