In this topic I am going to share my experience as a signal provider.
After spending 6 years trading in various markets I have launched my very first signal.I am a beginner with signals and EAs
Let see what kind of risk is involved in this type of trading and how we can manage and minimize the risk.
How we can optimize the signal and make it more efficient.
My signal is live now ,first trade was done 12 days ago.(last night my signal was withdrawn from the market due to the high risk associated with the high monthly return 52%. Anyway I know now roughly how much equity I need in order to keep the monthly profit under 50%) I am still in the testing and optimizing period.
I run it on MT5 platform. For the starting phase I choose to operate with Roboforex Pro Cent account.I got free access to the Virtual Private Server so I set up my Expert Advisor(Algoborg) there to make sure I will operate with minimal latency.
First encounter with the COUNTER PARTY RISK.
Its Friday now and non farm payroll data is going to be released in 7 minutes and guess what? For the first time I cant access my trading terminal through the remote desktop what I am using since the beginning.
Right now my robot has 8 open trade and 3 trades are on usd pair.Literally I cant access my robot since this morning,I am able to see the trades through the mt5 in my pc but I cant do nothing, just wait and see whats going to happen. Pretty bad situation.I am out of control due to an unexpected counterparty failure.(I emailed them my issue,lets see how long dose it take them to answer and solve this failure)
Anyway I was causes when I set up the robot.I was aware of this type of situations. The robot is able to withstand sudden market moves. We have to expect the unexpected situations and we have to be ready to deal with.
Useful,informative,educational comments are highly appreciated,similar experiences from which we can learn,please share.
Deceptive,misleading,spammy comments will be marked as spam.