I wish I had read this report before I committed myself to this program. I bought the fully automated program for around $12,500 AUD after the salesman lied to me about how much profit you can make and how you make it.
Firstly he told me you can make a GAURANTEED (even though they don't give a guarrentee for the SDA) profit of $120 per day 7 days a week. This would net you tax free about $700 to $1000 a week for a few minutes work. Just set it and go out for the day he said.
If I did that I would come back from a lovely day out to bankrupcy as it only takes 3 to for losses in a row to wipe out $3000 to $5000. I lost $1000 twice and was too scared to make the next bet in case it wiped me out so the first time I reset the profit (loss) and ran it to win $100 which it did and I thought I would rebuild slowly except believe it or not 3rd place protested against 1st and won, so again I lost so I stopped.
The next time I lost $1000 so I clicked over to a paper trade for the rest of the day to see what would have happened, after 6 losses I would have lost $15000 not that I had that left but you get my drift. Even if I had $20,000 in my account I doubt if the TAB could have been able to cope with the massive bet.in fact when it did eventually win the odds dropped only about 20 cents onthe winner so I would have still been down $2000 and so it goes.
I am lucky that I have protected the last $2000 in my account mainly because I was scared to go past 2 or 3 losses.
The other lies they told me or lack of information was that I had to pay in HK dollars, that I needed to open a Uni Tab account which has smaller pools that Vic TAB and the parameters they set for the paper trade was far from the realistic parameters you need to set on a live trade.
I have a taped telephone conversation of the sales man telling me some of these lies if anyone is interested. I can't believe that there hasn't been a class action against these people yet ot at least a story on ACA. If anyone wants to talk to me especially if you can tell me a way to turm my remaining $2000 into $12500 before my wife divorces me or I shoot myself be in touch. Thankyou.
Rod
Kerrimuir
Australia
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