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MCI's Star Trader

Discussion in 'Trading/Investing Resources' started by fivemajix, Feb 3, 2005.

  1. fivemajix

    fivemajix

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    Hi everyone,
    just wondering, has anyone had the opportunity to use MCI Technologies Star Trader program. Done a lot of research and found some very happy people and also some not so happy testimonies. The negative seems to be coming from competitors and individuals unfamiliar with the system but everyone i've chatted with that's running the program says it does everything and more than MCI claims.
    What's your views? thanks,
    Troy.
     
  2. DTM

    DTM

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    Hi Fivemajix

    I've seen their brochures in the mail. I've always wondered what competitive edge they provide. What does their software do?

    Daniel
     
  3. fivemajix

    fivemajix

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    Hi DTM,
    have a look at mcitechnologies.com for a basic overview. Also ismaassoc.com for a reveiw. I've spoken to a couple of people who claim an average 10-20% growth per month using this program, very interesting. Another one or two positive testimonies and I'll grab the thing. By the way, the star trader comes in at $8900.....whew.
    Troy.
     
  4. Cosmos

    Cosmos

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    Lol I live a few meters away from where they sell that crap…. on the Gold Coast, Southport.

    Save yourself a lot of money and figure out how to put formulas into Microsoft excel.

    Basically the software just tracks your position in the market, by taking a few extra seconds to update prices in excel you would have accomplished this and saved yourself $9K and the feeling of been ripped off.

    Please do not buy this software, look around on the net. You can get a professional charting package, professional position keeping software and professional scanning software for around $2500US all in the one package and never have to upgrade for the rest of eternity.

    MCI sell basic overpriced software. If you feel like spending so much cash on this software buy a horse-racing program.... it will be more productive.


    Cheers
     
  5. fivemajix

    fivemajix

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    Thanks Cosmo,
    You've obviously checked it right out with such a strong veiw on the matter. Have you got a friend that got burnt with the program? You must have used the system first hand to know it so well and surely wouln't be silly enough to pay 9k yourself?
    Any comments from someone who's actually seen the program in use?
     
  6. wayneL

    wayneL Rotaredom

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    Looks like you've made up your mind already.
     
  7. Cosmos

    Cosmos

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    fivemajix, I have seen their broaches and can tell straight away its not worth more then $80, but more importantly I know 2 people that work there.

    MCI do a lot of telemarketing for their product and 2 of my mates work doing this. Its not a scam you will get the products but trust me its not worth $9K. The company is based in Hong Kong. The telemarketer’s get around about $1500 for each product they sell (tax-free), I hope this highlights the nature of the company to you.

    If you want better software for only 2% of the price of star trader, please click here, however this is not professional software:

    http://www.maus.com/fe_product_display.asp?product_id=128

    Alternatively if you still want star trader download a free copy and get a source code for it and save your self $9K all together.

    Cheers
     
  8. mrfirkin

    mrfirkin

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    Hi everyone,

    I have been sent a brochure and several follow up calls from a company called MCI Technologies promoting their software 'Star Trader'.

    They are currently offering it on special for AUS$3,000 (it's normally $8,500) on the condition you pay them the difference of $5,500 after you make $30,000 in the first 12 months. If you don't show a $30,000 profit you only pay the $3,000.

    As I am new, this sounds like a fantastic deal. Anyone else using this program? Looks fantastic from all accounts.

    Can't wait to get it and get started. :D

    Cheers,
    Mrfirkin.
     
  9. Joe Blow

    Joe Blow Administrator Staff Member

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  10. Porper

    Porper Ralph Nelson Elliott

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    Only trouble is it is set up for the UK market as far as I know.Personally I think $3000 is expensive, doesn't do anything different to any other charting software as far as I can see.

    Good marketing ploy though saying you pay them the rest when you make over $30,000 in the first year, yeah, right :screwy:
     
  11. mrfirkin

    mrfirkin

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    It sounds good. Maybe I am acting a little hasty?

