Comments for Stock Trading Software Reviews http://www.stocktradingsoftwarereviews.org The worst and best in stock trading software Wed, 10 Mar 2010 19:26:07 +0000 hourly 1 Comment on Trading Solutions Review by Thomas http://www.stocktradingsoftwarereviews.org/trading-solutions-review/comment-page-1/#comment-1702 Thomas Wed, 10 Mar 2010 19:26:07 +0000 http://www.stocktradingsoftwarereviews.org/?p=150#comment-1702 I think Patrick and Robert must work for Neurosolutions. I have been in the business for a while. In fact for 30 years. I think TradingSolutions is a slow, unreliable piece of software. I have wasted hours training models only to have the software crash. Model performance lasts a very short period of time...weeks. The formula editor is the most cumbersome thing I have come across the last decade. In the formula editor if you enter a complicated long rule of 10 lines long - believe it or not - you actually have to enter the identical (in many cases) rule but in reverse for a short entry!!! It doesn't take a rocket scientist to work out what the design issue is here! It has a good looking user interface and that's about it. Regarding the sample performance on their website, I can create 1000+ moving average stock models in a spread-sheet the law of averages tells you that 10 of them should look like they performed well historically with a high % win rate. That is all the sample performance is on their web-site, you create 1000+ models and demonstrate the ones that performed well historically then put them on display as soon as their performance slips change the model but not the stock to give the impression of continuous performance. It's a classic example of using data snooping & back-tested performance to sell snake-oil. I suggest that you stay away from this software because there are better freeware neural net software on the market. I think Patrick and Robert must work for Neurosolutions.

I have been in the business for a while. In fact for 30 years. I think TradingSolutions is a slow, unreliable piece of software. I have wasted hours training models only to have the software crash.

Model performance lasts a very short period of time…weeks. The formula editor is the most cumbersome thing I have come across the last decade. In the formula editor if you enter a complicated long rule of 10 lines long – believe it or not – you actually have to enter the identical (in many cases) rule but in reverse for a short entry!!! It doesn’t take a rocket scientist to work out what the design issue is here!

It has a good looking user interface and that’s about it.

Regarding the sample performance on their website, I can create 1000+ moving average stock models in a spread-sheet the law of averages tells you that 10 of them should look like they performed well historically with a high % win rate. That is all the sample performance is on their web-site, you create 1000+ models and demonstrate the ones that performed well historically then put them on display as soon as their performance slips change the model but not the stock to give the impression of continuous performance. It’s a classic example of using data snooping & back-tested performance to sell snake-oil.

I suggest that you stay away from this software because there are better freeware neural net software on the market.

]]> Comment on Wave59 Technologies Trading Software by DaveVB http://www.stocktradingsoftwarereviews.org/wave59-technologies-trading-software/comment-page-1/#comment-1676 DaveVB Tue, 09 Mar 2010 19:39:33 +0000 http://www.stocktradingsoftwarereviews.org/wave59-technologies-trading-software/#comment-1676 No more free trial. No more free trial.

]]> Comment on Using eSignal Trading Software by Forex Robots http://www.stocktradingsoftwarereviews.org/using-esignal-trading-software/comment-page-1/#comment-1557 Forex Robots Fri, 05 Mar 2010 20:42:43 +0000 http://www.stocktradingsoftwarereviews.org/using-esignal-trading-software/#comment-1557 Well, that sounds not good. I was thinking about to use esignal for stock trading but i see i should do more research. Well, that sounds not good. I was thinking about to use esignal for stock trading but i see i should do more research.

