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Any experience with Genesis Trade Navigator? 4 replies

HELP!!! Genesis Data Needed 2 replies

  • Trading Discussion
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Important RE: Genesis Data

  • Post# 1
  • Quote
  • First Post: Oct 17, 2005 5:27pm | Edited at 6:13pm
  • fijitrader
    Joined Mar 2004 | 427 Posts | Status: Valued Member
In the review of VantagePoint software I noted some problems with Genesis Data services. Considering what they put me through in their tech support department I was pretty soft on them in the review but I didn't want to bore the readers with a lot of frustrating trivia. Since then I've had worse problems with them and, while VantagePoint recommends them as a data provider, I recommend that you do not deal with them. The frustrating technical problems I had with them pale in comparision to how they have handled the financial side of my account.

When I signed up with them there were only two data provider choices. I first called CSI data services. I was told there was a 60.00 sign up fee plus the monthly charges. I then called Genesis and asked their representative what fees were involved. I asked if there was a sign up fee and I asked what the monthly charges were.

I was told that the first 30 days were free, that the fee was 25.00 a month, and that there were no additional fees. I confirmed that with several other questions.... I mentioned that CSI had a sign up fee and confirmed that Genesis had no sign up fees. The lady repeately assured me that there were no other charges than the 25.00 a month. Surprised that anyone would even use CSI when Genesis had a much better deal I also asked if I cancelled at any time were there any other fees. I was told that there were not. I revisited the question about additional fees a few times throughout the conversation and was consistently assured that there were not.

About three months later I noticed a 138.00 fee on my account and called to find out what it was about. After numerous calls to the accounting department and only getting voice mail during normal business hours I finally called the sales department and the woman who answered told me that she could help me. Her explanation of the charge on my card was for a 60.00 sign up fee plus monthly charges. I told her my story and she told me that she was having trouble believing it. She said that what I described was not what Genesis offers and that Genesis does not give refunds.

I asked her "you mean if I call in and ask questions about your service and you tell me what the service is going to be and I agree to that -- that if you later charge me differently than what you agree to -- that you do not give a refund? She began to dispute the verity of my comments at that point. I repeated to her the things I asked the rep I signed up with and what I was told. She denied that Genesis offers that and told me it was a misunderstanding telling me that the rep must have been having a bad day and that the actual charges were valid. I told her that I did not agree and that I wanted the situation corrected according to what I'd agreed to and I wanted it done today during normal business hours. I told her that I'd paid for far too many overseas calls to Genesis and that there was no reason why this problem could not be solved now during business hours. She tried to get rid of me by telling me that she would forward my request. I told her I wanted to talk to someone who could resolve the problem without making any more expensive overseas calls. The line disconnected.

I kept detailed notes of my original call to Genesis because it was part of my review of the data provider and have a record of my discussion with the representative. I spend a lot of time communicating on the telephone because it is my primary way of doing business around the world. I have bought millions of dollars worth of various kinds of gear and equipment by phone and have a lot of experience in communicating in pretty clear terms when talking on the telephone. I also have a well developed ability to ask verification questions and when I spoke to the original representative I was very careful to ask sufficient cross reference questions to determine that there were no additional fees other than what I was told.

Those who've read my posts here have told me that my written communications are pretty clear. The fact remains that I'm much better at both listening and talking in live conversations than I am in writing.

My take on this is if you want to deal with a company that has given me an abundance of trouble and has cost me a LOT of time and money in overseas calls then Genesis is your company. Given the legacy of trouble I had with this company years ago when I used this service I'm surprised I used them this go round but I was paying the data costs for this review out of my own pocket so I went with the cheaper provider. Turns out they did not tell me the truth about their charges and have billed me fees that they did not advise me of and have not responded in a helpful or cooperative manner. All I got from the representative at Gensis whom I talked to today was argument to try and convince me that I was wrong in my understanding of their service and what they offered. As a result of they way I have been handled by Genesis I have strong suspicions that there is deliberate deception being used here and I know that it is not from me.

