This needs to be addressed ASAP
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Using more than 1 signal on a live account
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Originally posted by BMM View PostHello, my first post here
I have the same doubt here due to VIP club membership "forcing" to use multisignals on one account
Using "Risk multiplier using account Balance" would be the best setting to copy trades with right size but the balance is the mix of the results of many singnals and big (?) mistakes could occur when a master trader wants to hedge his position. Considering how much Dayfox uses hedging makes this a scary problem
The proposal of Dupapa to use "Lot multiplier" seems good but it is not because we don't know when a master trader makes a deposit or a withdrawal on his master account therefore BIG changes of risk could happen without advice. This is the dark side of lot multiplier, don't understimate because it happens
At the end of the day "Risk multiplier using account Balance" is still the best choice, not perfect, but with less bad sides according to me, very IMHO
I would like to have an opinion by Will who could give us a good tip on this critical setting
last but not least: please let VIP members to reach the magic limit of 20K with a group of account instead of a big one, at least till this issue will be definitly solved implementing the wise proposal of cyberryder to use a phantom balance for each signal
Thank you very much
No one is forcing you to use multiple signals on one VIP account and I personally don't recommend doing that ( that is my personal approach: one signal per one account). If you don't have enough money to open more then 1 VIP signal then simply don't use multiple signals. You should choose one signal that you are most conformable with and just trade with that.
But if you really insist on going with more then one signal then yes, you could go with Lot Multiplier setting. Viper won't be withdrawing money from master account and he is using Lot Multiplier himself on several accounts. As for DayFox, money clients (and myself) are following him on Lot Multiplier and Nick already said that if DayFox will choose to withdrawal/deposit money from/to his account then we will be notified about that before.
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Originally posted by Daniel View PostBMM,
No one is forcing you to use multiple signals on one VIP account and I personally don't recommend doing that ( that is my personal approach: one signal per one account). If you don't have enough money to open more then 1 VIP signal then simply don't use multiple signals. You should choose one signal that you are most conformable with and just trade with that.
But if you really insist on going with more then one signal then yes, you could go with Lot Multiplier setting. Viper won't be withdrawing money from master account and he is using Lot Multiplier himself on several accounts. As for DayFox, money clients (and myself) are following him on Lot Multiplier and Nick already said that if DayFox will choose to withdrawal/deposit money from/to his account then we will be notified about that before.
Using lot multiplier would be the best solution if you provide a clear statement that followers will be adviced of withdrawal/deposit to be able to change their lot multiplier accordingly otherwise ghost balance per signal or splitting the 20k limit in many account are needed to wisely follow your signals
Please consider that letting to reach the 20k VIP limit with a group of accounts would let us to trade one signal per account with risk per balance eliminating the need to code ghost balance per signal (complicate) or implement a nightmare advice system of withdrawal/deposit.
This will solve all the known issues with one shot, please consider itLast edited by BMM; 10-21-2014, 03:46 PM.
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Originally posted by BMM View PostTo differentiate the risk is one of first rules to learn in trading, it is not a new of today
Using lot multiplier would be the best solution if you provide a clear statement that followers will be adviced of withdrawal/deposit to be able to change theri lot multiplier accordingly otherwise ghost balance per signal or splitting the 20k limit in many account are needed to wisely follow your signals
Anyway, as I wrote in my previous post. Nick and DayFox knows that that there are many accounts following with Lot Multiplier and so everyone will be notified if there will be any withdrawal/deposit made.
As for splitting 20k into several accounts, we already had such requests but it's impossible I am afraid. Single VIP account has to be $20k minimum.
You have many other options, like following signals with normal paid subscription or investing into one of our MAMs (currently TradeAlerter and FX Viper).
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I have VIP account and use lot multiplier with all the Team Traders; different risk and approach with each of them depending on their style.
Month of august gave 25%, sept 2.5% and now I am up 35%.
Since joining this community my account has grown over 100%.
Thanks to you Nick and all your staff and traders.
Sent from my iPhone using Tapatalk
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