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Just to be clear - I am still working on an algo. When an algo is traded using signals only, I will post performance per guidelines. These are trading templates. A guide. If this template package was an algo, it would cost you a lot more than $1K a year. Just saying.
Can you help answer these questions from other members on NexusFi?
From the article: "For example, the question, “Do you trade this method with your own money and could you show me proof?” is always a good one to ask. If you get an indignant reply in return, you are likely dealing with a cult of personality. "
Before publication, this article was reviewed by lawyers and industry professionals. If showing proof was illegal, this paragraph would have been stricken by the editor before publication.
And since publication, no one from CFTC or NFA has told me or the people at Modern Trader that this advice was illegal.
Hi, I am not concerned by the argument discussed here but i am curious to know why you consider Renko chart as BS? If i remember well, i think this member of futures.io @RJay has developed a Renko bar type which addressed the pitfalls of the native NT Renko bar type.
Yea, Kevin, I'm working on it massa. I agree with you. When an algo is created I will post performance and then make outlandish claims that you can get mad about. But this is a trading template, a trading guide, a bumper car for new BloodHound users. Give me a break. I am doing the best I can here. Not bothering anyone. Keeping my head down. Doing my own thing. Jeez. But I absolutely am working on it. Make no mistake. I am not deceiving anyone. When my algo is finished, it will be that good.
I have played around with and tested RJay's Spectrum bar type. If it was such a holy grail RJay would have been making money from trading it than selling it for a couple of hundred dollars.
Renko bars are good for smoothing out the noise and viewing the trend, support/resistance and not much more. All the vendors who can't trade or find it difficult to sell indicators and systems on standard bar types move to renko bar types because its easier to sell them to newbies.
You are wily, I'll give you credit. You've gone from "it is illegal to post performance" (not true) to "I am only selling a trading template, not an algo" to "I'm working on it, it will be great" to finally playing the sympathy card "not bothering anyone. Keeping my head down."
Some readers probably have forgotten the original question through this smokescreen: "can you prove the product works for you?" That question still remains.
Yet you are selling a product to allegedly help other traders, and that you supposedly use yourself, yet you can't/won't show how well it works for you?
With respect, a 'template' is one or two steps short of an 'algo'. A template implies some kind of performance else how is this different to a template that I can download from the downloads on this site? What then am I paying for?
This is just TESTING my algo for new combine started June 6. The algo is not completed. I feel I have the right tools to get in done. And am excited. I have worked very hard over the past few years and am committed to getting it done. Please note futures trading contains substantial risk and is not for every investor. Past performance is not indicative of future results. Please see full risk disclosures on my website.
I've created systems using renko bars. They mean nothing until you forward test them. As a suggestion leave your system running on a particular market for a few days and then report back on the results. If you can show good results you will find a multitude of takers for your 'template'. Hell, I'll buy one.