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Forex Signal Services 2015

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  • Forex Signal Services 2015

    Dear Nick,

    Happy New Year to you and all the Community. I'm Simpletrader's follower since last July and even if I lost money in JohnPaul and DayFox saga, I found also Viper, TradeAlerter,SmartTrader, GoldStar.


    I'm a VIP user and I would like to ask you something about the actual VIP offer. There are 8 Signal Provider on VIP but 3 are out (DayFox, FX amplified ,Golden Key) and Kilimanjiaro is a new one without long history available for ex DayFox user, so the real VIP Signal Provider are actually 4.


    Are you introducing new traders/Signals in next months?

    After all the discussion and controversy, I would sensitize again on Track Record Verified account for all Signal Providers, would it be mandatory?



    I think it would be useful for all the Community.


    Thank you for your effort,

    bull_2nd

  • #2
    Originally posted by bull_2nd View Post
    Dear Nick,

    Happy New Year to you and all the Community. I'm Simpletrader's follower since last July and even if I lost money in JohnPaul and DayFox saga, I found also Viper, TradeAlerter,SmartTrader, GoldStar.


    I'm a VIP user and I would like to ask you something about the actual VIP offer. There are 8 Signal Provider on VIP but 3 are out (DayFox, FX amplified ,Golden Key) and Kilimanjiaro is a new one without long history available for ex DayFox user, so the real VIP Signal Provider are actually 4.


    Are you introducing new traders/Signals in next months?

    After all the discussion and controversy, I would sensitize again on Track Record Verified account for all Signal Providers, would it be mandatory?



    I think it would be useful for all the Community.


    Thank you for your effort,

    bull_2nd
    very good bull_2nd, I fully agree on both topics, let's wait for a Nick's opinion

    Comment


    • #3
      Hi bull_2nd,

      We are currently in the process of vetting 2 new traders that we are looking to launch in the next month or two. We have been vetting them for the past 3 months.

      We have a whole new way of vetting traders which you can view here: http://www.forexsignals.com/the-vetting-process.html

      Comment


      • #4
        Hi Will,

        is this enhanced process also applied to the existing traders and the outcome of this analysis available to the community?

        Originally posted by WillT View Post
        Hi bull_2nd,

        We are currently in the process of vetting 2 new traders that we are looking to launch in the next month or two. We have been vetting them for the past 3 months.

        We have a whole new way of vetting traders which you can view here: http://www.forexsignals.com/the-vetting-process.html

        Comment


        • #5
          Originally posted by ESG View Post
          Hi Will,

          is this enhanced process also applied to the existing traders and the outcome of this analysis available to the community?
          I would like to see it done on Dayfox to understand how it appears in case of failing

          Comment


          • #6
            We have quite a tough due diligence process - we have done the likes of TradeAlerter and we'll release this shortly. We are still just fine tuning the PDF document and how its presented before releasing it. But soon enough we will attach this to each signal page on forexsignals.com so it can be downloaded and viewed before subsribing.

            I think the likelyhood we can do an interview with DayFox at this stage is slim, but I'll ask Nick to see if its possible.

            Comment


            • #7
              Good news!

              Can't wait to see the results!

              Kind regards,
              ESG
              Originally posted by WillT View Post
              We have quite a tough due diligence process - we have done the likes of TradeAlerter and we'll release this shortly. We are still just fine tuning the PDF document and how its presented before releasing it. But soon enough we will attach this to each signal page on forexsignals.com so it can be downloaded and viewed before subsribing.

              I think the likelyhood we can do an interview with DayFox at this stage is slim, but I'll ask Nick to see if its possible.

              Comment


              • #8
                Hi Bull,

                Thanks for being with us for the past 6 months. It' good to see you sticking in there after some large setbacks.

                As Will mentioned, all new providers are undergoing an intensive due dilligence process before we offer the public access to the signal. I appreciate you'd like to see more signals on the VIP program, however I'm of the opinion that it's better to have 3 or 4 solid traders than expand it and risk offering mediocre talent just for the sake of it.

                The analysis on Dayfox basically makes it impossible to predict future risk/reward due to his inability to accept a loss. If we can't analyse it then we don't know what to expect moving forward, so it turns into a bit of a black box. This is the kind of thing we will never trade with again.

                If all goes according to plan we should have another 2-3 traders on the site within the next 3-6 months. But I'm in no rush, we need to focus on the traders that we are currently working with and rebuild the losses from last year.
                Would you like free lifetime access to our forex trading room?

                Open an account at Blueberry Markets and save the $97/monthly fee.

                Click here to find out more.

                Comment


                • #9
                  Originally posted by Nick View Post
                  Hi Bull,

                  Thanks for being with us for the past 6 months. It' good to see you sticking in there after some large setbacks.

                  As Will mentioned, all new providers are undergoing an intensive due dilligence process before we offer the public access to the signal. I appreciate you'd like to see more signals on the VIP program, however I'm of the opinion that it's better to have 3 or 4 solid traders than expand it and risk offering mediocre talent just for the sake of it.

                  The analysis on Dayfox basically makes it impossible to predict future risk/reward due to his inability to accept a loss. If we can't analyse it then we don't know what to expect moving forward, so it turns into a bit of a black box. This is the kind of thing we will never trade with again.

