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  • SimpleTrader Feedback, Suggestions, Improvements

    Hello ForexSignals Community,

    What type of suggestions do you have to make simpletrader.net a better place for both traders offering signals and investors following the signals?

    What do you like about the trade copier and what don't you like about the trade copier?

    Is MetaTrader 5 worth integrating?

    Is cTrader worth integrating?

    Thank you for your feedback.

    Purposed changes to SimpleTrader so far!
    1. Number of Subscribers to each strategy
    2. Ranking algorithm (Average Max Drawdown -- to --- Average Monthly Profit)
    3. Warning Labels (Monthly Drawdowns, Martingale, Grid, Holding losses)
    4. Show all systems ( disable the ability to delete the previously offered signal)
    5. Assets under Management ( funds following system)
    Last edited by HedgeBitcoin; 08-08-2018, 05:23 AM.

  • #2
    Originally posted by HedgeBitcoin View Post
    Hello ForexSignals Community,

    What type of suggestions do you have to make simpletrader.net a better place for both traders offering signals and investors following the signals?

    What do you like about the trade copier and what don't you like about the trade copier?

    Is MetaTrader 5 worth integrating?
    Is cTrader worth integrating?

    Thank you for your feedback.

    1. Public statistic for Number of Subscribers to each strategy on MarketPlace
    2. revised ranking algorithm that more heavily factors Average Max Drawdown -- to --- Average Monthly Profit
    3. Warning Labels attached to Trade Copying signals that surpass 30% drawdown in a given month
    4. Incentives from SimpleTrader for strategy providers and customers with long history on the platform

    There are others I have thought about and have heard from other long-term participants here, but they are more involved and complex (ie reported slippage of subscribers, way of decreasing common scamming tactics.... fabricating false broker data....)
    “Learn from your mistakes and do not give up!”

    Outside the Box - Myfxbook
    Outside the Box - SimpleTrader Trade Copying
    Outside the Box - MQL5 Trade Copying

    Comment


    • #3
      1. Public statistic for Number of Subscribers to each strategy on MarketPlace

      That would be nice.

      Comment


      • #4
        Would be nice if the signal providers previous systems are also shown just like in mql5

        Comment


        • #5
          Originally posted by MrMcmahon View Post
          Would be nice if the signal providers previous systems are also shown just like in mql5
          Yes.
          And I forgot to mention "Funds following". This stat is very informative for decision making for both trade copying providers and subscribers.
          The Funds column is the total dollar amount of all subscribers funds following the strategy.

          Screen Shot 2018-08-08 at 4.12.56 AM.png
          “Learn from your mistakes and do not give up!”

          Outside the Box - Myfxbook
          Outside the Box - SimpleTrader Trade Copying
          Outside the Box - MQL5 Trade Copying

          Comment


          • #6
            Great suggestions so far. OutsideTheBoxHK What do you have in mind for the incentives? How would this work? Like a discount on the cost of the slave accounts (followers). Instead of paying $15 per follower you want a discount of X% if you have 1.) A long trade history over 1 year? 2.) Have X amount of followers 3.) New equity highs for last 6 months . Those are just some examples to share.

            Comment


            • #7
              I would like to link my account here if paypal option to pay 15 dollars is removed, I would like that forexsignals charge 15 dollars from the fees it self and send the remaining money via skrill or paypal. few countries dont allow us to retain balance in paypal and this is why it becomes really messy to pay 15 dollars separately.

              Comment


              • #8
                Originally posted by HedgeBitcoin View Post
                Great suggestions so far. OutsideTheBoxHK What do you have in mind for the incentives? How would this work? Like a discount on the cost of the slave accounts (followers). Instead of paying $15 per follower you want a discount of X% if you have 1.) A long trade history over 1 year? 2.) Have X amount of followers 3.) New equity highs for last 6 months . Those are just some examples to share.

                Well there are various options for a broker / forex company to incentivise behaviors that will add to their bottom line.
                But normally, in order for them to take this step, they want market research "proof" that says it really will add profits to their business in the long term.

                Without having done this market research in the SimpleTrader target market, I would try some of these:
                1. Age of strategy more heavily factored into Ranking
                2. Subscribers of more than one year or more than one signal receive 25% discount on all signals / services
                3. SimpleTrader giving Free Month of Signal Service to strategy providers who Rank 1, 2 or 3 in that month for returns
                  or some monetary bonus
                4. SimpleTrader advertising the top 20 signals on other Top Forex Websites (business partnership, profit share)
                5. Some type of Symbol/Visible Icon applied to Signals on the Market Place who are considered more "safe" in terms of drawdown, age of strategy
                “Learn from your mistakes and do not give up!”

                Outside the Box - Myfxbook
                Outside the Box - SimpleTrader Trade Copying
                Outside the Box - MQL5 Trade Copying

                Comment


                • #9
                  like an idea, specially when it comes how many subs follows and how much $ behind them.

                  Comment


                  • #10
                    All great suggestions but is Nick listening or whoever that can make things happen?

                    Comment


                    • #11
                      Originally posted by daileycon View Post
                      All great suggestions but is Nick listening or whoever that can make things happen?
                      Nick is dreaming about his first million
                      https://www.myfxbook.com/portfolio/cleaner/2639608

                      Comment


                      • #12
                        Originally posted by HedgeBitcoin View Post
                        Great suggestions so far. OutsideTheBoxHK What do you have in mind for the incentives? How would this work? Like a discount on the cost of the slave accounts (followers). Instead of paying $15 per follower you want a discount of X% if you have 1.) A long trade history over 1 year? 2.) Have X amount of followers 3.) New equity highs for last 6 months . Those are just some examples to share.
                        fx4,

                        are you working for simpletrader ??

                        quite a few of the above mentioned suggestions i also suggested but was shot down on every one of them.

                        i got the feeling/impression that the signal end was no longer a pursued business. i find this really sad since the copier etc works very well.

                        it sure be nice for some improvements to be implemented, maybe you can enlighten us all what you are working on.

                        Smart traders never hold positions over the weekend.

                        Below my new home, all accounts fully verified.

                        https://www.myfxbook.com/members/forexfidelitas

                        Comment


                        • #13
                          Originally posted by reinerh View Post

                          fx4,

                          are you working for simpletrader ??

                          quite a few of the above mentioned suggestions i also suggested but was shot down on every one of them.

                          i got the feeling/impression that the signal end was no longer a pursued business. i find this really sad since the copier etc works very well.

                          it sure be nice for some improvements to be implemented, maybe you can enlighten us all what you are working on.
                          I agree, I believe a lot of the focus was on these Managed Accounts. Now that Steady Capture is out of the way, maybe we can get some work and focus brought back to SimpleTrader.net. It needs a facelift!

                          Comment


                          • #14
                            Yeah would be interesting to see the subscriber numbers on each signal. However, if you think about it, if Simpletrader is only making $15 per subscriber per month, you would need a large amount of subscribers to just cover the cost of one support person monthly salary. From what I have read, it seems unlikely there is more than 200 subscribers per month accross all the signals combined, which is only $3000 a month. Once you take that into consideration, you can see why the main focus of this site has become the trading room.

                            Comment


                            • #15
                              Originally posted by Tradersmurf View Post
                              Yeah would be interesting to see the subscriber numbers on each signal. However, if you think about it, if Simpletrader is only making $15 per subscriber per month, you would need a large amount of subscribers to just cover the cost of one support person monthly salary. From what I have read, it seems unlikely there is more than 200 subscribers per month accross all the signals combined, which is only $3000 a month. Once you take that into consideration, you can see why the main focus of this site has become the trading room.
                              Good point.

                              Comment

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