Indicator Warehouse
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Honesty
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Quality
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Cost
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Support
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Verified Trades
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User Experience
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Summary
Indicator Warehouse is offering a variety of very interesting and innovative trading products that work exclusively on the Ninja Trader platform. Unfortunately the “Live Trading Room” is not about live trading and more about product showcasing, in short its a daily 90 minute infomercial. Indicator Warehouse is offering a birds nest of trading systems that are not definable and testable trading systems, rather they are a series of trading set-ups. Do the trading set ups actually work? Its hard to tell. The owner and the trading room moderator simply refuse to show even the tiniest morsel of prior trading success. In short, these chef’s wont eat their own cooking.
User Review
( votes)Thanks for reading today’s review of Indicator Warehouse.com
What is IndicatorWarehouse.com? Indicator Warehouse is a suite of trading products that are specifically designed to work with Ninja Trader. The suite of products includes the following stand alone indicators that can be purchased individually: 1-2-3 Wave Counter $397, Alert on Trend Line $297, Auto Trend Line Channel Tool $297, Bollinger Band Suite $297, Elliot Wave Indicator $297, Enhanced Pivot Points $297, MACD Crossover Alerts $297, Moving Average Cross Alerts $297, Overbought-Oversold Suite $297, Time and Sales Transaction Alert $297, Ultimate Moving Average $297, Universal Channels $297, Volume Pressure $77.
In addition to the stand alone indicators that can be purchased individually, there are also a group of separate trading products offered for sale, the developer describes these products as “System Add-ons”. The following is a list and cost for each: Day Ranger $395, Geiger Counter $495, Mean Renko Bars $249, Trade Journal Connector $77, Omni Bar Timer $297, Profit Finder $795, Trade Forecaster $395, Trade Manager $1195, Trail Blazer $795, Ultimate Support and Resistance Suite $595, Universal Dynamic EquiVolume Bars $249.
In addition to the stand alone indicators, and the “system add-ons”, there is also a suite of trading systems that include the following: Falcon Swing Trader, Eagle Trend Trader, and the Hawk Scalper that can be purchased for $2,995. In addition to this trifecta of bird themed trading systems, there is also a “hybrid” trading system named the Raptor Trading System that can be purchased for $1,995.
As you can read, this is quite a collection of trading products! The indicators are 13 in total and if purchased individually would cost a total of $8,108. The stand alone “system add-ons” are 11 in total and purchased individually would cost a total of $5,537. The trading systems are 2 in total and purchased individually would cost a total of $4,990.
Initial Observation
A quick search of Archive.Org reveals that IndicatorWarehouse.com came online in late 2009. The owner of the company is named Adam Halpern. The website appears to be a sort of clearing 
house of many different sorts of indicators and trading systems. In fact, I went back through the monthly logs at Archive.Org and it appears that Adam has been quite a savvy promoter of trading indicators and systems that work specifically on Ninja Trader. I attempted to culminate and curate a final list of all available indicators that Adam has been selling over the years, however its simply too vast and too complex. Many, many of these indicators and trading systems have appeared for a few months and then simply disappeared and been forgotten. It appears that Adam continually is adding and removing indicator inventory as the community of traders react to his offerings. He might have a trading system up and selling for a few months, pull it down and a few days later a new trading system pops into its place. All of this has the feel of a professional retailer that continuously is tweaking his shelf space to optimally sell the most popular items.
I would consider Adam Halpern to be a master marketer. He is very, very savvy. It is interesting to watch his marketing strategy unfold over the years. He is very subtle and very clever and clearly understands the mind of the person that consumes trading products. He very much understands that most traders never stop searching for the “holy grail” of trading products, and that traders will never, ever stop purchasing the latest and the greatest trading indicator.
One of the things that I certainly do admire about Adam is that at no time in the past, or currently, does he make any outlandish promises of profits. You will not find any fraudulent spreadsheets, no claims of making $30,000 per month, no ridiculous nonsense how a person simply buys an indicator and all of his financial problems will quickly disappear.
Does all of this mean that Adam Halpern is not the typical indicator hustler that I write about so often? Yes and No. Adam instead relies on old fashion salesmanship and has simply refused to cross the line into the realm of outrageous. However, in some instances he is quite clever in selling his product by creating a diversion away from fact, read the following snippet that was pulled from his website:
Professional traders use high speed, real-time data, and so should you.
Many “systems” and “signals” are based on historical data, and these other systems come with the U.S. Government mandated warning: “Past performance is not indicative of future performance”.
That’s a less than re-assuring warning. Who wants to deal with old data. With NinjaTrader’s DTS you work with real-time up to the second data.
