Big Changes Planned For ForexSignals.com - Have your say

[Potter]

Too Kewl 4 Skool

@Nick and the gang

Good luck with the re modelling, makes sense to me, fully back the new direction.

Could I just ask for a coffee machine in the new chat room.

All the Best, Potter

[brokeMike]

I would suggest that the chat memeber's trade idea be well detailed (entry, time/date, size, TP, SL, TP, notes) and trackable (P/L, %correct, etc), ie like myFXBook.. so members can have stats on their tips/ideas.
Also, a way of knowing/seeing the older memebers from the noobs and an info page about what they trade etc.

Just don't neglect your core business and I'm sure it will work out.
Good for you Nick, staying ahead of the curve!

All the Best, Mike

[Drcdp]

Thanks for the feedback CDP. I like the idea of only charging a fee if the provider is profitable and we investigated this in the early days, however unfortunately PayPal don't offer this functionality, once a monthly fee is set up it can't be changed.

While Mt Cook is regulated in South Africa, they're run remotely with funds held in Singapore & Australia and I personally trust my money with this broker more than any other.

I respect what you're saying, but I just don't see a future with monthly signal subscriptions. If nobody signs up to these MAM's it won't be the end of the world for us because at the end of the day, almost nobody signs up to the signal subscriptions as it is, so it's not like we'll be going backwards.

While it's dominated the conversation, the signals stuff is actually secondary for me. My focus is building a resource for traders by providing the only genuine, free, 24hr live trading room where people can hang out and exchange trade ideas.

I personally think the potential is huge for this, and instead of appealing to a small segment of tech geeks we'll offer something appealing to the entire industry.

Thanks for the reply Nick, much appreciated. I completely understand your reasoning. Just one last point, when I joined in September 2015, I joined after first watching the Viper documentary on Youtube, which was very well done btw, and then with the idea of setting up a signal to follow Viper. I actually also told a number of my friends about your site and Viper video. However, I was very disappointed to see that Viper was only now available via the MAM. And, even though I thought your site was very much the real deal, I really wanted to control my own investment. When I started looking at the other traders, and seeing that their signal was still available, but not viper, it actually had the effect of cheapening their signals. Let me compare it to going into a Tesla car dealership and wanting to buy the Model X. If for some reason, the dealership told me that Model X is no longer available to own outright, but only the Model 3, chances are I would actually walk out and buy another brand completely. However, if both the Model X and Model 3 was available, I might have decided to look carefully at the cost benefit of both vehicles, and possibly chosen the Model 3 regardless.

Anyways, just my five cents.

Cheers,

CDP.

[Dubnology]

I think you have to look at the traffic statistics closely!

Whilst i agree that not everyone wants to hear about holidays footie and whatnot I do note there is always a serious undertone to the room.
Lets be honest traders are not robots and people do talk in between the excitment.

I do think though a coffee machine and some comfy chairs.... maybe some plants?

For those that want to enjoy the 100% serious discussion of which candlestick pattern is most likely to form and make them millionaires might i suggest a second room heavily moderated to exclude potential frivolity and a mute button for people who dissent with user x's absolutely certain read it in a book opinion.

Nick the chat room has brought people to your site for many reasons. The hope of the golden key to riches wealth and the cultural and intellectual superiority it brings, albeit they expect this info for free (of charge and risk), the chance to chew the fat with like minded people trying to trade succesfully, a *****ing session when a decision turns out to be flawed etc etc.

I think you have to look at what you are selling and ask how much the chat room traffic has added to that. A seperate room might be an idea for tech support, sales support etc but leave the chat as is for the most part the people who have been coming here for years now come for a reason and that is we enjoy each others society and we are all commited to making money trading either via the signals or a MAmm or even just trying to raise the capital to sign up for either.

Just my 2c

[Nick]

We obviously don't see the whole picture, only you do, but it's kind of interesting that cutting signals is dominating this conversation. People have interest in keeping the signals. I know I do. But it's a long term game and if there's anything that's absolutely killing me is the uncertainty. Let me explain a bit more.

I've been a subscriber since forever and I've seen traders come and go. But I managed to pick the right traders and make my setup pretty much stable. Yes, recently my performance is not what it used to be but I have confidence that I can keep my curve pointed upwards. I'm happy with say last 2 years and may it long continue! But will it?

I'm at a point where I'll finally be confident enough to put more of my hard earned money on the line under somebody else's management gradually during the next 12 months. It takes a while to get confident enough and to be sure (as much as you can possible be sure) that nothing bad is going to happen because the right people are in control of things.

