Chris Borgman of Diversified Trading sold me this Chuck Hughes GPS Advisory program touting it as terribly profitable, claiming it would produce 2-1/2 times my investment over the course of a year. There is a charge of $5,000 which works out to be $416 per month. After being in the program one month, I have a profit of $108.18.
Do the math: 416 (monthly fee @ $5000/yr) minus 108.18 (profit) = $307.82 (what it is cost me for the first month). If they do this each and every month: multiply 307.82 cost x 12 months = 3893.84. It will cost me $3893.84 for the year and I will have a $108.18 monthly profit multiplying out to $1298.16 for the year. That is providing I continue to go along with this nonsense and don't incur larger losses. Yes, I know in trading you can have up and down trades, but if they cannot handle one month of several trades and land a profit commensurate with the cost of the program with all this "successful" professional trading experience, heaven knows what a disaster this would be letting this continue.
I asked for a refund and they said to send them my brokerage statement so they can determine "what happened." Well, if they are following their trades, I would guess they would know what happened, wouldn't they? I will keep you posted as to what happens on this, but I will contest this on my Visa for the time being. When I called Chris Borgman on Friday, 10/23/09, he said he doesn't know why I could be unhappy with this program that returns 4 times your investment. Hmmm, first it was 2-1/2 times your investment before I signed up and now it is 4 times the investment when I am unhappy? Seems like it is getting more profitable once they have your $5,000.
If they are so good, why are they not honorable refunding the money? I could almost understand one month's "service" fee for bad advice, but to hold you to another 11 months that you do not want? They have given me nothing to warrant a $416 fee, much less a whole year's fee. They advertise Chuck Hughes as a professional, someone with a lifetime of highly profitable trading experience. Something is looking mighty stinky here... Is there anyone out there that subscribes to this service that is not affiliated with this program in any way that can assure me this is a highly profitable service?
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