I’m insterested in becoming a signal provider, but don’t know if my system will work with C3. Can I broadcast from a demo MT4 account? Also, what kind of limitations are there in terms of number of open positions, frequency of open positions, lot sizes, etc? I can’t seem to be able to find this information on this site.
Eddy, it is my honest opinion that if you wish to become a signal provider then your signals should be ONLY broadcast from your LIVE account. The reason is simple, if you don’t have enough faith in your signals to trade them yourself then how do you expect others to subscribe to trade your signals? I know I wouldn’t.
Also a demo account is a lot easier to trade because there is no emotion involved, if the trade wins or loses, to the trader it doesn’t matter because the win or loss is not real.
"Also a demo account is a lot easier to trade because there is no emotion involved"
This is exactly why some should only give signals and not trade them themselves. Many will never be able to trade with real money but some of these people can paper trade very well and so paper trade is only what they should do. Trading is a mind game and some peoples minds will destroy an otherwise good system when their money is involved.
Allow those who can only paper trade to do what they can do well. Insist their own money is at stake and you better hope your money is not with them.
Just to be clear, Eddy, I no nothing about your trading, my comments were not directed towards you. Wish you the best!
Thanks for your comments. It’s not that I don’t have faith in my system, it’s that I don’t have enough money to have it trade properly in a live account. My system uses Monte Carlo analysis of the Forex market, and places a number of trades within a “probability cloud.” It likes to place hundreds of very small trades (as a percentage of principal) to average right around certain sweet spots whenever a high probability of a short-term move is detected. It’s a type of arbitrage strategy, although not risk-free. The problem is that I don’t have enough free capital to allow it to perform proper position sizing with these multiple trades.
I would also agree that in some cases it’s better to sell advise from a demo account, removing yourself emotionally from the process. Even though this system is entirely algorithmic-controlled, I’d be too tempted to take profits early or override the system from taking losses and make them even worse.
Soo… does anyone know if demo trading broadcasts are permitted?
The Collective2 MT4 -> C2 interface does not care what kind of brokerage account you use to generate your signals. Your subscribers might care whether you eat your own dog food, but on a technical level, it doesn’t matter.