Ask Colin

Have you heard of a share trading software package known as Blue Chip Trader marketed by Micro Corporation in QLD?

Yes, I have heard of it. When I was President of the ATAA, I had the unpleasant duty of asking the owner to remove what we thought to be untrue statements about the ATAA in his promotional material. They were withdrawn.

I have not tested it and do not know whether it delivers what it claims. However, I am sceptical of all such software.

I do not know anyone who is happy using it, but then people are more likely to complain, rather than go around giving praise.

You should read my article on the Articles page of my web site on computerised trading systems, so you understand what they are and how to test them. You should also read the ASIC warnings on this sort of software, which is also on my web site. Finally, there are three columns by Pierpont (Trevor Sykes), which were published in the Australian Financial Review on 28.04.00, 08.12.00 and 13.02.04. They may be accessed in the archives on www.pierpont.com.au

The company that sells this software keeps changing its name and the name of its software. The company is now (2004) called MCI Technologies and the software is called Star Trader.

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