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Fair price for ATS


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Fair price for ATS

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  #21 (permalink)
United States of America
 
Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009


Silvester17 View Post
just to be on the lower end I took that 1,500 less (vendor's default settings) in consideration. I included commission as well. and by trading 2 contracts, 300 is about 20 %.

this was just a rough calculation. didn't use a calculator.

of course if this system is really consistent and you can trade 5 or 10 contracts, 300 a month is really cheap.

I agree until the word gets out and the edge evaporates because too many contracts are chasing it.

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  #22 (permalink)
Market Wizard
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sharky View Post
but........................................... as i have never seen a strat work good over a period of time and i know several programmers that have spent years working on strats including our on mike then i would have to agree with him on this one...sharky

how long is over a period of time? if it's lets say 5 month. by your examples using 20 cars = 90,000.

of course that's just me not using a calculator again.

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  #23 (permalink)
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sharky View Post
but........................................... as i have never seen a strat work good over a period of time and i know several programmers that have spent years working on strats including our on mike then i would have to agree with him on this one...sharky

There is no long term commitment. You can cancel at any time. Does that change your thinking?

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  #24 (permalink)
Market Wizard
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Zoethecus View Post
I agree until the word gets out and the edge evaporates because too many contracts are chasing it.

yes... just another reason not to name the vendor.

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  #25 (permalink)
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Big Mike View Post
Personally I would pay $0 for it.

Mike

Thank you for your response. I'll consider it an outlier and not part of the study.

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  #26 (permalink)
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Zoethecus View Post
That's an idea for sure. Fortunately, this trades ES so you could plow a lot without diluting the edge.

So, Mike, what would this be worth to you if you felt the results could continue in a similar fashion?

I feel that the results will not continue. My opinion is traders should not pursue automation as a means to be successful in trading. Too many are lured in by false hopes and cherry picked charts. Too many believe just because a strategy made $900 a month in the past means it will in the future. Few understand backtesting and curve fitting. Fewer still understand proper forward testing. In the end, most people I've met that pursue automation do so because they are either lazy or foolish ("I just want a strategy that can earn $1,000 a month with low risk"), or are trying to find a short cut for their own pitfalls in their own discretionary trading (ie: failure to take responsibility for their actions, wanting to place blame elsewhere).

No need for me to say more.

Mike

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  #27 (permalink)
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Zoethecus View Post
Thank you for your response. I'll consider it an outlier and not part of the study.

LOL, OK. Interesting testing methodology to not consider results you don't like, I'm not sure why else you would throw my result out

Last, I believe you failed to mention some important considerations on determining a price. How long as this vendor been in business? How many prior strategies has he produced that have a proven track record? What is his reputation like? These should weigh heavily in anyones decision in determining a fair value if they decide they are willing to pay more than $0 for it.

Mike

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  #28 (permalink)
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Silvester17 View Post
yes... just another reason not to name the vendor.

I have no allegiance to the vendor. If I get a decent response from this large community-- a good random sample--I'll disclose the information.

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  #29 (permalink)
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Big Mike View Post
LOL, OK. Interesting testing methodology to not consider results you don't like, I'm not sure why else you would throw my result out

Mike

I believe your response is based on a bias you have from past experiences with your own failed ATS. If you can put that behind you or explain why this is worth $0, then I'll revist.

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  #30 (permalink)
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Big Mike View Post
LOL, OK. Interesting testing methodology to not consider results you don't like, I'm not sure why else you would throw my result out

Last, I believe you failed to mention some important considerations on determining a price. How long as this vendor been in business? How many prior strategies has he produced that have a proven track record? What is his reputation like? These should weigh heavily in anyones decision in determining a fair value if they decide they are willing to pay more than $0 for it.

Mike

The posted results speak for themselves. The decision must be made from this, nothing more. Again, thank you for the response.

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October 21, 2010


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