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Best Pro Trade - Is it a reputable company?


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Best Pro Trade - Is it a reputable company?

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  #1 (permalink)
 sienna 
Melbourne, Australia
 
Experience: Beginner
Platform: Ninja Trader
Broker: Ninjatrader Brokerage
Trading: Many
 
Posts: 141 since May 2012
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I realize that there was a thread on this company a few years ago, which was closed by Big Mike and I aplogize if I am breaking protocol here. I am hoping some members/subscribers who have been with BPT would be able to give genuine feedback on the last few months or possibly years, as the previous thread was short.

Tried to find out more about BPT via google etc and had no luck. I notice it was on Ninja's educator list a few years ago, via a video presentation they gave there, but are no longer on that list.

I am NOT so interested in their manual trading as I live in Australia and the trading hours for US futures would kill me. Hence: Does anyone have any experience with their auto trader system? Is it a reputable company with a quality auto trading product? Do they offer quality support? They claim that each instrument they run on Auto, has been optimized and so no tweaks are needed. Is that so or does the thing blow up 12 months down the track? Are number of trades excessive so that any profits get eaten up by brokerage fees?

I am aware that autotrading systems are to be approached with great caution. I also know that others, like KJ Trading systems have a great reputation.

Thanks for your feedback

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  #3 (permalink)
 Neo1 
Christchurch, New Zealand
 
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sienna View Post
I realize that there was a thread on this company a few years ago, which was closed by Big Mike and I aplogize if I am breaking protocol here. I am hoping some members/subscribers who have been with BPT would be able to give genuine feedback on the last few months or possibly years, as the previous thread was short.

Tried to find out more about BPT via google etc and had no luck. I notice it was on Ninja's educator list a few years ago, via a video presentation they gave there, but are no longer on that list.

I am NOT so interested in their manual trading as I live in Australia and the trading hours for US futures would kill me. Hence: Does anyone have any experience with their auto trader system? Is it a reputable company with a quality auto trading product? Do they offer quality support? They claim that each instrument they run on Auto, has been optimized and so no tweaks are needed. Is that so or does the thing blow up 12 months down the track? Are number of trades excessive so that any profits get eaten up by brokerage fees?

I am aware that autotrading systems are to be approached with great caution. I also know that others, like KJ Trading systems have a great reputation.

Thanks for your feedback

Scam = 99%

If you had a mechanical system that was so good it could just run on auto pilot, the why would you bundle it up and sell it to retail punters? When you could scale it up yourself and makes billions

"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
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  #4 (permalink)
 DrRumpy 
Canada
 
Experience: Beginner
Platform: MetaTrader
Trading: Currency
 
Posts: 45 since May 2014
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I barely know enough to be dangerous on this topic but I feel compelled to offer an alternative opinion. KJ Trading Systems sells access to some of his successful algos. So I do not believe vendors selling profitable automated trading systems are ALL crooked conmen. Certainly @kevinkdog is honest and legitimate.

If you look at the equity curves of profitable algo trading systems things become a clearer. For instance, they may trade rarely over the course of a year. After commissions maybe one algo makes 5 to 10k a year. And to do that your account might have to be at least 10k. Don't just dismiss the mental fortitude of holding through a draw down period, some people will exit at the bottom from fear and never see the recovery.

Also, scaling up isn't trivial. Some futures markets don't have the depth to just absorb hige size. You would start not getting filled on orders. I guess a profitable ES algo would be much easier to scale, but a lot of the profitable systems people design, like those who have take KJ Trading Systems course, are on thinner markets like Gold.

I have no idea if the vendor the OP was inquiring about is reputable. What I can say with some confidence is that selling a profitable automated trading system does not instantly make you a scammer.

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  #5 (permalink)
 tamerrashdan 
New York
 
Experience: Beginner
Platform: NT
Broker: AMP/CQG
Trading: ES
 
Posts: 125 since Oct 2011
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Stay away
I wasted $2000 and when I realized their scam, Sam refused to refund any money
The only money they make is your subscription fee



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  #6 (permalink)
 gdstuart 
Hammonton NJ
 
Experience: Beginner
Platform: NinjaTrader
Broker: NT Continuum
Trading: Indexes (Indices?)
 
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sienna View Post
I realize that there was a thread on this company a few years ago, which was closed by Big Mike and I aplogize if I am breaking protocol here. I am hoping some members/subscribers who have been with BPT would be able to give genuine feedback on the last few months or possibly years, as the previous thread was short.

Tried to find out more about BPT via google etc and had no luck. I notice it was on Ninja's educator list a few years ago, via a video presentation they gave there, but are no longer on that list.

I am NOT so interested in their manual trading as I live in Australia and the trading hours for US futures would kill me. Hence: Does anyone have any experience with their auto trader system? Is it a reputable company with a quality auto trading product? Do they offer quality support? They claim that each instrument they run on Auto, has been optimized and so no tweaks are needed. Is that so or does the thing blow up 12 months down the track? Are number of trades excessive so that any profits get eaten up by brokerage fees?

I am aware that autotrading systems are to be approached with great caution. I also know that others, like KJ Trading systems have a great reputation.

Thanks for your feedback

Look back on the other thread. Recent updates will convince you to stay away from BPT. Stay far away.

Two red flags: all my emails were answered with short misspelled phrases, not even a pretense of friendliness. And their "Free Trial" is a non-refundable $500 that they will apply against your eventual purchase of the $US5000 suite of products.

