Star Trader by mci Technologies

Amanda said: "Hi I am new here. I use stockmarket software called star trader and I am wondering if there is anyone else in here that uses it? Just looking for others to talk to about software. Does anyone here use any sort of software or do you analyse the market by hand, so to speak. Anyway I am doing pretty good so far with star trader. Cheers Amanda"

chahinemm said: "Welcome Amanda to superior investors. i personally have never used any advising company or softwares for trading i have done most of it myself... Just out of curiosity what is teh cost and what is ur average return using the software... chahine"

misterjover said: "What features does Star Trader have that make it useful for either daytrading or long-term investing?"

Amanda said: "Hi Thanks for the welcome. I lease star trader for 950 p/a. i am averaging about 8% return per month so far but I am getting smarter and learning more as I go. It is not really suitable for day trading as it uses end of day data which gets added to the data base to analyse the market. It is more suited to short to mid term investments. Features, well the charting and advanced charting are pretty impressive. More indicators than you could ever possibly need but the scan market section is where all the work really happens. Cheers Amanda"

eddie said: "Hi Amanda and everyone I was cruising google and found this site. Good to find someone else that uses Star Trader. Have you done much work in the advanced charting? I am interested in the fibonacci arcs. Just learing (trying) what they are all about. Do you have any advice? Eddie"

ellied said: "Hi Amanda, Do you use star trader for the Australian Stock market, as I notice that it is designed for the London market. Ellie"

AliC said: "[QUOTE=Amanda]Hi I am new here. I use stockmarket software called star trader and I am wondering if there is anyone else in here that uses it? Just looking for others to talk to about software. Does anyone here use any sort of software or do you analyse the market by hand, so to speak. Anyway I am doing pretty good so far with star trader. Cheers Amanda[/QUOTE] Hi Amanda, Have just purchased Star Trader for the London SX. Totally new to this sort of thing. Is it easy to use? Does it truly do what it claims? I'm a little sceptical but curious. Regards, AliC"

MTM said: "I use CyberTrader, Pristine ESP, my owns software and Esignal. Will be dropping esignal soon though for their platform is getting way to pricy and their data is becoming unreliable."

mike/new said: "Hi all, New to this so excuse my ignorance, I am about to buy star trader to try the market but not so sure for some of the stuff I have read now . Has anyone got any advice. thanks."

dcarring said: "I am also interested in this software but am a little sceptical. Can others comment on the software if they have any insight into it? Thanks in advance"

davo said: "Hi everyone, I somehow stumbled across this forum while running a search on MCI, and thought I may jump in. I am going to purchase the star trader for the Australian stock market, already paid some towards it, but before I actually buy the software, I thought I would see if there is any info out there that would change my mind before I take the plunge. Haven't found anything so far, so it was interesting to come across this forum - you guys aren't paid to give favourable comments are you? - just kidding! Just curious if there is any information that you know now, that you would have like to know before you purchased the software, that MCI neglected to tell you? Cheers David"

Paul said: "Hello everyone I've received a mailing from MCI about Star Trader and generally I'm sceptical about anything like this. However, I'm quite prepared to be persuaded otherwise. Looks like some of the stock growths have been substantial, but what about the downside, i.e. losses?"

chahinemm said: "like paul mentioned there are many things that people should know or find out.. one is the downside the number or trade done lets say 10 what are the + and - and what is the avg and if its in the positive for you removing your transaction charges and initial investment over a long run. You should also ask about any hidden fees that might exist...(don't know if any exist) and how is the software is it easy to use or is it a pain to figure out.. just some of my taughts btw WELCOME TO SUPERIOR INVESTOR U all chahinemm :D"

felkin said: "I am always weary of such products. If it seems too good to be true it just might be. With so many scams these days it's impossible to sometimes differentiate between something honest and a scam. :confused: Sounds interesting though, I'll ask MCI Technologies for additional information. Just found this: [URL]http://www.pierpont.com.au/eco_Archives/default.cfm?behaviour=view_article&id=3303[/URL] It is a bit old (2000) but gives some info on MCI and "associated" companies. Looked up "Tomato Technologies", they are located in the same building as MCI Technologies. Coincidence? [URL]http://www.fido.asic.gov.au/fido/fido.nsf/byheadline/buying+and+selling+shares+using+computer+programs?opendocument[/URL] gives some tips on these types of programs. After reading this I will be asking for a full demo program."

