Newb needs feedback on "Trade Tech Institute"

[leeworld]

Hello, I'm a new member yesterday....Thanks for letting me join....this looks like a very helpful/informative/enjoyable and well run forum.

I'm a newbie....semi-retired and interested in creating a new "career"....have always been interested in the markets etc...etc.

At the moment I am interested to hear any feedback that you might have regarding "The Trade Tech Institute" and their trading products etc....thank you in advance for any feedback that you offer. I've been contacted by The Trade Tech Institute and I am curious enough to want to know more before dismissing them or handing over money for their trading systems.

Thank you,

Lee

 

[cfweho]

Hi Lee, did you ever find out more on Trade Tech Institute? I talked to them and thier systems look interesting, but wanted to find out more and there isn't much on them on the Internet.
thanks!
--CF

 

[rfj7715]

They would only deal with me if I made a decision right now. Not the way to do business. Sounds shady to me

 

[DSchwarzer]

I am attempting to look into this as well, and put them off while I try to do some research. Try California's site California Secretary of State
Click "business programs" and on the next page "California business search"
Type in their name, and for contrast try "Enron". I don't know what this really tells you, but it's a start. (I got this from TTI's rep, so consider that, but it is a government site in California) You can also try the SEC (Securities and Exchange Commission) site.
I would like to see some user feedback as well, as it's spendy. If it performs as represented, who cares? If not, just another roll of bills down the pot... Who needs that?

 

[cfweho]

Virtually nothing on the net about TTI other than the fact that they are incorporated. Their website was registered in Jan '09... could have existed prior, but that is when it went live on godaddy. I looked up the Broker they said they use, and didn't find them either. Hmmm.....

I looked at the Statistics page on their website and there is a link to a TradeStation system test report for each strategy. That says to me they built and optimized these systems using tradestation and that the trades they show in their model portfolio are hypothetical. Nothing wrong with that, it's usually how systems are developed, but... I asked the rep about it and he got very defensive and claims these are real systems being traded and that the portfolio they show is real. If that is the case then they've been trading this for two years... ok, then why doesn't the model portfolio show slippage, commisions, and taxes? why would they wait until now to sell it? The rep said they would only sell to around 300 people, but got vague when asked about account size, contracts traded simultaniously, etc. (think about 300 contracts of Nasdaq e-mini being triggered at the same time... anyone who has watched volume will know that means slippage!)

I don't think that is their business model, and i don't believe the rep at all. They lost credibility when they offered $2K off the list price but only if i'd "buy it today". I never asked for a discount and they didn't ask if i thought it was too expensive. That alone speaks volumes.

I never give money to persons who cold call me out of the blue. Maybe i'm missing out on a great deal, but considering i can't find anyone else on the Internet to say anything at all about these guys.... I think I'll shop around for other systems ;-)

I'd love to hear from anyone who has done business with them!
thanks!

 

[goborne]

Any more info? I recived a call from them.

 

[freezeSL]

Don't you think it's weird if there isn't much information about them on the internet?

 

[joe4422]

I think it's weird that everyone posting here has only 1 post, yet rather than spamming this site you almost seem to be slagging it. Sounds like a scam of scams. It's always easy to spot a scam, because it seems like one. Stay away.

I've never used the advanced GET from esignal, but they do offer a free trial after you pony up a few thousand bucks.

 

[goborne]

I see it is not your fist time to post. Wonderful... It is now my second. I do not know what slagging is or care.

Onward with info on investing. The GET is very costly 4 grand if I remember right.
Do you get good results without the get? What level do you use?

The Trade Tech Institute I declined. The records of growth were good but I am not ready to put that much upfront 8 grand and hope it is not a Ponzi scheme or falsely created records. I am not an expert at checking these things out. Have read some track records can be validated by 3rd party or federal something or other.

Have been using Hubert Digest and might try the interactive. Any ideas on checking performance out beside Hubert?

 

[cfweho]

Hi, I never heard back from them. Not that it matters, but, their address is a P.O. Box store.

I did end up going with a system by Joe Krutsinger, that I run myself under Tradestation. I've been very happy with the system, and Joe has taught me a great deal about automated system trading.

I use a Virtual machine at a hosted co-lo facility so it runs all the time.

cheers!

 

[eric3377]

trade Tech.

Could you tell me how to contact Joe Krutsinger.

Hi, I never heard back from them. Not that it matters, but, their address is a P.O. Box store.

