Buying an indicator, system, etc

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poststreet

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When i buy a weedwacker, i expect it to down weeds, when i buy a car, it will get me to where i wish to go, when i buy a hammer, i expect it to whack nails for a few good years, so what should i expect when i buy an indicator etc? I've never sold an indi or system, so i don't know. i know what the expectation of the buyer is ,
i want to make money with the indicator . so ethically what is a a seller's responsibilty?
 
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Trader Raider

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so what should i expect when i buy an indicator etc?
The same thing you would expect from any other sales person. For example, when I buy a car, I always ask the sales rep what he drives. I've NEVER had a rep who drives the same brand he sells. That tells me he isn't a big believer in what he sells and is in it solely for the commission. Therefore I take anything he tells me about the car with a grain of salt because he doesn't believe it enough to drive it himself.

Same goes for people who sell indicators. It's all well and good for them to cherry pick trades, but it's a rare person who will disclose their ENTIRE account with wins and losses. That should tell you something about what to expect in terms of the indicator's success. If the entire account isn't disclosed, assume you're being shown cherry-picked results.

i want to make money with the indicator . so ethically what is a a seller's responsibilty?
The seller's responsibility is to provide the product in the manner described and at the agreed-upon price. It's not his responsibility to see that you use the indicator correctly. Or that you are profitable with it. No indicator will work in all market conditions.

You and the seller both want to make money. You want to do it in the market. He wants to do it selling you something. To my way of thinking, the better question isn't about the seller's ethics. It's why the seller isn't using the indicator to amass a fortune himself. If you had the secret sauce, would you use it to make a fortune, or would you sell it to others?
 
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poststreet

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but often part of the spiel is " i just wanted to share and give back" ?

"If you had the secret sauce, would you use it to make a fortune, or would you sell it to others? "
so if i believe that , noone is to be trusted , since noone would share? just asking?

i kinda think im not gullible but i have purchased my share of indis and systems, and here i am still searching,,, since 2003 .

i had a roofer this weekend look at the flashing on my roof, told me 1200, i told him exactly that i would pay him 1200 as soon as he finished,
next morning called me asking for 600 for materials, i told him we discussed this and i told him he would get paid on completion. he hung up !
no wonder the price was good.
 
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Trader Raider

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@poststreet, the problem with sharing and giving back is that you don't know what's being shared. Unless you see the account, you don't know whether the seller is profitable with the indicator. Even then, you don't know if he's trading with the indicator or something else.

I'm sure there are altruistic types who may be inclined to share and give back. But I think many people would guard their "secret sauce" because making it known rather defeats the purpose.

Full disclosure: I've purchased my share of indicators. I don't use ANY of them now. I use fibs and MACD, both freely available on most charting platforms. If I buy anything in the future, it will be something that organizes data and saves me time preparing charts. I was very gullible and a big sucker for marketing gimmicks. YMMV.

Best wishes.
 

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