I've seen their videos on youtube and their website, their software looks great and I am considering investing. Before it decide to invest in their software which costs upto $5,000, I need to know a bit more about this company. http://ofav5.com http://www.orderflowanalytics.com/ There are a few things that worry me about the company. I am not saying they are bad, or that they are a scam, I am just looking for information about who they are, so that I know if it is worth investing or if they will run away with my hard earned money. As such I would appreciate comments from other forumers, especially those who have been around prior 2009 to ensure they are genuine forumers and not vendors. I contacted them, and here is the information I got: - They are a virtual company (I was told they are incorporated in the state of Delaware), - They don't have a physical business address, - They do not provide a phone number and instead they propose to call you, ie you can't trace where they are located from their phone number, - They don't provide a free trial of their software, instead they would show you a video in live of the live market to see how the software works, so that you can verify from your home with your own personnal trading platform that the prices they are showing on screen are genuine. However, I would prefer a free trial and install the software temporarily on my own machine to avoid any sort of manipulation if such a thing is possible. - They ask for an upfront payment of upto $5,000 to buy their software (it's not a lease), whereas most of their competitors would lease you a software on a monthly basis for say $ 50 to $200 a month. If you're not happy with OFA's software after a month or so, you lose $5,000, not just a couple of hundreds $$... What happens if they shut the door, or take the money and I never hear of them again... They don't have a physical address so I can't knock on their door and make a claim... - From what I read on other forums, like trade2win and traderslaboratory, the other forumers were commenting on the software from what they had seen on the youtube videos or the videos of the website. None of the forumers had actually paid for the software and used it. Once again, the software looks excellent on the videos, but what about the company selling them. I do not believe they have a company registration number and I do not think they are registered with a recognised professional body. Again, I am not saying they are bad, I just find very bizarre they are not even trying to show their potential customers they are a solid and reputable company. I did not have any problems to get the physical addresses, company registration numbers of their competitors, but for Orderflowanalytics / Preveda, nothing. OFA's software seems better than their competitors', but maybe it is too good to be true... You tell me...
They did a trial demonstration for a few hours a few months ago. The guy did 3 trades, all 3 were direct losers. He said : "Well, that's trading" You can have that software for free on ninjatrader with GOMI ladders etc. It's open source, google for it. Save your money, learn how to trade, make your own trading system. I made the same mistake and lost a lot of money by investing/buying somebody's indicators. Why would somebody have a perfect trading system and sell it on the internet while he could just trade it and fill his account and buy everything he desires ? I guess that says it all.
Thank you for the link. Interesting information. Have you looked at marketdelta? http://www.marketdelta.com/Delta_Footprint They offer a one month free trial and is subscription based software for less than $200 a month....
Hard to tell. The quality of visualization looks great. But don't assume great visualization of order books will translate into a great strategy. Traders and hedge funds have been looking at order book and order flow just as long as traditional technical analysis. I've developed strategies built on order book data for a hedge fund. There is a little bit of short-term edge there. But its not easy or intuitive to extract. The best value for money and time, in my opinion, is to first investigate where other people are making money in the industry.
IF YOU GIVE THEM A CALL THEY WILL GIVE YOU A LIVE DEMO WHILE THE MARKET IS STILL OPEN. IF I WAS TRADING THE ES THIS IS THE SOFTWARE I WOULD BE USING . ALSO GOOGLE ORDERFLOWANALYTICS REVIEWS
Call me skeptical, but after being met by a "theatrical trailer", I felt no reason to continue exploring their website. $5000 up front, no trial? It's hard to take that seriously... If you want to track order flow, why not use MarketDelta?
The starwars background music I thought was very impressive. with notational references 'plan your attack'. Makes me want to jump up and write that check for 5k http://www.youtube.com/OrderFlowAnalytics
why choose them? Every vendor on youtube apparently makes a killing everyday! I cringe when I watch all of these vendor vids. I also feel sad at the money they are taking from people, but at the same time, a little jealous! It's so easy to convince people that what you have will make them rich and charge them loads of money for it with no 'come back'. how about these instead?: http://www.youtube.com/watch?v=bPcflqFno1U&feature=feedu (note, that's not a recommendation. In fact, from what I gather from a little googling, these guys are are just the usual scammers. Some AWEFUL reviews on them) " paid $10,000 for nextbartrading Masters and Mentor course and I must say that this is the stupidest thing I have ever done in my life. After few sessions I realized that I have more experience and knowledge than him. He does not have a basic understanding of Math and numbers and how they are important for trading. It took me close to five years to become what I am as a trader and the frightening part of nextbartrading teaching is to go back to the same mistakes I made as a newbie. 1. The Risk to Reward ratio is mostly negative. Strange as it may sound, he does not discuss Risk to Reward ratio. Finally I gave up on him on R:R 2. He did not show me an EXIT strategy even after several sessions. My question was very simple: How do we manage a bad trade?. He never gave me an answer because he never gets out of a trade.(See#3) 3. He hangs onto losing trades. Not only he hangs on to losing trades but also adds position to losing trades. In my early days of trading, I used to hang onto losers and now I believe in ââ¬ÅLosers average Losersââ¬Â. It does not work for me. 4. Despite my repeated requests Eleazer never traded live markets when I am watching him. He always points to the charts that happened in the past. Finally, after much insisting he took two simulated trades in crude and both of them were BIG losers. The Profit target for both of these trades were 8-10 cents and they went down by TWO DOLLARS!. He justifies these big losers as a paper loss. I would have agreed but do we have to go down by TWO Dollars for 8-10 cents of profit?. This goes back to my first point of how important Risk to Reward ratio is........"