|December 17th, 2010, 10:19 PM||#41 (permalink)|
Futures Experience: Master
Platform: Tradestation, Ninja
Favorite Futures: ES CL GC 6E 6A ZB
Posts: 12 since Dec 2010
Thanks: 6 given, 1 received
Dec 2010 Viper Systems Review
Hey guys, I enjoy the exchange of opinion on Viper Trading and their various services. I was a premium susbscriber for quite a while, but not because Im new to trading. I currently trade Futures, Options on stocks and currency futures, precisely the instruments Viper records on all their videos. Nevertheless I was intrigued and I was looking for an Auto trading system that would trade a few hours in the morning while I focused on stocks. I can only watch so many charts at once so I thought lets give it a shot. I spent a few months in the Trading Chat room, the chat moderators would talk about setups and market conditions pretty vanilla type commentary in a trading chat. They would constantly bring up live screenshots of the Auto Trader trading Crude or Gold, personally I use Squawk Box and various technical indicators on Tradestation, but when I joined I installed all the viper indicators etc... and I thought lets see what kind of edge this Viper package would provide. There is no magic grail I'll be the first to acknowledge that, trading is all about probabilities and having less losers than winners and guess what you come out ahead. Ive traded successfully on my own so I wasnt looking for a system to fix things or make me a fortune, I was looking for an extra set of eyes to allow me to trade more instruments per day. After a couple months of learning the setups levels and all the Viper techniques combined with their indicators I came to the conclusion that their software simply does not provide any value that you cannot obtain for free. I hope any newbies looking for the way steer clear of this software and do not trade real money accounts with their auto setups or manual Viper indicators they, you will come out losing. Even a lousy trading strategy or method can be profitable in the 50% range, many services advertise 70% or better signal accuracy or trading results Viper is neither copying a simple Heiken Ashi candle color you can get for free on any software and using Floor or Camarilla Pivots will provide you far better results for alot less money. When I did ask them if their red and blue candles colors were Heiken Ashi they claimed it was an advanced formula they could not share with me. LOL! Guess what I did well I simply took my Tradestation chart and Ninja chart same timframe side by side and used the Heiken Ashi along the Viper and it was nearly identical. I hope any new traders or struggling traders find this review useful, Im not here to bash any quality companies selling valid training or software but I do feel as an experienced trader that has seen it all it is my duty to pass on my opinion of indicators and software that serves no purpose other than to part traders from their money. I never asked for a refund of my membership fees I simply cancelled my subscription, I consider what I paid for a few months a cheap tuition to measure the quality of the teacher and the class. Good trading all!