If you read the above text, what exactly is Adam saying or attempting to do? In short, he is attempting to take the standard boiler plate warning that is required by the CFTC, and twist the warning into a strength by implying that his product is somehow different and the CFTC warning is not applicable. This is manipulative and very clever, it gives insight into the salesmanship of Adam. He is very good. If trading vendors were politicians, then Adam Halpern would be the equivalent of Donald Trump. Truthfully, I sort of like Donald Trump.
The Live Day Trading Room
During the month of December 2015, we recorded approximately 10 hours of of the live day trading room. The live day trading room is moderated by Eric Senft, a registered commodity trading advisor, a quick search of the NFA website reveals that Eric lives in Canada, has no registered complaints and appears to have a pretty clean record. However, a deeper search of his background reveals that he has been selling quite a few different trading products over the years. He appears to be a professional vendor, and not a professional trader.
The live day trading room is not really a live day trading room. During the review, we specifically looked for any definitive and accountable day trading that we could use to populate a spreadsheet, however we found the room to be a bit disjointed and hard to track. Mostly, what we really saw was a sort of live informercial of the Falcon, Eagle, Hawk and Raptor day trading systems.
The Falcon, Eagle, Hawk, and Raptor day trading systems ARE NOT TRADING SYSTEMS. Instead, they are a series of trading set ups (highly interpretive) that a person will see presented upon the trading charts. You cannot simply run a back test and check the statistical viability of this trading approach. A person must simply hope that the set ups do in fact work. We were hoping that the live day trading room would be a means of validation, however Eric quickly moves through the charts and quickly tosses out trade ideas. One of the things that I found really disappointing and irritating is that when Eric would call out a trading signal to go long or short, he always advises the audience that they should “use a stop that matches their individual risk profile”. This is basically just useless gibberish, why? Because what if a person is attempting to use a $50 stop loss, while another uses is $500 stop loss, how can we possibly track the validity of the trading signals that are being displayed on the screen?
I did reach out directly to Eric and Adam. I told them that I was definitely interested in purchasing $5,000 worth of trading systems and indicators, but what I really needed…I need to see if either of these guys have been able to turn a real, verifiable profit from these trading products. Is it really too much to ask to see if either of these guys can trade profitably? Unfortunately, neither could produce any proof that either is making a consistent income from trading. Unequivocally, the answer was NO. When pressed for proof, I was brushed off. The response was from Adam was,
I am not sure Indicator Warehouse is a good match for you. You appear to be looking for an automated trading system. It makes sense to ask for and expect equity curve reports and account statements for a black box system. However our trading tools are just that…tools.
Where the rubber hits the road
The biggest problem that I have with indicator salesman/hustlers is the validation of the product that they are selling. It is easy to become distracted with fancy and exciting names like “Eagle, Hawk, Falcon, Raptor”. We see the well designed graphics and incredibly enticing wording, and admittedly it draws us in. Could this be the answer? Did we finally find the holy grail? However, we have to remain focused on the “WHY”. And the “Why” is does this stand a reasonable chance of making us money? Utimately, the product must be judged on real time performance, as it currently stands there is no proof that any single person has been able to produce consistent profits with these tools.
What I like about Adam Halpern
There are several things that I like about Adam. He is not a cut from the same clothe as so many of the indicator hustlers that I write about. He makes no bold claims or outrageous statements that his indicators can predict the future. Instead, he relies upon good old fashion salesmanship. So many vendors make bold and outrageous proclamations that consistent profits are now at hand. But Adam has chosen to simply take a different route. His route appears to be finding and developing the most interesting tools that he can possibly find within the Ninja community. And once he finds something interesting to sell, he is a master at packaging and presentation. Its a clean approach. He certainly deserves credit for deciding to not be the typical trading scumbag vendor.
So what exactly is Indicator Warehouse?
At the end of the day, Indicator Warehouse is simply selling what everyone else is selling, unproven indicators with an extra helping of marketing panache. If I could come up with only a single analogy in which to draw a comparison, it would be that Adam and Indicator Warehouse is like a candy or ice cream shop full of interesting goodies. All of his indicators are colorful and have interesting names, but we really do not know whether any of this stuff provides us any sustenance.
One of my favorite day trading educators is WatchHimTrade.Com. A nice kid that really does trade. And he really does trade profitably. Every single day, every single trade you can watch him trade with his live trading account. He is a chef that is willing to eat his own cooking. With Adam Halpern and Eric Senft, they are more than willing to serve up some exciting looking dishes, but its upsetting that neither is willing to actually eat their own cooking. If their trading indicators are so great, then why not trade them themselves? It makes perfect sense that if a person truly believes in his trading product, then he would be willing to trade it with his own money. In my gut, it just feels wrong that a trading vendor is willing to sell magic trading indicators, but simply refuses to show any proof whatsoever, from themselves or any active traders, that their product does indeed perform.
