How much would you pay MAX on a monthly basis for an innovative profitable indicator?

First question, who is MAX?

 

Most traders on ET paid more for their own developped indicators that did not help them to become profitable. So what's the difference?

 

Trust me, it isn't " interesting " in a good way.

 

This is all you need. It's a simple formula. Define momentum with price based average, and probability with volatility study. Reverse (considering positive expectancy) if wrong, and if wrong again move on to next candidate.

 

10 bucks says this amazing life changing indicator doesn't exist.

 

I wrote my last post as a mean to citate my preferred author, napoleon hill.

Anyway I've not yet sold a single thing to anybody in my life, and the reason why I'm confident in my indicators is because i used them for many years and i know their potential value, then really I've no idea if other traders will find them useful too, i hope yes.

Merry Christmas to everybody and thank you for participating in this thread

 

Mtrader,

Good logical comment.

The difference is the trader paid for something he/she personally developed, and have the logic/code for the system. Even if the system they developed did not produce money, it did produce experience and know-how. It's the learning curve that Handle123 is recommending. And agree.

I personally bought a $2000 system 4 months ago, started using it and it was decent. After reading more about programming, backtesting and how to build a system for myself, i ask the developer for the code behind the system and he said NO.

I was very shocked the developer said NO, considering I did bought the system. But he said the code was proprietary and his not to share. I got to respect that.

Now I have to code my own. Then test how I want to.

 

Buying the useless indicator does produce experience and know how too. It is also a learning curve.

 

When buying a system, you are buying a set of rules, plain and simple. What you are not entitled to is the years that person learned how to code so you can steal that code to build something else. Ever buy a ticket to fly somewhere? Do you expect the pilot to teach you to fly? Pilot has thousands of hours to become a pilot and in no certain terms is he going to put you in his seat cause you want to learn to fly jets, he will tell you to go to small airport and take lessons. Trading no different.

I have spent over 6 figures in my time for everything under the sun dealing with trading because I was making profits and taking cost of it off my taxes. I wanted to take it apart and see if I could make it better, what many would say was complicated, it wasn't, last year I donated it all to local University, I kept three books and one can use "search" for names of those titles, they deal with price action and all written before home PCs. If you work hard in your first couple years of trading is all you need to trade, expand on when not to take trades, meaning left of current price action, learn by your winning trades as far as risk and reward. One moving average all you need as quick way to define trend and entry. And the max cost per month for this is zero. Better to learn as many ways to reduce risk than ways of increasing profit in the beginning, you get your risk as low as possible, one's account will grow.

The more people charge for stuff does not make it more worthy, it is just cause they can get it from those who can't make a living from trading.

 

Thanks profitlocker,

Can I please have an example of this setup you mention please? An example trade with chart would be great.

I would appreciate it.

Thanks