And then, out of the blue, signals are being dropped. I know you said we can keep existing signals for as long as we like. But now you've introduced a lot of uncertainty in this model. There is suddenly no future in signals. Not a good sign. There is a shift in focus to something completely different. Not a good sign. Nothing is going to change, not in a year or two anyway. Not a good sign. A year or 2 means nothing, it took me that long just to make sure I like it and it's the way I want to move forward. It's expensive to maintain this functionality. Not a good sign. You can still have MAMs. Not interested in those and absolutely not at forced brokers.

Signals are what put you on the map. With MAMs I would have walked right past. Stability is the key for me and I feel I'm not getting it anymore. So sad.

I do understand why you're concerned... You've come through the fire with us and now (hopefully) making good returns and see this is a viable way to make a living well into the future.

Let me clarify a couple of things that should put your mind at ease.

Firstly, I like signals. I like the flexibility they offer to clients and the separation of liability for us. Also from a business perspective they're great because it means we're bringing in revenue to pay the bills even if our traders are going through negative months. Not only do I have no intention of removing signals completely, I don't want to. Yes, we need to run expensive servers and have staff online 24hrs per day, but they'd be here anyway because we also run ForexVPS.net and FXVM.net with over 2000 machines to support. Provided we don't see a mass exodus of people on the trade copier there's no reason to even think about shutting it down.

Secondly, I'm going to be expanding our reach to US clients through a closer partnership with Tallinex and this will be through offering VIP access on SimpleTrader. About 40% of our traffic is from the US, but US clients only account for 1% of our trade copier community. I see this as a huge opportunity if we can do it correctly. They don't have the ability to join any of the MAM's, so I'll be actively promoting a lowering of the VIP threshold to $5k initially in an attempt get some momentum. This all relies on the SimpleTrader infrastructure

You've been with us since the start, so I don't need to tell you how much things have changed over the course of the past 4 years. This industry is incredibly volatile and I've found it's almost impossible to predict the future, so I don't want to bullshit you and say that signals will be available for ever and ever. Internally we make specific 90 day plans and very broad 12 month plans, but beyond that it's pointless, because we just don't know what the future holds. To give you an example, imagine if regulators imposed 1:50 leverage across the world, or MT4 decided to change the rules and no longer allow external EA's to run on their platform? It'd change everything.

So, hopefully you can see that I'm genuine in wanting to keep the trade copier subscriptions going for as long as possible because it's in our mutual interest to maintain what we've built to date.

[Nick]

So to be sure I understand your plan

Any team trader will be changed into mam only (ie. Smart Phil steadycaputre) , while all other traders on connectforex will stay as signal
Is this right?

Sent from my Nexus 6 using Tapatalk

Yes, for the 17th time.

SimpleTrader/ConnectForex will be unchanged. Nothing is changing, the change is nothing, SimpleTrader and ConnectForex will continue to run as they are today.

The only thing that we're changing is that Smart2, Kilimanjaro, SteadyCapture, FX Viper and GoldStar will only be available on a MAM for new clients in the near future.

[Pie]

Yes, for the 17th time.

SimpleTrader/ConnectForex will be unchanged. Nothing is changing, the change is nothing, SimpleTrader and ConnectForex will continue to run as they are today.

The only thing that we're changing is that Smart2, Kilimanjaro, SteadyCapture, FX Viper and GoldStar will only be available on a MAM in the near future.

Thanks for the reply.

[Sherif]

Yes, for the 17th time.

SimpleTrader/ConnectForex will be unchanged. Nothing is changing, the change is nothing, SimpleTrader and ConnectForex will continue to run as they are today.

The only thing that we're changing is that Smart2, Kilimanjaro, SteadyCapture, FX Viper and GoldStar will only be available on a MAM in the near future.

And there r no chances for reconsidering bew goldstar mamms broker .. its a big set back for many here i guess .. as i am not the only one concerned about the broker of the new mamm ... as i see the comments here ??

Sent from my SM-G900H using Tapatalk

[nwboater]

Yes, for the 17th time.

SimpleTrader/ConnectForex will be unchanged. Nothing is changing, the change is nothing, SimpleTrader and ConnectForex will continue to run as they are today.

The only thing that we're changing is that Smart2, Kilimanjaro, SteadyCapture, FX Viper and GoldStar will only be available on a MAM in the near future.

Hi Nick,

Really glad to hear that nothing will be changing on SimpleTrader/ConnectForex!

I would like to confirm though that those of us that presently have a subscription to any of the above mentioned Team Traders will be able to continue those subscriptions.

