WizeTrade Software - Serious issues..

Originally posted by Htrader
Nothing we say can really stop a novice from trying out one of these slick marketed systems. After all, hope springs eternal. So my advice to you is that if you really want to do this, then just buy the system, lose your money, and be a wiser person because of it. The sooner you get this done, the sooner you can start being an actual trader.
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But I don't want to be an "actual trader".. I like what I am doing... This seems like fun though....

By the way, I've heard a lot of people mention their "personal systems" that they have for trading stocks... is there some reason why my personal system should not include Wisetrade?....

I am a systems integrator by profession, which entails constantly pulling together different tools to get meet a specific objective.... I believe that Wisetrade can help with this and honestly I have read nothing (and I mean NOTHING) here which is substantial enough to warrant excluding that tool from my arsenal....

I have excluded plenty of other software packages and chart types because they don't seem "logical" to me.... The idea of buying and selling pressure seems reasonable and is reflected in several techniques - including that which is presumably used by Wisetrade...

I hope none of the professionals take this offensively here, but not one of you has given me any reason to consider your opinion over that of anyone elses.... Except perhaps your smug attitudes which comes with the territory I guess..

I would really like to hear from someone who has developed their own "personal" system and is willing to state how much their system has profited them over the past 4 months.... And, of course, what type of trades you do (day/swing/long term/etc)...

I would also like to see that information from people who use Wisetrade (who is not affiliated with the company, marketing, etc in any way).....

If you really want to prevent people from making a mistake in purchasing something, please give a cogent reason why.....

To base it on a companies marketing system is rediculous -- after all you are probably using a PC running Microsoft Windows.. Many of you have probably bought into that hype and overmarketing -- probably spent a lot more then $3k on it too... And you probably are only using a fraction of it's potential.... (Although, to be honest that is not entirely your fault, Microsoft has been supplying a faulty tool for quite some time now)....

- Greg
 
Originally posted by canyonman00


Glad to see that you have taken the time to research the company's products. And I am also happy to see that you will take the results of YOUR OWN testing as your experience. That is more than many here have done.
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I would not do it any other way.


As for the "No Resale" issue. It goes to the ability to stop the sale of bootleg copies of the software. Since they have allowed the owner to place as many copies on your various computers as you'd like, it gives them some control over the access that you have. In other words, many copies of he software, but only one connection at a time.
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That's utter bullshit and I won't buy software with those terms.... I routinely integrate products costing hundreds of thousands of dollars with more reasonable licensing terms then that.... Hopefully they will want me as a Wisetrade customer and will be willing to make some concession or I will look elsewhere....

I already have enough of an issue with the fact that Wisetrade does not include Wisefinder as part of the purchase price and very well may not purchase it for that reason alone.... It does not seem reasonable, as well, to me that I would pay for a piece of software and then pay a monthly fee to use what seems to be an "extra feature of it".... Now, granted, Wisefinder is not necessary.. But, I want it and I will not EVER purchase a piece of subscription based software.... A data feed (which I consider a service) is one thing, a software application is something else entirely (which Wisefinder seems to be).... Frankly, I think this may be a deal breaker for me actually......

As of right now, with the objective I have set for myself, Wisefinder is a "bust" in terms of if I should buy it or not (both equate to 78 points currently)... This isn't a bad thing, I am very critical in how I evaluate software/hardware/etc fit to the objective I am trying to reach and it's often just a feather's weight that pushes it one way or the other.... The Wisefeed thing knocked off about 12 points on my scale....

The "unable to resell" the product will knock off about 50 points on my scale...

I'll keep ya' updated as the negotiations continue....

- Greg
 
Originally posted by dEvNuL
I would not do it any other way.

That's utter bullshit and I won't buy software with those terms.... I routinely integrate products costing hundreds of thousands of dollars with more reasonable licensing terms then that.... Hopefully they will want me as a Wisetrade customer and will be willing to make some concession or I will look elsewhere....

I already have enough of an issue with the fact that Wisetrade does not include Wisefinder as part of the purchase price and very well may not purchase it for that reason alone.... It does not seem reasonable, as well, to me that I would pay for a piece of software and then pay a monthly fee to use what seems to be an "extra feature of it".... Now, granted, Wisefinder is not necessary.. But, I want it and I will not EVER purchase a piece of subscription based software.... A data feed (which I consider a service) is one thing, a software application is something else entirely (which Wisefinder seems to be).... Frankly, I think this may be a deal breaker for me actually......

