The strategy handed out in a public meeting showed ONLY gains and no losses over hundreds of trades (with the actual 'trades' themselves listed), and promoted an overall gain of 48%. That is the headline on the front page, with no mention of losing trades still running. It was not UNTIL I RAISED THE ISSUE ON THIS WEBSITE that it was then revealed there were in fact a number of open losing positions that were not included in the promotional list....nor even mentioned at all! Why did I need to raise the issue in order to have this important point brought to light? Does CoolTrade bring their potential customers into the office and say "Oh, you know that list of trades we gave you isn't....ah...correct? It is missing 18% of losses that are still active?" This is so clearly misleading to potential buyers of the software that I feel it is my responsibility as an experienced trader and member of this board to bring it to light. The FACT IS there are far more traders who lose money than who make money, no matter what broker or software platform they elect to use. And to use misleading promotional materials to say otherwise is against the spirit if not the letter of SEC and FTC regulations, and is simply dishonest.
No you are not telling the actual truth again! The hand out says 48% in CLOSED trades which is correct. This strategy does not close out ANY losing positions instead it adds another 100 shares when the stock drops 15% and 3 other technical indicators are met. It does not close out losing positions so there is no way to put them on a report. To answer your question above, yes 100% of every client that calls and asks questions about the hand out is told about the open inventory and that particular strategy is explained in full. When any representative of RTS does a demo of the software for a customer they even use then trader that happens to be running this strategy so again YES everyone is told about the open inventory as RTS explains the software in full before any spends one dime. Also nowhere has RTS made claims about how many people make or don't make money in the stock market. RTS also explains that the strategy is used for demonstration purposes only and makes no buy or sell recommendations. RTS does not advise people to use any particular strategy and most people use the software to design one of their own strategies and to help take the guess work out of trading by using technical indicators with an automated trader. They also offer UNLIMITED support and training on the software. There is no up selling as everything is included in the price. They respond to technical support 7 days a week. There is no hidden agenda or hidden charges. Once again how can you bash the software when you have NEVER even seen it? There is no high pressure selling. It is a tool to help people trade. The only complaint anyone can find on the Internet is from you and you have NEVER even seen the software work. It is really hard to understand why you keep bashing the software when you know nothing about it. If it was so misleading don't you think the actual users would be complaining??? If the software is not for you then that is fine and you don't have to purchase it but to tell people it's a scam because you don't like a handout is in my opinion wrong and dishonest. I'm sorry you are so angry about this and wish you the best. RTS has offered to show you the software in detail after you called them but you never called back or returned an email after your initial inquiry. I do want to thank you for the comments as they do allow me to post all the great benefits of the CoolTrade software. www.robotictradingsystems.com
I have been using cool-trade for more than 7 years. I did it all those years ago just as an experiment and I must admit that I rarely even look at it. I have tried only a few of the stock strategies so I don't change very often. Maybe 3 times over the whole time. This thread is the first time I have heard anyone describe what I have wondered about all this time. In the entire 7 or so years, my ACCOUNT at the brokerage house has lost about 30%. I have raked up lots of short term gains but the account now just stays around the same amount for the last 2 or 3 years. So, my question is what good am I really doing? The Closed gains are nice to see, but, if the account value never really changes or even goes down slightly.... I am not very knowledgeable about trading so I would welcome any explination..
JDub, CoolTrade was new 7 years ago and did not have any pre-made strategies, so I don't know what strategy you are running. However, we have all learned a lot in the last 5 years, and there have been many very consistent strategies created, that take profits consistently. Also, there have been many new features add to the software that are built into the new strategies, like Profit Protection, and take all available profits at the end of the day. It's also possible that the strategies you are running from 7 years ago are doing things that are unfavorable for todays trading. Clients are always discussing very good strategies on the CoolTrade Community board. You should send email to customer support so they can point you to successful strategies.
