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So, I'm in the market for an Automated Trading Strategy that will plug straight into NT7. I'd like to stick with futures but i'm open to other suggestions.
I've had a look around the web and nothing really jumps out at me, I'd love to get it straight from the horses mouth from the people using and profiting from autotraders.
What autotraders are you using guys and gals? self developed/bought/leased?
What profits are you seeing on average every month? Pros! Cons! Do tell all!
Can you help answer these questions from other members on NexusFi?
Best advice: don't spend any money on systems or methods. Spend money on books and do your own research on forums like this one for free. That way its just pure education, no agenda.
Have you looked into XBOTAutotrader? DPauls first BOT trades TF a few times per month and is 70 to 80% profitable. You lease it to run local on NT or on the broker servers (totally hands off). He is nearly ready to release his next BOT nicknamed Junior and is a scalper that goes for 5T 1st and then 20T and may trade several times per day. I have been watching this one as it seems to be very profitable.
Beware, this doesn't look very serious.
It's very simple: people or companies who have good bots don't sell them.
So if you see somewhere a bot which is supposed to make money, and costs less than $100k/month, forget about it, it's a scam.
I have consulted for a commercially available and very succesful automated trading stratgey (it is not available on the NT platform and I will not divulge which it is, either openly or in private, so please don't ask). I can assure you that there is a very good reason why a vendor would want to sell/lease a successful system, other than the revenue, of course.
That reason is to receive user input and ideas. The system I was involved with was pretty good when it was first marketed, but it was the users trading it on different instruments that made it so succesful.
If you want to make sure that you are not curve fitting, give it to different users trading very different instruments. As long as licences are strictly controlled and limited, then you end up with a win win situation as a vendor.
The surprising aspect of this is that as far as I know, less than 50% of the users of this succesful system make money using it, whereas the others make serious profits. So even if you give people a very good trading tool, most people still can't make money using it. Food for thought.
I know there is a lot of crap out there but I still want to believe that somewhere there is a winning autobot.
If I think about it logically then if we can trade a successful system then so can a computer, if not then we are all completely insane looking for logic where none exists.
