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Looking for feedback on a futures signal service I am considering starting
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Looking for feedback on a futures signal service I am considering starting

  #1 (permalink)
New Orleans, Louisiana
 
 
Posts: 8 since May 2017
Thanks: 0 given, 1 received

Looking for feedback on a futures signal service I am considering starting

Hello fellow futures traders,

I trade the e-mini S&P 500 and use a proprietary system that generates signals. I've done quite well with it (about a 90% success rate with 5% break evens and 5% losses) and am considering starting a website where I sell the signals. I know that I will have to give the signals away for free for some period of time to display the accuracy of the system. So, I am looking for feedback:

Other than giving the signals away for a period of time, is there any other good way to prove the validity of my claims?

Do you think a price point of $500/month would deter people? I don't want to price it so low that I undercut myself, but I also do not want to scare people away. I figure I can offer to charge only if a certain number of points are earned per month, otherwise no charge.

Any ideas on advertising methods? So far, I've been considering Google pay per click, but there seems to be a lot of competition out there. My main concern is figuring out exactly how I can differentiate myself to show that I have a good product to offer.

Any ideas on how to prevent people from sharing the signals with others? Part of the reason I feel such a high price per month is appropriate is not only because of the success of the system (I won't charge unless it generates a 25 point profit per month) but also in the hopes that it will act as a deterrent from people posting it due to how much they are paying to receive it.

Thanks for your help. I'm not entirely sure if I am going to go through with this, but I figured this would be a good community to get ideas from.

If there is anything that someone feels I have overlooked, please feel free to comment. I'm still in the information gathering phase. I know I'll be asked this so I'll address it- why do I want to sell the signals? I've always had an entrepreneurial spirit in me to have my own business that is successful, and this I think is the best opportunity since it's a subject matter that I have a good knowledge about.

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  #2 (permalink)
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  #3 (permalink)
Germany
 
Trading Experience: Intermediate
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thankswillie View Post
... is there any other good way to prove the validity of my claims?

...My main concern is figuring out exactly how I can differentiate myself to show that I have a good product to offer.

A very simple start: Show up with an audited track record of a real money (sub)account that traded all signals that
were produced by your system over a representative period of time.

P.S.: Assuming your question is for real, one more hint: Don't bore people with success rates.

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  #4 (permalink)
New Orleans, Louisiana
 
 
Posts: 8 since May 2017
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Definitely a real post. I know there are a lot of scammers out there who mislead people with claims similar to the one I made, but I want to prove that I am different.

So, based on what you said, you think a screenshot of past trades on my ThinkOrSwim account would be sufficient for what you are saying? That idea crossed my mind, but I was worried I would be accused of photo shopping it since people are good at that these days.

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  #5 (permalink)
Germany
 
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thankswillie View Post
Definitely a real post. I know there are a lot of scammers out there who mislead people with claims similar to the one I made, but I want to prove that I am different.

So, based on what you said, you think a screenshot of past trades on my ThinkOrSwim account would be sufficient for what you are saying? That idea crossed my mind, but I was worried I would be accused of photo shopping it since people are good at that these days.

You skipped the word "audited" ...

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  #6 (permalink)
New Orleans, Louisiana
 
 
Posts: 8 since May 2017
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Ok, could you provide me with an example of what you mean by having it audited? Are you suggesting I grant a third party access to the account to verify trades?

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  #7 (permalink)
Germany
 
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thankswillie View Post
Ok, could you provide me with an example of what you mean by having it audited? Are you suggesting I grant a third party access to the account to verify trades?

That's exactly what e.g. fund managers do to prove their record. They grant a third party - auditors - access to
the accounts and get an audit opinion in return (if valid).

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  #8 (permalink)
New Orleans, Louisiana
 
 
Posts: 8 since May 2017
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I think your idea has a lot of merit, and I am definitely going to shop around pricing to have a reputable firm come in to do that for me. I think doing that along with posting the signals for free for several months would establish credibility. There's only about 6-7 trades per month, so it's not something that will consume much of a trader's time.

What do you think of the $500/month price point if I say that I won't charge unless there's a profit in that month of 25 points or more?

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  #9 (permalink)
Market Wizard
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How long have you been testing your system live (on a real account with real money)
SIM fills are very different from real market fills.

What is the total number of trades the system took ?

A realistic period is like 18 Months, but a professional will say, ok the market only went up
so they will most likely want to see your system in up market and in down market

Good luck !

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  #10 (permalink)
New Orleans, Louisiana
 
 
Posts: 8 since May 2017
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rleplae View Post
How long have you been testing your system live (on a real account with real money)
SIM fills are very different from real market fills.

What is the total number of trades the system took ?

A realistic period is like 18 Months, but a professional will say, ok the market only went up
so they will most likely want to see your system in up market and in down market

Good luck !

I have been trading the system live since about last September. It has been generating an average of about seven trades per month, with some months having several more than that and other months having many fewer. So, I am definitely far short of the 18 months you mentioned there.

I did go back with about two years of data to see how it would have done and it had similar results, but we all know that doesn't count for much because trader psychology changes when live money is on the line.

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