I am a prospective investor and has recently seen presentations on BusinessWeek's trading tool, Teach Me to Trade's tool & Wizetrades tool. I read reviews for wizetrade which were overwhelmingly negative. These reviews still did not help me as it seemed that most of the comments were made by investors who possibly hadn't used the software. This is a humble plea from a rookie for any input that might help. Of those three tools (Wizetrade, BusinessWeek, Teach Me to Trade) which might be the "best starter kit"? Any Suggestions? Sincerely, noahoren
Rule #1 - if anything having to do with trading is hyped via infomercial - run, don't walk, as fast and far away as possible before they pick your pocket.
Wizetrade's been discussed probably in a dozen different threads. Do a search and you'll get plenty of scoop on it...... Bottom line - black boxes don't work - trading is more difficult than that! Swish
>>> I am a prospective investor << This were your key words here. 1) Pick good strong profitable companies. 2) Educate yourself on technical analysis. 3) Formulate your strategy to buy those stocks at certain key levels (20, 50, 200 day moving averages and/or other indicators you decide on) and to sell when the trend has been broken as determined by your technical analysis. For a newbie investor I would recommend TC2000 as a "starter" charting package. Forget the Wizeguytrade black boxes (forever) and more complicated software packages (like Metastock or Amibroker) for now. Get your feet wet first with TC2000. You can do it. Good luck
For the kind of investing your looking at PLEASE do not waste your money on these you will be so sorry. I would highly recommend a subscription to Investors Business Daily and a learn the CANSLIM method. You will be very happy I promise. It will beat those others hands down for the type of investing you are looking for. He also sells 3 amazing books that will teach you everything you will ever need to know start with his most recent. www.investors.com
I was at my local Wizetrade 2hr free seminar about a month or two ago. The 3 Wizemen that they talk about is a Moving Average crossover system. All of their signals are generated with the basis of moving averages. Moving averages are free in a charting package, so if you educate yourself on it, you will likely be able to get the same signals and results without having to pay for their software to see green lights and red lights. Taking into consideration that you are absolutely brand new to trading, and might not want to delve into learning how to trade, Wizetrade is an acceptable "starter kit". It will cost you a lot of money to buy it ($3000 was it?) plus they got you paying a monthly fee for esignal. It is a costly way to get into trading IMHO but it takes education out of the equation. The only thing you have to worry about is making sure you stick to their 3 Wizemen when you see them line up and to keep sticking to them when the Wizemen are going through rough times and losing you money. I would also suggest that you calculate what you need to break even before buying this or any software. It will all depend on your personal financial situation. For example, if you buy this software for $3000, pay data feeds of $400 a year, plus about $1200 in commission a year, then your total cost will be $4600. If you are going to open your trading account with anything less than $10,000 then it will be pretty hard to make it worthwhile. Just my 2 cents.
Noahoren: If you are new to trading, read "New Traders Thread" before doing anything. Look in "journals" or search for posts by steve46. The choices you are talking about are in my opinion unlikely to be productive. I hope you will take it slowly and learn more about the subject before putting money at risk. Good Luck, Steve46
Ok, I don't understand this. I ask a simple question, and you insult me for no reason whatsoever. First of all, I am not intending on buying it. Even if I was it wouldn't be any of your concern. As I said before, if you don't know the answer or don't like the question, then don't post anything. There seem to be too many lowlives here on ET now who sit alone in their rooms all day just waiting to flame or be trolls, and doing so, get to so called "Elite member" level.