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.
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.
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.
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.
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.
RockLobster7
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I liked this reply... have started to look into Heiken Ashi candles and it is very interesting, will incorporate into my trading. Thanks
Can you help with a concrete recommendation?
I am new here and new in indices trading with mini-futures.
...and stumbled over you very interesting/promising comment!
Could you help me with a concrete proposal for your recommendation?
I am new here and new in indices trading with mini-futures.
...and stumbled over you very interesting/promising comment!
Could you help me with a concrete proposal for your recommendation?
M
malaguti
did you get that PB, a concrete proposal? Its not like you've given much away already.
NDB would you like entry, exit points trade management and an equity curve as well? I'm sure PB won't mind at all
wackypete2
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or better yet, have pb do it all for him and just send him the profits.
Peter
Peter
What I was trying to demonstrate was that rather than buying Ablesys you can create pretty much the same thing for free. What I perhaps did not clarify was whether or not such a system (free or paid for) will be profitable. Just to be clear it won't, it will lose money but you might as well lose money for free rather than paying for a system that loses money.
If you want to actually make money then work for it by getting a job or a second job. Give up this notion of making money by looking at flashing lights on a computer.
Yes From a long time Ablesys user ....
Reading this thread , I can tell that most people who posted are not experienced Ablesys users, or perhaps have tried a trial version, so I thought you might appreciate hearing from one who has been a Abletrend user for many years ...
I traded with Tradestation and used Ablesys as a add on indicator , later when Tradestation decided to concentrate on Institutional Investors I made the switch to Ablesys as my main charting package...
The rules on the system are very clear and they are constantly working to fine tune according to market conditions and have several webinars a week in which they review Ablesys performance for the day , and I can tell you that it is one of the best if not the best system in the market, it can perform under any time frame, and any markets, futures or stocks, day trading , swing or position ..
Regarding the Maintenance fee , they started charging, I din't like it either , but after having issues, and having their techs access my computer through remote, and tweaking my system files for top performance, addressing any issues in a timely manner and the weekly seminars, personal interest they take interest in their clients, come to the conclusion that in order to offer such top notch service to their customers costs money and is worth it .....
Also the system is complete, you need no other indicators and can devote your time to processing orders, no need to spend countless hours analyzing, tweaking indicators for ever changing market conditions and can get right down to the serious business of making money ....
It is a an expensive system , but those of us who can afford to have the best it is a good investment , if you want to see your income grow from trading ..
Hope hearing from a long time Ablestrend user, will help
Ray Fernandez
Reading this thread , I can tell that most people who posted are not experienced Ablesys users, or perhaps have tried a trial version, so I thought you might appreciate hearing from one who has been a Abletrend user for many years ...
I traded with Tradestation and used Ablesys as a add on indicator , later when Tradestation decided to concentrate on Institutional Investors I made the switch to Ablesys as my main charting package...
The rules on the system are very clear and they are constantly working to fine tune according to market conditions and have several webinars a week in which they review Ablesys performance for the day , and I can tell you that it is one of the best if not the best system in the market, it can perform under any time frame, and any markets, futures or stocks, day trading , swing or position ..
Regarding the Maintenance fee , they started charging, I din't like it either , but after having issues, and having their techs access my computer through remote, and tweaking my system files for top performance, addressing any issues in a timely manner and the weekly seminars, personal interest they take interest in their clients, come to the conclusion that in order to offer such top notch service to their customers costs money and is worth it .....
Also the system is complete, you need no other indicators and can devote your time to processing orders, no need to spend countless hours analyzing, tweaking indicators for ever changing market conditions and can get right down to the serious business of making money ....
It is a an expensive system , but those of us who can afford to have the best it is a good investment , if you want to see your income grow from trading ..
Hope hearing from a long time Ablestrend user, will help
Ray Fernandez
