Quick Scans: The Wizard by Leslie N. Masonson
Following the trend and using support & resistance are two of the bedrocks of successful investing. These variables have been incorporated into the program using an algorithm to provide actionable buy & sell signals in four markets. Individuals searching for a nonemotional, time-tested, and profitable approach to investing or trading will find that TheWizard provides an easy-to-learn methodology that works well while providing a high percentage of winning trades. Moreover, the program provides daily and weekly historical data in calendar format for the market, as a whole and for each security over many years, so that the investor can see all past buy & sell signals.
TheWizard was initially reviewed in the June 2011 issue of Stocks & Commodities as an end-of-day offering. The latest program enhancement provides self-directed daytraders, swing traders, and investors with real-time intraday buy & sell signals using five fixed time frames (15, 30, 60, 120, and 240 minutes). Coverage includes 528 active stocks, 30 most active and liquid exchange traded funds (ETFs), and 29 forex pairs. Daily and weekly signals are also accessible on 9,272 stocks, 883 ETFs, 36 futures contracts, and 29 forex pairs. Daily updates are available about 7 pm ET, while weekly updates are provided on Friday by 9 pm ET.
The program provides the highest-probability trades in all four markets using an identical complex algorithm based solely on price. It is composed of a number of proprietary indicators that identifies the trend and key support and resistance levels. There are no technical or fundamental indicators used in the algorithm.
Over the course of several weeks, I tracked the percentage of winning trades among all four markets and found that they consistently ranged between 75% and 100% (with a cluster around 85% to 95%), where the average profit of winning trades was much greater than the average loss of the losing trades.