The Collective2 autotrading software tracks performance results of trade signals entered by publishers on the system. All performance results must be regarded as "hypothetical" for tracking and metrics purposes. Please read the entire page to understand how performance tracking works.
Please read below for an explanation of how systems are evaluated by the trading platform.
Sample Illustration: Hypothetical Performance Results of Trade Leaders and Publishers (click to enlarge)*
All results displayed must be regarded as hypothetical. Elsewhere on this Web site we warn you about the risks of relying on hypothetical results. Hypothetical results can be vastly different than the real-life results you can achieve in your trading account, almost always for the worse.
Since all results on the trading system must be regarded as hypothetical, we believe it is useful to explain how these hypothetical results are calculated on this site. The purpose of this page is to describe with some technical detail information about how we gather and calculate hypothetical results.
The general way it works is as follows:
Strategy Publishers enter buy and sell signals in real time. Strategy Publishers using the platform must transmit to us specific buy and sell information in real time. In other words, strategy publishers do not send us a historical "track record" purporting to show how they would have traded in the past. Rather, they enter into our Web site (or use electronic transmissions through our software API) a specific, actionable recommendation, at the time that action must be taken - for example: BUY 50 shares of IBM at Market, or SELL SHORT 1 E-Mini S&P futures contract at limit 2105.50.
Once we receive this trade "signal," the trading system does two things.
First, it attempts to simulate how a real-life trader following the exact instructions of the publisher, at the exact moment that publisher makes the recommendation available, would fare. For this we use real-time quote feeds from various exchanges. Our simulation software uses the bid/ask spreads provided by these data feeds, where available. In other words, when a strategy publisher instructs us to BUY at market, we assume the trade will be executed at the ASK visible at the moment the signal is received.
Simultaneously, at the moment the strategy publisher enters a buy/sell signal, the signal is relayed into the brokerage accounts of the AutoTraders who subscribe to that strategy.
Some trading systems have no subscribers, or no AutoTraders. In these cases, the results shown on the trading system will be based solely on quote-feed data, and are best-guess estimates of what a real trader might achieve.
For strategies with AutoTrading subscribers, receives electronic trade confirmations from the AutoTraders' brokerage accounts. These electronic messages inform us about the actual execution prices achieved in real-life trading accounts. In these cases, the trading system displays as the hypothetical trade price the volume-weighted average execution price from all brokerage accounts reporting the specific execution in question. This data, while perhaps nominally more useful than hypothetical fills based solely on quote feeds, must still be regarded as hypothetical data, and the same dangers of relying on such hypothetical data still apply.
Please keep in mind that:
These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical 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 these being shown.
In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program, which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
* Just to be clear: All the track records you create as a Trade Leader using any trade order submission method are always “hypothetical” because – even though the buys and sells are generated in real-time – there is no single real-life brokerage account record that looks exactly like any strategies. All of our standard warnings about the problems with hypothetical track records still apply.
The trading system does not permit modification of trading records. When a system issues a "Buy" or "Sell" signal, we post our best estimate of what real-life traders would see in their accounts. When we have real-life data from real accounts, we use that as the basis for posted trade results. When we don't, we use real-time data feeds to estimate results.
System publishers cannot delete signals or selectively edit or modify them with the benefit of hindsight. So, for example, if they issue a signal to "BUY" and then suddenly see a losing trade, they can't remove the trade from their record and say something like, "Er, but I reallly would not have actually issued that trade." Whatever executed signal they issue becomes part of their permanent trade record.
System publishers cannot post historical (i.e. back-tested) results. All results on the trading system are based on go-forward real-time orders.
The trading software does not delete or hide failed trading systems.
Now, of course the warning still applies to all the results you see on the autotrading platform:
All performance claims on this web site about trading system performance must be regarded as hypothetical. Use of this Web site to offer or subscribe to a trading system indicates you agree to our Terms of Service. There is often a vast difference between hypothetical results and real-life trading results achievable in an a real brokerage account, and real-life results are almost always vastly worse than hypothetical results.