I did end up going with a system by Joe Krutsinger, that I run myself under Tradestation. I've been very happy with the system, and Joe has taught me a great deal about automated system trading.

I use a Virtual machine at a hosted co-lo facility so it runs all the time.

cheers!

 

[cfweho]

Hi,, He's at www.joekrut.com

 

[atk]

I talked to two people at Trade Tech Institute yesterday.

The first person I spoke with was a lady and she seemed ok although I had trouble getting her to answer some of my questions. Finally when I asked what it cost she said "$99" and I said ok I would talk to the next person. I asked how they made their $ because I know they did not cold-call me just to get $99, and she said it comes out in commissions.

When I talked to the second person later in the day (I didn't have time at the first call) he showed me some information on their website and then he told me what the system actually cost which was a lot more than the price the lady quoted me.

I asked about this and he said it was the "application fee" or something. This of course did not sit well with me. A legimate company is upfront about costs. If it costs thousands of dollars to sign up, tell me that upfront, do not mislead.

Next, the charts on the website showed gains but when I asked if commissions were calculated in them, the answer was no. I quickly added up based on # of trades shown what the difference would be and out of the theoretical profit of about 200% above the initial investment, the actual profit would be about 30% less than that taking into account the trade commissions.

I did not like this and expressed that this was misleading and he said it is not misleading because it is fully disclosed. I mentioned another automated trading site I know does take commissions into account in their charts and so shows your true profit, and he didn't really have a good answer for that, said something like "well this presentation works better for our clients" or some such.

Anyhow, I did not like two things, first that she mislead me on the cost, and second, that the company does not take into account in the graph the normal costs of trading. I have dealt with another company on that in the past and it can be very different in terms of actual profit. I also mentioned that I prefer companies that charge monthly, as that gives them incentive to continue to ensure the systems stay profitable, compared to a large upfront fee.

That pretty much ended the conversation.

Today I did more research on them on the web and found this site and these postings. So I decided to post my dealings with them.

They probably do make some people money, but I did not like the above items.

BTW, the company that is more upfront about fees is www.striker.com. I did make some money with them in the past, but the systems that I used have not done as well lately. But all commissions are included in the calculations, and the systems I traded had monthly charges with no upfront fee, versus a large fee to start. I like that. And I could change systems if I wanted. And the guy was very friendly and easy to work with.

 

[calax]

ATK, and Hi everybody, my first post here.

Someone recently recommended talking to Trade Tech Institute; I searched and found these reviews about them. Thanks for the reports. I agree with you that I'd skeptical about their sales approach. I have not gone through all the info in their web sites, so I can't comment on their graphical representation on system returns. I will search some more but at this time I don't think I will call them.

I had signed up long time ago to receive monthly results from www.striker.com on their top performing mechanical systems. I noticed that the top systems come and go from month to month. I suspect some may be highly optimized thus would not work well when market conditions change. So I decided not to trade any mechanical systems unless I have enough capital to trade a whole bunch of different systems at the same time, hoping the combined return would be smooth with minimized combined net draw-downs.

 

[Jack_J]

Let me chime in with one more "got a call from..." What I was able to glean from the caller (Nancy, didn't seem knowledgable to be a rep that others spoke with) was their system averages $2,500 per month, based on a $15k account size. Minimum to start is $5k, though. I asked about draw-down and she said if I were interested they'd set me up with a rep so that I were online and on the phone with him and I could see the results, incl. drawdown then. I asked if they were registered with NFA, and she didn't know. Their website has the NFA disclaimer, so I called back and was told they aren't, since they don't manage money. I asked why they had the disclaimer, and he said they still had to. I asked who says so, if they aren't registered, and then he said, "Well, we don't have to, but we do anyway. Even though we aren't required to, we like to abide by the same rules" or something to that effect. So, I prepped him for the next time someone asks! I asked who the principals in the company were, so I could look them up, and he said he'd have someone call me back. But let slip that he'd have Jack Gold call me back. Looking him up, I found this listing at NYU, where it shows a resume of system development for some companies. www.math.nyu.edu/ms_students/jg597/JackGold_cv.doc
Looking up Jack Gold at the NFA site shows that name - not sure if the same one - as a floor broker in '83, under the name Jake Goldstein. FWIW... Re: results, the guy I spoke with also said they'd go through the website with me so I could see their results. Of course, unless it's a broker statement that you can confirm... Bottom line, I don't know, but to be honest, in futures $2,500 a month on a $15k account (3 contracts, maybe?) isn't impressive. Even at 2 contracts, that's 1 point a day.

