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How much do You Pay for a Winner System

  • #61
  • Dec 5, 2006 9:39pm Dec 5, 2006 9:39pm
Quoting aparsai
I agree with you to some extent. If you decide to become a professional trader the chances tha you achieve this goal in a few months or at most a couple of years is very high. However, you've not considered people's priorities, personalities, and many other factors that may stop them from achieving this goal.

The forex market is full of losers. We hear from here and there that over 85% of retail traders are losers. Why do you think I should give up helping these 85%? I can definitely make a descent money because of my services and I do not deny that.

The fact that there are many forex scams out there doesn't convince me that I'm not elligible to help others and make money because of that.

I do not beleive in gigantic growth. None of my systems make you reach instantly. They keep winning and losing but if you stick with them they make you money. Isn't that important? A system that helps you stop losing and start making money.

Many of FF members are either professional trades or are in half-way to success but even about half of these people are willing to pay for a winning system. Please review the poll results and get back to me with your feedback. It would be great if I hear from you and know more about your way of thinking.


Good Luck
But you also said..and i quote

"I prefer to rely on my own tools rather than others. If your signals make money for you, you do not really sell them for a few dollars to others. You either trade them and enjoy or if you want to share them with others you share them for free."
  • #62
  • Dec 5, 2006 9:59pm Dec 5, 2006 9:59pm
Quoting hilmy83
But you also said..and i quote

"I prefer to rely on my own tools rather than others. If your signals make money for you, you do not really sell them for a few dollars to others. You either trade them and enjoy or if you want to share them with others you share them for free."
You are right. I said that before and I'll continue to share many of my stuff with others for FREE. However, the more it goes the more I learn about this market. For example there are some people who prefer to recieve signals that make money, or some people that feel more comfortable with a system if they purchase it. I ignored this group which by the way are probably the majority of forex traders.

I confess that I'm changing but hopefully in a good way. In a way that stays useful for others and himself.
  • #63
  • Dec 7, 2006 3:11pm Dec 7, 2006 3:11pm
I recommend taking donations... I for one would donate quite often with a winning system w/ support and updates.! The more money you make people with the EA the more they are going to donate to keep the project going!
  • #64
  • Dec 7, 2006 4:10pm Dec 7, 2006 4:10pm
Quoting intensedrive
I recommend taking donations... I for one would donate quite often with a winning system w/ support and updates.! The more money you make people with the EA the more they are going to donate to keep the project going!
I have a website that is full of free training material (the website is not focused on Forex). Hudreds of people visit the site everyday. They even use my training material in their classrooms and make money out of that. Once I decided to accept donations to cover the expenses of the web site. After six month I only received $30 from a gentleman in UK. I eventually removed the option and accepted advertisement instead.

My experience says that donations won't work.
  • #65
  • Dec 7, 2006 6:43pm Dec 7, 2006 6:43pm
Quoting aparsai
I have a website that is full of free training material (the website is not focused on Forex). Hudreds of people visit the site everyday. They even use my training material in their classrooms and make money out of that. Once I decided to accept donations to cover the expenses of the web site. After six month I only received $30 from a gentleman in UK. I eventually removed the option and accepted advertisement instead.

My experience says that donations won't work.
may I ask you what your goal is??!?
Are you trying to be a successful trader? or a successful businessman?

Here's my thought on this.

I think you'll be better off making more money trading on your own if your aim is to make more money. To have a profitable system is half the battle. Mastering it takes time. There are COUNTLESS ways you can alter a winning system to fit each market condition. And that requires time and patience. But when you have this trading 'business' on the side, I think it would take away your precious time that you can spend mastering your system.
  • #66
  • Dec 7, 2006 7:42pm Dec 7, 2006 7:42pm
i to have tested your ea with very good results and would consider purchase it if it came to that. but i think there is no substituting for learning how to trade your own way
THEY CAN TAKE MY MONEY BUT THE CAN NEVER TAKE AWAY MY DREAMS.....ZZZZZZZZZZ
  • #67
  • Dec 7, 2006 10:08pm Dec 7, 2006 10:08pm
Quoting hilmy83
may I ask you what your goal is??!?
Are you trying to be a successful trader? or a successful businessman?

Here's my thought on this.

I think you'll be better off making more money trading on your own if your aim is to make more money. To have a profitable system is half the battle. Mastering it takes time. There are COUNTLESS ways you can alter a winning system to fit each market condition. And that requires time and patience. But when you have this trading 'business' on the side, I think it would take away your precious time that you can spend mastering your system.
Talking about focusing... I am working for a company as a full time employee right now. The pay is very good and my life depends on the salary, but the job is far far away from trading. If I manage to replace that full time job with something that is more related to forex, like programming EAs, selling signals, training others, and so on I have a better chance to become a better forex trader. Such activities are a good start point for me to get more involved with forex trading. When I have enough money in my pocket I have the chance to decide whether I want to be a businessman or a full time trader. I can't answer this question right now, because my first priority is to make enough money to convince myself that losing my full time job with all those benefits worths it.

