Dear FPA HEROES/HEROINES,
I am planning to invest some bucks in FX with signals service of a provider on MQL5.com
This is my first time of do such and I will like to understand some basic things.
1. Will I be the one to determine the LOT size to be traded or the trader?
2. Can it be profitable?
3. What are the mishap I should prepare for?
4. Is there any one of the signals you can recommend
seems there's no one willing to give a proper answer, let me try to put one.
1. you'll be the one who decide the lot size.
2. with a decent signal provider you will.
3. - perhaps the drawdown, some signal offer a very high return but most new traders never put fully attention with the risk ( drawdown).
- most profitable signal are comes from martingle trading type (lot increasement trading sequence), which means those account most likely a ticking bomb. perhaps there's someone out there who finally tamed the martingle system and keep gaining pips, but so far i never found one yet, and i personally been use martingle before, i;m done with it. so becareful.
4. match your signal provider as you needs. there's many type of investors, for one who willing to risk more and an explosive result would be their chosen provider, while an investor who seek more stable profit result, 3-10% monthly result would already meet their expectation.
well, mql5 are not the first to offer such feature, once i use similar feature with myfxbook, in my opinion they had more competitive rules for any signal provider before got approved, unlike mql5 anyone are automatically approve as provider. but their lack at brokers support while mql5 support any brokers as long it run at mt4 platform, i've done this subscribe routine and take 3 top provider run within armada ( now tickmill) account for months. my aim are not limited to subscribe but how to collect more trading knowledge directly from expert traders. it would be more convient to talk with them while we subscibe their signal service

. just keep in mind, stay away from martingle type trading system, unless you're truly aware the risk you may dont want to mess with it.