Discussion of article "How to Subscribe to Trading Signals" - page 48
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Well, I am not so sure about this.
I don't mind managing perhaps 2-3 open positions, but 20?? - also... the system in question, soon after I stopped subscribing some of the positions in one currency pair temporarily were in profit and the system (I am sure correctly) closed these with a small profit. I am simply not able to monitor the market say every hour to see what the situation is... otherwise I would not need to subscribe to a signal! so I now missed that opportunity to close at least some of the positions with profit as these positions now have also gone into deep drawdown.I personally think that MQL5 should at least offer the possibility that when one stops subscribing that the system continues to manage existing positions until they are closed. Perhaps not everyone would want that - one then can simply disable autotrade;) - but I think MQL5 should follow the example of signalstart in this!
If these positions are totally wrong may never return to profit, the longer you keep them the longer you risk the rest of your account, but this a personal decision of course.
I personally when I was cancelling a signal subscription as a subscriber, I was closing all open trades immediately.
MetaQuotes does not know the strategy of each signal provided so cannot implement such functionality nor are they responsible for any type of "management" of remaining trades.
It is up to the trader to have the necessary knowledge and skills to be able to manage the open trades (or decide to close ALL of them immediately) when they decide to unsubscribe.
When a trader subscribes to a Signal they take on that responsibility, and ideally they should reasonably understand the strategy being used. If they don't, then they are "gambling", not trading.
How can I sell my spike detector signal. Please I need an urgent answer. I do not want to continue the trade again. But the messages of the signal keeps coming in
Ge here and suspend or unsubscribe your subscription.
https://www.mql5.com/en/signals/subscriptions
MetaQuotes does not know the strategy of each signal provided so cannot implement such functionality nor are they responsible for any type of "management" of remaining trades.
It is up to the trader to have the necessary knowledge and skills to be able to manage the open trades (or decide to close ALL of them immediately) when they decide to unsubscribe.
When a trader subscribes to a Signal they take on that responsibility, and ideally they should reasonably understand the strategy being used. If they don't, then they are "gambling", not trading.
I would respectfully ask why Metaquotes cannot "implement such functionality" while Signalstart can? Surely if Signalstart can do this MetaQuotes can too??
after unsubscribing to signals at Signalstart they continue to monitor the existing open trades and close them when the system thinks this is appropriate.
As mentioned before, I am/was unable to monitor all the many opened trades all the time of the system I unsubscribed (otherwise I would become daytrader or similar) - had MetaQuotes (like Signalstart) this functionality I would have lost a lot less money.
(I would like to retract the negative comment about MetaQuotes)I would respectfully ask why Metaquotes cannot "implement such functionality" while Signalstart can? Surely if Signalstart can do this MetaQuotes can too??
after unsubscribing to signals at Signalstart they continue to monitor the existing open trades and close them when the system thinks this is appropriate.
As mentioned before, I am/was unable to monitor all the many opened trades all the time of the system I unsubscribed (otherwise I would become daytrader or similar) - had MetaQuotes (like Signalstart) this functionality I would have lost a lot less money.
From your answer I - increasingly- get the impression that Metaquotes are only interested in making money from purchasers but not really interested in looking after them, sorry just my impression from your answer and Elenis answer.
But does it make sense to keep the open trades of the signal you just unsubscribed from, because you think its untrustworthy or dangerous, managed by this same signal provider you don't trust anymore?
There is a flip side to your coin...
I personally when I was unsubscribing from a signal that had lost me money, I didn't want to have anything to do with it anymore and closed all remaining open trades instantly to save my account from total ruin.I have a signal, but why is it not visible to the public?
It takes for a new signal to be rated and ranked.