davo said: "Well..the info on the fido site was interesting, as well as the info on Tomatoe tech, which i understand owns MCI, so my next visit is to the Tomatoe tech site, and check up on that company. There discuss issues about the links between the company and some of the racing systems promoted out of the Gold Coast, which is where these campaigns usually come from. Even more interesting was the mention of the company Dray Tec, which sounds very farmiliar to a company that tried to sell me a horse racing tips software. They were called Drayton Corp! I may keep digging a bit further now..thanks for the links to those sites, very interesting! David"

claret52 said: "Hi Amanda, I am in contact with MCI but they tell me they only sell the software. Where are you leasing it from please?They're asking a total of about Ł8,000 for the system. Thanks David"

chahinemm said: "one issue all you MCI and software system trader have to consider. in finance there is a theory stating that the market is efficient if analysed it says that if a lot of people follow a specific strategy for a x amount of time the market will automatically rebalance its equilibrium therefore not allowing any large maneuvering through preset systems... Just a word of warning is important. "know both side of the balance is a safe way to trade. - chahine " :D chahine"

Amanda said: "eddie No I have not really investigated the advanced charting as yet. I plan to. I have dabbled a little with trend lines ect and this seems pretty straight forward. ellied Yes I trade on the ASX but you can actually trade on multiple exchanges, you just have to pay for the data download. AliC Good decision, it is the best move I have made in my life I think. I find it quite easy to use, I think even if you are new to trading you will pick it up quickly. Does it do what it claims? Yes, so far for me. I am getting an average of 67% profitable trades. mike You will always hear negative stuff about anything. What is the saying? "winners do what losers don't" I would advise you learn all you can while paper trading using star trader and start real trading when you are confident. davo No there is nothing that I know now that MCI didn't tell me about. The company is up front as far as I am concerned. Paul Yes of course there are loses but my profits far out weigh the negative trades. felkin Star trader certainly is not a scam. It is making great profits for me. It is no secret that TMO owns mci technologies. I was told this by the sales people. (I own some TMO shares and they have been having a good run lately) claret52 I was interested in the software quite a while ago but didn't have the money. I was contacted by the company again after some time and was offered the lease deal. That might have something to do with it. chaninemm If a large number of people were using the same methods to select a stock then wouldn't this produce a rally for that stock? I understand that in the long term the market would balance itself. Short term though this would be good. I don't see this happening with star trader any how as there are many variables that can be set by the user and I think it would be unlikely that every user would be doing the same analysis. Cheers Amanda"

Atlas said: "Hi All, I note you have star trader, but actually lease it ? I Have been offered it for $5900, and if I make more then 30K in the first 12 months it will cost me another $3k. How do you find it ? I used something similar a few years ago called 'stockmarket navigator' it seemed to work well but I held onto a couple of stocks too long and did my $$ .... You could trade in any value, but I concentated on 'penny stocks' ... I am close to buying, but am trying to find out as much as I can. ASIC actually took the owners of the stockmarket navigator to the high ocurt, thye now seem to have disapeared off the map... Anyone heard of this software ?? It seems so similar... Regards Atlas"

billyj said: "hi, just received a broucher in the mail from mci technologies about thier star trader system,how they got my posting adress i will never know,but anyway i thought i would check it out sounds too good to be true.They are offering the same deal $5900 up front and if i make $30000 in the first 12 months they want another $3000.Has anyone else apart from amanda tried the star trader?"

HappyHarry said: "You have to make a $30,000 profit to pay less?"

billyj said: "hi happy harry they will wave the 3000 dollars if you dont make 30,000.but if you do they want you to pay the remaining total of 8900 which the program cost."

mike/new said: "Well since my first questions I have purchased star trader and been paper trading for a couple of weeks with little success. I've had one loss 3 trades going backward and one new yet to move .The first 4 trades I anylised with cma the lastest with rsi. I think there is more to the program than I first thought. I would be interested in hearing from anyone else using the program."

Amanda said: "Hello mike What exchange are you trading on? Yes it is quite an extensive program and it can do a fair bit of analysis. What sort of parameters are you using ie volume, stock price etc ? I would be willing to give you a hand if you need it. Amanda"

mike/new said: "Hi Amanda, thanks for replying. I'm using asx, $1/$40, and volume of $300,000. I have been selecting stocks with 80% or higher profitable trades and stop loss, floating profit 10%, flat profit 40%. Any help would be much appreciated."

