Nexgen SoftwareThrowing away my money

Review updated:

This trading software is advertised as being able to indicate to you when to buy and when to sell stock. However, after we spent $14, 000 for it, my husband went through 8 months of classes, both online and in their 'conference', which was another $2000! And all he was able to do was lose money.

There are so many different indicators that you can hardly keep up with what they are doing. By the time you figure it all out and decide to jump in and buy it's usually too late and the market has gone the other direction.

We lost well over $50, 000 during this time period, almost lost everything. We should have cut our losses a long time sooner, but when my husband would call them and tell them he was having a hard time, they would just encourage him to take another one on one session or something. They put on a great show of offering all this 'support', but don't be fooled! We even had one of their own 'trainers' come to our house (we lived just down the street from their office) to show him how it works. He proceeded to lose $2000 of our money within about 20 minutes. Of course we never got that back either!

When I asked for even a partial refund, I was flatly refused. Only after we purchased this stock trading software did I find out that the owner, John Novak, had been in trouble with the SEC previously.

My goal is to prevent others from wasting such a huge sum of money on useless crap software.

Responses

  • Jo
    john novak Jul 19, 2008
    This comment was posted by
    a verified customer
    Verified customer

    You bought software that you never learned how to use... and becuase of your inability to follow SIMPLE directions and take the time to learn it you have LOST money ... lost the cost of your software and now are wasting your time trying to slander a GREAT COMPANY that provides GREAT SOFTWARE and service.

    Perhaps you should have spent as much time learning it as you do complaining about it and you might not have a complaint.

    Here are TWO emails that I got in the last couple days... and this is typical of the clients that use our software properly...
    Hi John:

    I have not touched base with you in a long time. I just had the new update installed and wanted to let you know that your support personnel are great-friendly and competent.

    Also wanted you to know that I am pleased with the materials you are supplying on the internet which are keeping us current.

    I hope you and your family are all well.

    Joe M...

    John
    It has been a while since I have communicated with you. I have had the software for about two and a half years. Numerous family issues and illness have prevented me from moving foward with my goal of being a fulltime trader. Recently, I got back in the room and things have been going great. Your stafff, Jeremy, Chris, Lendsay, etc have been a huge help to me.
    Casey has been my client advisor and the personal interest that he has taken in my success has been above and beyond any expectations. I felt it was important that you hear things like this about your staff, although I am sure you get plenty of positive feedback from others.
    Thanks again
    Art P


    SO in short ... please quit trying to scare the good people out there in the world by being so negative... I would hope everyone in the internet world who listens to your garbage understand that there are some crusty and just plain unhappy people in the world...such as yourself and I am sure that any of our clients and or potential clients will make descisions based upon the merits of what we teach them ona FREE demo ...not what some creep on the internet who is too lazy to learn says in a fit of rage and blackmail to try to get back the expense of the software.

    Have a great day... although I am sure that will be difficult for you with your personality...

    Sincerely and with all my best,

    John Novak

    -2 Votes
  • Mo
    movedon Sep 14, 2008

    Seriously John I think you are the one who sounds bitter here.

    I am just trying to get people to do some very serious research into the software before spending such an exhorbitant amount of time and money on it. As I have said before, my husband DID go through ALL of your training AND your conference, which was extra, before and during the time he was using the software.

    Your support staff is good at what they do, however, they can't make money trading it which was proven to me. And believe me, I don't make it a life mission to complain. Only when it is something worth letting the public know about so they can make a more rounded decision.

    I hate to say it, but the comment you wrote to me makes you look worse than it did me.
    Good luck. However, I will not stop my campaign to let the public hear a different side to your rosy stories. There are pros and cons to everything. That is what these internet forums are for.

    -1 Votes
  • Br
    Brandon Oct 29, 2008
    This comment was posted by
    a verified customer
    Verified customer

    The stock market is a scam, period. The only people losing money are those with retirements and pentions. The bankers are being bailed out and software like this proves value-less in a world controlled by corruption. John even has to admit he makes more money selling this ### than trading stock.

    0 Votes
  • Mo
    movedon Nov 01, 2008

    So True. And I found out recently through a friend who wanted to purchase the software but was trying to find someone who already had it so he didn't have to pay full price. He was trying to get the license transferred. Anyway, Nexgen now wants $9, 500 for a transfer fee!! He has the e-mail from them to prove this if anyone questions it. How ridiculous is that!

    So the person he tried to buy it from is truly screwed. Unless someone is willing to pirate the software which is about the only way to get rid of it. A lot of greedy people out there.

