Our vision when we opened the ability for users to browse signals through our network was to provide high quality, verified signals. Over the past year, we have had hundreds of signals join the network and its slowly got out of hand with useless signals. We have decided to clamp down on this and now there are even more stringent rules that signal providers must pass to provide their signals. This helps you guys browsing signals and also helps the signal providers get their quality signals shown to the public.
- All signals must now be linked to myfxbook stats. This replaces the default Simpletrader stats with myfxbook stats (the industry standard)
- Growth must exceed 0% (pretty obvious!)
- Master account must remain connected… if it doesn’t, signal will simply drop from showing to the public! There is no reason signal provider can’t remain connected 24/7
- They must have atleast 12 weeks history
- The master balance must exceed $500
We’ve tried to help users visibly find signals and have categorized signals. These categories may change, but to begin with they are as follows
– Verified signal – verified by the above criteria + live account
– Top Signal! – verified by above criteria + balance exceeding 10,000 USD
We have decided that to provide uniform statistics that signal providers will be required to have their accounts linked up to their myfxbook accounts. We believe in true transparency, and myfxbook are the leaders in forex statistics so this will provide uniform statistics across the network which will allow users to easier distinquish between signals.
This will be coming into place this week, so all signal providers must go into Edit Signals and setup “Myfxbook Stats Module”.
This is totally secure, all passwords remain 100% encrypted and the process takes just a few minutes.
- Login to your Simpletrader account
- Click My Signals > Edit Signals
- Edit Signal Settings
- click “Connect Myfxbook Stats” tab
- Enter your myfxbook login details – and click get accounts
- This will give you a list of the accounts within your myfxbook – you can select the account you wish to link your stats too
- Thats it!
As a signal provider, if you add a personal follower account to your signal, it will now add to your account in a disabled state. This stops the EA instantly opening any existing trades when you have yet to setup your risk settings.
This only applies to Personal copier and signal providers. Normal user signals go into “Requiring configuration” so you have a chance to set things up as you like before adding to your account.
We have had to release version 3.5 1 day after 3.4 as we noticed that when opening new trades if you are using Risk Balance – the calculation was still using master equity instead of balance.
We recommend upgrading to this version ASAP.
- Run Simpletrader Updater from start menu
- This will install 3.5 and remove your previous version
- Restart MT4 and drag the new version onto your chart window (old version will no longer exist)
- Confirm you have a heartbeat in Simpletrader control panel
Please take note of the changes and re-read the manual to understand how the change in risk balance is calculated. If you have existing trades this is going to cause changes to new trades being opened which may effect the strategy.
We actually have heartbeats for everything all the way down to trades. Signal providers can now monitor trade heartbeats on their signals page. Browse to the open trades tab and you’ll be able to see individual heartbeats for open trades.
We have also started monitoring this for you and if we detect any drop we will email the account holder straight away.
Simpletrader EA 3.4 has been released. This has been released inline with a few modifications we have made to the math’s when calculating slippage / execution time and pips on partial trades. This released is aimed at fixing partial closures reporting incorrectly.
If you are running version 3.3, to upgrade simply run the “Simpletrader updater” found inside your start menu (on windows 8 just type your windows key, then type simpletrader and you should see it)
We have released sender 2.5 which we recommend all signal providers upgrade too.
- New way of working out GMT using new MQL4 functionality – this is far more accurate
- We now use volume as well as lot size – this is a requirement for cTrader to function correctly
You can safely upgrade to this version with trades open. Please make sure you only ever run 1 sender EA on your MT4 else you WILL send duplicate trades which your followers will also get.
If you are testing the new cTrader EA – please disable the EA from trading any thing other than normal FX Pairs. It appears that cAlgo uses a different value for GOLD/Silver etc – so we are just working through this now.
You can read more on the forum @ http://www.forexsignals.com/forum/showthread.php/373-cTrader-EA-Beta-Release-Available-to-all?p=18908&viewfull=1#post18908