- Report: #1130780
Report - Rebuttal - Arbitrate
Complaint Review: MyStockTradingBiz | Ripoff Report Verified™ …businesses you can trust. Rich Metzger, MyStockTradingBiz provides automated turn-key solutions for profitable trading E-Mini NQ Futures. Dedicated to 100% customer satisfaction, personally meets customers in person unless customer opts out of personal meeting. Three algorithms traded automatically using Tradestation platform, O1 Overnight Gap System, B1 Breakout System, & T1 Burst System.
Rich MetzgerLos Angeles Idaho, Idaho USA
MyStockTradingBiz.com REVIEW: Richard Metzger dedicated to total customer satisfaction. Richard Metzger / MyStockTradingBiz dedicated to providing hedge fund quality quant trading to retail investors. No system is perfect, past & present performance nothing short of amazing.
*UPDATE: MyStockTradingBiz / Richard Metzger pledges their commitment to Ripoff Report's Corporate Advocacy, Business Remediation and Customer Satisfaction Program. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. MyStockTradingBiz recognized by Ripoff Report Verified™ as a safe business service.
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EDitor’s UPDATE: Positive rating and recognition has been given to Richard Metzger and MyStockTradingBiz for its commitment to excellence in customer service.
Ripoff Report’s discussions with MyStockTradingBiz have uncovered an ongoing commitment by the company to total client satisfaction. This commitment is unprecedented in the industry they serve. For one, they offer an onsite installation service where they actually travel to their customers location and perform a professional installation of the algorithms onto their customers tradestation platform. Furthermore, they provide 24/7 phone support to all customers. They are available to help ensure customers are properly trading their three algorithms. They don't just do the install and vanish. [continued below]....
www.MyStockTradingBiz.com owner Richard Metzger, has informed us that his personal philosophy is that his clients are a precious resource and he understands they are paying a good amount of money for the algorithms and therefore his number one priority is ensuring they are traded properly. The algorithms themselves are fully automated - so post-training interaction is usually minimal, however as the developer of the algorithms he loves discussing them as well as staying in touch with previous customers. MyStockTradingBiz periodically sends off emails to past customers asking them how everything is going.
According to Richard, this is probably due to the extensive support that his company provides post-installation and because they actually meet their customers face to face during the onsite installation. He is really building a community of traders.
"We're all in this together. We are all trading the same instrument (NQ Futures) and are following the same algorithm. When we have a big winner, we all celebrate collectively. I get email/text's all the time congratulating me on a winning trade or in the general performance of the algorithms. Initially, customers are somewhat skeptical - given the amazing returns we post. Once we do the install, our customers are able to see for themselves all of the trades the algorithms have generated going back to 2003. This is over 2500 trades that the platform summarizes in the trade reports. This kind of thing can not be faked. It proves that there is an algorithm that generates the trades we post on a back-tested basis. The only question is, will it continue? As far as we know, it will. Of course there are no guarantees, and that's the risk we all take. One things for sure, with a 10+ year back-tested history, over 2500 trades and profit factors between 1.30 and 1.80, we have no reason to doubt the incredible results will stop. Furthermore, since offering the system to the general public back in August of 2013, we've seen actual performance continue to match the expectations we post. This is pretty incredible. Our customers are getting an amazing opportunity. The chance to trade their own accounts with an edge that's usually only reserved for Hedge Funds and large scale brokerage firms.” ~ Richard Metzger Owner
The information provided in this report below is based on comments made by the owner, Richard Metzger, during an on-site inspection held by a third-party verification company with no biases toward MyStockTradingBiz.com.
Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..
MyStockTradingBiz.com is a software start-up company, whose owner, Richard Metzger, has been in business since August of 2013. “This business is based on an intangible product that is written solely by the owner, and sold with the help of two hired sales representatives in offsite locations of Los Angeles and Las Vegas,” states Mr. Metzger, who provides either on-site visits and/or online installation of his software program.
Leads are typically acquired through advertising on the Internet, specifically, bizbell, bizquest and bizben. Potential customers contact the sales agents who then provide demonstrations. The leads are then passed on to Mr. Metzger for further questions and sales orders. He then speaks with the new client about preferences for on-site installation or online installation. After a customer lead, the sales team representative contacts the potential client and offers a demonstration, at which point they are shown a mathematical algorithm, which demonstrates the self-perpetuating program. Further questions are answered, and then a sales contract, software license agreement with risk disclosures and a non-disclosure agreement are presented to the potential client. The forms are signed and a mutually agreed upon date is determined for implementation. Mr. Metzger then implements accordingly while he, himself, visits the client personally for only one day during an actual installation.
www.MyStockTradingBiz.com Customer Service Improvements
Since receiving complaints through Ripoff Report, post-implementation surveys are being developed to ensure customer satisfaction, while keeping in close contact with all customers via e-mail and phone calls. The company has been in business since August of 2013 so, at this point, there are only a handful of customers. Mr. Metzger states that after learning of the complaint lodged against his company on Ripoff Report, he was able to contact all of his customers personally, and none of them voiced any dissatisfaction. Mr. Metzger is not aware of any particular common complaints, stating that he is committed to excellent customer service and to keeping in contact with all of his customers to ensure they are satisfied.
