I bought it and it was the quickest way i found of losing money!!!!!!!!!!! I bought it a while back. I wish i was a member of this site at the time, as i wouldnt have bought it had i known. And customer service was absolutely terrible!!!
Waste of time is my view. I can think of lots of ways to blow money, but this has to be the quickest by far!!!
It also makes me feel sick to think i was so stupid and bought it, when i could have bought something worth while. The brochure made me believe i was going to be rich so of course i bought it. But how i was wrong. I asked for my money back and at one point i thought they were gonna try and sue me for comments i made in my email.
... i only wish watchdog would have aired there program a little sooner!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Waste of time is my view. I can think of lots of ways to blow money, but this has to be the quickest by far!!!
It also makes me feel sick to think i was so stupid and bought it, when i could have bought something worth while. The brochure made me believe i was going to be rich so of course i bought it. But how i was wrong. I asked for my money back and at one point i thought they were gonna try and sue me for comments i made in my email.
... i only wish watchdog would have aired there program a little sooner!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I just had them send me some info and had a call from them...
Admittedly it sounded good from the salesman who claimed he started with 3.5K and now has over 80k in 3 years....
they say its a short term system making over 14.5%.. a yr or may have been a month .. Not sure !
the recken it uses 220 indicators and makes buy or sell decisions for you.
its 8K for life and £25 a month.
If anyone since had any positive experiences, It would be nice to hear.
from what Ive read it does sound a risky deal.. but they claimed they are the rolls royce of software.
Maybe in price to join, but Does this match in profits !!!
they recken on avg their clients make £35K a year..
Does sound a bit too good to be true..
Pete
Admittedly it sounded good from the salesman who claimed he started with 3.5K and now has over 80k in 3 years....
they say its a short term system making over 14.5%.. a yr or may have been a month .. Not sure !
the recken it uses 220 indicators and makes buy or sell decisions for you.
its 8K for life and £25 a month.
If anyone since had any positive experiences, It would be nice to hear.
from what Ive read it does sound a risky deal.. but they claimed they are the rolls royce of software.
Maybe in price to join, but Does this match in profits !!!
they recken on avg their clients make £35K a year..
Does sound a bit too good to be true..
Pete
Directional
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cheers Arbitrageur
Ive seen mainly negative view on MCI since reading T2w..
what one would think though , is with computers today claiming to analyse 220 short term indicators, that there would be such services that do produce the goods that they claim..
Im sure there are such things and have heard of a few, but they are also extremely expensive to join.
Ive seen mainly negative view on MCI since reading T2w..
what one would think though , is with computers today claiming to analyse 220 short term indicators, that there would be such services that do produce the goods that they claim..
Im sure there are such things and have heard of a few, but they are also extremely expensive to join.
When MCI contacted me a couple of years ago and tried to sell their product I checked on a few boards and the considered opinion was that the software could not be altered in any way, you just had to follow its decisions and hope you didn't get too many buy instructions before running out of money! Apparently there was much more software around which did the same thing for much, much less and was controllable by the user. I was very strongly advised to give MCI a miss, which I did.
Last week they contacted me again to try and re-generate interest. They claim that their software has been modified and works even better, of course it costs more so I told them to send me their literature and I would repeat my due dilligence exercise.
To be fair, I didn't really need to bother. The first board I logged on to and put MCI in their search engine came up with a thread which had had to be deleted as a result of receiving a strongly worded letter from MCI's London solicitors.
I've seen this before on many occasions. Although the thread may have displayed libellous comment, this is the usual technique of firms who don't like to see the embarassing truth about their activities displayed for all to read. Although the poster may have posted the truth, the board operator who is equally liable is not in business to fight posters' battles for them. Thus such posts usually disappear. In this case, the board opeartor has a policy of stating the reason that posts are removed . I always feel that when this happens, there is no smoke without fire!!
P.P.
