I realize that there was a thread on this company a few years ago, which was closed by Big Mike and I aplogize if I am breaking protocol here. I am hoping some members/subscribers who have been with BPT would be able to give genuine feedback on the last few months or possibly years, as the previous thread was short.
Tried to find out more about BPT via google etc and had no luck. I notice it was on Ninja's educator list a few years ago, via a video presentation they gave there, but are no longer on that list.
I am NOT so interested in their manual trading as I live in Australia and the trading hours for US futures would kill me. Hence: Does anyone have any experience with their auto trader system? Is it a reputable company with a quality auto trading product? Do they offer quality support? They claim that each instrument they run on Auto, has been optimized and so no tweaks are needed. Is that so or does the thing blow up 12 months down the track? Are number of trades excessive so that any profits get eaten up by brokerage fees?
I am aware that autotrading systems are to be approached with great caution. I also know that others, like KJ Trading systems have a great reputation.
Thanks for your feedback
The following user says Thank You to sienna for this post:
If you had a mechanical system that was so good it could just run on auto pilot, the why would you bundle it up and sell it to retail punters? When you could scale it up yourself and makes billions
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
The following 3 users say Thank You to Neo1 for this post:
I barely know enough to be dangerous on this topic but I feel compelled to offer an alternative opinion. KJ Trading Systems sells access to some of his successful algos. So I do not believe vendors selling profitable automated trading systems are ALL crooked conmen. Certainly @kevinkdog is honest and legitimate.
If you look at the equity curves of profitable algo trading systems things become a clearer. For instance, they may trade rarely over the course of a year. After commissions maybe one algo makes 5 to 10k a year. And to do that your account might have to be at least 10k. Don't just dismiss the mental fortitude of holding through a draw down period, some people will exit at the bottom from fear and never see the recovery.
Also, scaling up isn't trivial. Some futures markets don't have the depth to just absorb hige size. You would start not getting filled on orders. I guess a profitable ES algo would be much easier to scale, but a lot of the profitable systems people design, like those who have take KJ Trading Systems course, are on thinner markets like Gold.
I have no idea if the vendor the OP was inquiring about is reputable. What I can say with some confidence is that selling a profitable automated trading system does not instantly make you a scammer.
The following user says Thank You to DrRumpy for this post:
Look back on the other thread. Recent updates will convince you to stay away from BPT. Stay far away.
Two red flags: all my emails were answered with short misspelled phrases, not even a pretense of friendliness. And their "Free Trial" is a non-refundable $500 that they will apply against your eventual purchase of the $US5000 suite of products.
Last edited by gdstuart; August 22nd, 2016 at 06:44 PM.
Reason: Additional details.
The following 2 users say Thank You to gdstuart for this post:
do only few beginners have some doubts on this system?
I recently listend to a webinar from BestPro. Their ... system (it is not exactly clear to me what their offer is) was exhibiting a market analyzer window monitoring several, live and all profitable, positions on different futures, (see for ex this short video https://www.youtube.com/watch?v=WXXiQulS3CA of last week). First glance it looks great. but... I am not really convinced ... it can be that easy!
Is there anyone here with intermediate/advanced experience hwo has been using this system and who would recommend it?
Or has this software been used so far only by beginners (as I consider myself).