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Hi areehoi,
Think about this for a minute . . .
Saturday, February 5, 2005, 12:17:55 AM, you wrote:
a> Are any of you UK AmiBroker users familiar with a program
a> called "Star Trader". They have been running some big ads in the
a> Dallas Texas paper on a seminar that promotes/sells this program. I
a> looked it up on the internet and find it is out of the UK ... this is
a> what the BBC said about it.
a> "MCI Technologies sell a 'state of the art' software program called
a> Star Trader. Even if you have no prior knowledge of the Stock
a> Exchange, Star Trader is said to make you into a city trader from the
a> comfort of your computer.
Gee, they have such a great thing. Why would they sell it? If you
had it, would you sell it? At a price that anyone walking down the
street could afford?
a> The software analyses the last 15 years of trading and calculates the
a> best times to buy and sell shares. Their salesmen claim that you can
a> make £30,000 in the first year of using it.
Thirty thousand pounds is a meaningless figure without knowing the
capital required to generate it. ^_^ If it required 3 billion
pounds in working capital, thirty thousand wouldn't be so great,
would it.
Do they mention drawdowns anywhere? ^_^
a> Viewers told Watchdog they found the software complicated and reliant
a> on guesswork. Even when they have seen profits, viewers found that
a> profitable trades are unlikely to cancel the broker's charge and cost
a> of losing trades. Watchdog discovered that MCI are not licensed by
a> the Financial Services Authority to recommend shares and give
a> investment advice."
a> Let us know if it is something worth checkin into or just another
a> scam. Thanks,
I think the paragraph above pretty much answers your question. This
is some kind of curve-fitting program, almost certainly. As such,
it's very unlikely to work going forward -- the only direction you
care about. My advice: Forget about this and similar offers.
My philosophy on this is pretty basic:
People who have genuine working systems, trade them; they do not sell
them.
People who can trade, do, and earn their living that way. People who
jet around offering to teach other people how to trade, or who sell
trading systems, earn their living that way. There must be a reason
they take the secondary route. Sure, there are endless
rationalizations that simply glide off the tongue, and which are
irresistible siren songs for the people who really want to believe
it's this simple (pay some cash up front and buy a perpetual cash
generating machine).
Yuki
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