Basis Ii Trading System

Hva er et handelssystem. Van K Tharp, Ph D. Traders spør oss hele tiden Hva er et system Formålet med denne artikkelen er å gi deg den informasjonen så tydelig som mulig Først skal vi gå gjennom litt bakgrunnsinformasjon til hjelper deg å forstå hva et system er utenfor handelskonteksten Du lærer hvordan forskjellige mennesker relaterer seg til systemer i henhold til hvordan de relaterer seg til penger. Den andre delen av denne artikkelen vil fokusere på å tydelig definere hva et handelssystem er. Den tredje delen av dette artikkelen vil fokusere på det bredere bildet av systemet ditt din handelsplan. Endelig vil vi fokusere på noen sentrale elementer i systemutviklingen. I Robert Kiyosaki s bok, Cash-Flow Quadrant, skiller han ut to typer mennesker som jobber for penger og to typer folk som har penger som jobber for dem I hvert tilfelle er et av de store kjennetegnene hvordan de håndterer systemer. Først, la oss se på ideen om forretningssystemer McDonald s, som en viktig franchise, er grunnleggende alliert et stort sett med systemer som man kjøper Faktisk, en person som kjøper en McDonald s-franchise må gå til Hamburger University i omtrent seks måneder Jeg tror at det er lengden av det å lære systemene for drift av franchisen Det er systemer for mat levering, forbereder mat, hilsen kunder, serverer dem i løpet av et minutt, opprydding osv. Og alle disse systemene kan enkelt utføres av en leder som har en høyskole-grad og ansatte som kanskje til og med er high school dropouts Med andre ord, et system er noe som er repeterbart, enkelt nok til å bli drevet av en 16 år gammel som kanskje ikke er så lyst og fungerer godt nok til å holde mange tilbake som kunder. Nå, da vi kjenner den definisjonen av et system, la vi se på hvordan folk I de fire kontantstrømmene er kvadranter knyttet til systemer. Medarbeiderne er i utgangspunktet motivert av sikkerhet. De har jobb og de gjør sitt arbeid for å få penger. Ansatte driver i utgangspunktet systemene. De vet ikke nødvendigvis at de kjører en syst em, men det er deres funksjon. For eksempel vil en ansatt hos McDonald s hilse på kunder og ta sin ordre. Denne medarbeider kjører i utgangspunktet kundehilsen. De fleste ansatte forstår ikke systemer. I stedet vet de bare hva jobben deres er. Og dette er typisk for ansatte som blir handelsmenn eller ansatte som jobber som handelsfolk. De stiller vanligvis spørsmål som Hvilke aksjer skal jeg kjøpe. Hva skal markedet gjøre? Eller hvordan går jeg om å gjøre dette? Vi ser det hele tiden i de spørsmålene vi får For eksempel ringte en gentleman bare til CNBC, da jeg skrev dette, og spurte gjesten: Hvilken retning tror du at markedet kan gå med respekt for krigen, og hvordan kan man tjene på det? Dette er vanligvis ansattes spørsmål Og de beløper seg å si, jeg forstår ikke noe, vennligst fortell meg hva du skal gjøre. De finansielle media trives ved å svare på spørsmålene fra den medarbeide investorer. Den selvstendig næringsdrivende Den selvstendig næringsdrivende er i utgangspunktet motivert av kontroller og gjør det riktig Legg merke til at jeg ofte har snakket om hvordan disse motivasjonene utgjør noen av de forstyrrelser som de fleste handlende har behov for å være riktig og behovet for å kontrollere markedene. Selvstendig næringsdrivende er hele systemet. De kjører i utgangspunktet på en tredemølle bare de vet det ikke, og jo mer de jobber, jo mer slitne får de. I likhet med medarbeider jobber selvstendig næringsdrivende for penger. De liker det litt bedre, fordi de er ansvarlige. De tenker å jobbe hardere vil gjøre dem mer penger og til en viss grad gjør det Men det meste, arbeider hardere blir dem slitne Ikke desto mindre fortsetter de å pløye fremover og tenker at de er de eneste som kan gjøre det riktig. Som jeg tidligere sa, var selvstendig næringsdrivende i utgangspunktet er systemet og ganske ofte kan de ikke se systemet fordi de er så mye en del av det. De sitter fast i alle detaljer I tillegg har de en sterk tendens til å ønske å kompleksere ting. De leter alltid etter perfec tionisme, og de tror at det perfekte systemet må være komplekst. De spør alltid. Hva vil gjøre systemet perfekt. Mange kommer inn i handel fra selvstendige doktorgradspersoner, tannleger og andre fagfolk som hadde sin egen småbedrift i som de var stort sett alle systemene i ett Dette er alt de pleier å vite, og de nærmer seg handel på samme måte. De fortsetter å legge til kompleksitet til det virker, selv om denne strategien sjelden virker. Selvstendig næringsdrivende ville sannsynligvis ha en skjønn system som hele tiden blir endret. Bedriftseieren En god bedriftseier burde kunne gå bort fra virksomheten i et år og komme tilbake for å finne det kjører bedre enn før. Mens dette er en ideell type erklæring, har den noen teoretisk sannhet til det Dette bør skje fordi jobben til bedriftseieren er å designe en gruppe systemer for å drive virksomheten så godt at hans ansatte kan gjøre jobben for seg selv eller i det minste med en leder i p blonder Med andre ord er bedriftseieren noen som designer systemer, og disse er vanligvis enkle systemer. Bedriftseieren gjør det vanligvis veldig bra i handelsarenaen hvis de nærmer seg prosessen på samme måte som de har en virksomhet før og selvfølgelig , vil bedriftseieren vanligvis ansette noen til å kjøre sitt handelssystem, med en mye lavere lønn. Når Tom Basso, 1 som er intervjuet i The New Market Wizards, gjorde workshops med meg, beskrev han alltid seg som en forretningsmann først og en handelsmann andre En del av Tom s perspektiv var å se etter gjentatte oppgaver som et menneske i organisasjonen må gjenta igjen og igjen. Da han fant slike oppgaver, var hans jobb å utvikle et program for å ta den oppgaven ut av menneskelige hender. Rutinemessige dataprogrammer er gode eksempler på enkle systemer. Investor Den siste personen på kvadranten er investor. Investoren er noen som investerer i bedrifter, og hans viktigste kriterium skal være: Hva er avkastningen til de Virksomhet Med andre ord fortsetter denne personen å spørre: Hvis jeg legger penger i denne investeringen, hvilken type avkastning vil jeg få på det? Høye avkastningsinvesteringer, for eksempel høy avkastning på egenkapitalen, er typisk gode bedrifter for å sette pengene dine. Robert Kiyosaki beskriver dette som kvadranten hvor penger konverteres til rikdom. Rike mennesker, ifølge Kiyosaki, oppnår 70 av inntektene sine fra investeringer og 30 eller mindre av inntekt fra lønn. De fleste handlende er trolig ikke investorer etter denne definisjonen. De kjøper lav eller selger høye trading aksjer Som et resultat er det noe de må gjøre for å generere sine penger. Investorer er derimot folk som vanligvis ser etter steder hvor de kan sette pengene sine som genererer avkastning på 25 eller høyere uten at de gjør noe hvis du vet hvordan du får slike typer avkastninger, da vil du holde fast på disse investeringene så lenge som mulig. Mange høyteknologiske aksjer viste økt inntjeningsvekst på godt over 25, og da de gjorde det, var den første ces gikk opp dramatisk fordi dette er hva investorer vil Problemet med slike investeringer er at de ikke garanteres å fortsette for alltid Mange av dere har sikkert oppdaget at de siste årene. Hva er et handelssystem. Hva folk tenker på som en handel system, ville jeg ringe en handelsstrategi. Dette ville bestå av åtte deler. Et marked filter. S et up conditions. A n inngangssignal. En verste tilfelle stopper tap. R e-post når det er hensiktsmessig. En posisjon limingsalgoritme, og. Du trenger flere systemer for ulike markedsforhold. Et markedsfilter er en måte å se på markedet for å avgjøre om markedet passer for systemet. Vi kan for eksempel ha rolige trendingmarkeder, volatile trendmarkeder, flate stille markeder, og flate volatile markeder Og selvfølgelig kan de trendende markedene enten være bullish eller bearish. Systemet kan bare fungere godt i en av disse markedsforholdene. Som et resultat trenger du et filter for å avgjøre om systemet har stor sannsynlighet for arbeider Bør du handle med systemet ditt eller ikke? Oppsettforholdene er avhengig av dine screeningskriterier. For eksempel, hvis du handler aksjer, er det 7000 aksjer som du kanskje bestemmer deg for å investere til når som helst. Som et resultat bruker de fleste en serie screening kriterium for å redusere det antallet ned til 50 aksjer eller mindre Eksempler på skjermer kan omfatte William O Neil s CANSLIM kriterier 2 eller en verdi skjerm for aksjer med gode PERs eller en god PEG-forhold eller en grunnleggende skjerm som har å gjøre med ledelsen og dens retur på eiendeler Du kan også ha en teknisk oppsett like før du går inn, for eksempel å se på lageret for å gå ned i syv rette dager. Innsignalet ville være et unikt signal som du bruker på aksjer som møter din første skjerm for å bestemme når du kan legge inn en stilling enten lenge eller kort. Det finnes alle slags signaler man kan bruke for oppføring, men det innebærer vanligvis en slags bevegelse i retningen din som oppstår etter at en bestemt oppsett forekommer. Den neste komponenten av deg r handelssystem er ditt beskyttende stopp Dette er det verste fallet du vil oppleve, og det er definert 1R eller den opprinnelige risikoen for deg. Ditt stopp kan være noe verdi som holder deg på lageret i lang tid og 25 dråper i prisen på aksjen eller noe som vil få deg raskt hvis markedet vender mot deg og 25 prosent dråpe. Beskyttende stopp er helt avgjørende. Markeder går ikke opp for alltid, og de går ikke for alltid. Du trenger stopp for å beskytte deg selv. Som jeg sa i handel din måte å finansiell frihet inn i markedet uten en beskyttende stopp er som å kjøre gjennom byen ignorerer røde lys du kan komme til reisemålet ditt til slutt, men sjansene dine for å gjøre det så vel og sikkert er