BPT is a software development company
BPT is a software development company. They spend a considerable amount of time in their software development and is a robust Futures, Forex, and Stock software trading program. However, be prepared to learn every micro detail of the thousand of settings and you better be a well-experienced Trader (Futures or Forex), because you are on your own to continuously optimize each strategy for each individual instrument traded and for each instrument's time frame. This has to be done manually frequently as market conditions change. So, rather than spending your time trading, many hours will be spent optimizing and managing the software template settings frequently and the never-ending versions. After optimizing your templates, they then recommend Sim trading for two days (for each template when it is optimized), which is a great practice, but this has to be done continually as modifications are applied, which can take away from your trading time or your weekend. Be prepared to deal with the iterations, hundreds of variable settings, and finding the best time frame for each instrument to be traded, as market conditions and seasons change.
Other than the obvious, my biggest concern is how they market the software with their daily YouTube Videos. It is portrayed as a plug and play, which it is not, due to the required continual manual optimization. The trades one sees on their youtube channel have been executed by well-tuned templates, but very rarely do they ever show the or number of losing trades, almost never, which is a part of trading. It easy for inexperienced traders to think they are going to have mostly winning trades, when in fact only about 30% to 40% trades will be winners, which is still not bad if the profit ratio is high enough on the optimized strategy. When you purchase the software you will get current settings, but they will need optimizing as market conditions change. They have extensive training videos that cover how to optimize, but literally, about half of the content is continually complaining about inexperienced customers and their inability to "baby-sit" support requests. So you better be well versed in NJ8 platform, A Good Trader, and willing to spend a few hours in optimizing each instrument and each instrument's time frame frequently, about every 2 to 3 weeks, pending the respective market conditions and season. They say it takes 1/2 hour in the training video, good luck with that. They do provide free software upgrades if you maintain the annual fee, which is very reasonable, and presently $500.
In my opinion, it's a bit pricey for the continual and the number of optimizations required. Simple AI could take care of most of the optimizations. The complaining of customer requests is mind-boggling and only hurts them. There is no written documentation, videos only, so be prepared to take plenty of notes. There is the initial massive overwhelm one has to get over, but it will pass if you stick with it. They should disclose the sheer amount of optimization and frequency required to use the software successfully. The price of $5K is worth it if you are prepared for the long haul and don't mind giving up some of your trading time for managing the software. They should stop saying in their youtube videos "you do not have to spend your weekend optimizing" their software, because you do.
It has the potential to be an awesome program, but some changes are required. If they do not make changes, eventually they are going to get into trouble with SEC and FTC as I see their market practices luring inexperienced traders to buy, and with a no refund policy spells trouble eventually. So, they should be a little more forthcoming. Their website needs a gross overhaul, eliminating duplication and mass grammar check.
January 1, 2021
Unprompted review