As of right now, with the objective I have set for myself, Wisefinder is a "bust" in terms of if I should buy it or not (both equate to 78 points currently)... This isn't a bad thing, I am very critical in how I evaluate software/hardware/etc fit to the objective I am trying to reach and it's often just a feather's weight that pushes it one way or the other.... The Wisefeed thing knocked off about 12 points on my scale....

The "unable to resell" the product will knock off about 50 points on my scale...

I'll keep ya' updated as the negotiations continue....

- Greg
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While it may be crap, I don't know about them breaking down on it. If they do, let me know as I know several others who have expressed the interest without that caveat.

As for WizeFinder, I would not recommend it personally. While it does help some, I have found that it isn't really worth the extra bucks if you know how to locate some viable stocks to watch.

Don't use Wizefinder as any determination in the purchase as I think it can work very well without it. I have recommended that my clients NOT purchase the Wizefinder option, initially. If they see the ability to add it later fine. But most never need it.

Good luck in your efforts and yes, please let me know what happens. :)
 
Hi,

I too bought this software about 6 month ago. They gave me 30 days to try it out and you are right. There isn't enough time. I took the risk and kept it and found out that it is useless. I got sucker in for $3000 and I can't sell this damn thing.

little pissed

Peter
 
Originally posted by nnn234
Hi,

I too bought this software about 6 month ago. They gave me 30 days to try it out and you are right. There isn't enough time. I took the risk and kept it and found out that it is useless. I got sucker in for $3000 and I can't sell this damn thing.

little pissed

Peter
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Peter,

There are other people who have made good use of the software.... I do not want to be critical, but you may want to take a different approach to it from what you currently are doing....

Could you describe, is as much painful detail as possible, what you are doing -- how you are picking the stocks, etc?... Maybe someone here could offer some advice....

It would be very interesting if you could turn your situation around - seeing as how you are stuck with it right now anyways....

Please give a lot of detail as to what happened and how you got where you are.... (If it's not asking too much).... Maybe this can have a happy ending after all...?...

Thanks for all your insight!...

- Greg

P.S. What would you be willing to sell your software for - if I can find a legal way to purchase it from you?...
 
Originally posted by nnn234
Hi,

I too bought this software about 6 month ago. They gave me 30 days to try it out and you are right. There isn't enough time. I took the risk and kept it and found out that it is useless. I got sucker in for $3000 and I can't sell this damn thing.

little pissed

Peter
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Sorry to hear that. I think that the software needs a better set of training materials and manuals. I think that it is very short on the documentation side of things. I have said that about the WizeTrade software from day one.

I would be interested in knowing the name of the salesman that you went through for the product as most of them there seem very helpful. That is not to say that there are not some rude, short sighted individuals there. But there are also many there who can (and will) help owners of the software.

I am also sorry that you think that it is a useless product. But now that you have spent good money that you say is unrecoverable, shouldn't you try to either learn how to make it work or possibly see what you need to do differently to make it useful? Just asking. :)
 
I just went to the seminar and the product seems easy enough to use. However, $3k is a lot of money for software. If it works then the money is a good investment, but as a person making a purchase decision how can I validate that the software really works like they claim it does? Can anyone who has purchased the product please provide some actual insight into their experience with the software. I guess the single question to answer would be: would you, as an experienced user, purchase the product if you did not own it?
Also, has anyone been offered a lower price on the product if you didn't buy it at the sales demo?
 
Originally posted by knocti
I just went to the seminar and the product seems easy enough to use. However, $3k is a lot of money for software. If it works then the money is a good investment, but as a person making a purchase decision how can I validate that the software really works like they claim it does? Can anyone who has purchased the product please provide some actual insight into their experience with the software. I guess the single question to answer would be: would you, as an experienced user, purchase the product if you did not own it?
Also, has anyone been offered a lower price on the product if you didn't buy it at the sales demo?
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Research might get you your answer. $500 is a lot of money for software if you can't get it to work. I think that you could/should call the company and ask for a few user references. Maybe that would help you. I know that some of the salesmen keep lists of users for reference purposes. But they might only give you names of individuals who are happy with the product you say. Maybe that will balance the myriad of folks here at Elite who can give you horror stories.