svært slanke. femte komponenten av en handel systemet er din inntaksstrategi. Svært ofte når du blir stoppet ut av en stilling, vil aksjen vende seg i retningen som favoriserer din gamle stilling. Når dette skjer, kan du ha en perfekt sjanse for r fortjeneste som ikke er dekket av de opprinnelige oppsett - og oppførselsforholdene Du må derfor tenke på tilbaketrekningskriterier Når kan du komme tilbake til en lukket stilling Under hvilke forhold vil dette være mulig og hva kriteriene vil utløse din re-entry. The sjette komponenten i et handelssystem er din exit strategi Avgangsstrategien kan være veldig enkel. For eksempel kan det ganske enkelt være et 25 stoppested der du justerer stoppet til 75 av sluttkursen når en lager gjør en ny høy Stoppet er alltid justert opp, aldri nede. Men du kan ha mange mulige utganger i tillegg til et stoppested. For eksempel flytter en stor volatilitet f. eks. 1 5 ganger den gjennomsnittlige daglige volatiliteten mot deg på en enkelt dag er en god utgang Kryss av et betydelig bevegelige gjennomsnitt, for eksempel 50 dagene kan være en god avslutning Tekniske signaler er gode utganger, for eksempel å bryte en betydelig trendlinje. Ekspedisjoner er en av de mest kritiske delene av systemet. Det er en faktor i din handel med som du har total kontroll Og det er dine utganger som kontrollerer hvorvidt du tjener penger på markedet eller har små tap. Du bør bruke mye tid og tenkt på utgangsstrategier. Den syvende delen av systemet ditt er posisjonering algoritme Posisjonsstørrelse er den delen av systemet som styrer hvor mye du handler. Det bestemmer hvor mange aksjer du bør kjøpe. En generell anbefaling vil være å kontinuerlig risikere 1 av porteføljen. Hvis du har en 25 000 portefølje, vil du ikke ha det å risikere mer enn 250. Det er sagt at du ønsket å kjøpe en aksje på 10 Du bestemte deg for å holde et 25 stoppende stopp, noe som betyr at om aksjen falt 25 til 7 50 du ville gå ut av posisjonen din Siden ditt stopp er risikoen per aksje, ville dele den 2 50 risiko til 250 for å bestemme antall aksjer å kjøpe Siden 2 50 går inn i 250 100 ganger, vil du kjøpe 100 aksjer på lager. Merk at du vil kjøpe 1000 aksjer 100 aksjer 10 00 hver eller fire ganger y risikoen på 250 Dette er fornuftig siden stoppet er 25 av kjøpesummen Dermed vil risikoen din være 25 av den totale investeringen Hvis du vil vite mer om stillingsstørrelsen, foreslår jeg at du leser gjennomgang Handel din vei til økonomisk frihet , den Definitive Guide til Posisjonering og Introduksjon til Posisjonsstørrelse E-Learning Course. Finally, du trenger flere handelssystemer for hver type marked. I det minste kan det hende du trenger ett system for trending markeder og et annet system for flate markeder. Hele Trading System Din forretningsplan for handel 3. Husk at jeg sa at det som folk flest anser som et handelssystem, er rett og slett en handelsstrategi som bør være en del av en overordnet forretningsplan Uten den overordnede forretningsplanen, vil mange mennesker fortsatt tape penger La oss se på den overordnede sammenhengen der en handelsstrategi bør gjøres for forretningsplanen jeg har skrevet mye om dette emnet, derfor er det i denne artikkelen følgende, bare en kort ov erview. Here er et sammendrag av hva vi anser for å være avgjørende for en god handelsplan.1 Sammendrag Dette er vanligvis den siste delen skrevet. Det gjennomgår alt materialet i planen og presenterer det i sammendrag. Det bør beskrives i detalj Formålet med planen og deretter kortfattet beskrive, uten mye detaljering, hvordan målene skal oppnås.2 En forretningsbeskrivelse Forretningsbeskrivelsen skal inneholde virksomhetens oppgave, en oversikt over virksomheten og dens historie, produktene og tjenester du oppgir som er vekst av kapital - og risikostyring som næringsdrivende, driften din, operasjonelle hensyn som utstyrsbehov og stedplassering, og din organisasjon og ledelse av ansatte hvis noen av disse temaene er ganske selvforklarende, men du bør ta deg tid til å skrive dem ut som en del av planen.3 En bransjens oversikt og konkurranse I bransjens overblikk må du se på faktorer som påvirker markedet. For eksempel Ed Yardeni på sitt nettsted viser ti hovedfaktorer som påvirker markedet. Disse inkluderer en globalt konkurransedyktig økonomi, en revolusjon innen innovasjon, trådløs tilgang til Internett, lavteknologiske bedrifter som har tilgang til høyteknologiske verktøy og endrer sin virksomhet som et resultat, behovet for å outsource for å øke produktiviteten og mange andre temaer. Se for mer informasjon. I tillegg må du også vite hvem din konkurranse er. Hvem handler du mot? Hva er deres tro Hvilke fordeler har de som du ikke? Hvilke fordeler har du det? de don t.4 Selvkunnskapsdel ​​Du må vite dine styrker og svakheter og liste dem i denne delen. Du må vite hvordan du kan kapitalisere på dine sterke sider og unngå eller overvinne dine svakheter.5 Din handelsplan selv Den taktiske handelsplanen bør være en del av handelsplanen din, men det bør også inkludere en trading tro på deg som danner grunnlaget for din plan, b eventuelle strategiske allianser du måtte ha, og hva er yo du planlegger å gjøre når det gjelder utdannelse og coaching.6 Dine handelsbaner Jeg tror at handelsplanen din også bør inneholde en liste over alle handelskantene du har i markedet. Når du lister dine kanter, kan du se gjennom dem ofte og være sikker på at du utnytter dem. For eksempel kan kantene dine inkludere det faktum at du ikke må bytte, b din forståelse av R-multipler og posisjonsstørrelse som gir folk en enorm kant over de som ikke har noen ide om disse konseptene, c din evne til å lese et nivå II-skjerm for å få gode aksjehandel, d dine kilder til informasjon, e din evne til å planlegge på forhånd, slik at du har en spillplan hver dag, f din ferdighet i å følge de ti oppgavene for handel, gi deg kunnskap om deg selv og dine sterke og svake sider Dette er bare et utvalg av mulige kanter du kan ha over gjennomsnittlig næringsdrivende investor.7 Finansiell informasjon Denne delen skal inneholde tre deler Den første delen er budsjettet Hvor mye penger gjør du du har Hva vil handelsprosessen koste deg Den andre delen vil være din kontantstrømoppstilling Gjør din plan fornuftig når det gjelder kontantstrøm Og til slutt vil den tredje delen inkludere resultatregnskapet Hvis du ikke har noen handelsregistrering, må du lag estimater basert på historisk testing og basert på papirhandel.8 Verste tilfelle Beredskapsplanlegging Det skjer alltid at du ikke har regnet eller planlagt i din handelsplan. Hvordan vil du håndtere disse elementene Hva vil du gjøre hvis noen av disse tingene kommer up Hvordan vil du ta beslutninger når disse elementene kommer opp. Hvis du vil ha mer informasjon, har jeg Market Mastery nyhetsbrev som var viet til forretningsplanlegging. Utvikling av et system. Jeg ser på et intervju jeg gjorde med LTC Ken Long, en systemekspert med Den amerikanske hæren Her er hva Ken sa om å utvikle et system. Fokusere hvem du er Før du utfører planlegging eller systemdesign, må du ha en grundig forståelse av hvem du er og hva dine mål er Individuelle investorer, private sikringsfondsledere, offentlige fondforvaltere og tillitsforvaltere vil ha forskjellig dynamikk, tidsrammer og risikoprofil. Dette gjelder systemdesign fordi sluttproduktet må passe til omstendighetene og dynamikken til gruppen eller individet. Hvis du hoppe inn i systemdesign uten å vurdere disse grunnleggende, vil du så frøene til fremtidige problemer. Objektiver I handelssystemdesign er problemet å definere hva du vil at systemet skal oppnå. Med så mange ideer, hendelser, omstendigheter og justeringer som forekommer i systemet utvikling, må du ha målene dine krystallklare i ditt sinn Hvis du ikke vet hvor du skal, så vil noen gamle veier gjøre. Mål gir deg grunnlaget for å gjøre valg og prioritere handlinger Dette er ikke å si at målene er statiske Faktisk kan de endres etter hvert som du oppdager enten uventede begrensninger eller fordeler i systemet når det modnes. Men før du starter må du ha et innledende sett av mål og mål for å veilede deg. Kalibrering Etter at systemet er distribuert og operativt, kontrollerer en del av kalibreringsprosessen at målene fortsatt passer til personen eller organisasjonen du har blitt. Det er en veldig spennende del av systemdesign Jeg kan ikke fortelle deg hvor ofte jeg har vært med i et designteam som startet med et begrenset sett med mål og oppdaget i fantasifasen at ved å justere våre severdigheter kunne vi oppnå langt mer for mye mindre, men du må starte et sted Hvis du ikke begynner med mål, spinner du hjulene dine. Jeg stiller dette spørsmålet til Ken Denne delen er kritisk Hvordan vet du om systemet ditt fungerer eller ikke Hva en re resultatpoengene dine Hva er kriteriene dine for å vite at systemet ditt ikke virker Hvordan skal du ta avgjørelser når disse kriteriene er oppfylt Vil du skrape alt eller bare gjøre justeringer for justering av plasseringer Alle disse spørsmålene er avgjørende for å utvikle og drive et godt handelssystem . Hvordan lage beslutninger innenfor systemet. Her er hva Ken sa om dette kritiske temaet. Hvis du ikke trener hvordan du skal ta avgjørelser på forhånd, må du sikkert sortere det ut på tidspunktet for den første vanskelige avgjørelsen. Hvis du tar beslutninger på stedet, uten retningslinjer, har du to problemer 1 å finne ut hva du skal gjøre og 2 hvordan du gjør det Og disse problemene må møtes under stor stress og begrenset tid. Det er bedre å roe ut beslutningsprosessen fremover, slik at beslutningsmekanismen er avtalt før hånden. I hæren overlever ingen plan vanligvis den første kontakten med fienden, og så er målet vårt i planleggingen å utvikle en rekke alternativer som kan gjelde for en rekke scenarier. Gjennom repetisjon og analyse