Viper Trading Systems Indicator | Trading Reviews and Vendors


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Trading Reviews and Vendors


Discuss and review vendors of commercial trading products, trading rooms and services, trading indicators or third-party paid add-ons




 

Viper Trading Systems Indicator

  #80 (permalink)

Phoenix AZ USA
 
Trading Experience: Advanced
Platform: SierraChart
Broker/Data: TradePro/TransAct
Favorite Futures: NQ YM
 
Posts: 345 since Nov 2009
Thanks: 143 given, 420 received


Zoethecus View Post
Don't be naive. Vendors don't trade what they sell to the public. They like risk free income from people like ronan.

Until you see their trading statements you know nothing.

I suggest to anyone who is considering spending money for these systems, to get the trading statements from the principals of the company. If they refuse regardless of the reason, be thankful you didn't sign up.


Peter2150 View Post
Absolutely, and I agree with you, and I wouldn't use the Viper AT's for several reasons, but I disagree the vendor's are being dishonest. I do use Viper and I do find it useful.

The reason I disagree with Zoe about the vendor is he is making a statement about their character, because the product doesn't work as he feels it should. They never claim, in fact caution against just turning it on and running it all day. So to do what they say don't do, get lousy results, and then say they are crooks, just doesn't wash, and I feel people reading this should get balance.

I've played with another AT, that again was designed to work exactly as the trader himself traded. If you like his approach this was great. The value was you could see when the market was behaving according to the rules he had, turn on the AT, and it would execute for you. The advantage. Reaction time. Again, this fellow had the strong caveat, don't turn it on and let it run all day, it will surely loose. So again to turn it on let it run all day, and get lousy results, and thus say the vendor is a crook isn't fair.

My problem with the VIper AT's is they aren't Viper, but some black box of Rich's and I can't judge when they should do something, so I have no way of knowing if they thing is even working. And that I wouldn't run.

Maybe the issue lies in the definition of what an Autotrader is, and that is another story.

Pete


My definition of an autotrader is a completely automated system that is sophisticated enough to be run 24hrs with no human interaction and still have a consistent positive equity curve, with minimum drawdowns and tight stops. My expectations are high enough to preclude their actual existence, at least for now.

As for the integrity of Viper Trading Systems: They don't trade live in the live chat room, they don't have interactive chat in the live chat room, their trade reviews on their webinars are hindsight because the Viper colors will repaint two bars back, their indicators are not proprietary but ones repackaged and renamed from the public domain, their forum is sanitized because negative posts are disallowed, and they don't publish any backtest data on their autotraders which are continually curve-fitted to the previous month's market dynamics. Yeah, they do say some things that are actually true and useful, especially Gary Donahoo, but it's really a stretch to call the company honest. As Zoethetus said: it's like being half pregnant.

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