AbleSys/ AbleTrend 7

This is a discussion on AbleSys/ AbleTrend 7 within the Trading Systems forums, part of the Methods category; Hi, Has anyone got experience with the AbleTrend system I would like to hear good or bad....

Reply
 
LinkBack Thread Tools Search this Thread
Old Apr 9, 2008, 7:02pm   #1
Joined Mar 2007
AbleSys/ AbleTrend 7

Hi,
Has anyone got experience with the AbleTrend system I would like to hear good or bad.
Old Man is offline   Reply With Quote
Old Jun 12, 2008, 6:49am   #2
 
2 Posts
Joined Jun 2008
Thumbs down Re: AbleSys/ AbleTrend 7

Quote:
Originally Posted by Old Man View Post
Hi,
Has anyone got experience with the AbleTrend system I would like to hear good or bad.
Yeah,I used it....twice.....

I have just finished testing Ver 7.0. Here are my impressions.

First ran into it via S&C magazine a couple of years back in its previous version. At that time eASCTrend was promoted by John Wang as black box setup via its Hybrid Trading method. It had clear cut rules with zero room for trader discretion. It was simple and very logical in it's approach, although I am still not sure how those signals are generated....it's looks like a trend following a breakout but sometimes it looks inconsistent.

My biggest gripe is this - the HTM method which was touted as back tested over 10years is no longer offered as the default approach. It's still there but it's been replaced subtly as the goto method by the simpler STM (non mechanical and highly discretionary approach).

The company claims this was abandoned as they have now adopted a discretionary approach to all three of entires, exits and S&R's. By dropping the mechanical approach they are subtly admitting that the mechanical model did not work (but try to get their salesman to admit that...ha ha) Going back to the discretionary approach (by it's very definition) relies on the traders technical analysis skills. Anyone serious enough to spend thousands of dollars on ABleSys and even more on the datafeed would assumably have done their TA homework before they started trading anyway (unless they plan on losing their money).

For the uninitiated, while seeing green red and blue dots seems all too easy, but the discretion that smarter traders have plus the money management and trader discipline required is not taught by the system.

Additionally, AbleSys itself says that the system does not work in a sideways market....it takes considerable practice to understand the sideways vs. trending market timeframes....that makes a big difference in the results and the software leaves itto you to get the setups correct.

So...count it all in.....there are so many qualifications before ablesys has a fighting chance of producing good results. As mentioned, in a trending market it produces good results, but was everyone a genius before the nasdaq bubble popped or before the uranium bubble popped.... So buyer beware..... Both tests on eASCTrend 6.0 and 7.0 are a waste of a whole lotta money.

Good common sense technical analysis would likely produce the same results.
Ramon11 is offline   Reply With Quote
Thanks! The following members like this post: the blades
Old Jun 12, 2008, 5:59pm   #3
Joined Mar 2007
Old Man started this thread Hi Ramon,
Thanks for taking the time, tells me all I need to know.
I had pretty much gone off the idea and am trading with just EMA's, Stochs and RSI and managing pretty good. Tham
Thanks again.
Old Man is offline   Reply With Quote
Old Mar 3, 2009, 8:22pm   #4
 
2 Posts
Joined Jun 2008
Here is the latest on Able 7.10, after starting to charge existing customers yearly maintenance fees (including charging those customers that bought the "Deluxe" version of the software with supposedly lifetime registration) they are now charging data "service" fees. And that's for data from other vendors - eSignal, RealTick etc etc. If I have a Lifetime Deluxe Version, now I have to pay yearly maintenance fees on the software, plus data fees plus data access module fees.... nice gig they have going there.

There must be a lawsuit in here. Is there a quicker way of killing your product than gouging your existing customer base that Mr Wang now views as cash cows to be ripped of. I hope people who are reading this are aware of the implications of this before they plunk down 5-6grand for software that essentially is a white elephant.

Caveat Emptor.
Ramon11 is offline   Reply With Quote
Old Oct 14, 2009, 8:45pm   #5
Joined Nov 2005
The indicators are largely based on Williams%R. I have seen the "unpacked" version. With this said, I have not tested the performance of easctrend 6.0 or abesys 7.0 so I can't be much help. However, for an expensive piece of software Easctrend 6.0 had a very primitive back testing function and a not very realistic execution at bar close. That is, on a daily chart the trade has to be executed at the very close of the day (not next open) or at leastt o be given that option when backtesting. If the system makes money in a strong trend but loses money in a sideways choppy marked, I know of a way to save you money. A moving average crossover will do just as well. You will never miss a big move but you will get many false signals when the market is not trending. If you ever find a way to filter out the false signals this will be a moneymaker.
Hwyman is offline   Reply With Quote
Old Apr 15, 2012, 2:06am   #6
 
8 Posts
Joined Apr 2012
Re: AbleSys/ AbleTrend 7

I would disagree with anyone who puts down Ablesys. I use it and it works very very well for me. It was easy to learn, is easy to use, and has been well worth the money. However, I would point out that I use it as a so called "hybrid" system in that I do not totally rely just on Abletrend signals to make my trades.
Kevinjk is offline   Reply With Quote
Old Apr 15, 2012, 9:40am   #7
Joined Oct 2006
Re: AbleSys/ AbleTrend 7

Just get any free charting package and load Heiken Ashi candles and parabolic SAR and you have more or less the same thing for free.
pboyles is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Ablesys system Kennard Forex 23 Apr 15, 2012 7:39pm

Currently Active Users Viewing This Thread: 2 (1 members and 1 guests)
million$man