vet vi hvilken strategi som passer best for en gitt sett av forhold Målet med strategiutvikling er å gi beslutningstakeren en meny med valg som er robust nok til å dekke et bredt spekter av uforutsetninger. Generelt systemutvikling ser vi etter robuste og enkle planer som kan dekke et bredt spekter av forhold. Når du planlegger dette, prøver du ikke å tvinge verden til å tilpasse seg planen. Hvis du blir forelsket i en strategi og blir følelsesmessig investert i å få det til å fungere uansett hva markedet eller verden sier, mister du evnen til å tilpasse og lære. En ekte verdenseksempel for et handelssystem kan være en handelsmann som bestemmer seg for å kontrollere sin faktiske tradingprestasjon hver måned mot den beregnede forventet forventningstid, og bestemme variasjonens statistiske betydning. Han kan bestemme at et resultat som er større enn ett eller to standardavvik er et signal om å slutte å handle og omkalibrere systemet eller bekrefte gyldigheten av handelsmodellen og dens underliggende forutsetninger. Hvis den faktiske forventningen er nær forventet forventning, vet han at han er på mål. I moderne produksjonssystemer kalles dette konseptet Statistisk Prosess Kontroll. Det lar systemkontrolleren vite når produksjonsmaskinene driver ut av toleranse og forringer kvaliteten på utgangen til punktet der linjen stoppes og maskinene blir retooled. I spurte Ken om hvordan hans råd gjelder i forhold til at Mange handelssystemer er automatiserte Her er hvordan han reagerte. Det er et generelt problem med informasjonsalderen, som gir oss et bredt spekter av automatiserte beslutningsstøttesystemer som kan samle massive mengder data, analysere og behandle det, og presentere oss med beslutningspakker for handling basert på kriterier som vi kan spesifisere jeg bruk mange av disse Men nøkkelen til å få dem til å jobbe er å sørge for at du forstår den underliggende forretningsmodellen og systemlogikken Når du gjør ting automatisk på datamaskinen, må du forstå hva datamaskinen beregner og filtrerer jeg ikke har brukt kraftverktøy til jeg vet hvordan de fungerer, og jeg har mestret deres bruk i simuleringer. Hvis du har gjort alt forberedelsesarbeidet du skisserte i ditt systemdesignverksted, 4 og du har valgt indikatorer som gir deg de riktige signalene for å gjøre dine handelsbeslutninger, så er det riktig å stole på signalene for å gjøre din avgjørelser Periodisk kalibrering av systemet er imidlertid fortsatt nødvendig for å bekrefte at du har valgt de riktige signalene og at handlingene dine er riktige. Hvis du ikke har gjort det arbeidet, kan det være at du bare hentet den siste hetteindikatoren og bruker den uavhengig av hvor hensiktsmessig det kan være for handelssystemet ditt Hvis det ikke fungerer som annonsert, vil du sannsynligvis dumpe den til neste varme ideen som følger med. Da er du ikke en systemleverandør, reagerer du bare til reklame. 1 Vi har to nyhetsbrevproblemer der vi intervjuet Tom Basso for de som ønsker å vite mer Ring 919-466-0043 for mer informasjon. 2 William O Neil, Hvordan tjene penger på aksjer New York McGraw - Hill, 1987.3 Vi har et lydprogram for forretningsplanlegging for handelsfolk som tar deg gjennom utviklingen av en forretningsplan.4 Verkstedet Ken refererer til er, hvordan du utvikler et vinnende handelssystem som passer deg, som vi tilbyr en gang eller to ganger hvert år. Om forfatteren Trading Coach Dr Van K Tharp, som er omtalt i den stadig populære boken, er Market Wizards anerkjent for sine bestselgende bøker. Trade Your Way to Financial Freedom Super Trader og hans klassiske Peak Performance Home Study Course for tradere og investorer Besøk ham på for et GRATIS trading simuleringsspill eller å registrere deg for hans GRATIS ukentlige nyhetsbrev.20001 Big Dog Trading System EasyLanguage kode avslørt 20002 C Big Dog EasyLanguage kode avslørt 20398 C Daybreaker 20003 C Early Late Breaker 20004 C Electric Day Breaker Trading System EasyLanguage kode avslørt 20005 C Playgap 20006 passord fjerning program 20007 ela els beskyttelse passord kilde fjerning service 20008 1-2-3 System av John Schmidt 2000 9 1-2-3-4 System av John Schmidt 20010 25X25 av Charles LeBeau 20367 AATS - Nøyaktig Trading Dreamtick Trading System for GB Pound EasyLanguage kode avslørt 20361 AATS - LTC ES Scalper System EasyLanguage kode avslørt 20360 AATS Nøyaktig handel CCI ZLR Trading System EasyLanguage kode avslørt 20355 AATS CanOpen Trading System for Russel Index EL Code Revealed 20356 AATS Phoenix Trading System for SP 500 Index EL Code Revealed 20357 AATS Rhino Trading System for Russel Index EL Code Revealed 20011 Abalone Trading System for TradeStation inkluderer manuell 20012 Aberration Plus System for Tradestation 20441 Adam Theory System av Delta Society 20013 Avansert Få EasyLanguage kode avslørt 20014 Avansert GET RT for TradeStation2000i 20015 AG-Xtreme Tier 1 for Tradestation 20017 Alfa-MAXX for Tradestation 20018 Alfanet Basis II Trading System for Tradestation av Brix EasyLanguage kode avslørt 20018 Alfanet Basis III 20019 Allbest contrarian for Tradestation EasyLanguage kode avsløre d 20020 Allbest investor for Tradestation EasyLanguage kode avslørt 20021 Allbest manager for Tradestation EasyLanguage kode avslørt 20022 Allbest swing for Tradestation EasyLanguage kode avslørt 20023 Allegro Intraday ND, NQ og SP for Tradestation EasyLanguage kode avslørt 20024 Allegro Swing ES, ND, NQ og SP for Tradestation EasyLanguage kode avslørt 20025 EasyLanguage kode avslørt 20395 Alyuda Tradecision Pro RT Siste versjon 20340 AmCan Full Suite pakke EasyLanguage kode avslørt 20026 Amcan Systens og indikatorer for Tradestation 8 x EasyLanguage kode avslørt 20027 Andromeda versjon 1 eller 2 Trading System EasyLanguage kode avslørt 20028 Anomaly 1 2 20029 Forventning 1. Født til Tradestation 20031 Anticipation II 20030 Forventning 20032 APEX SYSTEMS av Blue Wave Trading - EL Code Revealed 20033 Arcs for Tradestation 20034 Arcs Plus for Tradestation 20035 ARCS-ND og NQ for Tradestation EasyLanguage kode avslørt 20036 Arcs-NQ for Tradestation 20382 ART Char ting Software for Tradestation 8 x EasyLanguage-kode avslørt 20350 ART Real-Time Indikatorer Pyramid Trading Point System EL Code Revealed 20037 AS SP Raptor Bear Trading Systems 20038B AscTrend for Tradestation 8 eller høyere 20038 AscTrend for Tradestation2000i EasyLanguage kode avslørt 20375 ASCtrend for TS no DLL med permanent sprekk EasyLanguage-kode avslørt 20409 Aspect Trader 20039 Atlas-35 System EasyLanguage-kode avslørt 20040 ATS 3200 Trading System for Tradestation EasyLanguage kode avslørt 20041 ATS-6400 for Tradestation EasyLanguage kode avslørt 20371 ATW Indikatorer og strategier for Tradestation 20044 AxSym for Tradestation 20045 Aztec Global for Tradestation EasyLanguage kode avslørt 20046 Aztec Trading System for Tradestation EasyLanguage kode avslørt 20408 Bacon Boyz Ranger 2 og 3 Trend Systems Inkludert Alchemy åpen kode 20047 Balansepunkt for Tradestation 20048 Baramundi Trading System for Tradestation EasyLanguage kode avslørt 20049 Belly Trader for Tradestation by Clayburg EasyLanguage kode avslørt 20050 Big Dipper for Tradestation av Charles LeBeau 20051 BJ for Tradestation 20052 Blue HorseShoe for Tradestation av Stafford Trading Co 20053 Blue Line Trading av Tatkin Trading Company for Tradestation EasyLanguage kode avslørt 20402 BlueWave Precision Indikatorer for Tradestation 20054 BlueWaveTrading Indikatorer for TS EasyLanguage kode avslørt 20055 BOND 007 for Tradestation EasyLanguage kode avslørt 20056 Bounce 1 for Tradestation 20057 Bounce 2 for Tradestation 20058 Brain Trading System 7 0 EasyLanguage kode avslørt 20059 Breaker for Tradestation av Tom Peetoom 20436 Bricks Trend Trading System av TradeTheMarkets EasyLanguage kode avslørt 20060 britisk Pound Metrics Trading System for Tradestation EasyLanguage kode avslørt 20383 BRIX Basis-III for Tradestation TS-kode avslørt 20154S Builder Shockwave Trading Systems for Tradestation EasyLanguage-kode avslørt 20407 Builder Trading System for Tradestation 20388 Kjøp Selg eller Få Ut Tradestasjon Åpne kode eller Esignal versjon LATEST 20061 BWT Område 51 for Tradestation 20417 BWT Breathbreaker 3 Trading System EasyLanguage kode avslørt 20418 BWT Day Trader ES EasyLanguage kode avslørt 20062 BWT Matrix for Tradestation 20405 BWT Precision tradiing systemer Åpne kode 20065 BWT ROC N Russell - TS Code Revealed 20063 BWT Tidevannsbølge for Tradestation 20066 BWT Trend Indikatorer Pakke I II EasyLanguage Kode avslørt 20067 BWT Zones BlueWave Trading Zones EasyLanguage kode avslørt 20068 C-3 Trading System manual inkludert 20069 Cable24 Trading System ikke avslørt eller avslørt versjon EasyLanguage kode revealed.20070 CandleStick Analyse Bundle 20070A - Candle Forecaster Expert EasyLanguage kode avslørt 20070B - CandleStick Patterns Indikator 20070C - CandleStick Oppsettkoder Råkode 20440 Lysestakeindikator Set by Trade to Win 20419 Capital Berkeley Full sett med systemer - Aegis, Ascend, Bridge, Element Marin EasyLanguage kode avslørt 20072 Ca pricorn US 20073 Catcher av Andy Will 20074 Catscan 3 Plus for Tradestation EasyLanguage kode avslørt 20075 Catscan I II for Tradestation EasyLanguage kode avslørt 20076 Catscan III Constant for Tradestation EasyLanguage kode avslørt 20077 Catscan III for Tradestation 20078 Cesar Trading System EasyLanguage kode avslørt 50087 Charles Le Beau - First Sword Yen Trading System Manual EasyLanguage kode avslørt.20079 Charles Le Beau systempakke EasyLanguage kode avslørt 20079A - Charles Le Beau - 25 x 25 Bond System inkl Manual 20079B - Charles Le Beau - Big Dipper Bond Trading System 20079C - Charles Le Beau Crossbow 20079D - Charles Le Beau - MACK Trading System inkl. Manual 20079E - Charles Le Beau - PRUDENT SP Trading System inkl. Manual 20079F - Charles Le Beau - Roughneck CO Trading System inkl. Manual 20079G - Charles Le Beau - Strategisk Sveitsisk Franc 20079H - Charles Le Beau Sward 20080 Checkmate for Tradestation EasyLanguage kode avslørt 20081 Cipher for Tradestation 20 082 Clayburg s indikatorer for Tradestation 20404 Clyde Lee Swing Timer Trading System 20084 Kommando Moneyline Indikatorer manual inkludert 20085 Commando Trader II for Tradestation 20341 Kompass SP Trading System Naviagator Surveyvor av EL kode avslørt 20086 Crashproof for Tradestation 20087 Crossbow for Tradestation av Charles LeBeau 20438 Crounching Tiger Trading System by Trade-to-Win EasyLanguage kode avslørt 20088 Valuta Conquest I for Tradestation EasyLanguage kode avslørt 20089 Cycle Trading System av Walter Bressert manual inkludert 20392 Cycle Trends Professional 20090 Cyclone for Tradestation av John Clayburg EasyLanguage kode avslørt.20450 David Landry på Swing Trading package.- Dave Landry Swing Trading systems for Tradestation - David Landry on Swing - Getting Started in Momentum Based Swing - Cup-and-Handle Trading Techniques For Swing - Getting Started In Momentum-Based Swing - Ten Tenets Of Swing.20091 Dale Legan System bundle 20091A - Dale Legan - Catching Waves with a Multi-Cycle Momentum Model 20091B - Dale Legan Indicators Set 20091C - Dale Legan Confluence Function 20092 Dealer Choice Pro for TS EasyLanguage code disclosed 20093 Deep Throat by RLM Business for Tradestation EasyLanguage code disclosed 20094 Del Mar for S P and Nasdaq E-minis for Tradestation EasyLanguage code disclosed 20416 Delta Graphics Director Edition for Intraday and Forex 20442 Delta Graphics Net30 Forex Edition by Delta Society 20095 Delta Phenomenon System EasyLanguage code disclosed 20096 Delta Threshold for Tradestation by Day Trading Inst EasyLanguage code disclosed.20097 Dennis Meyer s System bundle 20097A - Dennis Meyers advanced short-term systems and indicators 20097B - Dennis Meyers basic short-term systems and indicators 20097C - Dennis Meyers Short Term Indicators v 2 and Long Term v 4and 5 20097D - Dennis Meyers Super Walk Forward Optimizer 20098 Dennis RSI for Tradestation by Robert Dennis, Jr 20099 Di Napoli Indicators 20100 DiNapoli Oscillator Predic tor 20437 Directional Day Filter Trading System by TradeTheMarkets EasyLanguage code disclosed 20101 Diversified Swing Trader DST for Tradestation EasyLanguage code disclosed 20102 Dollar Trader for Currencies EasyLanguage code disclosed 20103 Dominant Short-Cycle Indicator 20104 Double Play by Trade System for Tradestation EasyLanguage code disclosed 20105 Drummond Geometry - Market Flow Indicator EasyLanguage code disclosed 20106 Drummond Geometry Indicators for Tradestation 20107 Drummond Lessons Package Lessons 1-30 and Drummond indicators for TradeStation 20108 DTTB Daytraders Talking Tool Box for TS 20109 Dynamic Gann Level System for TradeStation 2000i - 4 0 Metastock Excel 20110 Dynamic Time 20111 Dynamo for Tradestation by Chuck Hughes 20112 Early Bird III Trading system for TS 8 x and TS2000i EL Code Revealed 20113 Ed s Crossover Indicator by Rhythm of the Markets EasyLanguage code disclosed 20114 ELA ELS password removal program 20006 ELD password removal program 20115 eMESA for Tradestation EasyLanguage code disclosed 20345 Empire Euro Dollar Trading System by Keener Capital EasyLanguage code disclosed 20116 Entry Point for Tradestation 20445 EOT Pro End of Trend Trading Indicators for Tradestation open code 20117 EpicDynaTrend for Tradestation 20123 Euro Metrics Trading System EasyLanguage code disclosed 20124 EuroDynamics LT for Tradestation EasyLanguage code disclosed 20125 EuroTrader Trading EasyLanguage code disclosed orignal manual included 20126 EVE T Bond by Emil Van Essen for Tradestation EasyLanguage code disclosed 10262 EZ2Trade Indicators for eSignal EasyLanguage code disclosed 20127 Feeder Trader Trading System by John Clayburg EasyLanguage code disclosed 20128 Fibonacci Cluster Locator Professional 20129 Fibonacci Trader Indicators dll 20130 Floor Traders Tools for Tradestation by Roy Kelly EasyLanguage code disclosed 20131 Focal Point Trading System 20132 FT S P DayTrade for Tradestation 20133 Fusion by Strategic Trading Systems for Trades tation TS code disclosed 20134 FX-23 Plus EUR for Tradestation EasyLanguage code disclosed 20135 FX24 Trading system non disclosed or disclosed version 20136 FxDynamics non disclosed or disclosed version 20363 Gann Pivot System by Bruce Babcock EasyLanguage code disclosed 20137 Gear for Tradestation 20362 Genesis B Japanese YEN Trading System EasyLanguage code disclosed 20139 Global Server Convertor.20140 Global Variable bundle 20140A - Global Variable DLLs 20140B - Global Variables Pro 20141 Golden Eagle III Trading System 20142 Golden SX Plus Trading System for TS EasyLanguage code disclosed 20365 Grail Genetic Optimizer, Grail Walk Forward Optimizer, Genetic Portfolio Optimizer, Computer Assisted Strategy Builder for Tradestation by 20364 Grail Global Futures Trading System for TradeStation 20291 Grail walk-forward Optimizer alone 20143 Guenther K Currencies for Tradestation EasyLanguage code disclosed 20144 GUESSNOT ABC for Tradestation EasyLanguage code disclosed 20145 Hats and Tr ader s Delight for Tradestation 20406 Hawkeye Advanced ToolKit for eSignal Basic, Levels, Hooks 20373 Hawkeye Indicators for Tradestation 20146 Helix SP trading system for Tradestation - EL Code Revealed 40119A Hit Run Trading I EasyLanguage code disclosed 40119B Hit Run Trading II EasyLanguage code disclosed 20147 Hit and Run I II for Tradestation 20393 Hologram GBPUSD System for TS8 20148 HOT ZONES For TradeStation 10091 Hurst Channel 5 or Hurst Channel Four EasyLanguage code disclosed 20384 I-Master eMD by Trade-System for Tradestation TS code disclosed 20385 I-Master eRL by Trade-System for Tradestation TS code disclosed 20152 I-Master Trading System by Murray Ruggiero EasyLanguage code disclosed 20154 Indicia Scalper System EasyLanguage Code Disclosed 20155 Indicia Technologies Systems FOREX Trading Systems EasyLanguage code disclosed 20156 Insight for ES, ND, NQ for Tradestation EasyLanguage code disclosed 20157 Insight Strategic Investment Trader 20158 Interplay by Strategic Tra ding Systems for Tradestation TS code disclosed 20159 Investor s Dream manual included 20160 Jan Arps - Adam Price reflection bars indicator for TS EasyLanguage code disclosed 20161 Jan Arps - Crown Jewels Package EasyLanguage Code Open 20162 Jan Arps Canopus for Tradestation 20163 Jan Arps Hurst Polynominal Regression Bands ToolKit for Tradestation.20164 Jan Arps indicator system bundle 20164A - Danton ShockWave Tool Kit EasyLanguage code disclosed 20164B - Fox Waves Tool Kit EasyLanguage code disclosed 20164C - Jackson Zones Tool Kit EasyLanguage code disclosed 20164D - ProScan S P Scalping System EasyLanguage code disclosed 20164E - Sigma Bands Toolkit EasyLanguage code disclosed 20164F - Trading With Steve Woods Cumulative Volume - Float Indicator EasyLanguage Open-Code.20165 Jan Arps system bundle 20165A - Jan Arps Swing Box 20165B - Jan Arps Swing Day Traders Tool Kit 20166 Jan Arps TT6 ALPHA CENTAURI for Tradestation EasyLanguage code disclosed 20167 Jeff Cooper 5-day momentum i ndicator 20168 JJ for the Eurodollar for Tradestation TS code revealed 20352 Joe Krutsinger - Time Charger Trading System EasyLanguage code disclosed 20169 Joe Krutsinger - Call Buyer 20170 Joe Krutsinger - Index Point 20171 Joe Krutsinger - Last Dollar for Tradestation 20172 Joe Krutsinger - MEASURE 20337 Joe Krutsinger - SAFER Trading System by Joe Krutsinger EasyLanguage code disclosed 20173 Joe Krutsinger - TIMEMACH 20175 Joe Krutsinger Quarterpounder FOREX Trading Systems code disclosed 20178 Joe Krutsinger s Joe Krut System for Tradestation 20179 Joe Krutsinger s Focal Point for Tradestation 20180 Joe Krutsinger s Hats and Trader s Delight for Tradestation.20181 Joe Krutsinger s Prince for Tradestation.20174 Joe Krutsinger mechanical trading system bundle 20174A - English Channel Trading System EasyLanguage Open-Code 20174B - GearShift Trading System EasyLanguage Open-Code 20174C - Parrot Trading System EasyLanguage Open-Code.20176 Joe Krutsinger system bundle 1 20176A - Joe Krut singer - 36,000 worth of trading systems 20176B - Joe Krut s 12 Ultimate Systems 20177 Joe Krutsinger trading system bundle 2 EasyLanguage code disclosed 20177A - Dealer Choice Pro Trading System by Joe Kruts EasyLanguage code disclosed 20177B - Dream Trading System by Joe Kruts 20177C - Index Point Trading System by Joe Kruts 20177D - One Trade Trading System by Joe Kruts 20177E - Position Point Trading System by Joe Kruts 20177F - Queen Trading System by Joe Kruts 20177G - Ranger Trading System by Joe Kruts 20177H - Traders Delight Trading System by Joe Kruts 20177I - Traders Dream Trading System by Joe Kruts 20177J - Trio Trading System by Joe Kruts 20378 Joe Ross Trading Methods include Andy 60T, Andy 40T, Zanibar, Easy Bond, Zulut, Ambusht 20182 John Clayburg Indicator Package 20183 Jurik Tools DLL version JMA, CFB, DDR, VEL, WAW, RSX 20184 Jurik Tools for TradeStation 2000i 8 x EasyLanguage code disclosed 20185 Jurik TPO - Turning Point Oscillator EasyLanguage Code-Open for Tradestati on 20186 Kase StatWare Trading Indicators for Tradestation EasyLanguage code disclosed 20187 KC Collection for Tradestation The Futures Group 20188 Kwik POP for TradeStation EasyLanguage code disclosed 20368 Kwik Pop Indicators Package latest version.20189 Larry Williams Indicators for Tradestation bundle 20189A - Larry William s from Seminar 20189B - Larry William s Systems 20190C - Larry Williams 1 28 breakout 20189C - Larry Williams Inner Circle Indicators 20189D - eBook How ro Trade Better - Eliminate Fear 20189E - Larry Williams interview 20189E - Bonus Larry William