I decided to put this question out to find out how traders think, simply put;
If there was a trading system, (manual/EA) that would double your account whatever the size, every month with an 80 % accuracy....and you saw proof, would you be willing to pay $500 bucks for it?
Please this is not an advert of any sort, I just want your opinions.
Extraordinary claim requires extraordinary evidence, as Carl Sagan put it.
Doubling an account every month is too good to be true. With $10,000 investment, you would be a millionaire within a year, or a billionaire within two years. Extraordinary claim.
The extraordinary proof for that is the user name and password to the trading account. You would log in to the trading platform yourself and verify the claims. My criteria are: 1. The account trades real money. 2. The trading have been recorded for at least a year.
Screenshots and off-site statements could be faked. Scammers are known to do this.
Depends on the risk involved. It would have to be open source and not hidden in an EA if was ever going to part money for a trading system.
Agree with Scorpion. If I were going to sell a trading system I would actually get it audited by a top 4 accountancy firm and have ultimate proof. As of yet I have never seen a trading system provider do this.
I can only imagine that they have never traded the systems they are selling with real money and/or the results don't match the marketing material.
In other words doubling one's account every month is a myth, well I have come across many systems that claim to do so, and while I never really believed them, even though I tried some. I believe in the possibility itself, and I'm working towards it...
Scorpion said it best...trading a live account for at least a year...
"believe in the possibility itself, and I'm working towards it.."
but why? There are multi millionaires out there making 20-30% a year?
$ 500 is to cheap
That's impossible. If there is a system like that exists, then he wouldn't need to sell the software in the first place. He will become a billionaire in no time, why bother selling softwares for $500 a piece?
two things Hooya
-- The key word there is multi-millionaires...if you were asked to throw a dollar away on a jackpot machine..u might consider it on a whim... if it were 10,000 you'd of course keep your money, its the normal human instinct of risk management. I hope you catch my drift
-- No body should confine himself/herself by prevalent conditions, progress was never made following what works, you gotta envision something in you head and then who knows, u might invent a teleportation machine....lol.
I do not fear failure, if I fail - then I'd be proud that I tried
LMAO that's what I think when I see expert advisors for sale... but then again I have sold a trading system via this forum so I wont talk too much
i mean if with just $500 can make u a millioniare in 1 or 2 years, $500 is to cheap...go for it!!
" do not fear failure, if I fail - then I'd be proud that I tried"
Thats great but no self-help motivational mantra will make it come true. The system has to be profitable, the number back it up and trying to double your account every month is dream that will take your focus away from devising a solid trading career which you can rely on for years to come.