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Blue wave trading review


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Blue wave trading review

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  #11 (permalink)
NY + NY/USA
 
Experience: Advanced
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I have been using the BWT for a few years, and finally discovered SuperTrend and realized that there was nothing special about the BWT's at all. It is mostly cosmetic. I have traded these tool-sets side by side and noticed no difference in the signal firings.

You can get the SuperTrends on this forum, or buy indicators from different vendors that are also great duplicates. You can even get a decent auto trader.

BW has turned off the license for the indicators I paid for and have used for these past few years. He has not refunded my money.

Indicators can add an edge when used well with emphasis on the most leading indicators of price, s&r, TOD, FTP.
So, before you spend a fortune on hyped up stuff with big price tags, consider alternatives. There are no secret indicators, or secret setups, or anything secret.
Your ability to trade well will ultimately (imho) come down to your willingness to learn to trade price action first, indicators second.

Also, if you are going to pay a large amount of money on any tools, better make sure there is real live training available on how to use them to trade with. Buying indicators and a printed manual of setups does not cut it. Show and tell in the live market is the difference between someone who sells hype and theory, and someone who actually can trade well with their own tools and setups.

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  #12 (permalink)
Georgia
 
Experience: Intermediate
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For what its worth.....I was using Blue Wave with Tradestation and decided to scrap Tradestation and begin using NinjaTrader about a year ago. I asked Randy would he transfer my license to my Ninja software...He said yes...if I paid for a new license...lol...I told him no thank you...and thanks to him and his cockiness, I found this site which has made me a much better trader!!! Thank you Randy...I really owe you alot of thanks!!!

Mike, did he only turn off your license????? If you want to keep this personal at this point I understand...just more curious why he would turn off a license in which someone has paid for.

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  #13 (permalink)
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I haven't used them in so long I don't know if he turned mine off. I don't even have them installed anymore. Why would he turn anyone's off that is a paying customer? That sounds like a lawsuit waiting to happen.

Mike

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  #14 (permalink)
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to set your chart like BW
use these setting

They have a nicer arrows :-)

Keep on sowing your seed, for you never know which will grow -- perhaps it all will.

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  #15 (permalink)
Spokane, WA
 
Experience: Intermediate
Platform: ninjatrader, tradestation, esignal
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I'm more interested in the automated program they have. He makes you buy the indicators to get the robot.

Has anybody run the robot? Have any performance reports? Thanks.

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  #16 (permalink)
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
 
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cashinvestor View Post
I'm more interested in the automated program they have. He makes you buy the indicators to get the robot.

Has anybody run the robot? Have any performance reports? Thanks.

Just my 2 cents worth...

Randy has been around for a while. Nice guy, lives in Hawaii. He's had his ups and downs trading for himself and trying to sell his programs. He was coming off of a down period when I talked to him, years ago. He had had a couple of his strategies on Attain Capitals' system tracking and had gone from super star to falling star. He offered a low ball price on all his stuff, said he was raising money to trade again. I talked to him several weeks later and he was on the upswing again. He said some Wall Street firm had licensed one of his programs and he felt he was going to get rich off of it. I asked him if the quote he had given me for $1,500 instead of the $3,000 list price was still good. He said... No, now that I have a big client with real money I don't really want to sell it anymore, unless you are willing to pay oh...say... $30,000. I laughed, told him congratulations on his success, shot the bull for a few minutes and went on with life. Months later I noticed he was advertising his systems for $1,500 to $3,000 again depending on when you saw his ad.

IMHO, Buying an automated system that will trade and make money for you consistently without your brain being engaged .... well... there's a fella here in Texas that sells a system for picking winning lottery numbers... he sells the system for $9.99...

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #17 (permalink)
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Check out this site Million Dollar Forex Challenge This guy is trying to use bots to make money in forex. He blew out his first account and after 4 weeks is down $1200 and change on the second account.

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  #18 (permalink)
NY + NY/USA
 
Experience: Advanced
Platform: Ninja
Broker: Optimus Futures- Rithmic
Trading: CL, 6E
 
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cashinvestor View Post
I'm more interested in the automated program they have. He makes you buy the indicators to get the robot.