s indicator and system collection.20190 Linda Raschke System bundle 20190A - Linda Raschke - LBR Edge 20190B - Linda Raschke Critical Day 20191 Little Big Horn system EasyLanguage code disclosed.20192 Long-Term Trading System by bundle 20192A - Anomaly 1 20192B - Anomaly 2 20192C - Ready-Set-Go Rel 20192D - Wave Rider Rel 20421 Low Ranger Trading System by Joe Krutsinger EasyLanguage code disclosed.20193 LTS DayTrading System bundle for TradeStation 8 x EasyLanguage code disclosed 20193A - LTS Breakout Trading System 20193B - LTS Barracuda Trading System 20193C - LTS Optimum Trading System 20425 LYNX TradeStation Trading System for Commodities EasyLanguage code disclosed 20194 Magic Dots Trading System open code version available 20195 Magnet for Tradestation 20196 Magnet Zero for Tradestation EasyLanguage code disclosed 20197 Magnitude for Tradestation.20198 Market Analytics System bundle 20198A - Market Analytics - Exhaustion Bars 20198B - Market Analytics - Fractal Toolkit 20198C - Market Analytics - MA Predict 20198D - Market Analytics - Momentum Toolkit 20198E - Market Annihilator System 20389 Market Cycles Add-on for Dynamic Trader 20199 Market Profile Indicator by Sirtrade EasyLanguage code disclosed 20342 MarketAxe Trading Indicators by EL Code revealed 20200 MarketMind 20201 Mechwarrior ES for Mini S P futures for Tradestation EL Code revealed 20202 Mechwarrior SP for Tradestation EL Code r evealed 20203 Mesa for Tradestation 20204 MESA Bonds for Tradestation 20205 MESA Max for Tradestation 20348 Mesa Sierra Hotel for Tradestation EasyLanguage code disclosed 20206 Mesa T-Notes or Mesa Notes for Tradestation 20207 Miles Dunbar s Great White - ES, ND, NQ, SP for Tradestation EasyLanguage code disclosed 20208 MILLENNIUM Trading System for TS 20209 Mini SIMPLICITY - for mini S P 500 and regular Dow Jones futures index EL Code revealed 20210 MiniMax I II Trading System for Tradestation.20211 MoonTide S P Trading System EasyLanguage code disclosed 10123 MT Predictor EOD and RT stand-alone 20374 MTPredictor Extensions version 8 for Tradestation 20338 MTPredictor RT for Tradestation 8 x RT EOD for Tradestation2000i is also available 20354 Mystery Trading System EasyLanguage code disclosed 20212 NATT collection for Tradestation 20343 Naviagator Trading System by EL Code revealed 20390 NetPicks Universal Market Trader for TS 20447 Neural DT System for Tradestation 20213 Neural Scope Tick Trader S P Emini for TS EasyLanguage code disclosed 20214 NexGen T-3 Fibs ProTrader for Tradestation ABC Plot Trends MACD Indicators included Latest Release EasyLanguage code disclosed 10242 Ocean Advanced Software 20420 Ocean Plus Indicator Package by Jim Sloman EasyLanguage code disclosed 20346 Ocean Trading Indicators by Jim Sloman with manuals, video tutorial, user guide, Ocean Theory ebook EL Code Revealed 180MB in size 20215 Octane Trading System for Tradestation 1 S P system by futurestruth EasyLanguage code disclosed 20216 Omega ProSuite Indicator Pkg by Trade Concepts 20217 OmniCom for TS 20443 One Day at a Time MTS Member Trading Systems by Delta Society 20218 ONIX for Tradestation 20339 Optimax - a fast optimizer for Tradestation 8 x - level 3 20219 Outsiderfor TS for Tradestation EasyLanguage code disclosed 10155 Owndata latest 20220 Parabolic Stop for Tradestation by Welles Wilder 20221 Pegasus for Tradestation manual included EasyLanguage code disclosed 20222 Pendulum for Tradestation 20387 Performance I include 20223 Pieter Hoenderdos System 20224 Position Point for Tradestation 20226 PrecisionTrader - BuySell Point Indicator 20372 Prime-Line Tradestation Suite 20227 Prince for Tradestation 20228 Profit Quest for Tradestation by ProfitQuest Systems 20229 ProfitTrader for Tradestation by Walter Bressert 20230 Profitunity Indicators 20231 ProScan S P Scalping System, Sigma Bands Toolkit, Trading With Steve Woods Cumulative Volume - Float Indicator 20427 Quanttrader30 EUR-USD Forex System EasyLanguage code disclosed 20232 Quantum Leap Zone Indicators Package EasyLanguage code disclosed 20233 Queen for Tradestation 20234 R W MasterSuite FOREX Trading Systems EasyLanguage code disclosed 20235 Ranger for Tradestation 20377 Raptor II with plugins by Steven Primo 20236 R-Breaker by Rich Saidenberg EasyLanguage code disclosed 20428 RC 5 Trading System EasyLanguage code disclosed 20394 RC Chance Trading System including full EasyLanguage disclosed code 2037 6 RC Conservative II for Tradestation EasyLanguage code disclosed 20429 RC Dreams Trading System EasyLanguage code disclosed 20237 RC Miracles II EasyLanguage code disclosed 20238 RC Success ll EasyLanguage code disclosed 20359 RC Success llI 20239 Ready-Set-Go Rel 20424 Real Time Target Indicators by John Clayburg 20240 RevMark ATM Trading Systems for TS 20241 revMark Trading System for TS 20403 RightAngleTrading Tools for eSignal TradeStation 20242 Rina Dynamic Zones Analysis for Tradestation 20243 RINA Money Manager 20244 Rina OptiLogix for Tradestation 20245 Rina Performance Suite for TS2000i and TS8 include Rina Money Manager, Rina Portfolio Evaluator, Rina 3D 20246 RINA Portfolio Evaluator 20247 Rina Portfolio Selector Pro Toolbox 20248 RINA Portfolio Stream for TradeStation 20249 RINA Portfolio Stream Optilogix module included 20250 R-Levels for Tradestation by Rich Saidenberg EasyLanguage code disclosed 20252 R-Mesa for Tradestation 8 x Other versions available for TS2000i Easy Language code disclosed 20253 Robert Miner s Stochastic RSI ELA Code 10264 Roy Kelly Advanced Package for Esignal ALL 20254 Roy Kelly s Floor Trader System EasyLanguage code disclosed 10185 Roy Kelly s Floor Traders Toolkit open code 10187 Roy Kelly s Money Maker 20255 Roy Kelly s Trend Pro for TS for Tradestation EasyLanguage code disclosed 20256 RS of Houston for Tradestation 20430 RSI Strategy EasyLanguage code disclosed 20257 Ruggerio Global Varariables Professional Edition 20258 Ruggiero Stock Traders Toolbox 20259 Rumba for Tradestation EasyLanguage code disclosed 20260 S P Day for Tradestation 20261 S Pmd for the S P500 for Tradestation EL Code revealed 20262 Safir-X 20263 Safir-Xp PROFESSIONAL SirTrade include manual tutorial 20431 Safir-Xs SirTrade 20264 Sailor for Tradestation 20265 SAM S P Daytrader for Tradestation 20400 Samurai 35 for Tradestation EL Code revealed 20401 Samurai-7 20267 Scalper Pivot Point for Tradestation EasyLanguage code disclosed 20268 SharpShooter Trad ing System by 20269 Shockwave or Danton Shockwave 20270 Shogun by for Tradestation EasyLanguage code disclosed 20271 Sierra Hotel for Tradestation EasyLanguage code disclosed 20272 Simplicity for Tradestation EasyLanguage code disclosed 20432 Simplicity Forex Swing EasyLanguage code disclosed 20273 SirTrade for TS incl Safir-X EasyLanguage code disclosed.20369 Smart-eTrades e-Mini DayTrader Series Eagle, Dragon, and Raven Trading Systems 20274 SmarteTrades indicator bundle EasyLanguage code disclosed 20275 Sniper Trading System for Tradestation for trading e-mini S P futures 20276 SP U for Tradestation 20277 SP500 MD for Tradestation 20279 Squeeze Play Trendy Wendy Trading Systems EasyLanguage code disclosed 20446 StackTrade for TS EasyLanguage code disclosed 20280 Stafford STC Daytrader Trading System EasyLanguage code disclosed 20281 STAT for Tradestation 20282 Statmirror for Tradestation 20283 STC S P DayTrade by Stafford for Tradestation 20284 STC V-Based S P Daytrade System 20433 StockMedium for TradeStation 40223 Street Smarts by Conners Rasche Street Smarts file included 20285 Sunny Harris Indicators 20286 Support Resistance for Tradestation by Walter Studnicki 20344 Surveyor Trading System by EasyLanguage code disclosed 20287 Swing Index System for Tradestation by Welles Wilder 20422 Swing Star Trading System by Joe Krutsinger EasyLanguage code disclosed 20439 Swing Traders Edge Trading System Trade-to-Win EasyLanguage code disclosed 20288 Synergy for Tradestation EasyLanguage code disclosed 20347 Tactical Trading indicators bundle EasyLanguage code disclosed 20289 Tango for Tradestation EasyLanguage code disclosed 20290 TCI strategies and indicators for Tradestation 10280 Tenfore Satelite QuoteSpeed Server 20379 The Big Blue Trading System by Mike Barna.10201 The Daytrader s Talking ToolBox 20365 The Grail - Genetic Optimizer, Grail Walk Forward Optimizer, Genetic Portfolio Optimizer, Computer Assisted Strategy Builder for Tradestation by 20434 The Grail - Genetic System Builder Prototyping Strategy 20380 The Grail - GGO with CASB 20364 The Grail - Global Futures Trading System for TradeStation 20435 The Grail - Universal Strategy Optimizer 20291 The Grail - walk-forward Optimizer 20292 The KC Collection Channel Method manual included EasyLanguage code disclosed 20293 The Turtle Trading System 20294 Thirteen Mechanical Trading for TS 20423 Time Any Trading System by Joe Krutsinger EasyLanguage code disclosed 20295 T-MESA by MESA SOFTWARE for Tradestation EasyLanguage code disclosed 20296 Tod Mitchel Indicator Package.20297 TomDemark system bundle EasyLanguage code disclosed 20297A - Tom Demark Indicators Package 20297B - Tom Demark Scalper System Excel template included 20297C - Tom DeMark s Sequential Trading System 20298 TradeMaster for Tradestation EL Code revealed 20299 Trader s Dream for Tradestation 20300 Trader s Profit Motive Traders Software for Tradestation 10215 Tradestation 8 6 for E-Signal Latest Build with Service Pack and Owndata included free It supports data from eSignal, Interactive Brokers TWS , Quotespeed Tenfore, Patsystems J-Trader , IQFeed, MarketCast, TradeStation2000i GlobalServer, ASCII plain text 20399 Tradethebarsnotthestars.20302 Tradethemarkets for Tradestation bundle - TTM Scalper Buys and Sells TS code disclosed - TTM Auto Multi Pivots TS code disclosed - TTM Bricks TS code