But be careful to properly temper your judgement of the respondents here with the key piece of knowledge that is also valuable. Along with their negative/positive statement, have them speak (DIRECTLY) to their own personal experiences with the software. Good luck in your endeavor! :)
 
Originally posted by knocti
I just went to the seminar and the product seems easy enough to use. However, $3k is a lot of money for software. If it works then the money is a good investment, but as a person making a purchase decision how can I validate that the software really works like they claim it does? Can anyone who has purchased the product please provide some actual insight into their experience with the software. I guess the single question to answer would be: would you, as an experienced user, purchase the product if you did not own it?
Also, has anyone been offered a lower price on the product if you didn't buy it at the sales demo?
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Knokti,

I am currently in negotiations with Wizetrade and about their licensing terms.... I am a professional systems integrator and would suggest that you not make a purchase of this software until I finish this with them.... (I will post the results of it here).....

It should not be acceptable at all that you purchase a software product and are unable to resell it later to recoup your loss -- if it does not work....

The only way I would agree to terms like that (and even then, I probably would not) is if I had 6-8 months to evaluate the software free of charge.....

I have also sent this on to our legal department to have them check the legality of the license agreement, I will let you know what i hear back from them.....

- Greg
 
As promised, I wanted to update everyone here....

Unfortunately I have not really been able to get to a solid analysis of the software itself - I have the sense that the company simply does not want this to happen... In fact, it seems a bit sneaky to me...

They would not comment on the question if this software is at all related to the "Window on Wall Street" product (or whatever it was) and about... However, to shed some light on this because of some earlier comments:

#1. The prior companies (2xpi/akahi.com) were sued by the federal trade commission for multi-level/pyramid scheme issues surround computer products and other things.. However, I did not find any evidence of any product similar to WOW or Wizetrade.... I also, could not find any evidence that anyone involved in that problem was associated at all with R.O.I. analytics or Wisetrade.....

#2. I did find that George Thompson posted a testemonial about WOW, something about making hundreds of thousands of dollars or something to that effect... I have no evidence that he was materially involved in the management of R.O.I. analytics... The reasonable conclusion would seem to be that he saw the product R.O.I. had and decided that it had value and after R.O.I. closed up shop he decided to pursuit the development of a similar system......

I hope this clarifies some of the earlier comments which were being made... If anyone has information which supports or contradicts this - please provide it along with your source so I can investigate further....

Regarding the "reselling issue"... Wizetrade is unwilling to modify that term of the agreement... Our legal department informs me that though this is a "heavy handed way" to sell software that it *IS LEGAL*... Let me say this again, because if you are considering the purchase of this software you !!NEED TO KNOW THIS AND BE AWARE OF IT!! The specific clause at question is:

"Purchaser does not have the authority to resell or otherwise transfer the License to any third party without the express written consent of Wizetrade™, and any such action becomes grounds for Wizetrade™ to immediately revoke Purchaser’s License. Purchaser agrees that any use of the License not specifically permitted herein, is a potential breach of the License, and such unauthorized use could cause financial damages to the business interests of Wizetrade™. Any breach in the terms and provisions of the License may be considered by Wizetrade™ to be actionable offense. In such event, Wizetrade™ may seek legal and financial remedies in a venue under the legal jurisdiction of the State of Texas at Wizetrade’s™ sole discretion."

This means once you buy it -- you can't sell it or otherwise get rid of it and that you are ACKNOWLEDGING that IF YOU DO SO you are causing damages to Wizetrade for which they can sue you for....

As a professional in the technical industry I am deeply offended by these terms... I would not, ever, recommend that one of my customers purchase this software - something for which they specifically pay me very well to help them determine.... If the terms were not legal or enforcable - I would say "Go for it", but the way the terms are worded they ARE LEGAL AND BINDING and there ARE NO LOOPHOLES.....

Let me say it a 3rd time: !!DO NOT PURCHASE THIS SOFTWARE OR ANY OTHER SOFTWARE THAT IS THIS RISKY WITH THESE SORT OF TERMS!! You WILL regret it someday... Even you, canyonman, will regret your purchase decision someday, unfortunately... These are usually the sort of messes I have to come in and clean up for companies.....

My analysis has led me to believe that either TradeStation, TradingSolutions, or the one that has won out on all counts is DeepInsight... All of these products seem much more professional..

- Greg
 
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