Ok, Just found out that my favorite automated trading software has just linked up with Ameritrade for a deal. Too Cool:
https://www.cool-trade.com/Default.asp?tda=y&MyUrl=izone
https://www.cool-trade.com/Default.asp?tda=y&MyUrl=izone
CoolTrade...
- Thread starter canyonman00
- Start date
What about Cool Trade confidentiality? Looks very easy to use, but apparently it "phones home" all your trades and strategies to the mothership?
I'd really like to use it but it seems like a leaky ship? No mention of confidentiality of trades and strategies on the website, in the user agreements, etc.
Would appreciate any insight.
I'd really like to use it but it seems like a leaky ship? No mention of confidentiality of trades and strategies on the website, in the user agreements, etc.
Would appreciate any insight.
Yes, it phones home and the mothership will know your strategies. What I find is that most folks believe that they have a better logic or strategy anyway so even when they copy some of your moves, the urge to further improve things makes it only be a duplicate for a short time.
You can select to not share your strategies with the general community which is the case for many of us. And I have no need to try and outdo the last guy who outdid the other guy (or gal) in front of him. The universe of stocks that you choose to work with will affect your results in many cases also.
The product has served me very well over the time that I have been involved with it. Couple that with the fact that I have no need to run out onto the field announcing my last triumph, nor do I sulk to the sideline when the trade didn't follow the script and you'll understand my position in the matter. I've been profitable using CoolTrade to handle my trades (paper and real). I understand a bit more about the markets, and am enjoying the lessons.
You can select to not share your strategies with the general community which is the case for many of us. And I have no need to try and outdo the last guy who outdid the other guy (or gal) in front of him. The universe of stocks that you choose to work with will affect your results in many cases also.
The product has served me very well over the time that I have been involved with it. Couple that with the fact that I have no need to run out onto the field announcing my last triumph, nor do I sulk to the sideline when the trade didn't follow the script and you'll understand my position in the matter. I've been profitable using CoolTrade to handle my trades (paper and real). I understand a bit more about the markets, and am enjoying the lessons.
Thanks for the response. Have you had any stability problems with it? It is reliable for you? Do you have to babysit it?
I find it strange that no one is concerned about the cooltrade employees, founders, etc. getting their strategies (even if the user elects not to share it with other users).
I mean, certainly the people who run cool trade sift through the profitable strategies (even of those who elect not to share them with other end-users) and co-opt them, no?
I find it strange that no one is concerned about the cooltrade employees, founders, etc. getting their strategies (even if the user elects not to share it with other users).
I mean, certainly the people who run cool trade sift through the profitable strategies (even of those who elect not to share them with other end-users) and co-opt them, no?
Initially there were more conflicts that came from all the other programs that I had on the machine than with connections with CoolTrade. After I took care of the conflicts it was fine. The first week I was a bit concerned with the possible hiccups that could happen. During the paper trade stage I even broke up the Internet connection a few times and watched it re-establish things. I am satisfied with its performance.
Since I trade with long-term strategies, I am not as concerned about Internet connections going down during the day. Employees and founders over there already have their own strategies. Somehow I don't think that they have the funds to corner the markets either. The basket of stocks that you are watching in your portfolio are resident on YOUR machine, so unless you share them you're ok also. I hope you don't think we're inventing strategies that aren't out there already (LOL).
I'm not hunting penny stocks so liquidity and investments from the CoolTrade folks probably won't matter much. But then again, who knows. Your concern would have to also be there for any auto-trader then. Do you have the same concern when you tell your broker why you're doing something?
Since I trade with long-term strategies, I am not as concerned about Internet connections going down during the day. Employees and founders over there already have their own strategies. Somehow I don't think that they have the funds to corner the markets either. The basket of stocks that you are watching in your portfolio are resident on YOUR machine, so unless you share them you're ok also. I hope you don't think we're inventing strategies that aren't out there already (LOL).
I'm not hunting penny stocks so liquidity and investments from the CoolTrade folks probably won't matter much. But then again, who knows. Your concern would have to also be there for any auto-trader then. Do you have the same concern when you tell your broker why you're doing something?
Canyonman, thanks a lot for your feedback.
Rereading my posts above, I don't want to come across as being too pointed or as trying to disparage CoolTrade or anyone there in any way whatsoever. It seems like a good platform and I'm sure their people are top notch. I don't actually have reason to believe that they do anything with the information that is phoned home.
I'm just being ultra-paranoid...
Rereading my posts above, I don't want to come across as being too pointed or as trying to disparage CoolTrade or anyone there in any way whatsoever. It seems like a good platform and I'm sure their people are top notch. I don't actually have reason to believe that they do anything with the information that is phoned home.
I'm just being ultra-paranoid...
No problem. To a certain extent, I do understand the paranoia.