disclosed - TTM Squeeze TS code disclosed - TTM Trend TS code disclosed - TTM Tspro TS code disclosed - TTM tickratio TS code disclosed - TTM BBSqueeze TS code disclosed.20449 Tradethemarkets Directional Day Filter indicator with Value Chart.20303 Trading Alchemy for Tradestation Complete Package EasyLanguage code disclosed 20358 Trading Alchemy Trender Package 20304 Trading Magic Trading System EasyLanguage Code disclosed 20306 Trend Legacy by Trend Simplicity for Tradestation EasyLanguage code disclosed 20307 Trend Reflection for Tradestation commodities version 20308 Trend Simplicity Trading System for Tradestatio n 20309 Trend XP ES by Dream Trading for Tradestation 20310 TrendChannel Pro System include manual EasyLanguage code disclosed 20444 TrendLineTrader for Tradestation 20381 Trilogy for Tradestation EasyLanguage code disclosed 20311 Trio System for Tradestation 20391 TS Research - ALL Tools 20410 TSUNAMI Trade for Tradestation 20414 TTM bricks TTMbricks 20448 TTM Directional Day Filter System 20411 TTM Pivots TTMPivots 20412 TTMConfirmation TTM Confirmation 20413 TTMScalperAlert TTM ScalperAlert 20415 TTMTrend TTM Trend 10263 TurnSignal Indicators for eSignal 20312 Twist Shout by RLM Business for Tradestation EasyLanguage code disclosed 20349 Two Smooth and Advanced MA AMA by Roy Kelly EL Code Revealed 20313 TZAR for NQ, ND, and ES for Tradestation TS code disclosed 20314 U S One for Treasury Bonds for Tradestation EL Code revealed 20397 Ultra Edge Trading System and Strategy 20316 Universal for Tradestation 20317 Universal LT 20319 Using Fibnacci Ratios and Momentum 20320 VSA PRO by Tra deToWin for Tradestation EasyLanguage code disclosed.20321 Walter Bressert system bundle 20321A - Walter Bressert Indicators 20321B - Walter Bressert s ProfitTrader incl Manual 20321C - Walter Bressert s - The Cycle Trading Manual included 20322 Wave Rider 20323 Waverider for Tradestation 20325 Weaver-DT for Tradestation 20326 Weaver-ST for Tradestation 20327 Wildcard for Tradestation 20328 William Tell Bond for Tradestation EasyLanguage code disclosed 20329 Winning Edge Trading System for Tradestation 20330 Wood Indicators for Tradestation 20331 XS Bonds for Tradestation EL Code revealed 20332 XTrader SP System for Tradestation by Clayburg 20333 Xtreme for Tradestation 20334 Zeeport for Tradestation 20335 ZMS Ultimate Timer by SmithWorks for Tradestation EasyLanguage code disclosed 20336 Zone Trading System by Blue Wave Trading. The Commodity Futures Trading Commission the Commission has reason to believe that International Trading Systems, Ltd ITSL , International Trading Systems, Aus tralia PTY, Limited ITSA , and Richard Swannell Swannell have violated Sections 4 b a i and iii and 4 o 1 of the Commodity Exchange Act the Act , 7 U S C 6b a i and iii and 6 o 1 1994 and Section 4 41 a and b of the Commission s Regulations, 17 C F R 4 41 a and b 2000 Therefore, the Commission deems it appropriate and in the public interest that administrative proceedings be, and hereby are, instituted to determined whether ITSL, ITSA and Swannell engaged in the violations set forth in this Order and to determine whether any Order should be issued imposing remedial sanctions. In anticipation of the institution of this administrative proceeding, Respondents have submitted an Offer of Settlement Offer , which the Commission has determined to accept Without admitting or denying the findings in this Order, and prior to any adjudication on the merits, Respondents acknowledge service of this Order Respondents consent to the use of the findings in this Order in this or any other proceedings br ought by the Commission or to which the Commission is a party 1.The Commission finds the following. Since at least November 1998 until July 2000, respondents have sold software programs to United States customers that generate recommendations for trading commodity futures on United States boards of trade through an Internet Web site On the Web site respondents guarantee that purchasers of their software programs will double their money year after year and falsely imply that over the past several years, respondents trading systems have produced exceptional and consistent returns in actual trading In fact, none or virtually none of the customers who use Respondents systems have doubled their money in any one-year period, and the past performance results touted on the Web site are the product of hypothetical, rather than actual, trading Additionally, Respondents fail to accompany the performance claims with the statement prescribed by the Commission s Regulations concerning the inherent li mitations of claims based on hypothetical performance. Respondents also prominently feature a testimonial from a systems purchaser who purportedly made substantial profits in only a few months of trading and continues to profit each day Respondents fail to disclose, however, that after the successful trades, the customer experienced substantial trading losses and no longer uses Respondents trading systems in the recommended manner. Respondents activities in fraudulently advertising their trading systems violate Sections 4b a i and iii and 4 o 1 of the Act, and Section 4 41 a of the Commission s Regulations, and their failure to provide the required statement concerning performance results based on hypothetical trading violates Section 4 41 b of the Commission s Regulations 2.International Trading Systems Ltd is a Grand Caymans corporation. International Trading Systems Australia PTY, Ltd is an Australian corporation. Richard Swannell is the director of International Trading Systems Ltd and International Trading Systems Australia PTY, Ltd and resides at 64 Burke Drive, Attadale, Australia. None of the respondents is registered with the Commission in any capacity 3.Since at least November 1, 1998 until July 2000, Respondents have sold through their Web site which is registered through Network Solutions, Inc in Virginia and administered through Addy Associates in Florida a software package consisting of five fully automated, mechanical trading systems referred to as The Collective On a daily basis, purchasers of the software can input certain market information, and the trading systems will then generate specific instructions that can be sent to a broker This system is marketed primarily to United States customers. Respondents make various guarantees about the profits customers are likely to achieve by trading commodity futures based on The Collective s recommendations For instance, through their Web site, respondents claim that. We guarantee that you will double your investment capital every year with our mechanical trading systems. The Collective is a software package guaranteed to position you in the top few percent of the world s best traders on a consistent basis. Each trading system in The Collective is guaranteed to increase the value of the recommended portfolio by a minimum of 100 including the cost of brokerage and slippage in the first 12 months after purchase If the return is 99 or less, we will refund the total purchase price for that system and you can keep the software. In fact, none or virtually none of the customers who purchase The Collective double their investment capital in any one year of futures trading, let alone every year. Through numerous graphs that purport to depict the historical performance of the Collective for commodity futures available only through United States boards of trade, respondents also misrepresent the past profits they have achieved These graphs represent portfolios that purportedly have traded across all futures markets based on the recommendations made by respondents systems and have experienced dramatic increases in value since 1994 Respondents further claim that after the trading systems were released o n October 1, 1998, each trading system has shown the same exceptional and consistent returns as before release Thus, these graphs and the accompanying text falsely imply that the performance claims appearing on respondents Web site were the product of actual trading, at least after the systems were released In fact, respondents have never used any of their own funds to trade commodity futures based on The Collective s recommendations Instead, all the performance results depicted in the graphs are the product of simulated or hypothetical trading Moreover, respondents performance claims are not accompanied by the cautionary statement prescribed by Regulation 4 41 b concerning the inherent limitations of performance results based on hypothetical trading. Respondents Web site prominently features a testimonial from a customer who purchased and used The Collective The testimonial purports to have been written at 2 30pm on April 30 th 1999 , and discusses the customer s trading experience fro m the beginning of January 1999 According to the testimonial, the customer turned 72,000 into 202,000 in the first 100 days of trading, and his account continues to grow each day The testimonial also reports that the customer lost money when he temporarily departed from the trading systems recommendations While it is true that the customer experienced gains and losses that approximate the claims in the testimonial, his account has not continued to grow In fact, respondents have knowledge that, subsequent to the customer s successful trades, he suffered substantial trading losses while trading as directed by The Collective, and, indeed, the customer no longer relies on The Collective trading signals. D Legal Discussion.1 Respondents Violated Sections 4b a i and iii of the Act. Sections 4b a i and iii of the Act provide that it shall be unlawful, in or in connection with any order to make or the making of a futures contract, for or on behalf of any other