A little help please!!

[fxmade2trade]

can anyone give me feedback about Collective2 ????

 

[ph_trader]

a little bit more details pls!! is that like a subject in college or something??

 

[timsk]

a little bit more details pls!! is that like a subject in college or something??

Hi ph_trader,
It's a site that enables traders to post their systems so that others can follow. Those that then trade the system with their own money pay a fixed subscription to the system developer and a commission per trade to Collective2. In theory, it's a clever idea as it allows good traders to trade and those that aren't to back those who are. A win win situation. In practice, I don't know of anyone who's made money consistently over the medium to long term - either as a trader or as a follower. However, maybe that's just me and everyone else is raking in some serious coin!

I don't know about collective2 as such, but some of these sites are built in a way that makes average traders look good. For example, it's quite easy to rack up a very high success ratio by taking small profits - especially in range bound markets. 85% to 90% of the time, market volatility will ensure a modest profit target is hit. Needless to say, the trader may have a few trades that have gone seriously offside. They may return to profit, they may not. In the meantime, the site only shows the trades that have been closed at a profit as the losses are only paper ones and not realised ones. This makes the trader look much better than s/he really is and those that then follow with real money get a nasty shock when the offside trades are left to go further and further into the red. In fairness to collective2, I have no idea whether this applies to them - it probably doesn't. They may well have a transparent business model that highlights such practices - rather than hiding them from view.
Tim.

 

[fxmade2trade]

lol

ph_trader no its a site that you can gain members to follow your systems

 

[fxmade2trade]

Hi ph_trader,
It's a site that enables traders to post their systems so that others can follow. Those that then trade the system with their own money pay a fixed subscription to the system developer and a commission per trade to Collective2. In theory, it's a clever idea as it allows good traders to trade and those that aren't to back those who are. A win win situation. In practice, I don't know of anyone who's made money consistently over the medium to long term - either as a trader or as a follower. However, maybe that's just me and everyone else is raking in some serious coin!

I don't know about collective2 as such, but some of these sites are built in a way that makes average traders look good. For example, it's quite easy to rack up a very high success ratio by taking small profits - especially in range bound markets. 85% to 90% of the time, market volatility will ensure a modest profit target is hit. Needless to say, the trader may have a few trades that have gone seriously offside. They may return to profit, they may not. In the meantime, the site only shows the trades that have been closed at a profit as the losses are only paper ones and not realised ones. This makes the trader look much better than s/he really is and those that then follow with real money get a nasty shock when the offside trades are left to go further and further into the red. In fairness to collective2, I have no idea whether this applies to them - it probably doesn't. They may well have a transparent business model that highlights such practices - rather than hiding them from view.
Tim.

you very right but it does matter the system you are trading