MorelandR84 said: "For some reason this post reminds me of the movie Boiler Room. Just the thought of everyone getting excited about what seems to be a sure thing. If you haven't seen boiler room, RENT IT. Its about the market in a sense, with a few other plots..... Everyone should really check it out."

HappyHarry said: "Thanks for the movie recommendation."

supper7 said: "I am doing some analyst fromthis is a new site. I think it is very good."

ilic said: "hi guys, sorry to dig up old threads but i'm interested in this Star Trader program too and i'm trying to read as many reviews/opions/articles etc as i can so i can make a reasonably educated decision about it. For those people that have bought it, hows it going? Glad you made the purchase? particulary those trading on the ASX. For those that didnt buy it, what made you reach that decision? Thanks"

doublechin said: "[QUOTE=ilic]hi guys, sorry to dig up old threads but i'm interested in this Star Trader program too and i'm trying to read as many reviews/opions/articles etc as i can so i can make a reasonably educated decision about it. For those people that have bought it, hows it going? Glad you made the purchase? particulary those trading on the ASX. For those that didnt buy it, what made you reach that decision? Thanks[/QUOTE] Like ilic am seeking help in determining the worthiness of Star Trader for ASX so very interested in your opinions."

bnd said: "I am new to the stock market and have just purchased star trader for the LSE. I was expecting to just be notified on what to buy and when to sell so I was disappointed to find that I have to input information first that I do not fully understand. I am very pleased to have found this site as I am now wondering if I have made the right decision and hoping someone could please give me some basic guidelines.Many thanks."

dodgyaus said: "No program makes money. The market makes you money. Do your homework ;) Stay clear of this and other money making ventures, but get yourself invited to their staff and top-team parties, because there's plenty of Australian tottie and loose women about. Some of them work hard, live hard and play hard while trying to hit targets. You don't expect these companies to survive, especially if they go for the big guns and break FSA regulations to get rich quicker (more outrageous claims, advice etc), not to mention ASA and DTI complaints pitted against them. So they tend to burn the candle at both ends socially and commercially, but they have a great deal of fun in the progress until it’s all over. Don’t buy the bloody program, work for them? :rolleyes:"

Amanda said: "Hi BND I would be happy to help you out. I am doing well with this software. It took me a little while to learn what goes on but I have the hang of it now. Have you imported the formula values yet? Send me a private message and we can exchange email address. I am sorry dodgyaus, you are totally wrong. This software does make money. It alerts me to trades that I would not have found otherwise unless I spent many many hours analyzing the market and the large majority of these transactions are profitable. Amanda"

ilic said: "well i was made an offer too good to refuse by MCI and i've bought the software...fingers crossed it does what many claim it can do! I 've read a lot of 'reviews' about this package and although there are many that say 'dont buy it, its a scam, it doesnt work etc etc etc' there are also many others such on this forum and many others forums from around the world that have bought it and are successfully using it. These are the people i choose to listen to because they dont gain anything by saying its a good product and that it successfully alerts them to profitable trades. The stock market has tonnes/gigs/loads of information, sorting through it all manually is near impossible, if this software helps me to analyse the market quicker and more efficiently then i'm confident it will help me pick good stocks to turn a tidy profit. I'm happy to keep people on this forum updated with my progress"

