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Looking for advice: let's say I had a great system, do publishers buy them anymore?


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Looking for advice: let's say I had a great system, do publishers buy them anymore?

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  #1 (permalink)
thoughtful
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Hi, can anyone advise me about the publishing industry ... I'm wondering if I could write a system book/manual (and maybe also a video) and get a publisher to publish it, and buy some advance copies from me -- I'm not looking for alot of money, I'm actually willing to sell out below market value. Lets just say it's the best system in the entire world, and it's better than anything anyone has ever seen before. I know you're laughing, but just hypothetically if I could impress a publisher that it's a really great system, are there any publishers that are looking for a great system to publish anymore? I know they used to do that in the 1990's, but are system books a dead industry or do they still sell them? I can just use the system myself obviously, but I'm just currently swamped with charity projects for the rest of the year, and I'd be interested in selling my system if it were possible. But I don't know where to start looking for a publisher, and I don't know how the whole process works. So I'm looking for any advice.

My system involves some computer code that I wrote. It's not exactly what I gave out for free recently called Trend Tracker. It's an updated version, and the system info / instructions contain alot more info too. Sure, anyone else could figure it out, but no-one has yet, so I'm just wondering if there's any chance of making any money selling a system nowadays. I know there are trainers out there, but I don't have the time to personally train people, although I could answer questions via email.

Most books out there seem to be just fluff, or just general stuff, like introductions for beginners, or lots of pages about candlesticks (which IMO don't work), or just general "lessons" or "tips" from supposed pros. But none of those tell you how to buy low and sell high. I'm talking about a system book that is an actual system that works. Is anyone interested in those anymore?

System selling is a paradox because if you just trade it yourself, you don't need to sell it for money, but if you don't have a big track record and $millions of dollars yet, then no-one wants to listen to you. So, the best system in the world may just end up rotting in a landfill sitting on my computer's hard drive after I pass away someday. I'm probably going to just give it away for free, but I figure'd I'd look into the possibility of selling it to a publisher first since I could use the money right now.

Thanks for any advice.

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  #2 (permalink)
 matthew28 
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I would have thought in this day and age you self publish. As in you create a decent website to sell the system from, and journal the results on there using a results platform that can't be rigged, such as Jigsaw Journalytix which has a publicly visible leader board and trades can't be added manually or amended and it differentiates between sim and real accounts. I am sure there are other similar products, I just use the Jigsaw one as an example because I am aware of that one. Create an e-book to sell with the system, show a few videos on a professional looking site and job done.
I would say create a journal here, but if you were selling the system then you would need to register with Mike as a vendor and then you wouldn't be able to do a journal.

You say you have a system that works (makes money presumably), you just have to prove it and it will sell itself if people see positive results. Trying to get published could be a very long road and only result in very few book sales in comparison to page hits on a website leading to system sales and positive reviews on respected trading sites.

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  #3 (permalink)
 bobwest 
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matthew28 View Post
I would have thought in this day and age you self publish.

...

I would say create a journal here, but if you were selling the system then you would need to register with Mike as a vendor and then you wouldn't be able to do a journal.

You say you have a system that works (makes money presumably), you just have to prove it and it will sell itself if people see positive results. Trying to get published could be a very long road and only result in very few book sales in comparison to page hits on a website leading to system sales and positive reviews on respected trading sites.

I'd say this is probably right. Some extremely lousy systems get sold regularly online. The downside is that selling them is largely a matter of marketing, which involves time and active work and a knowledge of how to do it. (Also, overpromising helps. ) And while a good system should "sell itself," I think that actually selling anything is hard work, in reality.

And just so you know, you wouldn't be able to do anything on this site to promote it, or even mention it, if you had anything set up online or otherwise to actually sell it. Sorry, but I had to put that in there.

Bob.

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  #4 (permalink)
 kevinkdog   is a Vendor
 
 
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PM sent, I will say trying to make money purely from a book, especially a trading book, is a pipedream.

I remember a publisher crowing about how Alexander Elder was able to pay college tuition for one of his kids from book royalties. This was back when college tuition was $5-10K per year. And he was considered a trading book hero.

Purely anecdotal, I realize, but generally a couple of dollars a book works well for James Patterson, but not for niche writers.

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 WoodyFox 
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kevinkdog View Post
PM sent, I will say trying to make money purely from a book, especially a trading book, is a pipedream.

I remember a publisher crowing about how Alexander Elder was able to pay college tuition for one of his kids from book royalties. This was back when college tuition was $5-10K per year. And he was considered a trading book hero.

Purely anecdotal, I realize, but generally a couple of dollars a book works well for James Patterson, but not for niche writers.



PM sent...Have not seen or argued about this before?

I simple hate this practice by vendors.

Starting a private conversation and possibly jeopardizing the involvement and or solutions from the OP. I seen this kill threads.

I still think this goes against the greatness of Futures.io.

