I’m a young student in Australia who has no experience in stocks, futures, options and forex, and I would like to follow the advice from the Dave’s Goofiz ATM system which trades mostly stocks, some futures and forex.
So exactly what should I do? I’ve no idea where to start. Who should I contact to be able to trade with stocks, futures, options and forex. Is there a broker who do everything or do I have to find a separate stockbroker for every instrument, or is where a better alternative, like www.etrader.com and other online services, or this site’s robotprogram/tradingbull that atomizes it without you having any human interference to make a transaction?
And how much money should I at least have, and where can I get a maximum margin of 50%?
I would really appreciate if someone could me with this.
To Mehrdad, I think you should look into trading for beginner and know a little bit about trading before you put your hard working money into these system trading, know your risk level, the products and the people you dealing with before putting any money down. Basically , know your investment before doing anything or else it can get very ugly! Good luck.
Playing with sharper give you no chance to win. Small chance is if you understand the game. And you even don’t now rules of the game. How funny lol Dreamland of making me rich quick lol
Eu
Mehrdad,
Don’t get too excited yet. Yes, start now, but consider the first 2 or 3 years learning years. You will most likely end up losing money the first 2 years. The reason is, you need to learn how to trade unemotionally. The only way to do this is through experience, risking your own money. Decide how much money you can afford to lose, use that amount of money to open up an account at a good discount broker, subscribe to a system, then make your first trade. Read some books (a lot of books), look at your first trade and try to figure out what you could have done better, then make a second trade. Keep learning. It takes baby steps, but anyone can do this if they know how to manage their emotions. That is the hardest part. Good luck.
Brian
You don’t need to know how to trade to subscribe to a C2 trading system. That’s the point of subscribing to these systems. If you can trade profitably you probably would’nt subscribe, you would trade your own strategy.
If you desire to, go ahead and subscribe to a system that you beleive is performing well. Search the web for online brokers, they will tell you how to set up an account. Read a book or two on trading stocks, futures, etc. to see what it’s about, but do not try to trade after that. It takes a couple of years at least to arrive at a viable trading strategy.
You can also go here http://www.elitetrader.com/ and get info and talk to traders.
Well, I want to subscribe to a system because I’ve no knowledge or experience. And why would I lose money the first two years if I choose to subrscribe to a system, like Dave’s Goofiz ATM, that has been operating for 39 weeks with an annualized return of 830%% and which also has a very low sharp ratio. Dont the system work? Is that why I have to learn trading?
I’m confused now.
Mehrdad,
Sorry, I didn’t mean to confuse you. If you subscrbe to a very good system, and stick to the trades religiously, you should make good money. The problem is, some people panic when their holdings start going down, and they decide to sell. Or they decide to sell after they’ve made a small profit because they don’t want to lose that profit, then they miss out on the really big profit. So they’re not sticking to the system. For most traders, emotion (fear and greed) gets in the way. If you know how to control your emotions in the market, you will be one of the successful ones.
Brian
Mehrad, before you have to understand a lot for not loosing your money in no time, also in c2, if it would be easyer everybody would be millionaire in 6 month, if you want to learn to trade I would recommend a Interactive Brokers account and for the first time a risc of very little money (after some papertrading) I doubt, if it is possible to gain money with Dave Goofix… I tried it and nothing worked. I had thought, if he pretends to gain 500% I would gain at least 10 or 20 but today I doubt. Good luck! Henry
Step-by-step.
if you want to subscribe to ANY system you have to do some home work.
1. You have to find a broker that gives you possibilities to trade the system instruments. As I know IB (Interactive Brokers) is good place to start for mix of stocks/futures/forex.
2. You have to be familiar with your responsibilities for every paper that you're going to trade. Signal's vendor won't be responsible if something went wrong.
3. You have to finalize minimum account requirements for a system.
4. You have to learn software of your broker. You don't want to hit a wrong button, do you?
5. You have to be prepared for "black swan". What you'll do if: C2 is down, internet connection is down, PC is down, a broker is down, an exchange is down. It might sound ridiculous, but sh@t happens.
6. You have to calculate minimal size of your account that is based on your system/broker/law requirements.
7. From the point you're ready to use a system from C2.
8. Forward test the system with minimal possible lot. Keep a track of trades. You might discover that a system, that you choose for t raiding, doesn't fit your own preferences or it doesn't perform well in real world in the same way as in C2. In the case your loses will be minimal.
9. And only if you did previous steps and you're satisfied with performance of a system that you're subscribed only from the point you can try to put real money/size to a system of your choose.
10. And ... don't trust any numbers until you have your own stats .
P.S. it's really obvious ;)
Eu
I believe, for your fund size, you can try to open an account in IB (www.interactivebrokers.com). You don’t need to have more knowledge in trading, as a matter of fact, knowing too much hurts. :)). Following a great trader, you can make money and gain trading experience without suffering the painful learning curve. Why don’t go for it?
After all, only performance matters. I don’t understand why so many people don’t trust other’s trading. There are many great traders in the real world, and there are a lot of retail traders able to outperform pro traders A LOT. Unable to match other’s performance or unable to understand other’s approach does not mean other people cannot make it.
Heinrich,
I promised myself to not comment any system in C2 if I cannot say any good word about the system. I found the type of comments vulgar even for my rude personality.
Anyway, there is a story. I had/have two systems that performs very well in paper world and I spent few K’s to discover a small flaw that makes the systems unprofitable. It was very hard to catch it in backtesting at least for me. To make a long story short. I’m pretty sure that one of the system is still be able to exploit C2, even with RF. Unfortunately, I don’t like an idea of playing with other people money.
P.S. I’m not refer to any particular system.
Eu
After you open your broker account and put some money in there, play around with the order entry platform they give you to enter trades. ( Interactive Brokers is worth checking out). When you know how the order entry platform works, then you are ready to receive buy/sell signals from C2 vendors. Look at C2 auto trading, see if you want to do it that way.
You can subscribe to more than one system. You can do an intraday system (buy/sell same day), and also do a swingtrading system (holding to next day or longer). Trade small lots to begin.
It comes down to one thing. If you can pick the right systems you’ll make money. Look at all the system performance numbers, and also look at the Realism Index.
So the systems don’t work or give the returns they almost promise? Or is it because the realism factor of that system is relatively low, namley 0.28 or something.
The site says that you are very likely to get same returns if the realism factor is 1. And there is a system that gives 400% in return annually with a realism factor of 0.98. So I’m almost guaranteed to get atleast 50%? If not, why?
And yes, if it works, that you can achieve 50%+ in returns, why would everyone just become millionaries?
Nothing makes sense to me. I would be happy if someone could answer these questions.
So what returns could you expect in real life if you choose the best system?
There are for instance a system with a realism factor of 1, and it got a return of over 100%. Does a realism factor of 1 mean I’m 100% going to get the same returns?
My evaluation is to look at win size compared to loss size. Look for consistent winning trades with not as many losers. Start with small lots then scale up. If you decide to go ahead and your buy/sell orders get filled easily with not much slippage, then I’d say the system is tradeable.