dodgyaus said: "Amanda I'm happy that you are making money, and can assume you don't work for them, because you are giving-out your private email address. Then again, maybe you’re just a friendly MCI person? Lets be straight about one thing, a software program cannot make you money. The markets make you money. A program can only assist you in making an investment decision to buy or sell based upon the probability or the likelihood that the stock price will perform similarly to its past records. Question: When you bought this program, what yearly return on your investment were you expecting, 1000, 100, 50, 10 or just 5 percent? After all, this program costs several thousand pounds of potentially wasted investment money? [QUOTE=bnd]I am new to the stock market and have just purchased star trader for the LSE. I was expecting to just be notified on what to buy and when to sell so I was disappointed to find that I have to input information first that I do not fully understand. [/QUOTE] Sorry, wrong decision! But hey, you might learn something about the markets in the process. MCI (Star Trader) would need to be FSA regulated to tell you when to buy or when to sell. They walk the regulative line (that many haven’t survived) by putting the responsibility on you to enter your own defined parameters. Here’s the catch, you probably were told this in your demo (or what-ever) that given an average 50% setup, they achieved X % over 1, 2 or 5 year period. They think of how much X needs to be when considering the cost of the system, given a moderate start-up balance, type of customer they want to sell to, before manipulating choices until they reach their defined return. In a nutshell, they are dishonest! This is why the logical conclusion of them becoming FSA regulated (if the program works why not?) will never happen, because they would have to be responsible for their customers. Think about it, if you have a system that makes money and simplifies stock choices, wouldn’t you become FSA regulated, take the relevant exams (really easy), and make a large fortune as the best advisory broker/software prediction house on the market. I mean, the returns they promise are far higher than what others can achieve through years of professional experience, so why not? They’ll give a reason to the above, but you’ll have to read between the lines of their slight of hand. [QUOTE=ilic]These are the people i choose to listen to because they don’t gain anything by saying it’s a good product and that it successfully alerts them to profitable trades. The stock market has tonnes/gigs/loads of information, sorting through it all manually is near impossible, if this software helps me to analyse the market quicker and more efficiently then i'm confident it will help me pick good stocks to turn a tidy profit. I'm happy to keep people on this forum updated with my progress.[/QUOTE] So would random walking the FTSE100. Talk to a regulated entity, not someone on the Internet. Yes, I totally agree with you. Professionals use Excel, or functionality within their pricing terminal. Excel costs nothing, and is far more powerful/simple."

DaveLexapro said: "[U]Amanda: [/U] I believe you work for MCI technologies. To follow all the post from months back up to now, and still be so positive about the program...please get real. [U]Dodgyiaus:[/U] I think you were spot on. Star Trader are unethical in the marketing approach, however I don't think they are the only culprits, nor are they the worst offenders. I have recently been 'hit up' by a sales rep wanting to sell me Star Trader. At first, she was mesmerising, very well spoken and very good at her job. Too often in my life, I have fallen into the trap of get rich quick schemes...but she was so compelling. Asked if I dabbled in the stock market? I told her I did, however, the past few years had been good and I was achieving 13-15% return p.a on my portfolio. Ha! she says, "With Star Trader, it will alert you to 15%+ profits monthly." She baited me!$$. *It automatically picks the stocks for me (using over 200 different indicators, where I put in all the parameters like RSI or CMA or [B]whatever the trader in custumer service tells me to utilise..[/B]only five are ever useful. *only take up half an hour of my time each night *stresses to me over and over again.....profit is compounded over each successful trade!(I'm going to get there quicker!) [B]Hang on a sec? I've been burnt before!!![/B][list] [/list] o I wasn't prepared to pay the $5900 straight up. I told her to wait up until I could form a better opinion regarding the system. For a couple of weeks I asked around and did as much research as possible about Star Trader. Fact is, apart from people's opinions there isn't much else out there regarding Star Trader. [U][B]Pros: [/B][/U] *Trading program for $5900 was going to make me money, better than picking stocks blind...trading profitably more often, yeh,yeh! *24hr Hour support of professional traders educating me, or simply telling me which parameters to apply to give me a better probability of a better trade. * I'm saving time and $3000 right? [U][B]Cons:[/B] [/U] *The rigidity of their sell stunk! I had to pay $500 refundable deposit for them to go through a demonstration of the program. This took about 1.5hrs and it showed me a dummy account where most of the profit was generated from a penny stock, something most of us have never come across. Now was I prepared to buy the program? *She gave me an example of one of her clients who, although could afford to buy the program, only had $2000 to invest, however over the past eight months was consistently able to achieve 15-20% per month, and that compounded, meant that they'd already paid off the cost of the program and more! Lets not go there.... lets stick with Amanda she gets about 8% per trade and she been on this site since January so about 10 months. Realistically, lets say Amanda started with $20000. That means you should have about $43,200(av monthly) in the bank. Which means that in three years, $320 000. Lets say $100 000 per year from $20 000 start. What about me? If I used my current investment funds of $150 000 and tried to achieve 8% monthly, compounded, then after three years I'm going to have $2.4million dollars. Wait, shouldn't this be a pro? *Objective information. What about ASIC? independent and generic comments about trading systems and warnings about the pitfalls involved. PLEASE check out this site...if you are contemplating buying it (fido/trading systems,etc)....and tell me if this program fits the dodgy image or what? [U][B]Star Trader Professional Trader:[/B] [/U] When I decided I wasn't going to go ahead and buy the system, I spoke to Mike, and he belligerently accuses me of wanting to start an argument, after I insist he qualify some of the claims regarding the program. (Remember, its $5900 straight up, before you can get the program or get advice from their professional traders). Mike then says, ""No one will give you a guarantee when buying a trading system! haha!" Fair comment, but apparently, you can't trial the program because they have had breaches in the past where people have been making copies and have been passing this multi million dollar piece of software when the company were leasing it out. So does that mean that so long as I pay $5900 then MCI technologies will disregard those who copy the program. What a load of crap! [U][B]Conclusion:[/B] [/U] Star Trader targets people like me. People who are ignorant of all thing which is trading. We are interested in analytical aspects such are RSI, CMA, charting or whatever. We just want to save time and make money, so it appeals to me because I want to get rich quick! ;) Decide for yourselves. As for me, I think a couple of free seminars and research would go astray. Penny stocks sound interesting. Something I dream to be, little today....the world as my oyster tomorrow!"

