Signal Start
Signal Start offers reliable 24/5 email support and a refund policy, ensuring dependable service. Additionally, the white label option for signal providers comes at no extra cost, making the product both superior and cost-effective, continuously enhanced based on user feedback.
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I totally agree with you. I started recently on SignalStart and I'm so far performing great but still no good growth in terms of copiers. I have only 1 copier at the moment who is following me since day 1 and hence in profit of 10% monthly. But I see that SignalStart website seriously lacks a lot of features which makes it nearly impossible to attract more followers. I hope developer team of MyFxBook and SignalStart is reading these comments and hopefully will do something about it soon.
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Yes, good service, soon and my signal will be broadcast there!
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I now have been subscribing for 2 weeks to signalservice.com. To make money the lazy way.
All I can say is... I made money - LOTS of it -, I made 20% but lost 30% of the profit on Friday i.e. made $10k lost 3k. I am extremely analytical and need to know why (there were no EXTREME fundamental bias at the time of loss except it was the dreaded FRIDAY, the week as such had many more ups & downs in news - BIG PROFIT during fundamentals because of volitility).
Of my 13, only one followed the drop in EURUSD, the rest fell with a bang on the concrete floor pricing the pair and correlations opposite, bg loss instead of close the positions. They will now rely on martingale to recover the loss, scary for Mon & Tue.
Whatever you may deduce from the below, just know this: signalstart.com is the premium service for making money passively through subscribing to signals that have all history open for you to decide your own fate... or doom.
The signals that are most profitable (for short term i.e. 1 - 4 months), use martingale as a method of showing a high % of win. Even with 0.01, an EA will possibly multiply with each loss i.e. 0.01 -> 0.02 -> 0.04 -> 0.08 lots, some have more extreme multiplication. That does not seem like a train smash, but if an EA (or manual method) opens multiple positions the 0.01 and lose, they will open a sum of positions at 2.4 lots total after a very short time. You just wanted to subscribe to a low lot, right? Think again. And then you use a crazy multiplier factor.. check the provider's balance with his lots size, the do a calc to apply to yours. If you do not understand any of this... use a DEMO account first. Then play around with the factors, you will get it, I promise.
Read above posts about analyzing and reading history of trades, knowing history is the only way to make sure it doesn't happen again while you are in charge of your own destiny. I decided my own destiny is important, but this service is the best signal service, I enjoy the fruits, I want others to get 100% of what the purpose is of signalstart.com - TO MAKE MONEY, with as little as possible loss in between.
This weekend I looked at every single 800+ signal and realised martingale is the rise and fall of most of them. Period, ignore any comments they may write - they are lying "no martingale or grid", use your magnifying glasss and inspect their history. They do well until the initial lot size is multiplied between 13 to 26 times to show a 80 -100% win, but a huge drawdown AND OPEN POSITIONS do not count to losing positions, but they can be 3 months in a drawdown already.. or a Black Swan crash (0,01 lots became something like 3 to 5 lots)... but nothing serious happened technically or fundamentally at the time of a specific lot increase, it is just keeps on adding to your losing position.
And then I found the gems, the ones that are not even ranked or low ranked. No martingale. They use the same or 'slightky elevated' lot size with drawdown LESS than the top 200 tier. Vary from prices $30 to $300, but their win rate is high, but profits do not spike, so they are never seen on your dashboard... they have some drawdown, sure, but not the same as a winning or losing top tier over the same period of time.
I am giving 10 new signals a bash the next 2 weeks to prove my point, if you win 70-80% and lose 30-20% you should make money right? Well, most probably if based on an EA with Martingale/Grid, you wont within 2-3 weeks. In fact you will crash your account.
Love signalstart.com. I will make $100k in 4 months, but means lots of homework... and heart attacks. I am confident in the service and wish all martingale provders luck, but know the high % overall-win guys will eventually win, the ones who chose a lot size and not get tempted in recovering the losses, those who chose a winning strategy/EA and keep faithfully believing in their strategy/modus operandi. I am inviting more followers to find you guys, who are extremely successful at proving a quality, and reliable signalstart.com provider service. WE will find you and pay your subscription (please not more than $100 tho'...!!)
Again, good luck all.
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No probs, I just think some signal services deserve a bad reputation because they are based on marketing crap and untruths, even if "rated" by reputable FX websites as 5 out of 5.
Then some really don't deserve it as the followers:-
1.) Manually close winning & losing positions, just prior it gives more win or turn-around, they don't let the trade run its course, they blame the service provider for their loss. If it is a loss it is a loss, that makes it exciting to watch its ups and downs. Leave that close trade button alone. But if you have a repeated bad provider week in week out, cut your losses and find something better.