Common sense from my nephew
My nephew is a pilot and he flies the big jets all over the world. Nice kid with common sense abound. Over Christmas, we talked about the aviation industry and how every single facet in the design of a flight system must be tested and proven. Before a life is risked by taking to the air, the plane must be proofed and test piloted. The engineers have to thoroughly test the plane in every 
imaginable situation, and provide a back up. The test pilots then test the theory of the engineers. If everything checks out, then the plane is ready for paying customers. What amazes me is how so many people will simply throw their life savings, hopes and dreams into a magic indicator without doing any sort of testing and proving. Of course, the best proof is when the trading vendor that designs a product is willing to show in real time that his product does indeed perform, but with the guys at Indicator Warehouse, they simply refuse to fly their own plane. Yet, they have no problem letting our test their ideas with our own money. But their money? Not a chance!
My nephew asked me, “how is it possible that people look at these squiggly lines on a screen and simply bet their money without any proof?” My response to him is that he would be amazed that people do in fact spend upwards of hundreds of thousands of dollars in a multitude of trading products…all without any proof of performance. All of this sort of brings a quote to mind by Mark Twain, “It ain’t what you don’t know that gets you into trouble. Its what you know for sure that just ain’t so”. Many people that purchase trading products get sucked into the sales pitch, and they just know for sure that this magic trading indicator is the one that will finally deliver! And so, they gallantly board that indicator airplane (which the guy that built the plane refuses to fly himself) hoping to finally reach that magical destiny. You know that destiny, that magical place where profits jump off the screen and into our trading account. And once those profits start flowing into our trading account, then we can finally tell the bossman that he can take this job and shove it.
Unfortunately, once the person spends his $3,000 and starts eating away at his $15,000 trading account, then he starts to question whether these magic trading indicators really work. Once the trading account balance hits $10k, he starts to get worried but still he soldiers on, hoping things turn around quickly and those profits start rolling in. He starts attending the “Live Trading Room” that is moderated by Eric. He figures that he will simply copy Eric’s trades and the profits will start cranking. But then he discovers that Eric is really just running a daily infomercial, and that he is not really trading. The account balance is now down to $6k and there is no possible way that the wife can find out about this debacle. You promised her that these magic indicators would be the last that would ever be needed, but it appears that something is quite wrong. What is wrong? Quite simply, the person that purchased the magic trading indicators never took the time to “proof the concept”.
The solution is simple. Stop purchasing magic trading indicators, unless the person selling the magic trading indicators is able to irrevocably demonstrate that the magic trading indicators can make money in real time.
Wrapping Things Up
I have a few trading educators that I like. The best are the ones that demonstrate will real money. One of my favorites is that young puppy at WatchHimTrade. A young kid that demonstrates his skill on a daily basis. Does he use any magic trading indicators? No. In fact, I have been watching him trade for a few months and he keeps things so simple and his approach so basic, that I almost feel sorry that I ever felt that over-complication was somehow congruent to trading success. This is an important lesson for anyone looking to purchase a trading product…stop wasting time, effort and treasure on trading products where the vendor flat refuses to prove that their trading products actually work.
Well that’s it for today. Thanks for reading. Don’t forget to leave your comments below.
One last thing…Adam Halpern, when you read this, you are going to probably be pissed off about this review. Truth be told, I really admire your marketing efforts. You manage to sell a lot of product on nearly zero proof of concept. While your competition has gotten dirty, you have kept things really clean. Congratulations. However, the one thing that your product really needs is someone, anyone to trade it live and trade it daily. Once that happens, then I will be back to hopefully write a more positive review.
I’m extremely interested in their Geiger Counter that measures the difference in Bids and Ask through the time and sales.
I can see how the other stuff may be a “scam” but how could this be? It shows general market sentiment which I feel could be a great tool?
thank you!! you saved me money! i was almost close to buying the Raptor!! thanks again Sir
After a week hiatus, they are at it again, conveniently left off a $300 losing trade from Tradervue on 7/30. It really is time to change your Honesty rating!