Amanda said: "Well Dave. It is not hard to follow a thread when I am emailed everytime a new post is made. I think just about anyone could manage that. Why wouldn't I be positive? I am making money and enjoying a fairly good lifestyle. Good luck to you :) Cheers Amanda"

LanceJ said: "[QUOTE=ilic]'ve read a lot of 'reviews' about this package and although there are many that say 'dont buy it, its a scam, it doesnt work etc etc etc' there are also many others such on this forum and many others forums from around the world that have bought it and are successfully using it. These are the people i choose to listen to because they dont gain anything by saying its a good product and that it successfully alerts them to profitable trades. [/QUOTE] What?!? While I'm not commenting on the software, your logic is backwards. The messages who claim to be successful users could be promotors of the company, employees of the company, etc. They benefit from more sales. It's the people who say it doesn't work and it's a scam that have nothing to gain by posting this as no financial transactions take place as a result of their negative comments. I don't know if you took a bit of logic that was used against your promoting this product in another forum and it was effective and so you are attempting to adapt that logic and twist it to fit your argument here or what. But by all means, if this is your logic, then yes, I recommend you get as much help as possible with picking stocks and using a program like this because with backwards logical thinking like this, you need some help with picking stocks. You got to be pulling my leg with that statement, it's too perfectly backwards."

Slayer said: "This thread looks like an infomercial."

bUrd said: "I've got Mitch from MCI going to call me tonight and give me a demo using NetMeeting over the internet. I've paid a $590 deposit and (understandably) he's wanting to close the deal. He's been incredibly patient and made many, many calls to talk to me, but I'm still definitely not convinced I want to spend the rest to get the software right now - I'd like to be a little better off with funds before paying the rest. What concerns me is the "just try it, you won't regret it" that I hear frequently. "What have you got to lose?" Well, I'm not exactly in the position to be happy to lose $5900 on a CD and some booklets! Not only the initial cost, but ongoing monthly costs involved. I'd definitely buy it if there was a 30/60/90 day returns policy. Naturally there isn't such a returns policy, and I can't use the software without paying for it all entirely. I don't see why I can't get a copy after paying the deposit, given the software is useless to trade in real stocks unless I'm paying the subscription! Let me play with the "fake" stocks, see if the program is what I'm after, then I'll happily pay the rest of the costs if I want to go ahead. Honestly, who buys a car or anything else of that value without driving or seeing it first? I'd love to hear from others, particularly anyone from Perth that has had experience with the system. I'm *not* interested in people who haven't seen or used the system and are the standard "oh, it's a scam, it can't work, my aunty's neighbour bought it and she lost her pension" screamers. Many thanks, Andrew"

