Paying $10,000 for a daytrade system...

mcast12 · May 26, 2009

The only caveat is you have to post/email/twitter/blog your entry/exits realtime so we can watch. If after 2 months or 100 trades, your system is shown to work I'll cough up the cash. No made up/historical data allowed.

Although this is my first post, I've been reading my way through these forums extensively and backtested quite a few "systems", quite frankly I've never read so much garbage in my life.

If I read another post "...my system/indicator is 80-90% right!..." I'll puke.

Handle123 · May 26, 2009

Quote from mcast12:

The only caveat is you have to post/email/twitter/blog your entry/exits realtime so we can watch. If after 2 months or 100 trades, your system is shown to work I'll cough up the cash. No made up/historical data allowed.

Although this is my first post, I've been reading my way through these forums extensively and backtested quite a few "systems", quite frankly I've never read so much garbage in my life.

If I read another post "...my system/indicator is 80-90% right!..." I'll puke.

I laugh every time I see something like the above. There are TWO divisions in the Trading World, the ones who can and 95% plus who can't. U.S. citizens are gullible people, we have the richest country in the world, but we are some of the dumbest in the world. Anyone who spends the thousands of hours to develop a well back and forward tested method is not going to sell their method for a lousy $10k and have to put up with all the b.s. as noted above.

Sometimes you can get a few new ideas from ebooks, a new way of seeing something, but they still have to be tested, and I use a sample size of 3000 and must go back ten years, I doubt many vendor systems are backtested this many occurances.

But anytime I see a vendor mouthing off "his wants to give back", RUN, if he wanted to give back, just give it for free, LOL

If someone is selling a system, and he says it works, why not do 100 lots, and if he is doing that size, and it was making money, why would he sell it?

Handle

plan · May 27, 2009

I'll start.

Buy a ton of SPY tomorrow at open near 91.3 with stop at 87.99. If it doesn't stop you out, sell half at 93 and move stop to break-even.

I think that's a good start.

NeoRio1 · May 27, 2009

Quote from mcast12:

The only caveat is you have to post/email/twitter/blog your entry/exits realtime so we can watch. If after 2 months or 100 trades, your system is shown to work I'll cough up the cash. No made up/historical data allowed.

Although this is my first post, I've been reading my way through these forums extensively and backtested quite a few "systems", quite frankly I've never read so much garbage in my life.

If I read another post "...my system/indicator is 80-90% right!..." I'll puke.

Sorry to tell you but you will not find anything. Think about it for a second. If you actually had the LUCK and/or PRIVILEGE to see and examine hundreds of trades made by a successful trader then you would learn the method. Once you learn the method there would be absolutely no reason to pay up.

It's like saying you will pay a person 10K for a world famous recipe. The only catch is that you will have to watch the person make the recipe countless times before you pay. You will learn the recipe and then forget about paying.

Unless you have a brother/close friend who is a successful trader you will have to depend on yourself. That is the horror of trading. That is the beauty of trading.

NazSpaz · May 27, 2009

Quote from NeoRio1:

Sorry to tell you but you will not find anything. Think about it for a second. If you actually had the LUCK and/or PRIVILEGE to see and examine hundreds of trades made by a successful trader then you would learn the method. Once you learn the method there would be absolutely no reason to pay up.

It's like saying you will pay a person 10K for a world famous recipe. The only catch is that you will have to watch the person make the recipe countless times before you pay. You will learn the recipe and then forget about paying.

Unless you have a brother/close friend who is a successful trader you will have to depend on yourself. That is the horror of trading. That is the beauty of trading.

Perfectly said.

Marsupilami · May 27, 2009

Quote from NeoRio1:

Sorry to tell you but you will not find anything. Think about it for a second. If you actually had the LUCK and/or PRIVILEGE to see and examine hundreds of trades made by a successful trader then you would learn the method. Once you learn the method there would be absolutely no reason to pay up.

It's like saying you will pay a person 10K for a world famous recipe. The only catch is that you will have to watch the person make the recipe countless times before you pay. You will learn the recipe and then forget about paying.

I strongly disagree !

In most cases, you cannot reverse engineer a strategy by simply having access to trade entries and exits. It's not that simple. If it were that easy, I'd apply for a job at Interactive Brokers or some other broker right now to get access to profitable clients' trades, lol.

Marsupilami · May 27, 2009

Quote from Moderator:

IMHO, there is no way to decipher the reasoning behind trades. 100 trades with 20+ different reasons for taking each trade. No chance.

This is Jack Hershey's fear about reverse engineering SCT if he trades live, yet he hands out ring binders full of instructions. With all the help look how confused his followers are!

Really, a trading method could have over 100 components and each signal comprises variable combinations, and you think you could work it out from a time and a price?

If knowing time and price allows you to break the method, then take every market reversal and work out the major system that controls the market.

Right ! How does one know what on earth the trader is watching when he is initiating a trade ? From planetary flux lines to Elliot waves, volume, time and sales and Market Profile, fundamental news or advanced mathematical models, there is and endless variety of components that could be part of a trader's strategy or strategies.

Trading is not like baking a cake, unfortunately

Kap · May 27, 2009

10K ? why would anyone do that. Now 500K, and you can sit here and I'll show you.

NihabaAshi · May 27, 2009

Quote from mcast12:

The only caveat is you have to post/email/twitter/blog your entry/exits realtime so we can watch. If after 2 months or 100 trades, your system is shown to work I'll cough up the cash. No made up/historical data allowed.

Although this is my first post, I've been reading my way through these forums extensively and backtested quite a few "systems", quite frankly I've never read so much garbage in my life.

If I read another post "...my system/indicator is 80-90% right!..." I'll puke.

If you go online on IRC to the #IndexFutures chat room on the FinancialChat server or many other trading rooms on the Othernet server...

Note: To find all the rooms...just log into those servers and use the /list command line...it will pop up a screen with a list of all the public trading rooms.

You will meet several profitable traders that post their trades in real time for many months and years...well over +100 trades.

Simply, don't go there and post the same message as you did here or else you'll be coughing up a lot more than 10k.

:eek:

Unless there's more conditions to your offer than what you said in the above quote.

Mark

r-in · May 27, 2009

Quote from NihabaAshi:

If you go online on IRC to the #IndexFutures chat room on the FinancialChat server or many other trading rooms on the Othernet server...

[
Mark

Mark,
I'm checking help files also, but am asking here too, do you off hand know what I need to do to get MiRC to work with Zone Alarm? It used to work years ago when I was on regularly, but now it keeps popping up that ZA is blocking, even though I manually accepted the connection. I need a new chat room, and I have put off making a switch long enough, so am going to look through Mirc.