Pikasso posted: We do not seek out eas, we create them. )
By extension that means that there are successful EAs out there. Surely one personal has then decided to sell their EA. That is why this thread was started. How can we find those traders that have written a successful EA and are selling it somewhere
Consider this for a moment, Let's say that 'investor x' has spent the last 10 years of their life, working every day on their automated trading system, most days putting in 18 hours a day coding, 7 days a week, testing, coding, testing, coding, testing, etc, etc, etc, EVERYDAY for 10 years.
And then after 10 years of hard work they end up with a system that works across perhaps 75% of all normal market conditions. But once it's fine tuned, and given enough processing power, it finally makes a consistent profit, with low risk, in an fully autonomous manner. And just for the sake of this discussion, let's also say that the system safely returns back a 10% compounded ROI per week.
With an initial base investment of $10,000.00 USD with a compounding interest of 10% will make the person who owns that system extremely wealthy.
In 52 weeks, they'd have well over 1.5 Million dollars.
After 260 months (5 years), they would have $636,049,369,276,725.00 in their trading account.
Somehow you think you're going to just randomly find someone on the internet that is going to be willing to sell it to you?
There is no amount of money you could offer that person that could entice them to give you a copy.
killerrj8 posted: Probably not going to happen, since there is only so much liquidity and only so much lots that you can trade. So no. They won't have $636,049,369,276,725.00 in their account.
It was a hypothetical scenario to make a point. I was pretty clear about that.
They will keep it to themselves, and not tell people about it nor would it ever be offered for sale to the general public.
Also, if a person is smart enough to build this kind of system, they're also smart enough to know NOT to try and extract out $636,049,369,276,725.00 of the markets into a single trading account. They would run it intermittently so as not to attract too much attention to themselves.
There is simply no amount of money you could offer, that would be enough to entice that person to sell it to you. They would have no need for your money.
rscr posted: HaHa!!! Great on paper but absolutely not possible. Market can not support that volume of compounding.
It was a hypothetical scenario. I was pretty clear about.
The general discussion was in regard to someone trying to buy a system that so they could make money
Of course I don't actually think you could suddenly pull that much into a single trading account at those levels.
That wasn't really the point to it.
My point was 'IF' someone owned a system that was that powerful enough to make themselves wealthy, they certainly wouldn't tell anyone about it, and there is no amount of money that anyone could use to entice the programmer to sell it to them. They would have absolutely no need incentive to let anyone else have a copy of it. Why would they ever risk that kind of exposure? They simply wouldn't.
saturdayresearch posted: I see this thread as more of an incentive to work harder on my own strategy now!!! If I could get something half as good then it would be more than good enough to give me an income
EXACTLY RIGHT! :)
Focus on risk management as the #1 priority, build tools optimized to assist with the management, and over time build those tools up to create an automated trading system.
Risk Management Money Management Automate where reasonable and realistic to do so High probability market entry points Reasonable and realistic stoploss targets Reasonable and realistic takeprofit targets
One thing to consider is this, rather than trying to build a fully autonomous system immediately. I've found in my own experience that building the individual items of highest priority would be more beneficial initially, rather than trying to do it all at once.
For example, perhaps an investor will create the individual ticket entry manually, but then once the ticket is in the basket, a trade management system (bot, script, whatever...) will watch over the basket and adjust the Stoploss to break even as soon as possible, before opening the next ticket in the basket.
This is just my opinion and it's just how I personally trade, but I think it's a good rule to consider Risk Management as the #1 priority.
Effective risk management is as close to the Holy Grail of trading as I have found.