Not that really matters but you people (collective and OEC) pass the "ball" from one to another? Here on collective 2 website http://www.collective2.com/static/aboutAutoTrade.htm states that OEC charges 1.99$, while on OEC website http://www.openecry.com/traderstoolbox/3software_c2.cfm?SoftID=26 it states that collective 2 charges 1.99$/ futures contract/side. Now of course it does not matter I was just wondering who is so anxious to get rich quick. 1.99/contract/side means no more and no less than 3.98$/round trip/contract now add to this another lets say 5 bucks/round trip - broker (depending on the contracts one trades) usual commission - and here we have a 9$/round trip just to place a trade - am I wrong? Now, personalize the performance of the systems on collective 2 (I speak of futures here) with that amount of cost/trade and…whats left for you in terms of profit for even the best systems around is close to nothing given the fact that you and only you take the risks. 1.99$/contract/side???
Hi, Paul:
The cost of Gen3 AutoTrading is not a secret. It’s posted on our Web site, is presented on a special screen you must acknowledge before you turn on AutoTrading, is in the legal agreement customers must sign, and is on the general informational pages about AutoTrading.
You do not need to pay it. You can instead choose not to use Gen3 AutoTrading. Or you can AutoTrade through another provider or technology (Gen1 software, made by other vendors, such as TradeBullet and Trader68 is also excellent). Finally you can elect not to AutoTrade at all.
Many people seem to think the additional cost is worthwhile, which is why we offer it at that price. Providing the service is not a trivial undertaking, and is quite expensive.
You are right that not all systems are economically viable when there are higher transactional costs rather than lower transactional costs. But of course this is true across the entire financial industry: some brokers charge more, and some brokers charge less. Thus some strategies are more viable than others, depending on the broker or technology platform you choose.
Matthew
yeah, well…I was just surfing the site and thinking about everything so I just point out something that to me seemed (and still seems) a unnecessary and way to expensive tax (the autotrader gen3 looked like something very useful…until I saw the price) , Thanks for the answer Matthew, have a nice weekend.
