As best as I can tell from the fairly poorly designed website is that you will be buying a product which will allow you to automate your own strategies. It's a pity Mikael/Anton/Thomas – whichever of them is Magick93 – didn’t spell out a bit more about the proposed product in the first post.
Regardless of their credentials – not much of which is associated with trading per se - anyone stupid enough to upload their strategies or provide them to a 3rd party where (presumably) performance of those strategies can be monitored and assessed (and re-utilised) deserves to pay for the privilege such stupidity provides.
You are a vendor as PB points out. You're not registered as one, which doesn't bode well if you are going for transparency.
The first paragraph of your post has left me confused. So you are looking to help a hedge fund, but you care about the trader rather than the system? That's weird, because for automation, it's the system that counts, obviously. Something is not sounding right.
But even if we do accept the policy, what is Amakitu Aps? Also who are you affilliated with? Your prvacy policy, for all it's worth (nothing) allows you to share info with any affiliated party - which could be anyone. I have a bad feeling that you are not working on the linkedin issue (because there's very little to work on), and that you are in fact collecting details, and hoping to steal strategies.
We are working on simplifying the form right now.
As mentioned, you dont have to use linkedIn, you can contact me via this forum, or though our website contact form.
Amakitu Aps is the legal entity that owners Magick.
I did not say we looking to help a hedge fund - I said we had been approached by a hedge fund.
When I signed up on this forum I was not a vendor. I am not currently vending anything - but am seeking advice on a forthcoming product.
If you are paranoid that your strategy is going to be stolen, then lets talk - perhaps we can find a solution. As an experienced trader, I'm sure you are aware that every broker and trading platform could deduce your strategy - if that was their focus. VPS services may secretly be monitoring your performance so they can steal you brilliant ideas. Metatrader could be an elaborate strategy harvester cloaked as a automated trading platform. Having meet several people who work at Metaquotes, I feel very confident that they are NOT in the business of stealing trading strategies. Those who abuse trust do not last long in this industry.
I realize you have a frightfully mistrusting nature, so I am not going to try to convince you otherwise - however we are trying very hard to make tools to help your improve your trading. You could, for instance, talk with our developers and inquire about any nefarious plans for stealing your brilliant ideas. You are welcome to discuss with us about our technology, our goals, our motivations. We are very open to hearing your concerns.
And to return your first point, most traders, even those who automate their strategies, continue to refine them. The real value in a strategy comes from ones analysis. Markets change. And so does ones strategy. The point I was trying to make was hedge funds tend to seek not an EA, but a skilled trader. A skilled trader can still have their ideas automated, but it is the ideas that are of value to the hedge fund.
You have claimed that when you signed up here you were not a vendor. Yet here you are selling something called Magick, with a username called Magick.
There are only so many lies I can take in one post Magick, and yours is way over the limit.
In short, no thanks.
I co-founded, and named the company. The company was founded in January of this year. Magick is a moniker that I have used for sometime.
And, FYI - http://forexmagnates.com/ex-saxo-mikael-breinholst-and-anton-hughes-launching-magick/
Still have no idea what you're offering in terms of 'advanced risk management' or even what is different from metatrader in terms of strategy development, but anyway, good luck.
The real clincher for me is that anyone with a profitable strategy is not going to need to automate it.
You guys (Magick) are technologists - not traders. Which is why you think you're onto a winner. You'll focus on those that don't have profitable strategies - but think they do. And remove their capital even quicker.
I guess I should applaud your realisation that you won't get rich from trading - but you might form those that think they will.
The majority of retail traders lose money because their losing trades lose them more than their winning trades win them.
Automating their faulty logic will simply help them lose it more quickly. Especially when you add in the fees they will need to pay you for your services.
The reasons brokers make money from their clients has little to nothing to do with trading.
If you really want to give retail traders the same benefits and advantages of a brokerage - set up a co-operative brokerage where traders can invest in providing liquidity to other retail traders and be rewarded pro rata for their investment.
Actually, it does. When the data supporting that point was posted recently it came as something of a surprise to many."The majority of retail traders lose money because their losing trades lose them more than their winning trades win them." Obviously. That doesnt event need to be stated.
None of which are provided by your product. Each trader has to bring those to the party themselves.But, the essence is bad money management. A good trader has a strategy, which included money management. A great trader actually uses their strategy.
You want me to clarify why that statement makes no sense or you want me to clarify it so that it makes sense for you? I’ll take a guess the latter as nobody else seems to have had a problem understanding it. Brokers don’t make money trading, but by facilitating trading for their clients.Your statement "The reasons brokers make money from their clients has little to nothing to do with trading." make absolutely no sense. Care to clarify?
Rather than having me jump through hoops and make assumptions about who you might or might not be, perhaps you'd care to identify yourself? Certainly none of the public trio of Magick partners has direct or particularly relevant institutional expertise. If you genuinely don’t know how brokers make money then try google. Alternatively, tone down the arrogant and patronising manner and ask again nicely.Please assume I have never worked for a broker, and enlighten me as to how brokers make money.
Actually, it does. When the data supporting that point was posted recently it came as something of a surprise to many.
None of which are provided by your product. Each trader has to bring those to the party themselves.
You want me to clarify why that statement makes no sense or you want me to clarify it so that it makes sense for you? I’ll take a guess the latter as nobody else seems to have had a problem understanding it. Brokers don’t make money trading, but by facilitating trading for their clients.
Rather than having me jump through hoops and make assumptions about who you might or might not be, perhaps you'd care to identify yourself? Certainly none of the public trio of Magick partners has direct or particularly relevant institutional expertise. If you genuinely don’t know how brokers make money then try google. Alternatively, tone down the arrogant and patronising manner and ask again nicely.
Or rather, don’t bother. The way you have handled yourself in this thread and the tone and content of your responses has been unhelpful and bordering on aggressive. We’re still really none the wiser on what you’re offering - even after looking at your website. All I am doing by engaging with you is keeping your company in the upper echelon of search results. This is my last post on this thread and this topic.
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