Good luck in the new approach. I do hope it will work out well for everyone.

Thanks,
Rod

[Nick]

Check out this gem of me showing one of the first ever trading rooms on the site.

I used to sit in this chat room all day waiting for people to drop in in the hopes of striking up a conversation. It's also back when I traded my own signal, Pound Dollar Profits is me

[dazz1975]

Personally I don't like the idea because I signed up for the signal side of things. In going forward it is probably a good business decision for forexsignals.com but in all honesty if you change the direction of forexsignals.com and don't affect existing customers I don't see there being an issue which you have said that no existing signal / vip subscribers will be affected.

I am worried about a few choice words you mentioned though which could possibly affect existing customers. Listening to your video and reading some of your posts Nick it seems that existing customers may lose their signal / VIP subscription possibly within he next 1 to 2 years.

I for one like to dial in my risk settings and choose my broker which is not possible in the format your proposing. In all honesty if you do stop existing customer from accessing signals or VIP subscription I for one will be leaving the site.

I have stuck through the good and bad times with this site. I have had times of joy and times of stress with past and present traders. I am still in this game because of my dialled risk settings which is not possible with MAM accounts and ability to bail at a certain percentage loss. If I had followed a number of past traders without setting my risk appetite I would of blown my account several times over.

Please consider grandfathering all accounts which have supported forexsignals.com through the good and bad times.

Thanks.

[Zuttasoxx]

Personally I don't like the idea because I signed up for the signal side of things. In going forward it is probably a good business decision for forexsignals.com but in all honesty if you change the direction of forexsignals.com and don't affect existing customers I don't see there being an issue which you have said that no existing signal / vip subscribers will be affected.

I am worried about a few choice words you mentioned though which could possibly affect existing customers. Listening to your video and reading some of your posts Nick it seems that existing customers may lose their signal / VIP subscription possibly within he next 1 to 2 years.

I for one like to dial in my risk settings and choose my broker which is not possible in the format your proposing. In all honesty if you do stop existing customer from accessing signals or VIP subscription I for one will be leaving the site.

I have stuck through the good and bad times with this site. I have had times of joy and times of stress with past and present traders. I am still in this game because of my dialled risk settings which is not possible with MAM accounts and ability to bail at a certain percentage loss. If I had followed a number of past traders without setting my risk appetite I would of blown my account several times over.

Please consider grandfathering all accounts which have supported forexsignals.com through the good and bad times.

Thanks.

If it's up to Nick signals for existing clients stay.. But there could be outside factors that could override that wish.
It's all about the companies philosophy. And I think we can agree that Nick has the best interest in heart for the clients. But he has to think of what is best for the company too so it's a balance that he needs to seek and I think he is doing a great job.
And the MAM only is for new clients not for existing ones. And for new team members I think.

[Nick]

Personally I don't like the idea because I signed up for the signal side of things. In going forward it is probably a good business decision for forexsignals.com but in all honesty if you change the direction of forexsignals.com and don't affect existing customers I don't see there being an issue which you have said that no existing signal / vip subscribers will be affected.

I am worried about a few choice words you mentioned though which could possibly affect existing customers. Listening to your video and reading some of your posts Nick it seems that existing customers may lose their signal / VIP subscription possibly within he next 1 to 2 years.

I for one like to dial in my risk settings and choose my broker which is not possible in the format your proposing. In all honesty if you do stop existing customer from accessing signals or VIP subscription I for one will be leaving the site.

I have stuck through the good and bad times with this site. I have had times of joy and times of stress with past and present traders. I am still in this game because of my dialled risk settings which is not possible with MAM accounts and ability to bail at a certain percentage loss. If I had followed a number of past traders without setting my risk appetite I would of blown my account several times over.

Please consider grandfathering all accounts which have supported forexsignals.com through the good and bad times.

Thanks.

Hi Dazz,

- There are no plans to cancel signal subscriptions for existing members.

- Every existing client IS being grandfathered in.

- I can't give you a guarantee that signals will be available forever, but I hope they will.

The End

[dazz1975]

Thanks Nick. I do understand that you need to move with the times. I just like the idea and dialling my own risk in.

I do like your chatroom ideas and look forward to it being implemented.

Sent from my SM-G935F using Tapatalk

[Bangash]

Check out this gem of me showing one of the first ever trading rooms on the site.

....

I used to sit in this chat room all day waiting for people to drop in in the hopes of striking up a conversation. It's also back when I traded my own signal, Pound Dollar Profits is me

Good old memories of yours. Indeed, time flies.