Commercial products must have track record | Forex Factory

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Commercial products must have track record

  • #1
  • First Post: Sep 8, 2010 11:28am Sep 8, 2010 11:28am
All commercial products must have either one of these track records:

1) http://www.myfxbook.com
2) http://www.stocktwits.com

Especially stocktwits.com is good because one is only allowed one alias there. Even with real accounts one could only show the one real account while leaving out the other 50 losing accounts.

For example my own account at http://www.stocktwits.com/stephanusR, the trades are numbered in order and graphs uploaded showing entry, draw-down and exit.

If such track record can not be provided then all such commercial systems should be placed in a different subsection marked: No track record.
  • #2
  • Sep 8, 2010 2:49pm Sep 8, 2010 2:49pm
Does stocktwits makes a distinction between real and demo accounts ? Myfxbook does

Don't forget www.currensee.com since they only accept real accounts
  • #3
  • Sep 8, 2010 3:18pm Sep 8, 2010 3:18pm
Quoting Cocoflanel
Does stocktwits makes a distinction between real and demo accounts ? Myfxbook does

Don't forget www.currensee.com since they only accept real accounts
Major problem with real accounts is that you could have 100 real accounts and only tell us about the 1 that made money. This is why stocktwits.com is far better than a real account. I have a real name Stephanus Rensburg(South Africa), a real individual making live naked calls on stocktwits.com with a win/loss ratio of 40/4. I am not hiding behind fronting companies.

One individual could be running a thousand hedge funds under different names, with nobody knowing it is the same person running a cluster of EA's on MT4. Of say 100 EA systems there will always be one that works. The hedge fund manager can't lose as naive investors run from fund to fund, not knowing it is actually the same person.
  • #4
  • Sep 9, 2010 5:08am Sep 9, 2010 5:08am
Here is my latest trade, winning trade on the pound given today. Takes my track record to 41win / 4loss. Note how the trades are numbered.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: MWSnap022.jpg Size: 125 KB
Click to Enlarge Name: MWSnap023.jpg Size: 208 KB
  • #5
  • Sep 9, 2010 5:14am Sep 9, 2010 5:14am
Are those trade calls just manually typed or does your platform self-generate them?
  • #6
  • Sep 9, 2010 5:46am Sep 9, 2010 5:46am
Quoting Slack
Are those trade calls just manually typed or does your platform self-generate them?
There is a twitter API that allows scripted posts to your twitter account but not one for stocktwits as far as I know.
  • #7
  • Sep 9, 2010 6:12am Sep 9, 2010 6:12am
This is what we need for commercial vendors. Prove to us that your system is profitable (best with extended periods coverin both range & trending markets) and we will make a more informed decision on acquiring your product/service or not. Unproven claims are just hollow trumphets.

Good work there and congrats to your success. Keep it going.
  • #8
  • Sep 9, 2010 6:33am Sep 9, 2010 6:33am
A track record is absolutely useless. There are plenty of examples of well known funds with great trackrecords spanning years and years that blew up and lost all the money in a matter of months.

Instead of all you guys spending so much time here debating how to rank and judge commercial members, why don't you learn to trade for yourselves instead.

Half of the "professional" funds go out of business eventually, last year Barclays said that they estimated 75% of the HF's to blow up, all these had great "statements"

Last year over 900 funds, all ranked on HFI and BH went out of business, so how is a "live" statement going to help you from losing your money?

The argument about "live" statements is totally irrelevant.
  • #9
  • Sep 9, 2010 8:33am Sep 9, 2010 8:33am
Quoting cloggie
A track record is absolutely useless. There are plenty of examples of well known funds with great trackrecords spanning years and years that blew up and lost all the money in a matter of months.

Instead of all you guys spending so much time here debating how to rank and judge commercial members, why don't you learn to trade for yourselves instead.

Half of the "professional" funds go out of business eventually, last year Barclays said that they estimated 75% of the HF's to blow up, all these had great "statements"

Last year over 900...
I agree about 99% with your sentiment. Nobody had access to their individual trades which would have shown large draw downs, showing that they were gambling. Out of 1000 hedge funds due to random luck, there will always be a few making money but over the long term they all blow up.

See http://www.myfxbook.com/community/su...s-pips/47597,1 for a discussion relevant to this.
  • #10
  • Sep 9, 2010 8:40am Sep 9, 2010 8:40am
Quoting StephanusR
I agree about 99% with your sentiment. Nobody had access to their individual trades which would have shown large draw downs, showing that they were gambling. Out of 1000 hedge funds due to random luck, there will always be a few making money but over the long term they all blow up.

See http://www.myfxbook.com/community/su...s-pips/47597,1 for a discussion relevant to this.

So we both agree then, there is zero value in posting statements and actually it just opens a larger can of worms.
  • #11
  • Sep 9, 2010 9:01am Sep 9, 2010 9:01am
Quoting StephanusR
I agree about 99% with your sentiment. Nobody had access to their individual trades which would have shown large draw downs, showing that they were gambling. Out of 1000 hedge funds due to random luck, there will always be a few making money but over the long term they all blow up.

