Selling it's own invented trading system = always a scam?!

[WmWaster]

Quote from 2cents:

agree however you'd be surprised at how one can create not one but 1024+ signal services all with different names etc, with wide enough stops or no stops / TP targets at all since don't forget we are targeting fairly gullible people here, which there are legions of... the way it works with these signal 'services' is the so-called spaghetti technique... if you throw enough spaghettis against the wall, some of them will always manage to stick... all you need is a bit of a track record, knowing that simply tossing a coin your odds are already pretty much 50%... ...

maybe i'll just stop here, dont want to give anybody any bad ideas.... have a great week-end ;=)

Agree!

That's why there're many scammers since they can make a living from selling rotten systems.

dont want to give anybody any bad ideas....

It doesn't matter at all. Here's discussion forum, not preaching forum. Here welcomes opposite opinions

 

[WmWaster]

Quote from slacker:

The decision matrix of buying a ‘black box’ system looks much the same for Pascal’s Wager:

If BlackBoxSystem vendor can deliver = unlimited wealth with fantastic change in life style
If BlackBoxSystem vendor can deliver and you do not bet = misery (missed chance of a lifetime)
If BlackBoxSystem vendor cannot deliver = status quo ($5000 loss, no change in life style, regret but less than the misery of missing the chance of a lifetime)
If BlackBoxSystem vendor cannot deliver and you do not bet = status quo (no change in life style, no satisfaction, regret the plan did not work)

The key to vendor success seems to be to make the most outlandish claims of success in proportion to the cost of the system. In a population of sufficient size there will be people waiting to pay to see if you can deliver. Same as in Lotto ticket sales; the odds decrease as the size of the pot increases driving sales of tickets higher.

Always the BlackBoxSystem vendor cannot provide actual trading results. The most common explanation is, “Well I trade a lot of different positions in my account and I do not want to disclose everything I trade.” Someone selling a $3000 system cannot set up a separate account to trade and verify their trading results? Even Interactive Brokers has a ‘Friends and Family’ input option that allows you to trade combinations of accounts with just a mouseclick. If anyone wanted to provide a history of real trades it would cost nothing and be set up with very little effort.

Don’t expect a rush to provide results to any commercial system. It is not going to happen. Yes, all ‘systems’ are scams IMHO. Some systems may have worked in the past, but by the time they are sold they are in the ‘cash cow’ category. Once available for sale they have no more trading value and the only value left is to sell it on the web.

Good luck!

Although it doesn't always hold true, I wonder if one prices its system in a very high price, chances are that this system works!