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Signal Providers (Trade copying) & Money Management.

FullEnglishFullEnglish Posts: 3
edited May 2014 in Beginners Questions
Hello all!

I'm a bit of a noob to all of this. I'm being made redundant soon in one of my jobs, so it's important to me to get something going over the next couple of months.

I've started out by funding a trading account with £500 - and spending a further £150 on signal subscriptions via Signalpush.

I do NOT want to get into manual trading until I can afford to take out about £500 and fund a different account with a different broker.

The "normal" signal companies, I've setup so that no more than 5% is made on a trade. However, there are two high performing signal companies that I'm thinking about setting up as 10% on a trade. One of them managed 100% ITM for May (They only do about 2 signals a week - and yes of course stats like that won't last forever!) and the other, I've noticed has done very well in May and always seems to pack up shop if they get 2 trades wrong in a row.

Am I bonkers crazy for running those 2 signal companies at 10% ??? As I said, my logic is that they won't land me in a situation where more than 20% is wiped....and I can always review at the end of each day and set things up so they specifically cannot pull off a 3rd bad trade on me, by telling my SignalPush client not to do trades, if my balance is below a certain amount.

Any thoughts?

Thanks!




Comments

  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited May 2014
    As long as you can calculate your likely drawdown and know the associated risks you are then applying intelligent risk/trader management. IMO I would max out at 5% instead of 10% it seems to be the key for survivability of even good traders from a statistical point of view. 5% is also my max per trade and I am a really good trader yet never go beyond that. Another thing you can do is use splitting/diversification after lets say a 100% return from a provider take out the original investment sum say you put $500 and you are up $500 you then take that $500 out and apply it to another system/trader. This will help offset poor performance periods of a method/trader in time and keep you in the growth zone. The real objective to trading is to make money too many get caught up with trying to win a beauty contest which is pointless if you are willing to shoot yourself in the face lol... Previous system providers that hurt their clients like not to mention any names "VorteXz" which must have blown many accounts even at 1-2% risk his drawdown periods would have had upwards of over 60% drawdown at just 1% with 2% martingales which is 100% retarded. This guy even after being kicked off Signal Push will lurk around I hear trying to use another persons identity to trade under so be careful. Also do yourself a favor ignore all the posts by Ryan or Alum, Karol on and on and just look at the statistics of their performance. Too many untalented Sh*T heads there try to baffle n00bs with BS like whiney little b*tches looking for subs. You have all the information you need by the numbers you get from them. One trick you can use is go back through the providers history and see their worst draw down period then you can calculate naturally the %s as what you find acceptable and if you do decide to use a high risk model then at least make it work for you if you don't blow out then take the 100% gains and diversify into other SPs. Risk is relative this means anything you can make you too can lose in trading the slow and steady grinders in this biz as in all others are they ones who make it long term ;)

    By the way you English really have no respect for people who get laid off as you call them "REDUNDANT" I mean WTF do you know how insulting that is? Redundant def - adjective = not or no longer needed or useful; superfluous. At least in the U.S. we say you were laid off... Which at least somebody gets laid in our country!
  • FullEnglishFullEnglish Posts: 3
    Thanks lotzofbotz!

    Yes diversification has always been in my game plan and I'm very glad you've been telling many people as possible to diversify.

    As soon as I have the cash, it's going into either BeeOptions or StockPair, we'll see....then once just about everyone who has more than 60% in the SignPush universe has been soaked up into my empire, it's over to the Signal Index universe....mwahahahahhaha

    As you correctly point out, the stats speaks from themselves, so I'm not going to post up what I think of any of the signal providers.


  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited May 2014
    Well I hope you do well and you seem to have signs of intelligent life so I think you will just remember to take it slow and be a SNOWBALL rolling down hill you start small but if you keep going you grow further down the mountain and you become an AVALANCHE of money! You have inspired me to do a video from the quality of your post so STAY TUNED!
  • FullEnglishFullEnglish Posts: 3
    edited May 2014
    You say "laid off", I say "Redundant!" LOL.

    In Britain, to be made redundant means that the employee is redundant in the context that the job the employee held no longer exists. Example:

    "We no longer need petrol pump attendants because we have an automatic pump linked to the POS system."

