Ok, I am a newbie. I have a Bulldog/FXCM demo account. I see trades placed in the demo account. I also see my P & L is MINUS $850. I can do that myself! What doesnt make sense is the Trade Status page on C2. How does that correlate to the FXCM demo account? they dont show the same things. I would also like to believe that C2 is making money for someone. I doubt it would be around for long if no one was making money using systems from it. What works for everyone? I
If you expect to open an account, pick a nice looking system, and make good money from the getgo, you will almost always be sorely mistaken.
I suggest that you:
1) be patient and have a much longer time profit horizon
2) educate yourself WELL about trading, in all possible ways. Get books, read forums (Trade2win.com and EliteTrader.com are two good forums). 90% of what you read will be anger or clueless, but you need to look for the nuggets of wisdom
3) learn to thoroughly understand and read the system statistics
4) make a list of systems (use My Analyst) that appeal to you. WATCH THEM FOR AT LEAST 4-6 weeks. Almost all will go flat while you watch. If any continue on, you have found systems WORTH CONSIDERING for trading.
5) get involved in the Collective forum and other features here (like system reviews and OTHER people’s My Analyst page)
Anything that seems too good to be true IS
Points well taken. I should point out I am new to C2, NOT trading in general. Just about ALL of C2 seems to good to be true thats why I asked about what people find to work for them. What statistics in the systems do you consider important to understand and how to apply them in order to be profitable? It would seem that the whole point of C2 is to find a good system, open an account and watch it grow. Isnt that what automated trading is supposed to be? However, after reading around a bit it looks like most "Systems" are not even REAL. They are SIMULATED. Slippage, commisions, delays and unrealistic entries skew all the results and no on is able to achieve the results as displayed by C2. I will look through some OTHERs Analyst pages and reviews to get some more feedback. Thanks for your input.
"It would seem that the whole point of C2 is to find a good system, open an account and watch it grow. Isnt that what automated trading is supposed to be?"
That is what happens on Cinderella. The likelihood is, that 95% of traders who come here will NEVER make serious money. That is the percentage of new traders who fail in general. Many of them fail because they are lazy, and expect the glass slipper treatment.
The ones who have a chance, will consider seriously what I said above, at least in part
"However, after reading around a bit it looks like most "Systems" are not even REAL. They are SIMULATED. "
That is not the main problem. It is that few systems actually outperform the general market. The systems people fix their attention on appear to be solid winners. The truth is, they are the ones that made the top of the statistical heap. Out of the top 20 systems people rate high here, I would guess that 1 or 2 of them actually work.
So why are you here Ross? Just trying to find that 1 or 2, or just trying to help the masses?
CB
why are you here, Craig?
So what are you saying, that most of the systems on c2 don’t make money, and even those that appear to from their equity curves, actually don’t IRL?
dunno the meaning of "IRL"
Sorry, In Real Life.
ok, got it. Then based on your post: "So what are you saying, that most of the systems on c2 don’t make money, and even those that appear to from their equity curves, actually don’t IRL?"
I think anyone would be hard pressed to think that most C2 systems are profitable.
Further, I think anyone would be hard pressed to prove that more a few C2 systems are longterm profitable, with reasonable system stats. Equity curve is not a reliable indicator, and neither is a few months of seemingly good performance.
Ross,
Not sure why you came back like that. If you want to know, I’m trying to make a system that can make myself and others money. You seem a bit negative, so I’m asking why you are here. Is it to make money with those 1 or 2 that might be, or is it to help others stay out of trouble. I was just asking an honest question because for the most part I respect your opinion.
Craig
I would say that why I am here is my personal business; I don’t feel the need to justify it.
The only strategy from you, Craig, is to boom from the start, or stop if it doesn’t work, to get a big APR, then slow down. Let the losses run against you, and start another system.
Beau,
Did I ask for your opinion? As for what my strategy is, sign up and I’ll let you know. Otherwise, as a fellow system vendor, don’t bad mouth other people unless you want criticism on your systems.
Sincerely,
Craig