FT
  • Post# 2
  • Quote
  • Oct 17, 2005 10:04pm
  • scpeter
    Joined Mar 2004 | 85 Posts | Status: Member
Quoting fijitrader
In the review of VantagePoint software I noted some problems with Genesis Data services.
FT
Fiji, you are a gentleman and an excellent communicator. Thanks for all of your time and effort. Based on your review, you can be assured that I will never do business with these people. For what it is worth, I have noticed a steady decline in customer service and basic communication skills in all walks of life. The courtesy is gone, the common sense is gone, and people just don't seem to care. It used to bother me a lot more. But being a student of Guy Finely has helped me a lot.
Steven
  • Post# 3
  • Quote
  • Oct 19, 2005 12:26am
  • fijitrader
    Joined Mar 2004 | 427 Posts | Status: Valued Member
Quoting scpeter
Fiji, you are a gentleman and an excellent communicator. Thanks for all of your time and effort. Based on your review, you can be assured that I will never do business with these people. For what it is worth, I have noticed a steady decline in customer service and basic communication skills in all walks of life. The courtesy is gone, the common sense is gone, and people just don't seem to care. It used to bother me a lot more. But being a student of Guy Finely has helped me a lot.
Thanks my friend. You are right about the decline in service for the most part. You have no idea though how much better it is in America than most places overseas. I've been round the world and I can say that at least in the US good service is considered to be the proper way to do things even when it doesn't happen. "You never hear people oveseas saying "The customer is always right". Saying something like that would be more like cracking a joke in Australia. BTW to you OZ friends reading this -- no offense guys I'm quoting your own countrymen of whom many are friends of mine.

I could spend a lot of time ranting about customer service but I won't. I will take the time to mention that the way VantagePoint has treated me over the years has always been outstanding. They do charge a bit for their software, they make no promise of riches, their prices leave some room for flexibility, but they do charge enough to give you first class service. They also have plans to add additional data providers to enhance the selection so that people are not stuck with a dissatisfactory data service.

FT
  • Post# 4
  • Quote
  • Oct 19, 2005 2:21am
  • mcdirt
    Joined Jan 2005 | 8 Posts | Status: Member
Fiji, many thanks for your review of Vantage Point and Genesis. I currently use Genesis Trade Navigator Gold to get Futures, US and ASX data into one program I use and I have not experienced any of the problems you have with them. Payment, installation, setup was easy.

Previously, I used CSI Unfair Advantage and found it extremely complicated and not the least bit user friendly. CSI does have a good reputation for clean, accurate data but I have had no issues with the Genesis data and it does have (IMHO) better charts and the ability to update charts intra-day which is neat. It's a great little program for checking the price of US, Futures or ASX data during the day and it will update every 10mins if you wish.

A matter of personal preference.

I actually hated the CSI program and after less than 1 month into a 12 month contract asked if I had the option of getting a refund on remaining time, not being too optimistic. They came back and said they would refund less 2 x months used so it cost me an extra month to get out of the contract. Very fair and I would not have objected if they had refused.

On the subject of Vantage Point itself, you have really muddied the waters for me. Since meeting you on the 5minFx forum, I have respected your opinion greatly and here you have written a positive review of VP. I have only heard about VP in negative terms before with entire threads on Moneytec being devoted to dislike of VP, accusation of scams and diuscussions on how to try and get your money back. It is one piece of software I have stayed well clear of until your review.

I signed up for the "Free Forecasts" advertised on the Web site and have not yet received anything that I would construe as being a forecast as all they have sent me is historical data. When I told them that a forecast would be telling me what tomorrow's data would be, they said that was "privileged information to our clients".

So I asked if anyone in Perth used VP that I could talk to, they replied that they have clients all over the world. Great, very useful, just what I wanted to know.

After two or three days of e-mails, I got the special offer "Friday is the last day!" .... an offer to get all 69 markets for US$12,900. I recieved this on Friday "The discount was just introduced this morning and ends today" and this was purported to be to celebrate finally making it into the INC500 list (what is that!). According to their web site, they made it into the INC500 list in October 2004, a year ago. Late celebration and just when I was talking to them, that was lucky.

The offer was not shown on their web site.
Was it a private offer to me, 'cause it was time to reel me in?

I regarded it as pressure selling - special price, bogus reason, today ONLY.

I don't like their tactics. If the program is that good, then why wouldn't they give a free trial of even just one market for a couple of weeks? 'cause they don't want you to see it 'til you have paid for it could be one logical conclusion. They offer "Forecasts" but give "Postcasts" and expect us to be impressed.

I don't doubt your integrity for one second Fiji, I accept what you say as the truth. Perhaps the program is an excellent tool but until they change their sales approach, I'm not interested.

rgds McDirt
  • Post# 5
  • Quote
  • Oct 19, 2005 6:17am
  • fijitrader
    Joined Mar 2004 | 427 Posts | Status: Valued Member
MD thanks for your feedback. I almost edited your reference to moneytec but not because I don't want the site mentioned here but because I read the thread over there. It was such a joke and the comments people made were so clearly uninformed that I knew we were not hearing from people who knew anything about trading.

I don't even beleive one guys comment that they gave him a refund because the market breached the predicted low and he demanded a refund. That was so ridiculous as to be beyond belief. I'll listen to credible complaints any time but I could not find any credible or responsible criticizms about VP on MT at all.

As for data providers my experiences concerning Genesis have been consistently bad spread over four or five different dealings with them over an eight year period. Of course I was not using their charts and data out of the box. It was always within the VP software and I can say that the kind of problems I've had with them supporting VP have not been good. So my recommendation not to use them is within the VP context.

What makes for a kind of poetic irony is your confidence in my thoughts about trading software considering that 5min4x did not turn out so well in the end.

As for salesmanship I hope the folks at Market Technologies read this and learn. I'm not a fan of their latest approach of advertising predictions and then sending history. On the one hand they are not lying because they provide market predictions that are the same ones they made when they were actually predictions. However I think they know that people are expecting something different and that offering something and delivering less does not make for a good image. However I don't like to let bad salesmanship interefere with my access to a good product.

A case in point:

Two years ago my closest friend sent me an email informing me that a nephew of his was involved in some kind of ebay related project that he was doing through a Canadian university. He asked me if I was interested but he did not say much about the project that was flattering. I responded that I'd take a look at it but that it was unlikely that I'd be investing. It didn't sound like much and I didn't want to get anyones hopes up. The information never came and I later found that the guy said that if I was not very interested not to bother sending the stuff.

A year later I was talking to Gordon again and he informed me that his shares had gone up a lot. He'd paid a dollar a share and they were now worth over 100.00 a share. I gasped and asked him more about the project. Turns they had obtained the rights to ebays database for market research and had rewritten ebays operating system so they could mine and market ebays demographic and related consumer statistics to market to large corporations for market research, market trend indentification, and other amazing kinds of marketing information found nowhere else.

I missed that opportunity by a nanometer and it was no different than if I'd missed it by a light year. I let someones lousy presentation cloud my investigative abilities to determine the potential of an opportunity. I let Gordon's impotent description of the business keep me from finding out more. When the opportunity came round the next time to invest in them I was offered a 500k US minimum private placement. I didn't have the cash sitting round. Someone else took the entire subscription. Don't allow a lousy presentation to put you off too easily.

FT
  • Post# 6
  • Quote
  • Oct 19, 2005 7:36am | Edited at 7:44am – Added comment about MTP and Forex
  • mcdirt
    Joined Jan 2005 | 8 Posts | Status: Member
Fiji,

Many thanks for your reply. I agree that I myself raised an eyebrow at a couple of the comments on MoneyTec. My point though was that all info I had found on VP prior to your review was negative. I may have looked in the wrong places but I have been where many, many traders go and that is what I saw. This is something VP should work on improving perhaps ... public perception of their product.

I accept that you have had multiple bad experiences with Genesis, a good program can't make up for poor service and, although I personally did not like the CSI program, their service was definitely excellent (through QBL in Sydney).

I do not regret my experience with the 5min system one bit. I still believe that Beau was genuine and you cannot ask for more than that - using the system, taking the trades, managing risk was my responsibility. The price was fair (in my opinion) and the support was adequate. That run of 44 or so loss trades taught me so much about myself it was worth all the money I lost (which actually was not much, trading 1 full lot on each pair). It introduced me to ForexFactory then people like Merlin, Dialist, James16 and your goodself.

I have been waching the James16 thread for some time and intend to join the private forum when it starts. Doors close, other doors open.

Understood and agree about VP - you gave the program a good write up after an in-depth and level analysis - all they had to do was close the deal and instead they put me off. We would all have been using the technically superior Betamax video recorders in the 90's if they had had salesmen equal to the VHS mob. If VP is as good as they claim and you seem to support, then their marketing approach is letting them down badly.