DaveLexapro said: "[QUOTE=bUrd]I've got Mitch from MCI going to call me tonight and give me a demo using NetMeeting over the internet. I've paid a $590 deposit and (understandably) he's wanting to close the deal. He's been incredibly patient and made many, many calls to talk to me, but I'm still definitely not convinced I want to spend the rest to get the software right now - I'd like to be a little better off with funds before paying the rest. What concerns me is the "just try it, you won't regret it" that I hear frequently. "What have you got to lose?" Well, I'm not exactly in the position to be happy to lose $5900 on a CD and some booklets! Not only the initial cost, but ongoing monthly costs involved. I'd definitely buy it if there was a 30/60/90 day returns policy. Naturally there isn't such a returns policy, and I can't use the software without paying for it all entirely. I don't see why I can't get a copy after paying the deposit, given the software is useless to trade in real stocks unless I'm paying the subscription! Let me play with the "fake" stocks, see if the program is what I'm after, then I'll happily pay the rest of the costs if I want to go ahead. Honestly, who buys a car or anything else of that value without driving or seeing it first? I'd love to hear from others, particularly anyone from Perth that has had experience with the system. I'm *not* interested in people who haven't seen or used the system and are the standard "oh, it's a scam, it can't work, my aunty's neighbour bought it and she lost her pension" screamers. Many thanks, Andrew[/QUOTE] Hi Andrew, Here is a tip, ring the department of fair trading queensland and explain to them that you are concerned about a certain 'company' and suspect that you may have been sold something 'dodgy', and take their advice. They will direct where to look. You have my sympathies."

jasperg357 said: "Stumbled across this thread in reference to the Star Trader software, it cost $5900 in Australian dollars? Not sure what that is in U. S. currency more than a couple of bucks for sure. But it would seem to me if I owned some software that would let me make the kind of profits the company is claiming “BUT WITH NO GUARANTEE WRITTEN IN STONE” I wouldn’t be wasting my time selling it to the public I would using it to make those profits. They are in business to make money; apparently they can make more money selling the software instead of using it. And that should say a lot about there product"

BenHouston said: "[QUOTE=jasperg357]Stumbled across this thread in reference to the Star Trader software, it cost $5900 in Australian dollars? Not sure what that is in U. S. currency more than a couple of bucks for sure. But it would seem to me if I owned some software that would let me make the kind of profits the company is claiming “BUT WITH NO GUARANTEE WRITTEN IN STONE” I wouldn’t be wasting my time selling it to the public I would using it to make those profits. They are in business to make money; apparently they can make more money selling the software instead of using it. And that should say a lot about there product[/QUOTE] [b]5,900.00 AUD Australia Dollars = 4,312.75 USD United States Dollars 1 AUD = 0.730974 USD 1 USD = 1.36804 AUD [/b]"

jasperg357 said: "[QUOTE=BenHouston][b]5,900.00 AUD Australia Dollars = 4,312.75 USD United States Dollars 1 AUD = 0.730974 USD 1 USD = 1.36804 AUD [/b][/QUOTE] For that kind of money I would want some kind of guarantee, are a 30 day free trial if the program is as good as they advertise they should not have any problem with people buying it after testing the software."

davidba said: "I have been a trader for many years and this type of product I guarantee you will lose your money. The best way to learn is to go to the Library, find an indicator that makes sense to you and learn money management. However, I suspect that you will not heed this advice and go ahead and pay an exorbant fee and then lose money trying to work the system. How many people do you know personally that has made money using this high priced software. Stop and think about it, the only people making money on this software are the ones who can sucker you into buying it. Don't be the "a fool and his money will sone part"."

Nick said: "Hi guys, I'm new here and was searching the net regarding The Star Trader program like many others here. MCI approached me by phone. At first i thought it sounds good. I told them that I'm not in a financial position to purchase the program. They then offered me the $5,900 deal with $3,000 waivered if you make less than $30,000 in the first year. I must add I have mastered network marketing techniques in the past two years (which are top notch sales techniques by the worlds best) and i could see they were using these techniques quite well. The first thing they do is find out your wants and needs, then work on you from there..... (they used the 5 Allan Pease questions which I'm familuar with so cheekily i told them the next question they're gonna ask me before they did :P). Allan pease is a master in getting the potential buyer to talk themselves into saying 'Yes'. Personally I felt they were being too pushy. Phone call after phone call, persistently maintaining next point of contacts, etc, etc. Even after telling them I'm not in a financial position to purchase the program and telling them I'm not interested at this stagee, they were telling me what and how i should be doing things. I ended up saying thanx but no thanx, and the phone call was ended on negative terms. 6-8 weeks later i am contacted again with a $1200 trial offer and theres only 7 packages like this left. Do you wanna buy one? After 20 minutes of them not hearing what i want, i had to say thanx but no thanx I'm not interested at this time of my life. It was clear they were pushing a sale The salesman didnt even use the program himself. (Obviously, if its so good then why arent they using it?) Next time i'm gonna tell them where to go. So anyway, thats my story with StarTrader. Good marketing techniques. Since then I have read two books on trading and have a lot more to learn as a novice before i get involved in trading successfully. Nothing will come easy and such perfect money making programs simply dont exsist. If they did they everyone would be raving about it. After reading Amanda's post and being mutual here, I get the impression she is a manager or something with MCI Technologies the first half of this thread is positive which can easily turn the opposite with a few negative comments I wish her all the best and hope she is doing well with the star trader program btw, the second book i read and recommend from a novice's point of view is Chris Tates 'The Art of Trading' (2nd edition). It was refered to me by a friend who is an experienced trader and it has opened my eyes and made me realise lots of things i never realised before. Sorry for the ramble, I just dont like to see people get burnt."

