Hello All!
First of all: what a spectacular site and information resource!! Truly amazing. Well done everyone!!
Onward. I am still tweaking a very simple FX BINARY OPTIONS SYSTEM for use on options with a 60 second expiry time. My testing and practicing has gone VERY well, it is very simple and I am confident that I will have a system that will produce, with responsible trading, $400-$500 per day trading at the $100/trade level (no, really!). A SOLID, reputable binary options broker and charts that don’t lag are imperative for this system to work, but then you’re off and running!
My question is this: if I chose to sell this system to interested traders, what would it be worth? What would traders be willing to pay? If this is inappropriate to ask on this site, please forgive me, I’m just trying to get some honest feedback. Thanks!
My question would be why would you want to sell this system if you can make $8000 to $10,000 a month with it? Surely you could make a hell of a lot more money just trading?
Oh, I would certainly keep trading it. I just thought that I would like to share it with others as well and since my forex journey has been a long and arduous one, I just can’t bring myself to give it away for free…I think…maybe I will…don’t know.
Can you post your current account via myfxbook so we can look at the trades please
That is certainly something I was anticipating doing when I got to the stage of actually sharing my system. If I do that now, this thread will lose its focus, I fear. I am still testing/practicing so it is not ready for the intense scrutiny that is sure to follow if I start posting trade results. What I wanted to know here, hypothecally, is if such a system existed, what would be a fair price for it if I chose to sell it?
Just so there’s no confusion:
do I have this system? YES
am I getting EXCELLENT results? YES
am I ready to share it? NOT YET
I think you should extensively test it and when you can post proven results then a value could be considered, at the moment the only Information here is you saying you have a system that makes so much money everyday, this tells us nothing. You wouldn’t need to share your system, but if you have a myfxbook account then we can also see the excellent results that you are producing.
At the moment I would value this at £0 as there is no value at the moment from what I can see
Regards
Unfortunately, what I feared might happen here, is happening. I was hoping to feel out a knowledgeable audience on what a fair price might be for a system as I described above, nothing more. The scenario that I presented to everyone was: if this system existed AS DESCRIBED, what would you pay for it? That’s it.
When I’m ready to share the system:
Of course it will have been heavily tested
Of course the results will be posted
Of course all the results will be verifiable
…but that’s not what I’m asking today.
JUICYPIPS: I do find the tone of your last reply somewhat insulting; not everyone with a good idea is a scammer.
Sorry if it sounded that way as that was not my intention, but you must understand this site gets salesman etc quite often!
It’s just not that simple to put a price on it. Since you have been trading this system give us a months result so we can give you a post on that amount to of data
Thanks JUICYPIPS and I do understand the “salesmen everywhere” syndrome.
To everyone: to help this thread along, let me put it this way:
If the system worked EXACTLY as I have stated and got EXACTLY the results I said it would ($400-$500 per day) and all results were PROVEN and VERIFIED and DOCUMENTED…if the whole thing was proven to your satisfaction, what would be a fair price?
Is $100 too much?
Is $500 too much?
$1000? $2500? $5000?
Thanks!
That is the problem!!! You keep saying IF IF IF!!! I consider myself to be one of the best analyzers in the world. And many times I thought I had a setup would would be profitable on 60 second binaries. But the problem is IT WILL FAIL SOMETIMES, and when it does it takes way ALL WINS! I will bet anything you have not tested this live for 2 months or longer, because if you do you CERTAINLY wont come out at the end of each week/month in profit!!!
Wow. That is a stunning level of ignorance. I believe you have found the wrong venue for your voice. Just becasue YOU can’t make it work doesn’t mean others can’t. I am very, very successful and just wanted to know what others might value such a system at.
Just a metafor here but even gold can’t be given a value until it has been analyses I would suggest posting more details about your hyperthetical system, mock up a backtesting result etc
Small Blue chicken,
I would say think about human nature… We all want the maximum for doing the minimum!! If you provide a system at a ’ competitive ’ price and provided solid evidence of its success then many people will pay a suitable amount for your system…
By suitable, think of how it will change a traders life? Will it be high maintanance or set and forget? How much would you be prepared to pay for it? How many pips does it generate over an average month? If you told me it made a minimum of 1000 pips every month for the past 24 months and provided evidence I would expect to pay you several hundred dollars for the system, minimum! Its value I believe is all based on the proven performance.
