NexusFi: Find Your Edge


Home Menu

 





Selling your own indicator?


Discussion in Currencies

Updated
      Top Posters
    1. looks_one kevinkdog with 3 posts (3 thanks)
    2. looks_two JGSmith with 3 posts (2 thanks)
    3. looks_3 dezudezue with 2 posts (0 thanks)
    4. looks_4 peleus with 2 posts (0 thanks)
      Best Posters
    1. looks_one Koepisch with 2 thanks per post
    2. looks_two Big Mike with 2 thanks per post
    3. looks_3 kevinkdog with 1 thanks per post
    4. looks_4 JGSmith with 0.7 thanks per post
    1. trending_up 6,605 views
    2. thumb_up 10 thanks given
    3. group 14 followers
    1. forum 22 posts
    2. attach_file 0 attachments




 
Search this Thread

Selling your own indicator?

  #11 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, various
Broker: various, TDA
Trading: NQ,ES
Posts: 2,124 since Jul 2011
Thanks Given: 2,396
Thanks Received: 1,748

myfxbook.com and/or zulutrade.com (classic.zulutrade.com) are forex trade following sites where they support setting up a signal service. If your signal is that good, it will probably attract a lot of followers worldwide and commission deals with those sites are another way to "monetize" signals.

Visit my NexusFi Trade Journal Reply With Quote

Can you help answer these questions
from other members on NexusFi?
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Deepmoney LLM
Elite Quantitative GenAI/LLM
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Better Renko Gaps
The Elite Circle
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
38 thanks
NexusFi site changelog and issues/problem reporting
27 thanks
GFIs1 1 DAX trade per day journal
19 thanks
The Program
18 thanks
  #12 (permalink)
 
JGSmith's Avatar
 JGSmith 
Lübeck, Germany
 
Experience: Intermediate
Platform: NinjaTrader, MT4
Broker: FXCM, Interactive Brokers, Oanda
Trading: Forex
Posts: 151 since Aug 2013
Thanks Given: 61
Thanks Received: 55


Big Mike View Post
I would like to remind everyone to keep their comments civil. Everyone has to start somewhere, and not everyone is trying to run a scam.

Mike

I hope mine wasn't misconstrued as rude. If it was, I sincerely apologize and will limit myself to only posting during "normal" awake hours rather than at 1 in the morning when I should be sleeping and therefore not communicating appropriately. Haha

Reply With Quote
Thanked by:
  #13 (permalink)
 kevinkdog   is a Vendor
 
Posts: 3,646 since Jul 2012
Thanks Given: 1,890
Thanks Received: 7,338



JGSmith View Post
I hope mine wasn't misconstrued as rude. If it was, I sincerely apologize and will limit myself to only posting during "normal" awake hours rather than at 1 in the morning when I should be sleeping and therefore not communicating appropriately. Haha

I thought your post was pretty informative. Unfortunately, most vendors will not follow your advice, though.

Follow me on Twitter Reply With Quote
Thanked by:
  #14 (permalink)
paul79
Bucharest/Romania
 
