I am amazed how the two reviews above agree with 100% in every way my own observations of Sceeto. After cancelling my trial, Carl asked for feedback. I replied:
"I find it hard to provide a critique in light of the frequent training and prompt email response. But I'll say it as I saw it.
No consistent framework of specific indicators to trade day in day out. I certainly can't get confluence of five indicators. And when I did combine just two indicators, for every good signal, there is also a losing signal. I spent a full week on this day and night. I fumbled on it for a couple of days, but then everything was clear. So I don't think that it a matter of not understanding the premises. I have tested and traded many indicators over the years. Sceeto a big disappointment because my expectations were really high after watching Simon's "webinar of the decade." Upon watching Sceeto's videos, I thought "this is it!". But then nothing panned out on my observations. Often I got excited, but then I scrolled back a few days and realized that there is a loser or two for every winner. I will not go over the details of my observations because I am not taking upon myself the burden of proof that this does not work profitably. I tried to see the light of Sceeto up to the last hour of my trial.
I would consider Sceeto useful if you presented a consistent framework of how you actually trade this. Just going over some dots here and there and pointing out this worked or didn't work out isn't enough. Short of providing a trading statement that matches signals over a period of time, there must be a crystal clear model of some specifics setups (specific indicators involved). I couldn't see the profits -- sure there are scattered good signals.
On top of what I saw personally, it seems that *FRED has not lived up to expectations."
*FRED = Front Running the Electronic Devil by The Trading Den, which repackaged parts of Sceeto with a very clever name and Simon Townshed presented it in a sales webinar that he named "the webinar of the decade". Sorry to say, nothing produced any juice.
Sceeto is supposed to be reading robots activity, HFT. But I wonder whether it is just a bunch of colorful (lagging) indicators.
The following user says Thank You to joaobucks for this post:
Carl did ask for feedback, but couldn't help but think of this quote reading your review. Thanks for posting, some of my initial reservations about sceeto have not been abated after reading it. I have not yet done the free trial.
Principal: Mr. Madison, what you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul.
Billy Madison: Okay, a simple "wrong" would've done just fine.
The following user says Thank You to VegasFlyer for this post:
Is anybody aware of some high resolution data history for these indicators? I would not be able to use the free trial period until I had developed and back tested strategies using six months of tick by tick or a year or two of example 1 minute data.
A week of trial in real time is a waste until more time is spent learning with a longer useful span of past practice data.
Since only a few futures are covered, a sample data set up to, say, a day or a week before the current data (delayed) should help bring more serious users into the customer fold.
If the data are very different for different platforms, it may be hard to achieve credible consistency...
I had a trial of Sceeto. Carl is very bright and responsive to questions about the program. The problem I found was that I was not able to come up with a setup that would consistently give good signals using the program alone. I tried to use it within the context of market profile and footprint charts which are my guiding lights but still preferred my own setup and signals. Also, not sure that typical datafeed DSL/cable are fast enough to really provide genuine, real time HFT activity.
I would like to try it again though. A trial period really isn't enough time to evaluate this type of program. I may do so after the first of the year. The concept is very interesting but I need more time to play with it and track the output. I think it's worth the effort.
I thought the site was interesting, except one problem:
The McAfee internet threat scanner, which is a free download, reported that sceeto.com is a hazardous site, so I had to delete all the stuff that using sceeto's site installed on my computer. No harm was done that I know of, and I have no report of exactly what part of the entire arrangement might be hazardous.
I would highly recommend you dump McAfee it is junk plain and simple. Avast or AVG is much better. McAfee has been known to give lots of false positives. If you must pay then go with Kapersky or Trend Micro.
Sceeto is doing some many complex computations it would not surprise me in the least it would give a false positive.
I would agree about McAfee. Some years ago , we had McAfee in my workplace's network. There was a virus that kept coming back. It would transfer itself on every file access to a different physical or network hard drive. Even a usb flashdrive would transfer it. McAfee never caught it and it seemed it was infected itself. Finally Kaspersky cleaned it out for good. ESET's NOD32 is also good. Norton has a history of overbloat. But may be better today.
I had it for a quarter last year. Carl is great & is good at support. I used it with Tradestation...& probably Ninja was a better fit at that time....since TS did not support sub-second intervals then. It does have indications of retail vs insti buy/sells alongwith other stuff people have already mentioned...but i could not co-relate with my other stuff of vwap/volume, etc....hence thought it may not suit my style. But hats off to Carl....for his dedication for supporting the product. I think there is substance to the product .....but it did not suit my style. I take few trades in a day....& was not sure if the product was right for me. I think if i was a scalper might have been a better fit. Well am not sure....coz i did not put much time into it....as i said had it for a quarter only.