Is it possible to have serious long term profit from trading 50k USD through signals?

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Hello everybody,

 

I'm looking for long term way, how to have some serious income from 50k USD savings and I see some possibility here at MQL5 signals.

 

In previous days, I studied forum here and articles and started to copy a couple of signals, based on their long term results. For now, with smaller deposit (4k USD), based on results in next few months, I want to expose my whole savings.

 

My questions are following:

  1. Does it make sense, or is it unrealistic?
  2. Does anybody here have long term experience with trading through signals and with deposit more than 50k USD - what profit in long term do you have through trading signals? What types of trading signals you prefer - more risky ones, conservative ones, or combination?
  3. I don't believe it is real to have such high growth as some signals here, e.g. more than 200% every year, in long term perspective, for last two or three years - is it really feasible? What catch is hidden there? In case it would be so easy, just to choose right signal with long history and big profit here and then copy that, what is it not doing everybody? I don’t mean signals with short history (less then year), but in case of long-term history (more than year), I expect their results are probable in future, right?

 

My strategy is following:

  • choose 5-10 signal providers, some of them more risky, some of them more conservative
  • Split my deposit to different brokers, to lower the risk too
  • And then to get income hopefully around 10% from whole deposit every month :)

 

Thank you for any comments/advices/tips/suggestions!

 

PS: I know it is prohibited to discuss here specific signal providers, but I will be happy to discuss it in personals messages with you, your experience and share my ideas, especially if you have some long term signal providers you are happy with, thanks!

 

Unless you know what you are doing, it is unrealistic. 10% a month is on the high risk side.

To know what you are doing you must be able to analyze the whole signal history in order to verify the history is not fabricated. MQL5 has made it impossible to view total history without subscription.

You must be able to tell from history of trades what type of strategy is used (for example, you can not make profit with scalping signals through subscription because of slippage), and that it is consistant throughout the history to make sure there is no change in strategy during the signals lifetime.

In order to know from a signal what strategy is used, you must have the knowledge to trade yourself and the risk involved in various strategies. If you know how to trade it is not worth it to bother with signals. 

 
Why not it is very much possible 
 

Thank you very much Enrique for your experience,

that was exactly what I was thinking, but I was hoping that trading through thoroughly selected signals, and through diversification to more signals and constant monitoring of signal results, it would be feasible to reach profits like 10% per month.

I already have some basic experience with trading, but right now I'm deciding, whether I should study/learn/deep dive into day trading more and become active full time trader, or whether MQL5 signals (or signals from some other platform, like myfxbook) could be reasonable way to reach mentioned profit, with less time needed to actively trade.

Any other experience, suggestions? :)

 

Like i said, to select the right signal you should have the knowledge. You can not just trust the description or the provider. If you have the knowledge, you would not bother with signals. 

You have to realize anybody with half a working brain cell can register today, start providing signals and call himself a pro trader.

To illustrate my point:


There is no short cut.

 
Enrique Dangeroux #: Like i said, to select the right signal you should have the knowledge. You can not just trust the description or the provider. If you have the knowledge, you would not bother with signals. 

You have to realize anybody with half a working brain cell can register today, start providing signals and call himself a pro trader. To illustrate my point: There is no short cut.

I especially like the first line of the description " If You Are Suffer from Losses??? Don't Worry, My EA is Here for You" 😂


 

Thanks guys,

just experienced it on myself when testing some signals with live account today: one of the most subscribed and most popular trading signals for MT5 - today completely gone, 100% loss....

Thanks to your advices and through this expensive experience, Im gonna be MUCH MUCH MUCH MORE careful and learning much much more.....


 
I think the best solution is either:

Crypto trading (but on a crypto broker, like Binance, and spot.

Or the purchase of action.

50K USD, in CFD trading, without knowing anything and taking signals....I wouldn't do it and I wouldn't tell anyone to do it.

Too risky.


Why not:

10K in trading (learn and do it manually or semi auto).
10k in crypto
10k in action

and the rest to have fun with your miss !
 
Benjamin Claude Henri Paul Ruaux #:
I think the best solution is either:

Crypto trading (but on a crypto broker, like Binance, and spot.

Or the purchase of action.

50K USD, in CFD trading, without knowing anything and taking signals....I wouldn't do it and I wouldn't tell anyone to do it.

Too risky.


Why not:

10K in trading (learn and do it manually or semi auto).
10k in crypto
10k in action

and the rest to have fun with your miss !

Thanks Benjamin for suggestion!

Yes, it sounds reasonable, investing and trading crypto is something, what I'm studing now too.

What do you mean by "10k in action"?

 
Targeting 50% in year should be very safe and not a challenge
 

I think reliability rating is important in this system. And I follow it's development day by day. The right signal is not always winning, that is, 90% profit / 1% loss rate. In a single mistake, the balance may disappear as seen in the pictures in the above posts. For example, I want to make an important point, how strong is the signal in protecting from damage?. Deposit load is an important indicator. and there are important indicators like this. Signals with 51% gain / 49% loss may be more successful because risk management may be better.

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