To resolve the complaint lodged on Ripoff Report, Mr. Metzger has since hired an attorney, called or e-mailed all of his customers to make sure they are still satisfied with the product, and has also spoken with his sales staff to determine if they had received any complaints from the field. Mr. Metzger states that he feels it’s best to have a good working relationship with his team and his customers at all times.
Mr. Metzger and MyStockTradingBiz.com recognize the value of working with Ripoff Report and its Corporate Advocacy Business Remediation and Customer Satisfaction Program, and the platform it provides for businesses and customers to interact and resolve issues. Mr. Metzger feels it’s best to take the high road and reach out to the unhappy customer to help resolve the issue. He also strives to keep a good working relationship with his sales team and his customers and is trying to learn from every experience.
"I feel the service I offer, a program of ‘trading’ algorithms, speaks for [itself], with authenticated performance reports, based on complex mathematical equations… I meet all my customers personally, with the exception of those who chose to install online without a visit. I keep in touch with my clients… The program does come with risk, as all trading does. This is disclosed up front as required by law, and indicated on my website,” states Mr. Metzger. He would like to personally reach out to any individual who feels dissatisfied with his program and work on resolving the issue.
www.MyStockTradingBiz.com Customer Testimonials
"Hi Richard, It is going well. I am up a little over $10k on the $25k base. I am still only trading 4 contracts. Two nights ago, the over night RT TE was a little scary when the Asian markets opened, but it turned out ok when the US market opened. Thanks," - email received on 2/21/14
"Thanks for checking in. I am currently still trading 4 contracts, however I'm going to be increasing that to 10. I am waiting for TradeStation to receive the deposit that I made a couple of days ago. So far, I am invested the 20,000 and in 30 days the $20,000 grew to $27,000. The results are great! Thank you." - email received on 2/22/14
"Hi Rich,Good news: I'm up money for the 2 week period! News: the "Burst" hasn't triggered yet, after 1 week. Has it triggered for you yet?" - email received on 1/22/14
"Glad we are flat today!" - Text received on 3/24/14
"Hey Richard, Good day today for us, even with the big down day in the markets. Yay!" - email received on 1/23/14
"I have been using this system for about 2 and half months, it returned over 20% per month on my trades" - email review received on 1/3/14
"Rich's system works well during the last two months of 2013. " - email review received on 1/3/14
"I purchased the algos from Richard. I am very happy so far with his service (he came out to LA and spent about 8 hours with me showing me how they work). However, I have not "gone live" yet. This is because I noticed that his algos didn't perform as well in the first and last 2 weeks of the year; I have read in other places that algos do either really well or really poorly during this time. Therefore, I'm planning to use real money in a week or 2, and I will let you know the results."- email review received on 1/3/14
" Ive been happy with service , the outcomes for Rick system.Rick also is very service orientated and this is a must, this system is not complicated and its record to date collectively is very good.Others that Ive emai, prior to the course, have expressed the same. Hope this address your questions"- email review received on 1/3/14
"Rich is a straight up guy who has been very supportive post initial purchase and training to answer questions and talk regarding the system. I actually did the same thing as you prior to purchasing the system and got very similar feedback. This is not a get rich quick system but I do believe that if you are willing to deal with the ups and downs and become emotionally detached from the money aspect, it will yield the results that he advertises. The system has over 2400 trades in a 10 year span, which tells me that it is a very robust system. " - email review received on 1/3/14
"Hi Rich, My P&L went positive! Just to clarify, no trades were executed on Tue, Wed or Friday (with 30 minutes to the close). Please confirm. My "strategy positions" page confirmed that no trades should have been executed, I just wanted to get confirmation from you. Best," - email received on 1/31/14
"Nice to be flat with the nasdaq down. Like the system more and more." - Text received on 3/27/14
www.MyStockTradingBiz.com The Three Algorithm Systems
All three systems are coded in easy language, an alert is shown every time a new trade is generated, and you simply place the trade as instructed during the training.
- Places a single trade at 9:50 AM EST (20 minutes after the market opens) when certain conditions are met.
- Exits at the market close (4:00 PM EST) unless the stop is hit.
Overnight Gap System:
- Places a single trade at 3:59 PM EST (1 minute before the market closes) when certain conditions are met.
- Exits the following day when either the target or stop is hit.
- Places a trade at a specific time of the day if certain conditions are met.
- Exits when either the target or stop is hit.
www.MyStockTradingBiz.com Frequently Asked Questions
What broker do you use?
