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steveowen

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Everything posted by steveowen

  1. Unlike most signal providers out there, Signal Trader’s unique service is based on the client being able to get an innovative view into real trading accounts of proprietary traders via a virtual trading room environment. The prop traders are trading on a full range of financial instruments such as forex, commodities, and stock indices, all of whom are hand picked by Signal Trader after an extensive screening process. After signing up with Signal Trader, opening my new Forex.com brokerage account and linking it to their system, I was able to view the prop traders’ open positions, trading history, account balance, equity, margin and profits, all in real time. Furthermore, aside from being able to view the traders’ signal alerts on the specific instrument charts within each trading room, I was also able to set my account to receive signal alerts based on the traders’ activity via email. After checking out some of the trading action in the various prop trader rooms, I was finally ready to select the prop traders with whom I wanted to link my real account, via “Auto Execution Settings” page. The two variants were as follows: 1) I could either selects the “Mirror Trading” setting for a particular prop trader, and sets a mirror ratio of 3:1. This meant that, for example, a trade opened with a 20K trade size for all instruments traded by that prop trader will be opened with a 60K trade size in my brokerage account for those same instruments or 2) I could select the “Fixed Trade Sizes” setting for my chosen trader(s), and, for example, selects two of the five instruments traded by that trader and sets the size of each to be 0.1, which would open trades of one mini lot for those particular instruments in my brokerage account, no matter the size of that prop trader’s trades. Myself being a Forex.com client, one drawback I noticed is that I can’t have Signal Traders indices trades go through in my account, since Forex.com doesn’t support indices trading. So for those interested in autotrading on the S&P 500, Nasdaq 100, DAX, and others, I suggest going with brokers that support trading major world indices. Better to do it sooner than later, because from what I could see in the “Trading Rooms Overview”, Signal Trader’s indices specialists are up a combined 7% over the past 2 weeks.
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