Shakone
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Still have no idea what you're offering in terms of 'advanced risk management' or even what is different from metatrader in terms of strategy development, but anyway, good luck.
Feedback is appreciated - simplifying automated trading
Still have no idea what you're offering in terms of 'advanced risk management' or even what is different from metatrader in terms of strategy development, but anyway, good luck.
Thanks
And if you would like to find out please talk to us.
While 'honest' is word too often thrown around, we honestly would like to talk, so can build tools and features that will benefit you.
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Purple Brain
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The real clincher for me is that anyone with a profitable strategy is not going to need to automate it.
You guys (Magick) are technologists - not traders. Which is why you think you're onto a winner. You'll focus on those that don't have profitable strategies - but think they do. And remove their capital even quicker.
I guess I should applaud your realisation that you won't get rich from trading - but you might form those that think they will.
You guys (Magick) are technologists - not traders. Which is why you think you're onto a winner. You'll focus on those that don't have profitable strategies - but think they do. And remove their capital even quicker.
I guess I should applaud your realisation that you won't get rich from trading - but you might form those that think they will.
Interestingly, most retail/private traders lose money. FXCM will often recommend taking opposite positions to the retail cluster. Why is that? Well there is probably many reasons. And one reason we see is there is a significant technological gap between the instituional and retail trader. We seeking to make some of the technology that the institutional investors use accessible to the retail investor.
And even if you have a profitable strategy, here are some reasons to automate it -this is an article I wrote some time ago - http://www.tradingfloor.com/posts/7-reasons-to-consider-or-not-automated-trading-1307377116
Purple Brain
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The majority of retail traders lose money because their losing trades lose them more than their winning trades win them.
Automating their faulty logic will simply help them lose it more quickly. Especially when you add in the fees they will need to pay you for your services.
The reasons brokers make money from their clients has little to nothing to do with trading.
If you really want to give retail traders the same benefits and advantages of a brokerage - set up a co-operative brokerage where traders can invest in providing liquidity to other retail traders and be rewarded pro rata for their investment.
Automating their faulty logic will simply help them lose it more quickly. Especially when you add in the fees they will need to pay you for your services.
The reasons brokers make money from their clients has little to nothing to do with trading.
If you really want to give retail traders the same benefits and advantages of a brokerage - set up a co-operative brokerage where traders can invest in providing liquidity to other retail traders and be rewarded pro rata for their investment.
"The majority of retail traders lose money because their losing trades lose them more than their winning trades win them." Obviously. That doesnt event need to be stated. But, the essence is bad money management. A good trader has a strategy, which included money management. A great trader actually uses their strategy.
Your statement "The reasons brokers make money from their clients has little to nothing to do with trading." make absolutely no sense. Care to clarify?
Please assume I have never worked for a broker, and enlighten me as to how brokers make money.
And I never said I wanted to give retail traders the same advantages as a brokerage. I think you are confusing brokers with institutional traders.
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Purple Brain
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Actually, it does. When the data supporting that point was posted recently it came as something of a surprise to many.
None of which are provided by your product. Each trader has to bring those to the party themselves.
You want me to clarify why that statement makes no sense or you want me to clarify it so that it makes sense for you? I’ll take a guess the latter as nobody else seems to have had a problem understanding it. Brokers don’t make money trading, but by facilitating trading for their clients.
Rather than having me jump through hoops and make assumptions about who you might or might not be, perhaps you'd care to identify yourself? Certainly none of the public trio of Magick partners has direct or particularly relevant institutional expertise. If you genuinely don’t know how brokers make money then try google. Alternatively, tone down the arrogant and patronising manner and ask again nicely.
Or rather, don’t bother. The way you have handled yourself in this thread and the tone and content of your responses has been unhelpful and bordering on aggressive. We’re still really none the wiser on what you’re offering - even after looking at your website. All I am doing by engaging with you is keeping your company in the upper echelon of search results. This is my last post on this thread and this topic.
Hi Purple Brain
Thanks for your feedback about our website - and I agree, we are not making our product clear. However we are still in the phase of actively seeking advice on from traders on the feature set.
Regarding the identities of the founders, I would have though our website would have made it very clear - that we do have industry experience, and a diverse range of experience. Plus, you will find links in this thread to a industry press release and articles.
And thanks for clarify. Yes, youre right. Brokers primarily make money from facility trading services. And if a trader is b-booked, brokers can profit on that too.
