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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.
    Put the edge in your hands.
    Crypto MarketMaker Robot
    Github - Contact for Verified Trading History

  • #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
    Outside the Box - ZuluTrade (performance fees & trade copying)

    Comment


    • #3
      Would be nice if the signal providers previous systems are also shown just like in mql5

      Comment


      • #4
        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
        Outside the Box - ZuluTrade (performance fees & trade copying)

        Comment


        • #5
          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.
          Put the edge in your hands.
          Crypto MarketMaker Robot
          Github - Contact for Verified Trading History

          Comment


          • #6
            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.
            Pip Machine click to know more

            https://www.zulutrade.com/trader/375471/trading
            http://www.signalstart.com/analysis/kiss-profits/35847

            My thread : https://www.forexsignals.com/forum/f...y-first-client

            Comment


            • #7
              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
              Outside the Box - ZuluTrade (performance fees & trade copying)

              Comment


              • #8
                like an idea, specially when it comes how many subs follows and how much $ behind them.

                Comment


                • #9
                  Originally posted by daileycon
                  All great suggestions but is Nick listening or whoever that can make things happen?
                  Nick is dreaming about his first million

                  Comment


                  • #10
                    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


                    • #11
                      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


                      • #12
                        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.
                        They should have made deals with different brokers and take a part of the commission per trade

                        Comment


                        • #13
                          Originally posted by RenkoGuy View Post

                          They should have made deals with different brokers and take a part of the commission per trade
                          You can't force people to use your IB or your recommended broker when they decide to copy signals from Simple Trader. So that is not a realistic option.

                          Comment


                          • #14
                            Originally posted by Tradersmurf View Post

                            You can't force people to use your IB or your recommended broker when they decide to copy signals from Simple Trader. So that is not a realistic option.
                            Its the only option

                            Comment


                            • #15
                              Monthly subscription based signals are a dying industry, and it's no surprise.

                              Everyone should have the same opportunities, but with the monthly subscription model there is allways a loser. Small accounts can hardly profit from it because of the subscription fees, while big accounts can enjoy a cheap signal, and the trader earns much less than he would with a perfomance fee model.

                              I hope that Nick and ThinkHuge Ltd. will change simpletrader to a performance/commission based social trading platform in the near future, or it'll be slowly abandoned.

                              Comment

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