• Report: #652015

Complaint Review: Nexgen t3 trading software

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  • Submitted: Sun, October 17, 2010
  • Updated: Mon, January 02, 2012

  • Reported By: sunny — austin Texas United States of America
Nexgen t3 trading software
50 Palmer Woods Drive The Woodlands , TX 77381 woodlands, Texas United States of America

Nexgen t3 trading software Ripoff for the cost to value of the trading sofware woodlands, Texas

*REBUTTAL Individual responds: check out that also

*REBUTTAL Individual responds: Ripoff- no value services

*Consumer Comment: Different Experience than Original Rpeort

*Author of original report: Sorry -- No 2 week traing

*Consumer Comment: Different Experience

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I bought this trading software 2 years ago and I am still playing on Simulation. Nexgen t3 is good for plotting the market but it is not worth a penny when it comes to the entry points and entry signals. It is a lagging software means it runs behind the price bars, there are a lot of software in the market which costs any-ware between 195/month to 3490(for the software) who can give actual entry signal 4 bars ahead.This costs 14500 for the software only with no confirmation of entry at all. They do not have set rules either, they changed their all study guide since I bought the software. Basically no build in setup , no build in entry point, no grantee to win a trade, then why they are asking 14500.00 for the software. I think  it should cost only 500-2500 dollars for charting the market. I know a lot of people who emptied their accounts and who are making money are using different other tools behind the scene. Well my concern is to prevent other people getting into it unless Nexgen t3 proves that they have something that will help in entering the market and will plot it ahead of the market , not when the market already rolled. Again Nexgen t3 is a lagging plotting software not an advance software which can provide entry signals.  If somebody want to buy it, check the market first and check the prices for other leading software also. 

This report was posted on Ripoff Report on 10/17/2010 03:10 PM and is a permanent record located here: http://www.ripoffreport.com/r/Nexgen-t3-trading-software/woodlands-Texas-77381/Nexgen-t3-trading-software-Ripoff-for-the-cost-to-value-of-the-trading-sofware-woodlands-652015. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
1Author 2Consumer 2Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Individual responds

check out that also

AUTHOR: Tom - (United States of America)

http://www.cftc.gov/opa/enf04/opa4977-04.htm

please check out that.

How come a person who do not trade can teach clients how to trade?good job Novak
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#2 REBUTTAL Individual responds

Ripoff- no value services

AUTHOR: Tom - (United States of America)

I am agreed with the auther, I am also Nexgen client and spend a lot of money to buy sucess. Well, Nexgen has good training tream and they TRY to educate their clients. I was disappointed with their upgrading services. Salesman promised me in the begining that any upgrades will be made avaiable to me. They launched revolutiona and I asked for updated file and he said goive me an hour. I called after 2 hours and he said you can not get that because it is nor Protrader. F**K that .... it is the same set of indicators. Well all I can say go to bigmiketrading.com and they have all these indicators for free. save your money.... Worst customer service and ROR in my life.
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#3 Consumer Comment

Different Experience than Original Rpeort

AUTHOR: steelheadglx - (United States of America)

Disclaimers - I am not affiliated nor with Nexgen, it's founder, employees or any related business or products in any way. I am a licensee of the software since February, 2009. I am an amateur trader. I trade futures, options and equities markets. I have 3000+ hours experience in use of the Nexgen T3 software. 

Regarding the report claim regarding lifetime upgrades, the invoice I received clearly states lifetime upgrades included and to my knowledge, this has been fulfilled. On one occasion I received email notification from Nexgen about an upgrade, downloaded the file, and performed a system upgrade.

I have utilized Nexgen technical service on any number of occasions and find them professional and knowledgeable. My only comment would be that their availability during off hours for US markets isn't as good. Nothing about that suggests a scam.

Nexgen T3 software was never represented as printing buy/sell signals. Rather, the user must, through study of patterns, determine market entry and exit points. Nexgen provide ample coaching and daily real time market analysis classroom. That said, I sympathize with the author about the study guides as I found them to simply be too subjective to trade effectively. It was through personal effort that I learned to trade this software.

With experience, one recognizes the significance of the software-generated fibonacci lines, and the algorithms crossovers - aka the "triggers" - as key support/resistance areas. The macd information in conjunction with bollinger bands provides greater detail into the strength of the trend and probability of reversal as well.

Bottom line - Using the Nexgen T3 isn't easy. But it's legitimate. I wouldn't trade the markets as aggressively as I do without this software. But - do your homework in developing a proven trading plan.