Emmitt, Please revisit your honesty rating for IW. They are liars. Case in point: Monday June 25, 2018. On the video we watch them take a 26 point loser with 3 contracts on the NQ. However on Tradervue they conveniently left that day off! Your very tough on rating these companies so if you give a high honesty rating folks trust you. Thanks, David
Emmitt, I believe it is time for an update for Indicator Warehouse. Whatever honesty you found has all but disappeared. I watch lots of their daily videos and Erich losses money on many days and often the losses are 3 to 4 times the winning days. The dishonesty is what he posts on Tradevue. He either doesn’t include losers and/or skips days. He has used Tradervue results to show how he almost never losses money, which of course is a sham. I have sent Adam emails to “clear this up” and he responds with “I do not believe this system is for you”. It is because he is such a good marketer that you should remove the 4 star rating for honesty. Keep up the good work!
David
The other guy is ok but Adam Halpern reminds me of George Stanza, .. arrogant in his emails (doesn’t “care how good a system is” (possibly better than yours)) and, in all fairness, i had unsubbed, when was getting them i felt they/he was sending them to my personal address so ..
I should add that .. in-between (even tho i had/unsubbed) the emails were still coming through; even after blocked ..red flag ..
I bought the software. Plain waste of money. Over promise and again over promise.
Useless indicators, very overpriced. Bad service in general
I used to be a developer for indicatorwarehouse.com i retracted my services as i was told by Adam “paternally” No one really wins in trading we are selling pick axes to people in the gold rush, they buy one at a cheap enough price and based on numbers most of them wont ask for a refund instead they will come back to try out another one which is why we price it so… so they don’t need a refund and they keep coming back – when you boil a frog you start off with the heat slow and overtime you increase it slowly and then its too late too escape – so what he meant was you get $1500 out of them over time with $95 indicators”- i only wish i am lying.. did you see the legal notice – on his website “for entertainment purposes only”… then man is a marketing whiz and bald face liar… his so called trade coach has a bit of paper…wow.. no trade statements… i guess he’s not as bad as Matt a broker in the USA who told me once “you got to hit them as hard as you can for as much as you can before they start losing and stop spending 80% of the client accounts are dormant for futures…” Atleast NT is more in control of brokerage now – but vendors… 99% fake?
Great comment.
“for entertainment purposes only”
That might be the most honest disclosure I have seen . Most say hypothetical results which is a bold face lie. They are complete made up fantasy results.
Very rare to see this kind of disclosure behind the vendor curtain. Almost as rare as a retail trader actually trading for a living. Of confirms nagging suspicions. A slowly boiling frog and most don’t bother with refunds, good analogies. (not to mention most don’t report how they were duped to forums and even ts) . Did this “Matt” happen to be connected to a broker shilled on compromised fioforum? Well Matt Davio needs exposure on ts too.
wow!!
Speaking of POS scam artists…I think Emmett takes the cake. Nice Job Emmett on this rave review of just how trustworthy and honest your endorsements are…who’d listen to a fraudulent con artist such as yourself…just idiots who can’t think for themselves.
http://tradingschools.info/2015/08/05/a-review-of-emmett-moore/
http://tradingschools.info/2015/08/05/a-review-of-emmett-moore/
This would be a great time to “grind the old ax” for me as I worked with Adam as an affiliate for IW for almost 6 years and he let me go. Although I have never been happy how it all went down and it happened right before Christmas to boot, the gang at IW doesn’t deserve the wrap they’re getting here. One thing I’ll say about anyone from the IW team is that they don’t make promises that they cannot keep and they only guarantee the software will operate with NinjaTrader as it’s supposed to. The problem with all the folks I see here that post on this site is that they are looking for a guarantee in a business where guarantees CANNOT be made.
If you want to have a REAL conversation about how tough day trading REALLY is, please call Adam and/or Eich Senft, these guys are so “real” when it comes to day trading that if you’re wanting to become a trader you may rethink your options. They tell it exactly like it is and they won’t pull any punches.
I was so angry when Adam let me go, but the more time I spend away from “the business” and the angry people that occupy it I am thankful I am gone. Talking to negative people, angry people, and f$%^ing idiots that think you can turn $5K into $5M in one week is mentally draining. Adam, if you see this: I owe you for getting me out. I read your responses in that “only the negative seems to get attention”; that’s no way to live….at least for me.
Ray
Thanks for sharing Ray. My interactions with Adam have been positive. Although we agree to disagree on a few things, but I have nothing bad to say about him. One of the few marketers that does not cross the line.
It’s all good Emmett, when it come to this business I think EVERYONE will disagree ;). I appreciate what you do and I respect your opinions.
Ray
thanks !!!
Sometimes I wonder if there are “fan” traders who like daytrading so much they “collect” good looking indicators much like connoisseurs collect nice luxury sundries items from stores like William Sonoma where IW could be considered the WS of the indicator shop world.
