Some Ideas to Select Trading Signals - page 5
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In an effort to help both subscribers and providers, I am trying to answer what I think are the two most relevant questions:
(second installment)
(A) Question: "What do signal followers really need and want?"
Answer: 1. Don't lose my money
2. Then make me some more.
(B) Question: "How can a signal provider best meet those needs and wants?"
Answer: See below
Preface: Followers that are new to FX trading DO NOT know what is best for them. They do not realize the risks that some high-flying providers may be subjecting the follower's brokerage account to. For example, they don't realize that the monthly USA non-farm payroll report is HUGE. They must watch the provider successfully navigate this potentially deadly news release. Because of this, they must do nothing with a signal system for a few weeks. The followers don't realize that max leverage and max margin is actually NOT one of God's gifts to man, but a flowing lava river of temptation that must be bridled and cooled.
1. Educate. So a provider needs to EDUCATE as well as have great results. Some providers teach about money management in their posts. They explain some of their actions. I think this is like the teacher of the statistics class I had in college. More than anything, she taught us to be good consumers and be mistrusting of the advertising hype. The more signal providers educate their own clients, the more the clients will learn and will repay that education by sticking around a bit longer than they might have otherwise when a system is not performing as well as it was.
2. Money management. A provider should discuss and demonstrate good money management. Don't take huge risks. Demonstrate slow and stable growth rather than flashy huge risky trades. They should keep use of margin reasonable and limit draw-downs by employing appropriate stops.
3. Improve their entries and exits. The essence of good trading is to minimize the bad trades obviously. I have been very guilty of mixing my swing trading and day trading methods when trading manually. I see a trade on a 15 min or 5 min chart, but I forget to drill down to the 1 min trade entry chart. I have been bit so many times.
(more to come)
Steven, (B) point is for me key for all subscribers!
Maybe (A) point is not so relevant to most of subscribers, since you have lot's of rich or die fans here ;-)
But (B) is very useful to select any methodology and I like too much your vision about Educate. I think a thread like this, in some sense, can help in this field, with guys like you bringing ideas like money management and improve entries and exits.
I don't know what are to come from you (idea 4., 5., ... 1025?) but one suggestion is include latency in your list.
Note that there are several scalping signals that, in some sort, are just profitable for the providers, because slippage problems.
Anyway, I think is very important we start to compile all ideas here to join and align them as a selection methodology, as the thread is growing.
I will think of a way to do that, where the authors and idea improvers are referred, any help is this sense is very welcome.
Ideas (and some dreams about the future in this field):
Who else is thinking in figure out a methodology for trading signal selection?
In Google (https://www.google.com/search?q=methodology+for+trading+signal+selection&aq=f&oq=methodology+for+trading+signal+selection&aqs=chrome.0.57j60j62l3.363j0&sourceid=chrome&ie=UTF-8) I found about 1,360,000 results, but if you examine the first pages, most of them are not really about the focus of this thread. And this thread is the first one link, as I stated some posts ago, to prove this collective myopia.
So, in my vision, this very relevant point is brand new and need more study to we all reach a new acknowledgment base and the frontier.
If a trading signal is an abstraction of instruments selection (and I believe that), a trading signal selection is a new infinite level of intelligence abstractions using the same initial abstraction, since you have more and more levels of selection.
Maybe this is not for humans but for robots, since just they can do this in real time and decide as smart as discrecionary traders.
And, as we have a big data to be analyzed in real time to help create selection methodologies, we have a real and state of the art challenge to address.
Idéias (e alguns sonhos sobre o futuro neste campo):
Quem mais está pensando em descobrir uma metodologia de seleção sinal de negociação?
No Google Eu encontrei cerca de 1.360.000 resultados, mas se você examinar as primeiras páginas, a maioria deles não são realmente sobre o foco desta discussão. E esta discussão é o primeiro link, como eu disse alguns posts atrás, para provar essa miopia coletiva.
Então, na minha visão, este ponto muito relevante é novo e precisa de mais estudo para todos nós chegar a uma nova base de conhecimento ea fronteira.
Se um sinal de negociação é uma abstração da seleção de instrumentos (e eu acredito que isso), uma seleção de sinal de negociação é um novo nível infinito de abstrações de inteligência usando a mesma abstração inicial, desde que você tenha mais e mais níveis de seleção.
Talvez isto não é para seres humanos, mas para robôs, já que só eles podem fazer isso em tempo real e decidir tão inteligente quanto os comerciantes discricionária.
E, como temos um grande volume de dados a serem analisados em tempo real para ajudar a criar metodologias de seleção, temos uma real e estado da arte desafio para enfrentar.
Steven, well remembered, I like some of stats too, for instance Risk of Ruin, I think this analysis is very relevant to be used in the selection methodology.
Note that they are now a new player and force in Autotrade, like MT5 (are they planing compete copying trades without a good client/server architecture? In my vision this is a lost of time and money, since without a great platform and architecture you don't have chances to compete in this field.
Now that is a competitor, perhaps we can get an official word from a moderator on if it is okay to mention competitors by name? Perhaps I am being overly concerned? Can we actually use all names???? I would love to talk about all the competitors. I have never written out Z in the forum because I don't want my comments to get deleted.
Now that is a competitor, perhaps we can get an official word from a moderator on if it is okay to mention competitors by name? Perhaps I am being overly concerned? Can we actually use all names???? I would love to talk about all the competitors. I have never written out Z in the forum because I don't want my comments to get deleted.
Now that is a competitor, perhaps we can get an official word from a moderator on if it is okay to mention competitors by name? Perhaps I am being overly concerned? Can we actually use all names???? I would love to talk about all the competitors. I have never written out Z in the forum because I don't want my comments to get deleted.
Indeed, but in my vision this competition is not a zero sum, and as far as I know this is not new here in the forum
Seems to me that if you mention a name, without a link, there is no problem. If you see me disappear, as moderator, is that I was wrong ;-)
Thanks, good clearing point.
Internal links are enabled, right?
Thanks, good clearing point.
Internal links are enabled, right?
Of course.
Seems to me that if you mention a name, without a link, there is no problem. If you see me disappear, as moderator, is that I was wrong ;-)