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AbleSys
Posted By: TradersLog
“eASCTrend is a professional decision making program that is universal to any markets and any time charts including Stock, E-mini, Forex and Futures markets. It can be used for any trading styles: Day Trading, Swing/Position Trading, Portfolio/Position Trading, Auto Order Execution (AOE). AbleSys has successfully provided traders with powerful buy/sell signals and dynamic risk-control stops since 1994! S&C Award-Winning 1997-2005.”
By JoeTrader
On 11-17-2009 at 6:06 pm
I used this software years ago when it was hot. It was very expensive. You will never learn it with a 30-day trial. That’s where these expensive programs get you, with a short demo then you are stuck. It takes months to figure out you can’t make money with Ablesys software. It seems that this software is better than other trading software out there since it offers back-testing features. You will easily be convinced when you seen the detail dollar amount and trade-by-trade records. This is the most dangerous element of this software. In reality, the back-testing feature creates illusions. You will pay more attention to the winning trades than to the losing trades since your brains like the gains you see on the paper. Actually, the back-testing feature is the mother of all curve-fittings. The scan loop will go through all the possible strategies and only present the most profitable results in the report. Please note, you only know this optimal strategy now since you apply all strategies only to the historic data. The back-testing scan is just a toy for you to play. It has no relevance to your up-coming trading. When you use the optimal strategy to trade the up-coming market, you will lose money since the “past performance is not indicative of future result”. The chances are that the future markets are sure different from the past markets. You can prove this by applying the software picked optimal strategy from a known past test period to a period outside the test period, e.g. letting the software scan and pick the optimal strategy from, say, 1/1/2000-12/30/2006 and then applying the strategy to 1/1/2007-12/30/2008. This is called forward testing. Again and again, the strategies picked by the software will fail miserably in the forward testing. The forward testing is very time consuming. Unfortunately, the software does not offer this feature. Occasionally, you may find a positive result in the forward testing if you are lucky. The only thing that the software does very good is trend lines. I doubt anyone would want to pay such a high price for good trend line charting however.
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By Jim
On 11-17-2009 at 6:07 pm
With all the charts on their website, you will think that the software is very “powerful”. Please note, those charts were carefully selected afterwards, hence they are hindsight in nature. Only those with bigger price move(with great trend) got selected or cherry-picked. In reality, you have to follow the signals before you know the big trend. There are many head-fakes and erroneous buy or sell signals. They will cost you a lot to follow those signals with buy or sell actions. But you will never see those signals on their website. So you get the illusion that by following the signals, you can have great profit. This seems to be a “visual curve-fitting”. It costs me a lot to realize this. Just a warning.
By Mike
On 11-17-2009 at 6:09 pm
Get past the sales hype, buy on blue and sell on red, and get into the additional entry and exit rules offered to solve many of the complaints. I use the End of Bar order rather than jump the gun with the flipping of colors back and forth real time, exit on AbleSys stop, exit with trailing and intelligent trailing stop, trailing re-entry, risk control, trade 2 with auto exit 1 on trailing pullback, all increase trades and limit drawdown. I am moving to AOE mode since I trade 24 x5 because I travel a lot abroad. Read the manual, trade 1 or 2 markets until you have all the rules down and the setup the way you want. There is a lot to using the system.
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By Ramon
On 11-17-2009 at 6:10 pm
I have just finished testing Ver 7.0. Read the previous reviewers thoughts. 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. 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 to 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…. 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.
By Deucalion
On 11-17-2009 at 6:10 pm
Extensively tested this on various markets both EOD and Real Time. It lags a lot, Seems to be using the Parabolic SAR oscillator (the signal seems very similar). Poor job in sideways market (so bad that without very strict money management you portfolio will see drastic drawdowns). Excellent job in trending markets, especially in strongly trending markets. Unless you realize what you getting into and appreciate what it is telling you….pass on it. This is a mechanical system despite what is advertises. Also, the lacks the intuition that an observant trader always possesses. For that reason alone, it is always 2nd to your brain. On the flip side, it lacks the emotional slant that most people’s brain have. Bottom line – not helpful to me. If you spend the time to understand how it works and in fact do understand it’s abilities then you already have the technical aptitude to develop a system yourself. Skip It.
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By Patrick B
On 11-17-2009 at 6:11 pm
I have used both the Ablesys program and the TradeStation version. With the Tradestation version, you cannot have the porgram update inter-bar. If you do, the systme gives a lot of false signals. Ablesys claims this is a Tradestation problem, and cannot make the software work properly.
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By Nofee
On 11-17-2009 at 6:12 pm
I have been using Able Sys for two years. I trade stock indexes and find that it must be used with other techical tools. The systems value is that it keeps you in your winning trades and helps avoid unacceptable losses.In trading and most professions no one tool is going to work all the time, like a doctor using a bone saw to cure a cold. As traders we must learn to diagnose the market and use our tools accordingly.
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By Bob T
On 11-17-2009 at 6:13 pm
I subscribed to AbleSys for 1 year. I am a TradeStation user, and after about 6 months of using AbleSys, I figured out that I could replicate most of what it was doing by myself on my TradeStation charts. AbleSys will do some nice things for the average trader, BUT it is WAY overpriced for what I got out of it.
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By Chris
On 12-7-2009 at 9:27 am
It’s really very simple. No one would sell a consistently profitable system, they would trade it and make a fortune.
Would you sell a machine that accurately picked lottery numbers or would you sell it for a monthly fee.
Please… stop guessing, hoping, gambling, and learn to trade on your own with the greatest business on the planet!
By Charles Calvin
On 4-11-2010 at 2:44 pm
I use the 7.4 Ablesys daily. I am very pleased with my results. Like anything, you must learn how to drive it which may take some people longer than others. If it was easy to make money, everyone would do it.
If you don’t want to spend the time to learn, get a money manager.
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