Kwikpop not so good...

Discussion in 'Trading Software' started by diego1, Dec 10, 2003.

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  1. diego1


    Dear trader,

    I have complaints about Kwikpop.

    In the beginning I only looked at the Kwikpop website to see the daily performance of the program. I must say it looked great. I even thought I could make more than 1p/trade.

    So last month I decided to rent Kwikpop. This was the first time I saw Kwikpop running in real time. The biggest disadvantage was that the same candle can change his color : the opening could be yellow for example and a few seconds later the color could be blue or red.... Dick and Wayne say that you can replay the candles during the evening, but in real time it is
    TOTALLY different. The color does not change anymore! So afterwards it is
    always a lot easier and it gives you a distorted view.

    Many times we all receive Dick's emails with charts included. I noticed
    that many times only the good trades were mentioned. What a about the
    losing ones?

    The biggest disillusionment was that Wayne was (is) still looking for a good
    trade method last month. They have not yet founded the final method how to
    trade with Kwikpop. They only had one method, namely the method with the
    2min and the 233t chart. This method was (is) even not yet finetuned to
    become good trades.
    During my rent cycle (= november) the kwikpop trade results were very bad.
    A few weeks later, Wayne developed the 333t chart method.
    What I want to say is that they are still searching and testing methods. If
    I was a salesman, I will not sell my goods till I've found a good profitable
    method to trade..... True or true?

    Even when I look at the current trade results, 1month later, the
    performance is still the same. You win a point, and the next trade you lose
    a point. At the end of the day you have 1 or 2 points nett. Not much...

    I think there are better methods or strategies to trade with. Save your
    $175 or $2500.
    I can be wrong, but please let me know YOUR opinion, what YOU think. Do you
    have better experiences with Kwikpop? Let me know it pls.

  2. In much fewer words, your trying to say that KwikPoop stinks?
  3. diego1


    Indeed Bruto, Kwikpop stinks.

    I only want to substantiate my experience, that's the reason why my comment was quite long :)
  4. Yannis



    I have been using KP for about 15 months now and like it very much. Yes it took me a few weeks to develop some skill (and related patience) to use it well, but it happened, no problem.

    My ways of choosing trades and limiting risk are still evolving. On an average day I place 2-3 trades and clear about 4 points/contract (and then quit for the day) which is fine for me since I trade several contracts. That included of course this past November - I'm surprised to hear that you didn't fare well. You may need to papertrade it a little longer.

    Dick has developed and presents a very reliable technique (2 min and 233t) which is well documented at his website and works very well. It's been exactly the same for several months - and it is actually a small variation of his old 2 min and 1 min technique that he's presented and used for years.

    On the other hand, Wayne is always developing new methods for trading with KP and interacts a lot with the "research" group that he's formed with users. In this way, they can meet the needs of different people - those who want something reliable and those who want to improve upon everything. My opinion is that they (Dick and Wayne) work well together.

    If you want to discuss something specific, shoot, either here or via a pm or both. Good luck!
  5. Mir



    My experience exactly - I found KP to be a great tool for trend-following trading, which is my favorite style.
  6. diego1



    I've just looked at the easysignal website to see the action of today. Note that I only trade when the 2min chart gives a buy signal (higher low) or sell signal (lower high).

    So for today 12/11:

    2min chart 10:15 buy signal: worked fine -> +1point
    2min chart 11:30 buy signal: very difficult to make 1 point
    2min chart around 15:00 buy signal: worked fine +1point

    So at the end of the day, I could only make 2 points... Ok, you can trail your contracts thats true. Today trailing worked fine (we had a trend day!), but when we have a range, trailing is more risky imo.
  7. Yannis



    Develop experience and confidence in getting 2 pts/contract per day reliably and the investing world will beat a path to your door :)

    I know that it is not easy, but it is very possible with work and patience. Imo, KP is (one of) the very best trading tools to help you do that. At the risk of sounding like Wayne in his videos, KP helps you identify the local trend, gauge the current momentum of the market and pinpoint an entry point. Simple money management strategies that they offer or that you can get from books do the rest. It's not easy, I know, but it is doable.

    If you peruse my previous posts here (other than my jokes which are the best :)) you will see that over the years I have acquired and used several (if not most) of the popular trading tools and techniques out there: Indigo, OmniTrader, Pristine, Rhythm of the Markets, TCI, Traders International, and a whole bunch of others. Having come from a R&D background, I like adding to my arsenal of knowledge and tools all the time. Out of that experience, I have found KP to be the best (for me, of course.)

    Which is another way of saying, don't throw in the towel too quickly, there's value there for some people, make sure you understand it well before deciding for good.

    (Btw, I am just a happy customer, no $$ links with W & D of KP)
  8. Mir



    Again I find myself agreeing with Yannis' comments above :D

    Now, if you want to just vent some anger, this thread "may" help you do that. But if you want some good information exchange, with honest opinions and willingness to both teach and learn, take another look at the title you have adopted for this thread. Why not choose a more neutral and inviting set of words, like "Is KwikPop Good for Your Trading?"

    Just an idea.
  9. diego1


    No no, don't worry Yannis, I know you want to help me...

    Thanks for your comments!

  10. #10     Dec 13, 2003
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