Att Seniors: Using a copy trade service Y/N

HannesJoubert · Post by **HannesJoubert** » Wed Apr 30, 2014 6:58 am

Okay, on behalf of those of us that are crap at trading, I have more questions:

Is it a viable proposition to make use of a copy trade service in an attempt to make some money out of Forex? At least I won't feel guilty about not being able to trade if I lose my money

First thing that comes to mind is, if a person can trade for a living, why would that same person provide his / her services to others for a measly (relatively speaking) commission percentage, when they can grow their own equity virtually at will? i.e. because they can already trade for a living, they are not worried about earning commissions, so if they were to provide a copy trade service it would be for altruistic reasons...that is rare...especially considering that they would be taking "responsibility" for others money, and that is a stress that many would want to avoid.

If it is a viable option, what do we look for in a copy trade service? Equity growth? Draw down? Capital required? Commission charges? How long the provider has been, well, providing? Then there are other things to consider like, trader maturity, are they really what they say they are, moral risk (that above sense of responsibility) etc etc.

Has anybody here on this forum ever contemplated providing a copy service based on their own trading? Or is the fear that that would pollute the forum and change the dynamics of a forum that is largely politics free? Lord knows, we have capable traders here that would be able to do that...

Anyway, take this from whom it comes, a broken trader, that after 6 years still cannot turn a profit, even after finding this forum and some excellent systems....

I was just curious.

H

:youknow:

phil_trade · Post by **phil_trade** » Wed Apr 30, 2014 7:32 am

First thing that comes to mind is, if a person can trade for a living, why would that same person provide his / her services to others for a measly (relatively speaking) commission percentage, when they can grow their own equity virtually at will

I can answer this : why this trader will refuse to trade for customer and earn 25% fees of a big capital brought by many customers !

HannesJoubert · Post by **HannesJoubert** » Wed Apr 30, 2014 8:07 am

That is true I 'spose...

25% on 100, 200 accounts is a lot of 25%'s

I agree, so we have "sorted out" the motivation portion of the question...

The other questions still remain now, how would we choose a copy trade service, and would those esteemed members here on this forum, who can trade, provide such a service, perhaps through GP?

: :!:

:

jlcgarcia · Post by **jlcgarcia** » Wed Apr 30, 2014 8:29 am

Has anybody here on this forum ever contemplated providing a copy service based on their own trading? Or is the fear that that would pollute the forum and change the dynamics of a forum that is largely politics free? Lord knows, we have capable traders here that would be able to do that...

Hi friends,

I have posted many EAs in this and another forum that have been decompiled, modified and sold it with a different name. I have even published an EA that although it had been decompiled many times I am still trading it live from April 2012. Due to that scams, my last EAs have an expiry date, although I know this is a partial solution, because it implies to update them constantly. For that I am thinking about a signal service.

Let me explain:
I am using some demos for experimenting with different grid strategies, risk and money management, that later I use in my live account.

For that I have contemplated the possibility of distributing the signals of my live account, or any of the demos that I am running at the moment. If you see in my signature there are at the moment two demos that are profitable (LadyPokerFace and LadyAlejandra) and another one (LadyFame) that does not goes well (although I have learned very much with it) and I will replace it with another updated version (LadyMarryTheNight) that I think it is the safest EA I have written. (I have programmed so many EAs, that I am now using the names of the songs of LadyGaga to differentiate them

).

For me the principal question about an EA must not be: how much it earns? , but how it manages the DD ?

After many years I am trading now with profitability and low DD. I am a full time trader now, but selling the signals I think multiplies the stress of the trade.

Regards

José Luis

Post by **SpiderX** » Wed Apr 30, 2014 8:43 am

one thing to consider when using a service is your risk appetite and your growth target.
Some people prefer a car that drives at 20 km per hour and do not want it to crash at all...
while others like a car that drives at 120 km per hour and dont mind getting bumped every now and then.
It all depends on how fast you want to get to where you want to go and much risk you are willing to take to get there.

Cheers

HannesJoubert · Post by **HannesJoubert** » Wed Apr 30, 2014 8:43 am

Thanks for the replies guys.

JLC, so, will you provide signal / trade copier even though there would be increased stress, or have I misunderstood you?

It seems to me that as a signal provider / trade copier provider, you can afford to trade less of your own capital or at reduced risk % because you as the provider would be receiving commission that you potentially could live off of whilst accumulating capital in your trading account (think: nest egg?)

Just a few thoughts.....

H

:hi:

HannesJoubert · Post by **HannesJoubert** » Wed Apr 30, 2014 8:47 am

SpiderX » Wed Apr 30, 2014 10:43 am wrote:one thing to consider when using a service is your risk appetite and your growth target.
Some people prefer a car that drives at 20 km per hour and do not want it to crash at all...
while others like a car that drives at 120 km per hour and dont mind getting bumped every now and then.
It all depends on how fast you want to get to where you want to go and much risk you are willing to take to get there.

Cheers

Well this is the thing, as a "copier" you could / should take advantage of all types, perhaps allocating a larger portion of your capital to the "safer car", whilst employing a smaller amount to the "faster car"...and withdraw profits periodically or as they appear in order to ensure that your capital remains safe.

Remember, even if you keep your money in a bank at minimal interest rates of +-5% (here in ZA) your money is not guaranteed, so you can take the risk of making use of a trade copier, if you have proven to yourself (as in my case) that you are hopeless at trading...

H

:hi:

HannesJoubert · Post by **HannesJoubert** » Wed Apr 30, 2014 8:49 am

SpiderX » Wed Apr 30, 2014 10:43 am wrote:one thing to consider when using a service is your risk appetite and your growth target.
Some people prefer a car that drives at 20 km per hour and do not want it to crash at all...
while others like a car that drives at 120 km per hour and dont mind getting bumped every now and then.
It all depends on how fast you want to get to where you want to go and much risk you are willing to take to get there.

Cheers

But, I still do not know how to assess the above if I have made the decision to move away from trading myself and allowing others to do it for me, in whatever form that may take...

H

:hi:

HannesJoubert · Post by **HannesJoubert** » Wed Apr 30, 2014 8:58 am

If you are perhaps wondering why I am going in this direction....

I think that if I had put in the same capital into trade copier services, as I have put into trying to trade myself I am sure that I would have been in a better position than I am in now...I definitely could not have been in a worse position...

Or am I being to optimistic about the potential of using a trade copier service? I am assuming that there are just as many, if not more, sharks out there when it comes to trade copying, that is why I am asking the members of this forum as you guys tend to tell it like it is...sometimes a spade is a f@*)ing spade

H

:hi:

HannesJoubert · Post by **HannesJoubert** » Wed Apr 30, 2014 12:20 pm

No other comments, advise or offers?

I need help guys, please

Or am I just impatient? Guess that is why my trading doesn't work out

H

:hi: