I came across automatedtradingalgos.com through their "fully automated home business" posting on bizbuysell.com. They are a company of 2 people - Dan Sukja and John Weber - that claim to be coders and developers. They sell an automated trading system developed to trade index futures using the Tradestation platform, which can be bought for $15000. For a newbie, who's new to futures trading, and Tradestation, the performance reports that are avilable on their website look pretty good - I admit, I fell for the face value of what was portrayed, however, I found out the reality after having signed up with them.
They first have you setup a live account with Tradestation and then setup the systems on your account using remote access - risky! After the setup was complete, the algorithms failed to execute at times and were going haywire outright (would randomly take trades and exit for a loss, then trade the other direction and lose again). The whole reality and unreliability of operating the systems made me lose confidence and I also lost $10000 in trading in just 3 months. I was really disappointed to say the least, and let the seller know that I would never use the systems again. The seller then made excuses and explained intricacies that were never covered before I signed up with them. I also found out that they were changing their own setups, but keeping me with the same setups that lost me money.
I paid them $7500 to start with per contract. I asked for a refund, but of course they won't pay me back. Now, they're asking for the remaining $7500, which makes no sense to me. But, because there's a contract, I think I am at a disadvantage. I really have no use for their service or the algorithms, so I don't think I should pay. Similar, services charge less than half $7500. I think the seller is targeting high net worth newbies to sign up and have them commit to an expensive contract, judging by the fact that he advertises on a "franchise businesses for sale" website.
If anyone has gone through handling such an experience, I would like your feedback. Also, I would appreciate any legal help on this situation. I've already filed complaints with NFA, CFTC and FTC about this same issue.
Automated Trading Algos Reviews
I came across automatedtradingalgos.com through their "fully automated home business" posting on bizbuysell.com. They are a company of 2 people - Dan Sukja and John Weber - that claim to be coders and developers. They sell an automated trading system developed to trade index futures using the Tradestation platform, which can be bought for $15000. For a newbie, who's new to futures trading, and Tradestation, the performance reports that are avilable on their website look pretty good - I admit, I fell for the face value of what was portrayed, however, I found out the reality after having signed up with them.
They first have you setup a live account with Tradestation and then setup the systems on your account using remote access - risky! After the setup was complete, the algorithms failed to execute at times and were going haywire outright (would randomly take trades and exit for a loss, then trade the other direction and lose again). The whole reality and unreliability of operating the systems made me lose confidence and I also lost $10000 in trading in just 3 months. I was really disappointed to say the least, and let the seller know that I would never use the systems again. The seller then made excuses and explained intricacies that were never covered before I signed up with them. I also found out that they were changing their own setups, but keeping me with the same setups that lost me money.
I paid them $7500 to start with per contract. I asked for a refund, but of course they won't pay me back. Now, they're asking for the remaining $7500, which makes no sense to me. But, because there's a contract, I think I am at a disadvantage. I really have no use for their service or the algorithms, so I don't think I should pay. Similar, services charge less than half $7500. I think the seller is targeting high net worth newbies to sign up and have them commit to an expensive contract, judging by the fact that he advertises on a "franchise businesses for sale" website.
If anyone has gone through handling such an experience, I would like your feedback. Also, I would appreciate any legal help on this situation. I've already filed complaints with NFA, CFTC and FTC about this same issue.