Here it goes again. Another webinar today. “space is limited!”. oh really. ninja ecosystem usually takes all visitors.
http://ninjatraderecosystem.com/PartnerSpotlight/PartnerSpotlight_Indicator_Warehouse_3_16_16.php
I have no idea about the systems but i actually own a few of the IW indicators and the thing I like about them is they are solid-no bugs.
I have spent a few thousand getting indicators and addons programmed and it takes a lot of time to iron out the wrinkles. IWs come ready to run out of the box..
This is a genuine comment (emmett knows me for over a year from my email address)
Question: would I but one of the expensive systems on the site? No- not without an extensive trial and even then I am doubtful ..
Having been doing this now for over five years and put on a few layers of thick skin, I’ve come to the conclusion there is no way to create a perfect product/service that will please everyone. What I find sad and somewhat shameful is that apparently only negative news gets any air time.
However, I find solace in hearing from customers that DO get value from what we offer. For, example, this came into my inbox today…
“Don’t listen to the nay sayers. It’s always the same story…they all want you to trade your own live accounts, but needless to say that this is impossible while moderating a trade room. Of course Erich trades in SIM, but at least he IS taking live trades, and of course not every trade works out, but that’s trading! I really learned a lot in his room, and to be honest, even the ‘simple’ DTS needs a lot of practice in order to read everything correctly and in market context, but IMHO this applies to ANY trading system or method. And of course there is ALWAYS room for personal interpretation of signals as well, and not every system or method is for everyone.
What I can say is this, I can show you a ‘proven’ track record of DTS trades within my current TST Combine [TopStep Trader], which will finally lead to a funded account or at least the participation in the Funded Trader Preparation.
There are so many trading systems and methods out there in the industry, and since I purchased a bunch of trading software and now solely using DTS from the beginning, I can state that there are a lot more systems out there which perform much worse or even not at all.”
Best,
Achim
P.S. I know you folks will think these are all fabricated comments, but THEY ARE NOT.
https://www.indicatorwarehouse.com/reviews-testimonials/
And what does Achim’s comment prove? Exactly what the nay sayers have been saying. You don’t trade live. You don’t have enough confidence in your own product to trade it. Where’s the verified track record? Where are Achim’s trading statements? There are simple steps to take to shut down the detractors but you refuse to take them.
You certainly don’t need to trade a “live” account to show you are good at trading. Chart trader or DOM is plenty sufficient. Try trading your live account and moderating a live trade room – bad idea.
@ Chris are you seriously asking people to believe that trading sim and trading live are comparable? When real money is at stake the decision process is different and that affects your trading and the outcome. True, if you have a purely mechanical, totally non-discretionary system you’ll place a trade no matter what but that’s not what Achim is describing.
Could you also explain how it’s possible to trade a sim account and moderate a room but not possible to trade a live account and moderate a room. Aren’t the physical processes exactly the same?
who in the right mind would sell indicator for $300 if it made money all day…there is no such a thing…even the vendor says it himself !! ” Unfortunately, the perfect trading vendor/service you all pursue DOES NOT exist.”
what is there to argue about?
A couple other things, thru massive sweat & tears I have become a successful day trader. Over time, I have reduced the amount of crap on my charts. I use a small combination of stock ninjatrader & purchased indicators. Volume, ocillation support/resistance. Less is more. I have also spent THOUSANDS of hours reviewing & tracking down legitimate free tweeters & other sources of daily commentary to give me a little insight. Its out there, but it takes a LOT of effort. Its not plug & play, its not for people who want quick cash, you have to love it.
Honestly, the whining that goes on about indicators people have purchased & dont like is getting absurd. I think its pretty much established that indicators do one thing, INDICATE past price movement in one fashion or another. I must say, the breadth of indicators available and the look and feel different developers can create is quite astonishing. However, the constant crying is dumb, no one forces you to buy anything. Most vendors provide some level of free trial, if they dont avoid them like the plague. As stated ad nauseum over many reviews, there are no holy grails. Trading will always require interpretation, whether using an indicator or viewing only price action, support/resistance, volume, etc. If you think shelling out thousands for an indicator will in and of itself make you succesful, your in for a rude surprise. Stop crying & take responsibility for your actions. If your unsuccessful, look in the mirror for the culprit.
Hello, are you going to do some nadex reviews?
I wish I would have had this review a couple of weeks ago, it would have saved me some money and aggravation. I have to pony-up and tell you guys that I bit on this and I should have known better. I am now a defector. I purchased the indicators/system at a reduced price and able to make 3 payments…over 60 days. On the bright side, I am only out 1/3 the cost but that will be challenged. Generally, these are indeed indicators and are subject to the same problems that affect all indicators and in this case giving off too many signals. It takes a lot of individual discernment to know which are good and which are not.
