Testing Signals; Fox Signals — Final Verdict — Glad I’m in, but I’m also out.
It’s a keeper, but I can’t use it. What the heck is this guy talking about?
It’s a keeper, but I can’t use it. What the heck is this guy talking about?
I am keeping Fox Signals for the days when I truly get into futures trading and understand what I am doing there.
Fox Signals
Fox Signals is an AI-powered platform generating highly accurate cryptocurrency buy signals. Discover the best deal for…appsumo.com
Fox Signals is also rolling out a new feature — Spot Signals, which will be a separate stream of signals in the menu next to Futures, and Nasdaq. All of which are included in the app.
I’ll be testing their Spot Signals as soon as they go live with it, and I’ll report on that here. Not quite sure what the difference is — how there would be a difference in the signal itself. I thought a signal was kind of agnostic to the method of trading you might employ on it, but maybe not.
However, even with this development — Spot specific signals don’t solve my primary problem…..
Fox signals is living up to it’s expectations with win-ratios, but the problem is that the math doesn’t add up unless we enter a position for EVERY signal. This isn’t Fox Signals fault, it would be the same problem for every solid source of reliable coin-specific signals if there is no way to automate entering positions.
Let me explain.
If a signal is trading with a 90%+ win rate, and you can invest in EVERY signal, you too will experience 90%+.
But what happens if you cannot act on every signal?
Let’s say 5 signals happen today, and out of them we have 4 wins, and 1 loss.
If I invest in every signal, then I too have gained 4 times, and only stopped at a loss once. This almost guarantees that profit will be greater than the loss.
But let’s say I can only open 3 positions that day.
And 1 of my positions happens to land on the loosing signal.
My day looks more like a 2/3 win/loss — which is 66% win rate.
Not as impressive, is it?
This is what I mean.
That 90% ratio only applies if we open a position for every signal.
But this is almost impossible because that means we have to be tethered to our phone and more or less be a full time active day-trader. The signals can also come in at night, and the mobile app is all there is to receive them, complicating things further.
What happens if you are a more casual investor who only invests every now and then, so you might only act on 1–2 signals every week or two?
Well, you are now officially playing Russian Roulette with your balances.
Similar to having a 6 chambered revolver with 1 bullet — the bullet is the loss, and the empty chambers are the wins, it’s being rotated daily — even without you being at the table — and you step in every few weeks and grab the gun and take a turn.
Freakin’ genius!!!
This …. doesn’t seem smart at all.
It seems like the worst idea ever, actually.
This truly needs to be connected to a trading bot or signal trigger inside of a platform to work at the 90% win ratio, and I may be repeating myself here saying that, but I wanted to drive the point home.
So far, there are no platforms that feed Fox Signals directly in a way where we can trigger bots to open.
I am keeping the app, and I am still glad to be lifetime licensed into it, but I cannot really make use of it for right now. I truly hope that Fox Signals become less covetous of their sacred signal and open it up to platforms so it becomes easier to build bots that are fed by it.
When I can finally automate trading on Fox Signals, it’s time to go hard baby.
FRFR. No Cap. Bussin’ and all that.
Thank you for reading!
Until next time….
Onward and Upward Everybody!
-Chris
A.I. Lifestyle w/ C.W. Morton
A few years ago I automated my primary online business to the point where it only takes me a few hours per week, and…www.youtube.com
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