It is a great tool - that is why all the owners use it and are rich and anytime someone buys it, they can sell it for twice what they paid. At the same time, they offer a 200% money back guarantee on the product, becasue they have seen it work for them. Wow - sorry, just woke up. Weird, thought I was dreaming about a successful trading program you could buy.
Yeah, not to mention that you have to pay 30.00/month to continue to be connected plus 99/month for some kind of other connection for a search engine for good stocks (optional of course -- but what's the point if you only go half way?) And they do offer money back guarantee, but I'd love to try getting my money back. Oh well, happy Friday.
I've been reading all the replies and I was wondering if anyone had a software suggestion? I too was interested in wizetrade. you all deserve a great big pat on the back for "talking us down"... but is there another option out there? You all sound like you've been trading a long time. I want to get started but am unsure how to begin...that's why wizetrade sounded good. Thanks for your input! Nanette
There is not a software package that one can buy that is programmed to successfully pull money out of the markets from it's signals. It's the question that has been asked a thousand times on ET and it always ends up being answered with this question...If the software made money, why would they would sell it, instead of USE IT? It would be a hell of a lot easier to use it from the gorgeous house in the Tetons or where ever than to deal with the inquiries, sales, customer support, returns, etc from the likes of you and me. JB
Has anyone seen the latest WizeTrade Infomercial? Its hilarious. There is this group of about 6 traders who trade as a "Team" (Most of them are wearing Hawaiian shirts). One guy says "I drove a cab for 8 years, so I already knew about green and red lights". It shows them closing a winning trade and they all start jumping up and down in their seats cheering. ridiculous.
Don't hate on wizetrade. I like wizetrade. I use it a lot. The money I make goes really well with my six pack abs that I got from the crunch master 3000. I also like the Ninja knife cutter 400 series that can cut thru pure lead and even diamonds! But true power is when you combine the forces of the three monster machines, resulting in a device that can...Do JACK SHIT... http://www.public.asu.edu/~sshetty/Lazy bastards.htm
These guys must be making a fortune (selling the s/w that is). I saw two lengthy infomercials this weekend on network affiliate stations in one of the major markets in the US. Must have cost them an absolute bomb. For the newbies that like the looks of Wizetrade and wonder why we are all so negative on it. First, the claims are ludicrous. No mention of the inevitable drawdowns with this or any system. No verifiable peformance records, that I'm aware of, to back up the get rich quick claims. Yes, with any system one will make winning trades, but what counts if the overall P/L at the end of the month and year. Second, Wizetrade is apparently a rather simple MA crossover type system. You can go to WealthLab or other sites and duplicate such systems or check out their performance. You will find they don't do very well in the stock market, that they take very large accounts to trade in the commodities and that they incur big drawdowns, like 50-60%. That is with professionally designed and operated systems. Who knows what is going on inside thsi S/w? The whole idea of trend following systems is to run them across a diversified portfolio of non-correlated markets, eg grains, meats, metals, financials, currencies, and hope you catch a big trend move on a couple of them before you blow up. That's why you need a big account. Otherwise you will blow up. Guaranteed. If the infomercial claims were actually true, don't you think hedge funds and other smart money types would just buy a copy of Wizetrade and let the good times roll? Do you think it is just jealousy that keeps them from doing that?