    0 Votes
  • To
    tony May 27, 2009
    This comment was posted by
    a verified customer
    Verified customer

    Nexgen sucks! Its a rip off! Your money and time is better spent on books written by gurus with outstanding track records such as Warren Buffet, Peter Lynch etc.

    0 Votes
  • Pa
    Paul Austin Oct 22, 2009

    Trading is not for everybody. It takes talent and you must have good pattern recognition. My 10 day free trial with NEXGEN expires tomorrow and I will be running to the bank for the money. I have done my homework. I got laid off so I have lots of time. For the past five months I have studied technical analysis every day for hours and hours. I am coming up to speed pretty fast. But the reason that I made 20 points (simulated) on the e-minies today is that I had the t-e Fib Pro Indicator that NEXGEN sells. I am amazed at what I see this software do. Because I have studied so much I recognized the potential right away. I don't think it will be easy for everyone, but it was easy for me to catch on becaue I watched all the videos (twice) and read all the material. It isn't a ticket to easy street but it is better than anything I found by clicking every button on the Internet that I came across, read many of the widely recommended books, and traded without success for many months. With this software I have no doubt, NO DOUBT, that I will be sucessful. I'm sorry that it didn't work out for these folks, but it wasn't because the software lacked anything. It is amazing.
    Paul, Fairbanks, AK.

    1 Votes
  • Br
    brbiz1 Oct 24, 2009

    Nexgen software is the best I've seen on the market. I use it, I have been to the training, I have sat in on the online classes and I have talked with John Novak personally. I know for a fact that no one is told to start trading real money unless they are successful on simulator. Obviously, people who are losing EVERYTHING, are not doing it according to the Nexgen teachings!!

    Just remember, college sucks and is a rip off if not used properly. Selling insurance sucks and is a rip off if you don't do it right. Your job may suck and be a rip off if you don't go to work and do the things it takes. Everything in life could be a "rip off" if you don't do it right!!

    Not being able to understand and see how the software works is one thing, but losing that much money by trading real money when you don't know what you are doing is quite another.

    Brad, Owatonna, MN

    0 Votes
  • Lo
    loser321 Dec 17, 2009

    selling software = worthless software
    discretionary rules = "it's your fault" ...B.S. sold by the vendor

    0 Votes
  • Th
    The Man-Trader Dec 19, 2009

    There is NO DOUNT that Nexgen is one of the single most largest ripoffs and scams on the Internet. Novak is a MAJOR douch bag. He is a total yuppie who has spun his web with a BOGUS software package that delivers NOTHING close to what it purports to do. You are a complete FOOL if you buy his overpriced, sham software. It provides absolutely NO INSIGHT into where the market is going. You might as well throw a dart at the wall. Novak has obviously been busted by the CTFC. If you were running an honest shop, you wouldn't have those problems.

    MAJOR SCAM -- don't waste your money on Nexgen. HUGE ripoff.

    0 Votes
  • Th
    The Man-Trader Dec 19, 2009

    This software is an absolute joke. No-jack (Novak) has hired staff who are total used car salesmen -- MOST OF THEM has only worked at Nexgen for a few months. Total boiler room -- lying to unsuspecting traders. Novak has gotten rich off the backs of others and lied to benefit himself only.

    John -- seriously. Be honest with others. The Nexgen software is a bunch of bogus indicators that have occassional winning trades -- but will turn your bank account into a bank loan in a matter of days. Save your money -- don't send it to Novak.

    Clean it up Johnny boy.

    0 Votes
  • Di
    Display Name12345 Jan 09, 2010

    Seriously people... Calm down. There are better and much more productive things to do than to sit here making such malicious comments. Honestly. If you buy the software, great. But learn how to use it. If you dont want it.. Cool, I dont think anyones forcing you with a whip to buy it.

    0 Votes
  • Jo
    John Pettitt Jan 30, 2010

    NexGen software is never purported to be a magic wand. Rather, it is in fact an extemely powerful tool that increases the odds of taking profitable trades when in the hands of an experienced trader. Gaining experience in trading goes well beyond merely reading software, and if you cannot devote the time, discipline and money to become a professional at trading, then you will surely lose. Don't blame Nexgen. That's like blaming an airplane that you crashed before you devoted the time and money to learn to fly.

    Regarding John Novak and his team, I cannot imagine any operation more committed to the training and success of its customers. The trainers are passionate about making sure you are understanding the software in a live setting. There is no question they won't answer. It truly is a lifelong relationship. With Nexgen, you never are alone while you are learning to trade, and you never have to risk a dime trading while learning to trade. I just don't know what else you could ask for.

