Hi Matthew,
I didn’t post this message in the auto-trade forum, because I don’t consider BAAT is auto-trading.
I would like to understand how BAAT is working. Is C2 selling my systems to a broker without my consent?
How can I be sure the broker is not trading 1000 clients accounts with only one subscription? (I am not paranoïd, but as I am considering promoting my systems with one exclusive specific broker, I want to keep it under control.)
How can a broker earn extra pips trading my system for customers, without me to know and to get paid back by the broker? Is C2 getting paid back?
I don’t like it…
Jerome
No one has access to your (or anyone else’s) trading system without subscribing to it. Brokers don’t have special access. If a end-user customer wants to use Broker Assist trading, the customer must first subscribe to the trading system in his own name.
Only after a customer subscribes to a system, can he ask the broker to trade it for him.
In terms of how a broker makes money: Brokers earn money by charging the customer a commission for each trade they execute on the customer’s behalf.
No one is trading your system, incidentally.
Matthew
Thanks Matthew,
I do think 1 subscriber is trying to, but his broker did not trade the last signal.
The new BAAT feature is potentially a BIG step forward on C2, congratulations!
Thanks for keeping full transparency towards system developers.
Jerome
OK, still confused. Subscriber #1 has a broker trade for him. Broker tells other clients that there is a worthwhile system that they should follow. Broker has signals, now can have clients #2 thru #1000 trade for free. Broker collects commisions, C2 and vendor get just 1.
But that kind of dishonesty can happen, regardless. With C2, without C2. With Broker-Assist, without Broker-Assist. Any dishonest broker can “steal” signals. Just like any reader can photocopy a book and sell it on the Internet for cheaper than the original publisher.
The good news is C2 is on the system vendors’ side and it has the financial and legal muscle to enforce honesty.
…Unless the lack of honesty is on the vendor’s side.
I’m still testing your system Jerome. I think the MB Trading’s forex demo account is a little flaky, though. I keep losing the connection, and TB can’t reestablish it automatically for some reason. I have to close and reopen it.
For the current trade, I got the stop and limit orders for 90%, but the connection to the broker died and they didn’t fill. I restarted TB when I got home just now, but then it decided to cancel the pending stop and limit orders. No idea why. But I manually closed 90% at the limit listed on C2. Hopefully that won’t mess up any further orders.
BAAT would be pretty nice, so they can monitor annoying situations like this. However, I don’t really want brokers contacting me. I’d rather contact them about the systems I’m interested in trading.
-lcg
Loren,
Quote feed reliability is improving. From the day system vendors can trust the quote feed and the BAAT, they will have the opportunity to call market orders only. That’s what I will try very soon on High-SharpeFX.
With market orders and BAAT, subscribers never miss one single trade and are able to replicate any realistic system profitability, even while sleeping. Last but not least, subscribers set their own leverage, keeping risk under control!!
Life is good and keeps going better!
Jerome
Hehe, you might want to test it in one of the new “test only” systems MK was talking about a few days ago.
-lcg