Last week they contacted me again to try and re-generate interest. They claim that their software has been modified and works even better, of course it costs more so I told them to send me their literature and I would repeat my due dilligence exercise.
To be fair, I didn't really need to bother. The first board I logged on to and put MCI in their search engine came up with a thread which had had to be deleted as a result of receiving a strongly worded letter from MCI's London solicitors.
I've seen this before on many occasions. Although the thread may have displayed libellous comment, this is the usual technique of firms who don't like to see the embarassing truth about their activities displayed for all to read. Although the poster may have posted the truth, the board operator who is equally liable is not in business to fight posters' battles for them. Thus such posts usually disappear. In this case, the board opeartor has a policy of stating the reason that posts are removed . I always feel that when this happens, there is no smoke without fire!!
P.P.
I had Mci contact me again the other day.. I told them I had heard some negative feedback about them.
They welcomed any queries and gave some explanations with regards to the main comments I had to make, such as watchdog... unsatisfied customers etc..
They made out much of it was down to the clients Not using the system correctly.. ( always an answer any company can offer... one makes their own opinion on that !!!)
What really got me however is Ive Never had anyone tell me ALL of the clients that this caller had brought in ( over 150 if i recall... this last year alone )and who traded with a 5K account turned it into over 35K in a year provided they compounded their profits...... I thought that that was a very bold statement to make... Even good conmen wouldnt make such a statement IMO..!!!
Thye gave me a website to look at..
addmittely it sounds respectable !!!
THE INTERNATIONAL STOCK MARKET ASSOCIATION.
http://www.ismassoc.com/
It looks like one of those sites where they get someone or a friend to praise them... I agree !!
But they SHOW a LIST of surposively TOP software companies and claim they are rated the Number 1..
I recall a long time ago seeing a similar list in Futures magazine...
I wonder does anyone KNOW if there is any organisation or what ever who genuienely rates trading software programmes..
They claim they have 75,000 clients world wide..
Im not sure just what the charges are for most other systems.. But they ask for 8K...
They seemed to indicate that their system can lormulate buy / sell decisions without even one having to really understand anything about trading, such as fib, or EW, Gann etc... it analyses 220 indicators and just says to buy or sell once you become familiar at using the software...
Could IT be remotely possible such a system has ever been created.. !!!
If so I surpose one asks well are all the big boys using it...
Any other good objections will be welcome to pass on if I get any more calls !!!...
They say they cant give full trials due to changes and complaints from full member users..
although as others have said they offer to give a demonstartation...
They welcomed any queries and gave some explanations with regards to the main comments I had to make, such as watchdog... unsatisfied customers etc..
They made out much of it was down to the clients Not using the system correctly.. ( always an answer any company can offer... one makes their own opinion on that !!!)
What really got me however is Ive Never had anyone tell me ALL of the clients that this caller had brought in ( over 150 if i recall... this last year alone )and who traded with a 5K account turned it into over 35K in a year provided they compounded their profits...... I thought that that was a very bold statement to make... Even good conmen wouldnt make such a statement IMO..!!!
Thye gave me a website to look at..
addmittely it sounds respectable !!!
THE INTERNATIONAL STOCK MARKET ASSOCIATION.
http://www.ismassoc.com/
It looks like one of those sites where they get someone or a friend to praise them... I agree !!
But they SHOW a LIST of surposively TOP software companies and claim they are rated the Number 1..
I recall a long time ago seeing a similar list in Futures magazine...
I wonder does anyone KNOW if there is any organisation or what ever who genuienely rates trading software programmes..
They claim they have 75,000 clients world wide..
Im not sure just what the charges are for most other systems.. But they ask for 8K...
They seemed to indicate that their system can lormulate buy / sell decisions without even one having to really understand anything about trading, such as fib, or EW, Gann etc... it analyses 220 indicators and just says to buy or sell once you become familiar at using the software...
Could IT be remotely possible such a system has ever been created.. !!!
If so I surpose one asks well are all the big boys using it...
