Does anyone have any experience with XBot or any similar auto-traders that you rent out?
Im interested in seeing how it works in Sim for a few months, I,d also like to have a few different auto traders running and possibly make my own by the end of the year. This one has peaked my interest but havnt heard anyone talking about it in here. not sure if i can post link but a simple google will get you there.
I am always suspect of people selling or renting AT. A good AT is almost like a license to print money so why would anyone want to give that kind of edge to anyone who will pay? In my mind reason must be an edge does not exist thus no profit so they try to make money selling it. I have been to a few trading conventions and I was always amazed and some of the vendors claims about how much you could make if you bought their product. My question was always if this will do what you claim why are you standing in front of a booth all day trying to sell it?
These comments are not directed at this vendor in particular but anyone selling a money machine.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
Of course always remain skeptical and donyour own testing. I'm back testing his updated version he emailed to me on about 90 days of replay data it's at plus 5K. Just need to get more data (possibly have to pay for it) so I can test it over a year or two. I am new to all of this, what is a good rule of thumb on a backtest, how far back do you need to go before forward testing and how much forward testing on sim before live. ( not just for this vendor but in general for any automated system)
Beware: revisions to strategies may reflect fine tuning aka curve fitting that produces great historical results based on recent historical data, but fail in walk forward testing (realtime).
You should backtest at least a year and walk forward for a minimum of 6 months before getting too excited about results. Especially with this vendor who posted monthly results that weren't close to footing with mine. I also forgot to mention that, when I asked his preferred broker if auto trade customer results were close to those posted on the website, his comment was effectively, "no comment." "You need to speak to DPaul abut that" he said. Not very comforting.
The following user says Thank You to SarahKrantz for this post: