DecisionBar by Les Schwartz- any reviews?

Discussion in 'Trading Software' started by doctoroe, Aug 10, 2008.

  1. doctoroe


    I've been looking at some new supplemental indicators for daytrading eminis and DecisionBar looks interesting. I have seen mixed reviews elsewhere. Any comments from folks who have used it? It's not particularly expensive but I don't want to waste setup and learning time if its not a reasonably effective addition.
  2. BZee



    hi, i myself have been considering trying DecisionBar. i came across some reviews at forexpeacearmy that you may want to take a look at. good luck!
  3. genejef



    Yes, there are all kind of opinions on the internet about decision bar. Questionable indeed.
    And is expensive ($99/month x 12 = $1,188 a year). Image using it 10 years - $11,880. Good for Les Schwartz for sure, not so sure for traders. The guy is having now another $99/month offer called TrendLine Trader.

    If you use eSigmal or Ninja Trader, there is a nice piece of software called PulseLineTrader
    Works for any timeframe or market. For daytrading 377 ticks, 3 and 5 minutes are fine.

    The price is excellent - only $595 lifetime license. And 60 days money back guarantee, free training, free chatroom, forum......
    See the videos they have for potential clients, FAQ, etc.

    Only my opinion - this little software is very underpriced compared with what is around today and is giving one of the best price/quality ratio (if not the best).
    But I'm not telling you to buy, every trader is different, take a serious look and decide for yourself.

    Good trading.
  4. Groin


    I just took a look at their website. It is a good-looking software. I'm just wondering how mechanical it is. I see that it has an audio signal alert feature, but what exactly does this signal alert one to? Is it a full-blow trade, or is the alert just tied to one of the system's indicators?
  5. procol33



    If you look at their website, it requires an additional monthly fee of $ 199 to get the piece of the software that shows the signals on screen.....not a cheap option....on the other hand, they have a chat room which has value also.....biggest prob for me is they don't support Tradestation which I not a choice for me...

    I think it's good to realize these programs are not heaven sent answers that will save us from ourselves...I for one am looking for the best piece of software that will help to confirm my entries and exits....

  6. 1st, c'mon genejef, Pulseline charges $199/ mo to get the signals. . . imagine using them for ten years. No shots at you intended as I am not a people slammer, but compare apples to apples please.
    I use TrendLine trader and will give my personal unbiased experience.
    First let me say I've tried WizeTrade (when I traded stocks - SCAM wants you to pay big $$ up front- it's a loser). For futures I've tried - Ablesys (expensive also $260+ per mo, though I believe it works if you tweak it), KwikPop $175/mo worked OK but ambiguous signals, and if you EVER hear of Tsunami Trade RUN- FAST. I did not take the plunge on Tsunami Trade as it smelled of scam to me right away. Read reviews of the people who've been taken. What a shame!

    OK, back to TrendLine Trader. Why have I tried so many indicator packages? Because we all are looking for the "holy grail" of trading aren't we? Folks, it is NOT out there and I've been trading since the 80's. I now only trade futures, and not even Trendline Trader is the "grail". BUT, I will say, for the money it is by far the best set of indicators yet, though I did have to tweak it to work within my timeframe and instrument. (ES 233 tick) Because Decision Bar / TrendLine does not charge a ton upfront (if you can't afford $150 to start and $99/ mo you shouldn't be trading futures) it seemed like a good bet to try. I soon found the "out of the box" signals were not right for my timeline. So I tweaked the stops and the momentum filter and voila, the signals were reliable with a caveat. . . you must pay attention to the Probability Oscillator and when and how to use it. My trading results improved immensely. I am disciplined and this software is probably not for a novice trader. I had somewhat of an understanding of the markets (Nobody is a guru I don't care what anybody says)
    Remember again, there is no "holy grail" of indicators or everybody would be a trader. Like has been said thousands of times - indicators tell you what happened in the market, not what is about to happen, there is no crystal ball. One compaint I've heard is Barry (tech support) and Les (owner) are abrasive and uncordial. Barry initially comes across as abrasive - sorry people grow-up. We all have different personalities. He and Les have ALWAYS taken time to answer my questions and concerns via phone and email, Les Schwartz even on Saturdays.
    For my money TrendLine Trader is worth every penny. If you need more info you can ask me questions, but I make NOTHING off of it. I just like to see people succeed.