Hope this helps and good luck!!
mtaylor2 - thanks for your input, it is the first response that actually addresses the question and I appreciate that. Oh, and FYI, as this is options trading, there wouldn’t be any pips to be made, strictly positive or negative trades (in the money or out of the money). Thanks for your comments!
sandybeach - I appreciate your input as well. If I could, a metaphor back at you? If I said I had a clasic 1969 Ford Mustang in pristine shape, with only 10,000 miles on it, interior/exterior in showroom shape and runs as if new…and I asked people what they thought it might be worth, I would have a dozen answers in no time. Sight unseen, going on the info I gave them, they would tell me what they thought it might be worth. If someone were to consider buying it, of course they would want to see it, have a mechanic check it, drive it, etc but in the meantime, no one would hesitate to give an idea of what they thought it might be worth. But when I apply exactly the same description and question to a fx system…oh my…the villagers look for their pitch forks.
BS!!! one thing is DANM SURE and that is if I had such a system which actually worked and wanted to get peoples true honest opinions on what it’s worth to them I would get right to the point and post my live track record history to back out my claims. Otherwise NO ONE is going to take you serious!!! I can’t STAND PEOPLE WHO BOAST ABOUT HOW MUCH MONEY THEY MAKE TRADING their magic system but have nothing to show for! When you DO NO GET RIGHT TO THE POINT not only do people get mixed feelings and emotions, but it’s a waste of peoples time, messages and server bandwidth space!!!
Infact this is what I can do trend following the longer timeframes and trading the proper way see attached:
THE BANKS AND BIG PLAYERS ARE AFTER BLOOD AND THEY CERTAINLY AIN’T GONNA LET LITTLE DAY TRADERS AND SCALPERS MAKE BANK!!! YOU WAN’T TO WIN IN LONGTERM?? yOUR WINS NEED TO BE 10 YES i SAID 10 TIMES GREATER THEN YOUR LOSSES WHICH (CAN AND DO HAPPEN)!!!
NOW LETS SEE WHAT YOU CAN DO.
Oh and BTW Your example about the 1969 Ford Mustang is (A BAD ONE) and totally pathetic!!! IT ONLY FURTHER DISCREDITS you!!! Do you take people for complete morons??? Is this some kind of idiot test??? A car is a tangible physical product! People know exactly what it is and what they can expect. What you said is like comparing people buying a ipod or pair of shoes from a legitimate online store vs paying money to join a online business opportunity when over 90% of them are SCAMS!!! Seems more like this is an idiot test to me!!! Ewww do people like you GET TO ME!!!
JIMER, for God’s sake, get some therapy. Your anger and aggression make you a menace to society.
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CLEARLY you can't stand the fact that someone is making good money with only a fraction of the effort that you are putting in and this is the driving force behind your venom. I have been polite and forthright in this thread and you have responded in angry trash talk.....your mother would be proud. -
You also clearly don't understand binary options as you talk about scalping, day trading and the big banks. FX Binary Options deals with NONE of these. Educate yourself. -
You say I have to increase my trades by 10 times. WHY???? For $400-$500 per day profit, I need only 5-7 positive (in the money) trades and I'm done. On the 1 min charts, that doesn't take long. -
The metaphor for the Mustang is legitimate as it is a PRODUCT described as being excellent in its field, and the audience would be asked to give an idea as to its value in $$, sight unseen.....exactly as my fx system question.
And now I have wasted far too much time on a fool’s errand replying to you, so I draw this to an end and certainly won’t waste any future time on responding to you.
For everyone else, just take the question at face value and let me know what YOU would sell it for if you had it, that’s all I wanted to know.
Better option is to ask smarter questions then you will receive better replies. First thing you need to is research what other binary options systems are selling for and what returns they promise. After you have done that you can then loosely gauge what the system could possibly sell for. I am not completely familiar with fx options or how popular and heavily traded they are which you might want to consider when asking on these forums(right target audience?).
Edit - to answer your question I wouldn’t sell it.