Respected vendors or not... and like I've said before, I respect this vendor and agree an like a lot of his work, but passes shouldn't be given.

JMHO

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  #6 (permalink)
 kevinkdog   is a Vendor
 
 
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WoodyFox View Post
PM sent...Have not seen or argued about this before?

I simple hate this practice by vendors.

Starting a private conversation and possibly jeopardizing the involvement and or solutions from the OP. I seen this kill threads.

I still think this goes against the greatness of Futures.io.

Respected vendors or not... and like I've said before, I respect this vendor and agree an like a lot of his work, but passes shouldn't be given.

JMHO

PLEASE just put me on ignore.



FYI Here is what the PM said:

"I can definitely give you some advice on your options.

Kevin"


I did it via PM because I'd probably talk specifics of book author royalties, terms, etc. Not really appropriate for public consumption, as some of it is info publishers would not want publicly disclosed.

If I really wanted to be shady, I would not have announced "I sent PM" to everyone. I have absolutely nothing to hide.

If Bob or Mike think my reply should be deleted, they will do so.


Just put me on ignore, that will solve whatever longstanding issues you have with me.

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  #7 (permalink)
 WoodyFox 
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kevinkdog View Post
PLEASE just put me on ignore.



FYI Here is what the PM said:

"I can definitely give you some advice on your options.

Kevin"


I did it via PM because I'd probably talk specifics of book author royalties, terms, etc. Not really appropriate for public consumption, as some of it is info publishers would not want publicly disclosed.

If I really wanted to be shady, I would not have announced "I sent PM" to everyone. I have absolutely nothing to hide.

If Bob or Mike think my reply should be deleted, they will do so.


Just put me on ignore, that will solve whatever longstanding issues you have with me.

Last time it was you knew them, now it about royalties?

Can't you just keep it in the thread is all I'm asking.

I really love Futures.io and would like to keep it the way it is. I believe its been said that its expected for things to be discussed within the threads and sidebars using PM's should be avoided if possible.

I agree with this... and believe the PM Feature is nice but it can kill threads and you seem to really like it.

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  #8 (permalink)
 bobwest 
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@kevinkdog, @WoodyFox,

I don't see that there is anything for the mods to step in for.

Yes, it is true that vendors may send private messages to members solely in order to try to solicit them. But it is also true that that they may not. Until and unless the recipient of the message reports it to us, there is no conclusion for us to draw and no action for us to take, except in the most unusual circumstances.

Everyone, please remember that if you think you have seen something wrong being done, please report it to the mods using the Report feature in every post (the octagonal icon with the exclamation point in the top right corner, or the "Report this Post" in the dropdown from the poster's name) -- do not take it upon yourselves to police the forum, and do not start an argument with another user to stop them.

As to whether it is best to keep discussions in the open forum, as a rule it is, and if it pertains to the subject of the thread and if it might be of value to general readers, it is more to be preferred. In this case, it might have been more contributory to have said in the thread something like "I have experience with publishers and can give you some pointers," or whatever. It might have been of general interest to add to the thread in this way.

But every member of futures.io has the ability to send a DM (as we're calling it now ), and sometimes a member might prefer to -- and not necessarily for underhanded reasons.

I recognize that there have been issues between you in the past. I would ask you both to set those aside, and attend to the issues of the thread. And if you feel there is something that needs attention in the future, just raise it with the mods and let us do our jobs.

Thanks.

Bob.

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  #9 (permalink)
 kevinkdog   is a Vendor
 
 
Posts: 3,096 since Jul 2012
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I have experience with publishers and can give you some pointers.

I have both had a publisher for a book and also self published 4 books through Amazon. There are pros and cons to each approach.

I have never heard of a publisher buying books from the author, usually it is the other way around if anything. Traditional book publishers like authors with established fan bases.

My big pointer for you: figure out what you REALLY want out of this project (is it money, recognition, fame, etc). Do you want to produce a course, a book, an online class, weekend seminars? How much time and effort are you willing to expend to make this a reality?

The best route to take will depend on your answers.

Hope this helps a bit.


Edit: Sorry if response is a little light, but many details (contract info, royalty scales, NDAs, etc) can't be openly discussed.

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 Schnook 
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To the original poster's questions - you say you have the greatest system in the world - "better than anything anyone has ever seen" - and you want to sell it because you "could use the money right now"? Please forgive me for pointing out how ridiculous this sounds.

Here's what I would suggest. Trade the system live for 3 months, withdraw some of the massive profits you will have surely made (money issues now solved), then keep trading it live for another three months to build more track record while researching the various online brokerage platforms that lease trading systems to their customers. There are plenty out there. Also, make a few phone calls to independent / prop trading firms. Real ones not this top step trader nonsense.

But honestly the book idea will get you nowhere and I'm still completely flummoxed as to why you would want to practically give away what you claim is such a great trading system.

Oh and before you say you just don't have the time, let me just counter that if you have the time to write a freakin' book, you probably have time to trade a system for a couple of months.

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