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I sued GTA for not meeting the intent of our contractual agreement and lost!
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Everyone - Here is my experience with GTA: I sued GTA for not meeting the intent of our contractual agreement and lost! The company is not excepting any more subscribers for VECTOR, their Automated-trading program.
Don’t worry another similar bad opportunity under another name will open up for you to sign up and lose you money!! DON'T DO IT.
Here is my complaint I provided the court.
I was sold a misrepresented product as shown by Reason # 1 and Reason # 2.
Reason #1 - Global Trading Academy failed to perform, through its automated trading program, to the intent of our agreement. The program was marketed as an automated trading program that provides "True hands-free trading (that) lets you harness the power of your computer and Internet to participate in the more sophisticated financial markets with out being chained to your desk. VECTOR monitors the markets for you tick buy tick, in real time, and seeks market opportunities (profits) based on our proprietary parameters."
- Example 1: On April 19, 2011, I had $6,358 and in February 8,2012, after I got out, I was down to $1,975.20, a loss of $4,382 or about -69%.
If I had not revoked Vector Trading program's access to my account, today (September 27, 2012, the last automated trade was made June 6, 2012) I would have only $61 left and would have a margin call of around $1000.
- Example 2: In only 5 trades made between March 9, 2012 and last trade made June 6, 2012, with the last trade breaking even, produced -$1550 loss.
- (Comment: Not counting trade slippage’s)
In summary:
1) The program is not what it was sold to be.
2) The program is not trading; it only made 5 trades in over 6 months. It should average 1 trade every 4 days.
3) It is not working; I have no use for it and will not ever be using it!
Reason #2 - Because the "Hypothetical" spreadsheet that Global Trading Group showed me CONTAINS TRADE DATES, Global Trading Group mislead me into believing, that the trade results represented actual software test-trade responses of the Vector Trading Program to actual market conditions and values over a test period of 5.9 years of its development! The spreadsheet shows that, with out compounding, by just trading 2 contracts (average $323 for the two) the program would have produced $59,475.00 in those 5.9 years.
In summary: If I had known what I was being shown was FAKE, I would not have invested in the program!
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