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I watched a webinar ( AbleSys - NinjaTrader Partner Presentations - 11/14/2012 - YouTube ) few days ago, and they say they have thousands and thousands of successful subscribers. I don't know anybody among all the traders I know that has ever used this software or company. It seems just a simple volatility stop type indicator (anaSuperTrend for example).
They also claim that only AbleTrend has won Stocks & Commodities magazine readers' choice awards of triple trading systems for 16 years in a row. So, if they are in business for so long with such a success, I'm surprised I couldn't even find one entry about AbleTrend on NexusFi (formerly BMT)F in my search.
Please, let me know if you have ever tried the software and your experience (please do not reply with comments like, you will be chopped on ranging markets with such type indicators... I already know that... I want to know how they are using such simple aproach to make someone successful or this is just another BOMB! ).
They have been marketing their products aggressively the last few months and I got a little curious and decided to give the paid 1 month trial a try. It is basically a trend following system and can be applied to all chart types and time frames.
I'm not going to write a whole book about this but jump right to the conclusion:
Could you make money from using the AbleTrend software ?
Absolutely, if you are disciplined and able to follow the rules consistently - but that is the case with most systems, isn't it ?
Do you need AbleTrend to trade successfully ?
Absolutely not, I have attached two screenshots of crude oil. The first is with AbleTrend and the second is with indicators downloaded from nexusfi.com (formerly BMT).
Fido...you are correct about Able...the color bars are based on a 10 EMA moving average coloring...using +/_ slope of that EMA to color the bars. The rest of the system is based on stops of the ATR. They use a 2 and 4 ATR, and trigger on a 4 ATR for a reversal, then wait and take the next pullback to the 2 ATR then enter in the first green color bar for a long, and a red for a short. Stop follows the 2 atr by a tick of 2. Use the tick or range bars that meets your $$ mgt. of 1.0 to 1.5 lost per trading account. Hope that helps, instead of spending 280 for 6 months like I did 4-5 years ago. I like to use a higher time frame of 2.5 to 3 to trigger the entry vs. the 4 ATR...but it is really the same, just a little tighter.
I think it is a very simple trend following system based on MA crosses. The drawdown of such systems can get very large. Trend followers had a hard time last year because of volatility in their timeframe.
I replied because I liked fido's response and I agree with him. I have never used the product.
Thanks so much to everyone who posts and shares on NexusFi (formerly BMT)F! Regardring the note which said that there are downloads available on the Forum for everything to replicate what the Able Sys program does, can you point me in the right direction as to where I can find them? I tried looking in the downloads section and only found a couple of the items shown in the indicator screen shot. Thanks for your help! I am new to all this so if I am doing this post incorrectly, please let me know. Thanks!
Trader12, if you look up the book from Constance Brown, Technical Analysis for the Trading Professional....she uses the indicator not as a crossover of zero line but when set to 14.5.3.9 she looks for divergence and a slope directional change. By itself …
I have had a few questions about the BigMo indicator so let me just clarify. The BigMo is just a HMA 89 ... only difference is that the BigMo changes color with the slope. I should probably have removed it from the chart to avoid any misunderstandings.
