ColinRiche
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this is a hard sell outfit
look at the brochure they send out and you will see they are selling a dream
and then they follow up with cold calls that can be very persuasive
don't fall for it
look at the brochure they send out and you will see they are selling a dream
and then they follow up with cold calls that can be very persuasive
don't fall for it
Is there any software that you know of that works? There must be as brokers and pro traders do use some software. I have heard of Sharescope etc but do not really know of anything seriously professional that does the job. Any info on this much appreciated
regards. Pakhter,
regards. Pakhter,
I received one of their brochures this morning and gave them a call. Basically I was told the software has an 83% strike rate. You can also ask for a live demo at their offices in Oxford Street, or via the web. However, I was also told if I was too purchase the system now it would cost me £6900, which can be paid in 2 installments, or it would be £8000 plus VAT in the new year! mmmm.
I see someone mentioned above the bad press the company got on Watchdog, but a lot of respectable firms get bashed on watchdog, and rightly so, but i'd like to here from anyone on this site that has experienced MCI Star Trader. Anyone???????????????
A
I see someone mentioned above the bad press the company got on Watchdog, but a lot of respectable firms get bashed on watchdog, and rightly so, but i'd like to here from anyone on this site that has experienced MCI Star Trader. Anyone???????????????
A
FetteredChinos
Veteren member
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83% strike rate?
do they work for London Underground?
do they work for London Underground?
FetteredChinos
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tell you what, take the £7k and put it in a spreadbetting account. or better still, a direct-access account.
then learn to trade with that, just looking at charts. if the market is going up, go long. if it is going down. sell it.
if you are so keen on an 83% hit rate.
try this out for size.
when the price crosses the 20 period moving average, go long. profit target 10 pips. stop loss 100 pips.
will work the majority of the time, but when it doesnt. well, lets just say, Good Luck.
win % isnt the most important factor with a trading system. it is the imperfect knowledge that exists in the world that means that system vendors can quote this number with gay abandon, knowing that that is what people want to hear.
after all, selling a system with 40% "accuracy" doesnt sound so appealing, does it!
FC
then learn to trade with that, just looking at charts. if the market is going up, go long. if it is going down. sell it.
if you are so keen on an 83% hit rate.
try this out for size.
when the price crosses the 20 period moving average, go long. profit target 10 pips. stop loss 100 pips.
will work the majority of the time, but when it doesnt. well, lets just say, Good Luck.
win % isnt the most important factor with a trading system. it is the imperfect knowledge that exists in the world that means that system vendors can quote this number with gay abandon, knowing that that is what people want to hear.
after all, selling a system with 40% "accuracy" doesnt sound so appealing, does it!
FC
JTrader
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Hi Andy
The Star Trader users who appeared on Watchdog didn't seem too happy with the product - surely this is enogh proof!
This outfit lies to potential customers, change their stories, cold calls, etc. etc.
Stay well clear of these cowboys, that my advice.
ok cheers mate. i thought it was a little dodgy when the lady said to me they're reducing their prices just because it was christmas! she was even prepared to take a £200 deposit, which I nearly paid before checking here, and on a product which costs £7k thats seems strange.
matthewquigley
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Mci Star Trader
HI guys i know you sick of this question but can you give me some advice. My friend has just started trading using star trader and has made some profit. I have read so many bad reports and reviews about this software but most of it is from people who dont use it . Is there anyone here who is using it and how does it perform ? I have £2000 to invest and have little experience of shares , im thinking of using his alerts to invest and hopefully make some profit . I wont have the outlay of purchasing the software or the monthly charge of downloads so will this give me a good chance ?
HI guys i know you sick of this question but can you give me some advice. My friend has just started trading using star trader and has made some profit. I have read so many bad reports and reviews about this software but most of it is from people who dont use it . Is there anyone here who is using it and how does it perform ? I have £2000 to invest and have little experience of shares , im thinking of using his alerts to invest and hopefully make some profit . I wont have the outlay of purchasing the software or the monthly charge of downloads so will this give me a good chance ?
JTrader
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Hi Matthew
Sorry to sound blunt - but what can I say - if you are still prepared to have anything to do with Star Trader having read and heard all of the negative press about MCI then.....................
Secondly, if you do decide to use your friends alerts to do your own trading, you do so at your own risk. All forms of trading carry risk. If you do not know much about what you are doing, you are likely to lose money. Only trade with money you can afford to completely lose. I would not invest my £2000 in the way that you describe - what if your friend forgets to tell you when an exit signal was generated? The whole approach sounds quite flimsy.
Most importantly though - DO NOT UNDER ANY CIRCUMSTANCES WASTE YOUR MONEY ON BUYING STAR TRADER - it is a poor program in my opinion, as it is pre-programmed (black-box type) in many of it's setting - thus not giving the user much scope for autonomous input and customisability. I would not use it even if somebody gave it to me. I would only use the Star Trader CD as a frisby or a coaster.........................
But when all said and done it is your decision whether or not you use your friends alerts. If your friend continues to make money you'll be glad to be on board, but if your friend starts losing money - you'll wish you'd not followed the alerts.
Why not learn about techanical analysis for yourself, by a cheap and customisable charting application, and take greater control of your own trading activities? that's if you really want to learn about and become involved in trading. (Just to let you know what you'd be letting yourself in for
) Be aware, there is a heck of a lot to be learnt and no guarantees of success at the end of your (ongoing) education.All the best
jtrader.
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Thanks for the advice, guys. Star Trader have been mailing me and I responded.
When my wife insisted I got the house double glazed, I selected a nationaly known company and then asked them for the telephone numbers of satisfied customers. They opened their database, found the details of customers within a couple of miles of my house and, after contacting some of these customers to obtain their permission, passed on their telephone numbers. They also gave me other local addresses for me to do "drive by" inspections of their workmanship. On investigating, I was satisfied and placed the order - receiving a perfectly satisfactory job for a good price. On the other hand, despite their glowing promises, Star Trader make every excuse under the sun as to why they cannot do something similar! Due dilligence has led me to this excellent site and the BBC watchdog report. Thanks again for the advice - my little pot of gold can remain safely in the bank!
P.P.
When my wife insisted I got the house double glazed, I selected a nationaly known company and then asked them for the telephone numbers of satisfied customers. They opened their database, found the details of customers within a couple of miles of my house and, after contacting some of these customers to obtain their permission, passed on their telephone numbers. They also gave me other local addresses for me to do "drive by" inspections of their workmanship. On investigating, I was satisfied and placed the order - receiving a perfectly satisfactory job for a good price. On the other hand, despite their glowing promises, Star Trader make every excuse under the sun as to why they cannot do something similar! Due dilligence has led me to this excellent site and the BBC watchdog report. Thanks again for the advice - my little pot of gold can remain safely in the bank!
P.P.
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