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  #7 (permalink)
 tamerrashdan 
New York
 
Experience: Beginner
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Broker: AMP/CQG
Trading: ES
 
Posts: 125 since Oct 2011
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gdstuart View Post
Look back on the other thread. Recent updates will convince you to stay away from BPT. Stay far away.

Stay away
Save your money

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  #8 (permalink)
 guidoisot 
Milan, Italy
 
Experience: Beginner
Platform: NinjaTrader, TWS
Trading: ES, Stocks
 
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I recently listend to a webinar from BestPro. Their ... system (it is not exactly clear to me what their offer is) was exhibiting a market analyzer window monitoring several, live and all profitable, positions on different futures, (see for ex this short video
of last week). First glance it looks great. but... I am not really convinced ... it can be that easy!
Is there anyone here with intermediate/advanced experience hwo has been using this system and who would recommend it?
Or has this software been used so far only by beginners (as I consider myself).
thanks.

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  #9 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
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Posts: 2,135 since Jul 2011
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"The company maintains a web address at 12TradePro.Com, however the company currently prefers the name “Best Pro Trade”."

http://www.tradingschools.org/reviews/12tradepro-com/

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  #10 (permalink)
 tamerrashdan 
New York
 
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Broker: AMP/CQG
Trading: ES
 
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  #11 (permalink)
wintergasp
London, UK
 
 
Posts: 29 since Sep 2016
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Neo1 View Post
Scam = 99%

If you had a mechanical system that was so good it could just run on auto pilot, the why would you bundle it up and sell it to retail punters? When you could scale it up yourself and makes billions

This is true. I've been working in hedge funds for 8 years now and I can tell you we would never, ever give anything out, even for 1m$. At some stage we had interns look at those 5k-10k$ trading algos and I don't think we've ever found anything worth digging into, let alone trading live.

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  #12 (permalink)
 swhiii 
Houston
 
Experience: Advanced
Platform: NinjaTrader
Broker: AMP Futures, FXCM, Mirus
Trading: Forex
 
Posts: 6 since Jun 2011
Thanks: 1 given, 3 received

I still use it. It works well. Many parameters to use for optimizing the system. You need to know how to optimize the system using NinjaTraders back testing, or you're flying in the dark. Lots of flexibility to set your own parameters. A very advanced system!

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  #13 (permalink)
 swhiii 
Houston
 
Experience: Advanced
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BPT is no scam. It is a real trading system. The indicators are top notch. They work perfectly. I see people who lose money trading and blame the broker, the indicators, autotrade systems, they don't know how to work, etc., but never take blame themselves. Trading is not for amatures. People buy many systems, over margin, etc., then blame the system they are using. Man up and take responsibility for your own trading. BPT supplies good tools for traders. He clearly put a lot of time and money developing them. How you use them and the parameters you set, is up to you. Most complainers have never optimized a trading system before. They just turn it on, over margin, and gamble instead of trading. I was a commodities broker in 1989 and have been trading ever since. If you don't understand market liquidity, margins, and setting stops, don't even attempt trading. I use about 4 trading system indicators. BPT has some I like, no one else has, so I use them. To say "if they worked, he would never sell them" is BS. Everyone sells MACD's and they work. Investment advisors make lots of money for their clients, and they don't trade only their own money. Almost every autotrade system has an infinite number of variables you can set. You must keep tweeking them. One setting will never work forever. One may work on an expending market, another on a contracting market, etc. I also have proprietary system with source codes I purchased, but I have never sold trading software. When I bought it, about 300 people had lifetime licenses they purchased, so I allow them to continue to use it at no charge through server authentication. I just trade for myself now, and do pretty well. It was an expensive education, as most traders will tell you. Thought of the day: Make 10% per day trading, and you can turn a $5,000 account into over $20 million in 90 days. Easier said than done, though! Lol That's the allure of trading.

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  #14 (permalink)
 barabas 
Chicago IL USA
 
Experience: Intermediate
Platform: Tradestation
Broker: Tradestation
Trading: ES,NQ, CL
 
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swhiii View Post
BPT is no scam. It is a real trading system. The indicators are top notch. They work perfectly. I see people who lose money trading and blame the broker, the indicators, autotrade systems, they don't know how to work, etc., but never take blame themselves. Trading is not for amatures. People buy many systems, over margin, etc., then blame the system they are using. Man up and take responsibility for your own trading. BPT supplies good tools for traders. He clearly put a lot of time and money developing them. How you use them and the parameters you set, is up to you. Most complainers have never optimized a trading system before. They just turn it on, over margin, and gamble instead of trading. I was a commodities broker in 1989 and have been trading ever since. If you don't understand market liquidity, margins, and setting stops, don't even attempt trading. I use about 4 trading system indicators. BPT has some I like, no one else has, so I use them. To say "if they worked, he would never sell them" is BS. Everyone sells MACD's and they work. Investment advisors make lots of money for their clients, and they don't trade only their own money. Almost every autotrade system has an infinite number of variables you can set. You must keep tweeking them. One setting will never work forever. One may work on an expending market, another on a contracting market, etc. I also have proprietary system with source codes I purchased, but I have never sold trading software. When I bought it, about 300 people had lifetime licenses they purchased, so I allow them to continue to use it at no charge through server authentication. I just trade for myself now, and do pretty well. It was an expensive education, as most traders will tell you. Thought of the day: Make 10% per day trading, and you can turn a $5,000 account into over $20 million in 90 days. Easier said than done, though! Lol That's the allure of trading.

any proof to back this up?

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