WizeTrade

Originally posted by jem
If it made money real time with real money I would buy it tommorow. And then I would quickly roll it out to the 10 people in my office and who knows from there. Canyonman. Post your P&L for the next month along with your trade setups. You would make more sales than coors if your product actually worked.
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Hello There,

Two points here. Share my personal p&l and custom settings that I use with the WizeTrade software? That is something that I would never do. I do not share that custom setting info with too many folks, including my students. And I would never do it online with folks I have no knowledge of. Just a personal thing.

Secondly, I am not involved with the software other than as trainer and I am not trying to convince you (or anyone) to buy it. If someone owns it, I am available to help them understand it if they don't. If they have their own setups that they are massaging or trying to customize, I'm there for dialog. Technical or otherwise (I still don't share my settings though). Otherwise, I leave them to their own vices.

What I do get involved with here is folks who consistently state that the software does NOT work while they have no personal ACTUAL use knowledge of that fact. Doubt about it being able to work? Fair game and statement, I can accept that. All this unequivocal knowledge that it is impossible to be able to work? Not true.

I have said time and again, there IS more to it (in my experience) than just red and green lights. If you take the time to learn what those things are, and then follow the rules as they are established COMPLETELY, the possibility of success is increased. The task is to determine whether or not to buy the software, then follow the WHOLE usage map! :)
 
Maybe there are people who use Wizetrade profitably. That's not the point. The point is, and I've seen the infomercial, that the way they market the product seems unethical. They use unrealistic, outrageous examples to persuade the public. They are misleading people into thinking that any idiot can make money in the market. Sure, anything is possible, but this is ridiculous. How do these people live with themeselves? I suppose they're not any worse than those "start your own business" infomercials. If you want to sell a blackbox trading program fine, but don't market it at 2 AM to grandmothers and other people compeltely ignorant of the market.
 
Originally posted by Corso482
Maybe there are people who use Wizetrade profitably. That's not the point. The point is, and I've seen the infomercial, that the way they market the product seems unethical. They use unrealistic, outrageous examples to persuade the public. They are misleading people into thinking that any idiot can make money in the market. Sure, anything is possible, but this is ridiculous. How do these people live with themeselves? I suppose they're not any worse than those "start your own business" infomercials. If you want to sell a blackbox trading program fine, but don't market it at 2 AM to grandmothers and other people compeltely ignorant of the market.
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That there are some who use the software successfully is the point. That is the ONLY point that I was making. I too have a problem with the "simplicity" sales pitch as it is a bit harder (but not much). And I have said that many times also.

And it is as simple as follow the instructions and you SHOULD (key word) be successful. As is most software if you follow instructions. And yes, the simplicity is part of the way the software works. It does do the math (its own special stuff I'm sure). The fact that they don't go into the details for SOME others to feel comfortable with the logic bothers some folks. Granted!

But some folks don't mind blackbox software. For some of us, that's exactly what we wanted. I am one of those that you would characterize as ignorant of the market. And I for one do not need to understand the charting, grafting and internal logic of the software. I am not in the need of knowing which guru's theory it is based upon nor do I find it troubling that everyone thinks they have their own competing favorite software that's better. That's called free market.

I only want to know that I can make it, the WizeTrade software, work for me. And so far it has done exactly that. For me, and seemingly many others who DO OWN IT. Including a few 2a.m. grandmothers! :)
 
conyonman00, since you have success using Wizetrade what do you say about changing historical signals and dissapearing crosses(any time frame)? Few people on this board mentioned this problem before and also one person on one mailing list I was on had this problem recently(he returned the software because of it) He actually sent me snap shots of daily charts for one stock and they were quite different being only 1 day appart) The crosses were different.
 
The disappearing crosses is absolutely not a training problem, as canyonman00 asserts. It is a flaw in the system. I tried WT about 1.5 years ago, saw this problem, verified and documented it extensively, and then promptly returned the software when nobody at WT could explain it to me.

When a time period closes, the lines are crossed. Then the next period closes and that same cross may not be there. It's like revisionist history (just rewrite the story to suit your point of view). Historical views of WT charts look pretty good, but trading it real time is dangerous.
 
canyonman00,

If what you claim is true, why not post a personal trading statement? You can easily blackout all personal identification.

Every vendor in the world could increase their sales 100x if they simply posted profitable trading statements. The "privacy" argument has no merit b/c it is very easy to blackout all personal information.
 
The way I see trading, there are three ways to make money, scalping orderflow, arbitrage, and exploiting supply/demand imbalances. Since WizeTrade is not scalping software this leaves two options.

Arbitrage opportunities disappear rather quickly and the more players, the closer the return gets to zero.

Supply and Demand imbalances also no longer exist when too many players try to enter or exit at the same point. In part because some will "frontrun" signals, and because there is only so much supply/demand available.

So if someone has written a blackbox that works they would not sell it, much less mass market it. Unless, the technology that determined the aforementioned imbalances was no longer viable.


But since I get at least one of these types of offers a week from some "GURU", there must be a few people that believe otherwise. Or maybe I'm just a little jaded.
 
wow just as an FYI if you are looking for good decision support that WILL NOT cost you, take a look at my site. This way you could at least learn how you react to signals for free.
 
Thank you Socaltrader and no I wouldnt go sailing without checking the weather conditions. This is why I enjoy this forum because there are so many people here with great ideas and different opinions. Best of luck all.
 
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