2.) Underestimate the value of risk vs reward. If one has a $1000 dollar account and wish to double it every month, it will blow. To get 5% - 20% with low/medium risk is absolutely possible with Signalstart. Add to the balance if you have spare cash, no matter how small. Get 5% - 20% on that again, and it will grow.
3.) Do not do their homework in reading the history of a prospective provider again & again & again. Then compare it to others on the list. Which one can you handle mentally (& afford)?
4.) Learn how the market moves (and not permanently watch your wins/losses rise & crash). If I have screen time I either watch some educational stuff on forex (youtube has STACKS of good stuff... and crap too.. on forex) or just flick through all pairs and see strengths/weaknesses of the market/guess the next move of the market as it unfolds. We have to become independent from signals eventually.
Best thing about Signalstart it does not use "copy master/slave" EAs, your acccount is just about hard linked, execution is fast and accurate if I compare with the provider's history or current open trades. Basta, now it is up to you.. make clever decisions, cheers... No mas, Money Maker.
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very good in-depth analysis very useful to those who wants to follow signal providers like me.
Thank you for posting such minute details.
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I've had no real issues with signal start. Firstly my experience with autotrader.
I used autotrader a years ago and lost thousands to firstly not knowing what I am doing, real novice, and also closing the account without checking if all trades were closed - they weren't, I assumed if you are linked and resign from autotrade, all trades would be closed. I closed my laptop and never opened the platform until months later, being down a HUGE amount. I received very little sympathy... but we move on...
Signalstart has many more quality signals but you pay, of course. No issues yet, but to set your desired min/max lot size compared to the providers historic min/max lot size takes a bit of manual calculating. The "multiplier" is rubbish, it gives you more hope & useless info than real facts that you can use. Lot size and risk is everything.
You manually should check what the provider's balance is, see historically what their min/max lot size was that they used, get a ratio and apply that ratio to your own balance, knowing what your comfort min/max lot size should be taking margin level, your balance and your stress tolerance is. Then only you can apply the multiplier with confidence, in fact DO NOT put on live trade until you had a couple of trades on your DEMO account to understand how each provider trades. Only then you can play with the multiplier for each and every different provider to set to your needs.
I honestly have been profitable, by firstly being very conservative in at least a week for each provider (low lot, but never let it go "under 0.01", which if a provider uses 0.01 as his lowest lot, setting your multiplier too low, let's you deal in too many 0.01 lots, when actually the provider meant to go e.g. 0.10, then some 0.03, then many 0.01 lots. If your multiplier is too low it may be 0.03, then only 0.01 lots, which may (not may will) go against his strategy and you will lose for sure. Now that is all in ratio with your own balance. If you have say $1000, but the provider only has $100, all sorts of havoc can happen if you do not know how these ratios work. I have a healthy balance and trade not more than 0.3 to 0.5 lots per trade, which still ends up to be a good low % per trade/total trades for MY balance, everybody is different.
NOW the next is the secret of signalstart (or any autotrader, signal service):-
Carefull, when subscribing to a provider, UNTICK the box to take current open trades. The trades may be already at the dead end of a big loss and still getting bigger loss, rather take new trades when they arrive. Big losses is possible with this, I already asked them to default this box to UNTICKED, but not happened yet.
You absolutely need to view historic trades of AT LEAST a month of any signal service, longer if there are only a few trades per month. If your desired signal service can't/won't/does not have historic trades, verified by Bluefx, mql5, myfxb, FORGET IT, move on. That would be silly to read through their marketing material which are 222% lies and manipulation. Money talks, bullshit walks. Autotrade and Signal Service have enough info for you to be able make a fair decision of how providers trade.
And then the crux. Some traders do not mind big drawdown for big profits, that is an aggressive style of trading and not if you have money to lose, it is slightly like playing or gambling, but some can make short term big bucks. My money is a true investment, so I look for low drawdowns for fair returns. But it does not help you pick somebody who has 1% DD and his return is 0.5%, let's say you want to get 5% from this person, can you calculate what the drawdown would be/could be...(homework)?
So DD% vs a good (better than average) historic returns% over a period of your choice should be your goal if you wish to grow your account slowly, but safely. I pick providers with max DD of 5% - 10% and then see, how long it has been trading, how often does it trade, are there long losing streaks and does it then martingale slowly or crazy. And I honestly can say that of the 7 providers that I have, only 2 are still under "investigation", I am confident the other 5 will not go ballistic on loss (or win for that matter). Remember, very few are manual traders, most are EAs, but it is still a human who programs and sets the risks on it. Please DEMO first, can't stress that enough.
Also low DD filter only gives a handful of providers which narrows my choice. But remember is all relative once you use the multiplier for your trade account size and DD% will adjust as you change your risk.
