WizeTrade Software - Serious issues..

Originally posted by CalTrader



I have developed software for about 20 years - lots of systems that perhaps some of you use everyday. ...This business of taking an exisiting system, morphing it a bit, renaming the company, going out of business, selling the software to a new company etc etc is all too common. More often than not the original system is full of problems and latter permutations of the software only add to the mess. At some point it all has to be re-written from scratch and you now become the guinea pig tester for the new system, on your own dime.

A good research point for a software concern is to ask how long they have been in business, what their ownership structure is, if they did the original development, and what are their plans going forward for enhancing / fixing problems with the product. Also, another good sign is that the company will FULLY refund your money if not satisfied: Even better is if they can provide source code and/or expedited processes for resolving critical bugs. If you dont get good answers to these questions but still decide to go ahead with using such a system then you'd better have a backup solution in case the purchsed system doesn't meet your needs .......
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You make some excellent point.... I just wanted to add that the questions you ask are ones that I asked but did not get an answer to... I have no idea how long Wizetrade has been in business and they aren't willing to tell me..

They also are not confirming (or denying) the lins to R.O.I. analytics/akahi/2xpi....

They certainly do not offer a refund, nor do they offer a significant enough length of time to determine if the software is right or not.... There are no demos, no refunds, no evaluation, and most striking to me -- no exceptions... They want your $3995/$2995 and that's it..

As a side note, I have made attempts everyday this week to call Wizetrade and i could never getr a human voice to speak with.... I dialed the sales rep extension and it drops immediately into his voice mail without ringing... .This reeks of a "call center" that was setup nby a marketing company to deal with the marketing of the product... Do your own analysis,m but to purchase software from a company that you can't talk to *anyone* (not even an operator) in an entire week is yet one more reason not to take this company (and it's products) seriously...

Again, I am sure there are some people who are successful with it... But, I guess it seems difficult to quantify if that is actually the software which is helping them or if their initial picks of stock are what is helping them.... Wizetrade, clearly, does not want you to be able to determine this before taking your money and giving you no opportunity to refund it.....

- Greg

P.S. As for their guarantee -- it's bogus because in my case I would have had exactly 1 week for that guarantee to have lasted.. That's hardly enough time.... Software like this you need to evaluate , in my opinion, at least 60 days.... The fact some people get 1 week and others get until the next "full day training session" is slimy business practices....
 
Let me add one more comment.... They go ona bout making a $1000 a day using Wizetrade.... Yet, doing the math one would have to invested over $85,000 in the stock market doing day trading to achieve this...... They say, that some of their customers do very well with $5,000 -- and that's great..

All of that seems fine and dandy, however, I believe Wizetrade has practically redefined the word "slimeball" to be themselves because of a lack of disclosure on a very important issue.... That issue is: if your account gets classified as a "day trading" account you need to maintain a balance of $25,000 in your account.... A "day trading" account is one that more then 4 times in a 5 day period purchases and sells a particular stock in a single day....

I find no mention of this on the Wizetrade website -- they did not disclose it in the seminar I attend.. Yet, every other vendors products I have researched states this fact clearly.....

I am now becoming even more negative on Wizetrade... They, and the company (Dynetek) who is marketing the product appear to be a bunch of slimeballs... Purchase $4000 software from slimeballs if you want to, but make sure you tell yourself "I am buying software from slimeballs, but that's okay"....

- Greg
 
Very cool! I especially like the volume block alerts. The index feature is also helpful to see what is moving. I like the fact that I can use it with my other platform; Protrader's Gr8trade. Probably better then their Eyes Alerts.

How much will this thing cost eventually?
 
Originally posted by dEvNuL
As I said, I think it's irresponsible for you to suggest that anyone purchase software with these terms though.... Because the software works for some people and not others... For the people who it doesn't work for - they are going to get screwed over by Wisetrade.... How can you, with a clear conscience, suggest that someone make this sort of purchase knowing FULL WELL there is a significant probability that the software will not meet their needs?.... I find that baffling.

- Greg
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If I have misinterpreted your intentions in your explanations, let me apologize. There are many folks for whom WordPerfect does not work, yet I would not dispute its ability to do its tasks.

I can not fault the product based upon user failure and I would have no problem recommending the software. Just as there are many folks for whom WizeTrade does not work, there are many for whom it does. I can give you both types of individual responses for most software. There are those of us who have overriding software preferences also.

