Does anybody use this site?

Does anybody use the website http://www.eminidaytrading.com/main.html for emini daytrading? If so, I would appreciate any comments pro or con from your ecperience with it. Thanks

Ed

 

Hmmmmm! 114 views and no response! Looks like if I sign up with them I'll be their first customer.

Ed

 

"Our signals make you money, or your next month is free."

"Our airbags work, or your casket is free"

"Our condoms work, or your stroller is free"

"Our security system works, or you can charge us for the call to 911."



Not much of a guarantee if you ask me.

Don't know if you can find anything about them at:

http://www.futurestruth.com/

 

Couldn't find anything on them at that site, but thanks for the fantastic URL!

Ed

 

i'd run, not walk, from the ignominiously named futurestruth:

1.Rating groups should not rate their own products. That's exactly what Futures Truth does by endorsing systems by Lundy Hill.

2. Curve fitting is violated regularly.

http://www.turtletrader.com/truth.html

plus, from one of the very old snake oil busters, bruce babcock:

1. You must know the maximum historical equity drawdown before funding an account to trade any system - The most important of all system figures was omitted by Futures Truth!

2. With a black box system any line of code could be entered, like "do not trade S&P’s on October 19, the day of a system’s largest possible loss." The system purchaser, just like Futures Truth, would never know the difference!

3. We strongly recommend all CTCN readers ignore the Futures Truth rankings. Also, as Kent so well points out, most of the Futures Truth top-10 systems have huge drawdowns and flat time periods between new equity highs.

4. In addition, we have been told by the owner of Futures Truth their rankings really are subjective.
5. Important Editor's Note: Your editor will also include on our Internet Site (www.webtrading.com) (former site of Bruce Babcock CTCN) his own shocking and amazing past first-hand experiences with Futures Truth. No punches will be pulled or facts hidden. We will tell you everything about our past dealings with Futures Truth.

This will include all the details on how they published heavily curve-fitted and optimized output from one of our trading systems. This was done every month for a very long time by their asking us to send them a new trading system disk each month with freshly optimized parameters and our own price data (which also could have been easily curve-fitted - but the data wasn't).

How they then listed it in their Master Performance Tables and ranked it highly, all based on those heavily curve-fitted parameters that were curve-fitted on a regular basis.

Of course, the un-optimized and non-curve fitted actual trading results would have been vastly different and likely inferior to performance results they told the public about. CTCN members should all be aware by now that performance of an optimized or curve-fitted system will in all likelihood fall apart or deteriorate when you start trading it.

http://www.webtrading.com/issue39.htm

and one of jack schwagers market wizards, the former partner of richard dennis:

William Eckhardt, in "The New Market Wizards", by Jack Schwager, pp. 120 following:

Do you have any familiarity with the systems that are sold to the public?

Eckhardt: I used to try and keep abreast of them, but, given the preponderance of garbage out there, I found it an exasperating experience. You have to sift through so much that's both complicated and worthless that I think time is better spent brainstorming.

Why do you categorize these systems as worthless?

Eckhardt: Because they tend to overfit the past data.

Do you think the overfitting is a consequence of naiveté? Or an unbridled desire to sell more systems?

Eckhardt: At this late date, it's probably predominantly disingenuous.

Have you looked at a lot of outside systems?

Eckhardt: I've looked at about 50.

Out of those 50, how many had value?

Eckhardt: One. And I don't think it had value as a system, but it had an element I ws able to use later.

Do you then feel that purchasing systems is a waste of time?

Eckhardt: For the most part, I feel that's true. I would hate to think how much money a person would have to spend to chance on something good. If you have the resources to evaluate systems, your time is better spent developing your own ideas. I wouldn't recommend buying systems.

Is the idea that if a system really worked - by that I mean a combination of good profitability, low volatility, and durability - it wouldn't make monetary sense for someone to sell it?

Eckhardt: Occasionally, it might happen that somebody comes up with something really good and sells it because he needs the money. but in my experience something good isn't discovered on a Greyhound bus while leafing through charts; it's something developed over a period of years. Typically, if a person has invested sufficient time and money into developing a system, he or she will want to use the system, not sell it.

and, finally:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=7482

another guy who'd been handled as some kind of a wizard for ages in the futures industry and who'd claimed he was honestly tracking performance of his and other peoples systems until he got busted for fraud by the CFTC who finally woke up and decided to cross check his claims of being a very successful trader against his brokerage accounts.

cheers

 

Is there any truth on the internet?

Ed

 

I'm not a subscriber (and do not plan to become, FWIW), but here you may find something to read about them.