It (in part) goes: “He ends the day by turning on the computer to check his stocks. With a click of the mouse, he sees the alerts that tell him to sell two stocks and buy one that’s in the watch list. Within 3 minutes, his trades are placed for the following morning. He smiles because he knows that before he even starts his work day tomorrow, he made more money on that trade than he makes in a week at his job. What program does he use to make money with such ease? It’s Ross Chardine’s(sp?) stock-investing tool kit.”
They send you (according to their ad) a free instructional DVD and stock-investing software.
My question is whether or not any of you have tried it and, if you have, was it as wonderful as they make it out to be? … do you make easy dough like they claim? What’s the down side?
If it works as well as he says, why is he selling it to you? Does he make money investing with his software, or does he make money selling his software?
What they are claiming is impossible. It is similar to day-trading which has bankrupted many people over the years. It isn’t possible for software to tell you what stocks to buy and sell in a short time-frame to make much money if at all. There are Ph.D.'s that come up with computer based stock models for a time that work somewhat. The problem is that they have to run vast amounts of money through the market to exploit small statistical quirks they find. It usully requires, advanced degrees, staff, and supercomputers to get it to work at all. After a while, the market as a whole will “see” the inefficiency and begin to close it. You don’t have hundreds of millions of dollars like they. Even $50,000 of your own money won’t get you much investment returm in the short-term especially when commissions will eat up most or all of your short-term profits on smaller trades.
The thought that there is some off the shelf software that will tell you what stocks to buy and make you money is COMPLETELY ABSURD.
It’s snake oil, fairy dust, magic potion, pot of gold at the end of the rainbow, too good to be true. . .and a thousand other cliches that might apply.
A little bit of both. If I wrote the software, I’d simply use it to schill for stocks I owned and wanted to unload. If I have stock in ABC, I’d use the software to tell my clients to buy ABC stock and then sell my stocks when the price rises. Of course, it’s probably a bit more sophisticated than that, but I’d suspect a scam.