Hey so I am new here, I recently encountered (through Facebook) a crowd-funding project for robotic trading. This coincided with a friend and myself talking about robotic trading but we are still new to the game and I wondered what people a little more advanced than we were thought of the project. As I said I am new here and not certain where the right place for this is so please let me know if I should move this thread.

Apparently I cannot post links but it is on Indiegogo as 'Bringing Robotic Trading to the People'

Thanks in advance for the feedback.

Eledex

Channeling my inner Mike here I will just say take some time to learn about trading before you think about giving anyone money to trade for you, and if not just give the money to charity instead, it will go towards a better purpose.

By and large, profitable automated trading for the retail trader is a myth. Most people who start out on that path, myself included, end up ditching it in favor of learning how to trade and then later only work on it in their spare time, if that. Reason being price does the same things over and over again, but it does it differently every time, so creating a formula to capture that is nearly impossible, you just end up chasing your tail. I'm not saying it can't be done, but you won't do it in a few months, it will take years.

And please don't buy a system for gawd's sake. Any fool can create an optimized system that backtests well and sell it. You won't make money using them. Think about it, make a system and offer a free trial. Even if the system is total crap, it will still make lots of money on some days, so you can always get some idiot to pay for it after they've used it for a day or two profitably. It's a classic con.

If your talking about Rustin Raleigh's robot, don't waste your time or money. Not a single one of his commercially available robots were worth 10 cents.

To get started in the area, you should be comfortable with the right terminology: robots are electro-mechanical machines, so it is inappropriate to call what you're looking for as "robotic trading".

Secondly, I don't know what project this is, but nothing good can come out of crowd-funding. If there's other people's money involved, in today's environment, you need minimum $70+ million to do something with comfortable, long-term survival prospects. I don't think I've seen crowd-funded projects reach this mass. If it's only your own money, I'd divide by a factor of 50: $1.4 million. I know I'm going to get very little credit for saying this (someone is going to come in and say he made a living trading his own, highly-leveraged account of $100,000 or something) but you can do the calculations yourself: a plumbing company generates on average, $300,000 revenue per year per full-time equivalent. (The economies of scale worsen when it's a one-man operation, so you expect revenue of <<$300,000 per year for a one-man plumber, but let's assume a plumber makes $300,000 revenue per year.) How much % per year must you be making to generate a plumber's salary?

SarahKrantz 

If your talking about Rustin Raleigh's robot, don't waste your time or money. Not a single one of his commercially available robots were worth 10 cents.

Yes, he's talking about this project: AutoDayTrade.com

So, IMO the thread should be moved to the 'Vendors and Product Reviews' section.