See http://www.myfxbook.com/community/su...s-pips/47597,1 for a discussion relevant to this.
We're all gamblers. Those that think they are not gambling are kidding themselves. It just that some gamblers are better than others.
Nothing worth having is easy.
  • #12
  • Sep 9, 2010 9:45am Sep 9, 2010 9:45am
Quoting cloggie
A track record is absolutely useless. There are plenty of examples of well known funds with great trackrecords spanning years and years that blew up and lost all the money in a matter of months.

Instead of all you guys spending so much time here debating how to rank and judge commercial members, why don't you learn to trade for yourselves instead.

Half of the "professional" funds go out of business eventually, last year Barclays said that they estimated 75% of the HF's to blow up, all these had great "statements"

Last year over 900...
One of the ways they manage to keep suckers investing in mutual funds is the record posted by the fund manager. But, what no one mentions is that when a fund fails it is usually merged into another fund, that way only the winners are marketed to retail and the retail never sees the losers. Then new funds are opened to generate investment banking fees and such, and the process repeats.

If anyone here has ever owned a mutual fund, or a 401k, IRA, or other retirement fund, you'll get letters mentioning that the fund will be closing and being merged to some other fund with a flashy name.
  • #13
  • Sep 9, 2010 10:24am Sep 9, 2010 10:24am
Oh no, don't ruin the party. It's not gambelling, it's careful analysis, a deep understanding of the current situation, it's also sixth sense, a little bit of special ability. The greatest traders are always special. They can predict how the crowd will react, they feel where orders are lined ... I hope I'll get there one day!

Quoting Patience
We're all gamblers. Those that think they are not gambling are kidding themselves. It just that some gamblers are better than others.
forget about tomorrow, just steal away into the night
  • #14
  • Sep 9, 2010 10:41am Sep 9, 2010 10:41am
Quoting cloggie
So we both agree then, there is zero value in posting statements and actually it just opens a larger can of worms.
In my humble view I actually believe I can trade the markets. Such is my view , it has to be proven though , which is why I am posting real-time trades at http://stocktwits.com/stephanusR stating the most important variable for each trade : the pips gain to draw -down ratio. It enables one to discriminate between gambling and true market insight.
  • #15
  • Sep 9, 2010 10:42am Sep 9, 2010 10:42am
Quoting spekitox
Oh no, don't ruin the party. It's not gambelling, it's careful analysis, a deep understanding of the current situation, it's also sixth sense, a little bit of special ability. The greatest traders are always special. They can predict how the crowd will react, they feel where orders are lined ... I hope I'll get there one day!
You got that right. It's the ones who think that they are "special" that call themselves traders I just love taking threads off on a tangent.
Nothing worth having is easy.
  • #16
  • Sep 9, 2010 10:45am Sep 9, 2010 10:45am
Quoting StephanusR
In my humble view I actually believe I can trade the markets. It enables one to discriminate between gambling and true market insight.
StephanusR,

You still owe me an apology on this thread

http://www.forexfactory.com/showthre...=244834&page=4
  • #17
  • Sep 9, 2010 10:46am Sep 9, 2010 10:46am
Quoting thesnacker
One of the ways they manage to keep suckers investing in mutual funds is the record posted by the fund manager....
This is true with the same group of traders trading under different aliases. One must know who is the individual trader that you are dealing with. This is why a http://stocktwits.com/stephanusR is so important, it levels the playing field and creates transparency. Only individuals can trade, not companies.
  • #18
  • Sep 9, 2010 10:49am Sep 9, 2010 10:49am
Ah, looking for some action today? Well, pick a "trader" and tell him he's nothing but a lucky fool. A good quarrel guaranteed.

Quoting Patience
You got that right. It's the ones who think that they are "special" that call themselves traders I just love taking threads off on a tangent.
forget about tomorrow, just steal away into the night
  • #19
  • Sep 9, 2010 10:53am Sep 9, 2010 10:53am
Quoting spekitox
Ah, looking for some action today? Well, pick a "trader" and tell him he's nothing but a lucky fool. A good quarrel guaranteed.
No, I'd just tell him he was a gambler. Got enough action with Hurricane Karate Chop thanks.
Nothing worth having is easy.
  • #20
  • Sep 9, 2010 11:13am Sep 9, 2010 11:13am
Quoting cloggie
So we both agree then, there is zero value in posting statements and actually it just opens a larger can of worms.
You can usually guarentee that if something isnt in the best interests of traders, then they'll want to do it.

This fixation on using audit type sites to legitimise performance is really plain stupid. The results are pitifully easy to fake, and even if the basic security flaws where addressed, you'll just end up with better resourced professional criminals manipulating results rather than the current situation where every tom dick and harry trying to pimp his EA, mentoring or signals service routinely fakes results.

These types of sites are just another part of the problem (look how many forum owners are jumping on the band waggon and developing them), they're just another tool in the arsenal to exploit the gullible. They know these facilities are being used fraudulently, but they generate traffic, ad revenue, broker rebates etc.

These kinds of facilities are useful, but to use them to legitimise perfomance really shouldnt be encouraged.
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