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Web based day trading software
Old 04-14-2007, 02:33 PM   #1
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Web based day trading software

What's the story with all these internet sites that tell you when to buy and sell based on various parameters? I went to a day long motivational seminar a few weeks ago, and one of the speakers was touting this scheme. If you get 3 green up arrows them buy stock sell if you get 3 red down arrows. I am always leary of get rich quick schemes, and this smells of one to me. Has anyone had any experience with anything like this? You sign up for one of their seminars in your area, get a sales pitch and then pay for a course to be able to run their charting program.

Thanks Jeff
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Re: Web based day trading software
Old 04-14-2007, 08:06 PM   #2
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Re: Web based day trading software

If it actually worked do you think they would sell it? or make lots of $ using it?

I know what I'd do if I had some algorithm that actually made money, I wouldn't be sharing it with anybody. And when I'd made enough money, I'd give it away to friends/family so they could make their fortune. But actually sell it? if it works why would I do that?

Just a thought.

Laters,
-d.
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Re: Web based day trading software
Old 04-14-2007, 09:14 PM   #3
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Re: Web based day trading software

Quote:
Originally Posted by xprinter
What's the story with all these internet sites that tell you when to buy and sell based on various parameters? I went to a day long motivational seminar a few weeks ago, and one of the speakers was touting this scheme. If you get 3 green up arrows them buy stock sell if you get 3 red down arrows. I am always leary of get rich quick schemes, and this smells of one to me. Has anyone had any experience with anything like this? You sign up for one of their seminars in your area, get a sales pitch and then pay for a course to be able to run their charting program.

Thanks Jeff

Run away VERY VERY FAST!!!
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Re: Web based day trading software
Old 04-15-2007, 10:56 AM   #4
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Re: Web based day trading software

Bad idea. The only people getting rich are involved with selling the system.
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Re: Web based day trading software
Old 04-15-2007, 10:48 PM   #5
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Re: Web based day trading software

Its just a stock screener with a different interface than we are accustomed to seeing.

The program simply has certain paramaters set by the software company, as well as you....and it scans the stocks for the ones that match.

You dont have to run run run, but dont expect to get rich either. You can probably use their platform as a tool and it will help...but no garuntees. How much do they want for the program?

I'd say just start reading up on it....and you will learn quick. Daytrading is simple, and can be lucrative. I fiddle around with a bit myself and do okay.
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Re: Web based day trading software
Old 04-16-2007, 09:33 AM   #6
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Re: Web based day trading software

Quote:
Originally Posted by thefed
Its just a stock screener with a different interface than we are accustomed to seeing.

The program simply has certain paramaters set by the software company, as well as you....and it scans the stocks for the ones that match.

You dont have to run run run, but dont expect to get rich either. You can probably use their platform as a tool and it will help...but no garuntees. How much do they want for the program?

I'd say just start reading up on it....and you will learn quick. Daytrading is simple, and can be lucrative. I fiddle around with a bit myself and do okay.
They were 250,000 "day-traders" at the end of 1999. Today, there are about 20-25000, depending on who you believe.........something tells me it's harder to make money these days............

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Re: Web based day trading software
Old 04-16-2007, 06:23 PM   #7
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Re: Web based day trading software

Thanks for all your replies. I figured that this was a scam and just wanted to get some verification from the experts. Thanks again

Jeff
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Re: Web based day trading software
Old 04-18-2007, 08:36 PM   #8
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Re: Web based day trading software

If your talking about investtools, I signed up before I read 4 pillars. I tried and tried to follow the green arrows but alas, I was unsuccessful. To each his own I guess.
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Re: Web based day trading software
Old 04-19-2007, 04:26 PM   #9
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Re: Web based day trading software

there are a bunch of trading books out there written by people who made a lot of money and some websites. i like to read the news from trading markets sometimes and their system is something about selling when a stock crosses the 10 day moving average. forgot the details.

another website called breakoutwatch has some algorithm that reads chart patterns. basically stocks never go up in a line and there are areas of consolidation. people have studied this and there are patterns in how a stock consolidates and future performance.

before doing anything, read about it and see if you can replicate it. most of these also say that you sell any losers very fast. usually no more than an 8% loss is tolerated so you can pick 6/10 losers and still make double digit gains.

if you want something free, google Darvas. this guy was a ballet dancer in the 1960's and became a millionaire trading stocks with no financial education and he had access to a lot less information than we do today. amazon has a book on his system or you can info for free with google

the one thing i would pay for is an Investor's Business Daily subscription. Only because i like their stock database. it rates companies to their peers so you can easily see the top 5 companies in the industry group and see how your company rates. saves you hours of research since any stock lower than a certain rating can be automatically discarded. most of the other services that draw pretty lines are usually a waste of money since technical info is free almost everywhere

and most of these only make money in a rising market. in a bear market only shorts make money. they also probably teach you some technical analysis you can get for free from a book from the library or stockcharts.com. it's not rocket science, but people including academia have been doing research into technical analysis for a long time. some books date back to the 1930's when some people decided to look for signs of why the market tanked.

i'm reading a book my Martin Zweig now. he went to Wharton and made up some system that predicted the 1987 crash. he says it's not perfect but backtesting it decades he says it would have made CAGR of around 25%
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