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  1. #1
    Veteran Member randy1953's Avatar

    Lightbulb How about our own signal club? !!!

    I'm always thinking and learning. this is not to try to sell anyone anything so keep your shirts on.
    I am thinking how we can all maybe profit from having a signal club.
    Here's how it could work. We find what we feel are good decent signal providers lets say the top 10 out there.
    Only ones we can verify are good with a win rate of at least 65-70%. So what we do is subscribe to these providers and we split the costs by our membership which is the same price as the subscriber fee would be but much less because we are spiting that price by x numbers of members.

    Example we subscribe to 10 providers at $100 a month per provider. We have 50 members in the club so we are really paying only $20 a month for daily signals of 10 providers. what would happen is the actual member that is a subscriber would have a auto forward of the signals going out to all the membership so when I or another member get a signal all members get the same thing.
    This is only part one.

    The next part and probably more important part is we have a private live chat for all the members so when a signal comes through all of us can be doing a TA on that signal and give our feedback to see if we want to trade with it or pass.

    I'm not looking to make a penny off this idea except to increase the probability for all of us to win.


    I feel it's a good way and cheap way to get a lot of good signals for pennies on the dollar but beyond this we have the whole membership to give feedback on the signals. Now granted we won't have a lot of time to chit chat once a signal comes in but we will have enough time for each of us to do a quick TA of the signal and give our opinion.
    what we could have is like a poll that is set up in our chat room with a few boxes to check like It looks good I would take this trade, It looks bad do not trade etc . this would be a option to use or not use but I do feel the more heads we have working at something the better the outcome could be.

    Ok lets have some feed back. I for one have no problem paying $20 a month or even less for $1000 worth of signals per month.
    I really don't know how Signal Push works I know it's a very profitable copy trade set up from mostly manual traders but maybe it could also be incorporated in this kind of set up.

    Now I'm sure the signal companies would not like this idea at all but you know it's high time that traders get a break also so I for one have no problems with this kind of set up and also the live feedback we will get getting from out members.
    also as the number of members increases our costs go down at the same rate. If we have 100 members then we would be paying $10 a month for $1000 worth of signals. That's less than a Senior coffee I get a MacDonalds actually a lot less I think it costs me 69 cents for a cup of coffee. lol
    There is a lot of power in numbers for the whole can buy a lot more than one can. I honestly don't know a whole lot about signals providers. Maybe there are some that have a much higher win rate then others but cost prohibited to the average trader but in numbers we could all have it. all that I do know is this is a way to keep our costs way down and benefit from each others TA on the signals.

    thanks for listening
    You can respond here or pm me or both.
    Last edited by randy1953; 08-16-2015 at 03:36 AM.

  2. #2
    Solid Member boart's Avatar
    Interesting...I have been testing software this week to create signals....some of my managed clients want signals so I am being forced to look into a way to provide it to them.

    Your idea seems good on paper but already one instance will create a problem. 50 or so traders discussing TA on a signal? By the time a decision is made your window is gone. Secondly 50 or so members will NOT be all with the same broker. Expiry will cause problems for some due to entry times provided by the different brokers.

    To my mind the only thing that really works is when your provider hits the put/call button, it happens on your account if your subscribed. Even following a trade call on skype can cause problems.

    but not a bad idea...some signal providers ask up to 190 dolla for a month...that is really steep.
    Dear Optimist, Pessimist, and Realist:
    While you guys were arguing about the glass of water, I drank it!
    Sincerely,
    The Opportunist

  3. #3
    Administrator Martin Kay's Avatar
    We have free signals right here on CommuniTraders. Everyone can join an provide signals. So why paying for signals?
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  4. #4
    Master Member SeasaltMcFish's Avatar
    I would never pay for signals. It's wasting money you can use in trading itself.
    It's not even saving you time, since you still have to trade and still have to check if a signal provider is trustworthy and profitable. You also will have to win back the costs of the service, meaning you'll have a worse payout than when trading yourself.

