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wizetrade chat?

I am completely new to self investing & considering buying Wizetrade. I would like to communicate with others who both like and dislike the system to help with my decision. Specifics would be what really are the hidden costs? Once purchased does that one training session afterwards really give you enough confidence? Do you think it is truly possible to understand use in the short trial period allowed before money back guarantee? Can you truly return it? Does their phone support get impatient with you if you are really new to it and have alot of questions? Do you recommend Scott Trade? What are their costs, upfront and hidden? How long have you used the software? I initially plan on investing about 5,ooo in various stocks, approx how long each day do you think I would need to have available to work the portfolios and keep a good watchful eye on it? ANY other advice would be GREATLY APPRECIATED....don't be shy! Thanks so much!!!!!

Public Comments

  1. Take a long look here before buying http://elitetrader.com/vb/showthread.php?threadid=66879 If you are new to investing, start with something free... I use Stockwiz. It's completely programmable, which is what I wanted, but the programming language is .... primitive. But it's free. http://www.stockwiz.com/ Caveat: - I am still using version 3, although there is a version 4 available - You still need a service to get your daily stockquotes, which is most likely *not* free
  2. I learned through Investools.com. It gave me the confidence I needed to be a day trader. I don't know about Wizetrade. I use etrade for online trades. I suggest you look at several training courses. You can purchase a self paced home course, one-on-one coach, seminars, or whatever additional support you need. Regardless of the educational program, you must educate yourself in economics and markets. Go to NYSE.com and nasdaq.com to learn about the markets. It's free and very educational. Then visit incrediblecharts.com to learn the language of trading. If you are going to invest $5,000, I suggest you look for stock between $5 to 15 per share. You can buy 500 to 1000 shares and additional shares on margin. Every point the stock goes up, you make $100 per 100 shares regardless of the price of the stock - so why buy a $50 stock when you don't need to. How you search for stocks is what you must learn. Good fundamentals and technical analysis are essential. A good company continues to make money every quarter so research each company carefully. I hope this helps.
  3. I have heard the term Wiztrade. But cannot add much to your understanding. I am looking at 4X Made Easy for Foreign Currency Exchange Trading at a cost of $3,000 plus $100 mo ongoing. Do you have any experience or opinion on 4x Made Easy that I could benefit from. Was 4X something you considered before purchasing Wiztrade. Maybe I should be looking at Wiztrade as well. Thanks.
  4. STAY AWAY FROM WIZETRADE and all of their products including their 4X version. Foreign Exchange currency trading is extremely complicated and its huge! My partner and I both purchased Wizetrade 3+ years ago and could have done just as well throwing darts at a stock list. Their system works on old news so its too late in most cases by the time you get in. I stopped using it a year ago down 25%. Put the $3 - $5 grand you'll spend on WT in a good dividend paying stock like CHI (paying 9.2%) IAlso take a look at www.philsgang.com and www.vectorvest.com Neither of these require up-front costs and the monthly fees are reasonable. Last year my Vector Vest portfolio was up 71% and year to date up 43%.
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