]]> Comment on VectorVest Review by Ian http://www.stocktradingsoftwarereviews.org/vectorvest-review/comment-page-1/#comment-1506 Ian Thu, 04 Mar 2010 10:39:00 +0000 http://www.stocktradingsoftwarereviews.org/?p=269#comment-1506 I am a subscriber and have sent thre emails complained that the daily updates are not on time They regularly do not update until the next day Great product , however useless to use as it i s so unrealiable I am a subscriber and have sent thre emails complained that the daily updates are not on time They regularly do not update until the next day Great product , however useless to use as it i s so unrealiable

]]> Comment on MBT Navigator Review by Kenny http://www.stocktradingsoftwarereviews.org/mbt-navigator-review/comment-page-1/#comment-1266 Kenny Thu, 25 Feb 2010 00:51:05 +0000 http://www.stocktradingsoftwarereviews.org/?p=203#comment-1266 MB Trading is my broker of preference. They don’t mess with your orders at all; fills are fast; they could care less if you scalp or hold overnight. As a bonus, the MBT University is terrific for teaching you about the platform and much more. MB Trading is my broker of preference. They don’t mess with your orders at all; fills are fast; they could care less if you scalp or hold overnight. As a bonus, the MBT University is terrific for teaching you about the platform and much more.

]]> Comment on Stock Trading Software Explained by Steve http://www.stocktradingsoftwarereviews.org/comment-page-1/#comment-874 Steve Tue, 09 Feb 2010 15:09:16 +0000 http://www.stocktradingsoftwarereviews.org/?page_id=215#comment-874 I recently cam across the Dhynosoft program. Does anyone have an opinion of it? I recently cam across the Dhynosoft program. Does anyone have an opinion of it?

]]> Comment on AIQ Trading Expert Pro Review by Robert http://www.stocktradingsoftwarereviews.org/aiq-trading-expert-pro-review/comment-page-1/#comment-758 Robert Fri, 05 Feb 2010 21:38:34 +0000 http://www.stocktradingsoftwarereviews.org/?p=321#comment-758 What really strikes me about TradingExpertPro is that they have a focused section of group and sector tools. Most beginning investors and traders don’t bother to take these indicators into account, but they are so very important. Actually, before I do anything else, I always look at the sectors first. If a sector is cold I don’t go near it with a ten-foot pole. I don’t care what some analyst is saying about it on the tube; if its peers are tanking then I don’t want anything to do with it. The first step is to narrow down and only consider the hot sectors. Narrow it down to the top two or three. Then and only then do you start analyzing individual stocks within those groups. This works in your favor most of the time because even if you time your entry a little bit wrong the sector lift and volume will save you anyway. What really strikes me about TradingExpertPro is that they have a focused section of group and sector tools. Most beginning investors and traders don’t bother to take these indicators into account, but they are so very important. Actually, before I do anything else, I always look at the sectors first. If a sector is cold I don’t go near it with a ten-foot pole. I don’t care what some analyst is saying about it on the tube; if its peers are tanking then I don’t want anything to do with it. The first step is to narrow down and only consider the hot sectors. Narrow it down to the top two or three. Then and only then do you start analyzing individual stocks within those groups. This works in your favor most of the time because even if you time your entry a little bit wrong the sector lift and volume will save you anyway.

]]> Comment on Trade Navigator Review by Chuck http://www.stocktradingsoftwarereviews.org/trade-navigator-review/comment-page-1/#comment-757 Chuck Fri, 05 Feb 2010 21:28:38 +0000 http://www.stocktradingsoftwarereviews.org/?p=319#comment-757 There’s a large focus on backtesting with this product, and that’s a good sign. Most people don’t take the time to backtest their theories, and I believe this is a huge mistake. I do it quite a bit and it’s actually quite fun. The process is very much like that which scientists follow. First, you develop your theory, either market or stock based. This usually starts as just a hunch. Then you find a way to quantify your theory as a formula. In our case that formula would probably include PE ratios, moving averages, and such. Then you input your formula in the software, hit enter, and watch the magic happen. 95% of the time your theories will be proven worthless, but those other 5% could give you a massive edge over other traders. Just keep it to yourself if you want to keep using it to make money! There’s a large focus on backtesting with this product, and that’s a good sign. Most people don’t take the time to backtest their theories, and I believe this is a huge mistake. I do it quite a bit and it’s actually quite fun. The process is very much like that which scientists follow. First, you develop your theory, either market or stock based. This usually starts as just a hunch. Then you find a way to quantify your theory as a formula. In our case that formula would probably include PE ratios, moving averages, and such. Then you input your formula in the software, hit enter, and watch the magic happen. 95% of the time your theories will be proven worthless, but those other 5% could give you a massive edge over other traders. Just keep it to yourself if you want to keep using it to make money!

