Has anyone heard of Wizetrade and is it legit?

Question

I'm considering a purchase of the Wizetrade software and would like any information that is out there.

Answer 1

Wizetrade is a decent software program and they seem to have pretty good support. Their software is pretty conservative so it will work well and keep you out of trouble if you follow their rules.

The issue I had with it was that since it was so conservative, I found it difficult to find trades that fit the rules. So, before you keep the software, be sure to try it out and find viable trades for yourself. If you do and you like it, you're good to go.

On a separate note, it all depends if you're looking for a system or want to learn how to trade. If you want a system, then Wizetrade or Options made easy are both decent.

If you want to learn how to trade, you'd get something like optionetics or investools or tmitchell.

The other important thing to remember is YOU have to do your part. You'll have to be disciplined and follow your rules. If you do that and don't give up, it'll be just fine!

If you have any other questions, just let me know.

Hope that helps!

Answer 2

Yes it is legit. They've been around a long time. Without knowing you goals or methods or level of expertise, we can't tell if it would be a good fit or not. Generally, the people that like to figure things out how they work and get into the nuts and bolts of it all, will not be happy trading a Black Box system like Wizetrade; too simple. On the other hand, some people like it simple.

I answered this question just yesterday, and so I'll copy my answer here.

It would be helpful to have more specifics in your question. I don't know where to begin and don't feel like writing pages and pages going over stuff you already know. I used to teach traders, and Wizetrade made my job very simple. There is not a whole lot of background or learning, and people can come up to speed quickly, within a few months, compared to a few years for the technical analyst. I know of several people who are succesful with Wizetrade.

But if you want specific answers, and can formulate a specific question, ask the people who use it. There are several Yahoo Groups, 20,000 people in the first group, who like it just fine.

It is for people who don't want to learn Technical Analysis and want it simple. The problem with most technical analysts, including myself, is that they have too much to consider, and so can't decide when it's time to trade. In this respect, Wizetrade gives you a simple plan that you can follow and execute. That is really the crux of trading: finding something that works and sticking with the plan.

Here are three groups:
http://groups.yahoo.com/group/wizetradeu...

http://groups.yahoo.com/group/wizetrader...

http://groups.yahoo.com/group/wizetrade_...

http://groups.yahoo.com/group/wizetrader...

I found these sites by going to Yahoo Groups and searching for "Wizetrade."

Answer 3

My personal opinion is that it is a get rich quick scheme that makes the pitchmen rich and not you.

Make a list of get rich quick schemes that you have seen in informercials and then research them on the web.

I taped the get rich by buying real estate informercial and I would suggest that you tape these commercials. When you play them back, you will find that their pitches are very similar. List all of the statements and scenes that they show you to entice you. Boats, women, big houses, any dummy can do it etc.

Then look up each infomercial on the web. For many of them, there are honest reviews. Read the Carleton Sheets real estate review of the course and you will quickly see where the truth lies. I think you can apply that review to most other infomercials.

They try to create dreams of a rich and happy life, but in the end you are parted from your money and you don't have what they promised. If any stock trading system worked, the stock trading companies would have bought it for billions of dollars from the designer and taken it off the market to use only for themselves.