Profitable Trading Systems, Newsletter and advisories ???

[victor123]

Hi there,

I am new to trading and have a daytime job. I have come across numerous web sites promising highly profitable trading systems, advisories and newsletters. I have a few question to my experienced colleagues in T2W.

(1) Are there any trading systems, advisories or newsletter that have generated consistent profits over a long term (e.g. last 2 -3 years). Or is all of it a con ?

(2) I know many would say that if there was a trading system that was profitable why would someone sell it ? Well, I have found many famous traders selling their advise and they charge 100s of $ per month. Are they really ripping people off ?

As far as I am concerned I will be happy to pay for something that really works.

I would really appreciate if anyone who has real life experience of using trading systems or advisories replies to my thread. I would also welcome opinions from anyone who know of someone reliable using such systems.

PS: Do not post any link in this thread as they may be misconstrued as Advertising. You can send me private message by all means. Please do'nt market your product. If you know of something that genuinely works, tell me and I will be grateful for the knowledge you pass.

Kind Regards,
Chatt

 

[tradermaji]

Out of the 1000's of systems, websites and other paraphenelia avaiable, only a few are really profitable. Information on some commercially profitable systems are available on the website of system brokers like Striker, AttainCapital etc. Check them out and talk to the brokers there.

As for a $49.95 ecourse and system being profitable, I doubt it. However, cheap does not mean worthless, so you have to look hard and maybe look at many corners before you find something useful in that heap of cheap ebooks.

If you like mechanical systems, buy wealthlab, amibroker or something like that and start experimenting. With enough hard work and experimentation, you should be able to find out something that matches your requirements. Be prepared to put in many months, if not years, of hard labor unless you get a lucky break

Good luck,
Maji

 

[StockCoach]

Always ask for complete lists of their trades. You should never sign up for a service that doesn't show you (and I mean show you exactly) past historical results. Most systems out there do not do that. Those that do typically show only the past year, because beyond that it didn't work. It is easy to find a system that works for a year, but to find a system that works over the course of time is a gem.

 

[victor123]

Dear Stockcoach,

Thanks a lot for your suggestion.

Cheers,
mrigankachatterj

 

[Tuffty]

"I will be happy to pay for something that really works"

The challenge of trading is finding something that works for you. Even if it does really work it may not be suited to you when it comes to trading it. I don't know of any quick way to find out what does suit you except to try things and see how they fit, a bit like going into a clothes store without knowing what size you are or with no one to measure you up.

 

[StockCoach]

"I will be happy to pay for something that really works"

The challenge of trading is finding something that works for you. Even if it does really work it may not be suited to you when it comes to trading it. I don't know of any quick way to find out what does suit you except to try things and see how they fit, a bit like going into a clothes store without knowing what size you are or with no one to measure you up.

Well said Tuffty. Unfortunately, there is never a mentor to guide you in the markets. If you find one you are VERY lucky. Trial and error is key here, and to survive you must keep things small until you are at a place where you know you have the tools to make money. Longevity should be your focus.

 

[the blades]

...to add to the above;

You will easily obtain data for systems performance from backtesting. That's a start - but ask for the performance since the system was marketed - as traders pile in to the latest thing, systems can stop working.

Even the most robust systems can have fairly big drawdowns. Consider running more than one (uncorrelated)system to negate this effect. Also, look at the systems performance in differemt markets. many commodity trading systems give good equity curves, but this is the combined result of trading many markets. Unless you are very well capitalised, you'll struggle to get the same diversification as that that produced the equity curve.

UTB.