Discussion in 'Trading' started by rting, May 19, 2011.
Has anyone heard of them? Any facts, experiences, references, scam/not scam, etc. are most welcomed.
I was contacted by them today and would also like to know more about them. Apparently they run an automated trading program (called NERO) in mini-NASDAQ futures using a base accounts comprised of $4000 units. They are charging a fee of $3000 to start the automated program account with no monthly fees for the first year. I would like to read what some people who have tried the program it think of it.
I have since decided to skip Sand Hill ...
The reason being that system trading is not limited to what they offer ... so why pay a premium to have someone do it when there are others.
Also, I looked over their trading records and I am not satisfied with the size of the stop losses vs. account size, etc.
For the record, Sand Hill people called me today and had a productive discussion.
The conclusion is that I prefer oranges and they are basically offering apples only. I am a discretionery trader so what they are offering is not to my taste as a personal preference.
I will probably not look at their system until I have a large enough account to afford to trade two different systems.
The bottomline is that their trades are as posted so one can arrive at their own conclusions by simply reviewing the trades posted.
I will probably pass on this for the time being too. The guy has a god sales pitch but the $3000 price tag is pretty steep for someone who does not have a large account to start with. The trades they have posted from the last couple of years look impressive, but there is no way to verify that those figures are actually true. I did a google search on the company and was surprized to find very little info available on this company even though they are supposed to have been running this Nero automated system since 2008. That makes me a bit suspicious as well.
Any recent contacts from this group.
I got repeated calls and eventually spoke with a "sales rep" who did the usual flim flam job of taking me to a performance page and asking me to read the fantastic results out loud. They probably think this performs a transformational set up of the nervous system.
He then transferred me to some technical guy who led off by saying this may not be for you. Interesting as Id asked for pretty standard info - give me sample newsletters by the trader, send disclosure statement etc. An instant response was promised and nothing arrived.
They emphasized how busy professionals used their products. Average client is supposed to put up $20,000. Trader provides entry points week in advance (I think he said this). Client can override if he wants. Trader sounds like Andre Korchnoi (havent been able to id this. Name is same as of a famous chess player). 22% of clients are past/existing traders. We didnt even get to the hefty fee part but if you believe the numbers its a pittance to pay for this Madoff exceeding performance.
Caveat emptor folks. Let us know if you have had close encounters of the 3rd kind.
I am actually surprised that they are still pitching for clients.
My original post was May last year and I figured their business model of selling their services would have meant that they are not very successful in their selling as most traders can see right through it (of switching the person you are speaking to, etc.)? Trading is not about speaking to someone who sounds more professional?
Either this is a ponzi scheme of "needing to add new investors" all the time OR it works somewhat but their posted trades have a hard time convincing real traders who have access to the same data from the exchanges.
I would avoid them.
One of the worst auto trading systems I come acrossed. It's done not thing but lose my money.... I can't believe I paid them to do that.
If it sounds too good to be true .... IT IS.....
its like they say, there's a sucker born everyday
SOCKET-PUPPET THREAD EVALUATION
Score: 6 (out of possible 10)
As far as sock-puppet threads go, this one is more sophisticated than most. Note that most of the posts here bash the Sand Hill whatever-it's-called. That's certainly credibility-enhancing, and a clever way to draw attention to the subject at hand.
Once again, however, sock-puppets fall into the trap of insufficiently aging their accounts. Whenever a thread is dominated by participants with 1 post--or, at most, a handful a posts--to their "names," you know it's bullshit.
Sigh. When will the sock-puppets learn?
Separate names with a comma.