Thanks I have kept up with software updates and I have been running up to date strategies - I think... I ran the under 2 dollar for a long time and changed to the agressive long and short stratigies about a year and a half ago. Still the same results. I do not alter the strategies at all since I really don't know much about this stuff; I just run it as is. I'll be happy to change again if you or anyone could suggest a better strategy.
JDub, I would absolutely not be running the Agressive strategies. From what I can tell, those are run by people who are constantly modifying them to chase the market. My favorite strategies are the DOW 30 ($1 Moves) strategies. Those are long term strategies that constantly take profits, almost every day. They are discussed a lot on the CoolTrade Community board and I've heard nothing but positive remarks about those strategies. What's especially nice about them is the DOW stocks are always moving and these strategies only trade those 30 stocks. To copy those strategies, click OPTIONS on the main strategy screen. Then click COPY STRATEGY at the top of the popup menu. Then, at the top of the Copy Strategy screen, search the list of email names for OFFICE8@COOL-TRADE.COM. Then click on that email address. That will show all of the strategies owned by that email name. Then you simply select the Dow 30 Long in the COPY SOURCE at the top and I suggest you select the Agressive Long strategy as the destination to overwrite that strategy with the new one. Then do the same thing to copy the DOW30 Short strategy. The DOW 30 Short strategy is on OFFICE9@COOL-TRADE.COM. Those new strategies take advantage of some of the new CoolTrade features, like Profit Protection if you have reached 1/2 of our profit goal. They also take any profits at the end of the day that are up over $50. Best to you! Ed
I was recently introduced to cool trader by an mlm friend. It seems like there is a pretty high potential for screw ups if a day trader type tried to out guess the software. Thanks for this forum. I am getting some insight. Would you long term users still recommend it?
I've just signed up to it. I came to the conclusion that when I sat at the computer all day watching stock go up and down, I made a profit. When I'm busy and go for long term investments I don't do as well, so looking at the philosophy behind cool trader of keep taking profits when they are there, I'm hoping for good things. So far I've had to buy a PC (I'm Mac based) to run it, no doubt not being use to Windows 8 is probably the route of my installation problems. I'm calling them tomorrow. It's a bind for me being UK based, half a day goes by each time before I can get hold of anyone. I think if they are intent on pushing it out World wide to trade across the planet a 24 hour support will be needed. So far I've not been able to run it even in simulation mode. Which is disappointing as I'm so keen on getting this up and running, I really do expect it to make me a profit. http://www.cooltraderpro.com/pws/Buster Bank
they offer a very typical Business plot which is very Close to be None legal. Showing strategies with good backtesting result is easy, earning Money in real trading is much harder. They want you to be their Clients and give the strategies for free(with good looking historic reports) . If the strategy does not work in the future they re optimize it (no Problem). In a real legal (and registered) Money Manager program this would not be possible; but as they trade (half legal) on your behalf they think that can advertise historic theoretic results (without showing any risk disclaimer or anything).
This link is not working so I cannot see what you are describing: http://www.cooltraderpro.com/pws/Buster Bank The company is not MLM but does pay a reseller fee for introducing the software. Anyone selling anything in the world gets paid something. Regarding disclaimers: They are at the bottom of every report. I know the starter strategies provided inside the software are "user provided" strategies that have been running since 2009. There is no backtester in the software. I'm certainly not going to edit someone elses strategy. Though you can edit the strategy after you download it, and many do tweak the default strategies. Also, we provide strategies to help get you started in SIMULATOR mode and we encourage everyone to run in Simulator mode until you are happy with the strategy results and you understand the strategy and the software. If/when you go live is between you and your broker, and the software runs on your computer. The company is out of the loop, and does not make any buy/sell decisions, and does not execute any trades for you. That is all done in your house, on your software, between you and the broker. If anyone is having questions they should just send email to technicalsupport@cool-trade.com, as there is a whole company with about 30 employees there to assist.