    Which of course does not imply that the employee is redundant in the context of being useful to society.

    Besides, being redundant here in the UK is a legal term - there is a legal process the employer has to follow, so when someone British says they are being made redundant, it's also giving an insight into their financial position which goes something like this....

    "My regular income is coming to an unplanned end very soon but I will have an extra money to play with in the very short term, that could be put to use, I.E. my redundancy money."

    In the UK, if you say you've been made redundant, there's no shame or stigma, the first thing people normally cheer you with is "Hey, but still, there's the redundancy money to come!"

    Also, historically, "laid off" can also mean a temporary stop of work in a job - redundancy removes any ambiguity and also gives the very big hint that I have a small amonut of cash to play around with.

    Anyway........back to binaries, signal providers and brokers.

    In my plan, (Which you may disagree or agree with) I am going to max out the signal providers and get the monthly income up to a least £5k per month before diversifying into additional brokers.

    Why?

    Imagine I have invested £500 and have say 3 signal providers on the go with my first broker.

    In my 2nd month, I happen to have around £1000 in my broker account.

    If I was to get the 2nd £500 and open a new broker account that works with a different signal provider or 3, I would have killed off momentum too early because

    5% of £1000 is double than of 5% of £500.

    It would be madness at this early stage to diversify. I'm not worried about a broker going belly up in the next 3 months, I'm worried about putting all my eggs in one basket and that broker going belly up sometime in the next 2 decades.

    Right now, if my primary broker went bust in one months time, while it would be annoying, I would get my shit together and start again with a new broker - it wouldn't put me off binary options.

    My worst nightmare would be making it big, real big with just one broker and loosing the lot.

    I want to use diversification when I have something worth protecting, rather than be over cautious and have it hamper to speed to financial stability.

    What I would do, what I think would work for me, would be to wait until I have :

    A) Have every single provider that works on my primary account, that performs above 60% signed up and earning on my primary broker account.
    B) All the signal providers in A are being subscribed to on their top tariffs.
    C) At least 5k going through each month.

    Then I would start up the 2nd broker, with as many signal providers as possible, then repeat the whole thing when I get to 5k.

    I'm not saying that 1 is right over the other, I'm just suggesting that you might want to cover in the video the pros and cons of both diversification strategies and at least get the viewer to weigh up what is right for the circumstances that they are in.

    I'm prepared to have all the eggs in one basket for 3 to 6 months, if it makes it more likely that I can use automated traded binary options as my primary income in 4 to 6 months time.

    Others may not have the same urgency and may want to play it safer with their hard earned cash.

    So to sum up. I put my profits (and every spare penny that I have) into new signal providers with a performance of over 60% ITM, to turbo-charge the speed of ROI on capital in the broker account.

    I believe in diversifying the broker accounts to protect me only when I have something that would be a disaster to lose.

    Also, I've just remembered another reason for diversifying brokers. Looking at a broker like MarketsWorld - There is a ceiling on the size of the trades. £1000/$1000 per trade. Once a trader doing 1000 units per trade - with every signal provider that's worth using - it doesn't take a genius to know that it's time to branch out!

  • yaks8849yaks8849 Posts: 3
    Hi everyone, please is there anybody trading with Franco binary options trading signals lately, I want to know much about his signals before I comment my money, please waiting for quick response, thanks.
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited June 2014
    Everybody that I have known that has attempted to follow him has LOST money, seems to me to be a retarded degenerate gambler. I would stay away, but his videos are very funny if nothing else!
  • silvaniltdsilvaniltd Posts: 3
    Hi @FullEnglish, whats up with your Auto Binary Trading Software(s), how great are they doing and how many do you use now?

    Which of the software are you using, as I would like to join you in using some.

