Oracle Trader by Forex Traders Daily is a Forex trading system – signals and auto trading software. It also includes Forex trading training.
Oracle Trader system is based on financial market news releases. It works on an idea that the market movement can be predicted based on how the release of important financial data meets its expectations. And because the releases take place at known times, it is possible to predict when the movement occurs.
The software then gets the news feeds of predicted data values and real values as they are released, compares the two and makes trading decision. It issues buy/sell signals and can execute trades automatically.
While you can follow the same strategy using the financial calendars and news casts, the market reacts very quickly and it is difficult to trade with this strategy manually. This is the main benefit of the Oracle Trader – it automates this strategy and makes it easy to trade.
Additionally the system comes with training, webinars and coaching teaching how to use the system and how to trade Forex in general.
The biggest drawback of Oracle Trader is the no refund policy, but the authors promise to work with every person to help them succeed if they struggle.
More details:
- Cost: $2,470
- Currency Pairs Supported: All major currency pairs
There are quite a few people who have brought this very expensive software many not very happy with it a few the complete opposite do check out this link
forexpeacearmy.com/public/review/www.tradeoracle.ch [note from admin: wrong product, see comments below]
Why are you saying this is the same product, Phillip? It’s a different site, different name, different price, different description and no doubt different product. There’s absolutely no reason to think they are the same people with the same product.
Here’s the correct entry at FPA for this product: http://www.forexpeacearmy.com/public/review/oracletrader.net
oracle trader is a complete waste of money. even the marketing is horribly done in my opinion.
Care to elaborate? I don’t know much about the product but their marketing isn’t that bad at all. Trust me, it will be good enough to make them some serious money with their promotion.
I don’t see why William would comment the way he did. Did he use this product? If he did not, then it’s not justified to comment as such. If he did use it, then he should mention the shortcomings of the product, rather than make a blanket statement that the product is a waste of money.
Hi,
I don’t know why ppl have negative review about this. Some complained that the support was not good. I don’t know about that, maybe in the past they weren’t great, but every time I email them they respond to me within 2 days the most.
When I first got oracle trader, I downloaded the free version. For the product to work you got to pay. Unfortunately there was a glitch & I was one of the lucky one to try it out on demo account for free! 😀 Then they fixed the glitch & no longer could use it freely, so had to pay. Trades on auto-click executed well & had winning trades as well as very few losing trades. But not a single losing month, considering I tested it for 1 month.
Most people say this product does not open trades, well maybe you didn’t set the auto-click function properly. I admit there is alot of information on the manual to digest, in order to get the software to work.
Importantly I want to remind all of you why, Oracle trader may not work for you. This product really does work, no doubt in that as I have seen proof on my demo account. But when you trade live, it becomes totally a different story. Make sure you research & know about your broker inside & out. I know it’s difficult to do that, but remember most brokers don’t like traders to trade during the news. They are aware of scalper taking advantage during those times, therefore they tend to re-quote, spike it, and in most cases cancel a trade.
So if you really want to use this software, why don’t you email back to support ask which is the appropriate broker to trade with, or go research & find out the right broker to trade with.
don’t buy the oracle trader till you have read this
the oracle trader first of all is only a half of the product you need what i mean by that is
it does not and will not fuction of it’s own and that’s the dirty lil secret
that you learn after buying it it’s only 50% of what you actually need to make it function
the mojority of the success of the oracle trader depends on the broker letting you in these trades
during news events and giving you a decent price at which brokers are notorius at ripping you off
during these events it is out right scaddleous that spreads increase 20 or 30 right b4 the event
so fast you didn’t even notice till your in and too f**kin late now chump now you pay the requote
the spread and some brokers plateforms freeze during news events not even letting you out
when you have a profit all these things are no where in the advertizment of the oracle trader so dont even buy it till you figure out your broker issues get the demo without autoclick free than open broker and play
with pennies till your sure of exucution and another thing how can you trust anybody with no customer service none that bullshit of live chat doesn’t cut it dont settle for nothing less than
phone number customer service live person , the oracle trader cost $2400 for the year and than will cost you $300 a month after that $300 a month did you hear me so you better be using some lot size just to pay for that there making money on some sort of affiliate program not on the performance of the oracle trader so i went with the 3 pay method you would think if it cost $2400 a year $800 which was my first payment would cover at least 3 month? gues what no! after the first month where i ran into all these issues and never enterd 1 trade with yes 3 broker mind you and still looking for the holy grail broker
they cut me off the auto click i contacted support yes submitted a ticket asking for a exstention seeing as i did pay $800 and am being absolutly ingnored so heres the math yes there’s about 30 news events a month the profit center of the oracle trader is only open for about 10 of those of those 10 only a few meet the safe deviation trade on the oracle trader of those few which is about 5 your broker better let your f**kin ass in ha of those 5 maybe 2 or 3 you’ll get in hope those lots are big to make a profit and pay for this shit unless you have a dynomite broker this is not worth while so it would be more honest for the oracle trader to already have a list of brokers since this is what there own software depends on so crutailly and yes i have seen there brokers these are the ones that have been failing me think or swim/fxcm/gain capital/forex.com/fxdd/ so i have tried multipal brokers
They were pursuing me to join, daily, until I did the sums –
Unless you have an opening pot of say $50,000, the number of trades multiplied by the controlled lot size will NEVER make enough profit to pay their Fee’s which in my opinion are extortionate.
