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Barberman
Would you be interested in starting a new thread, around your testing of this software package? Prevents current thread being diverted from its original intent.
best
Siennna
On FIO main page, click "Trading Reviews and Vendors", just below the chat box:
Then "New Thread""
Then just start it with a Title and a first post:
Ta-da!
Bob.
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Edit: a note on the name of the system: These guys apparently us "PATS" for their system, which makes sense based on the name. You should know that there is also a totally different trading site/system, based on Al Brooks-style price action, called "PATs" (Price Action Trading System, or something like that) by a guy named Mack, that is well-known and often commented on in FIO. So probably it would be best not to use the PATS name for the thread -- it would definitely confuse many who see it.
That didn't take long. I was starting to get nervous about the too-perfect "trading" results at about the time Sam pulled the plug. If it looks too good, it is too good.
It's funny that this thread was meant to be a sort of confessional thread about all the bogus trading programs people have bought, and it looks like it just got spammed by one.
Massive l
At the risk of sounding naive and please correct me if I'm wrong, I don't agree with this part of your statement, as it seems that it can just discredit any system or approach in a blanket fashion "Why would someone sell their successful system/indicators if it is in fact profitable?"
Isn't there another set of factors: Personal psychology, consistency in entering and monitoring and exiting a trade....to mention just some major well known factors. So a vendor could offer an above average quality system (absolutely NO endorsement of this vendor here as I have not tried their stuff)...a vendor could offer a system that will make money if used consistently as intended, or intended at least in current market conditions. However as we all know, via the famous Turtle mythology, the rules can be made very clear and openly distributed, but only very few will be able to follow it and use it to make profits. (Sure, maybe the market conditions have changed....maybe....that would make the Turtle system less effective. I could not comment)
The one thing about this vendor that DOES worry me is the fact that at least one of two things are missing: 1) A free trial and/or 2) a series of live webinars where trades are taken in real time, on a live account.
As a work around of sorts, it would be interesting if Barberman was prepared to run a Journal, over some months, using this system with SIM and then Live.
Did you see the question marks? He was asking a question, not making a statement. You’ve read into that way too much and you have injected your own emotional bias into the actual words and grammar. This is exactly how texts and emails get misconstrued.
To make sure we are all up to date, Barberman has been banned and his posts have been deleted, as has the new thread he started. The reason, stated by @sam028, a FIO admin, in his notes where he deleted the posts, is "Advertising/self promotion."
The posts Barberman was making in the other thread were all amazingly profitable, and showed nearly 100% success rate. (Mostly screenshots of the P/L screen, just a couple of charts with trades.) I recall what I think was his last post, which showed $1,000 profit so far that day. This all made me extremely uncomfortable, because real trading by actual profitable traders is never this perfect.
About the time I saw that last post, Sam pulled the plug. He obviously thought Barberman was connected to the vendor and was plugging the system with bogus results, not trading it. Having seen a lot of such attempts in FIO over the years, I think I agree.
Which means that the system is likely not going to work out too well for traders who try it.
I am not in favor of cynicism, but I do think skepticism is generally warranted, which means that someone who makes claims has to prove it. Vendors that give a lot of info and who are above-board, and whose stuff works out when traders use it, do deserve the business they get, and they definitely do get it. There are a lot more that fall short, unfortunately.
This thread is basically a thread that reflects a great amount of skepticism toward programs/systems being sold to traders, and in fact the experiences that are recounted in it generally support that skepticism. It's important to be fair, but it's also important to know about all the junk that is out there, and about the amount of fakery that is routine in this market.
