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BMT Members teaming up


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BMT Members teaming up

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  #11 (permalink)
Chicago, Illinois
 
Experience: Beginner
Platform: Esignal
Trading: ES, NQ, Crude
 
Posts: 120 since Apr 2012
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wldman View Post

BTW Big Mike, we share the same passion for Labs and I know from our other communication that you are a "dog guy" so the family has decided to make a donation in your name to Great Lakes Lab Rescue. GLLR | Dog Rescue Thank you for the value and the tremendous effort you make to benefit others with futures.io (formerly BMT).

@wldman

If you really did indeed do that....then thats an incredibly nice thing to do.
nice job.




Big Mike View Post
I don't really like the idea as for encouraging people to buy indicators. I want to discourage people to do that, not encourage them or facilitate more purchasing of indicators.

Mike

@Big Mike

I wouldn't say its about "encouraging people to buy indicators"....that sort of implies that every vendor under the sun is going to create his/her own thread and promote their signals to the masses, hoping to capture pools of potential paying customers.

I would say this is more of a scenario where a futures.io (formerly BMT) member sees something they like, and wants to team up with a handful of other futures.io (formerly BMT) members who also likes the same thing, for any number of reasons:

-reduce the financial out of pocket risk (share the cost)
-learn as a group, instead of learning as an individual
-bounce concepts off each other, sharing different perspectives

Lets say you put a trade on, and you have to decide if you want to put your stop at 50 ticks or 10 ticks.
10 ticks dramatically reduces your financial risk, and 50 ticks increases it.
How is this concept any different?

Guess what....at the end of the day people are going to buy indicators anyway.
Whether those indicators are scams or legitimate, well thats another story

Around 5% move the market. 10% try to follow the 5%. The rest provide liquidity.
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  #12 (permalink)
Chicago, Illinois
 
Experience: Beginner
Platform: Esignal
Trading: ES, NQ, Crude
 
Posts: 120 since Apr 2012
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MWinfrey View Post
What might be a better idea is if you must have indicators that are custom built and a group wants the same things, contract with someone like me to have them built and you then get them the way you want them.

@MWinfrey



I'm not following....are you saying that if we found something we really liked, you could figure it out (decode) and replicate it?
Isn't that simply called reverse engineering?

Or are you saying that if we wanted something custom, like an audio alert or something.....you could program that for us.

Around 5% move the market. 10% try to follow the 5%. The rest provide liquidity.
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  #13 (permalink)
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
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Posts: 6,002 since Jun 2009
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SpyderTrader View Post
So basically I wanted to know if its possible for futures.io (formerly BMT) members to team up and do a group purchase of an indicator.

For example, if several futures.io (formerly BMT) members wanted to try out a certain indicator, and we partnered up and split the cost.

Just an idea, if anyone has done that before, please post.

I'm assuming, of course, that if its something you wanted to do, you could simply PM the member.

Big Mike, let me know how, and if, this is something you'd be cool with.

Thanks.

I prefer For example, if several futures.io (formerly BMT) members wanted to try out a certain indicator, we partnered up and make it.

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  #14 (permalink)
Lubbock TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Stage 5 Trading
Trading: CL
 
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Posts: 1,880 since Jul 2009
Thanks: 1,450 given, 3,325 received


SpyderTrader View Post
@MWinfrey



I'm not following....are you saying that if we found something we really liked, you could figure it out (decode) and replicate it?
Isn't that simply called reverse engineering?

Or are you saying that if we wanted something custom, like an audio alert or something.....you could program that for us.

The latter...take a look at all the indicators in the downloads area. Those are examples of what I'm referring to. If you want to purchase something like RJay's HybridRenko and then share the cost of that with others, then I would not be a party to that. Products like that which are offered to the public for a price is a problem imo. The fact is that most of those products are protected as was described in one of the early posts. So sharing the cost for purchase of a product like that isn't feasible anyway.

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  #15 (permalink)
Colorado
 
Experience: Advanced
Platform: MultiCharts
Broker: IB & Iqfeed
Trading: ES , CL
 
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Posts: 543 since Apr 2010
Thanks: 1,094 given, 696 received

I'd rather see futures.io (formerly BMT) members "Team Up" to take a basic system (BO type or other) and have a contest to see who can make it the most profitable, using MM etc., with some sort of prize for the winner. (buying indicators is a waste of money)
Sharing different and creative MM etc., techniques would benefit us all.

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  #16 (permalink)
Lubbock TX
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Stage 5 Trading
Trading: CL
 
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Posts: 1,880 since Jul 2009
Thanks: 1,450 given, 3,325 received


sptrader View Post
I'd rather see futures.io (formerly BMT) members "Team Up" to take a basic system (BO type or other) and have a contest to see who can make it the most profitable, using MM etc., with some sort of prize for the winner. (buying indicators is a waste of money)
Sharing different and creative MM etc., techniques would benefit us all.

That sounds promising. If I understand, we all use the same entry criteria but each use our own MM?

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  #17 (permalink)
Legendary Market Wizard
Cancun, Mexico
 
Experience: Advanced
Trading: Stock Index Futures / CFDs
 
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Posts: 863 since Dec 2010
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sptrader View Post
I'd rather see futures.io (formerly BMT) members "Team Up" to take a basic system (BO type or other) and have a contest to see who can make it the most profitable, using MM etc., with some sort of prize for the winner. (buying indicators is a waste of money)
Sharing different and creative MM etc., techniques would benefit us all.

Hmmm, Battle of the Bots??

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
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  #18 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
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Posts: 49,146 since Jun 2009
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Anagami View Post
Hmmm, Battle of the Bots??

Yup, that is one of its primary purposes.



Mike

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  #19 (permalink)
Chicago, Illinois
 
Experience: Beginner
Platform: Esignal
Trading: ES, NQ, Crude
 
Posts: 120 since Apr 2012
Thanks: 12 given, 223 received

Well, this thread didn't seem to generate much interest, oh well.

If anyone out there is looking for partners to team up on an indicator, you are more than welcome to PM me, or post in this thread.

On the same token.....I have been collecting a list of vendors that I want to try.
This group of indicators is very effective, but a bit out of reach in terms of cost.

I don't want to publicly list them all (theres only 4-5) because Big Mike might consider that "vendor advertising" so you'll have to PM me and I'll send you the list, you can evaluate them on your own.
I think 3 of them have videos of youtube.

Then if you're interested in partnering up, we can set something up.

Thanks.

Around 5% move the market. 10% try to follow the 5%. The rest provide liquidity.
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