People developing serious automated trading systems probably won't see "MT4" as similar to TS and Ninja Trader. Zorro plays again in a different league. Admittedly, they all are software and have to do with trading.
Anyway, as I wrote the FAQ that you mentioned, I'm always interested to learn what could be improved - which statements do you think are contradictory?
"Employed professional traders can achieve an average annual profit of about 3% above market* - not with 'trading skills', but by following strict rules and discipline. Because trading is not based on real knowledge, it can not be taught or learned beyond elementary rules. It's unlikely for someone to become a 'better trader' over time, no matter how much money he invests in trading books and seminars."
"Still, trading machines are no better than the strategies they're programmed to follow. So far only large institutions, such as hedge funds or investment banks, have been highly successful with machine trading. Their high-speed systems exploit shortlived inefficiencies and minimal price differences between markets."
The 2 above statements are consistent - altho I disagree.
However, the above statements are contradicted, IMO, with claims such as
"Some of Zorro's included strategies can double your capital in about 4 months, and have confirmed that performance in one year real trading so far.".
BTW, I think we would all like to see that confirmation. Even then, many system can double your capital in a short time, with luck and excessive risk taking, just like gambling.
There are othere statements that are made that make me more skeptical:
"Trading requires capital. You'll need at least $200, better $2000 to start."
It would be crazy to start trading with $200. Even $2000, altho it may be possible with lots of luck.
"Trading strategies tend to expire due to permanent market changes."
Only if the strategy is not robust. The market is either in a trend or in consolidation. 2 states you will be able to count on permanently.
"Zorro's artificial intelligence is based on a simple neural network - a perceptron - and a decision tree learning algorithm. Additionally, Zorro offers several advanced analyzing tools for deciding when to buy and when to sell: Fréchet pattern detection, price cycle detection, frequency filters, correlation, polyonomial regression, and statistical arbitrage. Zorro learns while trading: it can regularly improve its strategies by re-optimizing parameters and capital assignment due to the current market situation."
I know a brilliant "rocket science, top of the profession" engineer would-be trader who has gone bust applying the above-like systems. To me, it's just buzz words. Also, isn't implying that these tools work, contradictory to your first 2 stmts above? And if they don't work, how is your software any better than Ninja scripts or TS?
I do believe that you can create a formula/system that can make money, just not with the above tools you mentioned - except statistical arbitrage - and then my skepticism level goes up again - how in the world would a normal private retailer do statistical arbitrage with your software - highly doubtful.
It appears that FXCM is currently the only "real" means to get historical data. That limits this platform severely.
Anyways, at least it appears that you are not charging for your software, but neither is Ninja. I want to be clear - I'm not putting down your software. You are promoting your free platform so you can sell custom programming. That's a reasonable service for traders who can't or won't for themselves (not withstanding whether your rate is reasonable or not). Altho that leads to my belief that if one is to dedicate oneself to trading, one better learn to do some basic scripts - only if to gain real insight to actual indicators/formulas/systems - and also to save valuable trading capital.
Have a great day.
