I have seen that report and there were a few losers, but I agree there were only a few. However, I have run the strategy that they are trading and it is simply closing winners every day and adding to losers on 10% drops and then closing posiitons LIFO. Once it sees profit in a position, the software rides the position higher until it starts to pull back and then it closes it. Essentially not allowing a winner to turn into a loser. That strategy is not rocket science and works fine over a long period of time. It is not day trading though it does close positions on the same day they were opened if they are profitable. If you don't like that strategy, there's no reason to call it a scan. You can chose a different strategy, or create your own. If you prefer to set a .05 trailing stop loss, you can do that too. I would not put you down for using a .05 stop loss, even though I don't agree with it in my strategies. However, such a thing may suit your strategy fine for daytrading. It is just software that trades the stock market 100% unattended, from building the watch list, to opening positions, adding to positions, and closing positions, in accordance with the selected strategy, without any human emotion.
How does someone handing out a list of closed trades make that company a scam? I've seen the same list and I asked the same question about losing trades and the guys at Robotic Trading Systems (CoolTrade) explained to me that the list was only closed trades and that there was open positions that were in the negative and that this strategy trades LIFO. They also showed me the actual trader that produced this report and if they had closed out every single position the NET profit was still over 30% even with the losses . Please explain your great strategy that makes more than 30% in 6 months! They sell a great software that helps people trade and execute whatever strategy they input. Not sure how you can call that a scam. I would know the facts before you post something negative about a company!!!
Hmmmm.....so I am not clear about why Cooltrade would fit as a scam? I have used the software and I have my best friends using it and we are all having great trades execute. Each strategy executes trades to rules that I have put in. It buys and sells automatically. Sure I saw the same report and I asked the guys at Robotic Trading Systems to explain it. I have even seen the machine that is still running currently. They were very open and easy to talk to. They showed me how the trader looks for profits and continues to hold positions but makes additional buys or sells (if short) and trades in the new stock price range. My suggestion is to go to their office and get the details of the system.
Hmmmm.....when somebody defends a company with ONLY 6 total posts under their name, I get suspicious. It should be soo easy to know which ones are legit, but it's not. We all know it's shady to sell something so "valuable". This would solve everyone's financial problems!!! LOL. And of course it doesn't. The Fed government would buy the system; hedge funds trading billions would use it. LOL. But they don't. I wonder why. Also, I see videos online from other gurus and EVERY single video has them making money. LOL. That may not be technically fraudulent, but it's definitely not honest nor likely ethical. They hype winners every single day, and never talk about the losers. That is SALES, not trading. It's pretty lame. I just went to cleartrade's website....looks like it cost a few thousand. that is nothing. so it makes me wonder, 'do they not have much money for a professional website?' 'why does their website look 10 years old?' IBM certainly has a nice website.
A post was made to the CoolTrade Community board to see if some ACTUAL clients would come and talk about their experiences with the software. Seems quite unjust for a NON-USER to call something a scam. No software or product in the world can satisfy the biases of everyone, especially when they are posting about something know absolutely nothing about. The robotic trading systems office has an open door and the person posting (sounds local) could easily go to their office and see the product FIRST-HAND and see that the software is real, instead of jumping to incorrect conclusions.
Again, nobody is claiming their are no losers, they are just claiming LIFO as the particular strategy that was talked about. I just went to www.robotictradingsystems.com and it looks like an up to date website to me. What are you looking at? Also if Cooltrade is a scam then how does TD Ameritrade, E*Trade, Interactive Brokers, MB Trading, OptionsHouse, OptionsExpress, and TradeKing all support the software for their clients? It is a tool to help people automate their own strategies and has more broker support then any software I have seen
only trust someone offering to teach you their secrets on their deathbed. Jack Hershey in his final moments
Even a person with one post (who actually uses the software) is more credable than someone with 23 posts, who has never used the software. There are hundreds of posts on this site talking about CoolTrade. Here 's one with 1538 posts under his belt: http://www.elitetrader.com/vb/showthread.php?s=&postid=1091364&highlight=cooltrade#post1091364
area code 801 is Utah and for whatever reason MANY scams originate out of utah so beware. EMG how about Hindsight Trading...charging 10K to learn their "propitiatory" signals and how to trade emini's. Another group out of Utah. My nephew is thinking of signing on and he has absolutely no experience in the markets or in trading.