Your Suggestion

[LoRio]

Hello Guys ,
I am about to publish my trading strategy on a website .
Basically , i'll be an IB and provide a signal through MT.

Now.

I dont want to go positive and glamorous only in regards to promoting it.
I will incorporate videos of the system failing as well, and several reminders for users to check both the positive and negative sides before signUp.
I will even include a test before registration , where if you dont pass , you cant register.Such as if you dont understand theres risk , after seeing that the negative is possible ,that means we cannot work together.

My view is , this Utter-Honesty approach might actually scare of or , come of negative to newcomers and make them seek the more glowy , positive only be a millionaire tommorow types of marketing.

What are your thoughts?

Thank you .

 

[Pharaoh]

The clients who only want to hear how quickly they make money will be more likely to be scared off by real statements of advantages and disadvantages. Those clients are also the ones who will scream SCAM the moment you have 2 losing trades in a row.

Personally, I'd take it one step farther - a signals provider or account manager who is also an IB has an inherent conflict of interest. If there's a trade you are thinking of taking, knowing that you'll get an IB commission for placing it might lead you to take a trade you would otherwise skip. Even if you don't do this, your clients might accuse you of this every time a trade goes wrong.

 

[LoRio]

That worries me .
I mean the mass , wants the magic pill .
We live in the TLDR(Too Long Didnt Read) era ,meaning , pop some music , a bikini model with a lamborghini photo , title it "Make monehey" ,and pow you sold.
Im worried that me not stimulating their fantasies might lead to no followers.
Off course , in our era , one could try both approaches! (2 websites)

 

[LoRio]

a signals provider or account manager who is also an IB has an inherent conflict of interest. If there's a trade you are thinking of taking, knowing that you'll get an IB commission for placing it might lead you to take a trade you would otherwise skip.

True but , if their accounts survive longer :
1.more followers.
2.bigger commisions out of the (now) bigger client accounts.

Unless i fight with my woman and i go full risk short on a kiwi rally

 

[Pharaoh]

Look up Rizwan Awan here at the FPA. He'd trade profitably, then suddenly blow accounts by churning for IB commissions. He could have made FAR more money by continuing to trade profitably (even for a month), but decided he needed more cash NOW.

Then he'd start a new website and repeat his crimes.

He's not the only one who does this - just one of the worst. This is why I recommend never allowing anyone with any level of control over trades to also have the conflict of interest if getting paid per trade.

I'd rather pay a little more for a signals service or a couple percent more of profits to an account manager than have to worry about what getting paid per trade (win or lose) could to do the trades placed in my account.

 

[LoRio]

Look up Rizwan Awan here at the FPA. He'd trade profitably, then suddenly blow accounts by churning for IB commissions. He could have made FAR more money by continuing to trade profitably (even for a month), but decided he needed more cash NOW.

Then he'd start a new website and repeat his crimes.

He's not the only one who does this - just one of the worst. This is why I recommend never allowing anyone with any level of control over trades to also have the conflict of interest if getting paid per trade.

I'd rather pay a little more for a signals service or a couple percent more of profits to an account manager than have to worry about what getting paid per trade (win or lose) could to do the trades placed in my account.

I understand .
So even in a losing cycle , one can be easily accused.
I m not defending the person you mentioned.

 

[Pharaoh]

So even in a losing cycle , one can be easily accused.

Correct. And some people are always looking to cast blame. Do you really want to hand clients an excuse to nitpick every losing trade as "you only place the trade to get IB commissions"? Even if you never think about it and those commissions are negligible compared to signals fees or account management profit sharing, it's a hassle that just isn't worth the effort to deal with.

 

[LoRio]

Correct. And some people are always looking to cast blame. Do you really want to hand clients an excuse to nitpick every losing trade as "you only place the trade to get IB commissions"? Even if you never think about it and those commissions are negligible compared to signals fees or account management profit sharing, it's a hassle that just isn't worth the effort to deal with.

Im thinking about including a pre-registration test .
To which if the prospect fails to recognize risk -> bye , nice to know you.
And Registration Agreenments.
Off course all this could be a fasaud , and i might be really commision hunting.
Im saying , you cant prove anything from any side.
The only possible thing is naggers gonna drive away possible clients.

 

[Pharaoh]

A pretest for potential clients - GREAT IDEA!!!!

1. You check your account. There have been 20 large winning trades and the last one had a small loss. How do you react?
a. Realize that even the best trading plans will suffer loss and be grateful that risk management contained it and I am still in significant profit.
b. Call the police and report my account manager as a criminal.
c. Call my account manager and make him spend an hour on the phone listening to me whine about it.
d. File a complaint with the CFTC, NFA, FBI, and CIA.

 

[LoRio]

A pretest for potential clients - GREAT IDEA!!!!

1. You check your account. There have been 20 large winning trades and the last one had a small loss. How do you react?
a. Realize that even the best trading plans will suffer loss and be grateful that risk management contained it and I am still in significant profit.
b. Call the police and report my account manager as a criminal.
c. Call my account manager and make him spend an hour on the phone listening to me whine about it.
d. File a complaint with the CFTC, NFA, FBI, and CIA.

e.Hit on his girlfriend and sleep with her for revenge.