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In regards to the Accutrader System,
I called and spoke with the man a few months ago, I believe his name is
George Heffernan. From what I recall from the conversation, he told me he used
to trade and lost all his money and decided he wasn't getting back into
trading until he had a specific plan. He was selling the trading system for
$499 at the time for 200 people only. His purpose was to raise capital so he
could get back to trading. He told me he planned on raising the price to $799
in the near future.
He faxed me some details of the plan without revealing the actual
"signals " that called for action to a buy or sell. He operated on a three
minute bar and he took advantage of the range that the three minute bar
traversed in that time.
>From what I recall, when you got a signal to "buy", you immediately placed an
order one point under the market price and waited to see if your price was
hit. The second you got a confirmation of the buy you then placed a stop loss
one point below that and also placed a limit sell order one point above your
buy.
The technique sounds feasible, if you and your broker are in tune and execute
flawlessly....
It's the flawlessly part that stopped me from purchasing.
In all fairness he didnt sound like a scam artist and he was forth
coming about his own personal losses. He did tell me he worked the plan in
real time but he at that time (several months ago) he was not trading it. I
believe he executed it on Trade Station. Whether he is actually using his
system at this time, I do not know.
Bob Yost
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