One of the biggest questions in a new trader’s mind is “Why would someone sell their strategy if it works? Won’t everyone start using it?”
This is a common misconception. There is zero reason to keep a good strategy to yourself. The currency market is so incredibly huge that hundreds or even thousands of retail traders using it won’t move the market. All retail traders work with a broker, the market maker, which closely align with the actual forex market, not in the actual market. It’s no different than a sports book. Institutional traders and banks move the market and they don’t care what we do, we are a drop in the ocean.
So if your strategies are profitable, why do you need to sell them, don’t you make enough money from your trading?
Good question! There isn’t a rich person on the planet that has one stream of income, they have multiple, some too many to count. This site was created to provide strategies to people who desprately need them. Just one more of many streams of income. Easy answer is: These strategies have market value, they are valuable to retail traders. This allows additional income to be made on the strategies already backtested and forward tested to be profitable. So my question would be to you: Are you trading to make money? If you had a valuable product you were using and could make additional money outside of trading them wouldn’t you sell them? Rhetorical questions…of course you would.
What if I buy a trading strategy and it doesn’t work for me?
Another great question. All of our strategies available for purchase should be tested yourself before risking any of your own capital, backtested with your current broker’s data. All brokers can have slightly different data because they are all independently creating the market for you, although it should be very very close as they all try to mirror the actual currency market in real time. Also, backtesting lets you ‘live’ through a significant number of trades, usually hundreds. Even though you aren’t trading the market live, you still get emotional when you have a string of winners or losers in a row. Afterward, you have confidence in the long term use of any profitable strategy because you’ve seen the ups and downs and won’t be as emotional, which can be detrimental to any strategy. Changing the strategy on the fly, not following the rules, is one of the biggest reasons retail traders fail to make money. This seperates the 90% who lose all their money and the 10% who are consistently profitable.
What if I have additional questions after learning one of the strategies?
As long as Elite Trader FX exists you can use our contact form to submit any questions you have and most do have questions. We try to be as thorough as possible when you receive access to a strategy but naturally questions always arise when learning something new. A lot of questions have to do with breaking the rules. All of ETFX’s strategies are ‘rules based’ technical strategies and altering them is up to you and can certainly do so. We can only encourage you if you do alter or tweak a strategy, to thoroughly backtest all over again to ensure profitability and once again instill confidence from as much data/trades as possible.
I’ve seen many supposedly profitable strategies for sale for significantly less, why are yours more than the others I’ve seen?
We can’t speak for any other strategies sold by others but as the saying goes, “you get what you pay for”. Our strategies have been manually backtested and sometimes programatically by our software engineer, trade by trade on years worth of data for the currency pairs we recommend trading them on. As any product that exists, much effort is put into determining a fair market value, which is the price people are willing to pay for the product or service along with perceived value. Sure, we could sell our strategies for less but they are worth it and priced accordingly. Period. The hard work of thousands of hours researching and backtesting data doesn’t come cheap, not to mention the identification of a consistently profitable strategy in the first place. The benefit of time saved and entering the market with your best foot foward saves countless more dollars than the upfront cost. If you can’t afford to put yourself in the best position to be profitable, trading may not be for you as it all comes naturally with inherent risk. We are confident through our satisfied traders that our service and support are worth it.
We hope this was a good synopsis or glimpse of who we are and why we sell. As always any additional questions can be sent to us through our contact forms.
Good luck traders! – ETFX
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