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  • Big River Man
    replied
    Will pearcy and potter have basically nailed it. Good luck. My recommendation would be figure out the worst case scenario for each signal in DD, add them up together and don't go over 50-60%

    Sent from Uranus

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  • WillT
    replied
    Just to step in here guys - I would say that the vast majority of users do run multiple signals on each account. I'd say its about 80% of users run multiple signals - its a high number.

    But as you have already pointed out - its important to select what traders you choose for each account. You want to try and pick signals that will compliment each other.

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  • pearcey2
    replied
    Originally posted by The Hobbit View Post
    I just wondered how many people use more than 1 signal provider on 1 account. I realise that normally its wiser to keep just one provider per account but there are pro's and con's to this. These questions are probably more relevant to a VIP client but I welcome input from any signal user. My views on it are changing recently following Vipers DD and I wondered if there is a better way. Of course all vendors will have DD and if you subscribe to a few then potentially they all could run into DD together causing a massive headache. But what if you used say 3 or 4 providers but ran them all at lower than normal risk. For example 4 traders at 0.5 risk would equate to roughly 2x normal risk on a signal. Pro's to this would be better diversification, potentially less DD at any one time. Con's would be cost, but to a VIP member this wouldnt matter. Appreciate any thoughts on this
    In the discussions I've had with other subs I think running multiple signals is quite common. I personally run several at varying risks.
    However some signals are better suited to being used on a "diversified" account than others

    For example I don't believe Viper is well suited to being run alongside other signals. You must allocate 15% of your account to Viper for DD that will earn you 2% per month whereas allocating 15% to TA will earn closer to 10-12% per month (using historical DD).

    Also in myfxbook check what the longest held trade has been (not average trade length but longest duration). A signal where the longest trade was 1 day is unlikely to have DD coincide with other signals DD whereas a signal who holds positions for months at a time is more likely to cause headaches.

    Just my views of course. Best of luck

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  • Potter
    replied
    I think you're right, VIP allows you to have both portfolio diversification and negation of signal costs whilst allowing you to run traders at a lower risk.

    Just be aware that under your proposed circumstances, one would be opening a single account up to the potential pitfalls of a combination of sig providers risks should something untoward happen.

    For a start, you need to make sure that you are savvy with the max lot and max DD settings, for as much security as is currently possible with the current version of SimpleTrader public admin settings management.

    Leave a comment:


  • The Hobbit
    started a topic Using more than 1 signal on a live account

    Using more than 1 signal on a live account

    I just wondered how many people use more than 1 signal provider on 1 account. I realise that normally its wiser to keep just one provider per account but there are pro's and con's to this. These questions are probably more relevant to a VIP client but I welcome input from any signal user. My views on it are changing recently following Vipers DD and I wondered if there is a better way. Of course all vendors will have DD and if you subscribe to a few then potentially they all could run into DD together causing a massive headache. But what if you used say 3 or 4 providers but ran them all at lower than normal risk. For example 4 traders at 0.5 risk would equate to roughly 2x normal risk on a signal. Pro's to this would be better diversification, potentially less DD at any one time. Con's would be cost, but to a VIP member this wouldnt matter. Appreciate any thoughts on this
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