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An update for everyone who has read this forum:
There is no lifestyle trader company anymore – the product has been sold(?) and rebranded as investment capital systems. However it is the same product. When I contacted the complaints department and stated I was requesting a reimbursement of my initial investment due to fraud claim that this was not a moving average system (and had proof of this) I was told not to email the new company as Lifestle trader is no longer trading and there may be 'little response to this request'.
So I have contacted the ASIC, ACCC and dept. of fair trading. I have put in complaints however have been informed to try to talk to the lifestyle trader company firstly. This is the stage I am at now.
I feel that I can only do this, inform people of <moderator: delete personal comment> the difficulties faced with the company and move on. I dont want to expend negative energy on this for too long. I need to accept the mistake that I joined the company and move on.
Thanks for the posts and the emails I have received.
Hi there, Yes I think this is a really good area to invest in. I have been living in Camden for the last 4 years and it is undergoing tremendous growth. I have bought a townhouse in Camden and am now looking to purchase in the 2570 postcode. I think that there is great potential for capital gains. How are you going with your research?
I know this topic is a little old from last year, but I have found this post really good and its refreshing to see two different sides of the coin like this. Engelo, I empathize with you because I can relate to your position but its good to be grilled and Jack I think knows what he is talking about. I have learnt a few things too.
Thanks so much sponge65 for your detailed comment – that is exactly the type of information I was looking for.
I understand completely how you feel about being cheated, its hard not to dwell on it, especially when the product was endorsed by people you trust at the time. Anyway I am still working on establishing whether or not I will be able to claim for a refund, I want to try but I am moving on too, saving money again and at this stage will stick to real estate. But I tell you I have learnt such a valuable lesson not to part with my money before I ask some very detailed questions and seek advice, and not fall prey to sales pitch such as this.
Thanks again for posting.
Thanks again for everyones comment. Very interesting speedy gonzales…I read the article and found one of the comments to it amusing "why didnt aussie rob trade his way out of his debt"….surely that is true!!!
I have had some great advice which I am very grateful for. Terry I would like very much to have a chat, thankyou for the offer. Let me know how to best contact you.
Also I will enquire with the dept. of fair trading. And yes will definately keep people posted on the progress and whether I am successful or not with a refund.
Thanks everyone for your comments. I am going to seek legal advice this week before I ask for my money back because I get the feeling it wont be that easy. The crest thanks for the advice on passive income, I will look into it. To be honest I have a fair bit of money tied up with Aussie Rob and need to sort this out first, feel a bit burned at the moment. You are very lucky you did not sign up for this and sounds like you knew which questions to ask. I will know after this incident too.
Ice-cake – you are right. Aussie Rob claims he does not have a moving average system.
and Samo yes thats true, you can claim your money back for options (about 3 grand), however I purchased the entire package which includes commodities, forex and ETF's…a total of 14,000.
Vet80
Thanks for your comments
@crazy cod – actually yes I thought to post on forex factory – will do and see what I get there@ the crest and icecake – The system had a money back guarantee for 3 months only, it just wasnt enought time for me to fully test the system and I believed in what I was doing and didnt see a problem at that time. There was so much to learn during the first 6 months that I immersed myself in the training modules. Its just now that I have paper traded and over the last 3 months that problems with the system have come to the surface. I will try to get my money back…I just need to go about it in the right way.
And icecake – they have been questioned a number of times (by they I mean the company CEO and various educators) about the the fact that people think it is a simple moving average system and they swear black and blue it is not. But ofcourse they cant tell us how they get the crosses – however yes I can reproduce them using a 2 and 5 day moving average.
And another thing – this company has been scrutinized by the ASIC (australian securities) and they are offering refund to people who purchased the options package as the ASIC feels they made illegitimate claims saying that 'options are easy'. They have also rebranded and changed their name and offered existing clients access to 'trading pits' – which is apparently where you get to sit in on and see what the company is trading daily. However to access this service you need to sign another disclaimer form which basically states you wont be asking for a refund…all smells very fishy to me…
Anyway thanks for peoples comments…just wanted to see what was out there, as I mentioned above, there were probably about 40-50 people who I say buy the package at steve's conference so I wanted to see how these people are going. But by the sounds of it no one has been successful (atleast those subscribed here).
Vet80
Hello Andrew and Derek – I really appreciate your replies.
I have scoured the internet and read just about everything that I can find on Aussie Rob and Lifestyle trader. Its just that many of the comments are from people who have not legitimately tried the system. I can also see how you could get discouraged with this system and not give it a fair go because it is not simple and its not easy to someone who has never traded before. However my partner and I both persisted diligently paper trading every day and following what the apparent rules were – and have not been successful for 1 year now. To give you values we paper traded forex with a starting account of 40,000 and saw this go +/- 4000 – we dont feel the system works. Also Andrew we did get onto Van Tharp and have most of his books and I have done some of his online courses and currently my partner is involved with Niel Fuller – in which we paid $350 and get unlimited support and advice which is very specific.
Anyway what I was searching for was real live advice from people that have made money using this system and that are not sales people affiliated with the company. I have yet to find this evidence. I just wish I had requested it when I bought the program. However – no one really wants to say the truth either and actually honestly tell me to just stop using this system and move on and I am unsure why?
On the positive have I learnt about trading using this system – Yes…however is it worth 14,000????
If there is anyone out there who can prove me wrong – I would love to hear from you.
Cheers
Vet80