You asked for suggestions on another product to review, I suggest MT Predictor. I am nothing more than a happy user - check out their service/approach. The software is fairly priced, includes support, education and a 60day money back guarantee (minus $250 for the training & reports you get in that time) - now that is someone that believes in their software and is confident that it will stack up in real time trading. I went to that site and did buy the software 'cause there was nothing to lose - VP take note.

http://www.mtpredictor.com/index.html

Edit: MTP is mainly used for US Stocks and Futures with Forex being more of an addition. I find it gives more setups for Stocks/Futures. This being a Forex forum, you may decide that it's Forex abilities are not strong enough to warrant review.

rgds McDirt
PS Bad luck about eBay
  • Post# 7
  • Quote
  • Oct 19, 2005 4:35pm
  • fijitrader
    Joined Mar 2004 | 427 Posts | Status: Valued Member
Quoting mcdirt
Fiji,
Understood and agree about VP - you gave the program a good write up after an in-depth and level analysis - all they had to do was close the deal and instead they put me off. We would all have been using the technically superior Betamax video recorders in the 90's if they had had salesmen equal to the VHS mob. If VP is as good as they claim and you seem to support, then their marketing approach is letting them down badly.

You asked for suggestions on another product to review, I suggest MT Predictor. I am nothing more than a happy user - check out their service/approach. The software is fairly priced, includes support, education and a 60day money back guarantee (minus $250 for the training & reports you get in that time) - now that is someone that believes in their software and is confident that it will stack up in real time trading. I went to that site and did buy the software 'cause there was nothing to lose - VP take note.

http://www.mtpredictor.com/index.html

Edit: MTP is mainly used for US Stocks and Futures with Forex being more of an addition. I find it gives more setups for Stocks/Futures. This being a Forex forum, you may decide that it's Forex abilities are not strong enough to warrant review.

rgds McDirt
PS Bad luck about eBay
Thanks for the great suggestion and feedback I'll take a look at that program and let you know what I think.

FT
  • Post# 8
  • Quote
  • Oct 19, 2005 11:33pm
  • bluemeasure
    Joined Aug 2005 | 105 Posts | Status: Trader
Fjii, after reading through your favorable review of the s/w, I decided to get in touch with them to get a better understanding of what it can do and how I might be able to incorporate it into my style of trading. So far three different sales people have been in touch making me go through my story (markets, trading style, etc.) and questions I have each time. As well, I've received what is basically four times the same sales pitch with charts by email, but unfortunately not the "free predictions" promised on their site and one would have to be veeery lenient to see historical predictions as "free predictions". I would not buy an expensive car based merely on a picture and a promise of "0 to 60 in 5 secs." I have to sit in it and take it for a spin in the same way I have to be certain I can incorporate this s/w into my trading strategies, but getting a complete sample report (even historical) requires "approval from my manager" (and no report recv'd so far). At this stage, I would also say I'm rather put off by their approach to acquire new customers.

Also, FYI re. the elliott wave software, there's also the "Elliott wave analyzer" package. I've only used it with equities and found that it doesn't generate signals very often, but when it does, they tend to be pretty reliable (giving % chance and some other information in the report it generates). While I have no experience with MTPredictor, these two and some other Elliott wave s/w packages are briefly compared here:
http://www.smartcomparisons.com/page11.html

Julian
  • Post# 9
  • Quote
  • Oct 21, 2005 8:04am
  • fijitrader
    Joined Mar 2004 | 427 Posts | Status: Valued Member
Quoting bluemeasure
Fjii, after reading through your favorable review of the s/w, I decided to get in touch with them to get a better understanding of what it can do and how I might be able to incorporate it into my style of trading. So far three different sales people have been in touch making me go through my story (markets, trading style, etc.) and questions I have each time. As well, I've received what is basically four times the same sales pitch with charts by email, but unfortunately not the "free predictions" promised on their site and one would have to be veeery lenient to see historical predictions as "free predictions". I would not buy an expensive car based merely on a picture and a promise of "0 to 60 in 5 secs." I have to sit in it and take it for a spin in the same way I have to be certain I can incorporate this s/w into my trading strategies, but getting a complete sample report (even historical) requires "approval from my manager" (and no report recv'd so far). At this stage, I would also say I'm rather put off by their approach to acquire new customers.
Thanks for your feedback. I've been aware that VantagePoint can be quite agressive in their sales approach but this is the first time I've heard of someone being inundated by three different sales people from there in such a short time period. I'm going to send them a link in case they find your feedback valuable. I recall VantagePoint doing very good follow up with me and I personally appreciate it because I enjoy seeing how good a sales person is at their game and I often have a lot of questions. A lot of sales people get fed up with me because I sometimes have more questions than a lot of sales people have persistance.

