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  1. #1
    Join Date
    Oct 2005
    Posts
    1

    Does anyone know abt star trader?

    Star trader...They pomise to teach you how to trade in stocks successlly in any kind of market using their 5-point strategy...

    I think their website is www.startrader.com.

    :rolleyes:

  2. #2
    Join Date
    Oct 2005
    Posts
    134

    Re: Does anyone know abt star trader?

    Yeh ive seen it and used it no good really a long term thing , need alot of capital behind you , also need to know what your doing not just what it does.Could be beneficial for some I suppose like the forex software "vantage point" which alot of people including myself think is a waste of money.Really a worthwhile investment in learning to trade stocks , futures , currencies etc would be doing some training in it ie:economics degree :D

  3. #3

    Re: Does anyone know abt star trader?

    Really a worthwhile investment in learning to trade stocks , futures , currencies etc would be doing some training in it ie:economics degree
    Funny you should mention that. Having an economics degree myself (a course of action I recommend to no one) I can tell you that economists do not believe in actively trading stocks, currencies, commodities or anything else. The fundamental axiom of financial economics is that no one makes excess market returns. To believe otherwise as an economist would virtually be heresy.

    There are fund managers with advanced degrees in addition to CFA status and years of trading experience who would likely *kill* for a "5-point strategy" to beat the market. If not kill, they could offer millions, and it would be worth every penny. Star Trader wouldn't have to sell the program for a couple hundred or thousand to the disgruntled massess who are hoping to leave their boring jobs behind for an exciting career as something like a day trader.

  4. #4
    Join Date
    Oct 2005
    Location
    Scotland
    Posts
    11

    Re: Does anyone know abt star trader?

    I had dealings with MCI Technologies, the company who market the startrader software. Must admit, I was very interested. They also made an appointment for the chap to give an on-line demonstration with a commentary as he went through it. It was good because he answered all my queries there and then over the phone.

    Then a HUGE intake of breath. It would cost almost 6,000.00 for the software and the on-going support. 6k for a bloody CD? Not on your nelly puff! Anyway, there was a cooling off period and the chap would call me back within 7 days.

    I was just about to bite the bullet and sign up but I stopped and asked the chap how much would I need to invest to make, say, 1,000.00 a month? At least 30,000.

    So, didn't go ahead. But the actual software is top-notch!!

  5. #5
    Join Date
    Oct 2005
    Posts
    134

    Re: Does anyone know abt star trader?

    Well the software may look good the way its demonstrated but when your on your own using your real money it is a different story.And skeptik101 not all with economics background choose to be economists, they go on to many varied fields of employment one of which my freind does, losing other peoples money :D :p However the thought that someone from everyday life could purchase that program and make considerable returns is just what it is a marketing strategy.Theres 2 ways you can look at this one being they say its so expensive as it is so good and makes you so much money,the other being they dont sell many of them so the price needs to be higher to make a return.Remembering theres the software designer , marketing company , and the agent who need to be compensated along the way.I do not beleive you can make 1k a week from 30k relying soley on a software program its just not realistic and consistent.I know people who have made 1k a week form 1.5k trading forex but eventually they lose it all as the greed gets to them.I trade forex myself but do it very small and very slow I have found this non greedy way to pay off long term.The truth is people that trade these markets all the time and study it and predict it end up losing more than people who do it now and then this I have seen for myself.Thats the thing with star trader you need to be fully into it not just log in once in a while see market going up open some trades and make some extra cash.People problem with these things is they dont know how to make some money get up and walk away they turn it into gambling by trying to make more. :cool:
    Last edited by TheCableGuy; 11-03-2005 at 12:21 AM.

  6. #6

    Re: Does anyone know abt star trader?

    MCI Technologies and the star trader are simply a rebadged "BLUE CHIP TRADER " from micro corporation.

    The company is run by Craig Duffy - A past snooker champion that sold pool tables for a living before running this publiclly listed copmpany (great experience).

    The other key player is Jamie or Jamison Pickering - son of Larry pickering and the proud owner of at least 2 horseracing software packages strip clubs and nightclubs on the gold coast. Jamie didnt even complete school.

    The name "tomato Technologies " wich is the listed entity on the australian stock exchange, came from Jamies fathers failed tomato farm. Must have know how this one would turn out also.

    Why can people see that the marketing material that they receive is basically the same with different company names. Have a look at all the material you have been sent over the last 12 months and see how much alike they are.

    There is NOVA horseracing that even uses the same graphics as mci technologies does in their brochure. WAKE UP PEOPLE. Doesnt it click that you get one piece of marketing and then another 3 or 4 from different companies all selling software to make money for you.

    While there are people out there that want to beleive that you can sit on your bum all day and make a living in 20 min there will always be operaters out there that are more than happy to take their money.

    I WOULD STRONGLY SUGEST DOING YOUR HOMEWORK ON THIS ONE. I KNOW THE PRODUCT AND I KNOW THEW PEOPLE BEHIND THIS SYSTEM AND ITS ALL BAD.

  7. #7
    Join Date
    Oct 2005
    Posts
    134

    Re: Does anyone know abt star trader?

    ITS ALL CRAP beleive me you dont need it to make money it wont help.
    Im coming over with the stolen Karaoke machine.:rain:
    Do you want somebody to love do you need somebody to love.:rasta:

  8. #8

    Re: Does anyone know abt star trader?

    they were in Bloomington, MN and this guy named Jimmy started telling you for 3000.00 to start this stuff. Then he goes into 200.00 a month on your CC. I ask one of his helpers if this was the case anf he no It's like 20000.00 for the stuff. I feel they were misleding you on this stuff. I asked if there was free CD and he said no , but in the email it said a cd for attending. I feel they tricked you into this stuff. Beware.