Emmett, you are right-on with your evaluation but perhaps a bit to generous with your conclusion and rating. Adam is a nice fellow but smoooooth and engages in doublespeak. A few examples are in order from his posts above.
“Bottom line… our systems (nor any other vendor’s) are not magical. The “results” language is all a bunch of marketing fluff. ”
I have a number of emails that I guess were just the result of the fluff he speaks of. Don’t be fooled, he uses it just as much as the next “vendor.” Look at the unverified results from these alleged profit runs and then tell me that they are not made to appear magical!
“The reason our systems are so popular is because they are well designed (clean and easy to read), we provide excellent education (extensive video training library), and we provide on-going support (free trade room) and community (private owner only user groups).”
Again, this is only partially true but really it is a bit disingenuous when what really attracts people are the claims and promises present in his marketing program such as:
*the last system you will ever buy,
*handles any kind of market-ranging, volatile and trending,
*a strategy that scans for the best trades,
*easy to interpret clean signals (notwithstanding the fact that they are for the most part subject to wide interpretation).
This is exactly the problem relying on any indicator/s alone. These are indicators-just combined in an attempt to harness the market. Prettier than most but not exactly a novel idea.
Along these same lines is how the education is laced with warnings that you need to back-test to know the best signals, best stops as well as how to structure your stops programs (all in all out vs runners, etc). Wow, we think we are buying a system that was known and proven and we need to back-test???? A tacit admission that these are indicators, after all, wouldn’t you think if you paid $3,000.00 for this alleged system/strategy that this would already be done? All of this without the warnings of over-optimization etc. Of course, for a mere $795.00 add-on you can automate your back-testing. I can’t even imagine the busy work to do it all manually.
More could be stated about the wide stops but suffice to say that I can see real problems with stops as initially advised.
Again, these are just a combination of indicators that plant arrows on your chart. Just like any indicator that does that-the trader must view it in the context of the market price action, support and resistance and other factors reasonably seasoned traders will know to be true. Just like arrows for a simple moving average crossover, some will be good and some will get your head handed to you. And finally:
“Good luck on your Quest for the Holy Grail!”
More doublespeek, we all know it does not exist, BUT, Vendors must stop marketing their wares as though it does!
Excellent comment. My thoughts exactly. Adam is one hell of a marketer.
The problem that I really had with his “system” is that its not a system. A system should have a performance report, and the neighborhood of variables should also be testable. To me, a system would be “Buy on Monday morning if Friday is a down day. And close the position at 11 am. Use a $500 stop loss”. This is a system. It can be tested for validity.
thanks for a great review daniel
Total rip-off, I got impressed by the marketing as a newbie in the past, don’t put your hard earned money here, for their overpriced stuff, this is just marketing. I spent hundreds of dollars for nothing, just being stupid and impressed by the marketing
I wish I would have had this review a couple of weeks ago, it would have saved me some money and aggravation. I have to pony-up and tell you guys that I bit on this and I should have known better. I am now a defector. I purchased the indicators/system at a reduced price and able to make 3 payments…over 60 days. On the bright side, I am only out 1/3 the cost but that will be challenged. Generally, these are indeed indicators and are subject to the same problems that affect all indicators, giving off too many signals. It takes a lot of individual discernment to know which are good and which are not. The trading room videos clearly shows this and unless trading the “left side of the chart” show the obvious difficulty.
Emmett, you are right-on with your evaluation but perhaps a bit to generous with your conclusion and rating. Adam is a nice fellow but smoooooth and engages in doublespeak. A few examples are in order from his posts above.
“Bottom line… our systems (nor any other vendor’s) are not magical. The “results” language is all a bunch of marketing fluff. ”
I have a number of emails that I guess were just the result of the fluff he speaks of. Don’t be fooled, he uses it just as much as the next “vendor.” Look at the unverified results from these alleged profit runs and then tell me that they are not made to appear magical!
“The reason our systems are so popular is because they are well designed (clean and easy to read), we provide excellent education (extensive video training library), and we provide on-going support (free trade room) and community (private owner only user groups).”
Again, this is mildly true, but really it is a bit disingenuous when what really attracts people are the claims and promises present in his marketing program such as:
*the last system you will ever buy,
*handles any kind of market-ranging, volatile and trending,
*a strategy that scans for the best trades,
*easy to interpret clean signals (notwithstanding the fact that they are for the most part subject to wide interpretation).
This is exactly the problem relying on any indicator/s alone. These are indicators-just combined in an attempt to harness the market. Prettier than most but not exactly a novel idea.
