Got a very flash 20 page brochure through the post from MCI Technologies with a SPECIAL OFFER on how I can make my computer work for me, exciting opportunity, worlds largest, etc.They have developed 'the worlds most user friendly computer program' to help me make money on the stock market.There is a classic bit in their brochure where they ask 'Now your probably thinking if we've invented this amazing program, why would we be selling it?' The next page has 'Good Question!' then the next page has 'Oh, and by the way this easy to use program is called Star Trader.' And then carry on to not answer this 'Good Question!' at all.They have a very prominant free phone number but their other contact details in smaller print:Registered Office: 5th Floor, 388 Oxford Street Mayfair, London, W1C 1JTVat No: 771 30 77 33Company Reg No:3729934Checking on Companies House they are registered with above details, they've been about since 1999 but have had two previous names: PIPECLAUSE LIMITED and MICRO CORPORATION INTERNATIONAL LIMITEDAnybody heard about them before?cheers
Yes, been using their system for 4 years, find it excellent & have made a lot of money with it.Recommended it to my accountant friend but he was worried about the risk.Regards,N. ;-) PS. Part of Tomato Corp. of Australia.
This has been mentioned before on TMF.How much would you expect someone to pay for it?Could it be bought cheaper on the web?
Some users who contacted BBC Watchdog were not impressedhttp://www.bbc.co.uk/watchdog/reports/financial/financial_20040427.shtml
The programme has been improved since Watchdog days and as a user you can now analise the market without setting your testing periods which was one of the major criticisms previously. Now you select the testing metod and the programme reveals the stocks for that day showing CMA, RSI etc. All you have to specify is your risk filters i.e. price range, minimum moneyflow traded etc.To talk about it in the same breath as the FSA I find ridiculous, the programme is a piece of software not a financial advisor, it is analysing historical information, that is fact not opinion. The programme analises this historical data looking for patterns and statistical significance. To anyone who knows anything about charting, suuport levels are key, as are volumes. A price movement is not a true price without volume and the key is to get in before the crowd i.e before the stock hits its rebound level i.e support level where buyers rush in, because the stock is unlikely to go any lower.
As an addition to my previous post I did not mention that the programme is also designed to alert shares that heve been trapped in a narrow trading range that show signs up an upward break-out.
acs001,You are clearly a very experienced trader, judging by your previous postings over the years. But the MCI Technologies Star Trader is aimed at complete novices, who know nothing about chartism, narrow trading ranges or break-outs that you have mentioned.According to MCI's sales literature:1. if you think investing is complicated you are wrong; we have made it simple and accessible to everyone.2. we'll show you just how easy it is.3. how to make money on the stock market is no longer a secret.4. Star Trader offers 'everyone the opportunity to participate in stock market wealth.'5. It is 'easy to use, with no special skills requirements'.6. 'We've done all the work for you and presented it in a simple, easy to use program that anyone can understand'.Advertising even gives the impression you can use Star Trader for just a few hours a week, with no other job, and it will be your oen private business and make you wealthy.Well, if it's all that easy, and absolutely anyone can operate it, why does Star Trader come with a 192-page User Manual, some of it quite mind boggling and definitely not for novices, plus a separate 72-page book about Chartism?MCI Technologies Limited may be British registered and have an address in London, but essentially it is Australian. Its company secretary is Ivan Befeki, who lives at a Post Office Box number in Surfers Paradise, Queensland, and its sole director is Craig Duffy, who lives not far away in Bonogin, Queensland.MCI Technologies is 100 per cent owned by Tomato Technologies, also from Surfers Paradise in Australia. And if you look into Tomato itself, you'll find Jamie Pickering. He used to work with his father, Larry Pickering, selling computer programs which were supposed to predict horse racing results. Some of the advertising was very, very similar to that used later to sell stock market programs.Dad Larry - fascinatingly - was also one of the people behind a British company called Interdata which was very active in the mid-1990s. Guess what it did: it sold a computer program which was supposed to pick stock market winners. In fact, the program didn't, and Interdata went into liquidation, leaving a lot of disappointed punters out of pocket.acs001, I am glad you are able to make Star Trader work for you - but do you still fell that just anyone can do it? And are you happy with the company's background? Or did you not know any of this until now?regards,Alex
AlexI was not aware of the background information that you quote other than Tomato Technologies is a company quoted on the Australian Stock Exchange. In fact you can obtain free data downloads if you become a shareholder with so many shares (i think 5,000 but would have to check.)Turning to the programme itself, tell me any software programme that does not have a manual. At lease you get a solid manual rather then having to print your own from a PDF. The manual explains the screens and commands which any software must have to operate.The programme is simple to opearate. Once you set your filters for risk you press a button and analise the market; n.b you do not have to set any filters, but then the programme analises all the LSE and AIM including 'penny shares'. The programme produces a list of suitable stocks for investment. If you want to invest contact your broker with chosen stock/s. Depending on volatility in the market will the number of recommendations vary e.g in the summer dulldrums the number of recommendations maybe little or even none, but in markets with rapidly changing prices up or down the programme will produce recommendations. You can then look at the charts, price volume history, newsflow etc to evaluate further or you can forget this and just go with the programme recommendations as ranked best historically.In my opinion this is simple. If I have a criticism it is to do with exits. I think to make money by compounding as in their literature you have to trade on margin with many frequent trades. The programme alerts you more to exit based on percentage profits and stop losses, rather than taking little and often. Another more advanced feature is that the programme will allow you to simulate a historical what if situation to see what results you would have achieved by investing in that chosen stock.Another necessary feature is the watchlist, which enables you to identify perhaps a weakness in a share's price, which may only be very short term and hence if their is no adverse newsflow, this may also represent a buying opportunity.From my previous posts you will see example of the alerts given, these are genuine and produced good gains.In conclusion the programme is expensive, lends itself to online dealing and with the power of compounding can produce spectacular results, but remember share prices react to newsflow and official announcements and no programme that analises the past can predict this.Regards.Anthony
I wished I had read all the things about Star Trader And MCI before purchasing this so called easy to use software. On there website it states 'It's far the best method - provided you know what you're doing" SO there goes this 20 minutes a day and put your feet up. Plus the hidden other costs they do not tell you about. I didn't know anything about the market.
HiIs this star trader thing a con or not there is so much varying advice help!!Thanks
Hi bridgec,Is this star trader thing a con or not there is so much varying advice help!!It's been covered in many threads, most recently over here:http://boards.fool.co.uk/Message.asp?mid=10454189&sort=whole
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