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BMT Members teaming up


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BMT Members teaming up

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

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.

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  #3 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
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Posts: 50,151 since Jun 2009
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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.

And I don't want to give "weight" or acceptance to any particular indicator vendor or indicator through a group buy.

So no, I really would be against this.

Mike

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  #4 (permalink)
 Peter2150 
Washington DC
 
Experience: Intermediate
Platform: NinjaTrader
 
Posts: 214 since Jun 2009
Thanks: 110 given, 117 received

Also there is another minor problem. Most license agreements specifically prohibit this, and also most of the commercial indicators, need your machine ID so they can turn them on. I doubt if any vendor would register your machine Id if they didn't have a record of payment.

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  #5 (permalink)
 MWinfrey 
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, 3,328 received

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.

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  #6 (permalink)
 blackout23 
Europe/Germany
 
Experience: Advanced
Platform: NT
Trading: EUR/USD
 
Posts: 9 since Apr 2012
Thanks: 11 given, 7 received

That one special indicator isn't going to make you profitable on its own anyway.

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  #7 (permalink)
 wldman 
Market Wizard
Chicago Illinois USA
 
Experience: Advanced
Broker: IB, ToS
Trading: /ES, US Equities/Options
 
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Posts: 3,358 since Aug 2011
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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.

An indicator that you posted is central to a primary method that I use everyday. I've often thought about how I could leverage the talents of others especially in areas where I have no experience.

There are a couple ways:

We could collaborate or work together in a mutually beneficial way but the problem with that is sometimes the colaboraters do not share the same values or opinions about how math should be used to generate a specific graphical display...they have different ideas about time frame or risk reward for example. So a weakness of this approach is that I want what I want, to suit my hallucination. That might be different from your interest, need or desire.

I could ask you to help me by donating your time and specific skills to a project that is important to me in a way that suits my needs, but beyond a certain level this creates a parasitic relationship and one that nobody should be interested in cultivating.

I could contract with you, as you suggest, for a specific well defined project or need. You could "quote" that as a programming job and require that the parameters be specific and complete prior to starting work. You could communicate the level of future support or revision to be included prior to starting work. That last way is really the best for both parties. Here is the thing. As members here we are guests in Big Mike's domain. We are connected because of him. I'm not sure that he wants members transacting business on his site. What we do privately is our business.

I've often felt that I should ask guys for their pay pal account so that I can make a contribution due to the value they have provided for me. That includes you, Mike and a few others. But, I do think that we want to maintain the public non commercial nature of futures.io (formerly BMT). So maybe the best answer is to use PM to exchange other contact information and communicate outside of futures.io (formerly BMT).

Curious for the opinion of Mike and other members on this issue. DB

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. https://www.greatlakeslabrescue.org/index.html Thank you for the value and the tremendous effort you make to benefit others with futures.io (formerly BMT).

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  #8 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
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Posts: 50,151 since Jun 2009
Thanks: 32,659 given, 99,119 received


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).

Very kind of you, thank you.

Labs are simply the best.

Mike

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  #9 (permalink)
 ThatManFromTexas 
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
 
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Posts: 2,302 since Feb 2010
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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.



I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #10 (permalink)
 Sunil P 
los angeles
 
Experience: Intermediate
Platform: nt
Trading: cl
 
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Posts: 292 since Jan 2012


nothing to the chaps above, but WE all suffer from a disease,I do myself for many years and still havent recovered.

OCI : Obsessive compulsive indicatoritis.

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