Hi meanreversion
I am an expert on this subject so can give you some really indepth information on this.
You have a couple of different types of signalling services in their widest range
1. A trading room environment where you listen to what people are doing and follow them when they place trades
2. A text, email service where people get actual trades sent to them or trade set ups if they get to a certain level, some then send text, email when they want you to close them, but not many.
3. A website/visual service where you watch the website which is password protected and they call th signals on the screen and you follow, some but very few tell you also when to get out but not many
4. A web/interactive system where you get tardes through the website but also a quicker method like messenger where you get the trades written to you as they happen. A very few even do exit trades aswell but not many This is the best method.
5. Nobody has really done this yet but i have investigating and have a quote and specification from a software company to have special software that picks up the providers trades and duplicates them on your home computer so you switch on in the morning set the program up put in how much you want to trade per point for the day and you check it again in the evening to see how much you made. What a revolution.
Now as you can see the one thing that hardly any signal provider does is give you exit signals because that would hold them totally accountable and they dont like that. There are few who do but not many. Now lety me explain why. They use the term Maximum points achieved on the trade so their performance figures use these, but its easy to see after the event how far it went and when to get out with maximum points. Noone can do that unfortunately. But it gives these people the chance to show huge profits to lure people in. Take this new advertised signal service from Tom Strignano and Vladimir Ribakov ( hopefully spelt correctly). Tom sends out signals on the screen so you trade. He then gives you 5 or 6 target points. You dont get the close alert from him he says you should decide yourself on exits. Why would he say that if he is giving a signal service. If he is making as he says then why not give the exit signal. The answer is he can show inflated performance but from ewhat i have heard from a colleague of mine has subscribed and its not as seen, the trades nearly always make much less than he claims and often losses. A signal service that provides point 4 and gives you exits and still has a good performance is a gem.
I hope this has helped you and others understand a bit more
