Just checking back on the thread. One of my traders (prior to his joining us here in Vegas) did a "reverse engineering" of the indicators involved in the wizetrade software. I am not sure that it is truly specific, but he seems to think that this combined indicator will generate very similar signals. We all know that there would be pure "black box" programming if all this really worked in the real world. A few generated "buy or sell" signals may work in the short term, but if there were true and provable validity to all this...then the markets as we know them, would cease to exist. But, in the meantime, all the best to those who are at least trying.... IMHO above... Don
"would've", "could've" hindsights won't help you determine profitable exits for your live trades. Unless that's where you covered, it's not profit. The question is: Are you getting a signal to exit the trade at that price?, 'cause unless and until you're out of the trade, quoting price extremes doesn't amount to having winning trades.
By the way, there is one more thought I would like to offer on this subject. I noticed for my own trading, that I learned to enter first (that wasn't so hard) and only after much additional "experience", did I learn to manage my positions, through the slow, tedious, agonizing, and exciting times to the point where I could exit with a profit. This gathering of experience and maturity took a while, and I have not read anything anywhere that taught me how to move through time with a position. It turns out that to really maximize a trade, you have to develop a frame of reference that gives you confidence in your judgements, and the ability to resist getting shaken out at the wrong time. I wonder about traders who use a product like Wizetrade, or perhaps an advisory service, or just piggyback the calls they see here on ET. Its got to be hard to put on the trades anticipating that you are going to make a lot of money, only to get shaken out or lose because you don't have a basis for deciding how to act as the trade matures. Well, thats about it for me. Good luck everyone. Steve46
WizeTrade is the most accurate trading program on earth because . . . it cheats. The current "bar" will slightly modify earlier "bars" so that you will always see amazingly accurate calls. I discovered this one day when a bad tick came in that whacked the current "bar" to the floor. How surprised I was that earlier "bars" were also adjusted down in an exponentially decreasing amount. How even more surprised I was about the defensive behavior fellow users had when I pointed this out. But that's just means I'm naive.
OK, (wearing different "hat" now)...If, in fact, what you say is true, then it would be very easy to prove...since "bars" indicate price/time and entry points...by merely adjusting via "past posting" these entry points, they would equate to different pricing, thus pop out like proverbial thumbs. I may not be a fan of wizetrade, but I would hesitate to accuse them of pure cheating....unless you're willing to back it up...and if you are, let me know. Don
Don, It is easy to prove. And you should do the tests yourself since you seem to disbelieve me. My position is that past "bars" are being changed by data for the current "bar". I found out because of a bad tick. The lines looked "funny" so I opened the window that shows the data values (numbers) for the "bars". The current "bar" had a number near zero for the red line, which I expected. But the preceding bar had low red line values also!? About 1/10 as bad as the current "bar". And the "bar" before it was about 1/10 as bad as that. Keep in mind that the green and red line values are usually close to the high and low for that time period.
I'll pass this note along to someone who paid full price for the system, perhaps they can "negotiate" a full refund. Don
I paid full price but I do not harbor any fantasy that I will ever see my money again. When I was at the sales presentation I had a feeling that this was a con, but being gulliable, I bought anyway. Now I keep the WizeTrade box on a shelf in my trading room to remind me to pay better attention to my gut feelings. A lesson, by the way, worth more than the price of the product.
You can mimic this effect in Trade Station by specifying [-1] bar that is the bar in the "future". Any indicator that is written using this "trick" will exhibit retroactive adjustments.
I bought vantagepoint -another ripoff in the same league as wizetrade. Might get it out of the box and put it in place of honor on my shelf thanks to your post. A great attitude you have!