  5. #5
    Moderator Kolyo's Avatar
    I don’t think that this is a good idea.

    Following so many dubious and even highly suspicious signal providers is full waste of time. Even with best selection possible I don’t think it will work and the money wasted need also to be considered. We have free signals here and they work for learning and for making your first profits too. Don’t waste efforts to search for a holy grail. We need independent thinking and open mind for new strategies systems and perception of the markets!
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  6. #6
    Veteran Member randy1953's Avatar
    where are you live free signals. I see maybe 1 a week from option signal but that's it.
    I think the idea is good and I feel there are some good providers out there.
    Yes the problem is always different brokers with expiry times that won't work. that's why having 10 providers everyone would get to play.
    the cost would be so low like a cup of coffee a day so no worries there.

  7. #7
    Veteran Member randy1953's Avatar
    Quote Originally Posted by boart View Post
    Interesting...I have been testing software this week to create signals....some of my managed clients want signals so I am being forced to look into a way to provide it to them.

    Your idea seems good on paper but already one instance will create a problem. 50 or so traders discussing TA on a signal? By the time a decision is made your window is gone. Secondly 50 or so members will NOT be all with the same broker. Expiry will cause problems for some due to entry times provided by the different brokers.

    To my mind the only thing that really works is when your provider hits the put/call button, it happens on your account if your subscribed. Even following a trade call on skype can cause problems.

    but not a bad idea...some signal providers ask up to 190 dolla for a month...that is really steep.
    yup I agree with a lot of what you said. First off no good signal provider can fill everyone because of the different brokers that's why with my idea you have a bunch of them at a fraction of the costs.
    I also agree about the time issue and TA. It's very true you will lose the window very quickly if you are waiting for everyone to join in.
    But even with the one trail provider I am using though I have not done a trade with them I still have enough time to run it through my own TA to see if it looks good. The biggest issue I see is having to weed out most of them that are junk. Anyhow it's just a idea. I am a firm believer that the more good heads you have around a trade the better the outcome to be ITM or to pass on the trade.
    Plus it would be a lot of fun to have 50 or so members in the live chat room when trading is going on. Trading DOES not need to be a solitary event though it seems like this is the common fair. It's like well I had to go through all my losses and pains to get where I am and you do too? I would like to see a new Paradigm where all traders can benefit and finally get some of the brokers money for everyone not just a very select few.

  8. #8
    Veteran Member Dan21's Avatar
    Quote Originally Posted by randy1953 View Post

    Plus it would be a lot of fun to have 50 or so members in the live chat room when trading is going on. Trading DOES not need to be a solitary event though it seems like this is the common fair. It's like well I had to go through all my losses and pains to get where I am and you do too? I would like to see a new Paradigm where all traders can benefit and finally get some of the brokers money for everyone not just a very select few.
    This is true. I'd like to join such a trading live chat. But the part with the signals hits a lot of walls. The accuracy of the providers, proving them good or bad, the time delay and so on. Personally, I wouldn't give money for signals too.

  9. #9
    Veteran Member randy1953's Avatar
    Quote Originally Posted by Dan21 View Post
    This is true. I'd like to join such a trading live chat. But the part with the signals hits a lot of walls. The accuracy of the providers, proving them good or bad, the time delay and so on. Personally, I wouldn't give money for signals too.
    Maybe maybe not my whole idea centers around having enough signals to toss around in live chat and come up with some winners. the price for the signals would be so small it's almost a non issue. I agree paying and taking signals just for signals sake makes little sense but using them to have something to look at and rate with a bunch of other live traders is something much different.

  10. #10
    Master Member SeasaltMcFish's Avatar
    I do like your enthousiasm, but I simply don't like payed signal providers. I wouldn't even pay a cup of coffee for signals and I think it would be a lot more. It's too easy to trade your own conditions.

    But if you like it, I could sell you signals....Wouldn't recommend it but I could provide some...

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