I also have attended Investors Business Daily courses I and II, and am a graduate of the Online Trading Academy course for Equities trading. I use learnings from all three, but rely most on Nexgen T3 for entry/exit decisions.
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#4 Author of original report

Sorry -- No 2 week traing

AUTHOR: sunny - (USA)

1>>Looks like a salesman again, Nexgen never offered 2 week Demo.
2>>I studied a lot too and this is why I concluded alll that. Now I made my way up  but it is not because i am using NEXGEN Trading software. They gave me training when I was on demo, later they tell you what you ask and they call themselves education service.
3>> conclution: it is way overpriced so be careful before you spend your money.. check what they did now --- same Nexgen software and they added entry signals and now they do not want to give upgrade to the previous users even though they promised and repeatedly said that it comes with LIFETIME UPGRADES OF ANY KIND. Bull Sh*!!!!!!!!!!!!!!!!!!
4>> I am warning new buyers or demo users or who want to buy. Make sure you get everything in writing from John Novak only that whatever improvements he will make in any of his system  , end user will get that.
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#5 Consumer Comment

Different Experience

AUTHOR: disappointed - (United States of America)

I have been doing the demo for Nexgen for the past 2 weeks.  Part of my due diligence is to look at reviews.  I have to say, the negative ones I have seenincluding this one do not represent my experience at all.

I have been trading full time for about 2 years.  I have done extensive training on my own and with various training and mentoring organizations.  I finally came up with a trading plan that was profitable predominately using fibs.  I really felt my system could be better, but I was struggling with making changes that didnt worsen my results. 

I was evaluating Nexgen to see if it would do the following things:

1.    
Weed out some of my losing trades.

2.   
Give me an opportunity to exit trades with the ability to reenter if the setup started to work again.

3.    
Give me a plan for a strong trending market.

4.     
Do all the above WITHOUT preventing me from taking the winning setups that my own personal system produced. 

I found that it definitely does all of the above quite consistently. 

I dont understand the reviewers comments about lagging indicators.  Nearly all indicators are lagging; fibs arent.   Nexgen does provide a VERY clear way to use the systemDirection, Area, Risk, Entry.  Once you learn that, there are advanced setups.  They also teach trade management.  What you do when you have a runner is quite different than what you with a trade thats stalled right out of the gate.   

Over the course of my trading endeavors I have come to realize that any system that gives you a slight edge (ie, trading in the direction of the trend) and gives you a clear way to trade consistently will make you profitable.  Thats the easy part.  The hard part is following it.. and realizing you WILL have losing trades.  While I believe the T3 systems is quite adequate in this department, what I find to be the best asset of Nexgen is their support.  I have not paid a dime, but I have had 6 or 7 one-on-one sessions with one of their educators.   In my first session I asked him to point out the entries/exits for the e-mini I trade.  I had him do it for a day that I was profitable and a day that I was not.   I didnt show him my trades.   The system did well when dealing with the 4 issues I listed above.   It definitely had losing trades; he showed those without reluctance.   My next objective was to make sure he followed the same rules they teach.   I learned them and marked up my charts.   He reviewed them with me and clearly explained any mistakes that I made.  There was nothing contradictory about his explanations.  Over the next several sessions he showed me some advanced setups.  He explained specifically how to identify a strong trending market.   If X, Y and Z happen, then you have a strong trending market.  It may LOOK like a strong trending market, but it isnt until those 3 things happenperiod.  Otherwise, you must CONSISTENLY trade it the same way as you always would.   If you dont learn this, YOU WILL LOSE MONEY.  You also need to learn how to avoid choppy marketshe explained how to do that.  He explained exactly what I needed to see before it was safe to trade again.   I suspect those that are consistently losing money have not learned these lessons. 

After I was able to mark up my charts correctly, I moved to simulator.   I have a lot more choices than I had with my original system.    Adding Nexgen has reduced my losses and increased my percentage of winning trades. 

Here are 2 other examples of the exemplary support I have received.  I mentioned to my educator that my system was slow lately and that it crashed often.  He told me to mention it to my sales contact and they would have their tech support guy check it out.  I didwithin in 2 minutes, the support tech was skyping me.  He accessed my system and made some changes that stopped Tradestation from locking up.   They also offered to load Ninja Trader so I could compare.   When I said yes, someone immediately contacted me and loaded the software. 

Trading isnt for everyone.  No amount of training or indicators will fix that.  You have to listen and understand what youre being taught.  It takes time, it has been my experience that they are certainly willing to invest the timeif you are.   

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