A Letter To Members - New Traders Coming On Board

[Nick]

Hey Guys,

I would like to thank everyone that has supported us this year. It's great to have such a strong community to work with!

Our hard work is starting to pay off as I get access to some amazing traders. We now have a dilemma - there too many new traders to chose from.

The aim is to recruit the best in the business to work with us here at LiveForexTrading. However we also need to sell trade copier signals to keep the traders financially motivated as well as supporting our site.

I would like to ask the community for your opinion on the best course of action from here. Keep in mind I have approximately 4 traders that have the credentials to join almost immediately.

Do I:

- Put the traders on a short 2 week trial and release their signals together?
This would create a much larger team. Not every trader would be active in the trading room and I wouldn't be personally investing in every signal like I do now.

- Select the most appealing one or two traders only.
This will mean that everything remains consistent. I will follow the traders with my own funds and they will participate in our community.

The traders that I'm considering adding are:

FX Viper - You already know him so I won't go into detail
FX Pendulum - He has also been very active in the forum and we will be going live very shortly with his signal.
New Swing Trader - This manual trader has a decade of institutional trading experience. He's very aggressive and capable of returning 50-100% per month if the market moves in his favour (obviously with a high associated risk). Trading activity is lower than many people like as he only opens a couple of positions per week.
New EA - I have a verified master account of $2,800,000. Yes, that's $2.8mil! I have history dating back to October and the strategy returns about 5% per month. The downside is that the trader behind this EA won't be participating at all here (much like FX Amplified).

Your comments are welcome

[victorherm]

Hi Nick,
I would choose FX Viper and Pendulum.
I'm also considering to buy a copier, however I don't like the idea somebody trade for me on my account. I don't know whether is possible subscribe to a copier just to get the signals.
I'm very newee in this business. Just started in the trading room a couple of days ago. For a few weeks I'd like to be in the trading room just looking what the experienced people do.

[Cashnet]

I would like to see you follow the current way that you introduce Signals. It's transparent, consistent and does not give people TOO many options.

[Fido]

I would definitely be interested in the New Swing Trader and the New EA for my test account .. I'm already running FX Viper on my primary account

[Cashnet]

I'm also looking for a nice safe 5% per month for larger accounts. There are many of us with large accounts happy with this type of return. The EA sounds amazing, please tell us more!

[happypips]

Hi Nick,

I too am excited to see this community growing, and I really admire all your team’s efforts and dedications working tirelessly towards your vision for the sake of your clients.
I think a combination of both would be good, meaning that you continue to cherry pick the best and most consistent traders and list them on your main website where your reputation is, and then you can also add the rest of the traders who have at least a three month track record on ConnectForex. This way, the more “junior” ones would still be able to compare their results with other traders alike and make them motivated to improve. Again, really appreciate all the efforts, and I hope all your members would also help you thrive.

[RogerM]

Hey Nick

Whatever you decide to do, don't feel as if you need to follow these guys with your own funds. The transparency here is absolutely the best I have seen anywhere and I don't think you need to go any further with that. In the early days it was a great mark of your integrity - I think that is established now, and if anyone wants more, I think it is unreasonable.

Stylewise, I agree with Cashnet. I like lower, more stable returns on larger accounts, but that is just a personal preference. TradeAlerter is my favourite kind of operator because I understand what he is doing, even when he loses, and he offers quick, coherent rationalisations of both his losses and wins. More like him would be welcome.

I'd also be inclined to shelve the '10 bagger in a few' years promo. It leaves you vulnerable to the temptation of excessive risk. Targets have to be malleable.

Keep up the great work mate.

Roger

[Turtle Forex]

Hey Nick!

I tend to agree with Roger...Your doing your DD before inviting them to trial the signal, there is only so much diversification that you can do. Eventually you may have maybe 20-30 signals, somewhere there will need to be a cut-off point as to how many signals you can reasonably trade with your own funds.

Awesome job bringing in this "new blood" I wish them all the best!

Happy Trading!

Joe

[Nick]

Thanks for the feedback guys.

I'm going to go ahead and offer all the stable signals I get access to. Hopefully success breeds further site traffic, because we need more members to give the new traders financial motivation to join the business model.

Keep an eye out for a few more traders in the next month or two

Hopefully we'll all do well from the new growing team.

[dkoster77]

Hi Nick,

I am new here. I know of two scalpers who work together. One trades the US NY open from 9:00 to noon E.S.T. and the other trades the London session and the cross over to the NY session. Each trader averages 100 to 300 pips daily. Some days they can bag in excess of 500 to 1000 pips. They run a daily trade room. I think they would be an asset to your traders. At this time the only way to follow them is to subscribe to there monthly trade room. Unfortunately this doesn't work for those that cannot devote time to be in the room. I know they would add benefit to this venue? I am willing to private message you with there names and site so that you could see if they are suitable for this service. Thank you. Daryl