person, i to cheat or defraud, or a ttempt to cheat or defraud, such other person, or iii willfully to deceive or attempt to deceive such other person by any means whatsoever in regard to any such order or contract or the disposition or execution of any such order or contract, or in regard to any act of agency performed with respect to such order or contract for such person Misrepresentations and omissions of material facts made with scienter regarding futures transactions constitute fraud under Section 4b a of the Act 4 Additionally, Sections 4b a i and iii require that the material misrepresentations and omissions of material facts be made in connection with futures transactions 5.Respondents violated Sections 4b a i and iii by guaranteeing that purchasers of The Collective will double their investment capital in a one-year period, and double it again in each successive year CFTC v Commonwealth Financial Group, Inc 874 F Supp 1345, 1354 S D Fla 1994 finding that statements to potential customers such as the likelihood of possible profit is near certain, or over the last seven years every 10,000 invested has netted an average of as much as 50,000 in profits based on the underlying futures exceeded mere optimism and violated Section 4b of the Act CFTC v Crown Commodity Options, Ltd 434 F Supp 911 S D N Y 1977 sales pitches were misleading and inaccurate when they conveyed the distinct impression that extraordinary short-term profits were all but certain to be realized by investors The fact that respondents expressly back some but notably, not all of these guarantees with a promise to refund the purchase price of the trading systems does not change the fraudulent character of these statements, even if respondents honored customer requests for refunds R W Technical Services, Ltd v CFTC 205 F 3d 165, 170 5 th Cir 2000 T he existence of a limited refund policy coupled with extravagant claims of false profits only confirms that the petitioners misrepresented the existence of substantial risks inherent in futures trading. Respondents have also violated Section 4b a i and iii by representing that historical performance results were based on actual trading, while knowing that, in fact, they were the product of hypothetical trading Because simulated results inherently overstate the reliability and validity of an investment system, and because extravagant claims understate the inherent risks in commodities trading, a reasonable investor would find such fraudulent misrepresentations to be material R W Technical Services 205 F 3d at 170 see also CFTC v Skorupskas 605 F Supp 923, 933 E D Mich 1985 solicitations aided through use of false or deceitful performance tables violated Section 4b a. Finally, Respondents have violated Section 4b a i and iii in their use of a customer testimonial, in which the customer reports that he made profitable trades over a few-month period and that his account continued to grow Respondents fail to disclose that the customer subsequently experienced substantial los ses and then stopped using respondents trading system Additionally, Respondents fail to disclose that the profits achieved by the customer who furnished the testimonial was not typical for purchasers of The Collective In re First National Trading Corp 1992-1994 Transfer Binder Comm Fut L Rep CCH 26,142 at 41,788 n 20 CFTC July 20, 1994 use of literally true statement as sales inducement had effect of misleading customers as to likelihood of achieving profits Swickard v A G Edwards Sons 1984-1986 Transfer Binder Comm Fut L Rep CCH 22,522 at 30,275 CFTC March 7, 1985 fraud can occur through an incomplete representation or half-truth.2 Respondents Violated Section 4o 1 of the Act and Section 4 41 of the Regulations. Section 4 o 1 of the Act prohibits CTAs from a employing any device, scheme or artifice to defraud any client or participant or prospective client or participant, or b engaging in any transaction, practice, or course of business which operates as a fraud or deceit upon any cli ent or participant or prospective client or participant Section 4 41 a of the Regulations prohibits a CTA or principal thereof from advertising in a fraudulent or misleading manner Section 4 41 b of the Regulations makes it unlawful for a CTA to fail to include the required warnings about the limitations of trading performance numbers based upon hypothetical or simulated data 6.In order to establish a violation of Section 4 o of the Act and Section 4 41 of the Regulations, the Division must prove that the respondent was i a CTA or, with respect to Section 4 41 of the Regulations, a principal thereof, and ii either a employed any device, scheme, or artifice to defraud any client or prospective client, or b engaged in any transaction, practice, or course of business which operates as a fraud or deceit upon any client or prospective client Section 4 o 1 of the Act which also requires the use of the mails or any means or instrumentality of interstate commerce, prohibits both registered and unregistered CTAs from defrauding their clients 7 Section 4 41 of the Regulations also applies to all CTAs, regardless of whether those CTAs are required to be registered. Under Section 1a 5 of the Act, in order to establish that someone is a CTA, it must be shown that the person i advised another about the value or advisability of trading in futures contracts, ii either directly or through publications, writings or electronic media, iii for compensation or profit Section 1a 5 of the Act, 7 U S C 1a 5 8 Respondents gave commodity futures trading advice for compensation or profit and, therefore, are CTAs 9.By falsely representing the profits that customers will achieve by following the recommendations of The Collective, and by falsely representing that historical performance results are based on actual, rather than hypothetical trading, respondents have violated Section 4 o 1 of the Act and Section 4 41 a of the Regulations for the same reasons as they violate Sections 4b a i and iii of the Act In re R W Technical Services, Comm Fut L Rep CCH 27,582 CFTC March 16, 1999 Because we have found that respondents violated Section 4b a of the Act and that they acted as CTAs, further analysis is not needed to conclude that respondents also violated Section 4 o 1 of the Act , aff d in relevant part R W Technical Services v CFTC 205 F 3d 165 5 th Cir 2000 Respondents also violated Section 4 41 b of the Regulations by presenting hypothetical or simulated performance results without accompanying those results with the prescribed cautionary statement. Findings of Violations. Solely on the basis of the consent evidenced by the Offer, and prior to any adjudication of the merits by the Commission, the Commission finds that Respondents violated Sections 4b a i and iii and 4 o 1 , and Commission Regulation 4 41 a and b. Offer of Settlement. Respondents have submitted an Offer of Settlement Offer in which they, without admitting or denying the findings in this Order. A Admit the jurisdictio n of the Commission with respect to all matters set forth in the Order. B Acknowledge service of this Order.1 the filing and service of a Complaint and Notice of Hearing.3 all post-hearing procedures.4 judicial review by any court.5 any objection to the staff s participation in the Commission s consideration of the Offer.6 any claim of Double Jeopardy based upon the institution of this proceeding or the entry of any order imposing a civil penalty or any other relief and.7 all claims which ITSL, ITSA or Swannell may possess under the Equal Access to Justice Act, 5 U S C 504 1994 and 28 U S C 2412 1994 as amended by Pub L No 104-121, 231-32, 110 Stat 847 and Part 148 of the Commission s Regulations, 17 C F R 148 1 2000 relating to or arising from the Order. D Stipulate that the record basis on which the Order may be entered consists solely of the Order and the findings consented to in the Offer, which are incorporated in the Order and. E Consent to the Commission s issuance of this Order, w hich makes findings and.1 orders respondents to cease and desist from violating Sections 4b a i and iii and 4 o 1 of the Commodity Exchange Act the Act , as amended, 7 U S C 6b a i and iii and 6 o 1 1994 , and Sections 4 41 a and b of the Commission s Regulations, 17 C F R 4 41 a and b 2000.2 orders respondents to pay, jointly and severally, Ten Thousand Dollars 10,000 00 , which represents a civil monetary penalty ITSL, ITSA and Swannell shall pay the total amount within ten 10 days of the date of the Order by electronic funds transfer, or by U S Postal money order, certified check, bank cashier s check, or bank money order, made payable to the Commodity Futures Trading Commission and sent to Dennese Posey, or her successor, Division of Trading and Markets, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21 st Street, N W Washington D C 20581, under cover of a letter that identifies ITSL and the name and docket number of the proceeding respondents shall simultaneous ly transmit a copy of the cover letter and the form of payment to Director, Division of Enforcement, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21 st Street, N W Washington D C 20581 and.3 orders respondents to comply with their undertakings as set forth in the Order.4 orders Swannell to serve a copy of this order, by certified mail, on any person who purchases from him ownership, licensing, or distribution rights concerning ITSL, ITSA, the Collective software trading system, or the domain name. Accordingly, IT IS HEREBY ORDERED THAT. A Respondents cease and desist from violating Sections 4b a i and iii of the Commodity Exchange Act the Act , as amended, 7 U S C 6b a i and iii 1994 , and Section 4 o 1 of the Act, as amended, 7 U S C 6 o 1 1994 and Sections 