I would like to know if anybody can tell me the ramifications of selling a simple set-up I developed that is 100% profitable on the ER, ES, YM and ZG. I have several people who want to buy it and am afraid of legal troubles because I've seen several posts on here about having to be licensed etc. when giving trading advice etc. I know I could contact an attorney who is proficient in such manners but would like the opinions of any members in here first so that I know some stuff up front before my lawyer goes into his stuttering routine and charging me for things I could have researched first.
Just trade it yourself and you won't have legal problems. See your previous thread at http://www.elitetrader.com/vb/showt...page=6&highlight=retaildaytrader&pagenumber=1 in which you asked: My reply then was:
That thread is funny, considering my own. There's a saying around the internet: "If you have haters, it's because you're doing something right."
If it was 100% profitable, why sell it? After being in this business so long, it just not worth the hassle unless you are selling it for six figures along with three years of brokerage statements. But to fiddle for 5-10k is no money when you can trade it yourself. You can sell a "Holy Grail" method to someone and they will screw it and have nothing but losses. It is amazing so many traders buy people's methods or take training and never require brokerage statements. Dealing with people is such a major hassle, trading alone can be stressful, but having some clown who redesigns your method and then complains about losses, way too much bs for a few grand.
"When or if you achieve some level of success in life, some people are going to hate you for it. You can bet your mortgage money on that one. Obviously, success draws its share of admiration, but it's guaranteed to rouse some hate as well. So why do some people hate you when are successful? I think there four basic reasons. The first and most obvious reason is that they are jealous. Some people can't stand anyone else's prosperity. They are naturally resentful of it. They always wish it was them instead of you. Funny thing, though, they never wish for any of your hardships, losses, disappointments, pain, illnesses, or anything of the like. And they conveniently ignore all the hard work that paved the way for your success. They just focus on the fact that you acquired something good that they didn't - and they don't like it. The second reason is that your success often makes them look bad. It might increase the standards for which they will be judged in the future. They are satisfied with the status quo and you are ruining things for them. You are rocking the boat. You are upsetting the applecart. Because of you, they might be forced out their comfort zone. They may actually be challenged to improve themselves. Their life of ease my soon be shaken up. That's not what they want. The third reason is that they might not think you are deserving of success, for whatever reason. They may feel that success came too easy for you and that, because of your natural ability, you didn't have to work as hard as they would have to, in order to gain comparable achievements. They may think you are not credentialed enough for the success you have achieved. For example, some people will automatically dismiss your accomplishments because you don't have what they feel is the right amount of education or experience. They may think you are not good enough, pedigreed enough, or from the right kind of family or background. They have a mental image of what a successful person should be or look like - and you're not it. The fourth and final reason is familiarity. They say it breeds contempt, and this is especially true for someone who has achieved a certain level of success. The Bible says (and I'm paraphrasing now) that successful people can find respect anywhere except within their own family or hometown. There they often find nothing but resentment. For example, people might say something like, "Isn't this the same old Jim I grew up with, went to school with, and partied with - who does he think he is now?" For some reason, they have an image of you (pre-success) burned into their psyche and they just can't remove it. They apparently see your success as a form of betrayal - a betrayal of the person you used to be. Go figure!"
I don't disagree with what you've said. But what haters are you referring to? Have they posted in this thread? Please name them.
They're in this thread: http://www.elitetrader.com/vb/showthread.php?threadid=212197 And some of the childish comments can be explain by this: "Some will hate those who succeed because they believe making you look smaller will make them seem larger. By making light of the person and the success, people will try to steal some of your glory. Telling others why your success will be short-lived and is not very praiseworthy is their attempt to erode your success or keep you from rising higher. The fact is that by doing so, it will usually benefit the successful one and harm the complainer. Often a measure of this is seen in the rebuttal of presidential speeches and in the rants of television personalities trying to ride the coat tails of important people."
If the 100% hit rate is based on more than 1000 real trades then the price can go into millions usually in the form of a cut of the profits. If it is based only on backtesting the value is: 0