Vendors who don't show a trade explorer are not credible | Forex Factory

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Show Trade Explorer, why Yes or why Not... 47 replies

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Vendors who don't show a trade explorer are not credible

  • Poll

  • Should vendors have a trade explorer to be credible?
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  • #1
  • First Post: Jul 2, 2014 12:33pm Jul 2, 2014 12:33pm
Ok, let's have the debate. To have any credibility someone who is selling a system, ea or some form of training should have a trade explorer showing all the details, balance, lots, etc to prove that what they are selling has merit.
  • #2
  • Jul 2, 2014 9:43pm Jul 2, 2014 9:43pm
I'd be interested to hear some justification and thoughts from the not necessarily camp.
  • #3
  • Edited 11:45pm Jul 2, 2014 11:23pm | Edited 11:45pm
Not necessary for me, I just love writing checks or paying cash to any vendor who says the system, EA or training is making millions for all the happy customers.
The vendor's word is good enough for me.
I am also the happy buyer of a nice bridge in Brooklyn and I am proud of it.
  • #4
  • Jul 3, 2014 5:51am Jul 3, 2014 5:51am
Quoting Mingary
Not necessary for me, I just love writing checks or paying cash to any vendor who says the system, EA or training is making millions for all the happy customers. The vendor's word is good enough for me. I am also the happy buyer of a nice bridge in Brooklyn and I am proud of it.
Lol, yes, it seems 4 people so far have the same view. Maybe you should try selling your bridge to them for a profit?
  • #5
  • Jul 3, 2014 5:39pm Jul 3, 2014 5:39pm
So far it seems that the vendors who rely on reputation alone are in a spot of bother. It makes sense to me that if you want to teach people a skill you should have to demonstrate your aptitude for the skill first. Trade explorers and myfxbook are really changing the face of the commercial forex teaching/system business and surely in a good way.
  • #6
  • Jul 4, 2014 1:18am Jul 4, 2014 1:18am
More voters please, come on!
  • #7
  • Jul 4, 2014 2:49am Jul 4, 2014 2:49am
The problem is: They should of course have a trade explorer, but that is not enough. It should also run a sufficient time. And they should explain the theory behind their system and show a comparison of their explorer with their simulation.

You can easily fake a straight upwards equity curve for some time with any system, by just using a very tight profit target.
  • #8
  • Jul 4, 2014 7:24am Jul 4, 2014 7:24am
Interesting how Raghee just ignored your post and people don't even seem to notice
  • #9
  • Jul 4, 2014 7:37am Jul 4, 2014 7:37am
Quoting Sossos
Interesting how Raghee just ignored your post and people don't even seem to notice
Very interesting but it seems people don't care about whether any of her methods actually work or not.
  • #10
  • Jul 10, 2014 1:38pm Jul 10, 2014 1:38pm
The problem with trade explorer is that you cannot hide open trades or trade history as far as I can tell on the settings. (I have a myfxbook which I can hide the history and open trades that is listed on my thread btw). I would like to have a trade explorer because it would bring more attention to my thread, but having open trades and trade history open for everything is a bad thing (because whats the point of selling something if you can just follow it on forexfactory for free - it would be unfair to paying clients, and no one would pay for trades/trading they could get for free by following your trade explorer).
  • #11
  • Jul 11, 2014 12:28am Jul 11, 2014 12:28am
If I could add my 2 pennies worth. Its all very good showing the trade explorer but if you hide the balance and lot size then it is meaningless and more often than not this is being hidden because the balance is £100 give or take. The significance attached to £100 as opposed to £10,000 is worlds apart.

People who disagree with this, and you are welcome to do so, will argue that it is sensitive commercial information but the very fact that you have placed your account on forex factory and are posting in forums negates this argument. This must in turn lead you to ask the question what have they got to hide and would you place £10,000 with some one who has a trading account of £100. Full transparency is the only way to gain any credibility.
  • #12
  • Last Post: Jul 11, 2014 6:04am Jul 11, 2014 6:04am
Quoting rsf1
If I could add my 2 pennies worth. Its all very good showing the trade explorer but if you hide the balance and lot size then it is meaningless and more often than not this is being hidden because the balance is £100 give or take. The significance attached to £100 as opposed to £10,000 is worlds apart. People who disagree with this, and you are welcome to do so, will argue that it is sensitive commercial information but the very fact that you have placed your account on forex factory and are posting in forums negates this argument. This must in...
The problem with the above is a vendor with a PAMM or joint account where he is displaying the money that his clients have. For instance if Mr Y says, I have just joined X account and you can see that the total equity has gone up by $10 000, you are essentially breaching client confidentially of Mr Y. It would be better to have a system where the explorer can differentiate between 3 figure, 4 figure, 5 figure, 6 figure, 7 figure accounts (or other particular ranges for example $1000-5000, 5000-20000 etc) giving information about the size of the account while still maintaining some confidentiality.
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