Who869 said: "I have been using Star Trader by MCI Technologies for the last 12 months and I am extremly happy with the program. The program is designed to be a daily trading program and not a long term investment program. This means that you need to use Star Trader every day. Somedays you will just run the program and look at your profits, other days you will need to buy or sell depending on your alerts you have set. To be honest with you, I have not made much money out of the program in the last year. There are several reasons for this. The first being I was under capitalalised, I only started with $3000.00 to invest. This only allows you to purchase a couple of different shares and not vary your portfolio enough.The second reason was, I was being greedy. I had set exit alerts for stocks set at 25% profit and on several occasions (4 times) Star Trader indicated to sell and I used emotions (thought I new best), prices were still rising, why not hang on to them. On all of these times I failed to run the program and check the stock price for a couple of days. The program had told me to sell but I ignored it. What I like best about the program is everthing is built in to it, Advanced charting, links to online data, watch lists, your portfolio (indicates profit or loss instantly) and many others. I was sceptical about buying the program at first. But after using it I believe it does work. You can do everything the program does manually if you have some knowledge about stocks and the sharemarket, but it certainly takes a lot more than 10 minutes a day. The most important thing is once you have set your parameters in the program, use them and don't think you know best."

DaveLexapro said: "[QUOTE=Who869]I have been using Star Trader by MCI Technologies for the last 12 months and I am extremly happy with the program. The program is designed to be a daily trading program and not a long term investment program. This means that you need to use Star Trader every day. Somedays you will just run the program and look at your profits, other days you will need to buy or sell depending on your alerts you have set. To be honest with you, I have not made much money out of the program in the last year. There are several reasons for this. The first being I was under capitalalised, I only started with $3000.00 to invest. [QUOTE] Hi there, After twelve months using this trading system one would think you would have realised a few key things? 1. You are suppose to earn profits and they are suppose to compound. You paid thousands of dollars to utilise a multi million dollar piece of software they now dub a 'trading system'. 2. A huge part of the fee is also the guidance you are meant to receive for owning the system. So after 12 months why are you still complaining about your initial outlay? By now you should have made enough successful trades to be into the tens of thousands or hundreds of thousands profit....right? Sorry for the sarcasm :rolleyes: Look,there is enough information on the web about this mob, you just need to know where to look. Google for sites like this, ring the department of fair trading Queensland, Australia, read up about the founder of Tomato Technologies (parent company which is a listed company), and his 'estranged' father....who was criminally charged for selling a very similar type of program.....that was for a program that picked winners in the horse racing industry. At the end of the day you bought the program for a $3000 discount so you have managed to keep your total loss under $10000. At least it wasn't your life savings and you hopefully would have learnt from the experience."

faoileag said: "[QUOTE=AliC]Hi Amanda, Have just purchased Star Trader for the London SX. Totally new to this sort of thing. Is it easy to use? Does it truly do what it claims? I'm a little sceptical but curious. Regards, AliC[/QUOTE] Hi, Ali I purchased Star Trader and using it I lost all the money that I had previously made just using my own intuition and the financial press. I feel very sore about it because MCI wouldn't give me a refund on the purchase price. I hope you had better results with it than I did. Regards, Faoileag"