    0 Votes
  • Pe
    pervinder Feb 25, 2010

    check out nexgen software inc website for details

    http://www.canadasoftware.net

    -1 Votes
  • Pe
    pervinder Feb 25, 2010

    nexgen software inc is the best in software development

    www.canadasoftware.net

    -1 Votes
  • Sy
    Symilarian May 10, 2010

    Trading stocks is all about resistance and support. You can certainly learn to do this on
    your own without software but it is a very tedious task. I have had the Nexgen software
    for around five years now and it is a tremendous tool for keeping track of potential turning points. Try doing the Fibernachi math in your head and you will be talking to yourself.
    This is a tool not a magic potion. The trick is to know how to use it with your own technique and trading style. Regarding Nexgen I have no complaints, John discovered something that my mother taught me many years ago. You see this formula it in all kinds of products from software to books and beyond. The way to make real money with low risk
    is..."Sell picks and shovels to the miners" Let them dig for the gold and stay home!
    Mom was pretty smart but I still like to do a little mining on my own. :)

    -1 Votes
  • Da
    day_trader_46 May 21, 2010

    This software is for SERIOUS traders. The software takes some time to learn to use, however, you will get great results if you know what you are doing. I have been utilizing it for two years, and I have had far greater outcomes than before I purchased the software. As far as purchasing the product itself and the price of the software, you have to qualify-Nexgen does not sell to just anyone.

    -1 Votes
  • Do
    DougJD May 27, 2010

    As a neighbor of the Novaks and a big trader in the market I must say that I like the software. I do not use it on a daily basis but I do help a friend of mine use it here in The Woodlands. I must say that the lady who wrote this article needs to be helped in some way, shape or form. You lost money in the stock market, big deal! I have had days that I have lost 200, 000 and have had days to where I have made 200, 000. It is more about LUCK than it is about the software or skill. I started out with 20, 000 and never ever used the softwares I have found until I started trading in the higher money level stocks. So, coming with this slander about Mr Novaks company is just wrong and quite honestly immature.

    If you lost 50k and say you lost about everything then you are quite possibly one of the dumbest people alive and should not be trading. Trading is for people who are financially stable and do not use the market as a "bet to come" circumstance. Grow up.

    Doug

    -1 Votes
  • St
    Steve Bachman Sep 10, 2010

    I have been successfully trading for the last 3 years without the Nexgen software; However, I was naive enough to have purchased it years ago, but during those years of using it I have found out a couple of things: 1 - No one needs Nexgen indicators to become successful, honestly those indcators are no better than the ones that come free with any charting package (forget about the idea that one should pay $10k to $15k for them - Buy a Ford instead). 2 - There are other better ways of learning (mainly through personal observation of the markets), but it's not easy. Nexgen provides comfort to prospective buyers by polishing and canning the product in such a way that it appears and looks functional, but its no better than any other indicators (if you even use indicators to begin with). DON'T BUY IT! That's all I can say. And if you are still thinking about the purchase at least demand that YOU WANT TO SEE ANY ONE OF THEIR EXPERTS (INCLUDING NOVAK) TO SUCCESSFULLY AND CONSISTENTLY TRADE WITH THE PRODUCT, EVEN IF THEY DO IT IN SIM MODE FOR 1 WEEK. I guarantee you they'll give you a song and dance why they won't.

    0 Votes
  • Su
    sun79 Dec 10, 2010
    This comment was posted by
    a verified customer
    Verified customer

    This software is a good plotting of Moving Averages, there is no trade setups and there is no magic for 16500.00. I would say SAVE YOUR MONEY. I am their current user and trying to learn from last 1.5 years. 1>> Their salesman are real salesman, they do not care a [censor] about individual emotion and respect. 2>>> They have no set of rules, I say them changing 3rd time now in last 1.5 years.3>>>Biggest ripoff ------ Same company(NEXGEN) created a new software "Revolution", used same Nexgen software tools and added entry signals and changed around some colors of the indicators. Now they want to sell that separate EVEN THOUGH THEY TOLD THAT ANY SOFTWARE UPGRADES WITH NEXGEN WILL BE FREE FOR LIFETIME. it is same freaking Nexgen software with entry signals. That tells me HOW GREEDY they ARE. They are a company of greedy, rough salesmen who are full of SCAMS. They say something and do something.
    5>> Software is again few moving averages put togeather, somebody need close idea --they are moving average 21 and 27.

