Star Trader - MCI technologies
- Thread starter Veronica Harriso
- Start date
- Watchers 10
For Veronica and others continuing to search for and be lured by 'instant riches' marketing hype:
there is no software/system that will give you a trading fortune.
At: http://trader.online.pl/MSZ/!-MSZ-index-en.html there are 143 free MetaStock trading systems/Experts plus 815 indicators.
MetaStock 10 rt via Equis, $100-250 per month, purchase $1395/1695.
The free MetaTrader 4 is for trading forex pairs primarily and at the Yahoo MetaTrader and other forums there's now hundreds of trading systems/Experts and indicators available for free; members are continually inventing, testing and improving such systems, post backtesting and their individual real trading results.
AmiBroker: http://www.amibroker.com/ can also be used to program trading systems tho I don't know there's as many systems available as MS and MT, however their realtime/Professional program is an economical $229.
What's interesting about MT4, perhaps being a 'new' program, free of charge and developed for the 'new' forex trading, together with the Internet ethos, is it's resulted in a very open interchange of trading system ideas and coding collarboration. New commercial trading systems are noticed early, reviewed by members and often re-created by some of the many expert forum members.
While the above examples of 'trading system programs' particularly the dedicated multi thousand pound/dollar programs seem to 'do it for you', such programs do not do anything one can't do oneself.
In MS, AB and MT4 for instance one could use one of the simplest trading systems codings —
crossing Moving Averages.
There's an endless variation of this system together with an indicator or two because it is so simple.
While some software is able to display in a particular way an indicator's response to price movement, will change color as the price rises or falls, all the crossings of the MAs and rise/fall of an indicator can be seen on the chart — without the necessity of system coding —
having 'Buy' 'Sell' or up/down arrows appear on the chart or sound-alert beep you isn't going to make the trade any more or less profitable.
Many programs have a utility to scan crossing MAs etc setups in a portfolio of stocks etc, there's even free websites doing that and more. Depending what one wants to trade one can use free online services/charts if the broker doesn't provide basic realtime charts, and there's the free: http://www.quotetracker.com/
The point of all the above is that you can easily and quickly — and really ought to,
learn to trade profitably by educating yourself about basic trading and money management methods and systems, and all the information is freely available here on T2W, the net, your local library.
There is no software/system that will give you a trading fortune.
there is no software/system that will give you a trading fortune.
At: http://trader.online.pl/MSZ/!-MSZ-index-en.html there are 143 free MetaStock trading systems/Experts plus 815 indicators.
MetaStock 10 rt via Equis, $100-250 per month, purchase $1395/1695.
The free MetaTrader 4 is for trading forex pairs primarily and at the Yahoo MetaTrader and other forums there's now hundreds of trading systems/Experts and indicators available for free; members are continually inventing, testing and improving such systems, post backtesting and their individual real trading results.
AmiBroker: http://www.amibroker.com/ can also be used to program trading systems tho I don't know there's as many systems available as MS and MT, however their realtime/Professional program is an economical $229.
What's interesting about MT4, perhaps being a 'new' program, free of charge and developed for the 'new' forex trading, together with the Internet ethos, is it's resulted in a very open interchange of trading system ideas and coding collarboration. New commercial trading systems are noticed early, reviewed by members and often re-created by some of the many expert forum members.
While the above examples of 'trading system programs' particularly the dedicated multi thousand pound/dollar programs seem to 'do it for you', such programs do not do anything one can't do oneself.
In MS, AB and MT4 for instance one could use one of the simplest trading systems codings —
crossing Moving Averages.
There's an endless variation of this system together with an indicator or two because it is so simple.
While some software is able to display in a particular way an indicator's response to price movement, will change color as the price rises or falls, all the crossings of the MAs and rise/fall of an indicator can be seen on the chart — without the necessity of system coding —
having 'Buy' 'Sell' or up/down arrows appear on the chart or sound-alert beep you isn't going to make the trade any more or less profitable.
Many programs have a utility to scan crossing MAs etc setups in a portfolio of stocks etc, there's even free websites doing that and more. Depending what one wants to trade one can use free online services/charts if the broker doesn't provide basic realtime charts, and there's the free: http://www.quotetracker.com/
The point of all the above is that you can easily and quickly — and really ought to,
learn to trade profitably by educating yourself about basic trading and money management methods and systems, and all the information is freely available here on T2W, the net, your local library.
There is no software/system that will give you a trading fortune.
If there was, it would cost a fortune.
What many people do not realise when dealing with "trading system" vendors, is that once you have paid several thousand to an organisation like MCI Star Trader, they cannot lose. Only the purchaser can, and will. They have already scored their hit, and have absolutely no investment whatsoever in your success.
If their system was genuine, they would licence it to you, and take a cut on all future trading profits.
Instead, they take your money, and move onto the next sucker.
