Well, you seem to be calling out it's shortcomings all by yourself. Unless it is some fully automated system that you intend to let run unattended and don't care if you lose every penny, I can't see why you'd even consider it. You obviously have little faith in it's capabilities, so you'll be doubting it as you trade, and that's just a recipe for disaster.
Thank you Goo...... Still evaluating. Any other thoughts? The pics are much better than my words in describing it. Must admit that I can not see any way to lose money with it so far, but then like you say only the future will tell.
Good news. The strategy gave 10 signals on fed day and none of them went for a loss that day. It made $2990 on one contract for the day and Trade station calculated that as an Annual Rate of Return to be 2213.67% for the day after commission and 2 tick slippage were subtracted. So far I have received 2 and only 2 no votes for this strategy. I assume that they are using strategies that made more than $2990 yesterday off of 1 contract and returns greater than 2213.67% AROR with no loosing signals for the day. Since I do not have access to their superior strategies, I think I will work on keeping this one. Say if it stayed consistent and I traded it 20 days a month, it would net maybe $50,000 based on latest results. Now the guy wants to rent it to me at 1/2 of the net. So do you think about $25,000 / mo. sounds like a fair rental price? I am new to this and do not want to be taken advantage, so I would like some opinion. Now of course the rental would be based only on the actual net, but this above is the current evaluation net based on Trade station calculations. Thank you in advance.
So far off to another good start see pics. Strategy said sell so I sold. Now the strategy missed top by another 6 ticks or so, but since I play off it, I am able to get a better fill. I would really like to hear Elite Trader opinions on renting this. Thank you in advance.
Please be patient. Still trying to use this. I am able to get a better fill. I would really like to hear Elite Trader opinions on renting this. Thank you in advance.
Update. The strategy said to take profit on the above mentioned sell at 725 in TF. Again missing that bottom bounce by 3 ticks. Any opinions on renting this? Thank you in advance.
Pic of last buy of above off strategy today. Do you think I should rent it as above? Thank you in advance.
do you have any idea what the basic concept is? I think that is key to deciding if it's something you want to trade live. If it's a commercial system you could always share a link (unless you're the vendor, of course).
Thank you vikana. I thought that soliciting by sharing a link was prohibited. In any case, it is based on 20+ years of his observation of market action. I have been able to get it Diamond Locked only, so I do not have access to the actual code. He clams it follows the market action to the tick and self adjusts on every swing of the market. He instructed me how to configure it to show the closing tick of the market and it did. Not a range but the exact closing tick as the bell sounded. I was just blown away. In the few days that I have been able to evaluate it, It has not lost anything and Trade station keeps giving profit reports in the 1000% range of AROR off my real time charts on my computer. I am just wondering if you or anyone has an opinion on renting it on his terms. Thank you in advance.
Vikana, as far as I can tell so far, the basic concept is making money off of swings in the market and then self adjusting to the next swing all in real time. See last sell signal picture. Does anyone have an opinion on renting this on his terms? Thank you in advance.