    Thanks
  • gatsby2016gatsby2016 Posts: 30
    Has anyone ever tried http://www.binaryoptionsbullet.com/ for trading signals? I am having trouble finding much out about them
  • BryanMacBryanMac Posts: 851 ✭✭✭

    Has anyone ever tried http://www.binaryoptionsbullet.com/ for trading signals? I am having trouble finding much out about them

    Scam
    Bryan Mcafee
    Hit me up on skype at Brymcafee (McAllen TX)
    www.tradingaxis.com
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited August 2014
    Not really a scam just meh software crossover method same exact thing as binary options buddy by the same people but due to marketing they pretended to not be the same company also because of how and with who they marketing with IE forexrobotnation which unfortunately biased their review the same as what michael freeman does with optionsbot2.0 which sucks more then bullet or this new one binary brainwave, again all of them are meh will never make the big money like us who hit the grind day after day... The issue is they affiliates get paid a good deal to promote this which basically means no honest reviews. In the end trading is work and takes talent you don't want to put in the time and effort you won't get the PAY.. Just like anything in life... All these lazy phucks that come in thinking they are going to make it RICH in no time = FULL RETARDS...
  • gatsby2016gatsby2016 Posts: 30
    Lotzofbotz and BryanMac, thank you for your honest review of this it really helps. Lotzofbotz, I understand your fustration with people who think they can just walk into this market and suddenly get rich, the reality is, that's where the money comes from; people who don't know what their doing. I understand the dangers and complications of binary options in general, which is why right now, I have been spending weeks of trading demo money on the NADEX and Marketsworld, and doing my own practice charts on stockpair. I turned to looking into options signals, because I am finding, these markets all seem to be so votile, that I am having trouble getting any deffinte advantage on trades. I look at charts and pay attention to both long term and short term patterns, even draw out lines to show where the current and past directions are taking the markets, and despite all this, I STILL can't seem to get any gainful trades beyond lower 50% at best. What are some of your own reccomendations for a beginner trader like me, to learn how to consistently get over 65% accuracy on trades, which is needed on most traditional european platforms?
  • chirag352chirag352 Posts: 12
    I guess I also had the same problem some time back.
  • gatsby2016gatsby2016 Posts: 30
    Hey has anyone used any signal providers by Michael Freeman including signalfeeds which he is associated with? Also, has anyone tried copying trades with spotoption? how is spotoption in general as a broker?
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    SpotOption is fine but the brokers its just too bad because they are the "CHEAP" solution for starting up that they have a whole umbrella of SCAM brokers with them. Micheal Freeman is just an internet marketer he deletes posts off his site that are unfavorable and pushes crap software like OptionBot 2.0 which he gets paid a high CPA. Marketers are not going to care you are just a statistic to them + or - and simply put "CRAP" sells as most people out there are 100% RETARDS and the marketers will make money off of this knowledge. Don't take it personally but you are just a # to them...
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    SignalFeed has a 7 day trial you can try oh and delete your cookies before you signup with them maybe you can negotiate for extras remember if you are a # to them you have a VALUE at least haha.. So try to get something for that VALUE or tell them to "FOOK OFF!"
  • gatsby2016gatsby2016 Posts: 30
    Have you tried any signal providers that you would reccomend? if not, what advice do you have for hour/daily trade consistency?
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited October 2014
    "I trade because I am a trader." I love to trade, so why would I let somebody else trade for me? If you wish to learn to trade, then a fun as well a free way is to use MT4 and SignalPush.com. What you do is simply note the time of entries and expires and match them up on MT4 with your broker just remember some people might use different TIME zones. From there use some basic indicators of variable lengths so you can see what combinations they were using. Watch the times of day they trade the size location of the trades and just try to notice any variables that repeat. The primary indicators you can use in combination with this are simple BBands 2-3 standard dev a 14 period momo a 5 period CCI and a 50% to 20% moving averages... That will cover most variables outside of that you can play around with different periods but that is what I tell people as a basic set of parameters. Maybe even use just a naked chart and backward engineer the indicators they use by watching the repeating values of the trades its really not that difficult. Beyond that true mastery comes with learning PA which is the #1 reason most of those good traders can't get above 70% win rates consistently as well as they have no clue on how to really use statistics to help filter their trades, which is a shame because I can tell many of them should have 3-7% higher a month ITM levels as they don't even trade that much geez...
  • dear123dear123 Posts: 83
    My opinion about signals services is that they are the hard nuts to crack, though you can take them into account for making any wise decision. Although I receive some good signals from my broker yet I believe in trading at my own.
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    The best service I have come across for trading copying currently is Signal Hive, they have a new tech the started the past two weeks that is just KILLING IT!Absolutely amazing! I am even starting to sound like an internet marketer!

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