Most developers on Collective2 broadly describe, but don't publish, their strategy per se. Collective2 takes care of the posting of trades and PnL. That may not be satisfactory to people who insist on real money, not sim, trades taken by the developer, but the workings of Collective2 seem to fit your criteria in (2).
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I tried putting my system on there, i can confidently say that that site is mainly bogus( unless your not day trading, meaning your holding a swing position, which in that case those system might actually work).
I can't tell you how many times i put in an order, and it never registered on their site. Then when i exit, it sends a sell order..
It took collective2 at least 2 weeks to respond when i told them that this happened.
I also get a lot of 'everything is here on Big Mikes'. Well, to save people from Vendors who are super human traders supposedly doing X $ of profit then if they saw traders actually doing it on Big Mike's it sure becomes a lot more believable.
For instance, I am new to trading, this is my first time entering a forum. Wow! Michael H. is so profitable! Wow! He is legit and real and now I can feel it. It is transparent to me that I can do what these guys are doing and voila, given the right amount of effort and dedication then I can become a very good trader like him.
Well, which of these guys are actually right? Are they all right... hmmm. Maybe I should just go to a Vendor as they seem to be so profitable and the comments on the website are great! Or this Vendor, hmmm, which vendor should I choose!
I would prefer they spend time developing themselves as traders then decide if they want a vendor etc.. But, my preference isn't important. Just trying to help, not hurt.
Neither does zulutrade or any of the other web collaborative trading environments..... At least not yet.
PAMM or LAMM are the only effective trading methods that I have seen actually bring profit to my wallet. Maybe that will change in a few years as technology gets better with safeguards etc..
But, again the focus was to have credibility through the forum. Seems like a bad idea as so many are so outspoken about proving profitability. I guess that is the eternal confusion for me of why people resist transparency in politics, relationships, health etc...
Your experience and observations are legit. Nonetheless, it is one of the bigger marketplaces for system shopping. Replicating short term day trades is not doable unless the subscriber has access to the developer's software or server residing at the broker.
Any developer seriously considering this type of service should also check out Attain and Striker.
Personally, I could care less if Fat Tails, Gomi, Big Mike, or anyone else, makes money or not; as long as they bring something of value to the table. If you need to see other people's success to inspire your own success, then it means you are motivated by envy, and not self-fulfillment. It also means, you probably won't succeed.
Last edited by tigertrader; December 30th, 2010 at 05:42 PM.
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Thanks. Gosh, comments like "It also means, you are not going to succeed."
Wow... I see you have made up your mind and decided who will and won't be successful doing things in life.
I believe trading is like just about everything. Yes, if you compete with everyone else, all the time you will end up empty inside no doubt, but that doesn't mean you will end up with an empty checkbook. Not that I am promoting either.
I disagree with you immensely when you say that by looking at others is only working off of ENVY. I honestly don't think you are understanding the point or you would not say that, but I have written plenty so I am not the best writer or explainer of my ideas, so I give up.
I have made millions of $'s a couple of times in my life. Each time, EGO based and competing with others and always having to have others show me the way. However, without those examples, then I would not have had the vision to create that wealth on my own. I would have had the same vision as I ate and drank the same 'medicine' that society handed me readily available.
I do believe not everyone has the same innate abilities and some require more leading, while others are good at starting and others finishing and even others with just the vision.
Look back at your post and I think you MAY find it 'limiting' in how you believe or perceive others and their abilities. But, I do appreciate your perspective as it is always good to see as many as you can to understand things a bit better. I applaud you for chiming in and thanks.
Good advice is always good advice, but to me, I listen only to people who have done it. (That is ONLY ME or MY OPINION)
I think when people say that everything is here on futures.io (formerly BMT) they are referring to indicators that you are being charged hundred if not thousands for by some vendors... that has always been my understanding. At the same time, there is a lot of knowledge on the threads, one just has to spend some time reading and making the determination if it adds value or not... eventually one realizes there is no magic indicator, but only understanding the markets and their constituents is what grants you success..
Also, how would someone else's being profitable help you, if that person was not to teach you or even guide you? if he decided to guide you, does that mean you will succeed as well? Why do you need to know others can succeed for you to succeed? I think that a master can teach a disciple, and that does not mean that disciple will become a master himself.. therefore, success from one person might not mean success to the other...
on another point; one doesnt have to loose thousands to learn to trade.. one just need to find the right instrument on which to trade that his/her circumstances permit it.. I am still a firm believer that Sim trading teaches very little... you can take $30K and day trade equities risking $100 per day max loss and learn to trade that way, and then migrate to futures... or pick forex and work with micro lots... again, until you know how to trade.. IMO sim and real money are two completely different states of minds.. and there is no way to avoid your internal compass from knowing one has no impact and the other one does.
FatTails... I am skeptical about game theory applying to futures when the players are that many... hard to achieve any equilibrium.. specially Nash's, given one doesnt always know the strategy of others so it can be taken into account.. just my 2 cents.
Lastly; in this age of photoshop... one can post any tax returns or account statements showing amazing returns.. heck, one can even have a site coded that will replicate an account management platform from one of the FCM's and alter one's record for show... so caveat emptor... none of those things mean much in the end.
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