That being said, if you really feel like a program that gives you only red and green lights is the holy grail why not save yourself some money and buy it off of ebay. There are currently 6 obviously unhappy users that are dying to unload it at a considerable loss. Here's the link _______________________________________________ I don't see any that are trying to actually sell the software Today 7/20 Early morning. I don't see how it would work if you did because you need a password to get in and they surely disable the one you have when you return the program.
PLEASE STOP YELLING for free end of day use http://www.prorealtime.com It has more then moving ave but for end of day only... You can also use wall street analyzer that gets updates from yahoo....also free....... www.lathuy.com Good luck Nick
I chatted today with a friend who suggested this progam to me. He says he loves the program, quit his day job and is financially independant. He really put alot of time into learning the program listening to the broadcasts bugging support etc. He has been working with it 4 months and has turned 2K into 35 K with no prior experience. I'm rather skeptical my self I'll be doing a lot of paper trading this week and am going to the one day seminar in Beechwood Ohio on Sunday so far I have made $198.15 on my paper trades. Joe
WizeTrade software uses something similar to multi bar linear regression crossovers. I knew a person who bought it and it took me less than 15 mins to duplicate their crossovers. I then backtested their settings over hundreds of stocks for intraday daytrading and it did not produce profitable signals. They also rarely if ever show their software during live trading hours. Why? Because I watched their signals showup and DISAPPEAR real time. You will often see crosses and then uncrosses once the market moves immediately against the position. So if you took every real signal you would lose money as many all of a sudden uncross right before your eyes. These are what are called losing trades! But I do admit if you take all the losing trades and WRONG signals off it will make you millions. Looking at it on the screen at a seminar gives you this impression, but again in live trading it is guaranteed to lose you money if you take every signal. I wouldn't use it to trade with if you gave it to me for free.
I agree completely - because if the analysis is done at the end of the price bar, you don't know how many whipsaws would have occurred before the bar finished forming. It is those whipsaws that would seriously degrade the performance of the system. However, I have a question. If we ignored live data for the moment and only applied it to closing prices, and assumed we could trade the closing price, then would the system applied to daily or weekly bars work? In my opinion, this would avoid the whipsaw problem, but then it would be a question of whether the system works on daily/weekly. I suspect it would be no better or worse than any simple trend following algorithm - breakouts, moving averages, etc. And from my experience, the success of trend following depends heavily on the asset you are applying it to. In other words, any asset where WizeTrade would be successful on, you could generally find success applying other trend following algorithms that don't cost an arm and a leg, and aren't black box. I had heard about them before, but first saw their promotion on one of the channels on the seat back TVs on an airliner. Pretty big claims if you ask me. There is sizzle, but I can't find the steak...
You are absolutely correct, it will work on any trending instrument. But as you said if you KNEW which instrument would trend you certainly wouldn't need Wisetrade and there are many better systems for trading trending stocks than Wisetrade's delayed entries. Any crossover system is going to be delayed. For trending stocks few systems work better than NR4 inside days and NR7 after a pullback, 3 to 5 days against the longer term trend. I use our software to find these and they are profitable most days and through backtesting they also are good swing systems (avg hold time 3 to 5 days). I daytrade them and get out whenever my chandelier trailing stop tells me to.
I bought the software to try it out, with intentions of returning it at the end of the day of instruction on how to use it properly. It didn't halp my trading. It was just an extra step. After getting the opinion of wizetrade, I still checked the charts like I usually do, and made a decision based on what I already know. I got my refund, after about 15 min of the sales team jerking me around. There is another (red light/green light) software simular that I tried and liked better. It was also $3k. I offered $300 for it. Thay didn't think that was funny. Everything I've tried so far has interferred with me making money. I would like to find some software that would help me save time scanning stocks, for around $300. Any ideas? I just look thru a bunch of charts to find buys, I'd like to find someway of speeding that process up. Would Stock Signal Pro be capable of filling my needs? Jim
You might look at TC2005 if you haven't. You can do a lot with it and it has great support and a huge user base. Decent data as far as I can tell and reasonable cost IMO. http://www.worden.com/XMLPage.aspx?xmlpage