SimpleTrader Feedback, Suggestions, Improvements

[ccjhuang]

Oh I forgot about that...thanks for reminding me!


Well I think my point is still valid because I only have 5 subscribers now in total for the High Risk signal and my Personal account, so most people have given up on SFE PA as far as I can see. Maybe I will have more subscribers once we hit another new high but I am not sure if they will be prepared for the next DD period that would eventually follow.

[fabx]

Jimmy there are 0 subscribers because you cannot subscribe if you recall Joel found it too difficult to setup.
So I think you setup the autolot high risk as a result.

[ccjhuang]

Sadly lots of retail investors just want to see profits day in day out regardless of what equity looks like.

I totally agree. Over the years I keep seeing new signal providers coming up with doomed-to-fail systems that only close trades that are in profit and let losers run, and yet they never run out of subscribers because of their nice-looking growth curves - until they eventually go bust like all of them do.

On the other hand, the official account for SFE Price Action has made over 500% running on low risk over the last 3 years, and yet there is zero21DBE3E9-C555-4BAB-96D9-5732EECDB3A3.jpeg

[primi]

All you really need are profitable signals and some cosmetic changes. Money will find you. There were lots of followers when Viper was doing good and he wasn't even a good trader. Once you have good quality signals you'll see much improved community here as well because right now I fear good traders don't even want to get involved.

Without good signals nothing will work. You can get away with poor ones for a while by trying to get some kind of commission but as we can see that's not a good long term solution.

Looking at FX4Charlie subscriptions, if this is accurate then either he did not get those promised 18 subscribers or some of them already left because they saw 3 losing trades in a row or something. But it's a good signal with more potential. Sadly lots of retail investors just want to see profits day in day out regardless of what equity looks like.

[HedgeBitcoin]

Here are the signal subscribers for the Top 15 ranked signals on the Market Place.
As you stated, there is private trade copier usage, and it actually accounts for many more fee-paying subscribers. This number is private.
I hope they publish this subscriber count on the Market Place listing soon.

Scrptx portfolio	2
Safe Aussie Profit	11
FxSpartans	40
TickmillLN	11
Momentum Capture	4
MHD	7
Newage Standart	2
NightProfit ICMarkets	3
Dynamic Trading	3
SFE Price Action	0
Rettangolo by FN	2
OUTSIDE THE BOX	14
GoldenKiwi	3
EURCAD Expert	19
FX4Charlie	10

Where did you get this compiled data?

The private trade copier doesn't have many subs, This info is from Nick
Personal Copier $664.50 (revenue)
The managed hosting actually accounts for the majority of the revenue but it also comes with an expensive hosted server cost almost equal to the revenue.

[HedgeBitcoin]

Not surprising. Where did you get this info? Are you looking at purchasing simpletrader?

Nick reached out to me with an offer. I was considering it but the overhead is quite expensive and I don't expect any growth with the current suggestions we've talked about so far.

[OutsideTheBoxHK]

About 100 active subscribers 10 days ago. I am sure it's a lot less after these few weeks considering the amount of losses on some of the longest running systems on SimpleTrader.
$1500 in revenue minus the server costs and a support team. There are some traders using the Private Trade Copier too ( about 40 subs), maybe fxviper still use this software.

As you mentioned, the Trading room has been the main focus because its not performance based and if your content is good the subscriber will stick around through their journey of becoming a trader.

Here are the signal subscribers for the Top 15 ranked signals on the Market Place.
As you stated, there is private trade copier usage, and it actually accounts for many more fee-paying subscribers. This number is private.
I hope they publish this subscriber count on the Market Place listing soon.

Scrptx portfolio	2
Safe Aussie Profit	11
FxSpartans	40
TickmillLN	11
Momentum Capture	4
MHD	7
Newage Standart	2
NightProfit ICMarkets	3
Dynamic Trading	3
SFE Price Action	0
Rettangolo by FN	2
OUTSIDE THE BOX	14
GoldenKiwi	3
EURCAD Expert	19
FX4Charlie	10

[Tradersmurf]

About 100 active subscribers 10 days ago. I am sure it's a lot less after these few weeks considering the amount of losses on some of the longest running systems on SimpleTrader.
$1500 in revenue minus the server costs and a support team. There are some traders using the Private Trade Copier too ( about 40 subs), maybe fxviper still use this software.

As you mentioned, the Trading room has been the main focus because its not performance based and if your content is good the subscriber will stick around through their journey of becoming a trader.

Not surprising. Where did you get this info? Are you looking at purchasing simpletrader?

[HedgeBitcoin]

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.

It's on the table. However, if the business model doesn't make money I wouldn't be able to allocate the time or resources into this project. As of right now, this could be the end of simpletrader

[HedgeBitcoin]

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

This is a legitimate business model which isn't a big deal since it is sharing the Broker's commission profits that the broker will charge the client in the first place. There are no markups on spreads or commission so the followers don't have to pay anything to follow the signal providers however sharing the revenue with the signal providers doesn't leave much for the business. Any other ideas?

[HedgeBitcoin]

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.

cmirror.com is a commission based social trading platform and the Spotware team will be adding the performance fee structure for account management.

I also feel your concern. One of the features as a signal provider were the ability to place a maximum amount of capital that the follower could use but this doesn't address the second issue of paying a monthly fee with a small investment account.

[HedgeBitcoin]

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.

About 100 active subscribers 10 days ago. I am sure it's a lot less after these few weeks considering the amount of losses on some of the longest running systems on SimpleTrader.
$1500 in revenue minus the server costs and a support team. There are some traders using the Private Trade Copier too ( about 40 subs), maybe fxviper still use this software.

As you mentioned, the Trading room has been the main focus because its not performance based and if your content is good the subscriber will stick around through their journey of becoming a trader.

[TalosFX]

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.

[Tradersmurf]

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.

[Tradersmurf]

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.