How much would you pay MAX on a monthly basis for an innovative profitable indicator?

[Southampton]

First question, who is MAX?

 

[Mtrader]

Yes, I have paid $1000/month for a "profitable" system but finally it's a... bullshit.

Most traders on ET paid more for their own developped indicators that did not help them to become profitable. So what's the difference?

 

[algofy]

LOL, I been trading nearly 40 years and I know how to trade and most all of my best systems are automated, I only recently subscribe to one service that tracks "Tax withholding" which calls all major trends in stock market, when I can capture 75% of the range of nine years, I am more than happy. It is good to be confident of what people have for a business, but assuming all going to want your services in insane, I trade cause of the "challenge" of me against me and money are the points for the game in my 401k.



HUH? he is a salesman, if you have to rely on a indicator to make calls, do you think you have evolved to be one with the market? And when the indicator stops working cause nothing is 100%, and life cycles at different times, will you have the experience to know how to make changes? If whatever people sell worked incredibly well, how come they not managing a hedge fund or trading accounts to build up monies for their own account? I have seen systems that has cost over $50k and always the same, they not worth more few hundred bucks cause they never work all the time.

Charts are like an airplane, if you don't know how to fly it-just a large paperweight, but if you can fly, around the world you go and just cause of the experience you have.

Happy Holidays

Trust me, it isn't " interesting " in a good way.

 

[profitlocker]

I simply use two indicators - moving averages which represent efficient price & a volatility measure - which gives me optimal exit point for a short term trading. See?! I would not mention which MAs and which Volatility measure. I would never mention them.

This is all you need. It's a simple formula. Define momentum with price based average, and probability with volatility study. Reverse (considering positive expectancy) if wrong, and if wrong again move on to next candidate.

 

[algofy]

10 bucks says this amazing life changing indicator doesn't exist.

 

[w4rn1ng]

LOL, I been trading nearly 40 years and I know how to trade and most all of my best systems are automated, I only recently subscribe to one service that tracks "Tax withholding" which calls all major trends in stock market, when I can capture 75% of the range of nine years, I am more than happy. It is good to be confident of what people have for a business, but assuming all going to want your services in insane, I trade cause of the "challenge" of me against me and money are the points for the game in my 401k.



HUH? he is a salesman, if you have to rely on a indicator to make calls, do you think you have evolved to be one with the market? And when the indicator stops working cause nothing is 100%, and life cycles at different times, will you have the experience to know how to make changes? If whatever people sell worked incredibly well, how come they not managing a hedge fund or trading accounts to build up monies for their own account? I have seen systems that has cost over $50k and always the same, they not worth more few hundred bucks cause they never work all the time.

Charts are like an airplane, if you don't know how to fly it-just a large paperweight, but if you can fly, around the world you go and just cause of the experience you have.

Happy Holidays

I wrote my last post as a mean to citate my preferred author, napoleon hill.

Anyway I've not yet sold a single thing to anybody in my life, and the reason why I'm confident in my indicators is because i used them for many years and i know their potential value, then really I've no idea if other traders will find them useful too, i hope yes.

Merry Christmas to everybody and thank you for participating in this thread

 

[SimpleMeLike]

Most traders on ET paid more for their own developped indicators that did not help them to become profitable. So what's the difference?

Mtrader,

Good logical comment.

The difference is the trader paid for something he/she personally developed, and have the logic/code for the system. Even if the system they developed did not produce money, it did produce experience and know-how. It's the learning curve that Handle123 is recommending. And agree.

I personally bought a $2000 system 4 months ago, started using it and it was decent. After reading more about programming, backtesting and how to build a system for myself, i ask the developer for the code behind the system and he said NO.

I was very shocked the developer said NO, considering I did bought the system. But he said the code was proprietary and his not to share. I got to respect that.

Now I have to code my own. Then test how I want to.

 

[Mtrader]

Even if the system they developed did not produce money, it did produce experience and know-how. It's the learning curve that Handle123 is recommending.

Buying the useless indicator does produce experience and know how too. It is also a learning curve.

 

[Handle123]

When buying a system, you are buying a set of rules, plain and simple. What you are not entitled to is the years that person learned how to code so you can steal that code to build something else. Ever buy a ticket to fly somewhere? Do you expect the pilot to teach you to fly? Pilot has thousands of hours to become a pilot and in no certain terms is he going to put you in his seat cause you want to learn to fly jets, he will tell you to go to small airport and take lessons. Trading no different.

I have spent over 6 figures in my time for everything under the sun dealing with trading because I was making profits and taking cost of it off my taxes. I wanted to take it apart and see if I could make it better, what many would say was complicated, it wasn't, last year I donated it all to local University, I kept three books and one can use "search" for names of those titles, they deal with price action and all written before home PCs. If you work hard in your first couple years of trading is all you need to trade, expand on when not to take trades, meaning left of current price action, learn by your winning trades as far as risk and reward. One moving average all you need as quick way to define trend and entry. And the max cost per month for this is zero. Better to learn as many ways to reduce risk than ways of increasing profit in the beginning, you get your risk as low as possible, one's account will grow.

The more people charge for stuff does not make it more worthy, it is just cause they can get it from those who can't make a living from trading.

 

[SimpleMeLike]

This is all you need. It's a simple formula. Define momentum with price based average, and probability with volatility study. Reverse (considering positive expectancy) if wrong, and if wrong again move on to next candidate.

Thanks profitlocker,

Can I please have an example of this setup you mention please? An example trade with chart would be great.

I would appreciate it.

Thanks