Am I making a correct decision? I still don't know. That's why I keep asking these questions.

Good Luck,
Al
  • #68
  • Dec 7, 2006 10:12pm Dec 7, 2006 10:12pm
Quoting pochie rc
i to have tested your ea with very good results and would consider purchase it if it came to that. but i think there is no substituting for learning how to trade your own way
We belong to the same school of thought my friend. However, there are many people out there that for many different reasons like to pay and receive a reliable readymade service. If you look at the results of the poll you can easily find out that more than half of FF members who cast their vote prefer to pay for a system. Don't forget that most of FF members are those who already had taken the initiative to learn about forex.
  • #69
  • Dec 7, 2006 10:15pm Dec 7, 2006 10:15pm
hi, this thread is better than i thought it would be like almost all on FF! once i start i have to read it all, even when 100 pages, ouch.. but always learning learning.. i'm a programmer too and very interested in EAs and indicators but i like trading and learning for myself.. that said, yes i think the system would be worth quite a lot to many people and it is a good idea to do the IB thing for more income and maybe to get consistent results although i'm sure that many people testing the pip boxer are on different platforms and having similar success..

What i wanted to mention is there are some EA for sale on Ebay now, someone brought that to my attention.. so the 'market' seems to be $200-300 but that's surely not the best market for this currently.

i didn't look close but i think one may be related to a guy who is in the metatrader contest and doing well. from what i can tell though they are putting the guts in a dll and trying to password protect the software, probably not a bad idea.. that gives you the ability to offer time trials, etc and get paid.. happy to give you tips on that.

i know collective2 was mentioned before to you, but this would be one suggested path for you, it provides an independent verification of the results and if it's working well it will get major exposure and you'll be getting offers likely to trade peoples money, charge for signals through them, or to buy copies of the trader for themselves..

it's exciting that some of the EAs are working, better make some $ before the banks close the door on us!
  • #70
  • Dec 7, 2006 10:19pm Dec 7, 2006 10:19pm
hey apprasai,

i suggest you do another pole. Asking people how many years they have traded forex in addition to how much they are willing to pay for systems.

I think that newbies are more likely to pay than experienced traders..it would be a nice 'pole' experiment
  • #71
  • Dec 7, 2006 10:28pm Dec 7, 2006 10:28pm
Quoting mrSmoothy
hi, this thread is better than i thought it would be like almost all on FF! once i start i have to read it all, even when 100 pages, ouch.. but always learning learning.. i'm a programmer too and very interested in EAs and indicators but i like trading and learning for myself.. that said, yes i think the system would be worth quite a lot to many people and it is a good idea to do the IB thing for more income and maybe to get consistent results although i'm sure that many people testing the pip boxer are on different platforms and having similar success..

What i wanted to mention is there are some EA for sale on Ebay now, someone brought that to my attention.. so the 'market' seems to be $200-300 but that's surely not the best market for this currently.

i didn't look close but i think one may be related to a guy who is in the metatrader contest and doing well. from what i can tell though they are putting the guts in a dll and trying to password protect the software, probably not a bad idea.. that gives you the ability to offer time trials, etc and get paid.. happy to give you tips on that.

i know collective2 was mentioned before to you, but this would be one suggested path for you, it provides an independent verification of the results and if it's working well it will get major exposure and you'll be getting offers likely to trade peoples money, charge for signals through them, or to buy copies of the trader for themselves..

it's exciting that some of the EAs are working, better make some $ before the banks close the door on us!
Thanks for your positive attitude. I'll most probably go in the direction of IB and selling signals.
  • #72
  • Dec 7, 2006 10:29pm Dec 7, 2006 10:29pm
Quoting hilmy83
hey apprasai,

i suggest you do another pole. Asking people how many years they have traded forex in addition to how much they are willing to pay for systems.

I think that newbies are more likely to pay than experienced traders..it would be a nice 'pole' experiment
This could be a good experience. I'll set a poll about people's trading experience.

Good luck
  • #73
  • Dec 11, 2006 2:14am Dec 11, 2006 2:14am
Quoting aparsai
Suppose there is a strategy out there that is a winner based on the following results:

  1. Backtest for over 300 trades on a two year period (all possible trades within the 2 year period are taken into account). The backtest shows that 70%+ of the trades are winners and the payrate is over 90% (e.g. every winning trade wins 90 pips while every loser losses 100 pips). (10,000+ pips in 2 years)
  2. Forward test for a period of 3 months on a demo account confirms the results of backtest. (1250+ pips in 3 months)
  3. Real trade on a live account for over 3 months confirms the results of backtest and forward test. (1200+ pips in 3 months)

Do you pay money to buy such a system? If yes, why and how much? If no, why?