Has anybody run the robot? Have any performance reports? Thanks.

I used to moderate for Blue Wave back in 2009, and for YTR before that.
I learned a great deal about the super trend system.

To his credit, he did have some pretty good brainless auto systems that did do well for a while years ago. They were the one's using larger time frames.

I ran the original version of the auto trader, helped test it in beta, and watched it develop into what it is today.

If you do not manage it pro actively for time of day, proper sensitivity settings for the instrument, and proper money management then you will have inconsistent results. If you do manage it properly, then it will do exactly what it was designed to do for you...it will pull the trigger without hesitation. Manage it correctly and it works great.

If someone is selling a system they do not trade themselves successfully then be very careful about your ability to succeed with it. If they do trade it themselves successfully make sure you get some proof. Back testing results do not guarantee future results. You need real time forward results over a specific period of time. Also, insist on some references that you can verify. Ask for 3 references or users, and make sure one of them has been using the system at least 6 months.

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  #19 (permalink)
Houston,Tx
 
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Jaguar52 View Post
I used to moderate for Blue Wave back in 2009, and for YTR before that.
I learned a great deal about the super trend system.

To his credit, he did have some pretty good brainless auto systems that did do well for a while years ago. They were the one's using larger time frames.

I ran the original version of the auto trader, helped test it in beta, and watched it develop into what it is today.

If you do not manage it pro actively for time of day, proper sensitivity settings for the instrument, and proper money management then you will have inconsistent results. If you do manage it properly, then it will do exactly what it was designed to do for you...it will pull the trigger without hesitation. Manage it correctly and it works great.

If someone is selling a system they do not trade themselves successfully then be very careful about your ability to succeed with it. If they do trade it themselves successfully make sure you get some proof. Back testing results do not guarantee future results. You need real time forward results over a specific period of time. Also, insist on some references that you can verify. Ask for 3 references or users, and make sure one of them has been using the system at least 6 months.


I'm old so bear with me.

If the system consistently makes money;

(1) Does Randy trade his own system? He didn't when I met him.

(2) Why would they sell it? If they wanted more money , couldn't they just trade more contracts?

(3) After all these years with a system that makes money consistenly , why do they still sell software for a living?


I talked to a software company (who shall remain nameless) years ago and asked for references. They gave me what I later found out was the contact info for their programmers... I'm just sayin'

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #20 (permalink)
NY + NY/USA
 
Experience: Advanced
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Broker: Optimus Futures- Rithmic
Trading: CL, 6E
 
Posts: 236 since Nov 2009
Thanks: 11 given, 1,270 received



ThatManFromTexas View Post
I'm old so bear with me.

If the system consistently makes money;

(1) Does Randy trade his own system? He didn't when I met him.
(2) Why would they sell it? If they wanted more money , couldn't they just trade more contracts?
(3) After all these years with a system that makes money consistenly , why do they still sell software for a living?

I talked to a software company (who shall remain nameless) years ago and asked for references. They gave me what I later found out was the contact info for their programmers... I'm just sayin'

1 - GOOD QUESTION. BE WARY OF VENDORS WHO DO NOT TRADE THIER OWN STUFF SUCCESSFULLY BUT BEHAVE AS THOUGH YOU SHOULD BE ABLE TO DO WHAT THEY CANNOT.
2 - ACTUALLY IF THEY WERE MAKING MONEY TRADING MORE CONTRACTS IS ONE WAY, BUT SOME PEOPLE ARE RISK ADVERSE SO ADDING MORE RISK MAY NOT BE A REALISTIC OPTION.
3 - GOOD QUESTION. SOME PEOPLE JUST LIKE TO DO WHAT THEY DO. TAKE BM HERE. I AM SURE HE DOES NOT NEED THIS FORUM AND ALL THE AGGREVATION AND WORK THAT GOES WITH IT. MAYBE IT IS JUST FUN.
4 - YES! VERIFY THOSE REFERENCES.

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