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ESL Close of Market Trading Program

Discussion in 'Trading/Investing Resources' started by philc99, Jul 7, 2011.

  1. philc99

    philc99

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    I am a very new investor and am considering purchasing this program for $9000+ which uses the end of day data together with historical data to identify underpriced securities. You then invest in some of these recommendations and sell when you have made 10%. Does anyone have any first hand experience of this program or ESL or any general advice about these programs?
    thanks
     
  2. suebrissy

    suebrissy

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    I have been approached numerous times by ESL and am also considering this program, a bit sceptical about their persistence when the program is limited to a certain number of people because it won't work if large numbers of people or trades are being made. I was hoping someone would have some first hand information of the program as I was told they have been around about 20 years.
     
  3. mary

    mary

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    Get detailed information about the program.
    Keep also in mind, there are scams around.
    Ask for a trial period.
    Warranty of the product.
    Money back guarantee.
    I'll pass on any new information as available.
     
  4. roblawson

    roblawson

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    I too was contacted by ESL and did quite a bit of research trying to justify this type of program as I was very keen to overcome my scepticism.

    Check out the attached article, specifically the bit about back testing - it might give you a bit of insight into how the great results from share trading software packages may have been achieved.

    I am not saying it won't product good results, it may well do - however it seems it is quite likely the results advertised may have been achieved using back testing.
     

    Attached Files:

  5. Wysiwyg

    Wysiwyg Everyone wants money

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    If this system was worth $9000 then the creators would trade it themselves and make their fortunes. But no, sell the system instead? Bloody crazy people I tell ya.

    See the truth in this ....

     
  6. sammy84

    sammy84

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    The first four posts in this thread are by first time posters all who joined within a month of each other......:cautious:
     
  7. MichaelThomas

    MichaelThomas

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    I'm actually using them but i only just started so it's too early to give any real insight.

    Setup took about half hour and before you can trade you need to organise a trading account. This is free but it can take a few days.

    Since i started trading it's been good...i'm still nervous but my sister and her husband have been using them for a few years and they love them so i'm optimistic. Once i have more experience i'll be able to provide a bit more detail, but so far so good.
     
  8. stockGURU

    stockGURU

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    Anyone who is planning on handing over their hard earned dollars to this company should consider the following:

    1. Why are they not licensed? Their website quotes no AFSL number.
    2. Why does their domain name have domain privacy? No legitimate company would use domain privacy as it essentially hides their company information so they cannot be traced or identified easily.
    3. The price of their service is quoted nowhere on their website. Why? Probably because they don't want to scare off prospective cusomers until their sales team has a chance to extract money from them.
    4. Their website says "Copyright © ESL 2007" and yet their domain name was not registered until March 11, 2011. Hmmmmm....
    5. What exactly are you investing in? Their website contains no detail, only sales waffle like, "Advanced technology and commitment to personal relationship management means our clients have access to a superior tailor-made trading experience". This is pure sales BS!
    6. Their website says, "Our continuing technology investment has been repaid by recognition through industry awards and marketplace response." Huh? What awards? What "marketplace response"? What is "marketplace response" anyway?

    IMO, you would have to be a fool to hand over money to this extremely dubious company.

    Caveat emptor!
     
  9. stockGURU

    stockGURU

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    Hi Michael,

    You say you sister and her husband have been using them for a few years, but their domain name was registered in March this year. What was their previous domain name?

    Also, their company name is mentioned nowhere on their website. A bit strange don't you think? For the benefit of all ASF members and visitors can you please ask your sister and her husband the name of the company they handed over their money to and post it in this thread.

    Many thanks!
     
  10. Site2sitemedia

    Site2sitemedia

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    Hi All,

    Today (18/08/2011) i received a phone call from a guy by the name Will Taylor announcing that i was very lucky to win this opportunity as there is only 400 selected people. He asked about the wonderful and useless marketing brochure that I received in the mail which I had no idea how I got it, Apparently I was given as an referral by an accountant. He was unable to advise and my cousin has being doing my tax since my first job .. . . . . As the comments below, I was told to Google “esl leading edge software” for information on how this wonderful software operates while I am sleeping and I was unable to find anything, i.e. ABN, company name or domain registration details on www.esl-corporate.com or www.esltrader.com. But I did have an address that was on the brochure and covering letter by Brian J Chambers. The company address is Level 46, 1 Farrer Pl, Sydney which I am pretty sure these are virtual offices, Will was calling from Melbourne.

    My starting package was $9500 AUD, $9000 for the business and $500 for investing which apparently I should make back in 3 - 4 months. So due to the final 4 spots, Mr Taylor suggested that I should grab my spot by COB the following day. Naturally, They accept all credit cards.

    So with all being said, somehow and in a weird curious way I am considering to join the program but at the same time I don’t want to lose my hard earn working money. So for the “what if” and a piece of mind, I am going to take sometime to do a little investigating and see if I can get referrals from consumer affairs, ABR and Fair Trading. I will let you all know how I go, In return, Please share any information you know too. . .

    BTW – All the award winning websites with the broken links i.e smallbusiness-guide.com, esl-corporate.com, stockexchangecommission.com and esltrader.com all have the same domain registrar.

    Please remember, anybody can create an article in Wikipedia

    Thanks.

    Investor-investigator.
     
  11. Gringotts Bank

    Gringotts Bank

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    Very obvious spam here.

    Moderators, can we get this thread removed and the spivs who started it removed also? ie. bans for phil, sue, mary ,rob and michael.
     
