Does anyone here trade with a system they bought from another trader or trading company or have done so in the past? I know MOST of them are scams, but are there any legit ones on the market that work? just wondering. I will always trade manually, but want to hear from others/ cm69
Until it's obvious to you that anyone selling a system is selling a worthless system, you've got no shot at being a decent trader. Do the conditional probabilities/handicapping of a situation where person A has a valid system and person B has a junk system. What would either of them sell their respective systems for? How much of person A's system would he have to give away for free to prove that it actually worked? A's system is worth far more to A than A could sell it for => A would never sell it. The only people selling systems are people like person B.
well you are right for most part but there is such a thing as good and free, but its hard to find, sometimes its hard to implement etc
I have been using the Watts System I bought from www.invictatrader.com and am getting consistent trading it on currencies. It costs next to nothing and comes with the developer himself helping you learn the system for FREE in his FREE trading room. He is a professional trader himself trading for 20+ years and trades the system himself for a living. I found that the best advice you can get in the trading business is free or almost free. Do not spend anything more than that as trading is mostly psychological and you and only you control your emotions. No system out there will make you money if you are not psychlogically prepared for it.
There are some systems that are capital intensive. The developers of those systems may need to sell the system to generate capital to trade it because there aren't a lot of options for seed capital if you don't have a pedigree or millions currently under management. A system that generates 30, 40, even 100% annually isn't going to pay the bills if the trading account is only $25k. So maybe there is a C category... Sincerely, Daryl
Check-in with baggerlord. He was going around talking about how he had purchased austinp's trading system ... then I just "saw" him over at the PnL Journal looking for handouts. :eek: I don't know ...
<i>"I don't know ... "</i> I don't know either, jj. Have never sold a system in my life... on record here for years saying that mechanical systems aren't scalable to the public. While you were over in P&L 2008 thread pulling that tidbit, did you happen to tally up my two-week ER2 points tally? Please count it for us and let me know what you come up with. If you want to go one step further, point us toward your own blotter posts in that P&L thread. Thanks for the effort