This is the reason there is a reset fee. It’s also why we insist all “reset” track records are archived and continue to be publicly visible.
If I buy a basic plan and blow it up, then I would pay $30 to reset, but if I purchase a new basic plan, it only cost me $19?
Do I understand it correctly?
Unfortunately C2 focuses significantly on making money from all Trade Leaders (regardless if they have subscribers) and don’t give a single perk to leaders who actually bring in subscribers. I get that to some extent for leaders that don’t have subscribers (though you can’t push newbie away either). But it was always my opinion that listing fees of strategies with more than a few subscribers should be waived. This new set of fees goes completely opposite of that.
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@wmwmw: Each user can only create one Starter account. So, I guess people that want to try to game the system would try to create fake identities with multiple credit cards, and create a “Starter” account each time. I think that’s a bit dishonorable and probably not worth the inconvenience; and the economics aren’t so obviously great, either. Just my two cents.
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David, I suggested to Matthew over 6 years ago when ETF Timer had over 300 subscribers that he at least waive the listing fees, but he wouldn’t.
The funny thing is now ETF Timer has recovered its entire drawdown and just hit its all-time high after I diversified its holdings and made some other improvements, but I have only a couple of subscribers! Go figure.
Jim
Its not clear how this works hence the starter is priced at $19/ strategy , one would think that if you want to open 3 small strategies then you can purchase 3 starter plans .
Another question here , what if under the starter plan one wants to abandon a strategy and wants to open another one , what he should do ?
Starter Plans are really meant as just that - a low-priced “starter” choice for people who want to get their feet wet with a small model account (forex or futures) and who aren’t quite ready to commit to the Basic Plan. There’s no “strategy reset” feature available for this choice.
So I think that, for users drawn to the Starter plan initially, if they trade for a while and grow to like C2, but aren’t satisfied with their trading track record, and want to start a new strategy, they’ll probably want to move to a Basic Plan, which allows resets.
So again, if I run a strategy that started with $20k, do I have to automatically now use the basic plan and pay $468 a year instead of $240 a year? Will we get grandfathered?
The more I look at this the less I like it.
DogZebra_Investing,
You are correct.
Unfortunately, for most System Developers your annual listing fees will double under the new pricing model.
Also, you will only be grandfathered at the existing listing fee rate of $120 for 6 months if you prepay it now with no hope of any refunds if you later decide to terminate that trading strategy.
Jim
Agree with David. To be frank, as a trade leader. I am very upset by the plan. Managing 4 strategies make complete no sense now. Why would C2 prefer to earn more money from the leader?
You should’ve pulled your system. Fee increases like this go over because a rational bet is made by executives that overall they will still make more money over those that pull their systems. They figure you have no other choice but to make less money and continue to list with them as less is still better than zero. But it’s not as simple as that. This is not EBay–there are other choices for traders that make money (real profit, not fake profit like with the risky martingale systems on here). Profitable traders can just trade their own systems and not share them. I was already on the fence with listing my system as increasing the amount of money traded using my strategy with C2 piggy-back traders can hasten the eventual “expiration date” of the system. If I’m not compensated for taking that risk I might as well keep my systems to myself.
Everyone should pull their systems and they will reverse this decision. Don’t pre-pay to “extend” your listings at current rates, just close them down as I intend to as they expire. I doubt most trade leaders will follow my example, but this marks a bad point for C2. I highly suspect quality will decline from here. I suspect TOS trade leaders that can simply profit on their own will leave and C2 will become even more of a wasteland of “fake profit” systems that aren’t actually traded by their leaders (e.g. Zip4x and the like).
Matt, stop trying to milk more money off trade leaders and start incentivizing higher quality systems. Waive listing fees for TOS systems that have subscribers or otherwise give them tangible perks. Reward your high quality content providers instead of punishing them more. That would incentivize higher quality systems, result in more positive results for more people, and spur subscriber/user/profit growth. More people making more money is healthy profit for you as opposed to this unhealthy parasitic direction you’re going. You are incentivizing the wrong things and the C2 experience for everyone will degrade as a result.
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One way to take advantage of this new plan would be an association between traders and apply to the professional plan. Each trader then would pay 30$ a month for each system that would mean an increase of 50% yearly cost comparing to the current plan but with the considerable advantage to keep up 100% of subscriber fees.
A sort of consortium between a group of traders. Thoughts?
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That’s not something C2 would support.
And we all login with the same credentials , not reasonable .
I’m in for joining a group of profitable traders to split listing costs and get 100% of subscriber fees.
I can even run such a group. If your system can send me signals electronically I can get them into C2 via API in real time.
I am interested on that David. As I matter of fact I would need to log in only overnight and sometimes during regular session in case of issues. If you are going to run such group would be excellent for me. I will provide my contact details via PM.
PS: Mattew, I am sure you are not happy about my idea but we are traders and we have to adapt at changing condition of the markets.
Why don’t you email help@collective2.com and ask about the Professional Plan. You’ll probably want to understand the details before you go too far down the road.
Feel free to send details of the Professional plans via mail and eventually address details that you may think we need to be aware on this thread .
You keep 80-100% not 100% and its an annual billing plan not monthly .
