Copy Trading why don't more traders use the Signal service here on MQL5? - page 2
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I don't take this as a good example, either. Because those people do not lose all their subscribers' money. All funds have some risk limitations. It is perfectly normal to not always be profitable. But is not normal to blow the entire account or almost all of it.
I don't take this as a good example, either. Because those people do not lose all their subscribers' money. All funds have some risk limitations. It is perfectly normal to not always be profitable. But is not normal to blow the entire account or almost all of it.
You are almost right, but if you check which signals are blown up, you will see that are these which produced 50-300% monthly, so the risk was not high but extra-terrestrial!
Also most of the blown up signals have a max drawdown of 40-60% in their first few months, you don't need to be a fortune teller to predict their outcome...This is correct. carefully checking past performance saves you from some headaches.
anyway, all that i wanted to say in the beginning was that mql5.com could do more to encourage a more reasonable behaviour from the signal providers. this would also increase the trust in the signal service.
some solutions include not getting subscription money if your dd passes a certain limit and access to the signals published in the past and that are no longer active (at least to some basic information about them).
This is correct. carefully checking past performance saves you from some headaches.
anyway, all that i wanted to say in the beginning was that mql5.com could do more to encourage a more reasonable behaviour from the signal providers. this would also increase the trust in the signal service.
some solutions include not getting subscription money if your dd passes a certain limit and access to the signals published in the past and that are no longer active (at least to some basic information about them).
All these are nice ideas, but someone may say that they should allow signals of various risks levels for all tastes.
I've spoken with people here that they don't care if they lose or if there is a high drawdown, they want to risk big and they are ready for it.
The bottom line is that when you are in doubt, there is no doubt, when you see a signal that has 150-300% monthly profit and a -49% max drawdown already, chances are that it will not survive the next few months.
I rarely see signals with 3-5% monthly profit and a low max drawdown that blow up, but nobody likes such signals...