Any other good objections will be welcome to pass on if I get any more calls !!!...
They say they cant give full trials due to changes and complaints from full member users..
although as others have said they offer to give a demonstartation...
Well After doing significant research I have decided not to go ahead with the purchase of Star Trader from MCI Technologies. Here are my reasons.
Most of the boards and discussions you will find do not cover the product as such. There are very few posts from people who have bought Star Trader and used it as per the instructions. The question I continually asked was – does the software do what they say it does.
I arranged for a demo over the internet. This was a very quick demo of the guy (Mark Jones) showing me through a few of the screens. When I asked to go through how the programme works and how it can be customised he was rather un-knowledgeable. I was left with a feeling that I wanted to play with the tool some more to really see how it works. I also asked around what criteria it uses to select stocks i.e. does it only choose shares that are channelling? He said yes that it did. (It should be easy enough to write a programme to do this.)
I was passing their offices so I thought I would pop-in, however there was no answer to my door buzzing.
Mark left me a week until 20:00 on the night the deal ends (the deal being pay £3400 +VAT now and then a further £3400 +VAT in a year when you have made £30,000). He rang while I was out and proceeded to tray and do the deal. No real issue with this, however I asked a couple of questions and requested to see three things:
- A list of the trades it suggested in the past month
- A second demo where I could control the application (not him)
- An independent review of the product.
I also mentioned that there are a fair few forums that say negative points on them, however that most of the comments are from people that have not used the product.
Well at this stage he became rather rude and he said that I obviously did not believe him. I calmly stated that I would like to come in tomorrow for a demo. He then said that he does not want me as a client and hung up on me. I was now a little confused.
About 5min later he rang back to make some snide comment and hung upon me again. ( I used to be a sales manager and trainer teaching sales people the hard sell so know many of the techniques used and how some respond in the game. This guy obviously decided he had lost – although I was very interested in the product – and so thought he would feel better to insult me. He should be fired for his unprofessional behaviour).
The next day I had a call from his Manager (Nicholas Reyes) saying that he had heard the conversation and wanted to apologise and see if there was anything we could do – This is a typical sales technique (I used to teach this). I re-stated my three requirements as above. Nicholas then sent through the guarantee card and a promotional screenshot (not an actual one as it had some marketing blurb attached) of the trades for May 2007. I of course then looked up these trades. The first thing I noticed was that none of the shares were channelling (I was told by mark this software targets channelling shares). These were all growth shares. Again shows that Mark does not know what he’s talking about.
After analysing risks and comparing a couple of applications I decided to go for a £2500 software and training course. I emailed MCI Technologies addressing to Nicholas that I was not going with their product at this stage and would be interested later this year.
Then today Nicholas calls me (we are now 2 days after the deal end mind you) to discuss coming onto the deal. He asks why I chose another – I took him through the risk analysis and said that I may be interested in Star Trader later this year as it is not suited to my current situation and the type of trading I will be doing. He then said I was lying (which I was not), did a close on me to check if I was serious and then asked for a deposit of £300 to hold the deal open for me to take up later. I stated that if the software works and does as they say then the cost is irrelevant and therefore I will not be placing a deposit. I re-iterated that I would be interested later this year. He stated that I would have to wait two years for it to be released again. He then said and I quote “No Balls, No Glory” and hung up on me. What better way is there to ensure that you will never gain a person as a client.
So it is now the Senior Manager Nicholas Reyes who is being completely unprofessional and rude to potential clients.
So I still have no idea if the software works. But I do know that the staff are completely unprofessional and have no idea on how to sell.
So decide for yourselves. How do you as a client want to be treated?
But the question remains does the software work?
So when they next contact me I will be asking for a month of live demos – where I will visit there offices every day or so and paper-trade the recommendations from the programme. Since it only takes a few minutes to identify the trades I think this is a reasonable way to test the software’s ability.
Most of the boards and discussions you will find do not cover the product as such. There are very few posts from people who have bought Star Trader and used it as per the instructions. The question I continually asked was – does the software do what they say it does.