Since this purchase is not covered by PayPal or Plimus’s Refund policy your chance of getting a refund is Zero in my experience
Yes the software itself works but there is one issue that may explain why there is no refund: Every trade success is determined by how fast your broker is going to fill a trade. The trade obviously needs to be filled at that split second or you “miss the boat” if you are trading that news release. I have never made a trade that did not take about 3 or more seconds to fill let alone what happens during news events. Give me a break!!!
Just a couple of added notes: The webinar was conveniently scheduled 1 and 2 days before NFP and one other big news release. In the webinar the person stressed how you have to act now so you do not miss out on the upcoming news events. This pressure has red flag all over it. Also, there was not one comment about broker or platform selection in regards to the execution speed required. Go figure. There is information lacking in my book and not presented well. In the beginning you are told he doesn’t want to waste your time during the webinar after which you have to sit and listen to some philosophical crap added in the mix during presentation.
I have been using this software for 4 months now. I would not recommend it to anyone. First of all it was very buggy and their servers couldn’t handle the traffic, so many times I didn’t even get the info I needed to trade. They did fix this but other issues arose. They advertise this as telling you market direction, which it doesn’t. It only gives you market direction (if you can call it that) for a brief few seconds during a news event. The other people here are right about getting fills during news events, it can be very difficult and dicey. As well, many times there isn’t even a trade because their parameters aren’t met. I have been keeping track of their trade record and since August til October there were approximately 17 trades recommened on the platform and only on three of those were their parameters met for a trade. This does not mean you would have made money it just means you may have been able to if your trade got filled well.
I would stay away from Oracle Trader there are better ways to trade. You could do better just using simple trend line breaks with good stops!
These guys are a rip, somebody should sue them or report them to someone, if for no other reason than their false advertising about being able to tell you trend direction which they don’t!
I purchased Oracle Trader on Aug 1, 2010. I traded the first month with a demo account and made over 200 pips. i started trading live the first week in September. everything changed. I`ve only had 2 very small profitable trades since that time and several losing trades. Live trading is totally different than demo trading. About 80% of the time I receive no trades, disabled trades, or trade timed out, or some other error. I have contacted the “lack of support department” on several occasions. Their only response is to change brokers. I am now on my 5th broker with no improvement. (Gain UK, Alpari Uk, metatrader.com). I have used the services of 2 broker referral companies but that has not helped. Oracle Trader staff no longer respond to my emails.
I have not made a trade since christmas. I just can`t justify getting up in the middle of the night and waking up my wife to attempt to make a trade with so low a probability of success. The original sales pitch is very mis-leading in that they do not disclose how difficult it is to find a broker that this program works with some efficiency.
On top of all this, the monthly subscription of 299.00, (I believe) starts on Aug 1, 2011. There is no way that I will subscribe, even if the program starts working. I now understand why they will not allow refunds or allow a member forum.
Now for my sales pitch. If anyone is insistent on purchasing this program I will sell you mine for a deep discount. Unless you have deep pockets, I would not suggest you take me up on my offer. If you have deep pockets, I would appreciate the donation.
Stay away from Oracle trader. I regret signing up with them and can’t get a refund. I have lost Australian $2400 for such a crappy strategy. When thinking about the news that they are trading, half of them will be a NO TRADE. Also when thinking about all the re-quote from the broker, I think you are just wasting your time with Oracle Trader. No Trade, requote and slipage will just kill you with this program. Its a waste of time and money. If you want to try this system I can transfer my account to you for $500. Contact: ruht6@optusnet.com.au or look out on ebay for my offer
Don’t waist your money,,,,, please ….listen to all these guys I wasted $2700.00 NZ
What a rip even got overcharged for no service received. Just go ahead and put your money in the shrader!
This is a scam. I signed up a year ago, tried to use it but could not get filled live from brokers, changed brokers 3 times, still no fill. Quit trying, deleted my name from their email, and did not have access to their trade room for over 9 months. Now one year later I am being billed for renewal, I did not renew. They say no refunds. If selling nothing is their business, that they have a good thing going.
Guys trust me is the same software as RSS i been following dustin and his friends for years and they just change the names of the softwares and resale them his friend derek frey is doing the same now with elemental trader i would recommend not buying anything from them because they just going to keep coming up with new stuff and rename them.
Mimics the kind of strategy employed by the big boys… no way a retail trader can have access to the required amount of speed. This is a scam.