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Your feedback on these third-party automated trading systems


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Your feedback on these third-party automated trading systems

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  #1 (permalink)
Lima + Peru
 
 
Posts: 15 since Aug 2018
Thanks: 7 given, 56 received

Hello folks,

I want to explore third-party automated trading systems and I would like to know your feedback before I decide to pay such large startup cost.

I have realized that Intraday Futures Vendors are quite expensive but, as you know, more expensive would be to select a firm that is selling smoke.


First, I am looking for a VPS:



Second, third party strategy that I am researching (order by cost)



Any feedback here will be greatly valuable. I could also share my future steps that can beneficial to all.

If you have other places that provide automatic intraday futures trading I can take a look.

Thanks

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  #3 (permalink)
Europe
 
Experience: Intermediate
Platform: NT, IB
Broker: IQfeed, IB
Trading: ES
 
Posts: 158 since Jun 2009
Thanks: 188 given, 123 received


Shark indicators are tools, not system, trade the plan not automated sytem and Vinny is scam. I remember I went through Rios sales pitch where he was selling renamed floor pivots and dynamic support resistance lines for 2000$, thats a big red flag, no idea about his auto sytem though.


luiscristhian97 View Post
Hello folks,

I want to explore third-party automated trading systems and I would like to know your feedback before I decide to pay such large startup cost.

I have realized that Intraday Futures Vendors are quite expensive but, as you know, more expensive would be to select a firm that is selling smoke.


First, I am looking for a VPS:



Second, third party strategy that I am researching (order by cost)



Any feedback here will be greatly valuable. I could also share my future steps that can beneficial to all.

If you have other places that provide automatic intraday futures trading I can take a look.

Thanks


Reply With Quote
The following 2 users say Thank You to dk27 for this post:
 
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  #4 (permalink)
PERU/CALLAO
 
Experience: Advanced
Platform: Various
Broker: Various - (MC, CQG, IQFeed, IB)
Trading: US Futures and Equities, US Options, ETFs, Commodities, EUR/USD
 
Minds's Avatar
 
Posts: 82 since May 2013
Thanks: 56 given, 34 received

Rios is posting a trackrecord on RiosQuant Performance Strategy Review

I cant say much about the others...

@dk27 thanks for your feedback regading scams - can you give more info?


dk27 View Post
Shark indicators are tools, not system, trade the plan not automated sytem and Vinny is scam. I remember I went through Rios sales pitch where he was selling renamed floor pivots and dynamic support resistance lines for 2000$, thats a big red flag, no idea about his auto sytem though.


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  #5 (permalink)
Lima + Peru
 
 
Posts: 15 since Aug 2018
Thanks: 7 given, 56 received


Minds View Post
Rios is posting a trackrecord on RiosQuant Performance Strategy Review

I cant say much about the others...

@dk27 thanks for your feedback regading scams - can you give more info?

Hi Minds, I saw your quote regarding newsletters in the other question.

Dk27, yea could you please give us more information about them? Thanks!!

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  #6 (permalink)
PERU/CALLAO
 
Experience: Advanced
Platform: Various
Broker: Various - (MC, CQG, IQFeed, IB)
Trading: US Futures and Equities, US Options, ETFs, Commodities, EUR/USD
 
Minds's Avatar
 
Posts: 82 since May 2013
Thanks: 56 given, 34 received

Thanks @dk27

I was reading a post about your comments. Thanks







dk27 View Post
Shark indicators are tools, not system, trade the plan not automated sytem and Vinny is scam. I remember I went through Rios sales pitch where he was selling renamed floor pivots and dynamic support resistance lines for 2000$, thats a big red flag, no idea about his auto sytem though.


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  #7 (permalink)
Europe
 
Experience: Intermediate
Platform: NT, IB
Broker: IQfeed, IB
Trading: ES
 
Posts: 158 since Jun 2009
Thanks: 188 given, 123 received

Not only that, he also faked his affilation with futures.io in his youtube channel, there is thread about it somewhere.


Minds View Post
Thanks @dk27

I was reading a post about your comments. Thanks



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  #8 (permalink)
Reno, Nevada
 
Experience: Advanced
Platform: NinjaTrader
Trading: ZN, ZB, CL
 
phantomtrader's Avatar
 
Posts: 356 since May 2011
Thanks: 103 given, 613 received

There's a video from Stage Five which features iSystems - exclusively automated systems.