I arranged for a demo over the internet. This was a very quick demo of the guy (Mark Jones) showing me through a few of the screens. When I asked to go through how the programme works and how it can be customised he was rather un-knowledgeable. I was left with a feeling that I wanted to play with the tool some more to really see how it works. I also asked around what criteria it uses to select stocks i.e. does it only choose shares that are channelling? He said yes that it did. (It should be easy enough to write a programme to do this.)
I was passing their offices so I thought I would pop-in, however there was no answer to my door buzzing.
Mark left me a week until 20:00 on the night the deal ends (the deal being pay £3400 +VAT now and then a further £3400 +VAT in a year when you have made £30,000). He rang while I was out and proceeded to tray and do the deal. No real issue with this, however I asked a couple of questions and requested to see three things:
- A list of the trades it suggested in the past month
- A second demo where I could control the application (not him)
- An independent review of the product.
I also mentioned that there are a fair few forums that say negative points on them, however that most of the comments are from people that have not used the product.
Well at this stage he became rather rude and he said that I obviously did not believe him. I calmly stated that I would like to come in tomorrow for a demo. He then said that he does not want me as a client and hung up on me. I was now a little confused.
About 5min later he rang back to make some snide comment and hung upon me again. ( I used to be a sales manager and trainer teaching sales people the hard sell so know many of the techniques used and how some respond in the game. This guy obviously decided he had lost – although I was very interested in the product – and so thought he would feel better to insult me. He should be fired for his unprofessional behaviour).
The next day I had a call from his Manager (Nicholas Reyes) saying that he had heard the conversation and wanted to apologise and see if there was anything we could do – This is a typical sales technique (I used to teach this). I re-stated my three requirements as above. Nicholas then sent through the guarantee card and a promotional screenshot (not an actual one as it had some marketing blurb attached) of the trades for May 2007. I of course then looked up these trades. The first thing I noticed was that none of the shares were channelling (I was told by mark this software targets channelling shares). These were all growth shares. Again shows that Mark does not know what he’s talking about.
After analysing risks and comparing a couple of applications I decided to go for a £2500 software and training course. I emailed MCI Technologies addressing to Nicholas that I was not going with their product at this stage and would be interested later this year.
Then today Nicholas calls me (we are now 2 days after the deal end mind you) to discuss coming onto the deal. He asks why I chose another – I took him through the risk analysis and said that I may be interested in Star Trader later this year as it is not suited to my current situation and the type of trading I will be doing. He then said I was lying (which I was not), did a close on me to check if I was serious and then asked for a deposit of £300 to hold the deal open for me to take up later. I stated that if the software works and does as they say then the cost is irrelevant and therefore I will not be placing a deposit. I re-iterated that I would be interested later this year. He stated that I would have to wait two years for it to be released again. He then said and I quote “No Balls, No Glory” and hung up on me. What better way is there to ensure that you will never gain a person as a client.
So it is now the Senior Manager Nicholas Reyes who is being completely unprofessional and rude to potential clients.
So I still have no idea if the software works. But I do know that the staff are completely unprofessional and have no idea on how to sell.
So decide for yourselves. How do you as a client want to be treated?
But the question remains does the software work?
So when they next contact me I will be asking for a month of live demos – where I will visit there offices every day or so and paper-trade the recommendations from the programme. Since it only takes a few minutes to identify the trades I think this is a reasonable way to test the software’s ability.
TheBramble
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A very thorough exposition of your endeavours to assess the MCI offering. It would be useful if there were a representative of the company available to comment on your comments so to speak.
While I think we all appreciate bona fide information such as this, you only joined the site today and have posted the same post in two MCI threads. This should in no way be viewed as a judgement on your veracity or obvious positive intent, but more a caution to await more information or get the other side before others start wading in with the brickbats.