4 41 a and b of the Commission s Regulations, 17 C F R 4 41 a and b 2000.B Respondents pay, jointly and severally, a civil penalty of 10,000 They shall pay the total amount within ten days of the date of the Ord er by electronic funds transfer, or by U S postal money order, certified check, bank cashier s check, or bank money order, made payable to the Commodity Futures Trading Commission, and sent to Dennese Posey, Division of Trading and Markets, Commodity Futures Trading Commission, Three Lafayette Centre, 1155 21 st Street, N W Washington, D C 20581, under cover of a letter that identifies Trendy and the name and docket number of the proceeding Respondents shall simultaneously transmit a copy of the cover letter and the form of payment to Director, Division of Enforcement, Commodity Futures Trading Commission, 1155 21 st Street, N W Washington, D C 20581 In accordance with Section 6 e 2 of the Act, 7 U S C 9a 2 1994 , if Respondents fail to pay the full amount of this civil penalty within fifteen 15 days of the due date, they shall be automatically prohibited from trading on all contract markets until they show to the satisfaction of the Commission that payment of the full amount of the ci vil penalty with interest thereon to the date of payment has been made and. C Respondents shall comply with the following undertakings.1 Respondents shall not misrepresent, expressly or by implication. a the performance, profits or results achieved by, or the results that can be achieved by, users, including him herself, of any commodity futures or options trading system or advisory service and. b the risks associated with trading pursuant to any commodity futures or options trading system or advisory service.2 Respondents shall not present the performance of any simulated or hypothetical commodity interest account, transaction in a commodity interest or series of transactions in a commodity interest unless such performance is accompanied by the following statement, as required by 17 C F R 4 41 b. Hypothetical or simulated performance results have certain inherent limitations Unlike an actual performance record, simulated results do not represent actual trading Also, since the trades have not actually been executed, the results may have under - or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In doing so, Respondents shall clearly identify those hypothetical or simulated performance results which were based, in whole or in part, on hypothetical trading results.3 Respondents shall not make any representation of financial benefits associated with any commodity futures or options trading system or advisory service without first disclosing, prominently and conspicuously, that futures trading involves high risks with the potential for substantial losses.4 Respondents shall not represent, expressly or by implication. a the performance, profits or results achieved by, or the results that can be ac hieved by, users, including him herself, of any commodity futures or options trading system or advisory service. b the risks associated with trading using any commodity futures or options trading system or advisory service. c that the experience represented by any user, testimonial or endorsement of the commodity futures or options trading system or advisory service represents the typical or ordinary experience of members of the public who use the system or advisory service unless i Respondents possess and rely upon a reasonable basis substantiating the representation at the time it is made and ii for two 2 years after the last date of the dissemination of any such representation, Respondents maintain all advertisements and promotional materials containing such representation and all materials that were relied upon or that otherwise substantiated such representation at the time it was made, and make such materials immediately available to the Division of Enforcement for inspection and co pying upon request.5 Neither Respondents nor any of their agents or employees under their authority or control shall take any action or make any public statement denying, directly or indirectly, any findings or conclusions in this Order or creating, or tending to create, the impression that this Order is without a factual basis provided, however, that nothing in this provision affects Respondent s 1 testimonial obligations or 2 right to take contrary factual or legal positions in other proceedings to which the Commission is not a party Respondents will undertake all steps necessary to assure that all of his agents and employees under his authority and control understand and comply with this undertaking.6 orders Swannell to serve a copy of this order, by certified mail, on any person who purchases from him ownership, licensing, or distribution rights concerning ITSL, ITSA, the Collective software trading system, or the domain name. Unless otherwise specified, the provisions of this Order shall be effective on this date. By the Commissionmodity Futures Trading Commission.1 Respondents do not consent to the use of the Offer or this Order, or the findings herein, as the sole basis for any other proceeding brought by the Commission Respondents do not consent to the use of the Offer or the Order, or the findings herein, by any other party in any other proceeding The findings consented to in the Offer or made in the Order are not binding on any other person or entity in any other proceeding before the Commission.2 The Internet is a highly beneficial medium that facilitates the dissemination of information, but which also enables potential violators to reach millions of people worldwide quickly and at very low cost By this proceeding and the other proceedings being filed contemporaneously, as well as the ten proceedings brought on May 1, 2000, the Commission is addressing fraud committed on the Internet to promote the integrity of representations made on the Web concerning co mmodity futures and options trading systems.3 On July 12, 2000, the ownership of the domain name and control of the URL was transferred from Richard Swannell to International Trading Systems, Inc a United States corporation incorporated in Delaware with its principal place of business in Florida The violations discussed in this order predated that transfer.4 In the Matter of R W Technical Services, Inc , Current Transfer Binder Comm Fut L Rep CCH 27,582 at 47,740-47,741 CFTC Mar 16, 1999 , aff d in relevant part R W Technical Svcs Inc v CFTC 205 F 3d 165 5th Cir 2000 See, e g , Saxe v E F Hutton 789 F 2d 105, 110 2d Cir 1986 Kelley v Carr 442 F Supp 346, 351-54 W D Mich 1977 , aff d in part, rev d in part 691 F 2d 800 6 th Cir 1980 CFTC v J S Love Associates Options, Ltd 422 F Supp 652, 655 S D N Y 1976.5 Fraudulent statements that induce members of the public to purchase software that generates specific buy and sell signals for commodity futures trading satisfy the in connection wit h requirement of Section 4b a R W Technical Svcs 205 F 3d at 173 See also Hirk v Agri-Research Council, Inc 561 F 2d 96 7th Cir 1977 noting that the in or in connection with requirement should be interpreted flexibly to include deceptive conduct that occurs prior to the opening of an actual commodity trading account.6 Section 4 41 b of the Regulations provides, in relevant part 1 No person may present the performance of any simulated or hypothetical commodity interest account, transaction in a commodity interest or a series of transactions in a commodity interest unless such performance is accompanied by one of the following i The following statement Hypothetical or simulated performance results have certain inherent limitations Unlike an actual performance record, simulated results do not represent actual trading Also, since the trades have not actually been executed, the results may have under - or over-compensated for the impact, if any, of certain market factors, such as lack of liq uidity Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight No representation is being made that any account will or is likely to achieve the profits or losses similar to those shown or ii A statement prescribed pursuant to rules promulgated by a registered futures association pursuant to Section 17 j of the Act 2 If the presentation of such simulated or hypothetical performance is other than oral, the prescribed statement must be prominently displayed.7 CFTC v Savage 611 F 2d 270, 281 9th Cir 1979 enforcement action charging defendant with making false reports to customers, engaging in wash trades and holding himself out to the public as a CTA without being registered with the Commission.8 Section 1a 5 specifically excludes from the definition of a CTA anyone who is the publisher or producer of any print or electronic data of general and regular dissemination, including its employees if such publisher s or producer s provision of commodity futures trading advice is solely incidental to the conduct of its business or profession, and thus Section 4 o 1 of the Act and Section 4 41 of the Regulations do not apply to such persons This exclusion is designed to protect incidental publishers of advice, such as general magazines and newspapers, not publishers who specifically concentrate on commodities advice R W Technical Svcs 205 F 3d at 174.9 See CFTC v British American Commodity Options Corp 560 F 2d 135, 141 2d Cir 1977 , cert denied 438 U S 905 1978 a firm that offer ed opinions and advice, and issued analyses and reports concerning the value of commodities to customers, was a CTA under the Act Gaudette v Panos 644 F Supp 826, 839 D Mass 1986 defendants who represented their advisory skills to be exemplary, suggested that plaintiffs open a commodity account and then recommended certain futures contracts for investment were CTAs.