Your feedback on these third-party automated trading systems
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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.
The following 2 users say Thank You to dk27 for this post:
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.
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.
The following user says Thank You to phantomtrader for this post:
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.
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.
The following user says Thank You to Bobo for this post:
