| Started | $10,000 |
|---|---|
| Buy Power | $11,385 |
| Cash | $11,385 |
| Equity | $0 |
| Cumulative $ | $1,385 |
| Total System Equity | $11,385 |
| Margined | $0 |
| Open P/L | $0  |
Sometimes the computer gives alarms - the stock market is going to crash tomorrow! While stock market goes through a correction now, daily predictions do not seem to correlate well with actual market performance overall. But top ranked predictions are good - as seen by results.
Second, we plan to move from Colective2.com to Covestor.com
- On Colective2.com the system developers has to pay a fee, while on Covestor.com the system developer does not pay a fee, but it is required to actually trade.
- On Colective2.com developers are payed a fixed commission by subscriber, while on Covestor.com, you seem to be paid % of profit.
- Also Collective2.com seems to look more and more like an elaborated scam. I recommend first reading this forum thread. Why I think it is a scam: because there is a quality bar for systems on C2 - we actually pay to post results here, and this makes all things different. One can use the collective intelligence of the systems to make money - and this should work since we pay a fee to be here.
C2 claims that they don't trade based on systems, nor they offer results or aggregate of results to third parties. But if I would be a unethical hedge fund manager, creating a web site where people would actually pay money to post systems, would be a fantastic way to make money. Businesses don't have to be ethical, just legal!
Even it is not so, the way C2 treads subscribers vs. system developers makes the system to act like a well through scam:
- system developers pay a fee to be on the system an post results, that makes for good quality signals than what you will find somewhere else,
- system developers in the beginning have to offer systems for free or extremely cheap
- system signal became public to everyone, making every system available for reverse engineering to anyone, even if they are not registered on the site, or if they are not subscribers
- subscribers can cancel a free, or pay for profit period before the completion
- there is no way of knowing the quality of a subscriber and C2 does not have any features help with that (I want to know how many times a subscriber leaved a system after a certain drawn down, of before the end of a free period, or before the end of a profitable "pay for profitable" period.
Now, if C2 is not a scam, then it is really a poor business for what a system developer is paying. I am a software engineer, and seems inadmissible to me for a 7+ year old software to have so many basic problems and so many asks and suggestions for improvement from developers, and all seem to be ignored. Just read C2's forum.
I might be wrong on both accounts, but definitively, I will move to Covestor.com as soon as possible, it makes more business sense.
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