Oh no! A Positive Wizetrade Review

Discussion in 'Trading Software' started by Kronos Req, Oct 18, 2003.

  1. Let me start out by answering the first accusation that's going to be thrown at me.... yes, I became a registered user today. Why? Because I searched on Y! and found this, saw some of the negative reviews, and decided to post about it.

    I mean, God forbid this software's actually reviewed by someone who uses it. The vast majority of negative reviews I saw were written by those who were simply turned off by the marketing. Elitists who saw the positive reviews and decided to scoff at the people who wrote them.

    And it makes sense that people would be wary at first glance, of course. Why? Because it has an infomercial. It seems like we're hardwired to immediately dismiss this kind of service as a get-richer. We're hardwired to be cynical.

    But, ultimately, if you don't try it, you have no authority to post negatively against it.

    I've been a user for a few months, now, and have had some seriously positive results using the software. Of course there's more to it than the red/green lights, it's based on algorithmic charts that measure supply and demand.

    I recently attended their second yearly little festival in Dallas. 2,000 attended. From what I understand, last year's attendance was roughly 1,000.

    I don't think this is dying out, and I hope to God it doesn't. I've had some real success using this stuff, and I really wish more people would, too.

    When it all comes down to it....

    If you want to know more about it, call them up and ask about it. Don't listen to a bunch of overcynical pseudo-experts who haven't even tried this software.
  2. I'm happy for you and wish you more success, but as someone who OWNS WizeTrade (sorry everyone) and ditched it a few months ago, I would have to say Globaltec is a total rip-off. The software did not work as promised; the infamous "uncrossing" of the lines was apparent every day. The price of the software is absolutely ridiculous for what you get. I was a SUCKER for buying WizeTrade. The only good thing that came out of it for me was; I got involved in the markets. Before WizeTrade, I hadn't traded a single stock.

  3. A better use of the $3K would be to actually trade the markets and lose the $3K in the name of education. My total loss in the markets, including commissions, from the day I started is less than $2K! But now factor in my stupid purchase of WizeTrade, and it's $5K! :(

  4. In the meantime after my first post, I noticed a couple more complaints I'd like to respond to.

    I haven't as of yet run into any problem with "uncrossing" of the lines, so I'll do more research on the board as to what the problems with it have been and then respond to that issue. But, again, I haven't yet run into it. If you could post a link, I'd appreciate it.

    I actually got the software for about 2.5K, not 4. But I waived the warranty - knew a guy who talked me into it and offered to help, so I went ahead and took the leap. With the warranty, I think it was only 3K.

    I recently attended a seminar from one of GT's competitors, interested in seeing any differences. THAT price was 4K. As far as I can tell, it's a standard for the medium.

    The services that do cost less don't interpret the information (i.e., eSignal). Besides, WT uses eSignal TO interpret the information.

    It makes my trading easier by saving me work in the long run on stocks. Sure, it takes a little while to practice and learn the nuances of the software. They recommended I "paper-trade" it for a little while, and I did for a couple weeks before throwing my account into it. And, really, is that so negative? I mean, I spent 2.5K on it, I might want to take the time to learn it.

    And, now, I'm getting more successful.

    Best of luck on your own endeavors.
  5. funky


    i had no idea what wizetrade was until i just did a search on it here.....

    interesting thing going on here: seems as though every wizetrade thread is started by someone who just joined ET and it was their first post. hmmmmmm........

    anywhoo, just a quick idea i'll throw out there: if you had a system that made consistent profits, would you:

    1. sell the system
    2. trade the system
    3. both

    why sell the system? the money made trading it will be FAR greater. why sell AND trade it? you will just mess up your entries/exits when everyone you just sold the system to jumps in front of you, or worse yet, FADES you.

    IF you are not shilling here, i would suggest printing your first post out and saving it for a 'good laugh' later on, like so many of us have!
  6. I don't know how you got the software for $2.5K. I paid $3K for it WITHOUT the 1-week money-back guarantee. With the guarantee, they were asking $4K. Like I said, I was a sucker. I spent about 2 months trying to work with the software. I develop software for a living. so it's not that I didn't understand how WT worked. Bottom line: if it works for you, GOOD. But fact is, it does not work for the majority.

    Also, how long have you been trading using WT? Are you here posting after your first win or have you had consistent wins for the past few months?

  7. During the first couple weeks, when I wasn't trading with my account, I had some pitfalls, etc. What I noticed was that they were definetely narrowing after some time, so that's when I decided to stay with this.

    After that, yes, I have made money using this pretty consistently.

    Biggest profit so far is about $870 one day.
  8. You can't just buy the stuff and, without spending time to learn it, send it back and say it doesn't work. Hell, it takes time to learn each little edition of Windows that pops out, and another year for them to stop sending you a Hotfix every day.
  9. OK, what do you want? No one here is gonna run out and buy WT. They know better.

    You're making money with WT. Good for you. I bet you would make money regardless of WT since you probably have the psychological part down.

  10. I'm sorry, "psychological part"?
    #10     Oct 18, 2003