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  • ForexSignals Keep changing Business Models

    Hi,

    I just saw a ForexSignals Marketing video via facebook adverts where nick is trying to pretend like Professional & Successful Trader.
    https://www.facebook.com/forexsignal...1400242640913/

    It seems like the entire focus of Nick is to bring more people on this site to Open trading account from their affiliate link and participate in a trading contest and win a lot of cash, The trading room itself promotes so called trading instructors those even don't have a verified trading record.

    I feel very sorry to say that now this website is losing its credibility, more or less like a GET RICH QUICK SCHEME!



  • #2
    lol...Nick's not a very good actor is he? In reality a professional trader is unlikely to have such a reaction as depicted in the video, as they already have pre-defined loss and profit target when they took the trade, and they would be quite calm about each trade no matter what the outcome is. I think only people who seriously over-leverage their accounts would have a reaction like that...or people who are gambling on horses

    But I suppose at the end of the day, Nick does need to find some ways to attract customers, and unfortunately most people only get attracted when there is something exciting. They all want to get rich quick without realising how much risk is involved in Forex trading. I often see accounts that make a few hundred to a few thousand % in a short period crash overnight, but there is always no shortage of followers for those accounts.

    On the other hand, long term profitable strategies like SteadyCapture and SFE Price Action get ignored because they are too 'boring' and don't give the excitement that people need.

    Nevertheless, I do want to thank Nick for establishing this website, because over the years I have seen all the good, bad, and horrible traders come and go, and finally I think I can say I know how to trade Forex properly now. I also appreciate his transparency with most of the issues that have happened here over the years, and that he does step up and remove a trader if he is no longer profitable or do not stick to his rules.

    Sadly after all these years, I think only SteadyCapture has been proven to be a reliable trader without serious drawdowns. I hope Nick will be able to find more safe and profitable traders like SC, but of course it will be better to just stick with SC only, rather than finding someone who can give you 3000% gain in a few months then crash your account overnight (eg. GoodboyFx: https://postimg.org/image/bie0ulxh7/)
    Last edited by ccjhuang; 07-01-2017, 09:49 AM.
    Jimmy’s Personal Account - Myfxbook
    Jimmy's Personal Account - SimpleTrader Signal
    SFE Price Action Autolot High Risk - Myfxbook
    SFE Price Action Autolot High Risk - SimpleTrader Signal

    Comment


    • #3
      Originally posted by Ahmer View Post
      Hi,

      I just saw a ForexSignals Marketing video via facebook adverts where nick is trying to pretend like Professional & Successful Trader.
      https://www.facebook.com/forexsignal...1400242640913/

      It seems like the entire focus of Nick is to bring more people on this site to Open trading account from their affiliate link and participate in a trading contest and win a lot of cash, The trading room itself promotes so called trading instructors those even don't have a verified trading record.

      I feel very sorry to say that now this website is losing its credibility, more or less like a GET RICH QUICK SCHEME!

      Piss off Clown

      Comment


      • #4
        Hey guys, we were all together this week and had a conversation in the pub around Facebook advertising. We wanted to try a few different ideas - and of course some of them got a little fun and silly.

        This isn't meant to be a serious advert, but we want to do a range of adverts that would test what most engages users on Facebook.

        To early to give any more information else I'd share with you...

        So take it with a pinch of salt... The acting is purposefully like that and it's all meant for us to build some more information on the merits of facebook advertising.

        We are defo not scamming people so that seems a little bit of a bold statement. Nothing on Forexsignals has changed and we are completely transparent. all the ads were landing on the homepage so everyone is seeing the same thing.

        I'm sure Nick will reply at some point (he's in the UK at the minute).

        Comment


        • #5
          Originally posted by Ahmer View Post
          Hi,

          I just saw a ForexSignals Marketing video via facebook adverts where nick is trying to pretend like Professional & Successful Trader.
          https://www.facebook.com/forexsignal...1400242640913/

          It seems like the entire focus of Nick is to bring more people on this site to Open trading account from their affiliate link and participate in a trading contest and win a lot of cash, The trading room itself promotes so called trading instructors those even don't have a verified trading record.

          I feel very sorry to say that now this website is losing its credibility, more or less like a GET RICH QUICK SCHEME!

          The easiest way to make money trading is to allocate your funds to one of our managed accounts.

          The same managed accounts that offer the lowest brokerage fees in the industry and no management fee. If we don't deliver, then we work for free.

          That's my view which I've communicated across my hundreds of video's and posts here.

          However.... Managed accounts don't get people in the door.

          Those of you that know me understand I'm not content to stand still and have lofty goals for our site and organisation. Something that we've been working on is improving our marketing (we've done almost no paid marketing in the past 5 years), and Facebook offers an incredible opportunity for us to attract traders that would otherwise be out of reach.

          Our challenge is to capture people's attention on Facebook when you only have a couple of seconds before they flick past to find the latest cat MEME. We came up with a bunch of concepts, and sitting around the pub after a few pints this idea came to mind, so at midnight on Wednesday I did my best impression of an emotional trader hitting a winner.

          My hope is that people will see this, click on it, then come into our community and learn about what it really takes to succeed in this game.

          If I'd had a Lamborghini and 4 bikini clad blonds on on hand I would have used them, because these facebook ads are nothing more than a big flashing sign saying "CLICK ME"

          I acknowledge we've pivoted a few times with the site recently. But the core principle of the site remains, we want to grow our community and for everyone here to make money.



          Click here to check out the most popular forex channel on YouTube

          Comment


          • #6
            My opinion is, you don't need to think so hard to advertise.

            All you need to focus is the last 5 words of your whole paragraph. "Everyone here to make money"

            So far do you think majority of people who follow this site makes money?

