Complaint Review: Profitunity - Internet
Profitunity Profitunity Group Profitunity.com, Profitunity Group is a complete SCAM Internet
*REBUTTAL Owner of company: The author if this complaint is a con artist who was charged & convicted by the SEC in 2002
I am a rather experienced trader but from time to time I like to try to improve my skills. While doing an Internet search I stumbled upon Profitunity.com - so I figured what the heck why not. Their website looks good, they seem to be able to back up their claims with lots of testimonials.
Well after purchasing their course I must say they are a COMPLETE SCAM... there is NOTHING useful in the entire course.
Their whole thesis is that their "alligator" (which is NOTHING more than a few combined moving averages) "leads the market" and provides traders with an unbelievable edge. They even went so far in one of the DVDs to claim their system was "back tested on super computers and proven to be 99.6% accurate"... to which I immediatly went "oh lord this is a fraud".. For all of you out there trying to invest.. NOTHING is ever 99.6% accurate.. most winning traders are only 85% accurate at best... 99.6% is completely IMPOSSIBLE over a long period of time. They claimed they used "years of data"... which again I claim no way.
I personally back tested their theory. Which uses fractal geometry. Fractals are nothing new to trading and that is why I thought this course may be onto something. However, their use of fractals is laughable and their combination of the alligator and fractals is a complete joke. I back tested using their "ideal" setups and to say it was no where near 99.6% accurate is an understatement.
I would have been happy with 90% or even 85%... but it was less than 44% accurate. And their money management had smaller winners and bigger losers.
The bottom line is that fractals may have value if used properly. Moving averages DO have value if used properly. Money Management is EXTREMELY useful if done properly... the problem is that this Profitunity course does NONE of them properly...
Save your money go elsewhere.
This report was posted on Ripoff Report on 10/14/2009 12:02 AM and is a permanent record located here: https://www.ripoffreport.com/reports/profitunity/internet/profitunity-profitunity-group-profitunitycom-profitunity-group-is-a-complete-scam-intern-508898. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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