Our algorithms are coded using Tradestations Easy Language. Given this, you do need to setup an account with tradestation. We walk you through this process, it's super easy. Tradestation is the most popular broker among professionals. They offer deep discount commissions and allow our algorithm to be auto-traded.
How can I trust that performance will continue in the future?
While there are no guarentees, our algorithms have consistenly resulted in positive returns for our clients. The reason why, is that they have been tested over a 10 year period, have profit factors bigger than 1.3 and have over 2500 trades in their history. It is extremely difficult to achieve this in algorithmic trading. It is our opinion that these algorithms are as close as you can get to the Holy Grail of trading. They are not perfect, and we do have losses on occasion, however in the long run, they continue to perform.
Is there a problem with too many people trading your algorithms?
No. The reality is that we trade the Nasdaq Index. This index is HUGE. At any given moment there are 10's of Millions of dollars on the bid/ask. Our algorithm can support multiple people trading it. This is why we are offering it for sale. It's an easy way for us to supplement our income (through selling it), while we continue to trade the 3 algorithms.
For Autotrading, what exactly is required?
Very simple, you will need to open a futures enabled trading account with Tradestation (www.Tradestation.com) and have a stable internet connection. During the training, we will walk you through how to setup the autotrading feature and ensure you are ready to go that day. We don't just provide you with instructions, we actually setup your workspaces and enable the autotrading feature during the training.
I've never traded before, can I still use your algorithms?
Yes. These algorithms are completely mechanical. You do not need to use any judgment or make any decisions. You simply let the algorithms run. During the training we walk you through everything you need to know to use our algorithms. Keep in mind, even though the algorithms are automated, trading futures does carry significant risk.
How much time is needed for the training?
Depending on your experience level, the training can be done in 4 to 8 hours. All of this is done in a single training session. We are available for weekend training if that's your preference.
Whats the background of your system developer?
With a Bachelor of Science in Electrical Engineering, he has worked for many different fortune 500 companies as a programmer to include Hewlett-Packard, Intel and Qualcomm. During this time, he also traded part-time but has been trading full-time since 2013. His expertise in Algorithm Development and Advanced Mathematics has made him the perfect fit for Quant/Mechanical Trading.
www.MyStockTradingBiz.com Statements From Employees
MyStockTradingBiz installation and R&D team have expressed that they feel very confident doing their job.
"The system developer and owner has the perfect background for quant trading. He has a Bachelors degree in Electrical Engineering with a computer science emphasis. He's worked at numerous Fortune 500 companies in the last 10 years to include Intel, Hewlett-Packard and Qualcomm. Throughout this period, he was a programmer - focusing on digital logic design and algorithm development. He day traded on the side throughout this period and has over 15 years of experience trading the market. He's the kind of guy Hedge Funds are seeking out. I think it's pretty sweet that he decided to start his own company to offer his encrypted algorithms to the general public as opposed to working in a multi-million dollar hedge fund in NY.” ~ MyStockTradingBiz Sales Agent
MyStockTradingBiz Focuses On Customer Service
MyStockTradingBiz recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. However, given the anonymous nature of the complaint posted and the fact that MyStockTradingBiz has not seen any negative complaints or requests for refunds, it is our opinion that this post below is a fake, probably from a competitor. Having said that, MyStockTradingBiz has indicated that they are committed to always improving their customer support processes. MyStockTradingBiz has reported that they are in the process of developing a survey for current customers to provide feedback. Once received, MyStockTradingBiz will make adjustments as needed. Ripoff Report also emailed the author of the one Report filed against them, they never responded.
The owner of MyStockTradingBiz summed it up nicely, "While we have not received any negative reports as of the time of this writing, we do understand that no company is perfect, including ours. Given that, we will always be looking for ways to improve the experience our customers receive.”
In summary, after our review, which included discussions with Richard Metzger, Ripoff Report is convinced that MyStockTradingBiz is committed to quality delivery of services resulting in total client satisfaction.
Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.
Read about Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program, a program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.
As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer.
NOW TO THE ORIGINAL REPORT THAT WAS FILED, … it was found to be false by Ripoff Report
Rich Metzger Day Trading Business Scam Day Trading System Idaho
I purchased Richards day trading programs that he marketing on bizbuysell.com and this system is a total scam. He offered a demo where he showed you historical trades but they didnt reflect real life results. This guy goes around the US and sells these "systems" to unsuspecting people. He trained me for 2 days and left with my $15,000. I had huge losses and asked him for a refund since his program didnt work and he said it wasnt his fault and he cant predict the future. He does care about the individuals he sells his program to. Dont do business with Richard Metzger.
This report was posted on Ripoff Report on 03/14/2014 05:50 PM and is a permanent record located here: http://www.ripoffreport.com/r/Rich-Metzger/Idaho-Idaho/Rich-Metzger-Day-Trading-Business-Scam-Day-Trading-System-Idaho-1130780. 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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