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Dear Bryan:
I wish you "Good luck" too.
What I would do in your situation? First, I would review my objectives.
Having developing such a system (working system), I would like not only
recover my investment in time and efforts, but to accumulate some wealth
for the future. That goal in mind would expend my time horizon and
influence my strategy.
Next, I would assemble a minimum amount of money to start trading of one
contract in anything your system would allow me to trade (whenever the
capital requirement is the lowest). I am not an expert, but maybe Mid
American Exchange or somewhere else you could start with very small
capital. My primary goal would be not to make a ton of money but to
assemble the real time track record and prove to myself (and in the future
to others) that the system could work in practice. Any money you will make
would be an extra bonus.
Proving the system I would look for the partnership with not very wealthy
individual, but some one who could lose some money without much pain
(financially and psychological). I would explain him (her) clearly how the
system works, help him to "check the system out" mining to go through price
history and apply the principals of the system to produce trades. I will
prove to him that my real time trading is "real". Then I would trade
partnership money until the investor is richly reworded for his (her) risk
and I have enough money to continue my way to the wealth.
Yours, Alex.
At 04:45 AM 8/26/99 -0600, Earl Adamy wrote:
>Welcome to the world of selling trading systems - where there is a great
>deal of well-earned distrust on the part of professional traders and lots of
>competition. Without a proven real-time trading record, you are unlikely to
>obtain a job or large cash payment for any system. The large institutions
>already have payrolls loaded with advanced degree specialists in computer
>science, mathematics, artificial intelligence and other disciplines related
>to trading systems development. Your best route may be to lease the system
>to a number of individuals, however you are going to need funds for
>marketing and you are still going to need an independently certified
>real-time track record or you will have to provide a long enough free trial
>period for your prospects to become comfortable with the system. Good luck.
>
>Earl
>
>----- Original Message -----
>From: Bryan Finnegan <TeamData@xxxxxxxxxxxxxxxx>
>To: Real Traders <Realtraders@xxxxxxxxxxxx>
>Sent: Wednesday, August 25, 1999 8:46 PM
>Subject: Recovering Investment in Trading System
>
>
>> After 4+ years of effort, I have finally developed a Tradestation trading
>> system that I am happy with. It consistently works on almost any chart,
>in
>> any time frame. My problem is I don't have any funds to trade this system
>> and I have ABSOLUTELY NO DESIRE to sell it on the open market. I have
>over
>> 1,000 hours invested in developing this system and the hundreds of
>attempts
>> that came before it. Now I have a system that is robust enough to allow
>me
>> to
>> recoup part of my investment.
>>
>> The hurdle is: if I don't have the money to trade it, and I am unwilling
>> to sell it to other traders, the only options I can come up with is to
>> license the software to an institution, or perhaps take a job with a
>> mutual fund or brokerage firm. This would be a career change for
>> me, I now work as a systems analyst/business manager.
>>
>> I am appealing to the group for the following:
>> 1. Anyone had a similar situation? How did you deal with it?
>> 2. Anyone located in Northern Ohio interested in hiring a person with
>my
>> skill set?
>> 3. Any RealTraders ever go through the experience of licensing a
>trading
>> system
>> to large institutions or hedge fund?
>>
>> BONUS: I am serious in this e-mail and would appreciate as much input as
>> possible.
>> To anyone who can help, I will provide a "general insight" that helped me
>> get over the hump.
>>
>> Thanks
>>
>> Bryan Finnegan
>> Cleveland, OH
>> 440-333-3378
>>
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