Along these same lines is how the education is laced with warnings that you need to back-test to know the best signals, best stops as well as how to structure your stops programs (all in all out vs runners, etc). Wow, we think we are buying a system that was known and proven and we need to back-test???? A tacit admission that these are indicators, after all, wouldn’t you think if you paid $3,000.00 for this alleged system/strategy that this would already be done? All of this without the warnings of over-optimization etc. Of course, for a mere $795.00 add-on you can automate your back-testing. I can’t even imagine the busy work to do it all manually.
More could be stated about the wide stops but suffice to say that I can see real problems with stops as initially advised.
Again, these are just a combination of indicators that plant arrows on your chart. Just like any indicator that does that-the trader must view it in the context of the market price action, support and resistance and other factors reasonably seasoned traders will know to be true. Just like arrows for a simple moving average crossover, some will be good and some will get your head handed to you. And finally:
“Good luck on your Quest for the Holy Grail!”
More doublespeek, we all know it does not exist, BUT, Vendors must stop marketing their wares as though it does!
I get so many of these ridiculous emails, but just when I was going to hit the delete button, I thought it was perfect for this thread. For all those looking for that Holly Grail indicator.
http://screencast.com/t/wTly0iZu3l
VWAP Automation Robot. How could this not be a money maker!! You do not even have to trade; it will do it all for you. I think you just have to input how much money you want to make. Heck why do they need to show any proof this is not a piece of junk (which I am 100% sure it is) , just open your wallet and buy!! What can I say except, “A Fool is Born Every Minute”
It’s sad that so many fall for this stuff.
Whats this got to do with Indicator Warehouse? Not defending them but lets be fair
Adam you have now shown yourself to be exactly what people should avoid.
The indicators you are trying to sell is the equivalent of me wanting to buy a house and you convincing me into buying a brick and cement.
I use 2 indicators in my trading and they are both used to confirm or not confirm an entry. They do not tell me whether to enter or exit a trade — only Price can do that. Indicators don’t make you money, only Price can make you money. Learn to read the charts with no indicators, watch the HH’s and LL’s and the overall movement of price. Do this for several weeks and you’ll be amazed at h ow much you can learn without any indicators. If you don’t believe that, go find an older market maker who worked on the exchange before computers and hi-tech platforms. What do you think they watched?
For the life of me I do not know why people think all they need to be successful is some magically indicator. Especially ones where the vendor selling the indicators shows no proof they can be used to trade profitable. I can guaranty you all the indicators you need to be successful you have with your trading platform. But if you have to have some magical indicator join Big Mike (I think future.io now) for $100 (or whatever the current Elite membership is) and get all their indicators you want. But maybe you only feel like it is a good indicator if you pay big bucks for it. You do not need to spend 100s of dollars on indicators.
The exception to this is if you make your own or hire someone to make some indicator that is helpful based on something you see in the market.
I day trade profitable and have very few indicators and they are for information not Holly Grail buy or sell indicators. I will tell you one of my indicators. I have the Average True Range up. I like to know how much the instrument I am trading moves per day on average.
I bet there is an inverse relationship to the amount of money traders spend on indicators .vs there profitability.
To me this is as silly as the person looking for a better bar chart pattern. I can not use Renko; I need the new improved Better Better Better Super Best Renko bar. Really!!!! let me tell you a secret the person who was trading Renko losing money is going to lose money trading the new improved Better Better Better Super Best Renko bar.
All these things are supplementary. Trading profitably has nothing to do with any of this type of crap.
I noticed the website http://www.indicatorwarehouse.net shows profitable trading room results. Why would Eric stop doing these room results?
Ok folks… this is my last post. I recognize there is a desire vilify trading vendors. If you feel to need to eviscerate me and company, then so be it. Unfortunately, the perfect trading vendor/service you all pursue DOES NOT exist.
Regarding proof statements, as we state on http://www.indicatorwarehouse.net, we are not big believers in using results for marketing purposes. In the past, we used to address this by shutting down the members only trade room which is directed more toward training during live trading sessions, and instead spending a few months focusing 100% on growing account. Unlike hypothetical look back results, we spent this time recording every trading session and making the results of the day and the live recording session available to the general public. While this method was useful for marketing purposes, for the very reasons you commented above, we did not feel it did justice to our software and service offerings.
Bottom line… our systems (nor any other vendor’s) are not magical. The “results” language is all a bunch of marketing fluff. The reason our systems are so popular is because they are well designed (clean and easy to read), we provide excellent education (extensive video training library), and we provide on-going support (free trade room) and community (private owner only user groups).
For the last year, we have found it more informative and more effective to share a recording of the trading activity from our members only trade room on a daily basis on our YouTube channel.
Good luck on your Quest for the Holy Grail!
