WAVERIDER PRO

anyone bought this, http://www.waveriderpro.com/ or know something about it's effectiveness?

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Originally posted by joachim reich

Okay. Dave Wright touts on his website and he told me as well, he has 1500+ days in a row without a loss using WaveRider. Quite a feat by anyone's standards.

So I asked him what I thought was a reasonable question: Since you claim a 1500 day win streak, please show me your trading statements for only 90 of those days. Block out any information that is sensitive like your address and account balance--I only want to verify you had 90 profitable days in a row.

The answer was "no." He gave me some convoluted logic of how we much trust each other and there are member testamonials and references, etc. I told him that since he claimed to have 1500 successive win days, he wouldn't be giving out any information through those statements that wasn't already known to the public from his website videos.

I also asked him for a money-back guarantee if, during a 2 week period after I purchased the product, he (not me) did not have 10 straight profitable days. The answer to that was also "no," with more blabber about trust on both of our sides and so on.

He then sent me a video with the trades of the day, which was very ambiguous, so I asked him to tell me precisley what time and price the trades he was referring to took place. He never answered tht request.

So, I came away feeling there is something very wrong with the whole sales pitch and Dave's refusal to substantiate the claims he made about his own trading so I'm not going to buy it.

For a man who claims to be 70 years old and making $3000 each and every day from trading the ES, I have to wonder why he wants and needs my and other traders' $800.

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If he had +1500 winning days in a row he would have a plaque at the CME. I think the current winner is in the +40 days in a row range.

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Originally posted by myptofvu
If he had +1500 winning days in a row he would have a plaque at the CME.

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I was thinking a statue like the Lincoln Memorial.

Yep, dodgy brothers. Thanks for sharing your investigative work joachim - you've definitely saved me, and hopefully anyone else that comes across this thread, a lot of time and our hardearned money.

Very much appreciated.

pberregi

I bought the Waverider Pro system and would like to talk to anyone who is currently using it. After simulated trading today it seems to work. If anyone could give me any insight I would appreciate it.

Here is what I do know about Dave Wright. He has been selling futures trading systems for a long time since 1992. He came out with two other systems call Cherrypicker and Plumpicker. I don't know anything about Cherrypicker but Plumpicker had a strategy that if you were stopped out then you would reverse. Waverider changed that rule from Plumpicker. The manual that I got was very hard to read. It was only after I emailed one of his member and got a good overview that I understood it (he spent 6 hours going over it with me). If I had to try to make sense of it by myself It would have took a long time. He actually has a lot of good info in it, only it is written too technically. The system consist of a technical indicator, rules for trading and money management.

I have been in his trading room for 3 days and he knows what he is doing. He walks you through some set ups and goes over various subjects pertaining to his course. He seems to be successful, the one thing that he can do is recover from losses. He does some things that work but they are hard to catch if you are not looking or expecting them (the same person pointed these things out after one of the sessions).

It's like anything else, if you know how to do it then who needs to buy a course. I seen some charts that are similar on [url]http://www.dacharts.com/index.php[/url], but the problem is that I am not that technical and would like someone to walk through it with me. In fact on this site there are some free set up and examples of others which shows me that there must be many different ways to trade the futures market successfully.

When you talk to Dave he seems genuine. I have no idea why he is selling the course if he makes 3K a day, the only thing I can think of is he enjoys trading. If he was truly a scam artist why would he leave his phone number and address on his web page? I guess that I am hoping for the best. If any Waverider Pro users want to start a forum let me know. If anyone wants to talk to me email or leave me a message on Skype (kenyee65).

When I was learning and in Feb 2006 I bought Plumpicker. Dave sent me his beautiful track record on Excel spread sheet( I can do that to....) and Plumpicker had too many rules for me and uses 1 and 2 min charts and CCI. He was on yahoo messenger, but he was condescending when you asked a question and always said "don't you see it" on the charts...and wait a minute, I'm in a trade.....

The credit card purchase was to a buddy of his who ran an Auto shop. I asked him how come he does not have his own merchant account if he is doing so well...........!!! He gave some Bull S*IT reply....

He lives in Ontario Canada.

Stay away. People selling courses over and over again....is all bull crap. If he was so good he should be taking his knowledge and trading to make millions or multimillions for a Bank or the like. Most traders at these instituitions are useless anyway, all from Business school and never traded...read Liars Poker...you will get it then.

There is always educational value in courses but VERY FEW GOOD SOURCES...VERY FEW are good. MOst are useless and you are learning from a losing trader(S). I been through too many in 2006 only to realize the course sellers don't make any kind of returns.

Like Bernie Madoff...he got $50 billion and possibly $100 billion and he MAY HAVE NEVER MADE A TRADE.

The best trader I came across when learning was in 2007, I took calls from him and he made 2,500% in 9 months trading. He went on to bigger pastures. He never taught a course. I asked him many times to teach me. NOPE was his answer. Wonder Why??

The only way you learn trading is by looking at charts and failing.

Intraday....learn about time then price. It will take you 3 years to get a grasp of time maybe quicker and 5 years to get to 90% if you spend 8-10,000 hours. By 8 years you should be a master.

However, your account may not last that long. Better trade EOD and commodities. Then when you have some real good money after 2-3 Years...then look into intraday.

Commodities is freedom. Intraday is sexy and ego.

Good luck

Absolutely spot on Pips2007.

MPUser

Hi,

I have been working with Dave's WaveRiderPro for a while. My conclusion is that it is not really proftable as a mechanical system.

That having been said, I can see that Dave Wright does make money trading as you can watch him do it every morning in the conference room. And he seems genuinley interested in his students success.

It appears to me that he use discretion in his trading (ei misses some losers, leverage up on better looking trades etc) and he does appear to know how to recover from loosing trades quite well. These kinds of discretonary edges will make a huge difference in one's performance over time.

So perhaps learning how he uses discretion to make money with his method is more valuable that the system itself.

Is anyone using WaveRiderPro making money with it?? Are you using discretion?

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Originally posted by Trayo

...I can see that Dave Wright does make money trading as you can watch him do it every morning in the conference room...

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Is this real money? Or a sim account that he's trading?

Pretty sure he is betting real dollars, as he doesn't seem to take losses lightly. I think his discretionary skills are second nature to him after 40 years trading, and those skills probably can't be taught, but only learned the hard way.

Sandy.

For some reason I was not able to reply to your PM you sent me. If you would like to talk, PM me your email address and I'll respond to your note.

thanks.
Jason