            Comment


            • #7
              Hi Nick,

              I think you could improve the video by fading out the screen at the end and write something like: "Is this how you trade Forex? Then you are probably one of the 95% traders that won't make it in Forex. Why? CLICK ME to find out more"

              At the end of the day I think it is important to give people the right message that they should treat Forex as an investment which requires patience and discipline, rather than just a gambling game.
              Jimmy’s Personal Account - Myfxbook
              Jimmy's Personal Account - SimpleTrader Signal
              SFE Price Action Autolot High Risk - Myfxbook
              SFE Price Action Autolot High Risk - SimpleTrader Signal

              Comment


              • #8
                Originally posted by Lithium View Post
                My opinion is, you don't need to think so hard to advertise.

                All you need to focus is the last 5 words of your whole paragraph. "Everyone here to make money"

                So far do you think majority of people who follow this site makes money?
                That is true as well...the ad will be much more attractive if you can just show someone a verified myfxbook account with decent gains.
                I am sure my myfxbook page will attract more people than Nick's action video lol

                I have definitely made some money through this website but I don't think I am the majority here
                Jimmy’s Personal Account - Myfxbook
                Jimmy's Personal Account - SimpleTrader Signal
                SFE Price Action Autolot High Risk - Myfxbook
                SFE Price Action Autolot High Risk - SimpleTrader Signal

                Comment


                • #9
                  Originally posted by Nick View Post

                  The easiest way to make money trading is to allocate your funds to one of our managed accounts.

                  The same managed accounts that offer the lowest brokerage fees in the industry and no management fee. If we don't deliver, then we work for free.

                  That's my view which I've communicated across my hundreds of video's and posts here.

                  However.... Managed accounts don't get people in the door.
                  I think most people still prefer the freedom of being able to copy a signal and adjust the risk setting according to their own liking. With managed accounts people need to allocate their funds into the account and cannot trade other signals/EAs at the same time, and it makes them feel restricted.

                  As I have mentioned in my thread before, I think you should really give SFE Price Action a go. The vendor's current myfxbook account has made 344.53% in less than 2 years, with a DD of only 17.87%! (http://www.myfxbook.com/members/atra...normal/1331484). If you don't call this a good EA I am not sure what is

                  There was also a recent independent review on it which was quite positive: https://www.forexbrokerz.com/news/sf...d-forex-system
                  (well, apart from the price, of course...but I once went to a financial planner at a bank and he was going to charge me $1500 just to set up an investment portofolio for my superannuation...and he said the expected long term annual gain would just be about 8% per annum!...so would you still say $2000 for this EA is expensive with the performance it has shown?)
                  I just feel bad that the vendor is not really getting the deserved attention for his amazing product and the community here has not been given the chance to try it out.

                  I think if you can get SFE Price Action in here either as a VIP signal or managed account, it will attract a lot more clients. It trades a lot more frequently than SteadyCapture but at the same time is still very safe, not to mention that you will get much more commission from the frequent trades.

                  Sorry I don't mean to tell you about how to do your business, but I really think it's a golden opportunity to increase the popularity of this website and your client base if you can get SFE Price Action on board...
                  Last edited by ccjhuang; 07-02-2017, 12:15 AM.
                  Jimmy’s Personal Account - Myfxbook
                  Jimmy's Personal Account - SimpleTrader Signal
                  SFE Price Action Autolot High Risk - Myfxbook
                  SFE Price Action Autolot High Risk - SimpleTrader Signal

                  Comment


                  • #10
                    Originally posted by Lithium View Post
                    My opinion is, you don't need to think so hard to advertise.

                    All you need to focus is the last 5 words of your whole paragraph. "Everyone here to make money"

                    So far do you think majority of people who follow this site makes money?
                    Yes, almost everyone that has invested in our managed accounts over the past 2-3 years has made money. (provided they left it alone and didn't withdrawn while in floating drawdown)

                    These strategies work, but the majority of members prefer to trade themselves, so our marketing needs to cater for that audience.

                    The video is a cliche, and I can't say at this stage whether it's worked. But if we don't try new things we'll never know. The reason we're still thriving after 5.5 years when most of our competitors have disappeared is because we don't rest on our laurels and are constantly working to adapt to the changing industry.
                    Click here to check out the most popular forex channel on YouTube

                    Comment


                    • #11
                      So I read about Nick McDonald and found his MyFXBook Profile. I was delighted to read the following "I am the owner of www.forexsignals.com. The website is dedicated to providing transparent and profitable trading signals to all members absolutely free and 24hrs per day." Obviously I go and check it out only to get trapped into a pay-gate after signup. It's not expensive but, just the fact that I was surprised with a credit card page makes me feel that I was duped into it. You should think about editing that bio of yours on MyFXBook as it is really misleading.
                      Last edited by Dexonite; 07-06-2017, 12:14 PM. Reason: Changed the "free" part to bold.

                      Comment


                      • #12
                        Originally posted by Dexonite View Post
                        So I read about Nick McDonald and found his MyFXBook Profile. I was delighted to read the following "I am the owner of www.forexsignals.com. The website is dedicated to providing transparent and profitable trading signals to all members absolutely free and 24hrs per day." Obviously I go and check it out only to get trapped into a pay-gate after signup. It's not expensive but, just the fact that I was surprised with a credit card page makes me feel that I was duped into it. You should think about editing that bio of yours on MyFXBook as it is really misleading.
                        Thanks Dexonite,

                        Fair point. The trading room used to be free back last year, however we added more regular streams and additional functionality and are now running with a paid service.

                        I'll fix up that description.
                        Click here to check out the most popular forex channel on YouTube

                        Comment

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