]]> Comment on X-Trader Review by Stan http://www.stocktradingsoftwarereviews.org/x-trader-review/comment-page-1/#comment-756 Stan Fri, 05 Feb 2010 21:20:04 +0000 http://www.stocktradingsoftwarereviews.org/?p=316#comment-756 X-Trader is such a powerful package of tools that it’s almost mind-blowing. I’m usually not one to believe in overkill, but this program certainly has more bells and whistles than I could ever possibly use. Then again, I’m not the most active trader in the world. For someone who trades more than a handful of times every day this software must be an absolute dream come true. For example, you can trade more than one market on the same screen at the same time, and that’s just something that I’ll never have a need for. It’s hard enough for me to stay focused on one trade at a time, let alone several! But for the more experienced guy who likes to scalp and likes to have access to lots of markets this thing would be pretty useful. X-Trader is such a powerful package of tools that it’s almost mind-blowing. I’m usually not one to believe in overkill, but this program certainly has more bells and whistles than I could ever possibly use. Then again, I’m not the most active trader in the world. For someone who trades more than a handful of times every day this software must be an absolute dream come true. For example, you can trade more than one market on the same screen at the same time, and that’s just something that I’ll never have a need for. It’s hard enough for me to stay focused on one trade at a time, let alone several! But for the more experienced guy who likes to scalp and likes to have access to lots of markets this thing would be pretty useful.

]]> Comment on FsXtra Platinum Review by Dexter http://www.stocktradingsoftwarereviews.org/fsxtra-platinum-review/comment-page-1/#comment-755 Dexter Fri, 05 Feb 2010 21:13:11 +0000 http://www.stocktradingsoftwarereviews.org/?p=314#comment-755 The fact that “interruptions happen two or three times daily” is a bit frightening. Hopefully they have that issue sorted out by now. I know that nothing is more frustrating to me than when I have a trade in my scope, I’m ready to pull the trigger, and then out of nowhere I lose power or the software freezes up. Some active traders might only find that one perfect opportunity once a day or once a week, so if that opportunity gets blown they may have to wait a whole week to make up for it. In the market game it’s all about consistent gains and allowing your account balance to compound, so you really need reliable programs to help make this a possibility. The fact that “interruptions happen two or three times daily” is a bit frightening. Hopefully they have that issue sorted out by now. I know that nothing is more frustrating to me than when I have a trade in my scope, I’m ready to pull the trigger, and then out of nowhere I lose power or the software freezes up. Some active traders might only find that one perfect opportunity once a day or once a week, so if that opportunity gets blown they may have to wait a whole week to make up for it. In the market game it’s all about consistent gains and allowing your account balance to compound, so you really need reliable programs to help make this a possibility.

]]> Comment on Fxstra Review by Keith http://www.stocktradingsoftwarereviews.org/fxstra-review/comment-page-1/#comment-754 Keith Fri, 05 Feb 2010 21:06:10 +0000 http://www.stocktradingsoftwarereviews.org/?p=311#comment-754 This might sound like a small thing to comment on, but it is actually very useful to have a charting feature which is java-based. Surprisingly enough, many market programs don’t offer this, instead offering only static charts that are updated every 15 minutes or so. Of course for the active trader 15 minutes might as well be 15 years. It’s so important to have lightning fast data and the ability to pull and manipulate charts on the fly. Java is great because it usually allows you to grab and spread segments of a chart, often times narrowing down to seconds or even milliseconds. Then you can see slight fluctuations that can alert you to emerging opportunities or danger signs. This might sound like a small thing to comment on, but it is actually very useful to have a charting feature which is java-based. Surprisingly enough, many market programs don’t offer this, instead offering only static charts that are updated every 15 minutes or so. Of course for the active trader 15 minutes might as well be 15 years. It’s so important to have lightning fast data and the ability to pull and manipulate charts on the fly. Java is great because it usually allows you to grab and spread segments of a chart, often times narrowing down to seconds or even milliseconds. Then you can see slight fluctuations that can alert you to emerging opportunities or danger signs.

