Description
Automated trading system.
If you’ve subscribed to Swing Point Trader, please click the stars below to indicate your rating for this newsletter, and please share any other feedback about your experience using the comment box below.
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I subscribed on June 24, 2009. I paid about $1188 for a one-year contract. I had been informed that the price would go up sharply in the near future so went in, even though I knew that I would not be home until July 10. I had problems with my ISP and my broker so was not ready to start trading until early August. As nearly as I can see none of the recommended trades got to the entry point, although I had other problems so was not monitoring every recommendation every day, only the ones that looked best. The first week of Sept I asked if they would give me a pro-rated refund. I got back a snippy letter stating that it came with a 30-day money back, and asking for proof that I had asked for a refund within that time. I responded by asking if the unused portion of the time could be transferred to their ETF system. They have been back from Labor Day for two whole days and have not bothered to reply.
Do not subscribe to this news letter. They will not give you your money back unless you tell them to before 30 days. It is a scam. I would have give everything no stars if it was available.
You cannot get into these stocks at the entry point recommended. when I would get the email recommending the stock I would go straight to Ameritrade after hours. The stock that was recommended would have run up after hours. It was like someone knew the trade and was buying ahead of time.
I have asked for times to put my money in another one of their newsletters but they will not do it.
Also the newsletter renews automatically so you need to tell them not to renew it if you are unhappy.
I would love to know if anyone is satisfied with this purchase as i am thinking of contacting my state’s Attorney General as this newsletter is a scam.
Gosh, two thousand bucks for this service is the second best joke, the first best is Swing Point Trader service itself.
Having got burned by the previous no.1 joke (Sector Hunter), I got very cautious with the cancellation policy. I tabulated the results right from day 1. About one third of the recommendations was able to be entered for trade, others didn’t meet the price target. Among the entered trades, counting all those that would have got stopped and all that would have reached the given profit potential, the net result was in negative. I tried this for the first 29 days of this service. No prizes for guessing that I made a call to cancel my subscription on the 30th day! At that time, the rep offered me to use the refund as a credit for a subsidized price The Trend Rider, but i am not willing to spend my time on anything related to Tycoon, when there are excellent products available from InvestorPlaceMedia and Scheffers.
No, I don’t have anything personal against Sector Hunter except for its disastrous performance, Tycoon not admitting it and bragging as though this is the most sought out service, and Tycoon customer service totally ignoring me and refusing to talk to me or respond to my emails. It even removed the comments section entirely of its website after people started cribbing about the credibility of the basis of SH.
Also, the fact that Sector Hunter and Swing Point Trader signals are always sent as a bunch for the day well after market is closed proves that this is not an 100% automatic service as claimed, but someone compiles it and sends it.
I am 100% confident that the renewal rates of Tycoon services will be less than 10%. You decide the rest.
If you are still considering Tycoon services, let me tell you that I can provide you (random) alerts that will beat Sector Hunter 3:1 and Swing Point Trader 2:1.
I subscribed to Swing Point Trader in June 2009 and since then have been completely unsatisfied with the results and customer service levels.
Initially they showed examples of winners from the past that were not visible on the system, supposed winners from before the program started. Since I started with them I have tracked almost every pick, minus two weeks, they have provided and found the following:
– only a few of the picks allowed entry prices
– of the few picks that allowed entry prices most of them fell below their stop loss prices and the handful that did move above the entry price only maxed at 2%
– after analysis on their picks almost every single one was on the tail end of a cycle of gains on the stock, thus explaining why most fell below the stop loss prices after their reccomendations.
– even though Teeka Tiwari, the creator of the service, personally recommended not trading stocks with average trading volumes less than 200k (common sense volatility factor) they provided too many picks with less than 200k trading volumes. Any purchase of 20-50k in these low volume stocks would have created serious price volatilty on these shares. I doubt that with their supposed large capital success that were making trades that small.
– simple fundamentals like 50 day moving average and exponential moving averages did not align with their picks, something price trends tend to follow.
– I could go on…..
My second point of disatisfaction and more so loss of trust was their customer service. I subcribed for the quarterly autobill and after 2.5 months of dismal performance on their picks I wanted to cancel before the second quarter was charged. I sent an email for cancellation and simply received an autoreply email stating that someone would call me to cancel,as cancellation is only considered official through the phone. It has been more than 4 days since that email and I have phoned them more than ten times to cancel and left messages, nobody answers the phone. Either way I sent in a dispute to my credit card company before the fact with a copy of their email so I don’t get charged.
The conclusion…..terrible program and terrible customer service that cannot be contacted, you be the judge. If you’re in this get out ASAP.
I subscribe to 3 other services that are much better and a third of the price ( i.e. Angel Publishing)
Fellow Traders,
Keep away from Sector Hunter or anything from Tycoon U ….
Got awful results from Sector Hunter in 2009. The system kept on generating false sell signals while the market powered higher and higher.
Discovered that annual subscription is automatically renewed (although no email is sent to remind or alert you of this fact).. and now I can’t get a refund for a service I no longer use.
Well done Tycoon – you set out to be the good guys but it’s just a trap.