  12. boffin125105

    boffin125105

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    Hi all, I have had this lady ringing me for the past week about their program that will make me thousands of dollars in a short time and she told me to look up 3 sites that would repel my fears about loosing my money, I had a look and told her that anyone can set up web sites if they have the knowledge, that can support her claims about this great program. She also told me that they were Asics backed and I told her that having a business registered does not prove anything to me and that it doesn't mean that they are legitimate anyone can register a business and get an ABN. She told me that as of today there are only 2 programs left for sale and that she would call me back in a hour after I get the chance to do some research via public forums etc so I wish to thank all you great people on this site for pointing out the flaws in the web pages she told me to look at, I think once again you have saved me from shooting myself in the foot and buying this program.
     
  13. Grateful x100

    Grateful x100

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    It appears to me that ESL Software is the latest incarnation of this scam.

    ESL appears to be very impressive.

    A search on Google for ESL took me to:
    * The ESL website http://www.eslfinancial.com which was similar to the beautiful glossy booklet that ESL sent me unsolicited
    * The International Stock Exchange Commission http://www.stockexchangecommission.com from whom ESL have won an international award
    * The Small Business Guide http://www.smallbusiness-guide.com which contains a glowing review of ESL
    * eshare magazine http://www.esharesmagazine.com/and_the_winners_are.php that lists ESL as one of the top 5 performers

    I sent an email in reply to their message and requested their ABN plus AFS licence number.

    I received a phone call and was given the ACN as 131 814 849. This was listed on the ASIC National Names Index as: ESL INVESTOR SERVICES AND QUINOX SYSTEMS PTY LTD.

    ESL informed me that as ESL were selling the software ESL didn’t need an AFS licence.

    I was also told that ESL was selling a limited number of ESL software licences so that ESL couldn’t manipulate the market. ESL are full of themselves if ESL think 400 amateur traders are going to impact the market more than the institutional investors. I guess ESL would only recommend dogs and so they may have a chance of effecting those share prices.
     
  14. georgebell

    georgebell

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    I came across this site as I have a friend running the ESL Program and I was searching some further info on the company. Rather disconcerting to see this negative feedback on ESL, considering I am interested in buying the program myself. I wonder how much of this is in fact heresay and written by people genuinely running the program. Given his experience with ESL I can’t honestly see how it can be called a scam!? He received everything that was described pre purchase, was promptly delivered the program and has had ongoing support ever since.

    It’s been very interesting to watch his progress especially as I have a large portfolio managed by a broker. Over the past 6 months my managed fund through my broker has gone significantly backwards, trading mainly a blue-chip portfolio. During the same period my friend has achieved a good steady return using the program, albeit there was one month that didn’t go so well with the US Debt Crisis impacting the entire market. Since that time he has been achieving a good consistent return and my managed fund has been subjected to a fair amount of ridicule. He runs two settings, one on medium to high risk and also one focusing on blue-chip stocks.

    Considering I pay a lot of money in fees to my broker, as opposed to a modest cost my friend paid to purchase the ESL Program, I am very impressed. He has regular contact with his one on one advisor who has guided him through the process from day one and is at his beck and call as required. He’s not running the program 'fully automated' or anything silly like that, but at the click of a button, the program does all of the charting and analysis resulting in a list of options each day to invest into. He applies his own input then into the decision making process and once he makes his selection he can track the stocks through the program which, based on his preferences, will recommend when to sell. His preference is to manually buy or sell through the broker, rather than placing automatic orders.

    I think that I was a bit pessimistic initially, especially with the claims about its historical performance, however having seen first-hand that it can outperform conventional methods of trading and am seriously considering an opportunity to get involved myself. I will however certainly be getting him to ask some questions about the content of this website before I proceed.
     
  15. elbee

    elbee

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    Some contradictory messages?
     
  16. georgebell

    georgebell

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    Hi Elbee, yes thank you for pointing that out!? My wife Nancy and I share the same login as she doesn't have a domain registered email. For your information I'm the green trader and she's just entering the market. Having worked her whole life for her nest egg she prefers to be independent of myself in the growing wealth department. Cheers..
     
  17. robz7777

    robz7777

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    Why do you need a broker to purchase a managed fund? :banghead:

    If your friend's portfolio is going so well why not just pay him for recommendations instead?
     
  18. georgebell

    georgebell

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    Hi Rob, sorry just to clarify I have a managed fund that is overseen by my broker. I pay him a mint to look after all of my investments, hence why I'm keen to look at self management. Perhaps rather than hitting your head against a brick wall, as a newby to this forum I would hope for some more constructive feedback? My wife Nancy provides me with enough grief on this front!!

    I am interested in taking more control over how my money is invested and having actually seen ESL's performance I felt this would be a good option. I am in two minds now after doing some further research and would like to draw on the experience of others in this forum to perhaps suggest viable alternatives.

    Finally with regard to paying him for recommendations I understand that he is bound by an agreement not to onsell the information from the program. Thanks, George.
     
  19. robz7777

    robz7777

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    Sorry George I have just read a number of posts from others who simply come to sites such as these to spruik a product with amazing returns (only for those selling the product that is). Just get a little skeptical. :D

    Just out of interest what sort of returns (after fees) have you been getting from the managed fund recommended by your broker?

    Another question is what sort of return do you need to be getting?

    Once you take into account the apparent set up costs (someone suggested $8-10k I think) you would hope to be making some reasonable returns to have that initial costs paid back fairly quickly. By simply purchasing someone elses program are you really learning anything? If in three years the programs stops providing good returns what have you learnt that will be of benefit to you? Will you need to go out and find another system?

    If your friend is a nice guy maybe he will offer a few recommendations for free?
     
  20. investorpaul

    investorpaul

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    Why does ASF get one of these every single week!!!!
     
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