  9. #9

    Re: Does anyone know abt star trader?

    Star Trader is one of the biggest scams going. They made contact with my father, who is an old aged pensioner and attempted to pressure him into buying their product. When he refused the person on the other end of the line an Irish woman named Marie became really irate and told him not to WASTE HER TIME. Not only was she rude when she realised that she was not going to get my dad's money but it was like she was so desperate she resorted to shouting down the phone. All I can say is anyone who gets any post from this company STAR TRADER or MCI TECHNOLOGIES stay well away from them. They are just after your money. They are not registered at Companies House, so far as I can see and you cannot contact them direct it is their representative who calls you, once they have your number. If that isn't dodgy then I don't know what is. Are there other people out there with a similar experience. I'd be glad to hear from you.

  10. #10
    Join Date
    Nov 2005
    Location
    australia
    Posts
    1

    Re: Does anyone know abt star trader?

    Hi there yes we paid for the Star Trader. Just a lot of money wasted. Sitting in the cupboard.

  11. #11
    Join Date
    Dec 2005
    Posts
    1

    Re: Does anyone know abt star trader?

    I just finished the second day of a 3 day sales pitch from these folks. They pitched the Star Trader software and 8 training courses.

    If you take all 8 courses, it will cost you around $51K which includes instruction, the software, and mentoring. If you sign up on the third day of the presentation, you can get all 8 for around $31K. They also offer packages with fewer courses at lower discounts. Regardless, they are all expensive.

    The speaker at this "event" was as good and as persuasive as any I've witnessed. However, he began the first day (with periodic mention thereafter) by speaking of his faith and wrapped up the second day with a tear jerker of a story about the death of his father. I was certaintly moved and have no reason to doubt his pain, but it seems inappropriate for "use" during a sales presentation.

    I'm not attending the third session because I can't afford their product right now and, based on the first two days, I would expect some high pressure salesmanship. Still, I'm intrigued.

    I wonder if the software, accompanied by some hands-on training for the inexperienced investor, might help achieve the desired results. Of course, if that were the case one would expect an abundance of testimonials to that effect. I can't find any.

    Has anyone taken any of the courses or know anyone who has, and if so, what were the results?

  12. #12

    Star Trader & the "bogus?" independent website...

    Star Trader uses high pressure sales to sell an overpriced product - go for MetaStock or ShareScope if you are in the UK.

    ShareScope has a download demo:

    http://www.sharescope.co.uk/


    If you have bought Star Trader, don't despair. Use John Murphy's Technical Analysis book (the big one) to help you find your way and you should be able to trade with a degree of profit. But you will need a decent amount of starting capital.

    MCI refer you to a website

    http://www.ismassoc.com/index.html

    Which says it is independent reviews, but I think is run by themselves.

    Go Gecko & Star Trader are linked.

    Check out the experiences on this weblink:

    http://www.grumbletext.co.uk/vt.php?...laint&start=50

    There has been trouble in the UK because of advertising material and sales techniques.

    Good luck - and do sign up with the "independent" website and start posting and see what happens!!

  13. #13

    Star Trader & ISMA website

    My suspicions about this website have been confirmed.

    If a forum member starts to raise any issues that might put Star Trader in a bad light they are asked to move on and the relevant postings deleted.

    The ISMA website

    It is a very slick marketing tool, though fundamentally dishonest.

    If you feel moved to strike a blow for the truth then do visit! :cool:

  14. #14
    Join Date
    Apr 2006
    Posts
    613

    Re: Does anyone know abt star trader?

    So it's a scam alright. And oh my, what awful website...

  15. #15
    Join Date
    Jul 2006
    Posts
    11

    Re: Does anyone know abt star trader?

    Nice to see this has been spotted here.

    I'm not sure you could call it a scam, exactly. As far as I've been able to determine, the software product really does work. It's just horrendously overpriced and is misrepresented in the fluff advertising - it gives an impression in the brochures of being a black box money making machine that spits out recommendations. In reality, you set the criteria so it will only work if you know what you're doing (and if you know that, then as pointed out above, there are much cheaper alternatives)

    The marketing tactics are *extremely* dubious. Highly aggressive sales staff, a brochure big on promises but almost entirely devoid of detail, a "confidentiality agreement" that must be signed before you can find out more (this may have been dropped), a high price which is highly variable depending on the apparent interest of the buyer, expensive after sales maintenance costs...I could go on.

    However, it's a listed company and has been listed for a good long while. It's a legitimate product and company, just one of highly, highly dubious value.

  16. #16
    Join Date
    Jul 2006
    Posts
    4

    Re: Does anyone know abt star trader?

    I just completed one years worth of training from the Wealth Intelligence Academy, which along with Star Trader is part of the Whiney Education Group. I went into the Star Trader program with the intent of learning how to spread trade with options and definitely feel I have accomplished that. Star trader software is not black box trading, it is just a tool to help scan the market for setups for stock trading or option strategies.

    I think the PIT training is excellent material, taught in a easy to understand manner and I couldn't be more satisfied with the program. I made my first trades (bull call, and bear put) last August and within six months had traded every setup the PIT class teaches, (25 option strategies). After my mentorship in February with a former AMEX floor trader, I even went beyond that into Iron Condors.

    I was very surprised how easy it was to make thousands of dollars at trading options, but unfortunately it is even easier to lose thousands of dollars trading options. At this point I am just over break even, but since the beginning of May I am up 18%, whereas the markets are down around 5%. I am at the point now I know I can make money in any market condition, have my own trading system and have complete confidence that I can continue to make money at trading. It took almost a year to get to this point with a lot of failure and frustration along the way, but overall it has been a lot of fun and very rewarding experience having gone through the WIAA training classes and mentorship. :)

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