Posts: 8 since Jan 2011
Thanks Given: 1
Thanks Received: 3

There are so many ways to provide your signals to the world that I can`t even remember all but here are a few that come in to my mind right now: PAMM accounts, Zulutrade, MQL community, simpletrader.net, Zipsignals, mydigitrade, curensee, collective2, etc.
Out of them all if you really can make money trading I do believe that the best and most honest way for both you as a seller and for the person that copies your signal are PAMM accounts...with one major flaw: your followers have to have the same broker. Why do I believe so? Many reasons, first of all you as signal provider -well better said account manager- will prove your real value beyond any doubt and gain trust from anyone investing if you really can do what you say because you cant blame slippage, errors of communication between signals, money management or whatever if you lose, its plain and simple your fault and your "followers" will sense that in a second and leave which is what you deserve if you make false claims. Then there is the cost of following which with PAMM accounts is the fairest of all: percentage from profit you make and only if you make a profit. See with PAMM accounts you cant trick people and it will take a long time, maybe more than 1 year, before you actually start to have someone taking you in to the consideration but its the way to go for real profitable currency traders as all of the rest of methods have big flaws both for followers as for providers of service. Take for example Zulutrade, a fake if you ask me, imagine that it lets the follower do the money management (at least from what I am aware of) and counts pips to rank traders, money management is a complicated issue and heavily linked in a very personal way with a specific trading strategy - trading is really not straight forward if you ask me - and such splitting the two is like having two people driving the same car, one with the wheel and the other with the pedals.
More when it comes to the way most of them reward the signal provider its just wrong if you ask me. Rewarding for each trade take by a follower as Zulutrade does or having a fixed $ ammount/month charged to customers as most others do is really not something any professional trader would want.
A lot more to talk about this but if you ask me the way to go is PAMM accounts or the "curensee" website I think might worth, rest of them are full of newbies both followers and providers.

Reply With Quote
Thanked by:
  #15 (permalink)
peleus
Philippines
 
Posts: 2 since Feb 2014
Thanks Given: 0
Thanks Received: 0

Quick question please for a newbie. If someone sells his indicator, does that mean that it's not working for him?

Reply With Quote
  #16 (permalink)
angpao
bandung indonesia
 
Posts: 14 since Sep 2013
Thanks Given: 0
Thanks Received: 3

hello guys,,
Do anyone here have good indicators??
Please pm me..

Reply With Quote
  #17 (permalink)
 
JGSmith's Avatar
 JGSmith 
Lübeck, Germany
 
Experience: Intermediate
Platform: NinjaTrader, MT4
Broker: FXCM, Interactive Brokers, Oanda
Trading: Forex
Posts: 151 since Aug 2013
Thanks Given: 61
Thanks Received: 55

Hi angpao

I would imagine most people on here have good indicators and most indicators that come standard in software are good - it just kind of depends in what you want it for.

What is your goal with the indicator and then we could probably help you find what you are looking for.

Reply With Quote
  #18 (permalink)
 
Jigsaw Trading's Avatar
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
 
Posts: 2,988 since Nov 2010
Thanks Given: 831
Thanks Received: 10,393

It's not easy.

People will hack your code. Other people will copy your ideas.

There's ways around the hacking but nothing is perfect. If you focus too much on that, you will not make any money because there will always be piracy. You just have to trust that most people will pay for the good stuff.

In terms of people copying your ideas - this is a pain, especially when you see people applaud other products because of things you invented BUT - the bright side is people copied you because they couldn't think those things up themselves.

So - protect yourself to a reasonable extent. Don't spent 80 hrs a week on protection. Just accept that people will copy your ideas and keep having new ones.

Then you'll be OK.

But if you are a one hit wonder....

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
Visit my NexusFi Trade Journal Reply With Quote
  #19 (permalink)
 
sands's Avatar
 sands 
London + UK
 
Experience: Advanced
Platform: Proprietary Analytics
Broker: Multiple broker + Multiple feed
Trading: Currently European and US equities
Posts: 443 since Dec 2013
Thanks Given: 257
Thanks Received: 234

Marketing. There's a hundred and one indicators out there, so you need to show the edge that it provides and put it on a user friendly accessible website. The other thing is picking a price point that will cover your work and look at how you intend to retain their business or if its a one off custom.

Honestly more money in that business than I first realised when I started training in this field. Whats the view out there, do you guys think the market is saturated? or that most people fail to apply the use of indicators properly. I tend to the latter view.

Reply With Quote
  #20 (permalink)
Thxo
West Java
 
Posts: 145 since Apr 2014
Thanks Given: 143
Thanks Received: 123


If you have at least 1+ year of profitable trading history (Real/Live Account), you can promote your "system"/ PAMM service on myfxbook (under Trading System) , or FF/ Trade Explorer (under Commercial Content).

or ...

rapacapintro (dot) com, here you can use Interactive Broker or MT4 Broker.

Good Luck.

Reply With Quote




Last Updated on May 15, 2014


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts