Trading systems that cost $50,000

[MickMason]

Originally Posted by foamgod

Why would having more people using it ruin the system? If everyone (many people rather i.e. more funds) follows your buy/sell signal, then your system will become a self-fulfilling prophecy, thereby increasing the success rate.

Quite possibly, but the point was why risk it? How many consistently profitable automated systems do you see for sale? Doesn't that tell you something?

Zupcon suggested it was an astute business move to sell a system, on the contrary it's a short-sighted view.


Mick

[foamgod]

Originally Posted by MickMason

Quite possibly, but the point was why risk it? How many consistently profitable automated systems do you see for sale? Doesn't that tell you something?

Zupcon suggested it was an astute business move to sell a system, on the contrary it's a short-sighted view.


Mick

It's hard to comment really. We have to be the author of the system to know if his can be made into a self-fulfilling prophecy. :P

[zupcon]

Hi Mick

I think you may have mis understood me. I personally wouldnt sell a fully automated system, nor would I personally consider it an astute business decision, quite the opposite in fact.

What I was suggesting was that for me personally, PURCHASING this particular system was a reasonably sensible decision. The reasons for that being:

a) I know the developer of the system reasonably well and have confidence in his abilities both as a trader and systems designer
b) I already trade successfully using a method that the author revealed to a small group of traders. For the record that system isnt automated, its a manual system requiring discretion but thats fine by me as it suits my personal style.

I was going to respond to your earlier post as you make some good points, I may do later if Im not too busy

regards
mick

[graemenash]

From http://www.simpleforexsystems.com/hildafaq.htm :

7) Will you offer a guarantee?
Yes. I guarantee that the trade entry signals are easy to spot and that when played according to the system rules will make money. I can not guarantee that you as an individual trader will have the discipline to take the trades and take the money. Unfortunately I cannot click the button for you or operate your brain.
Here's my guarantee - if you can't see these entry signals and you can't see where they make a healthy regular profit then I will completely refund without any problem whatsoever.

[MickMason]

Originally Posted by zupcon

Hi Mick

I think you may have mis understood me. I personally wouldnt sell a fully automated system, nor would I personally consider it an astute business decision, quite the opposite in fact.

What I was suggesting was that for me personally, PURCHASING this particular system was a reasonably sensible decision. The reasons for that being:

a) I know the developer of the system reasonably well and have confidence in his abilities both as a trader and systems designer
b) I already trade successfully using a method that the author revealed to a small group of traders. For the record that system isnt automated, its a manual system requiring discretion but thats fine by me as it suits my personal style.

I was going to respond to your earlier post as you make some good points, I may do later if Im not too busy

regards
mick

Hi Mick, you're the exception to the rule, you have the benefit of knowing how this vendor trades and how successful he is, without a preview (or refund guarantee) how is anyone else supposed to know he isn't just another snake-oil salesman? Additionally, the vast majority of prospective purchasers of manual systems are new'ish traders who have lost money and are looking for the Holy Grail to be handed to them on a plate. As you probably know, most 'experienced' traders prefer to develop their own trading strategy according to personality, trading time frame, risk tolerance etc etc and fully understand the significance of risk management. The new'ish trader, on the other hand, is still likely to lose money regardless of how profitable the system might be because he lacks the very basic but very necessary trading skills. But this is nothing new, any experienced trader knows the way things are when starting out in this business....that makes me immediately suspicious of their motives if they are prepared to take money from these people knowing that they will probably lose, in turn that brings into question their honesty about the long-term profitability potential of their 'secret' system, especially as they offer no money-back guarantee or preview.


Mick

[MickMason]

Originally Posted by graemenash

From http://www.simpleforexsystems.com/hildafaq.htm :

7) Will you offer a guarantee?
Yes. I guarantee that the trade entry signals are easy to spot and that when played according to the system rules will make money. I can not guarantee that you as an individual trader will have the discipline to take the trades and take the money. Unfortunately I cannot click the button for you or operate your brain.
Here's my guarantee - if you can't see these entry signals and you can't see where they make a healthy regular profit then I will completely refund without any problem whatsoever.

You should probably highlight the following as well, it's important to realise that this system is aimed at traders wth at least one year's trading experience who have no emotional trading hang-ups! The potential purchasers list is reduced significantly, I'm not sure how many semi-experienced traders would go for a $4000 revamped Bunny Cross system....

Mick



.....

[thorr]

Originally Posted by Baruch

Yeah, and Soultrader has used this forum to make a name for himself, and now he uses his blog to promote his 2300 pound system. But beware: Soultrader is a very good salesman, no doubt about that, but is he a good trader and systembuilder?

I'm sure his trading log is honest and profits are real, I think he's a good trader. BUT, will you or I be able to trade this system exactly the same way he does and replicate his profits? I doubt it. Really good trader can trade without indicators, or with one SMA and make constant profits, newbie can't. System is just one part of the equation.

[neomage]

Hello everyone! Neomage here.

I read through this post today, and I felt moved to contribute my thoughts. First, a link:

http://www.quatloos.com/commodity-trading-systems.htm

(quatloos dot com / commodity-trading-systems.htm : in case moneytec blocks the link)

There is an interesting article about trading systems.

I can take what is presented there a little further and tell you this: The past never repeats itself in financial markets. Sure, you can pay $100-$3000 as a flat fee or a monthly fee for a system, but that system is most likely based on "past results". While such a system may work for a while, the simple fact remains that markets change in response to every changing stimulus.

Translation?

Trading systems have a finite shelf life that could be 2 months or 2 years, but eventually you will hit the wall and quite likely you will give back most of your gains.

Have you ever heard the axiom, "Those who can...do, those who can't...teach."

I have found this to be true in all things. The greatest gift you can give yourself is to learn for yourself and teach yourself what moves the market - that takes experience, that takes years...and usually, by the time you figure it out, everything has changed.

I'm confident in what I'm telling you because I have worked as a Consulting Computer Forensic Investigator on several cases involving the CFTC and Forex Fraud. I have seen first hand charlatans steal millions upon millions from investors who were lazy and greedy and didn't have the forethought to investigate what they were purchasing. And I will tell you this, most of the money is tied up in litigation and will be for years.

It is easier to lose money than it is to make it.


Peace...

Neo