To be fair, there has been little positive to recommend this company’s offering or indeed, any company that has products in the trade structuring area. While those that provide charting seem to have found their niche by providing good, and mostly reasonably priced products that assist traders in making their own trading decisions and constructions, those that aim to offer a black box approach for selection and execution seem to fare less well.
It might be a function of the target group and or the experience of those that have gone before. In any event, if I were ever driven to market trade selection and execution software, I’d make it cheap enough for the newbies to easily afford. Expensive software brings an appropriate level of expectation which few (any?) products are ever able to meet.
While I think we all appreciate bona fide information such as this, you only joined the site today and have posted the same post in two MCI threads. This should in no way be viewed as a judgement on your veracity or obvious positive intent, but more a caution to await more information or get the other side before others start wading in with the brickbats.
To be fair, there has been little positive to recommend this company’s offering or indeed, any company that has products in the trade structuring area. While those that provide charting seem to have found their niche by providing good, and mostly reasonably priced products that assist traders in making their own trading decisions and constructions, those that aim to offer a black box approach for selection and execution seem to fare less well.
It might be a function of the target group and or the experience of those that have gone before. In any event, if I were ever driven to market trade selection and execution software, I’d make it cheap enough for the newbies to easily afford. Expensive software brings an appropriate level of expectation which few (any?) products are ever able to meet.
Tony
Yes it is posted twice. Mainly so that others can see how far I have got with the review and hopefully someone can take it further. My intention is to allow others to make an informed decision. It is not to run a company or software into the ground. I can only provide my experience. Unfortunatly I cannot fully comment on the software as I have not had the opportunity to fully take it through it's paces. This I would like to do some time.
Yes it will always be hard for companies to sell black box solutions. I for one would prefer applications where I can customise with my selected attributes.
Cheers
Yes it is posted twice. Mainly so that others can see how far I have got with the review and hopefully someone can take it further. My intention is to allow others to make an informed decision. It is not to run a company or software into the ground. I can only provide my experience. Unfortunatly I cannot fully comment on the software as I have not had the opportunity to fully take it through it's paces. This I would like to do some time.
Yes it will always be hard for companies to sell black box solutions. I for one would prefer applications where I can customise with my selected attributes.
Cheers
JTrader
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MCI ST is a scam.
Did you not see them on watchdog a year or 2 ago?
Don't touch with a barge pole....
rols
Experienced member
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I am surely one of the blessed ones too.
This morning I received a letter from MCI headed 'congratulations' telling me that I had been selected to receive an exclusive and special limited offer. The letter also emphasized the 100% 13 month money back guarantee.
'Well', I exclaimed to my wife, 'MCI have certainly come on since the days of selling kitchens that fall apart.'
Usually anything I receive that contains the following magic words; exclusive, special, exciting, money back guarantee etc goes straight in the bin but as I had a few minutes to pass over my tea and toast I thought I would investigate further.
Feeling a little hungover I was also in need of a good laugh to get the day going.
The lovely bottle green brochure contains images of happy, white middle class people relaxing either at their PCs or on the marina or golf course.
Page 4 invites me to 'make money using nothing more than a computer, and enthusiasm and desire to create wealth.'
Great, methinks. I'm an ideal candidate!
Page 5 is entitled 'The Facts' and the following statement
'If you think investing in the Stock market is complicated or requires a university education....you are wrong!'
This is followed by a line chart of the DJIA ascending into the heavens.
Even better. Any moron can succeed without any effort. Even better!
More happy making pages....
'Less than 10 minutes a day...How easy is this...?'
Pages about MCI. How wonderful are they? I wonder if they do double glazing or unblock sinks. Perhaps they might solve world poverty?
Finally a testimonials page. Positively glowing!
'Too good to be true....' says Sabine M
'70 year old surprised by how easy it was...' says Fred D.
The nasty clash of lime green and fushia pink from the elderly couple's attire was the not only cause for concern on this page.
