TruTrade (trutrade.io) .... anyone? - futures io
futures io



TruTrade (trutrade.io) .... anyone?


Discussion in Trading Reviews and Vendors

Updated
    1. trending_up 972 views
    2. thumb_up 4 thanks given
    3. group 3 followers
    1. forum 3 posts
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

Closed Thread
 
Search this Thread
 

TruTrade (trutrade.io) .... anyone?

(login for full post details)
  #1 (permalink)
AstroTuna
Chicago, IL
 
 
Posts: 12 since Jan 2020
Thanks: 0 given, 7 received

Here's an automated system that I hope this community considers looking into. The name is TruTrade (not trueTrade and not truetrader). I'm curious if anyone knows anything about this company or the product. Promotional videos are impressive, but then who's aren't? I did take a live demo (mentioned below) and with my own charts side by side, it was accurate and profitable.

There are concerns though. The website has a telephone number that struggles to answer and cannot take a voicemail. The domain registration information is shielded by a registrar in Panama (I think). There are no performance results posted on the website, nor any mention of backtests or forward walk testing. No drawdown stats, Sharpe ratios, ... anything. There are no reviews of this system on the internet (but the company does provide ample 'live' trade example videos in their YouTube channel.) The only 'information' I could find on the net were various press releases from the company made to look like news articles planted on news aggregator websites. These releases provide the name Danny Rebello of Scottsdale, AZ. All of these press releases are from late 2020. Essentially the only way you can find out more is if you sign up on the website for a live demo. A few red flags to be sure.

Nevertheless, curiosity got ahold of me and I signed up for the live demo. Within minutes I received a call on my cell from "Nevada" ... which I usually ignore as telemarketing ... but thinking that it might be them I picked up. It was and I setup a time for him to call back and give me a demo. I was hoping to see the bot trade during optimal trading hours (for me that's 8:30am - 11:00am CST), but he offered to call back in 2 hrs., which was about 1:00pm CST. Definitely a lull time during the day which I initially wasn't thrilled with.

Actually it was a good time to see this thing because if it could be profitable during a choppy part of the day, maybe it would do really well during non chop periods. And to be honest, it looked pretty good. 3 profitable trades in the 50 min demo and the chart had absolutely no discernible trending whatsoever.

The sales pitch was not heavy and did not try to create scarcity by offering a "today only" deal. In fact, the guy who called didn't seem to care one way or another when I said that I couldn't pull a $7K trigger on this deal at that moment. He just said to call him back if I was interested.

So, although this has piqued my interest, I'm skeptical (by nature) due to all of the red flags noted earlier. Look, I wouldn't be adverse to dropping the $7K for the bot (or $3500 to trade micros only.... which is a little strange TBH) if it was going to meet my needs.

I posted this on elitetrader as well, although that site is typically somewhat negative on automated systems and trading algos. Hopefully, someone here (1) knows something about this system or (2) would be willing to setup a live demo for themselves and report back their impressions.

And, before I get accused of being some type of advertising shill plant by the company... believe me, I'm not endorsing this. I'm just a consistently profitable discretionary day trader that considers everything and always looking for an edge.

Sincere thanks to anyone who responds.

The following user says Thank You to AstroTuna for this post:

Can you help answer these questions
from other members on futures io?
AUSuperTrend in the NT strategy builder
NinjaTrader
MCnet: (Multi-Timeframe) EMA @ Weekly Data on Daily Chart
MultiCharts
Find the largest volumes in the cluster
NinjaTrader
Using fxd files in FXCM trading station
Platforms and Indicators
EMA as a trailing stop
Traders Hideout
 
 
(login for full post details)
  #2 (permalink)
 Blash 
Chicago, IL
 
Experience: None
Platform: NT8,NT7,TWS
Broker: InteractiveBrokers, S5T, IQFeed
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
 
Blash's Avatar
 
Posts: 2,288 since Nov 2011
Thanks: 7,261 given, 4,448 received

I wouldn’t waste a second looking over this “system” so I don’t know a thing about it. That being said..... what I do know about this system is it will not make you money. It will only make that guy who called you money once someone buys it.

I’m honestly trying to help.

Sure it will make trades that work, guaranteed. Random trades will make money. But, it will give back this money plus more.... guaranteed. Without question.

The market is not some mathematical puzzle or problem to be solved. It is a very large group of people interacting.... It is a social experience.

I know I know .....all the bots .... still people using tools they made.

The simple fact that there is zero information about this “system” on the site, as you pointed out, speaks oceans.

I don’t have time to get into details.... just one.... any approach to the market has to take into account risk tolerance. Briefly, position size plus stop placement or where you say, done this is not working and exit. This is extremely individual. Large accounts (>$100k) can make many market approaches work compared to small accounts.

If a “system” fails to discuss this.... it is not a system at all.

It’s just modern day snake oil.

Ron


Sent from my iPhone using futures.io

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
Follow me on Twitter Visit my futures io Trade Journal
The following user says Thank You to Blash for this post:
 
(login for full post details)
  #3 (permalink)
AstroTuna
Chicago, IL
 
 
Posts: 12 since Jan 2020
Thanks: 0 given, 7 received


Thank you BLASH for your reply.

All true, what you said. Still, given a set of entry parameters, a program will surely execute much faster than a human will...especially with psychology, uncertainty and hesitation.

Major financial institutions use automated trading all the time, very successfully. I don't think it's farfetched that the market would bring automated solutions to the retail trader. There are even some on this site that talk about their own algos that run 24/7.

Still, until this company can provide for detailed information and there are some independent reviews, it just doesn't pass the sniff test.

The following user says Thank You to AstroTuna for this post:
 
(login for full post details)
  #4 (permalink)
 Daytrader999 
Site Moderator
Ilsede, Germany
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Rithmic / CQG / Ninja Trader Brokerage
Trading: NQ
 
Daytrader999's Avatar
 
Posts: 1,409 since Sep 2011
Thanks: 1,638 given, 2,093 received

Please use the existing vendor thread:

I'm closing this thread to avoid split topic.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
The following user says Thank You to Daytrader999 for this post:

Closed Thread

futures io Trading Community Trading Reviews and Vendors > TruTrade (trutrade.io) .... anyone?


Last Updated on May 21, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing

BloodHound Fundamentals 101 w/Jeremy Tang @ SharkIndicators

Elite only
 

Our 12-year anniversary w/ $$,$$$ prizes (check soon)

June
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts