So hello all, im a rather new trader and while still learning alot i came into a possesion of a friends trading system which he used to use. The system not costs 500$ and he says its making him money, so hes giving it to me for a few weeks to try it out and not be skeptical about his "making money with trading software which is impossible". So i did some ressearch and the software seems legit on my demo account it does indeed make money. So now im asking before you all start screaming "abbandon all hope ye who trade with software" does anyone have any info since i never traded with any trading software and im a rather new trader, if the account continues to generate profit for me should i invest say 500$ in it?
justtrader
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This sounds excellent!
Why do you want to only invest $500?
You have the proof your friend is trading it and making money
I would say the minimum you should invest is 10,000, even borrow if you have to, use your mothers pension as well if you can
Why do you want to only invest $500?
You have the proof your friend is trading it and making money
I would say the minimum you should invest is 10,000, even borrow if you have to, use your mothers pension as well if you can
the hare
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Step one should be to determine the largest drawdown that you can expect to incur over the next 12 months. Step two, multiply that by a reasonable factor, lets say by a factor of 3. Step 3 is to beg, borrow or steal every penny you can lay your hands on, and trade it for as long as losses don't exceed your drawdown limits.
I have to say I'm amazed that anyone would sell a system for 500 bucks. It complete insanity to do so. Im even more amazed that anyone would consider investing such a minuscule amount on a system that they believe actually works.
If you don't actually know how and why the edge works, then blow the 500 bucks in the nearest casino, I suggest placing the whole lot on a single spin of roulette, then walk away regardless of the outcome.
You can certainly make money from automated trading, but its a great deal more complex than learning to trade a discretionary method, and the key thing to note is that in reality for most automated retail traders the profits are far from consistent, and it'll take more than a few weeks forward testing to determine if the method has merit.
I have to say I'm amazed that anyone would sell a system for 500 bucks. It complete insanity to do so. Im even more amazed that anyone would consider investing such a minuscule amount on a system that they believe actually works.
If you don't actually know how and why the edge works, then blow the 500 bucks in the nearest casino, I suggest placing the whole lot on a single spin of roulette, then walk away regardless of the outcome.
You can certainly make money from automated trading, but its a great deal more complex than learning to trade a discretionary method, and the key thing to note is that in reality for most automated retail traders the profits are far from consistent, and it'll take more than a few weeks forward testing to determine if the method has merit.
Lord Flasheart
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Your a new trader and poster who happens to want to plug this software.Im sure its all coincidence
no, no link, i was just asking, i know how it all looks, and it's perfectly fine if you think so, the thing is i got it for a few weeks maybe 2 months max and so far (1 week) it's been doing a steady profit on larger time frames (4h).
By all sane logic regardless of the trolling intentions from some people i do realize something like this needs to be tested first and seen for myself if it does actualy produce profits in the long run. The 500$ is cause thats what i can afford to lose right now (if it goes south). But for now it looks all well and fine and in profit.. So thats why i was asking around, i never used one and i don't want it to just start losing money for me, as all the reviews i read online aren't really "positive" in feedback...
By all sane logic regardless of the trolling intentions from some people i do realize something like this needs to be tested first and seen for myself if it does actualy produce profits in the long run. The 500$ is cause thats what i can afford to lose right now (if it goes south). But for now it looks all well and fine and in profit.. So thats why i was asking around, i never used one and i don't want it to just start losing money for me, as all the reviews i read online aren't really "positive" in feedback...
the hare
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Seriously, the first stage should be to think about what drawdown you might incur, number of consecutive losses etc, and then select a position size that allows you to at least implement the system.
Mechanical systems can be difficult to evaluate, and its not uncommon to see a wide range of results amongst people running the same system ! Even small differences in data feeds can lead to significant differences in profit or loss
You really do have to understand what edge the system is exploiting. It's ridiculously simple to design systems based on optimized parameters, (and as many an unscrupulous vendor can tell you, its easy to write EA's that skip known periods of time where they perform badly !)
Starting with 500 is fine so long as you have a broker who allows you to trade fractional lots.
However if you understand the edge, you have realistic back tests, and forward tests from your mate, you need to be capitalizing why you can.
I don't think 2 months is anywhere near enough. Certainly not enough if its one of these systems that uses large stops and small targets.
Unfortunately online reviews are worthless really, as is asking for advice on forums. Good luck with it anyway
Mechanical systems can be difficult to evaluate, and its not uncommon to see a wide range of results amongst people running the same system ! Even small differences in data feeds can lead to significant differences in profit or loss
You really do have to understand what edge the system is exploiting. It's ridiculously simple to design systems based on optimized parameters, (and as many an unscrupulous vendor can tell you, its easy to write EA's that skip known periods of time where they perform badly !)
Starting with 500 is fine so long as you have a broker who allows you to trade fractional lots.
However if you understand the edge, you have realistic back tests, and forward tests from your mate, you need to be capitalizing why you can.
I don't think 2 months is anywhere near enough. Certainly not enough if its one of these systems that uses large stops and small targets.
Unfortunately online reviews are worthless really, as is asking for advice on forums. Good luck with it anyway
BeginnerJoe
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I am willing to pay 1000 for this software. Give me your paypal account, I will send money right away.
the hare
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1000 what ?
neil
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BeginnerJoe
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Carrots followed by gallons of tea followed by a dormouse dance
You loosed a full stop. Bang goes your teaching aspiration.
fibbinstarchi
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Flip a coin, heads or tails.
WallStreetHero
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I've spoken with my bank today and will remortgage my house, I'm ready to invest with you in this.
no im still here, i lost my old account on which i was lurking this forum for last 2 years ( comming and going) no worries, im still trading though, i would provide screenshoots but i think admins would shoot me down
So i guess you have to trust me on this one : )
So i guess you have to trust me on this one : )
BeginnerJoe
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Ok, I trust you.
not quite what i mean't by this sarcastic response but hey, no wonder any trader worth a damn is -edit- "not" on forums, and those that rarely are don't post much cause they get flamed by "wanabe traders" whose trading is profitable for one month then negative the other. But im not here to flame, or start fights, you guys are too pro for me. instead il try attaching a screenshoot with name ommited
Attachments
thunderstruck
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If it were a cash cow I would advise you to buy it . At least you would have fresh milk every morning . What can you do with a useless software??
