AbleSys/ AbleTrend 7

Hi,
Has anyone got experience with the AbleTrend system I would like to hear good or bad.

Yeah,I used it....twice.....

I have just finished testing Ver 7.0. Here are my impressions.

First ran into it via S&C magazine a couple of years back in its previous version. At that time eASCTrend was promoted by John Wang as black box setup via its Hybrid Trading method. It had clear cut rules with zero room for trader discretion. It was simple and very logical in it's approach, although I am still not sure how those signals are generated....it's looks like a trend following a breakout but sometimes it looks inconsistent.

My biggest gripe is this - the HTM method which was touted as back tested over 10years is no longer offered as the default approach. It's still there but it's been replaced subtly as the goto method by the simpler STM (non mechanical and highly discretionary approach).

The company claims this was abandoned as they have now adopted a discretionary approach to all three of entires, exits and S&R's. By dropping the mechanical approach they are subtly admitting that the mechanical model did not work (but try to get their salesman to admit that...ha ha) Going back to the discretionary approach (by it's very definition) relies on the traders technical analysis skills. Anyone serious enough to spend thousands of dollars on ABleSys and even more on the datafeed would assumably have done their TA homework before they started trading anyway (unless they plan on losing their money).

For the uninitiated, while seeing green red and blue dots seems all too easy, but the discretion that smarter traders have plus the money management and trader discipline required is not taught by the system.

Additionally, AbleSys itself says that the system does not work in a sideways market....it takes considerable practice to understand the sideways vs. trending market timeframes....that makes a big difference in the results and the software leaves itto you to get the setups correct.

So...count it all in.....there are so many qualifications before ablesys has a fighting chance of producing good results. As mentioned, in a trending market it produces good results, but was everyone a genius before the nasdaq bubble popped or before the uranium bubble popped.... So buyer beware..... Both tests on eASCTrend 6.0 and 7.0 are a waste of a whole lotta money.

Good common sense technical analysis would likely produce the same results.

Thanks for taking the time, tells me all I need to know.
I had pretty much gone off the idea and am trading with just EMA's, Stochs and RSI and managing pretty good. Tham
Thanks again.

Here is the latest on Able 7.10, after starting to charge existing customers yearly maintenance fees (including charging those customers that bought the "Deluxe" version of the software with supposedly lifetime registration) they are now charging data "service" fees. And that's for data from other vendors - eSignal, RealTick etc etc. If I have a Lifetime Deluxe Version, now I have to pay yearly maintenance fees on the software, plus data fees plus data access module fees.... nice gig they have going there.

There must be a lawsuit in here. Is there a quicker way of killing your product than gouging your existing customer base that Mr Wang now views as cash cows to be ripped of. I hope people who are reading this are aware of the implications of this before they plunk down 5-6grand for software that essentially is a white elephant.