“we are not big believers in using results for marketing purposes.” Translation “our expensive indicators suck and will not produce a profit for you therefore we have no results that we want to share with you. But if I dance around this issue of providing absolutely no proof whatsoever that my product will improve your trading maybe I’ll reel in a few more suckers.”
Emmett,
I just read your review of Indicator Warehouse. Contrary to your prediction, I am not angry at all. I appreciate you recognizing we are seriously trying to be a different kind of vendor… a better kind!
Regards,
Adam Halpern
Indicator Warehouse, President
[I attempted to respond via this website. But, it would not allow me to post. So, instead I sent an email to moore.emmett@gmail.com. Hopefully it will reach you.]
BTW, please feel free to add my email reply to your comments section.
-Adam
Thanks for reaching out Adam. Your the only indicator person that has gotten better than a single star. Which is saying a lot. Your marketing is excellent. The best I have seen. The tracking pixel inside the email, with the auto responder sending out the special offer was really impressive. And you get all of this done without crossing the line and making unrealistic promises. I would of given a full five stars, but I could not validate Eric’s trades.
Some of your addons are cutting edge and obviously took alot of effort to develop. The best Ninja developer…by far. Lots of things to really like. The last mile is getting someone to take this stuff onto the playing field and prove it works at some level. Actually, would love to try it out myself.
Emmett,
I hope I did not come across as defensive. I read your other reviews and I think you are spot for many of them. I often feel that my company suffers from the sins of my competitors.
I am always open to constructive criticism. It’s how I continue to to build products and services that people actually want and need.
Regarding this comment… “The last mile is getting someone to take this stuff onto the playing field and prove it works at some level. Actually, would love to try it out myself.”
This is not for lack of trying! 😉
I don’t have to tell you how hard it is to find someone who has the proper temperament and skills to be a successful trader… no matter what tools they use. Add to that the necessary ability to ‘trade out loud’ in a live room while being barraged with questions from all the room participants.
Instead, I opted to hire Erich Senft. He is a gifted teacher and incredibly patient at helping our customers master their tools. I believe that if people invest in our software, they deserve the proper training to learn how to use them. This is why we do not charge any on-going fees for lifetime access to the training/trading room. I think fee based rooms create a conflict of interest. I know if my business model relied on trade room fees I would feel unwanted pressure to keep customers coming back for more. With our model, the goal is STOP people from sucking from the trade room teet. Instead, the goal is to help people become self-directed traders that learn to use our tools and then leave the Nest.
As you know, indicators are nothing more than the software equivalent of hammers, chisels, and saws. Those tools in the hands of a neophyte often leads to a bloody disaster. However, in the hands of skilled craftsman, those tools enable the artisan to more easily and quickly create beautiful works of art.
Good software will NEVER do the work for you… only make the work easier to do.
My customers all know I have never claimed to be an active trader. Instead, I have created a solid trading software business that offers hopefully brings real value to our community.
My skill is creating great teams of talented people (programmers, educators) and translating their skills into quality software products.
Keep up the great work on this blog. I actually thought of doing something similar. But, for “popular” trading forums and blogs. Who knows… maybe someday I will write a review of your site. 😉
you keep saying it is just another tool, but your ‘teacher’ and his ‘training’ is never to be verified with real statements. So what good is this ‘tool’? At the end, it is just another scammer with some coding skills, nothing more. I hope to see you in jail in near future.
And your blog has some interesting and useful posts.
Guy talked eloquently Around the whole thing and still was not willing to prove it. It’s the same old model I’ll sell you my stuff and then I’ll help educate you and you won’t be dependent on a room and you can prove it for yourself after you bought it. He just said it more gracefully but it’s the same old model I’d rather have Bob who puts his Dom up. Warts and all. I’m tired of all the brilliant people are going to educate you but never prove anything and take your money. emmett a 100% stick to the fact that they have to prove it and your nephew is right.
Adam, did you read the review? It wasn’t an endorsement. Basically you’re no better than any scammy vendor that Emmett reviews other than you don’t cross the line in your marketing. You market something that you don’t even trade yourself and the guy you did hire basically does a commercial the whole time according to Emmett. And you won’t produce any results because either there aren’t any or they’re bad.
And to top it all off you try to comment on it in a way that actually turns it into a positive review when it isn’t. Bottom line of the review: you suck like most of the others. Quit trying to put a positive spin on it.
Way to ruin a good business EM lol
Oh well just flip that one and start again…
Ninja trader platform must be pretty useless if a user can’t create those pretty common alerts and need to be coded lol good scam NT too
Indeed, his multi tools are just for marketing and sale trap to those are looking for magical tools. I do hope more traders to be more aware.