Bluesphere said: "I only wish I had done more homework before giving this company $2,200 toward Star Trader. Because now it looks like I have lost my money and thats a expensive lesson to learn and a lot of money to lose. Originally I recieved a brochure in the mail and because I was interested in investing I rang the company and spoke with one of thier sales people who assured me Star Trader was the thing to have if I was interested in Share Trading. There was no pressure on me to purchase the program at that time, so I paid a $200 deposit to hold the software until such times as I could afford to collect it. Then the situation changed a few months later when I was offerered a "special" to get the program. I could not raise the funds sufficient to pay it in full and so paid another $2,000 toward it, I thought I had done my homework, as I had checked with the ACCC and the ASX because MCI is a listed company on the Stock Exchange, but then I read an article in the Financial Reveiw and the alarm bells started ringing. SO a search online brought me to hear and another forum of unhappy and ripped off investors who have paid vast sums of money for a program that does not deliver. Imagine my surprise when I rang MCI Technologies in Gold Coast only to be told that my $2,200 is not refundable. I have since rung Office of Fair Trading and ACCC of course there is nothing they can do either. SO here I am out of pocket $2,200 and a lot wiser, so my advise to anyone about MCI Technologies, they are unscrupulous and dishonest and they are only interested in getting your money in their bank account. :mad: Regards Bluesphere."

dogtrader said: "I'm from London and was scammed. I didnt do my homework and am currently using lawyers to get my money back. I've proven to MCI that their software in the UK is faulty but they refuse to give me my money back. Ł3400+VAT. I've been in touch with MD and customers services and have bben insulted to an alarming level. Copies available if anyone interested. The FSA in the UK have a file on the company. There have been cases against the company for their selling techniques. The BBC consumer programme Watchdog has many complaints and has featured the company twice in the UK on TV. Be warned The company is loosing money in the UK, going no where in Australia and growing in The US (New market) Share price has sunk over the last few years to 23C (Aussi) They are running out of money. MD is leaving "to spend time with family" which is stock market speak for being fired. Shareholder base has no institutions but two large shareholders - guess who -Chairman and MD. Holding company is tomato technologies limited on aussi stock exchange You have been warned. Get a good book on investing. Keep up the good work folks :)"

dogtrader said: "[QUOTE=bnd]I am new to the stock market and have just purchased star trader for the LSE. I was expecting to just be notified on what to buy and when to sell so I was disappointed to find that I have to input information first that I do not fully understand. I am very pleased to have found this site as I am now wondering if I have made the right decision and hoping someone could please give me some basic guidelines.Many thanks.[/QUOTE] I'm in London. The current version is faulty. MCI are a scam company. They have been featured on BBC programme Watchdog, FSA has a file on them. There has been cases against them for their selling techniques. Sorry to give you bad news but best before you buy shares."

Amanda said: "Hello Well isn't this amusing. Most people complaining about this software don't even use it. As far as I can tell no one except dogtrader and faoileag have actually purchased it but you all seem to know so much about it. Dogtrader, have you tried using the software? You should be phoning your broker not your lawyer. faoileag, I am sorry to hear that you lost money. If you could elaborate on your trading I could perhaps help. Just for the record I am still making nice profit. Cheers Amanda"

fireopal said: "hello to all: have been looking into "microcap trade" and wanted to know if anyone has any experience/knowledge with this program and filters?? many thanks."

dogtrader said: "[QUOTE=Amanda]Hello Well isn't this amusing. Most people complaining about this software don't even use it. As far as I can tell no one except dogtrader and faoileag have actually purchased it but you all seem to know so much about it. Dogtrader, have you tried using the software? You should be phoning your broker not your lawyer. faoileag, I am sorry to hear that you lost money. If you could elaborate on your trading I could perhaps help. Just for the record I am still making nice profit. Cheers Amanda[/QUOTE] Amamda Yes tried using the software and it was rubbish. As the market was rising not a single stock indicated. Also problems with the software which MCI accepted that I was correct. I am pretty sure you are from MCI by your comments (Be careful people - some use sites like this to sell) In the UK MCI have been done by the office of fair trading for miss-selling. Have a great day folks :)"

HappyHarry said: "[QUOTE=fireopal]hello to all: have been looking into "microcap trade" and wanted to know if anyone has any experience/knowledge with this program and filters?? many thanks.[/QUOTE] The feedback on this program appears to be pretty bad. The biggest hurdle to overcome is the price. This thread has been open long enough, and I'm closing it now."