TradeOnAUTO - anyone tried it?

churbo

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Has anyone tried the TradeOnAUTO software? I don't have an IB account so I can't take advantage of the free trial they offer - but if it gets good independent reviews I might bite the bullet and open an IB account so that I can test it.

If you have used it or used the tradeonauto trial let me know if you think I should try it or not.

Thanks!
 
I use it. Support is good. It is good for me because I set it up to trade automatically while I'm at work. (When I first got it, I watched it a few times and it is quite clever...)
I like that they post genuine statements and real trades in their blog.
You adjust how it trades to your own settings - so it's no silver bullet. I lost last month, but am well up this month.
(They weren't offering a free trial when I got it.)
I would like more information about what settings work best.
Providing your happy to follow their overall style (breakout trading), it is a good tool.
 
Hi everyone,

Since I didn't get much of a response (apart from snake - thanks snake!) I just decided to give it go and I set up an ib account (which wasn't too hard) and got the tradeonauto free trial. I thought I would share my findings with you.

Pros
- Support is really good - like snake said. It came set up and ready to go with a strategy which helped me get started. I had a few questions and they answered them all same day.
- I can run it at night when I am in bed. This is awesome for me because I am in New Zealand and the markets open at 3:30 am.
- Trading is no longer emotional for me because I am asleep. I usually find the emotional part really hard and because I trade in the night I find it hard to get to sleep if I have a bad night.
- It is more flexible than I thought it would be. Like snake said you can set it up to trade how you want and I like that I am in control!!!!

Cons
- It is quite expensive.
- It only works with ib which was a pain for me because I had to set up a new account just to try it.

Happy trading!
 
Hi Churbo, I've read the book by the author of the TradeOnAuto system and I've been following his blog. I would be interested to know if you have continued to use his software after your free trial.

Like you agree it's a little pricey, but if it works...then thats the ultimate goal.
 
Hi Andrew, yes I decided to continue using the software after the trial. I must say I am very pleased with my decision! I paper traded most of Nov and then started trading live in Dec. So far so good! I have a set strategy that I am trading and with the software it is just all very simple to use.

If you are interested in the software then you should give the free trial a go - it is free after all!
 
Hi Churbo, thanks for the reply. I don't have an IB account at the moment and already have two other trading accounts...stretched a little thin. Might try to get it coded for TradeStation!
 
If you don't mind me asking...how many contracts do you usually trade at time? On his blog he only does one contract at a time since he is trying to illustrate that it can be done with a smaller account. I think the real benefit of the software comes when trading 3+ contracts though.
 
Hi Andrew, I am trading two wheat contracts at the moment - though I am getting close to trading three after a good month and a half! I guess that the money management would work better if I was trading more contracts (i.e. the difference between 1 and 2 contracts compared to the difference between 5 and 6 contracts). I suppose I could trade a different contract (say corn) which has a lower margin than wheat, but to be honest, trading two wheat contracts has been fine.

FYI - I had to switch my account to IB and it was pretty easy - I just filled out a form and the broker did the rest.
 
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