    I have read some very favourable reviews though.


    They also have a swag of endorsements from satisfied customers all available for viewing and supposedly 100% genuine.

    Cheers,
    MrFirkin
     
  12. dutchie

    dutchie

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    Firkin

    Is Star Trader a black box? If it is it limits your education in share trading.

    $3000 will buy you a lot of education (books etc) so that you can make you own decisions or study recommedations from the likes of Fat Prophets et al.

    Look before you leap, the market will wait for you to get an education in trading shares.

    I am sure all the products, like Star Trader, on the market can produce positive results (especially if their results are from periods where the market was rising - a dart board would make money!).

    Read some of the threads here, at least, before you take the plunge.
     
  13. Bloveld

    Bloveld

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    Hello
    You know that you will only be able to use data from MCI.
    How much does their data cost?
    Steve
     
  14. tech/a

    tech/a No Ordinary Duck

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    I'll bet your from the same Firkin Family as Star Trader.

    Your a Firkin dead give away.

    Can't wait to get it and get started.
    They also have a swag of endorsements from satisfied customers all available for viewing and supposedly 100% genuine.


    Firkin Fantastic stuff.
     
  15. mrfirkin

    mrfirkin

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    Hi there tech/a

    No, I am not in anyway affiliated with MCI.

    Cheers,
    MrFirkin :D
     
  16. Joe Blow

    Joe Blow Administrator Staff Member

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    MrFirkin,

    It wasn't a moderator who deleted those posts, it was me. I deleted them because we don't allow profanity on the forums.

    Feel free to respond to tech/a's post without any obscene language.

    Thank you,
    Joe
     
  17. mrfirkin

    mrfirkin

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    This forum sucks,

    Who the hell keeps editing or deleting my replies to this insignificant piece of floatsom that calls himself tech/a ? What??
     
  18. mrfirkin

    mrfirkin

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    well joe, you are obviously so bored or nout better to do than sit there watching me type the replys.

    You saw what this ugly sod wrote back to a perfectly innocent question?

    yes?

    I want the right of reply. !!!
     
  19. Joe Blow

    Joe Blow Administrator Staff Member

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    MrFirkin, you have the right of reply, you just don't have the right to swear on these forums.

    I am sure you are capable of responding to tech/a without using profanity.

    The rules here apply to all members equally. Check the link at the bottom of the page that says "Code of Conduct" for a full list.
     
  20. doctorj

    doctorj Hatchet Moderator

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    MrFirkin:

    If a deal is too good to be true, then it probably is.

    The only reason why they would say you only have to pay the extra if you make a large sum so a person will be deceived into thinking those type of returns are typical. Unfortunately, to me it stinks of a marketing ploy. Even if you lose money, it will still cost you $3000.

    If you're interested in learning how to trade profitably and are willing to do a bit of leg work yourself by accepting that there is no one holy grail to make you money then $3000 will go a very long way. In many ways, trading is as much an art as it is a science and with this in mind its beneficial to get as many different opinions and theories as possible so you can find or develop one that suits your needs, personality and skills.

    Go borrow or buy some books. Read lots. Find a group of people to answer questions - this forum is great for bouncing ideas. Even look for a mentor in your peer group. Find out how other people trade. There's a strong bias towards technical trading here, but many of the richest people in the world rely on fundamentals. Lose money in the market - there's no greater lesson.

    At the end of the day though, by purchasing a black box trading system you've decided that you want to make money but you're not prepared to put the work in yourself. While it may work in some circumstances, it also may not and either way, you'll be none the wiser. When you eventually decide that it doesn't work great or that it doesn't work great in all market conditions and you want to trade on your own, you'll be back at square one and you'll need to do the work yourself anyway.

    The only group that is DEFINATELY going to make money from you buying a $3000 trading system is the group that sold it to you.
     
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