Wugot has chosen to remove the free trial period.NO more free. Trading is seriosu business for seriosu people. If C2 makes the results live, you have plenty time to see them and make up your mind. I hate people who join for free and chose to disconnect because they were not serious. This time is over. Either you want it or stay away.
For those who chose to be part of the ride. Welcome to the long ride.
Lejeune Bauvil for Wugot strategy.
They want to try it live to know if there is slippage , you use stoplosses or not … etc . You cant know this information from the track record , one week free trial isnt a big deal .
What you mean?
Should I provide longer than 1 week free?
or no free is good?
If they see the results and they want to see all this; it will now cost them $150 to find out.
I would better have them stay away othern than taking the free ride and not having money to pay or to trade.
This is what I do not want to see.
For me, as C2 user, it is important to try a strategy for free before paying for it. TSH mentioned some reasons above - not all things are visible from the trading record.
The positions are shown only when they are completely closed which can sometimes take a long time. Stop loss and Profit targets, currently opened positions, partially closed positions - this is good to know before joining.
The cancelled users don’t necessary mean they traded your system for a week for free and went away - it can mean they watched your system and decided it is not good for them. Watching it life is much better experience than to study past trades. It gives user better feeling about trading style in the current market situation.
One more example - I almost joined one system which had good trading record with high win ratio and not many losses. Only when I joined it in the test period I noticed it holds to some loosing positions for months and waits till (and if) they recover.
This is not possible to see unless you join it.
As a user, I appreciate systems with test periods. It is not to ride them for free but to get more confidence with the trading style. If the system is good, it will confirm my interest in it. If it is not as good as it can be guessed from the trading record, free test can help to spot it.
I meant one week isnt a big deal for you as a developer you wont lose anything . Infact maybe the best way to start is to give the system for free until you build a good client base then you start charging i read that advice somewhere maybe MK could give advice here …
Everything you say is true and correct. I agree with all of them. However, if somone is serious about trading or possibly making money from a good system, $150 to see the taste is not a big deal either.
Yes not a big deal but they wont pay to try it …
I guess they will have to see the result after. The system could have been just like many others, you pay in advance.
I can understand a subscriber wanting to know the developer’s trading style. But, if the subscriber really can judge what style really works in the long run, they should develop or trade their own system. Often, subscribers seek a style that mimics their own (usually losing) trading methods.
The questions that someone might want answered before subscribing can be asked via a PM to the system creator.
What about slippage ? There are many other stuff that cant be answered by pm .
For example maybe some are not looking to auto trade the system so they want to see if it is possible to copy the developer manually … etc .
Thanks for your all your advicse. From now on until I change my mind, wugot will not offer anymore free trial.
I live in a state where you have to buy a case of beer just to taste it. (well, it got better but for the analogy I will use this old fact)
So I go to the beer distributer and if I see an interesting beer, specially if it isn’t even cheap, I still have to pay for a full case that could be 50-80-100 bucks so just I can figure out that I don’t like the taste.
Now lately it got better because now I can buy most beers in 6 packs. It is still not just 1 bottle, but much cheaper and less waste than buying a case.
You see the same with free trial periods. Why would they pay %150 just to realize after 1-2 days that it isn’t for their taste?
Hell, my system was free for 4 months before I started to charge…
There really isn’t any risk to the subscriber. The risk is to the vendor. From C2 Terms of Service
2C. How we handle your customers’ asking for refunds. It is our policy to refund money to system subscribers when they express unhappiness. Indeed, we are often forced to do so by our credit card processing companies and associated banks. Any amount refunded to your subscribers will be deducted from future remittance cycles. If you do not have a large enough balance to cover the refund amount and associated fees, then you agree that Collective2 will charge your credit card for the amount we are owed but which your balance at Collective2 does not cover.
That was the way you handle your business. I can try for 2 days just for people to see that I do not have any open trade hidden, but the system seems does not allow me.
My point of view:
you need more time - al least 6 months record to cancel free trial.
you also need great result to do this.
I did this 2 weeks ago and i am happy with the results.
my system which deals with options can sometimes bring bigorder flow of Bid-ask and i don’t want too much subscribers.
im my systems the “free” help to made bad fills to the paying friends.
after cutting the free in Crazy options people move to my other 2 systems that still have 1 week free lunch.
i cut subsbribers with 2/3 but we still have each months new followers.
if you have less then 50 followers (including “free”) you should be happy if you have now 5 (1:10 is regular).
when you have amazing ststem you can pray for 1:5 stay with you.
please don’t forget that after deleting the “free” if you give it back you don’t like serious and people can understand this as low followers system.
I love your point of view, but you just miss some good wins with wugot.
There are thousands of bad systems out there. How much do you spend in the process of eliminating the wheat from the chaff ? If the system is really good, believe me, even if you put a gun to their head, they won’t leave.