Here are critera for selecting signal providers. I'm a relatively conservative investor and I want to grow the account, as safely as possible with capital preservation a high priority:
1) No large, open drawdowns.
I avoid providers that hang onto large, loosing positions for weeks or months. Ideally the provider should have no open trades, since I usually do my analysis on the weekends.
2) Consistent effort
I need to see at least one trade every 2 weeks or I assume the provider is disengaged.
3) 85% or better winning percentage
4) No "Painting the Tape".
Whenever I see an entire screen worth of the same trade, I assume the provider it taking multiple open positions. I'm limiting my trading to 2 open lots per provider at one time, so this is a negative.
5) No large drawdowns in History
Whenever I see multiple trades going more than -200 pips, in the account, that's bad. My stops are set to about 150 and those trades would all be loosers for me. Plus, I can't understand the fact that a trade would go that far against the provider without them closing it. I can't take those type of drawdowns.
6) Must have at least 3 weeks history.
7) Must have live, subscribed users.
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