WizeTrade Software Questions...

Discussion in 'Trading Software' started by canyonman00, Jul 26, 2002.

  1. Having spoken with Baron (thanks for the help) today, I have decided to post this general question thread regarding the WizeTrade/Wizefinder software. First, a little background.

    I am a computer tech/trainer located in Chicago with no direct affiliation with the WizeTrade company. I and many of my clients do use the software. Based on this, I do have several positive and negative experiences with the product that I would be willing to dialog about with other users/owners of the products.

    I'll be one of the first to admit that the company advertising is not that comforting to me. For me, the markets are more detailed than just a "Red & Green" light setup. But I have found that so too is the software. I have learned a few tricks in reading those lights and charts for a few years now that have made a difference in the way that I trade.

    If you too have learned a few things while you've used the software I would appreciate your sharing them with me. Or, maybe I can share a tip or two with you. Now that we've spent the money and have made the commitment, let's figure out how best to use the software.

    Feel free to ask whatever question that you have and I'll try to find an answer for you (generally based on my actual "using the software" experience). I don't think it can be too small for me to have an interest. I won't have to give you a third hand response either as I have probably made all the wrong moves before too!

    If I can help you use your WizeTrade software better, I'll be happy camper. And don't worry, I am not interested in judging why you purchased it or rating your competency. Remember, we're all out here trying to become better users of ALL the tools at our disposal. :)
  2. qazmax


    Any idea how their "proprietary secret algorithm" works?

    I heard a sales rep say that there was 7 factors. It sounded like it was computing volatility... Hi, lo, last, open, last tick (up or down), volume.

    Then they showed a graph of Enron and claimed their software predicted the downward outcome. Seems ilogical that this simple technical analysis could factor in for fundamental accounting fraud and illegal trading? So I am suspect. I was very suspect of the cheesy video shots of the owner driving a corvette and riding his dirt bike. Reminded me of that Voo guy selling realestate advice from his yatch.

    I would never bet the farm on the value of technical analysis. But, if it can be a useful tool in making a final decision then maybe it is good to have.

    Also, I heard they were doing the same thing. Selling technical software in Texas, under a firm run by the same guy, under a different name. Any idea if this is true. Do they sell until the name is tarnished and then rename themselves?

  3. I have a "secret algorithm" that predicted Enron. I call it "trend."
  4. I do not know how the software could have predicted the Enron corruption. That being the case, then the justice department needs to just hire the presenter to assist them in their upcoming investigations.

    This point is one of the first things that I attempt to explain to my clients. This software is no better at discovering corruption, poor management, bad balance sheets, etc., than anyone else. There are many internal company factors that you would have no clue about. It is statements like that which allow many people to be skeptical of the whole concept.

    As for the algorithm, I do have my suppositions as to how it works. I will say that the points that you address are in the mixture. But I would also say that there probably are a few pieces more that would not have been discussed. If that were all there was, then you would be able to duplicate the platform exactly and I don't see them letting you do that.

    Cheesy advertising? That's what sells in America. It's why the burger commercials never match the product when you get one. It is a tool of the advertising community. Believe me, somewhere out there is an advertising guru with supporting focus group data that would show this was a good marketing campaign.

    Technical analysis has its place. There are many who swear by it. Then there are others who swear at it.

    As far as a repeat performance, I couldn't tell you. Tarnished from the past or not, if it is a repeat performance, let's hope they get it right this time. I can say that I have not had any troubles with the company. :)
  5. With a little indepth review of the company, its mission statement and a few other details that I get concerned with, I was not an investor with Enron. For me I would not have needed a "secret algorithm" to run from any long term positions.

    WizeTrade is not a prediction setup. It would not have predicted anything as far as Enron was concerned. But it MIGHT have shown you the opportune times to buy and sell the stock for a day trade. In watching the lights and charts, you might have been able to spot a couple of buying opportunities.

    With the proper minute settings and a fresh cross or two, I am sure that there might have been a few positive returns to be had. :)