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You said it right there - internet is full of scammers.
Why would I sell a golden goose which can make me a million dollars a year with my secret formulas? Why would I be interested in maybe getting $5,000 from you, if it is really making me a million dollars?
I would just like to learn more about, and demo trade some automated trading systems. I know its not easy and you need a lot of trading and coding knowledge to design your own but was wondering if there was anything available that you could install and start changing settings on to try out a few different strategies. I dont want a “profitable trading system” for cheap, I know that doesnt exist. Or what is a better way to get in to automated trading for someone that cant code.
I found out about iSystems from NinjaTrader but im not sure if anyone here uses any of those systems in there.
Start playing with available scripts (Simple Moving Average) and strategy builder.
My recommended gurus are Ali Casey, Kevin Davey, Andrea Unger. Take a look.
All of them use Easy Language and/or other tools. NT programming platform is powerful but quite hard.
When I was first trading many years ago I fell in love with the mostly automated system of Roger Felton. It was just beautiful with lots of colors, renkos, places to take trades. It just looked so magical which fit my magical thinking about trading. It looked so easy. Not sure if that system ever worked, but I have since learned that automated systems need constant tweaking and usually come with a big price tag for the Wizard of OZ behind the curtain raking in the dough. Learning to read market conditions of price action and entering the market with precision are what pays off.
Some interesting and varied perspectives on this thread.
Personally, my goal is to automate my system. I try to execute it as robotically as possible right now but it is a challenge. Im sure an algorithm would be more efficient.
Furthermore, the ability to take every trade no matter when or where they arise, diversify into different markets (simultaneously), and be able to test the validity of the edge in different historical regimes makes systematising a trading strategy very attractive to me.
I believe an automated trading system is only as good as the person who designed the system and the specific ways in which it is being executed. You also have to take into account the market conditions at the specific point in time when the system is running and you have to be constantly tweaking and adjusting settings to adapt to the market. If you are only using the system to give signals when to buy or sell, you have to use your own judgement whether to listen to the system or not. I know of someone that was using some Forex bot a while back and was making a decent profit almost daily for about 3 months. One day he got caught off guard and not paying attention when the market turned on him and was instantly down about 80% on the day. He never thought about that situation occurring and didn’t implement any stop protection into the system.
when I say "trading system" - I mean a complete system not just an execution algorithm that executes on a given set up. For me a complete system includes the set-up, a risk management model to size trades and halt when certain threshold has been reached, a method to take profits (e.g. trailing stop or target) and a model that decides what market conditions are right to execute on the set up. Without all of these together its not a complete system in my view. The example you gave clearly the "system" was incomplete in that the risk management model was flawed or non-existent.
If I were buying a system that someone else had developed, Id want to know that all of the above components made up the system and Id want details of how they work.
A well designed system that takes account of different market conditions - i.e. its been developed and tested across a wide range of regimes - shouldn't need constant tweaking. If you constant tweak your system you'll never realise the true edge that you discovered in the first place. My personal view point.