I assume that you are convinced the info about backtest, forward test, and live account is not a scam and is absolutely true.

Put it on eBay and find out.
  • #74
  • Dec 11, 2006 1:46pm Dec 11, 2006 1:46pm
Quoting Munch_Munch
Put it on eBay and find out.
I set up a poll to see if people are willing to purchase EAs from eBay. Refer to the following thread for more info. It's to early to judge but you might be amazed by the results.

http://www.forexfactory.com/forexfor...ad.php?t=11191

Good Luck,
Al
  • #75
  • Edited 6:15pm Dec 11, 2006 5:22pm | Edited 6:15pm
Such an interesting thread...

Given your apparent ability...and described circumsatnces...Such a human dilemma...
And savvy way of polling customer sentiment..

Recently came across this site.. {link removed, see rule#2} ..seemed interesting and might be of interest to you...because it alledges objectivity and transparency... I don't know.
Personally I dont do sites that dont have names, addresses, telephone numbers and registered offices listed. I mean if you are above board, why not.

Still.. thats life...
Best of Luck.. talent should be rewarded..

CE
  • #76
  • Dec 11, 2006 6:57pm Dec 11, 2006 6:57pm
here's a thought for you apprasai..

you have done quite a few poles on here and I have done couple myself.

We basically come to certain facts.

Most people here are in their early 20's. Most of them have a year or less trading experience.

Now, WE ALL KNOW, that newbies are overexcited people who thinks forex is a get rich scheme. And most people know, that as newbies, we tend to jump from one system to the next. You can really take advantage of these newbies because everytime you come up with new eas, they would probably end up buying. This process will continue until either they will go broke by buying too many stuff or trading foolishly.

I think any business that involves forex whether it is to sell signals, eas, systems, etc. is primarily aimed at this 'new' traders. Because you and I know, they are easily convinced when they have no experience in this trading game...
  • #77
  • Dec 11, 2006 10:31pm Dec 11, 2006 10:31pm
Quoting hilmy83
here's a thought for you apprasai..

you have done quite a few poles on here and I have done couple myself.

We basically come to certain facts.

Most people here are in their early 20's. Most of them have a year or less trading experience.

Now, WE ALL KNOW, that newbies are overexcited people who thinks forex is a get rich scheme. And most people know, that as newbies, we tend to jump from one system to the next. You can really take advantage of these newbies because everytime you come up with new eas, they would probably end up buying. This process will continue until either they will go broke by buying too many stuff or trading foolishly.

I think any business that involves forex whether it is to sell signals, eas, systems, etc. is primarily aimed at this 'new' traders. Because you and I know, they are easily convinced when they have no experience in this trading game...
I have no intention to take advantage of people's weaknesses.
  • #78
  • Dec 12, 2006 4:20am Dec 12, 2006 4:20am
Quoting aparsai
We belong to the same school of thought my friend. However, there are many people out there that for many different reasons like to pay and receive a reliable readymade service. If you look at the results of the poll you can easily find out that more than half of FF members who cast their vote prefer to pay for a system. Don't forget that most of FF members are those who already had taken the initiative to learn about forex.

As for paying for a profitable system. If I had the money earlier in forex trading life, I might have bought an auto fx system that was about $3000 if I would've had the money. Thankfully I did not -
have the
money that is.
('cause if I did have the money then I probably would have spent it)

BUT, knowing what I know now about forex and how to design a profitable trading system, I would pay a smart programer to turn my manual systems into an EA rather than trust the claims of somebody elses "auto system" with my money.
Going through forex the hard way, if you keep your eyes and brain open is definitely best.

Just a few thoughts.
Thanks
  • #79
  • Dec 12, 2006 4:33am Dec 12, 2006 4:33am
Quoting aparsai
I set up a poll to see if people are willing to purchase EAs from eBay. Refer to the following thread for more info. It's to early to judge but you might be amazed by the results.

http://www.forexfactory.com/forexfor...ad.php?t=11191

Good Luck,
Al
Assuming you managed to sell a fantastic software somewhere for, say $1,000,000, to someone. Then that buyer make copies of it, and more people make copies of it, it will be selling in the black market for peanuts.
  • #80
  • Last Post: Dec 12, 2006 8:27am Dec 12, 2006 8:27am
Quoting KudzuFX
As for paying for a profitable system. If I had the money earlier in forex trading life, I might have bought an auto fx system that was about $3000 if I would've had the money. Thankfully I did not -
have the
money that is.
('cause if I did have the money then I probably would have spent it)

BUT, knowing what I know now about forex and how to design a profitable trading system, I would pay a smart programer to turn my manual systems into an EA rather than trust the claims of somebody elses "auto system" with my money.
Going through forex the hard way, if you keep your eyes and brain open is definitely best.

Just a few thoughts.
Thanks
Thanks very much for your feedback.
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