Nexgen T-3 Fibs review update

Discussion in 'Trading Software' started by KiasuTrader, Jan 14, 2004.

  1. I started a thread couple weeks ago trying to find people who have used this software. I couldn't find anyone so I tried the free demo and just wanted to update anyone who is interested on my results.

    I got a reference for a long time user from my sales guy and the questions and answers are below. I definitely think the software is at least worth a look. Last week I paper traded it and had some small losses (6 pts on the week) due to the tight ranges and I wasn't sure where to take exits. This week since I understand the trading plan better even with the tight ranges I'm doing well. Since Monday I've made 13 trades with 11 wins 1 B/E and 1 loss. I was extremely skeptical at first, but it's starting to win me over.

    I am a newbie to this and the software gives you an easy methodology and a plan. In addition to the Fibonacci levels provided by the software and the other proprietary indicators it has I use the TRIN, TICK, Nasdaq, and Adv/Decline line and it's proven remarkably effective.

    1. How long have you used the software?

    I purchased the software in September 2002. Since I purchased the software it has improved 100%.
    They are good at providing free updates and have continued to improve the software.

    2. Do you think that it's given you a consistent edge?

    It is the basis for my trading. I start with the daily confluence I calculate each morning then add other
    inputs that I have each day. Often my analysis is a little different on the confluence levels but I use it a little different than John.

    3. How would you rate the product on a scale of 1-10

    I would rate it an 8. If they were able to somehow do the autofib analysis on the 1,5,15 and 30 minute charts
    and then generate the fib levels automaticaaly and output to a file for application across anytime length chart I would give it a 10.

    4. Has it helped you improve your skill as a trader and made you more profitable?