The small print (I would imagine many would not bother or be able physically to read this) contained a rather disappointing admission that the testimonials were 'not a representation of future trading results' and some of the testimonials were 'induced as the result of a competition.'
Oh dear. The word 'induced' has put me right off.
Another one for the blue bin.
This morning I received a letter from MCI headed 'congratulations' telling me that I had been selected to receive an exclusive and special limited offer. The letter also emphasized the 100% 13 month money back guarantee.
'Well', I exclaimed to my wife, 'MCI have certainly come on since the days of selling kitchens that fall apart.'
Usually anything I receive that contains the following magic words; exclusive, special, exciting, money back guarantee etc goes straight in the bin but as I had a few minutes to pass over my tea and toast I thought I would investigate further.
Feeling a little hungover I was also in need of a good laugh to get the day going.
The lovely bottle green brochure contains images of happy, white middle class people relaxing either at their PCs or on the marina or golf course.
Page 4 invites me to 'make money using nothing more than a computer, and enthusiasm and desire to create wealth.'
Great, methinks. I'm an ideal candidate!
Page 5 is entitled 'The Facts' and the following statement
'If you think investing in the Stock market is complicated or requires a university education....you are wrong!'
This is followed by a line chart of the DJIA ascending into the heavens.
Even better. Any moron can succeed without any effort. Even better!
More happy making pages....
'Less than 10 minutes a day...How easy is this...?'
Pages about MCI. How wonderful are they? I wonder if they do double glazing or unblock sinks. Perhaps they might solve world poverty?
Finally a testimonials page. Positively glowing!
'Too good to be true....' says Sabine M
'70 year old surprised by how easy it was...' says Fred D.
The nasty clash of lime green and fushia pink from the elderly couple's attire was the not only cause for concern on this page.
The small print (I would imagine many would not bother or be able physically to read this) contained a rather disappointing admission that the testimonials were 'not a representation of future trading results' and some of the testimonials were 'induced as the result of a competition.'
Oh dear. The word 'induced' has put me right off.
Another one for the blue bin.
JTrader
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Do yourself a favour & throw the MCI Star Trader glossy brochure straight into your green recycling bin, without wasting any time reading it!
You can program sharescope EOD to do the same thingS as ST for 0.2% of the cost of MCI's ST! It is just a piece of software that will draw up a short-list of stocks based on a few simple technical indicators, and customisable criteria being met.
eg. RSI based trade alerts based on whatever stocks have passed up above 30 on the RSI14 on that particular day! Nothing very sophisticated in that!
The reason why they cold call is because they are relying on sellin it to people who haven't got a clue about trading or trading software. People who have a clue would see MCI & ST for what it is immediately!
You can program sharescope EOD to do the same thingS as ST for 0.2% of the cost of MCI's ST! It is just a piece of software that will draw up a short-list of stocks based on a few simple technical indicators, and customisable criteria being met.
eg. RSI based trade alerts based on whatever stocks have passed up above 30 on the RSI14 on that particular day! Nothing very sophisticated in that!
The reason why they cold call is because they are relying on sellin it to people who haven't got a clue about trading or trading software. People who have a clue would see MCI & ST for what it is immediately!
Last edited:
Directional
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exactly. a good product should never require any hard sell or pressure salesman haranging you on the phone.
if a trading product can genuinely make money for someone, it should sell itself, and price tag wouldnt really be an issue so long as its performance can be proven and verifiable.
but the question to consider, if some firm really has a product that can extract money from the markets, why would they sell it and basically give you a license to print money? why would they not: keep it secret and use it to rape the markets with, OR invite you to trade your money with this product and keep a cut of the proceeds?
if a trading product can genuinely make money for someone, it should sell itself, and price tag wouldnt really be an issue so long as its performance can be proven and verifiable.
but the question to consider, if some firm really has a product that can extract money from the markets, why would they sell it and basically give you a license to print money? why would they not: keep it secret and use it to rape the markets with, OR invite you to trade your money with this product and keep a cut of the proceeds?