(Not too dissimilar to how the "with profits" (actually "with losses") investment industry works. They too cannot lose. They take your capital, and decide how much of it they will give back to you. Once again, they cannot lose. Only you can)
What many people do not realise when dealing with "trading system" vendors, is that once you have paid several thousand to an organisation like MCI Star Trader, they cannot lose. Only the purchaser can, and will. They have already scored their hit, and have absolutely no investment whatsoever in your success.
If their system was genuine, they would licence it to you, and take a cut on all future trading profits.
Instead, they take your money, and move onto the next sucker.
(Not too dissimilar to how the "with profits" (actually "with losses") investment industry works. They too cannot lose. They take your capital, and decide how much of it they will give back to you. Once again, they cannot lose. Only you can)
leicthjohn
Newbie
- Messages
- 1
- Likes
- 0
Attend free seminars or trading classes first
Dont bother with these unless you get yourself some background knowledge there are plenty of good seminars and classes. These guys are good for a laugh though, managed to get them to the stage of "my cousin has recently been made redundant and wants to go 50/50 split on the price of the software, I made xxxxxx last month alone and I would not offer to my family if it did not work.
Went on to explain that I needed the cash for something else only to be advised to take out several credit card accounts on Interest free terms and trade with that. At that stage I stopped seeing the funny side.
To advise anyone to run up credit card debts to trade with is beyond belief
If in London attend the WINS seminars they are very well run and informative.
Trading is more fun than a pension plan or a bank account so don't be shy just remember to Say "I KNOW"
Veronica Harriso said:Has any one bought this soft ware??
Dont bother with these unless you get yourself some background knowledge there are plenty of good seminars and classes. These guys are good for a laugh though, managed to get them to the stage of "my cousin has recently been made redundant and wants to go 50/50 split on the price of the software, I made xxxxxx last month alone and I would not offer to my family if it did not work.
Went on to explain that I needed the cash for something else only to be advised to take out several credit card accounts on Interest free terms and trade with that. At that stage I stopped seeing the funny side.
To advise anyone to run up credit card debts to trade with is beyond belief
If in London attend the WINS seminars they are very well run and informative.
Trading is more fun than a pension plan or a bank account so don't be shy just remember to Say "I KNOW"
MCI Star Trader
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.
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.
james copeman
Newbie
- Messages
- 1
- Likes
- 0
Hello, i have recently been offered this Star Trader program - I am rather worried about the hard sell, negative feedback plus the fact that the price has dropped considerably. Is anyone using it at the moment sucessfully?
Thanks
Thanks
RichardDale
Active member
- Messages
- 117
- Likes
- 0
MCI Star Trader was originally listed as Tomato Technologes (ASX:TOM) on the ASX in January 2001 at an issue price of $0.20.
It changed its name to Asian Pacific Limited (ASX:AAS) in May 2007. They had around $680K of cash left at 30 June 2007.
It is restructuring itself again, and will change its name again to "Associated Equities Holdings" (at a cost of $500-$800K) and will be raising $2 million to cover that plus some working capital. They announced a half year (July 2007 - Dec 2007) loss of $6 million back in January 2008 too.
Lots of company announcements describing this here:
AAS Company Announcements
AAS Company Announcements
Further interesting information here:
http://www.vcat.vic.gov.au/CA256902000FE154/Lookup/decisions/$file/law_v_MCI_technologies_pty_ltd.pdf
ASX:AAS last traded at $0.022 on 17 April 2008:
Price Results
It changed its name to Asian Pacific Limited (ASX:AAS) in May 2007. They had around $680K of cash left at 30 June 2007.
It is restructuring itself again, and will change its name again to "Associated Equities Holdings" (at a cost of $500-$800K) and will be raising $2 million to cover that plus some working capital. They announced a half year (July 2007 - Dec 2007) loss of $6 million back in January 2008 too.
Lots of company announcements describing this here:
AAS Company Announcements
AAS Company Announcements
Further interesting information here:
http://www.vcat.vic.gov.au/CA256902000FE154/Lookup/decisions/$file/law_v_MCI_technologies_pty_ltd.pdf
ASX:AAS last traded at $0.022 on 17 April 2008:
Price Results
Just came across this thread. I received their brochure in august 2003 ( i still have it in the drawers). I remember phoning them up and working out a payment plan with them as i didn't have the full cost. I am so glad that at that time i didn't have enough money to go ahead and purchase it outright. I had just started out new and their advertising made it look so easy, silly me.
To cut it short i remeber telling them take a monthly payment from my account of about £200. Then i said, that i would pay you in full when i have made what they claim within a few months. They said no. It was at that point that i was put off. Looking back now i can laugh at how naive we can get sometimes.
To cut it short i remeber telling them take a monthly payment from my account of about £200. Then i said, that i would pay you in full when i have made what they claim within a few months. They said no. It was at that point that i was put off. Looking back now i can laugh at how naive we can get sometimes.