    1 Votes
  • Mo
    movedon Jan 18, 2011

    So I see that their website is no longer active. Does that hopefully mean they are out of business? Or have they just changed the name to continue the scam and sucker in some new people? hmmmmm...

    0 Votes
  • An
    anon2244 Apr 01, 2011

    I have to point out that one of their employee's who does seminars and sells software doesn't even have a high school diploma. I know him personally. How can they let people like that work there? The guy is a good salesman that's why.

    0 Votes
  • Su
    sun79 Apr 04, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Again guys if you guys need NEXGEN JOIN "BIGMIKETRADING.COM" THEY HAVE FORUMM FOR NEXGEN SOFTWARE, , , 3 INDICATORS, , SETTING 80, 20 ON 1 ----20, 5 ON 2AND KETLERS OUTER AND MID BAND, BETTER FIBB AREA, , COME ON THERE IS NO MAGIC ... I LOST 16500 BUT I DO NOT WANT ANYBODY ELSE TO LOOSE, , NEXGEN HAVE TO GROW UP NOW...

    0 Votes
  • Do
    Doug33 Jul 26, 2013

    Nexgen is worthless. Save your money. Looks like Novak made suckers out of a lot of people. Should we not get together and do something to get our money back or shut him down?
    Doug

    0 Votes
  • Pa
    Patricia12 Sep 26, 2013

    Hello,
    Just of curiosity I requested a 10 day demo and it is indeed a rip off. I have the same system for free. If you wan´t to learn someting then look at this page tradeeurofx.com. He uses almost the same setup but entry criteria are different and there is a 3 time frame, 5 min just to see if everything is in line with this time frame. The cost for the system 500 - video course and 1500 for one to one lessons. and you get access to the trade room where he takes live trades.
    Nexgen has no fixed price for there system! They asked me 9500 for it.

    0 Votes
  • Fi
    FibDr. Nov 26, 2014

    1. The sophisticated level & accuracy of the trading signals
    2. The amount of educational content and educational live rooms online where users can post their chart
    and get instant feedback on their trading.
    3. The overwhelming desire for the staff at Nexgen to go above and beyond to make sure I understood the
    program.
    The software itself, a combination of moving average type lines and a unique oscillator to help time
    entries and exits based on Fibonacci combinations is one of the most well thought out programs I have
    seen in the marketplace today.
    Having done a free demo that lasted 10 days I actually knew 3 days in that I was going to purchase this program going into
    the demo having watched endless hours of videos on YouTube learning the program before demoing.

    While the online room education focus primarily on futures (do to the amount of setups/examples and opportunities) the software works well on FX and stock applications as well.

    I would highly recommend Nexgen's T3Fibs ProTrader to anyone looking for a complete package of software and
    education to trade the markets. They've been in business since 1999 and there is much more happy customers than the ones I see here (they wouldn't still be in business for that long, if every customer wrote bad reviews). Just saying...If you want to be good at ANYTHING, it takes PRACTICE. Sounds to me like everyone writing a negative review was being lazy. You cant sit here and write negative reviews until you've done your homework (studied, watched videos, marked up charts, tested out what you've learned on sim during your demo, practiced, etc. etc. etc.) If you cant see the potential behind the software after all of that... Your CRAZY, have fun loosing your money going with another program that doesn't come anywhere close to what Nexgen offers.

    0 Votes
  • Do
    Dougtrader Sep 14, 2019

    why would anyone sell this program for 16k unless they were only taking advantage of folks that don't know any better, even the people here standing up for the system have to know this. This method of trading can certainly be a successful edge in the market and folks make money following it know doubt, but its about the fact their selling it for 16k and marketing it to unsuspecting folks to profit and take advantage from their unknowing they can get this method of trading for free on you tube using free indicators, that is what this is about.

    This guy John lacks integrity for doing this, just by his response to this lady shows that, you should give a refund to those that fit this bill and didn't know its just moving avg and fib lines - John it won't cost you anything hell keep 10 percent for them wasting your time. It would be different if your were teaching folks to trade but you don't you only teach how to use your indicators, so I don't even think people can walk away knowing any tangible knowledge of the market.
    There is much better edges in other systems for free just on you tube lol. Hell people can hire a real trader for 16k to teach them how to trade better than this system using platform indicators or none lol. Folks you can invest that kind of money and get a lot better education and edge than this.
    Basically he is selling you something that is very basic in the market that you can learn from watching free stuff on the internet but selling it to you for 16k counting on the fact that you don't know that. Don't let your emotions do the thinking for you here.

    0 Votes

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