a few pages of computer code into an endless stream of money?

Dear Friends,

Do you agree the following statement?

".......a few pages of computer code into an endless stream of money. People who pay for automatic trading systems are like medieval knights who paid alchemists for the secret of turning base metals into gold." (p.15, Trading for a Living by Dr. Alexander Elder)

What is your opinion for above statement?

Thanks for your sharing :-)

Buying such systems is rubbish. Buy better the book "How earn a million dollars"

That's why it pays to be an alchemist, ask any quant....

An EA that makes >15% ROI/yr consistently is worth millions of dollars. If you own 1billion and there was a way you could make 15% ROI without effort each year, you should be paying big buck for that EA... literally in the millions. Don't expect such a system to be offered publicly, if it exists at all.

Therefor I agree with Elder, paying for automated systems is not the way to 'invest' your money.

is invisible hand considered as automatic trading system?

as for EA, the name may misguide us, ( how can the creator advised by their own creation? a very unreliable name isn't it?)

Ed Seykota anyone?