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List of vendors selling BMT indicators

  #39 (permalink)

Elite Member
Seattle, Washington
Trading Experience: Intermediate
Platform: NinjaTrader, ThinkorSwim, TWS
Favorite Futures: ES, Forex, Options
Posts: 6 since Dec 2012
Thanks: 14 given, 7 received

wwwingman View Post
Interesting. What is an invention? Do you consider an idea to be an invention? Do you consider having an idea means it is your property?
Studies show many people have THE SAME idea at the same moment (one example is startups in Internet). Some will make something out of it, some will not succeed, some won't try to use it. Finally, is an idea worth something? Investors very rarely pay an idea because they don't give it that much value. However they will pay the product, or at least the execution of a proof of concept.
So.... having an idea, being an inventor, is one piece of the idea/invention/product circle you are describing. The coder have a role too. The one you consider copying, or making it better. The seller too. The user too.
Just my 2 cents.

Hi Folks,

I am a newbie to this forum and I came across this thread while researching the excellent work of Fat Tails. I am an inventor because I have many issued patents (US and Internationally) and my inventions are used by my employer in shipping products. I also sit on Patent Committees, I read about 150 invention disclosures per year and I've even spoken at the USPTO (by invitation twice - to teach about my inventions - not to teach them about their work - big difference). I only say this so that you know I have some background in the area of Intellectual Property. There is a difference between Patents and Copyright (both are IP). A patent is the idea in a preferred enablement. Copyright can be similar but generally applies to original creations (works of art, logos, code, etc.). Both are protected and are the property of the creator.

It would take too many pages of text here to get into details but essentially, anything that can be patented has to be novel, useful and enabled (meaning it is do-able). So you can have the "idea" that you will use a rocketship to get to Mars but the guy or organization that actually enables a workable rocketship is the one who gets the patent.

Once something is in the public domain (by way of publication, presentation or patent), it is no longer available to be claimed in a patent except in the case of *reduction*. So if someone patented a method that requires 5 steps, and you figure out how to do it in 4, then you have a new idea that can be patented. If you do it in 6 and those 6 steps contain the original 5, you are infringing.

In the case of indicators, someone who copies code directly or only makes minor changes and claims it as their own is in violation of Copyright (and they are a scumbag). Someone who takes a non-patented (think non-protected) idea and substantially modifies the code, method or functionality has created and original work which is theirs.

There is much more that can be said - so much so that our courts are tied up with the infinite verbiage that this area of law has created. But I hope this brief explanation helps.

BTW, I too was following a previously mentioned well-know vendor and even bought DVD's and went to seminars, etc. All newbies do that. It didn't take me very long to smell a rat. Thankfully, due to my natural skepticism and my ability to research, I never shelled out many dollars and I never traded their signals.

Incidentally, when I compare the value I get from (formerly BMT)F to the value I've received from my previous "education" activities, there is no comparison. (formerly BMT)F is among the best of deals in the industry :-)


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