 

[WARDTX]

Hello, I'm a new member yesterday....Thanks for letting me join....this looks like a very helpful/informative/enjoyable and well run forum.

I'm a newbie....semi-retired and interested in creating a new "career"....have always been interested in the markets etc...etc.

At the moment I am interested to hear any feedback that you might have regarding "The Trade Tech Institute" and their trading products etc....thank you in advance for any feedback that you offer. I've been contacted by The Trade Tech Institute and I am curious enough to want to know more before dismissing them or handing over money for their trading systems.

Thank you,

Lee

Lee,
I have been investing with Trade Tech for a year. When I signed up they guaranteed that I would at least break even after the 1st year or I would get my investment back.
I waited 6 months to start investing, in the last 6 months I have lost over $8000. They are now saying that the system made more than $8000 the first 6 months, but they will
not prove it. In my opinion, this is a scam until they live up to their contract.

 

[mbvonal]

Just did some research myself on "The Trade Tech Institute" which is what the email from the salesguy had listed - and came up with info that links it to Spyglass Equity Systems on a website called trustlink.com. Sounds like big-time bad news to me. One guy who thought his mother had made a bad investment with Spyglass later found her credit card charge was to "Trade Tech Institute Inc.".

 

[HBSuccess]

I have been dealing with Trade Tech Institute over the last 10 months starting on September 17, 2009. I was cold called by a fellow named Michael regarding my interest in investing. He asked me rather intrusive questions regarding what and how I invested. I made sure I knew what company he worked for. He said Trade Tech Institute. I asked where they were located and he said California. They are out of Hollywood California. He was polite enough but after he explained they had an automated trading system I clearly told him I did not have the time to hear about it and that I was not interested in their system. He went on, "why not" and that he would call back later or have someone else call me back. I again said No Thank You, I don't want you to call back, please don't.

The next day September 18Th, 2009 I received a call again from the Trade Tech Institute. This time it was from Austin. I said, What's up? He said, "Not much man, I'm looking for someone with a little more life" and Hangs up! I was offended but glad the call was over.

Every week or two I receive a call from someone at the Trade Tech Institute for the last nine months to this day June 17Th, 2010. I have "so many times" asked them to stop calling and remove my name from their list. Apparently they just refuse to give up. Just last week I received a call from Austin again. As soon as he heard my voice he hung up. I remember his voice like it was yesterday and I was sure he remembered my voice when he called again and hung up. Hearing his voice made me angry.

Finally today when I confirmed that the caller was from Trade Tech Institute in California. And he said yes in Hollywood. I lost it and swore at him! He started to say wait a minute there is no reason to get angry. And he started to say, "if you are nice...., I cut him off and swore at him some more before I hung up. Please realize that over the months I have made it abundantly clear that there was no way I would ever do business with their company, especially after the call I received with what this Austin guy said to me before he hung up on me. I had just had surgery a few days before his rude call.

So now I am fighting back! I have there calls recorded and am leaving that call on their answering machines on the toll free number they have listed on their web site.

A reputable company does not do what Trade Tech Institute out of Hollywood California does. I'm a business man and really do not have time to waste like this. But when push comes to shove! I guarantee you that Trade Tech Institute will lose.

 

[ddr1826]

"Trade Tech Institute"

Run Google Earth on this address:

264 S. La Cienega Blvd Ste. 1122
Beverly Hills CA 90211

I didn't find anything that looked like an institute. They called me asking for $8000 up front just to register. This is lost money, not invested and not returned. Any more money you choose to give them is invested for their claimed hypothetical returns.There are 3 plans, each with a minimum amount and each in different markets or so i was lead to understand. The actual investments were not defined. I was sucked into one of these scams once before. It had all the guarantees of success with the one caveat that returns had to meet a standard or they were a loss. They made money and I didn't. For all I know, these may be the same people. That was the price of my education. Finally, the best I've ever heard" "If you place 12 experts in a room, you'll get 12 different opinions. Why should I pay for any of them?"

 

[Jack_J]

Re: "Trade Tech Institute"

Run Google Earth on this address:

264 S. La Cienega Blvd Ste. 1122
Beverly Hills CA 90211

I didn't find anything that looked like an institute..."

LOL... Institute..Boiler Room, same thing