Now, as to how I can recommend the WizeTrade software. It is very easy for me based on full disclosure to the client of WizeTrade's restrictions and personal my comfort with understanding of what the client desires to do.

The first thing that I would do is to make sure that the client truly did understand that their evaluation period after the purchase must be completed within the thirty day evaluation window.

Second, prior to any purchase I would recommend that they talk with someone who currently owns and is having success with the software. After that, I would ask that they again talk with the company and find out what assistance is available for extra training. I would have them to verify that this training is available prior to the software purchase.

Next, I heartily would recommend that they attend this training and get a feel for the software and its potential. At that point, I would feel they are armed with sufficient information to make a reasonable decision of whether or not to purchase the WizeTrade products.

By following this procedure all parties will be able to protect and exercise their interests and everyone could be satisfied with their abilities and potentials before a major capital outlay has been made. Does it require more time? Yes! But it will make for a better long term relationship all the way around. Something that I and my clients all have with the company.

Now this procedure would be my recommendation based on the company, the software's difficulty record and my personal experience. At that point, I could very easily feel comfortable with recommending the software if a client felt eased enough to purchase it. I would make sure that they they understood that I too would be available for additional training assistance above and beyond what they could get from the company.

With this procedure I have had much success as have those who I am working with. We are not perfect in the use of WizeTrade and its companion product Wizefinder, but we have found many viable uses for WizeTrade amongst our tools for trading. I think this is the most reasonable method for an analyst. You know, walk the walk first. Then discuss the problem and solutions from a position of personal experience.

By the way, I do charge enough bucks for my time and services such that this purchase, review and evaluation for me was still a profitable venture. :)
 
Originally posted by dEvNuL
P.S. As for their guarantee -- it's bogus because in my case I would have had exactly 1 week for that guarantee to have lasted.. That's hardly enough time.... Software like this you need to evaluate , in my opinion, at least 60 days.... The fact some people get 1 week and others get until the next "full day training session" is slimy business practices....
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Hmm, I can't speak to that type of guarantee. I received 30 days when I purchased the product just over nine months ago. My initial client (who purchased the software a little more than a year ago) I think got 30 days but I can't be sure and they do not remember.

But I do agree, one day or week is definitely not enough time. Based upon that type of timeframe I would lodge a vote of major concern for any purchase. :)
 
Originally posted by dEvNuL
That issue is: if your account gets classified as a "day trading" account you need to maintain a balance of $25,000 in your account.... A "day trading" account is one that more then 4 times in a 5 day period purchases and sells a particular stock in a single day....

I find no mention of this on the Wizetrade website -- they did not disclose it in the seminar I attend.. Yet, every other vendors products I have researched states this fact clearly.....
- Greg
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This is a fact that I do think they should have explained and stated to prospective purchasers. But being in the trading game for some time I knew this fact. So I was not alarmed or caught unaware of this criterion. :)
 
Originally posted by TradeTheFunk
Very cool! I especially like the volume block alerts. The index feature is also helpful to see what is moving. I like the fact that I can use it with my other platform; Protrader's Gr8trade. Probably better then their Eyes Alerts.

How much will this thing cost eventually?
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According to the company they have not set a price as of yet and it will remain free for a while longer. They are working with the exchanges for some additional things also.

I was able to use the product in concert with my Wizetrade custom setup very well. There were several moves that were alerted that did not come across, but there were many that did.

There was one that stated in the alert that There was a $3 move expected in 24 minutes. I set the symbol in the WizeTrade screen and it never showed a purchase alert. Then there was an alert for a $1 move on another stock in 15 minutes.

Again I placed it in the WizeTrade setup. This one started the move 20 minutes later and it actually went up $1.05 over the span of thirty minutes. WizeTrade gave me a sell signal and I watched the stock drop back about $0.70 in ten minutes. I will look into the combination use with my WizeTrade for the next week or so to see how the two products can complement each other. :)
 
Originally posted by SocalTrader
Thank you canyon,

It is still possible to create a tool that is actually useful. I use this every day as I trade. Only looking to steer fellow traders in the right direction. The service is free right now so it is really worth it to check it out.
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It's Sunday morning and I am now into research mode. Please disclose. CalTrader and SoCalTrader, is this one and the same? I really don't like games if it is. Providing both sides of this conversation about software is kind of swarthy. Please be honest, open and thorough. :)
 
Quote from dEvNuL:


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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Does anyone have any input on which of the above 3 are the best and are giving the best performance? I am a newbie (as were all of you at one time). Looking to learn from your experience. Thanks, Ken
 
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