Thanks for replies re: Wiztrade Software

H

hpydad

Thank to all that replied to my post regarding Wizetrade Software.

As I stated in my prvious post I am an absolute novice to trading. I've been wanting to take the "plunge" but have lacked the confidence to begin. As an "outsder" it looked to confusing.

When I learned of Wizetrade I thought this would be ideal because I wouldn't have to get too technical and my learning curve would be relatively short - just let the software do it!

I attended an info meeting regarding the software and liked what I saw. There were no high pressure tactics to buy (what you usually see at these types of gatherings).They had what I thought was a good offer - $2995 for the software (reduced from $3995) - continuous free upgrades - 1 full day of training and can bring a guest - can attend all future 1 day training sessions as many times as I'd like fo no charge - contiuous training at their web site - a "user's only" chat room on Yahoo - reduced rate live stream data feed through E-Signal for $59 a month - 30 day money back guarantee - blah, blah, blah. It seemed like a good deal to me - however, I NEVER spend my money on anything I don't know much about.

Anyway, I have read other positive things about the software but it appears as though the best route to take is to learn to read the charts and decipher the info they provide.

Are there any worthwhile workshops for a beginner that anyone can recommend? Is TC2000 the best charting software for a beginner to learn on?


Thanks To All :cool:
 
Hi Hpydad,
I am currently trying out the WT software myself, and have been seeking feedback also. I was wondering what you ended up doing?
Thanks,
LStanford
 
hpydad

you dont say what the software does - did anyone tell you - you can forget all the other stuff if you dont know what i does
 
It slices!
It dices!
It's a floor wax AND a desert topping
But wait, there's more, you also get.........
Pffftt
 
rigel

dont forget - its you get a 1,000 discount or is it 2,995 added on

definetly sounds like its for learners! but i get the guys behind it are professionals!
 
And does take quite a committment to learn how to apply it to trading. But to summerize its funtionality....

when these five boxes are green..... BBBUUUUYYYYYY
When they are red....... SSSEEELLLLL
 
hpydad -

Run, don't walk, as fast as you can away from that thing.

Those who've been on ET for a long time might remember this. We've been through this before on some other threads. These appear to be the same guys (and basically same junk) that was being hyped on the boards a year or two ago. Even same offices in Addison, Texas.

Back then they were peddling it as a multi-level marketing deal (you get a piece of the revenue from everyone else you sucker into buying the thing). The emphasis was on how much you'd make doing the MLM thing rather than using the software - so what's that tell you. It was called WOW back then (not to be confused with Windows on Wall Street - can't remember what the acronym was - might be in the ET archives if Baron keeps them online from that far back).

A number of people here checked it out at the time and it was useless and the whole MLM thing was just another scam.

Looks like maybe they've "wized" up since - WT is now being hocked with late night infomercials between "Make money with tiny little ads" and "Carlton Sheets's Get Rich in Real Estate". Even looks like most of the "guests" on the infomercial are actually employees.

Got to give them credit though, it's a great pitch - perfect for suckering newcomers to trading - "You don't have to know anything about trading, just buy when the boxes are green and sell when they're red and watch the money pile up".

It's the trading holy grail and all for "only" $3,000 (marked down from $4,000 for only this brief offer). But do you get a set of Ginsu knives with it? :)

Frankly, still looks like a great way to make a million dollars - out of two million that is.

You'd be better off taking your $3,000 and out of it paying for one or two decent and helpful trading tools (but don't bother bouncing off to other end of the spectrum to something like TradeStation - for a new trader it will be overwhelming), a year of your RT datafeed, some good books/videos, and maybe attending a trading expo and sitting through some seminars. In the end, you'll be farther ahead on that $3K expenditure than giving it to the wizeguys.

Good luck.
 
As I opened my mail today there was a letter inviting me and a friend to a Wizetrade Seminar that is coming to my area. Seems that his tagline is misleading though as he calls this "Program Trading", the same as the "Big Boys". Since I view program trading as simultaneously buying and selling the same asset at different prices on separate markets, I don't think there are many individual traders that have an account big enough to do this type of trading. What I think he means is black box trading, but I suspect he uses Program Trading to dupe people into thinking this is what big investment banks do.

As an aside I went to another seminar on Cash Flow that came to town last night. Normally $5995 but tonight only $3995, that sounds familiar. But what was really interesting what what I found on the web about these con er I mean business men.

Regards,
 
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