On the ones that you posted, I would suggest that you try to reverse engineer some of their charts and indicators - I think all those indicators are available right here at Futures.io. I'm not suggesting that there's anything bad about these vendors (I don't know any of them). However, it's worthwhile trying to setup what they're doing on your own platform and see if you can figure out whether there's something interesting there for your style of trading. For instance, the Ichimoku setup is fairly straight forward. Setup a chart and analyze the trades they are taking.

As for mentors, there's a thread here by Big Mike which is worth reading:

Mentors are fine - just remember that it's you who will do all the heavy lifting - which means a lot of screen time, research and development of your own trading setups and style.

You'll learn a lot by reverse engineering interesting trade setups. I do it all the time when I come across traders who post charts and trades. This business is a problem solving game. No one has a perfect holy grail. But there are people who are good at what they do and it's certainly worthwhile to study them.

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  #9 (permalink)
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
Platform: Trading Technologies
Broker: Primary Advantage Futures. Also ED&F and Tradestation
Trading: Primarily Energy but also a little GE, GC, SI & Bitcoin
 
Posts: 3,966 since Dec 2013
Thanks: 3,258 given, 7,770 received


luiscristhian97 View Post
First, I am looking for a VPS:

Most likely I will go with the option of 80USD/month for a Chicago server with https://www.speedytradingservers.com/

There's lots of options out there that range from the very cheap to super expensive (co-located dedicated servers). I don't know Sam (aka speedy traders) personally but am impressed with all his posts here and other places and know others that have very good things to say about him.

luiscristhian97 View Post
Second, third party strategy that I am researching (order by cost)

Kevin Davey has a great book and one day course that would probably be a much better use of your hard earned money
@kevinkdog

https://kjtradingsystems.com/

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  #10 (permalink)
Tampa, FL, USA
 
 
Posts: 28 since Jul 2013
Thanks: 2 given, 18 received


Based on many pro traders opinion you can read online, Automated Trading Systems (ATS), also referred as Algorithmic Trading, for sale or lease, are not reliable.

Having an ATS on your computer is a potential disaster if something happens with your PC, DSL, electricity, broker connection, etc. and markets are moving fast because of unexpected situations.
An ATS should be handled for you by a broker.

Experts are telling that a profitable system in all market conditions will cost millions.

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The following user says Thank You to Bobo for this post:
 
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  #11 (permalink)
Dallas, TX
 
Experience: Intermediate
Platform: TradeStation/Sierra Chart
Broker: Tradestation
Trading: ES
 
ChrisTinaBruce's Avatar
 
Posts: 66 since Oct 2012
Thanks: 43 given, 32 received


luiscristhian97 View Post
Hello folks,



I want to explore third-party automated trading systems and I would like to know your feedback before I decide to pay such large startup cost.



I have realized that Intraday Futures Vendors are quite expensive but, as you know, more expensive would be to select a firm that is selling smoke.





First, I am looking for a VPS:









Second, third party strategy that I am researching (order by cost)









Any feedback here will be greatly valuable. I could also share my future steps that can beneficial to all.



If you have other places that provide automatic intraday futures trading I can take a look.



Thanks



If you need a VPS (SpeedyTradingServers) is a great service and the owner truly goes the extra mile.

As for the strategy/services I suggest first invest in yourself in learning how to trade. There is no Holy Grail.

The majority of successful and experienced traders all have stories of searching for the ultimate indicator or strategy. In the end the journey exposed its about psychological, risk management, and developing your own edge.

As with most successful people in any occupation the failure along the path lead to your own edge. My suggestion is develop a complete understanding of the markets basis (volume and price) as ever indicator is based on these two.

I wish well on your exploration and only recommending advice I wish I had followed.


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The following 3 users say Thank You to ChrisTinaBruce for this post:
 
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  #12 (permalink)
Legendary Market Wizard
Houston, TX
 
Experience: Advanced
Platform: Trading Technologies
Broker: Primary Advantage Futures. Also ED&F and Tradestation
Trading: Primarily Energy but also a little GE, GC, SI & Bitcoin
 
Posts: 3,966 since Dec 2013
Thanks: 3,258 given, 7,770 received


Bobo View Post
Based on many pro traders opinion you can read online, Automated Trading Systems (ATS), also referred as Algorithmic Trading, for sale or lease, are not reliable.

Having an ATS on your computer is a potential disaster if something happens with your PC, DSL, electricity, broker connection, etc. and markets are moving fast because of unexpected situations.
An ATS should be handled for you by a broker.

Experts are telling that a profitable system in all market conditions will cost millions.

That's a broad a brush stroke as you could possibly make. Next you'll be telling us that every single trader loses money as well.

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