Cool Trader "robot trading" MLM collapses

In yet another example that the marketing of "robotic trading software" has attracted more than its' fair share of scams, schemes and fraudsters, multi level marketing company Cool-Trade Inc this month filed for Chapter 11 bankruptcy protect with an estimated $500,000 to $1billion in liabilities

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How does an MLM company which charges $4995 for a three year software licence and claims its' system is "An Arsenal of Powerful Stock Trading Tools in One Complete Intelligent Robotic Trading System" run up such debts, you may well ask.

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Could it be, perhaps, no such system or software exists, as people in the know have been warning for years, and Cool Trader is just the latest in a long line of such fraudulent schemes ??

Who knows ???

All we can certain of is that they have filed.

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inforuptcy.com

There was a group of traders that met in my area once a month to talk to a guy that was promoting Cooltrade, but his trading result with it was less than the stellar hype by the company.Another "holy grail" bites the dust!

Imagine if their was such a thing as "robot trading software" which could produce the sort of returns being promised by internet pimps like those behind Cool Trader

You could scrape together a couple of grand, set the software running and you'd own the world in two shakes of a lambs tail.

One wonders why the Bill Gates and Richard Bransons of the world don't pay the four grand and throw in a couple of million.

For that matter, how the h*** does a company go belly up with software like that at their disposal ???

Quote:

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Originally Posted by littleroundman

Imagine if their was such a thing as "robot trading software" which could produce the sort of returns being promised by internet pimps like those behind Cool Trader

You could scrape together a couple of grand, set the software running and you'd own the world in two shakes of a lambs tail.

One wonders why the Bill Gates and Richard Bransons of the world don't pay the four grand and throw in a couple of million.

For that matter, how the h*** does a company go belly up with software like that at their disposal ???

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Exxxxaaaacctlyyy!!!