However I'm probably unusual in that way. I think the majority of people are put off by too hard of a sell and also when something sounds like it is better than it turns out to be it tends to put people off. The folks at VP may not be aware that so many people are not responding favorably to that. I know I bought in spite of them doing that and not because of it. If anything it slowed me down but I was interested enough to get past it to see if what they had was any good in spite of their shortcomings in sales approach.

Thanks for the EW suggestion. I may take a quick look at it but EW has never been a favorite way of analyzing the market for me. If there are people making money with it who am I to criticize? I know that some people are quite happy with EW but I don't relate well to it as a tech method. It is too too subjective in too complex of a way for me.

FT
  • Post# 10
  • Quote
  • Oct 21, 2005 8:43am
  • Beachie41
    Joined Sep 2005 | 136 Posts | Status: Member
Quoting fijitrader
Thanks for your feedback. I've been aware that VantagePoint can be quite agressive in their sales approach but this is the first time I've heard of someone being inundated by three different sales people from there in such a short time period.
FT
Every time I asked for charts covering 12mths on the majors I was sent either a "highlighted" month or at best 3mths. And then told what a great "special" was on if I bought the 69 markets. When I questioned their own trading experience I was told "we're not allowed to trade with it" That's bunkum in my books.
It's not a system, granted, but if your touting to a potential buyer how "accurate" it is, then surely you'd be involved with it in some way so you could personally benefit. Would sure beat working.
  • Post# 11
  • Quote
  • Oct 21, 2005 6:20pm
  • fijitrader
    Joined Mar 2004 | 427 Posts | Status: Valued Member
Quoting Beachie41
Every time I asked for charts covering 12mths on the majors I was sent either a "highlighted" month or at best 3mths. And then told what a great "special" was on if I bought the 69 markets. When I questioned their own trading experience I was told "we're not allowed to trade with it" That's bunkum in my books.
It's not a system, granted, but if your touting to a potential buyer how "accurate" it is, then surely you'd be involved with it in some way so you could personally benefit. Would sure beat working.
Responding first to your final statement -- I don't know how it makes sense to assume that using VP software would take the work out of trading. For most the process of developing a system or finding a system is about matching up the things that make sense to you in predicting what is going to happen in the market and then proving the edge those things give you so that you have the confidence to continue trading your rules even when you have unprofitable trades. From there you develop the discipline to also stick to the rules when you have too many profitable trades and become too confident.

The role that VantagePoint plays is to provide predictive tools that either make sense to you or they do not. If what VP provides makes sense then you will find it easy to develop a good system from it. If it does not make sense and you try to trade it anyway or if you expect it to do more than it can then you'll have just as much trouble as if you were trading blind. The realities of trading do not change because you buy this or that kind of software. The difference is that some software indicators provide information that may make it a bit easier to find opportunities. The reality of trading those opportunities is where the real difficulty lies.

If employees of a firm are prevented from trading the markets "as all VantagePoint employees have always been" that is the decision of the company they work for. My perception of VantagePoints reasons for doing that would see to be to keep a couple of problems from occurring:

1. Employees who are having success are going to be tempted to and even likely to influence people to buy based on their own success. While this may seem well and good it also means that an employee may only be able to sell when their equity curve is on an upswing and they may not sell a thing when they are in drawdown. Drawdowns do not mean that a system is not good. ALL systems have drawdowns and most are in drawdown a much greater percentage of the time than an equity run up. However it can make for a pretty unstable sales person to carry the addtional burden of trying to sell during a drawdown. There is also the possibility that the personalites of good sales people are not necessarily going to be well suited to trading.

2. By far the majority of traders are going to lose. That means that, statistically speaking, 90 percent or more of the sales people that VP hires would not make money trading the markets. Therefore VP would have to go and find traders with proven track records who traded very smooth equity curves in order to have a stable and successful sales force. The cost of hiring such people as sales people would be very high and that cost would have to be passed to the end user.

This seems unrealistic since the job of a sales person selling trading software or systems must already deal with the pressure of knowing that they are selling to a market where maybe 1 in 10 are going to make money. They must continue to sell the software on its merits without embellishing their pitch with false claims or being prejudiced by the fact that it is the losers in this business that make the winners possible and that the majority of their clients are going to be losers. This is true of any and every system available. The indicator(s) you use does not make you successful -- it can help but there is so much more to trading than the indicator you use.

