They now have the Universal Market Trader. Less money than UTM. Still more than I would be willing to spend, since I fell for the UTM. If any one can figure out their indicators or maybe someone bought it and is willing to share. UTM is nothing but stoch indicators on 3 & 10 min chart, shameful to spend $995 on a stoch indicator. Ryan Watts indicators will do the same thing for $47 if you apply them to 3 & 10 and look for them to line up. They can be lined up and still not work every time. Is Traders International or Right Angle Trading any better? I don't know what their settings are, but it is Stoch also. Any help appreciated, Al
I'm an owner of UTM which I am using to trade ER2. It's profitable if you use it carefully and if you use the new momentum filter which they added. The original package they provided when purchasing the system was very amaturish and inaccurate. You had to watch their videos on actual trading for many months before you had all the rules for trading the system. They obviously did no backtesting and adjusted the rules as time went on to make it somewhat profitable. They also developed automation software for trading the system which they licensed to users for $695 for one years\'s use. The automation, which Brian Short stated would accurately trade the system automatically, has lots of bugs which they never fixed, thereby rendering it useless. Anyone who purchased the automation should request a refund. The Universal Market Trader, their latest marketing campaign, is a disaster. It seems cheaper because you pay monthly, but you need to stay with it for at least six months in order to get all the modules, so in the end it is more expensive than UTM. The system is very complicated and loses money. Netpicks runs a daily chat room to educate Universal Market Trader owners by trading ER2 using the system live. I monitored the chat room and all the trades for ten weeks and the result was a loss of $3300 per contract after commissions. The 50-100 owners who participate in the chat room seem to hope the results will get better. Universal Market Trader is a total waste of money.
Nils, I am astounded that someone as knowledgeable and sophisticated as you are even looked twice at a Netpicks scam! What were you thinking?
This thread was very active - now quiet. Just thought I'd toss in my feedback. I've had both the UTM and the new Universal Market Trader. I have done much better with the Market Trader. I don't think many of these comments are very objective -- seems like some people who either have never used it or some people who maybe tried to resell it against the terms and are bitter about being caught. It's not perfect, even the new one. I do have days that are less than ideal, but find my positives outweigh the negatives. However, you get everything upfront and you only stay on the monthly fee if you want -- there's a lot of freedom there opposed to the big upfront costs you usually see. I've bought nearly everything out there - - and agree a lot of it isn't worthwhile when all is said and done but my experience has also been people's expectations are for the holy grail, and when something has some losses it automatically is crap. Sometimes it's us who are crap. You have to make a system your own. I've put in my own personality and tweaks and that works for me. Well, that's my two cents. It's a good product, fairly risk free to evaluate (one month cost investment) and they've always helped me out in chat, emails and on the phone.
They are out with a new marketing campaign. It gives an alert and calculates entry, profit target and SL, It looks really good, but I hate spending lots of money on some moving avergages, that someone can surely figure out. If anyone has figured it out, that would be a nice Christmas gift.