And please do not think that others with a DD of higher than 5% are bad, there are some quality signals out there with drawdown of 15 -25%, just I personally can't handle it or afford it over time. Most accounts do not mind as they do not rely on it monthly/yearly like I do. Hope it helps, busy testing my own manual trading style and will be a provider in a couple months with 7% DD and monthly return of at least 15% based on $10 000 base.
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But you can find the providers on MFB and communicate here.
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yes thats true signalstart dont let communication between provider and subscribers.
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"Connect with each other easily?"
Wrong - the whole idea behind SignalStart is to prevent contact between signal providers and investors, so they will not be able to communicate and the business will remain purely business.
A signal provider can communicate one-sidedly with his investors by editing the description section on the signal page.
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Very good platform, and all my clients are happy so far.
I would be more happy if they would keep renovating it with new features.
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Signalstart is a good option for both intermediate and beginner traders and investors to connect with each other easily.
Because a highly professional trader with long track record will definitely choose a MAM/PAMM option in a forex broker or hedge fund and may not be offering a signal service for various reasons.
Also, an intermediate and not a highly successful trader is still much better than a beginner in forex trading and he has more experience than a completely new trader. So by copying the trades from a partially successful trader is still a better option for a beginner instead of simply gambling with real money by directly trading by himself.
Though signalstart has many limitations, but it can be very useful especially for many beginner traders and investors if they choose the signals carefully.
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I am glad to work with signalsstart since it started. I get my money on time and I am happy my signal is live and ticking on signalstart from last 9 months now with very stable returns.
I request to keep an option to talk with our followers. for better communication.
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I have to agree that so far you have maintained a overall good trading profile.
However, I am referring here about high risk traders who target high monthly % return like 100%,200% per month and not about low risk traders targeting 5% to 20% per month.
Obviously, it is very difficult to affect the trades of a low risk trader by any large entity or corporation as well, because in order to do that the market has to move hundreds of pips in one side which is usually impossible except for technical glitch or flash crash events etc.
But for a high risk trader where his margin call or max DD is 20 to 40 pips away and who is trading millions of USD using high leverage can be easily affected by a big player and a regular broker or hedge fund can easily do that for sure.
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It seems to me like you chose the wrong signals to follow, truly.
The best signals are NOT the ones which attract most subscribers, because the "herd" wants quick gains, high risk and a quick get-rich plan, and it doesn't work like this.
Want a signal which won't get wiped out fast? I advise looking up for my rules of signal searching and following them.
And if you're in doubt, pick signals of accounts which are at least 1 year old.
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true.
Unfortunately, that is the reality of the forex trading and signal service.
But actually it is not always the number of subscribers which make the algo fail, rather it is the volume of money which make the algo fail.
Also, usually the 100% winning systems busts easily, because the signal providers don't want to loose their track record of trading by closing in loss and ultimately wipe out the balance. That is exactly what the big players take the advantage and manipulate the price for a couple of times and all money gone.
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this is entirely due to what traders and system analysts call "capacity" or "divergence".
The more simultaneous funds that are being executed with one system, that system must not have high divergence. otherwise it's "capacity" will destroy any profits gained.
Darwinex explains this in their "Investable Attributes" of "capacity". See DARWIN BUX, BUC, and XUX to understand these performance metrics.
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I have already ventured on this path that you have described above -- over the past 25 months. And I have done all the things you are talking about.
I do not wholly agreed though about brokers/funds targeting a signal once it becomes popular. No intervention or manipulation on their part can have anything to do with open trades of a signal provider. these are straw man arguments. common excuses for poor performance.
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In my short history I can confirm this for a few signals already. When I join a signal it has not so many followers, then after a few weeks there are hundreds of followers. Then it busts. History repeating.
The ugly truth is you have to figure it out yourself and let nobody join your strategy :-p
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It is usually difficult to find reliable signal providers to continue with them in long term. Same is true to become a long term signal provider as well.
Because for someone to become a popular signal provider, he has to make very high % consistent daily return, otherwise, no one will even look into the signals. In order to do that obviously the signal provider has to take high risk in his account.
Next, once it becomes a little popular and number of subscribers become more, it becomes the target of big players like brokers or funds who can just manipulate the market price a couple of times so that the account will be wiped out and signal will collapse.
Many of the subscribers who have been following signals here will agree with me for most of the signals. Only those signals which makes a very low % return may continue for long time, but again the signal provider may not find much subscribers and he might be profitable even more by offering MAM.
In my perspective, the best practice is to start taking control of the signals and it's followers amounts etc once it becomes popular to fully monitor the trades and it's activity so that the trades or trading system will not be misused or manipulated by big players.
Though I was not sure whether to provide signals or offer MAM service, finally I have decided to start as a signal provider first in high risk mode and then, proceed from there. My signals might be available within next few days or weeks.
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There are several good providers, thanks!