VantagePoint has very clear guidelines for your purchase:

1. You cannot try the software before you buy it.
2. You risk the amount you spend to find out if it will be the indicator of choice for you.
3. You must establish your confidence to purchase it through the information they supply you with and information you get from others.
4. If you buy the software and do not make money with it you lose the cost of the software and any real money you traded. Hopefully you'll be sharp enough to make sure that you have a system that is profitable for a few months on a demo account before risking money.

Obviously many people think they can learn more from not buying that software and risking the money in their trading account. Others think the risk is lower to buy the software in the hope that the system the develop will protect and enhance their trading capital in the long run. It is all a matter of what makes sense to you. Trial and error.

FT
  • Post# 12
  • Quote
  • Oct 21, 2005 7:32pm
  • mcdirt
    Joined Jan 2005 | 8 Posts | Status: Member
Fiji,

I don't entirely agree with some of your logic. In the entire market, 90% of traders will lose but VP claims that they will place you firmly in the 10% of winners.

Knowing virtually nothing about my experience, skills and backing, the following claims were made to me one e-mail from VP ....

"I KNOW that our software will be able to enhance what you are doing in the markets, and now you have an opportunity to come on board at MUCH cheaper prices! It's only a matter of getting you into a few more profitable trades and steering you clear of a couple of losing trades and that will make a big difference! I've seen many clients pay back the software's cost in a single trade or two. The software could pay for itself just by keeping you out of one or two big losing trades... or by allowing you to keep profits that you normally would have given back."

"The easiest thing to do is put it on a credit card! It will be very easy to pay back the VantagePoint Software since you'll have so many markets to choose the best trade from. If you work with me closely in your first week or two, I think we can get it paid back before you even get your credit card bill. That's a goal that I have and we've been successful in doing that MANY times!"

Very easy, I'll be able to pay back the US$7400 before the credit card bill arrives (which could be next week, what a ridiculous thing to say). I doubt anyone would get away with making claims like that in Australia. If it's THAT easy to make money with this system, then why would anyone be a salesman if it prevented them from using the software????????

I see that VP now appears on Forex Factory as a preferred something-or-other, does that mean they are paying for advertising at FF?

rgds McDirt

* I made a mistake in my previous post, US$12,900 is the normal price for 69markets, US$7400 is the special price.
  • Post# 13
  • Quote
  • Oct 21, 2005 8:31pm | Edited at 8:36pm
  • fijitrader
    Joined Mar 2004 | 427 Posts | Status: Valued Member
Quoting mcdirt
Fiji,

I don't entirely agree with some of your logic. In the entire market, 90% of traders will lose but VP claims that they will place you firmly in the 10% of winners.

Knowing virtually nothing about my experience, skills and backing, the following claims were made to me one e-mail from VP ....

"I KNOW that our software will be able to enhance what you are doing in the markets, and now you have an opportunity to come on board at MUCH cheaper prices! It's only a matter of getting you into a few more profitable trades and steering you clear of a couple of losing trades and that will make a big difference! I've seen many clients pay back the software's cost in a single trade or two. The software could pay for itself just by keeping you out of one or two big losing trades... or by allowing you to keep profits that you normally would have given back."

"The easiest thing to do is put it on a credit card! It will be very easy to pay back the VantagePoint Software since you'll have so many markets to choose the best trade from. If you work with me closely in your first week or two, I think we can get it paid back before you even get your credit card bill. That's a goal that I have and we've been successful in doing that MANY times!"

Very easy, I'll be able to pay back the US$7400 before the credit card bill arrives (which could be next week, what a ridiculous thing to say). I doubt anyone would get away with making claims like that in Australia. If it's THAT easy to make money with this system, then why would anyone be a salesman if it prevented them from using the software????????

I see that VP now appears on Forex Factory as a preferred something-or-other, does that mean they are paying for advertising at FF?

rgds McDirt

* I made a mistake in my previous post, US$12,900 is the normal price for 69markets, US$7400 is the special price.
Beginning with your last comment first. If you are implying that I have anything to gain because VantagePoint advertises here you are mistaken. As was clearly mentioned by Merlin and myself -- I do not write articles or change them because someone advertises here. VantagePoints decision to advertise here was due to the fact that I reviewed their system and got favorable results using their software and published it here. I was informed by Merlin that they had become advertisers AFTER they had inked the deal with FF. We did not solicit their advertising but they approached us. If you think there is anything wrong with people advertising here then how do you suggest Merlin pay for the site?

