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Customer Review for Wize Trade:


562 of 622 people found the following review helpful:
Review:
February 5, 2005
Reviewer:
Truth from Above, USA.
Review Title::
WizeTrade Does Not Predict Rise And Fall Of Stock.
Rating:
1 Star (or Unacceptable).
Review:
Is WizeTrade the best stock trading solution for you?



Wizetrade has fun looking infomercials, don't they? With all the flashing green and red lights blinking everywhere, it almost looks like it was designed to look like a child's toy. If you take a close look at what they are trying to market, they have the lazy man's dream to getting rich in the stock market. This amazing software that will give you a mindless and thoughtless green light-red light indicators as a way to buy and sell stocks.



By just following their simple system to know exactly when to buy and sell stocks, do you really think the best traders use such simplistic hype? Red light? Green light? The idea that your computer will beep buy and sell signals, without providing any information about why it's giving you these buy or sell indicators.



Why don't they educate you about what set of programming rules it is using. It is called black box trading. Black box trading has a long history of imploding. Here is some of the black box language WizeTrade uses:



The proprietary algorithmic graphs in the WIZETRADE Chart screens analyze the selected stock market activity and indicates its upward and downward trends. The trends are represented by Proprietary Algorithm Lines.



If you don't know exactly why something works and don't have all rules explained, you are taking a huge risk with your capital.



However, complaints about black boxes and infomercials are minor compared to the biggest problem WizeTrade has: There is no money management with George Thompson's Wizetrade.



I recommend exploring the many downsides of relying on a strategy that does not include portfolio or money management. Ask yourself how valid the strategy is if it does not address the following money and portfolio management issues:



* How much capital do you place on each trade? Is this precise?

* When must you take a loss to avoid larger losses?

* If you begin a losing streak do you trade the same? What formula do you use?

* How must you prepare if trading both long and short positions?

* How is correlation handled in practical trading sense?

* Must you have profit targets? Yes or No?

* Does a portfolio of long and short allow one to trade more positions?

* How is your trading adjusted with accumulated new profits?

* How are stops handled when volatility is a concern?

* How does one prepare for unforeseen large scale trends?

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Disclaimer: These reviews are for educational purposes only. The reviews given here are personal opinions, and other people might have different views on the products reviewed on this website. You should make any buying decisions based on your own judgment. No guarantees of income potential are given or implied; such income potential is dependent on your own skills and resources. We may receive commission or revenue from any service or product that is purchased through this site.


 
 

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