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The following is my personal opinion from personal experience. I do not receive compensation from nor have an interest in any company mentioned nor do I have a personal ax to grind .
There are at least two companies that I am aware of that publish performance statistics of commercial systems.
Automated Systems work up until they stop working. Depending on when you measure performance, the same system can look like a winner or a loser. I have never seen one that continued to perform over any extended periods.
If a system vendor offers you a free trial, offer them a better deal, they provide you with their system, train you how to use it and you will split the trading profits with them. See how many accept your offer.
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
Can you help answer these questions from other members on NexusFi?
I lived in a bunker like compound underneath the earth surface for a few years...those were the best days of my life...you cannot imagine what a complete silence does to your nervous system...
I could sure use some of that! How do I get there from here? Do they rent by the day, week, month or year (ha ha). Getting older & running a retail biz takes its toll on the nervous system and I don't drink, so my options are very limited. Do you miss it?
After all, it's what you learn AFTER you know it all, that counts!
I'm embarassed to admit I was a subscriber to the ViperAT for a couple of months. I appreciate your research and evaluation - only wish I had found your posts prior to subscribing. In the event anyone else posting here - who has not actually used the autotrader strategies live - doubts the validity of your evaluation and observations, I can assure you that I am in full agreement with your conclusions.
Thank you Zoe for you fine review of Viper Trading Systems. I too was a subscriber to their Viper and then autotrading software. Although I did well in the initial two months after release of TF it soon fell apart in Dec and has been downhill ever since. The other products are crap also. Thankfully I was in sim on everything except TF in the beginning.
What angers me the most was no guidance as to when these ATer's should be used, other then big news days. Do we look at pre-market, last 5, 10 or 30 days, etc. Paying $299 + $99 should garner more guidance then just don't trade on certain days. I can do better playing craps.
Their latest products, Scalper and AutoassistCrap, are doomed also. Take a close look at the spreadsheet they sent out for Scalper and you will find the risk/reward ratio is very poor.
The initial Viper System I find somewhat useful. For me. it makes sense visually and can be downloaded for free at MyPivots.com (another great site!). I am playing with other indicators and will report back if there is anything worthwhile.
The AT systems using Viper's official guidance have an average win rate between 50-56%, which is nowhere near what they need to be profitable with those risk/reward numbers, the best of which is 6/5 or risk $120 to make $100. (And that is before the rake of commissions and a $299 monthly fee.)
A trading system with a negative risk/reward is analogous to "laying" odds 100% of the time as if betting on a favorite in a sporting event. It will lead to ruin in short order.
