WAVERIDER PRO

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

Hello,
I purchased Wave Rider Pro (Level 1) Yes, there is a level 2 but it's not needed to trade Dave Wright's system effectively. That is what he would have you believe. He teaches how to trade his system and when you start to have questions he directs you to his WRP Level two web site. I believe this is called the "up sell"
The original system costs $800 and if you would like to learn how to trade it the way Dave does it will cost you an additional $400
I don't trust this man.

Rocki what are thoughts on waverider pro? I visited their website and would like some insight on this product if it works or not. They dont offer a free trial or show past performance results so I am kind of suspect

Thanks

Morkman what are your thoughts on waverider pro as of now? I was looking at this product on their website. Does it work for you?


Thanks

quote:

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Originally posted by KevinH786

I bought WaveRiderPro about a year ago and I think it's a great system. Clean charts, easy to set up, great support.

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How have you done trading it? I would love to hear your feedback.

I have been searching high and low for the effective trading indicator and basically after 9 months have put it all together. The bottom line is no set of indicators will determine success. The reason why only a small percentage are successful is because most look for the wrong things to become successful. I know, I had been searching to refine my system with this and that indicator and would still be doing so if I did not run into someone that was trading. The trader thought it was his set of indicators that worked and even wrote a book on it. I traded with him and took the same trades and lost money while he made money. Being an analytical person I called and talk to him and still could not figure it out. Finally after reviewing his trading log I found that it was his money management that was the key combined with indicators. As far as WAVERIDER PRO, it can work but you have to have trading experience to make it work meaning you have to understand technicals, money management, and risk control. If you take the system as a starting point from learning and not the Holy Grail, then you can write a trading plan. You do not have a trading plan until everything comes together and you say to yourself that if I trade 100 trades my system will have a high chance of making a profit. The system works if you have Dave's experience and the last piece you need in your trading plan is to get guidance on entry. If you just try to trade it without experience you will definitely lose. I know, when I started trading it, it was not pretty. I thought I must be the only one in the world that cannot make this work. Money management will not tie all these things together until one is ready for this. I have lost a lot of money and searching and have read night and day for 7 months (can do that since I am self employed) and then ended up finding the link in a place I wasn't looking. Most profitable traders do not look for indicators first but indicator is the piece that normally gives them the entry to complete their trading plan. That in my opinion is why most fail because they look for the indicator first. It is like trying to bake a cookie without having all the ingredients, although baking is very important it will not turn out with the basic ingredients. One of the lessons I can pass on is that if one is not ready to intensively learn (good chance you will lose money) and go through the pain (and it is quite a bit) try something else. As usual I have no problem talking to anyone and do not sell anything, just trade; kenyee65 on Skype.

if you cant program it, you cant test it.
if you cant test it, youre just dicking around, youll get hit hard.
ever wonder why the developer of this system, is not offering it as a strategy, which could facilitate automated trading... because he has already programmed it, and it sucks via history. So he offers the system with pick and choose trades of his own, to mesmerize you into purchasing, and also, he injects variations of the approach, to confuse into thinking youve got it wrong, while he, always gets it right. Stay away from this guy

WaveRider sold by Dave Wright is total crap. If by chance you are profitable on a daily basis it is dumb luck. More often than not you find yourself in a large hole trying to get back to break even. Please do not waste your money like I did.

Don't waste your money. Dave's method uses more risk per trade than it targets, (I call that catching $5.00 fish with $10.00 worms) and after losses he raises the target to recover and recommends increasing contracts. There is no filter to keep you out of choppy conditions so you WILL take a string of losses (think 6-10) in a row, however his entry technique assures that you will catch every loss but miss some entries that would have won. On his behalf, he seems to be a very genuine and caring man... but his writings are muttled, confusing, and leave many variables open for the trader to decide in their own "master trading plan". And by the way... he won't share the details of his own personal master trading plan with you. What a surprise. I'd sure love to see anybody's plan that has brought them 1500 days of pure profits.

Originally posted by eso

Don't waste your money. Dave's method uses more risk per trade than it targets, (I call that catching $5.00 fish with $10.00 worms) and after losses he raises the target to recover and recommends increasing contracts. There is no filter to keep you out of choppy conditions so you <b>WILL</b> take a string of losses (think 6-10) in a row, however his entry technique assures that you will catch every loss but miss some entries that would have won. On his behalf, he seems to be a very genuine and caring man... but his writings are muttled, confusing, and leave many variables open for the trader to decide in their own "master trading plan". And by the way... he won't share the details of his own personal master trading plan with you. What a surprise. I'd sure love to see anybody's plan that has brought them 1500 days of pure profits.

As Eso stated...yes sometimes there are a long string of losses or a few losses mingled into the winners...this has always been the main problem for me with this trading system; I would be doing fine taking signals as they come along. Then I would get two or three losses in a row and find it impossible to dig myself out of the hole for the day. This would bring trade after trade after trade trying to get positive on the day and just getting deeper and deeper in the hole. The losses are -6 and the winners are +3(ticks) so even with a high win rate (in the 80% range) I still seem to have problems on the days where we get two to three looser in a row. Has anyone been trading Waverider profitably?

As another person stated, Dave does seem to care and put in the effort to trade live in the webinar room every day but there always seems to be some discretionary trading decision that either keeps him out of a looser or two or allows him more of a target on a trade after a looser.

Anyone out there with experience trading Waverider feel free to chime in. I'll discuss with you privately if you so choose.

BTW- I've traded WR live in a sim account for 11 consecutive months.

If you insist on trading this garbage, I suggest stay in SIM forever. This way, your loss is limited to the cost of this trash.

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