                  If all goes according to plan we should have another 2-3 traders on the site within the next 3-6 months. But I'm in no rush, we need to focus on the traders that we are currently working with and rebuild the losses from last year.
                  Good feedback Nick.

                  Any information on other projects that have been discussed? Two that come to mind are the inclusion of a NY signal server and adjustments to the way the risk multiplier is calculated

                  Comment


                  • #10
                    This is all up and coming in the following months. We've been working on it for a while now. These things just take some time to roll out now I'm afraid.

                    Comment


                    • #11
                      Originally posted by WillT View Post
                      This is all up and coming in the following months. We've been working on it for a while now. These things just take some time to roll out now I'm afraid.
                      Sorry Will not looking to hurry you up just wondering what's on the horizon for this year and what we can look forward to

                      Comment


                      • #12
                        Originally posted by WillT View Post
                        Hi bull_2nd,

                        We are currently in the process of vetting 2 new traders that we are looking to launch in the next month or two. We have been vetting them for the past 3 months.

                        We have a whole new way of vetting traders which you can view here: http://www.forexsignals.com/the-vetting-process.html
                        Originally posted by Nick View Post
                        Hi Bull,

                        Thanks for being with us for the past 6 months. It' good to see you sticking in there after some large setbacks.

                        As Will mentioned, all new providers are undergoing an intensive due dilligence process before we offer the public access to the signal. I appreciate you'd like to see more signals on the VIP program, however I'm of the opinion that it's better to have 3 or 4 solid traders than expand it and risk offering mediocre talent just for the sake of it.

                        The analysis on Dayfox basically makes it impossible to predict future risk/reward due to his inability to accept a loss. If we can't analyse it then we don't know what to expect moving forward, so it turns into a bit of a black box. This is the kind of thing we will never trade with again.

                        If all goes according to plan we should have another 2-3 traders on the site within the next 3-6 months. But I'm in no rush, we need to focus on the traders that we are currently working with and rebuild the losses from last year.
                        Hi guys,

                        I appreciate a lot the new due diligence/vetting process for the new traders. Few quality/rock solid Signals are better than more mediocre providers. We need time to recover the losses and build new systems without hurry. As soon as the new traders will be available , we will evaluate them but it is essential your vetting process to be sure that no other DayFox will come here to fool and smash our hurt accounts.

                        I trust Forex Signals project, thank you again for your answers and effort.

                        bull_2nd

                        Comment


                        • #13
                          I think Nick mentioned a very important point, that must be remembered at all time:
                          The analysis on Dayfox basically makes it impossible to predict future risk/reward due to his inability to accept a loss. If we can't analyse it then we don't know what to expect moving forward, so it turns into a bit of a black box. This is the kind of thing we will never trade with again.
                          You can not calculate involved risk when the trader does not cut losses or (even worse) uses martingale techniques. In these cases, risk involved is always 100% aka account blow up. Just a few things you could look for:
                          1) Over 6 months of continous (!) myfxbook history/connection. That means that the account must be hooked up to myfxbook all the time, otherwise you can not simply see what happened within the trading history. You can see if the account was hooked up properly when you can see the equity and balance line floating around each other every day. That of course assumes, that it is a live account with a reputable broker.
                          2) Trader must not have a survival bias aka holding losing trades or any sort of plain grid/martingale style.

                          These two alone will filter out most of the signals listed on the connectforex/simpletrader site.

                          I said this, because i am happy to see that featured signals are now better analyzed to drive up the longer term (!) performance instead of rushing into risky trading techniques. Additionally i will submit a request to be featured on this site as well within this year, likely as soon as the public reference account has over 12 months of continous myfxbook connection (so earliest in June '15). That of course will include a larger reference account that will be on par with the currently featured signal providers.


                          Wish you all a nice weekend.


                          P.S
                          Mods are allowed to modify this post if it sounds like advertising, as this is not what i am wanted to do. If there is any other member who has the impression this post is for advertising, please send me a PM and ask for modification of my post.
                          ASTA light master account - myfxbook link
                          Former ASTA light signal account with 12 months trading history - myfxbook link

                          Link to signal on simpletrader website

                          Comment


                          • #14
                            All I want to say about any new EA is please please please for the love of God make sure that it is 1500% guaranteed to work as it is supposed to. I lost 000's and 000's not only due to Day Fox but almost as much from the copier not working properly. True this only happened on this one signal to my knowledge to date, but it really really blindsided me and at the time when master Fox was down 30% it equated to me being 50% down. Which, basically is unacceptable. So I only stress that all tests be done with extreme diligence and tested and tested and tested until the cows come home. I don't think I could handle another costly IT error. Thank you. This actually stresses me out a lot this particular issue. I want to sleep with confidence that trades are copied identical risk to master. Kind regards, BRM.

                            Comment


                            • #15
                              Also on the other note of new traders.
                              We (myself included) are all obsessed with new traders. It's great, it's exciting.
                              But **** me imagine if we all had "just" 4 signals on VIP all of 2014. We would all be rolling in barrels on money and in spa tubs with hot women.

                              But instead we got introduced to The Dirty Fox, The Golden Turkey, and Not High Return.

                              So the lesson to be learnt is diversification is prudent, however, as Confucius says "One donkey can eat all your prize horses fodder" or "One fart can ruin a bed of roses".

                              Smart man. Like me.

                              Comment

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