]]> Comment on Transact Review by Chip http://www.stocktradingsoftwarereviews.org/transact-review/comment-page-1/#comment-753 Chip Fri, 05 Feb 2010 20:44:53 +0000 http://www.stocktradingsoftwarereviews.org/?p=309#comment-753 Transact is really designed with the futures trader in mind, and that’s perfectly fine, but traders who tend to focus more on stocks and options might be better served to try something else first. People usually lump all types of equities in together, but there are completely different strategies for different kinds of markets. For example, the options market is more about hedging risk or taking hail mary shots at the endzone. Options can give you an incredible amount of leverage in either direction, and overnight 10-baggers are not uncommon. On the flip side, some people will always buy a few puts when they go long on a stock, that way if it goes the wrong way on them they will still be able to make money on the puts. Transact is really designed with the futures trader in mind, and that’s perfectly fine, but traders who tend to focus more on stocks and options might be better served to try something else first. People usually lump all types of equities in together, but there are completely different strategies for different kinds of markets. For example, the options market is more about hedging risk or taking hail mary shots at the endzone. Options can give you an incredible amount of leverage in either direction, and overnight 10-baggers are not uncommon. On the flip side, some people will always buy a few puts when they go long on a stock, that way if it goes the wrong way on them they will still be able to make money on the puts.

]]> Comment on SwingTracker Review by Lou http://www.stocktradingsoftwarereviews.org/swingtracker-review/comment-page-1/#comment-752 Lou Fri, 05 Feb 2010 20:33:59 +0000 http://www.stocktradingsoftwarereviews.org/?p=307#comment-752 Swing trading is probably one of the most underrated methods for making money in the market, and it’s always good to see some new program come along that takes it seriously. Most people are either consumed with day trading and scalping or they’re convinced that the buy-and-hold method is the only way to go, but very few folks seem interested in swing or position trading. That’s a shame because I think it can make the average trader more money than any other technique if done correctly. You just have to know how to factor in sector strength, market strength, float, and moving averages. That’s really about it. Then you have to know how to manage entry and exit points. It’s best to average into a position and average out as it rises. Always uses trailing stops to protect your gains. Swing trading is probably one of the most underrated methods for making money in the market, and it’s always good to see some new program come along that takes it seriously. Most people are either consumed with day trading and scalping or they’re convinced that the buy-and-hold method is the only way to go, but very few folks seem interested in swing or position trading. That’s a shame because I think it can make the average trader more money than any other technique if done correctly. You just have to know how to factor in sector strength, market strength, float, and moving averages. That’s really about it. Then you have to know how to manage entry and exit points. It’s best to average into a position and average out as it rises. Always uses trailing stops to protect your gains.

]]> Comment on ProRealTime Review by John http://www.stocktradingsoftwarereviews.org/prorealtime-review/comment-page-1/#comment-751 John Fri, 05 Feb 2010 20:00:39 +0000 http://www.stocktradingsoftwarereviews.org/?p=301#comment-751 ProRealTime is definitely in my top-five list of most useful stock trading platforms and tools. Perhaps the best thing about it is that it’s totally web-based. No downloading should be required, and that’s just what I like. I hate junking up my computer with all kinds of software and crud; it just slows things down and adds headaches to my day. I’m sure most software downloads are just fine, but you never know when you might download the wrong thing and get a virus or adworm that screws up your whole system. They also have up to 11 years of intraday bars, a feature which I take a look at all the time and enjoy having access to. ProRealTime is definitely in my top-five list of most useful stock trading platforms and tools. Perhaps the best thing about it is that it’s totally web-based. No downloading should be required, and that’s just what I like. I hate junking up my computer with all kinds of software and crud; it just slows things down and adds headaches to my day. I’m sure most software downloads are just fine, but you never know when you might download the wrong thing and get a virus or adworm that screws up your whole system. They also have up to 11 years of intraday bars, a feature which I take a look at all the time and enjoy having access to.