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* Market Research, Tools and Opinions are Provided by Third Party Independent Providers.
* Individual, Entity (Corporate, LLC), and IRA Accounts are Eligible to open accounts.
* SEC, FINRA, TAF Regulatory and Exchange Fees are debited to customer account for Stock Trades.
* OCC/ORF, and CBOE Exchange Fees are debited to customer accounts for Options Trades.
* SPX, VIX, RUT, NDX, DJX, NDX, OEX, and XEO CBOE Proprietary Exchange fees are debited to customer brokerage account.
* We reserve the right to debit your account for any venue, routing, or exchange fees without prior notice.
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Third-Party Publishers, Software Developers, and AutoShares are unaffiliated companies and are not responsible for each other's products and services. By utilizing any service with your AutoShares Online Brokerage Account you assent that all orders, trade transactions, and trade executions are self-directed by you at your discretion, and that all orders and trades submitted are executed at your own risk and liability. You agree to be held entirely liable for all orders and trades executed in your account. If you effect trades based off of any information on this website, you are choosing to do so at your own risk and discretion. AutoShares does not provide any financial or investment advice. Any investment decision and/or strategy that you make or utilize, whether or not such decision or strategy derives from or relies upon material accessed or provided through this website, is done so at your sole discretion and your own risk. Before making any investment decisions, please consult additional sources of information and/or your legal or tax advisor.
AutoShares does not recommend or endorse any investment instruments or trading strategy. The material on this website is provided for informational and educational purposes only and shall not in any manner be considered a recommendation or endorsement of any strategy or investment.No content published by a publisher as part of trade alerts constitutes a recommendation or that any particular investment, security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Neither a publisher or AutoShares will advise you personally concerning the nature, potential, value or suitability of any particular investment, security, portfolio of securities, transaction, or investment strategy. Accordingly, do not attempt to contact publishers or AutoShares for guidance or for seeking personalized investment advice, which they cannot provide. To the extent any of the content published as part of the Services may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. Any opinion, recommendation or alert of any independent third-party provider is the sole opinion of the publisher and does not express the opinion of AutoShares. Any investment decision and/or strategy that you make or utilize, whether or not such decision or strategy derives from or relies upon material accessed or provided through this website, is done so at your sole discretion and your own risk. Please consult additional sources of information and/or your legal or tax advisor.
System response, trade executions and account access may be affected by market conditions, system performance, quote delays and other factors. The risk of loss in electronic trading can be substantial. You should therefore consider whether such trading is suitable for you in light of your financial resources and circumstances. * Commission rates are negotiated. You may qualify for rates shown based on your activity. Other fees and conditions may apply, please see our commissions and routing fees.
AutoShares® is a Division of ViewTrade Securities, Members FINRA and SIPC. FINRA Brokercheck for Viewtrade Securities. For business development and branch opportunities contact 1-800-847-8495. As a member of the Securities Investor Protection Corporation (SIPC), funds are available to meet customer claims up to a ceiling of $500,000, including a maximum of $250,000 for cash claims. For additional information regarding SIPC coverage, including a brochure, please contact SIPC at (202) 371-8300 or visit www.sipc.org. Our Clearing firm has purchased an additional insurance policy through a group of London Underwriters (with Lloyd's of London Syndicates as the Lead Underwriter) to supplement SIPC protection. This additional insurance policy becomes available to customers in the event that SIPC limits are exhausted and provides protection for securities and cash up to an aggregate of $600 million. This is provided to pay amounts in addition to those returned in a SIPC liquidation. This additional insurance policy is limited to a combined return to any customer from a Trustee, SIPC and London Underwriters of $150 million, including cash of up to $2.15 million. Similar to SIPC protection, this additional insurance does not protect against a loss in the market value of securities.
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