ProRealCode MarketPlace: sell your trading products to thousands of ProRealTime users!
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When registering as a vendor, you have to give the name of your store (preferably the definitive one).
For example, when you type your store name, the definitive URL will be shown to you and the availability is checked (see attached).
The marketplace fee is 20% (VAT excluded) for each sale, there is no other fee.
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My opinion is that community reviews aren’t a much reliable criteria, so that a marketplace about financial trade products need to specifically focus on product testing and the right requirements to allow publishing a product at all. My question to the marketplace admin about testing of products is left unanswered until now.
There are too many circumstances which may prevent that reviews are real and honest measures about the quality of a product. Reviews may be unusable because the buyer doesn’t reveal any details of why a certain rating is given. Short comments like “Good product” would be totally unusuable and mean nothing. Reviews written by beginners not being familiar with the basics of risk management etc., so their trade activities end negative, many result in negative reviews which are unfair to the product and the seller.
I think the best is that a marketplace sets strong requirements for sellers to publish only products with a proven life trade history, and that publishing that history is mandatory. This has nothing to do with interfering with sellers freedom to chose what other information is published. Any marketplace sets rules about content to share, so why not to enforce life trading results?
I’m ready to spend money to buy strategy products. I have scanned the market a few days ago again which has now 52 trade strategies (if I looked correctly). The market place doesn’t help sorting products due to different criteria – like the most rated ones, the most recent published ones, the most often sold ones, etc. OK, 52 products can be looked one by one still (but not hundreds later on …).
The published material which I see is in most cases not convincing to select a product. That there are almost no reviews doesn’t matter that much to me due to the reasons mentioned before. The problem is the lack of published evidence of real trade statistics.
In this situation, my hope is that the announced product trial period to come allows to gain a better insight into what a product indeed does; first in own backtesting to see the past, and then hopefully in a short demo trade period being able to see what can be expected at today’s trade days.
I hope the input appears to be constructive as that is what I strive for. I hope that the PRT marketplace will make a big difference to what is find elsewhere. I think it is always an opportunity to take observations how other communities do, and use these observations to enable the better.
In that regard, I simply wish all of us success – the sellers, the buyers, and the marketplace and the people behind, making all that thankfully happen.
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For me, I would tends to stay with paid strategies with small SL, or at least moderate SL but with very good average MAE (lower better), to avoid being ‘mocked up’ with a extremely good back test result due to optimizing on SL.
High SL even with high win rate is generally much riskier in my opinion especially without live result nor trial (anyway, good news soon to come), as you could have a very bad start and loss gas (imagine 3% SL with 99% win rate, but hit by 3 consecutive losses because a trending strategy being played by side-way market), of course it doesn’t defeat all, and just my own preference if I want to pay for something.
1/ About the point where the bad review of a product doesn’t stay with vendor, could you not add a feature to tide it with vendor? Otherwise, like others says, once the bad product is removed, then the vendor is good to go again and he/she can modify a little bit, publish again another (or same) over-optimize product, grab some money, remove it again once bad review, and repeat the same again and again. I think this is unfair to the good vendor that made a lot of effort to develop, use their real money to trade live for months to years to see real result.
2/ Once the bad product is removed, what happen to the buyer? Is the subscription fee returned (especially if paid few hundred $ for 1 year subscription)? Or the seller still can enjoy from it?
3/ There is a little contradict, if bad product can be forcefully removed by admin, why cannot enforce some rules before to publish? As usually other marketplace just leave the bad review product as it is as well (then I guess we would prefer this as well so we can see the history of a vendor) 😉
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