You’ve probably setup a multi-monitor computer system and you’re ready to start your day trading career, but, “uh oh” it turns out that you need some expensive software that
will help you analyze the market and make the proper decisions, right? Well, you might not end up spending all that much if you listen to these guys, then you do not need to spend thousands of dollars. They offer their software for under $500, with payment plans available. But is it worth the money and will it do what some of the more well known software will do? In this article we’re going to analyze Decision Bar and try to determine where it performs and where it lacks.
So here’s the Decision Bar claim- they claim that they aren’t a secret system or robot that’s going to help you generate money, but rather they claim they have created a trading tool that has helped other traders be successful when they were struggling with the decision making process. The idea behind Decision Bar is to help educate you and give you the tools to make proper picks. Part of this training process is also live one-on-one support (should you require it.)
Decision Bar was developed by a man named Les Schwartz as high complex (but relatively easy to use) comprehensive trading software that was originally designed for public use. Les has been a day trader since 1988, so he knows a thing or 2 about the financial markets. He’s not just some guru, he actually earns a living from trading.
A decision bar is simply is simply one specific bar on a chart and these bars represent a particular trading opportunity. With DecisionBar, you pair the software with any interval chart (or if you prefer volume charts and Renko charts.) DecisionBar predetermines the timing and direction of trades so you simply have to do risk assessment to determine if it’s a smart trade or not. DecisionBar indicates buys with green arrows and sells with red arrows, making it easy to make decisions.
While this all sounds very nice, it does also sound a bit too good to be true. DecisionBar reminds me of any generic fly-by-night company. While I haven’t tested the software, I can say that their long form sales page is a bit silly and outdated, which makes me wonder- if they can’t afford good copywriters, can they really be that high of quality. I don’t doubt that if you are looking for budget software, DecisionBar may help provide you with some assistance, as they their charts and graphs do what most others do. The problem that I see is that they don’t provide any access to real time feeds and lack some of the in depth analysis that other software provides. I would probably be wary if I was going to buy a new trading software, as DecsionBar doesn’t look like software that could pass high quality tests.