    Also, as genejef stated:

    I'm not telling you to buy, every trader is different, so you have to decide for yourself.

    That comes with every software. But give ANY software a reasonable amount of time and paper-trade first!
  7. boid-dog


    I purchased the software and find it to be a fair deal. It seems that Finn the developer is constantly tweaking. $199 mo fee is really not necessary unless you are watching tv or reading the newspaper. The room is adequate...Snowman knows the system but like most his knowledge of anything other than PLT is minimal. They seem new to trading and some have the idea that 50 pt swings in the ES happen all the time...if that were the case you wouldn't need much of a system. Most of the room chatter is annoying. I don't mind the questions of those new to trading; it's more the eating of cookies and slurping of coffee and off topic chatter that I dislike.

    Finn lives in Norway and is not in the room as much as I would like. He is the brains behind the system. That said it is worth a look.
  8. rglim63


    I'll bite. What settings do you use for the stops and momentum filter?
  9. jem


    what are the chances this many shills would show up on thanksgiving weekend hawking a product no one has ever heard of - or two.

    I ll bite - lots of indicators constantly tweaked because there are not consistent profits -- right?

    No objective results - right?
  10. Gem, I see you're a trader and no I'm not a shill. I'm not hawking anything. Each trader must trade at his/her own risk.

    Please note - Trendline works. . . for me.
    It may not work for you or the next person. Each trader is unique in risk tolerance and goals. Scalping, riding the trend, different time frames and instruments traded, etc. Mine is two ES points per day on ten contracts, period. I am not greedy and trade for income.

    Doctoroe asked about it, I gave my experience with it and other softwares. Genegef likes Pulseline and. . . these and others I mentioned ( including the bad experiences) are all well known indicator add-ons. You state "hawking a product no one has ever heard of - or two." You say you're a reader in your profile and haven't heard of these, well read up. I will say this, it is up to each and every person to weed through the enormous indicator market BS out there. . . there's a ton of it. Gem, To you Trendline could be BS. Again, each of us is unique. It is what makes the market a challenge and one of the most difficult businesses a person will EVER partake in.

    As you can see by my prior post I've tried numerous software indicators and some are pretty bad and expensive. I also said Trendline Trader is probably not for a novice. The only reason I even tried TrendLine Trader / Decision Bar is because I use Ninja (charting is another issue in and of itself) and it came as one of their recommended softwares. Really, I don't care if anybody here uses it, again, it works for me. I was attracted by a couple things, pricing was reasonable (they won't get rich on $99 / mo unless they have repeat business) and they don't have a "called trades" room to hit you up for more money. I tried Kwikpop for about six months but, - "to be really good at it, join the 'mytrades room' for 'only' $250 / month". So $175/ mo for ambiguous indicators then $250 / mo to be good at it. $425 per month to be a good trader. If you really want an education, go to PureTick which is purely a called trades room where they trade the YM (though he does have some software for Tradestation, but does not make an effort to hawk it). I believe he does want to see traders succeed, though I only trade in the morning so I cannot sit there all day.

    Well rather than continue to drone on as I've done, I'll end this by saying, whether you trade using indicator add-ons, indicators included with charting or just by chart patterns - I wish you ALL well in your trading! Remember, the market owes us nothing and will "eat you alive" if you are not disciplined.

    One last note - I've become acquaintances with a futures trader who used to be a CME floor trader. He makes over 1M per year and does not use charting. He trades using the DOM! So as I said, we are all different.

    Good Luck to you all!
    #10     Dec 1, 2008