Quote:
Originally Posted by topgun_68
Nice post. It's a shame that so many people are trying to buy someone else's system/methods because their to lazy to develop their own. I agree with you that if someone is trying to push off their 90-95% success rate system than why the hell don't they just trade for themselves and retire. To me it's such an obvious scam but I guess if someone is gullible enough they would buy anything. Good luck to you!
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I hear these comments all the time and they bother me a lot. It represents the inherent distrustfulness that so many market participants have. Certainly, skepticism is good and healthy, but I would really love to see traders act more cooperatively than they do.
How do you know that these system vendors aren't actually trading their own systems? Maybe they are. Or maybe selling the system is a way to build trading funds. There's also the system developer who is good at coming up with good strategies and methods, but is a poor trader when it comes to execution. There are plenty of folks like that. My point is, system vendors are not necessarily greedy folks just out to make a quick buck - though I'm sure there are some of them in the business too.
That all said, the biggest problem with this whole game of folks buying systems and whatnot is that they go into the thing completely blind. They don't know what they should be looking for, or even if they should be looking at all.
For example, there are tons of day trading systems out there, but how many people really have the ability (or inclination) to be day traders? That a disconnect. There are tons of forex systems, but many people are better off in stocks.
Even if a trader isn't going to actually develop their own trading system/method, they should still go through an assessment process as if they were. That will allow them to at get an understanding of which direction they should go.