What would be unethical would be for me to offer to write a favorable article and then have Merlin tell the vendor we'll publish it if they advertise on this site. Conversely it would also be unethical if an advertiser approached Merlin and said "write us a nice article and we'll advertise here". AND if either of those things was done but the facts were disclosed as paid advertising articles then that would be ethical.

Thanks for posting the sales article from VantagePoint. If they say they have done that a number of times I'm happy to hear it and it does not surprise me. If you have cause to doubt them then please post your evidence to substantiate your claim. I'm not in the habit of accusing people of wrongdoing that I don't have evidence to support. I can easily see how what they state could be true. While they are new to the Forex market and may have limited awareness of the tiny size accounts that retail forex traders are able to trade -- they are writing to you about buying software to trade 69 markets -- most of them futures.

I mean lets take their comments in context. If you are a trader who has the ability to trade in most or all of those markets then you are not a guy with a 10k account. Normally a trader spending 7 or 8k on trading software is probably someone with at least a 30 to 50k account which would be a pretty resonable assumption. Therefore in that context what they are suggesting is very feasable. In my sample system I had more than a 14k profit showing in less than 30 trading days on a 92 or 93k account size. I didn't use any of their assistance or call them to get help with strategy but did it entirely on my own. That was double the cost of the software using risk of around .6 percent. Take that up to 1.8 percent on a 30k account and the profit would be about the same. That would have paid for the software and made a 7k profit.

I don't see where in your notes they are saying they make any promises that you'll end up in the 10 percent making money. However it would not surprise me if they persuasively state that their software may help you achieve that. I don't think I've seen a single system seller or software seller that does not remind us that their product may increase the probability that we might achieve that.

I mean lets be real here. If you could show me false claims or clear misrepresentation I'd take it to heart. If you can only point to the fact that they want you to believe they may be able to help you by citing that they have previously done exactly what they are claiming then how are they doing anything that advertisers do not do everywhere?

FT
  • Post# 14
  • Quote
  • Oct 22, 2005 3:16am
  • mcdirt
    Joined Jan 2005 | 8 Posts | Status: Member
Fiji,

I don't think the forum will gain anything by me continuing this line of debate so I thank you for your comments and will leave it at that. I was not trying to imply anything, my opinion of you has not changed from my first post. I apologise to you and Merlin if that was the way it was taken - I was simply asking if VP are now an advertiser - what exactly is a "Preferred Service"? Are they all advertisers?

rgds McDirt
  • Post# 15
  • Quote
  • Oct 22, 2005 6:46am | Edited at 6:51am
  • fijitrader
    Joined Mar 2004 | 427 Posts | Status: Valued Member
Quoting mcdirt
Fiji,

I don't think the forum will gain anything by me continuing this line of debate so I thank you for your comments and will leave it at that. I was not trying to imply anything, my opinion of you has not changed from my first post. I apologise to you and Merlin if that was the way it was taken - I was simply asking if VP are now an advertiser - what exactly is a "Preferred Service"? Are they all advertisers?

rgds McDirt
If my response to your questions seems combative it was not intended. I take no offense from your questions. When I said "if you were implying..." I meant "if". If you were not implying that then my answer does not apply. I was not sure what you were getting at so I tackled your question from the "if" point of view. Sorry if it came across as an accusation. Not intended.

Personally I have no connection with the advertising side of things and do not know the answer to your question about "preferred service'. Perhaps Merlin does.

Thanks for your comments. I thought your questions legitimate and I did not think they were out of line. Even if you had been wondering (I understand you were not) about a connection between the articles and the advertising it would have been a legitimate question.

Thanks for the discussion,

FT
  • Post# 16
  • Quote
  • May 8, 2006 2:29pm
  • canoner
    Joined Apr 2006 | 15 Posts | Status: Member
So which one is the best data provider to go with VP now? CSI, Genesis, or CRB? How much do they charge monthly and are there hidden fees?
  • Post# 17
  • Quote
  • Last Post: May 14, 2006 7:06pm
  • fijitrader
    Joined Mar 2004 | 427 Posts | Status: Valued Member
Quoting canoner
So which one is the best data provider to go with VP now? CSI, Genesis, or CRB? How much do they charge monthly and are there hidden fees?
Ask BB in the VP discussion thread. I'm not up on who is the best for the systems that are being traded lately. I'm not sure if there has even been a consensus on this but there are distinct differences in the data between providers.

Ft
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