I’m doing some market research in relation to online trading bot marketplaces…think the MQL5 marketplace for Metatrader or NinjaTrader’s Ecosystem portal. I’m intrigued to understand if you would you ever consider buying / renting a trading bot? If so… 1. What would you need to know about the bot from the vendor to convince you to make a purchase? 2. Would seeing live forward test data of the bots performance post development provide you with enough confidence to purchase? i.e. not backtested historical trade performance. 3. How much would you pay for a bot? Would very cheap, or very expensive bots make you suspicious? 4. Would you prefer to lease the bot or buy it outright? If you have ever bought one before, how was your experience? What did you pay for it? Did the experience live up to your expectations? Full disclosure from me, I have previously bought a monthly subscription for a portfolio of bots but I did not maintain the subscription as the bots were catered for mini futures contracts whereas I was using micros at the time and the trading frequency of the bots made trading micros unprofitable due to the proportionally higher commissions on micros over minis. I’d really welcome your thoughts.
Never understood this thinking " ...... proportionally higher commissions on micros over minis." AMP charges all in for eMini $1.80, a tick is $1.25 Something seriously wrong with a bot and or human to not be able to handle that.
Advertised systems are likely to be poor and/or curve fitted to past data or recent data and/or can't beat transaction costs. Assuming not curve and actually long term profitable. It is already very hard trading through a long drawdown with your own bot that you developed yourself with years of market research and you know inside out and what to expect. The chances of trading a purchased system successfully over the long run are almost zero.
I seem to remember coming across a guy here at ET when I was explorer past archives who was a collector of bots? Ken something or other.
Well like the old saying goes ... you are only happy the day you buy and the day you sell a bot. The in between is just pure hell. Lol