MoneyTec Traders Community Forum - View Single Post - Is there such a thing as profitable signals provider?

pixius · 29-07-2005, 22:23

The markets are not efficient, this fact alone is what makes them move. If everyone bought at a certain place then the price would ultimately stop moving as the result would be an equilibiurm.There would be no one to push the value higher or lower, since everyone agreed that the price was fair. If everyone were to trade the same system the markets would still move because we are humans and that fact means that we will all react differently presented the same situation. I may like a 20 pip profit you may want 100; so trading the same system yes we wil both get the same result(a winner) but our needs and wants will govern where we react.
I also do not agree with signals providers losing consitency etc. We are in the business of managing funds, we also provide signals based purely on performance. We are consistent but we dont buy into the myth of millions overnight. The market is run on leverage and many times it is the leverage of an individual that results in their demise. Regardless of if you are a professional or amature the result that you should be seeking is sustained growth over an extended period of time. The assumption that it is quite a bit of work to provide a signal service is correct. However the primary reason we do it and many others is the same reason we all trade...MORE MONEY. If you are a successful trader, why not just open a chat room and provide the signals in addition to your own trading. Multi tasking in this way can create more profits which is the reason we are all here. In addition there will always be people who just are not cut out to trade, or dont want the headaches yet want the benefits of this market. It is precisely these individuals that services are marketed at.
Finding a good service is not that hard if you look under the surface. If they wont allow you to pay only for the results after a profit has been achieved, THEN MOVE ON. The hedge fund industry was built on the premise of no gain no payments. Honest services will do the same. They know that if they perform they will keep their clients. They risk nothing since they are trading anyway and the costs to operate a site are very minimal. Those who charge monthly fee's are probably in it for the short term and looking for a way to fund their own accounts.
The free (insert number) day trials should also be avoided, past results can be doctored and do not represent future gains. The last 2 weeks one could hardly go wrong entering dollar long postions. This would have resulted in nice profits, for any service yet this week it became much harder as end of the month squaring combined with the dog days of august upon us and some signifigant tech levels approaching, resulted in dollar sell offs. So that same profit you had last week may now be gone, yet the service has the monthly fee.
If a service loses 100 pips and tyou paid $200.00 for that service you now lost 120 pips on a 1 lot account. The service has not lost a thing and can continue to charge you as long as you allow them. You are right that many traders can't afford the draw downs. In fact most will hold on thinking the service wouldn't be in business if they were not good. They hold out waiting for that winner that will bail them out. Some will even double up and risk more thinking that because the past results were so great they are bound to hit the big one next time. They fail to leave the service untill the account is beyond repair. They in the end lose more then their money they lose their confidence and self esteem. Trading is a profession like any profession it takes dedication and resolve. The Forex market is the great gold rush of our time. Problem is most are finding fools gold.

Pixius
I did not mean to offend anyone with my statements.

29-07-2005, 22:23	#21
pixius Banned Join Date: Jul 2005 Posts: 27 Downloads: 0 Uploads: 0 Rep Power: 0	Re: Is there such a thing as profitable signals provider? The markets are not efficient, this fact alone is what makes them move. If everyone bought at a certain place then the price would ultimately stop moving as the result would be an equilibiurm.There would be no one to push the value higher or lower, since everyone agreed that the price was fair. If everyone were to trade the same system the markets would still move because we are humans and that fact means that we will all react differently presented the same situation. I may like a 20 pip profit you may want 100; so trading the same system yes we wil both get the same result(a winner) but our needs and wants will govern where we react. I also do not agree with signals providers losing consitency etc. We are in the business of managing funds, we also provide signals based purely on performance. We are consistent but we dont buy into the myth of millions overnight. The market is run on leverage and many times it is the leverage of an individual that results in their demise. Regardless of if you are a professional or amature the result that you should be seeking is sustained growth over an extended period of time. The assumption that it is quite a bit of work to provide a signal service is correct. However the primary reason we do it and many others is the same reason we all trade...MORE MONEY. If you are a successful trader, why not just open a chat room and provide the signals in addition to your own trading. Multi tasking in this way can create more profits which is the reason we are all here. In addition there will always be people who just are not cut out to trade, or dont want the headaches yet want the benefits of this market. It is precisely these individuals that services are marketed at. Finding a good service is not that hard if you look under the surface. If they wont allow you to pay only for the results after a profit has been achieved, THEN MOVE ON. The hedge fund industry was built on the premise of no gain no payments. Honest services will do the same. They know that if they perform they will keep their clients. They risk nothing since they are trading anyway and the costs to operate a site are very minimal. Those who charge monthly fee's are probably in it for the short term and looking for a way to fund their own accounts. The free (insert number) day trials should also be avoided, past results can be doctored and do not represent future gains. The last 2 weeks one could hardly go wrong entering dollar long postions. This would have resulted in nice profits, for any service yet this week it became much harder as end of the month squaring combined with the dog days of august upon us and some signifigant tech levels approaching, resulted in dollar sell offs. So that same profit you had last week may now be gone, yet the service has the monthly fee. If a service loses 100 pips and tyou paid $200.00 for that service you now lost 120 pips on a 1 lot account. The service has not lost a thing and can continue to charge you as long as you allow them. You are right that many traders can't afford the draw downs. In fact most will hold on thinking the service wouldn't be in business if they were not good. They hold out waiting for that winner that will bail them out. Some will even double up and risk more thinking that because the past results were so great they are bound to hit the big one next time. They fail to leave the service untill the account is beyond repair. They in the end lose more then their money they lose their confidence and self esteem. Trading is a profession like any profession it takes dedication and resolve. The Forex market is the great gold rush of our time. Problem is most are finding fools gold. Pixius I did not mean to offend anyone with my statements.