]]> Comment on InstaQuote Review by Kevin http://www.stocktradingsoftwarereviews.org/instaquote-review/comment-page-1/#comment-749 Kevin Fri, 05 Feb 2010 19:49:26 +0000 http://www.stocktradingsoftwarereviews.org/?p=299#comment-749 In response to the comment by “S”, what are you doing trading pink sheets and OTCBB stocks anyway? There’s no quicker way to financial ruin than to mess with that garbage. I’ve seen people reduced to tears who took a gamble on a pink sheet stock and lost it all. You might as well go to Vegas…at least you’ll have some fun in the process. Seriously, though, stock trading software can only be as good and as useful as its operator. If you really want to make steady, long-term gains, then use your platform as a tool, use your brain, and only trade stocks that are on the NYSE or NASDAQ. There is a greater level of regulation with these markets that are in place to protect everyday people like me and you. In response to the comment by “S”, what are you doing trading pink sheets and OTCBB stocks anyway? There’s no quicker way to financial ruin than to mess with that garbage. I’ve seen people reduced to tears who took a gamble on a pink sheet stock and lost it all. You might as well go to Vegas…at least you’ll have some fun in the process. Seriously, though, stock trading software can only be as good and as useful as its operator. If you really want to make steady, long-term gains, then use your platform as a tool, use your brain, and only trade stocks that are on the NYSE or NASDAQ. There is a greater level of regulation with these markets that are in place to protect everyday people like me and you.

]]> Comment on Futures-Trader Review by Stephen http://www.stocktradingsoftwarereviews.org/futures-trader-review/comment-page-1/#comment-748 Stephen Fri, 05 Feb 2010 19:23:48 +0000 http://www.stocktradingsoftwarereviews.org/?p=297#comment-748 I certainly appreciate the features of the software, but none of them is more important to me than the fact that there is no account minimum. I can’t stand snobby brokerages or trading houses that won’t even talk to you if you have less than 50 grand to start with. Not all of us are that well-to-do. So I appreciate any program that comes along and can cater to the “little guy”. Actually, no matter what your net worth, it’s smart to start off with a meager amount of funds, and then if you are successful you can always devote more capital later on. Start small, learn the ropes, then go all in. I certainly appreciate the features of the software, but none of them is more important to me than the fact that there is no account minimum. I can’t stand snobby brokerages or trading houses that won’t even talk to you if you have less than 50 grand to start with. Not all of us are that well-to-do. So I appreciate any program that comes along and can cater to the “little guy”. Actually, no matter what your net worth, it’s smart to start off with a meager amount of funds, and then if you are successful you can always devote more capital later on. Start small, learn the ropes, then go all in.

]]> Comment on The News Trader Software Review by Josh http://www.stocktradingsoftwarereviews.org/the-news-trader-software-review/comment-page-1/#comment-747 Josh Fri, 05 Feb 2010 19:15:20 +0000 http://www.stocktradingsoftwarereviews.org/?p=330#comment-747 Wow, this is an awesome concept for trading software, and I honestly didn’t even know that something like this existed. It makes perfect sense, though. You can really catch other traders flat-footed if you have a tool like this at your disposal. I remember keeping tabs with one well-known trader who said that he had a list of trades ready to make just in case certain news events came across the wire. He was prepared for every situation! He had a jobs report outcome buy list, an oil production outcome buy list, and even a hurricane damage outcome buy list. Because he was ready ahead of time he was able to make a killing off of everyone else. Wow, this is an awesome concept for trading software, and I honestly didn’t even know that something like this existed. It makes perfect sense, though. You can really catch other traders flat-footed if you have a tool like this at your disposal. I remember keeping tabs with one well-known trader who said that he had a list of trades ready to make just in case certain news events came across the wire. He was prepared for every situation! He had a jobs report outcome buy list, an oil production outcome buy list, and even a hurricane damage outcome buy list. Because he was ready ahead of time he was able to make a killing off of everyone else.

