I’ve been on a small hiatus from blogging the last week and a half or so. I had a great Thanksgiving with some family in southern California and enjoyed some down time. But through it all I was still trading. And the first month of my new signal service has come to a close.
So how did I do? Quite well, actually. Let’s take a look at what happened during November.
Off to a rough start
The first signal I opened is titled “To the Moon”. I started it with just $400 and had a great first week of trading. But then I began getting subscribers and that changed the game for me on a mental level as talked about here.
I still struggled with the terrible drawdown I’d taken. Metatrader has a 0.01 lot minimum trade size, and that’s more than I’d prefer trading on such a small account. So I thought the solution would be to top the account up to $1,000. But I quickly decided against that, determined to finish what I started: proving a small amount of money can build into something substantial.
As I came to grips with my poor start I started trading like my old self again. At the end of the month, I finished with a solid 20.36% return:
Overall, I’m quite pleased with that but still a bit annoyed that I took such a large drawdown. Just think what the account could have done had I kept my mental game sharp!
New Signal Launched on November 20th
The large drawdown I took on the To the Moon account annoyed me so much that I decided to literally start from scratch. On November 20th I launched the “Forex Made Millionaire” signal. The trade are very similar to what I’m doing in the To the Moon account. I just needed a clean slate.
As you’d imagine, that account has performed similarly:
I’m finishing the month with a 24.61% gain on a $500 initial deposit. Again, solid.
The drawdown here is still a bit high for my liking, but I’m restricted by MT4’s minimum trade lot size of 0.01. I plan to reduce risk as the account grows so that drawdown is more acceptable.
One of my goals with this experiment of providing a signal service is to give others an idea of what it’s like offering a forex trading signal. How many subscribers can you get? How lucrative is it?
I haven’t found these answers anywhere before, so I hope to pioneer this type of transparency.
Right now, To the Moon has 15 subscribers at $30 per month. Those subscribers hold funds totaling almost $23,000:
I haven’t received any payments yet, because SignalStart doesn’t credit my account until the first 30 days have passed. The first subscriber didn’t join until November 17th. So I should start seeing funds earned starting on December 17th:
You’ll also notice that my net profit is $315 even though total subscriber revenue is $450. That’s because SignalStart takes a 30% cut. It feels like a lot, especially considering I believe most of my subscribers have come via the blog and not from browsing SignalStart itself. Hopefully that changes as my history continues to build.
The Forex Made Millionaire signal is the signal I’ll be focusing on adding new subscribers to going forward, but that signal doesn’t have any subscribers yet. That said, I will continue supporting and trading the To the Moon signal.
Getting more eyeballs to the signal service via SignalStart will likely depend on getting on the first page of signal page. The FMM signal is currently sitting at #362 while To the Moon is at #485.
It will be interesting to see how quickly I’m able to climb the rankings going forward.
Overall, November was pretty good. There were a lot of trade opportunities, and I’m hoping we see a lot more of it in December. I’d love to hear if this type of post is interesting or helpful. Please let me know in the comments.