We have encountered an interesting website called IndicatorWarehouse.com. The site offers a set of trading tools which are exclusively designed for the Ninja Trader platform.
There are also a wide range of stand-alone indicators which should be purchased individually if you would like to. These include Alert on Trend Line $297, Elliot Wave Indicator $297, 1-2-3 Wave Counter $397, Auto Trend Line Channel Tool $297, Enhanced Pivot Points $297, Moving Average Cross Alerts $297, Time and Sales Transaction Alert $297, Volume Pressure $77 etc.
Besides these products which can be purchased as a stand-alone product. Indicator Warehouse also offers separate trading products too. According to this site, these products are known as ”system add-on”.
The following information will highlight some of those products and their respective costs too.
These include Mean Renko Bars $249, Geiger Counter $495, Trail Blazer $795, Universal Dynamic EquiVolume Bars $249, Omni Bar Timer $297, Trade Journal Connector $77 and Day Ranger $395.
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Already we have a variety of trading indicators and ”system add-ons” too. The list doesn’t end here since the Indicator Warehouse offers a couple more trading systems to complete their list of products. These are the most expensive products that Indicator Warehouse is currently selling as one trading system goes for a whooping $2995. These include Hawk Scalper, Eagle Trend Trader, and Falcon Swing Trader.
Still we are not done yet. The Indicator Warehouse websites doesn’t want to end it with their bird-themed trading systems because they feel that they are somehow entitled to sell you more magic. Because of that, they have opted to include one final trading system which they call the Raptor Trading. The cost of this trading system is $1995.
But does it matter whether or not Indicator Warehouse is offering a variety of all kinds of products? Let’s find out in this review.
First of all, thank you for taking time to read this Indicator Warehouse review. As you can see, this website has all kinds of indicators for all types of trading. If you want to use them on stocks, no problem. You can do so. If you want to use them on your Forex charts, that’s fine too.
So far, the website has put together a collection of 13 trading indicators. If you purchased them individually, you would spend more than $8,000 on these products.
On the other hand, the standalone products, if purchased individually and separately would set you back a whooping $5,000 in total.
And the final bit of it is the trading systems which this website is currently selling. There are two of them. If purchased separately, this would set you back $4,999.
We managed to spend some time participating in their ‘live’ day trading room. This day trading room is moderated by someone called Eric Senft. When we learned this fact, we checked him out on the NFA website where we found details about him.
First of all, Eric Senft is a registered commodity trading advisor. He lives in Canada and has never made his clients angry – it seems. This is due to the fact that he had a pretty clean record.
A thorough search into his background reveals that he has been actively selling trading products for a while now. This gives us the impression that Eric Senft is a professional vendor as opposed to a professional trader, which is disturbing indeed.
When we participated in the so-called live day trading room, we looked out for specific things like accountability to help with the population of the spreadsheet.
Apparently, this trading room was a little bit disjointed. This made it difficult for us to track their activities properly. If asked to summarize what we saw in one sentence, we would say that we saw some sort of a live advertisement for the Eagle, Hawk, Falcon and Raptor trading systems.
However, these trading systems are really not TRADING SYSTEMS. They are a series of highly interpretive trade setups which will be presented on your chart while you are looking to enter a market. This means that there is no way you can validate their statistical viability or even run back-test to ascertain their efficacy. In short, we do not know the trading approach that these trade setups rely on. Instead, one has to buy and hope that they will work.
It appears that the so-called live day trading room was meant to offer some sort of validation on these tools. The problem is that Eric was skimming through the charts, thus tossing trade ideas too quickly for the audience to catch up.
We also found it disturbing that the moderator of this trading room at Indicator Warehouse was asking the audience to set stops according to their risk profiles.
In our opinion, this is just gibberish. This is because some people will set their stops at $100 while others will end up setting theirs at $400 for example. In this case, it becomes impossible to validate the trade setup. There is no way to validate the trade signals because traders are not operating on the same page of the book.
We had to contact this guy and propose a ‘business deal’. We explained that we needed to purchase their trading systems and indicators for a total cost of $5,000 and that first, we needed to know if they had used these trading systems to make real, verifiable profits.
Were we asking too much from this guy? Unfortunately, Eric could not prove that these trading systems and indicators were being used to make money in the market. They could not produce the slightest proof of profit.
So when we pressed hard to get a satisfactory response, Eric and his other co-moderator, Adam brushed us off because we came across as nagging. What did they say?
”Indicator Warehouse is probably not a good match for you. It looks like you are searching for an automated trading system. You expect to see equity curve reports or even trading statements for a black box system. However, for the trading systems which we are using at Indicator Warehouse, these are purely tools.”
If the above response is anything to go by, then we can conclude that these people are salesmen who only make their monies from selling indicators. They first excite you with cool names so that you can get distracted.
The website is fine-tuned in such a way that it is appealing to the eye. The wording is excellent, and the graphic is superb. This is why it draws in the unsophisticated investor.
So, did we find the holy grail of trading that we were looking for at Indicator Warehouse? The answer is no. But we have to focus on Why.
Do we stand a reasonable chance of making money with these trading systems, even if it’s just a nickel?
The ultimate thing here is that any trading product must only be judged based on real trading performance. But as it currently stands now, the owners of Indicator Warehouse have not been able to prove that their tools make money for the ordinary trader.
Indicator Warehouse is a property that is run by indicator hustlers. They are good at selling as opposed to trading their ideas. Believe them at your own peril. Otherwise, use these trading systems if you don’t want to lose your money.
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