]]> Comment on TymoraPRO Review by Colby http://www.stocktradingsoftwarereviews.org/tymorapro-review/comment-page-1/#comment-746 Colby Fri, 05 Feb 2010 19:01:03 +0000 http://www.stocktradingsoftwarereviews.org/?p=295#comment-746 I would have to agree that in some ways the market is like chess and in other ways it is not. It is similar to chess in the respect that you really need to plan and think through possible outcome before you make a move. You must already know worst-case and best-case scenarios, and have in place contingency plans if things go against you. For example, on the morning of a big trade you would want to plan a strategy of attack and also an exit plan. Then you enter the trade. If it goes how you’d hoped, great. If it turns against you, however, you’re already prepared and know exactly when and how to exit to minimize losses that could hurt you long-term. I would have to agree that in some ways the market is like chess and in other ways it is not. It is similar to chess in the respect that you really need to plan and think through possible outcome before you make a move. You must already know worst-case and best-case scenarios, and have in place contingency plans if things go against you. For example, on the morning of a big trade you would want to plan a strategy of attack and also an exit plan. Then you enter the trade. If it goes how you’d hoped, great. If it turns against you, however, you’re already prepared and know exactly when and how to exit to minimize losses that could hurt you long-term.

]]> Comment on QuantShare Review by Ray http://www.stocktradingsoftwarereviews.org/quantshare-review/comment-page-1/#comment-709 Ray Thu, 04 Feb 2010 23:28:49 +0000 http://www.stocktradingsoftwarereviews.org/?p=327#comment-709 The beta version is currently free, which is hard to believe when you consider all the features and tools. Also, it allows you to backtest almost anything, which is a very useful method for gauging a stock’s potential and trading history. If you’re not backtesting in some way then I can pretty much guarantee that you’re not making as much money as you could be. Stocks tend to act in very predictable patterns most of the time, so if you’re not taking the time to understand these trends then you are leaving a lot of money on the table. In this game it’s all about research and managing risk. Everything else is for the birds. The beta version is currently free, which is hard to believe when you consider all the features and tools. Also, it allows you to backtest almost anything, which is a very useful method for gauging a stock’s potential and trading history. If you’re not backtesting in some way then I can pretty much guarantee that you’re not making as much money as you could be. Stocks tend to act in very predictable patterns most of the time, so if you’re not taking the time to understand these trends then you are leaving a lot of money on the table. In this game it’s all about research and managing risk. Everything else is for the birds.

]]> Comment on My Trading Robot Review by Lee http://www.stocktradingsoftwarereviews.org/my-trading-robot-review/comment-page-1/#comment-708 Lee Thu, 04 Feb 2010 23:15:45 +0000 http://www.stocktradingsoftwarereviews.org/?p=324#comment-708 You know, when you first look at the site for my trading robot there are google ads and terrible graphics and it just looks like a sloppy setup, but the more you dig into it and see all the features it is actually quite impressive. If you can get past the ugly “cover” then you’ll see that there’s a lot to like with this program. I really like the fact, for example, that all dynamically generated stops are patterned after the previous two weeks of action for any particular stock. Most people overlook this trait, but it’s true that most securities behave very similarly for weeks at a time, and will often trade in a very tight and predictable range. This is useful for the scalper who just wants to take tops and bottoms all day long. You know, when you first look at the site for my trading robot there are google ads and terrible graphics and it just looks like a sloppy setup, but the more you dig into it and see all the features it is actually quite impressive. If you can get past the ugly “cover” then you’ll see that there’s a lot to like with this program. I really like the fact, for example, that all dynamically generated stops are patterned after the previous two weeks of action for any particular stock. Most people overlook this trait, but it’s true that most securities behave very similarly for weeks at a time, and will often trade in a very tight and predictable range. This is useful for the scalper who just wants to take tops and bottoms all day long.

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