• Australian (ASX) Stock Market Forum

The Sharemarket College

Discussion in 'Trading/Investing Resources' started by muzzie, Nov 28, 2005.

  1. muzzie

    muzzie New Member

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    Does anyone know anything about the Sharemarke College? We have been approached to buy/join the college. You get software and 12 mths education plus lifetime membership etc. Can anyone advise.

    Thanks
    Muzzie
     
  2. Milk Man

    Milk Man Well-Known Member

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  3. GullyBull

    GullyBull New Member

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    Yes these guys are crap - from my experience they couldn't organise one beer from the brewery.

    Not sure if they are out and out crooks - but god alone knows where they got the EDU.com from - my guess is that they are stringing people along to squeeze as much cash as they can out of them.
     
  4. cutz

    cutz Well-Known Member

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    Sorry to hear about GullyBull,

    How much did you blow and what sort of stuff were they teaching.
     
  5. Ruby

    Ruby Well-Known Member

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    They charge around $12,000 for their basic course which is full of padding and very general, plus the charting software - Market Analyser - which you can get direct from MDS news. Then you pay an annual membership fee after the first year. Even though they are a registered training organisation, DO NOT TAKE ANY NOTICE OF THAT!!!! It does NOT attest to the quality of their education!! Furthermore, don't be fooled if they tell you all their trainers are successful traders. They aren't.

    Doing a course does not teach you how to trade!!

    Ruby
     
  6. cutz

    cutz Well-Known Member

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    I don't know how these clowns get away with it and it seems to be getting worse.

    Just before driving back from the bookshop an add comes on in the car advertising currency trading training with a sickly jingle playing in the background, what the hell do they think they're selling, toothpaste ?

    It make me sick because as more and more gullible people get burnt the legitimate industry cops a bad name.
     
  7. Ruby

    Ruby Well-Known Member

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    Cutz, they get away with it because people who have been ripped off don't complain to ASIC. If enough people complained ASIC would take their licence away.

    Ruby
     
  8. nunthewiser

    nunthewiser Well-Known Member

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    Do they have campus parties and hot chicks ?
     
  9. Ruby

    Ruby Well-Known Member

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    If you met the owners you would not ask that question!!
     
  10. Putty7

    Putty7 Well-Known Member

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    You looking for a nightshift job Nunn lol
     
  11. Wysiwyg

    Wysiwyg Everyone wants money

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    Acknowledging the capitalist system breeds the most cunning of profiteers.
     
  12. kam75

    kam75 Well-Known Member

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    That is correct. The thing is, there are many other 'Selling machines' like that out there, flogging off education.

    I feel sorry for those people that get conned into sighning up, paying thousands of dollars, believing these clowns will teach them how to make money in the markets. I've never seen any shortcuts to trading profitably.
     
  13. cutz

    cutz Well-Known Member

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    It worries me heaps,

    I was reading about a broking firm (link in the storm thread) putting the wrong types into derivative schemes. Many accounts have been blown up due to the incompetence of these so call professionals and now calls have been made for more regulation of the derivatives themselves.

    It's amazing asic haven't got the blow torch on the dodgy operators, it's the instruments themselves that arouse suspicion, just like when the market was copping a beating the short sellers where to blame not the distressed sellers than were advised to overgear themselves by clueless planners and scheme operators.

    So please beginners, if you need to pay many thousands to learn how to trade then many more on propriety black box systems you have failed the first test and you have no business around financial markets.
     
  14. Ruby

    Ruby Well-Known Member

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    It worries me too that these organisations are so greedy and bereft of scruples that they will sell their expensive systems to people who barely know how to turn a computer on. they also arrange loans for potential students to pay for their courses, telling them they will have no trouble recouping the money on the markets.

    Unfortunately ASIC doesn't go trawling for these dodgy operators. They can only act when they get complaints from the public - which is why dissatisfied clients need to complain. there are good operators in this industry, but the rubbish needs to be weeded out.
     
  15. explod

    explod explod

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    Maybe ASF ought to get an accreditation. Its the best trading site on the Australian net for trading and bringing some of us numbskulls into the real world,

    should be called "The Australian Colledge of Tradespersons".
     
  16. Ruby

    Ruby Well-Known Member

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    I think that just by exposing these people on the forum we have a very powerful voice. Look at how many views there have been of this thread alone! And yes, it is an excellent educational vehicle.
     
  17. nunthewiser

    nunthewiser Well-Known Member

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    Bummer ........ I thought it was going to be a "Porkys" type college with frat parties , kegs of beer and semi naked hot chicks .......

    Please change the thread title to not confuse us wishful thinkers

    Thankyou.
     
  18. Ruby

    Ruby Well-Known Member

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    Oh! Wot a shame! Sorry to disappoint! You could write to them and suggest..........??
     
  19. cornnfedd

    cornnfedd Well-Known Member

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    This is 100% correct, alot of people do not complain, if they are not succesfull they just think that they did something wrong - not that the 'black box' system was no good. People just wont swallow their pride and admit they did the wrong thing or make the wrong decision to join this kind of circus. Lots of people hang in for a few years and pay more fees in the hope that eventually they will make the big $$. Its all very sad really and I feel sorry for these people that loose their money.
     
  20. waza1960

    waza1960 Well-Known Member

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    While I agree with some of the sentiment expressed here and agree that 12k
    is excessive for a course of this nature.I still support genuine courses as a valid learning tool.
    Are you sure about that?thats fairly definititive for somebody with single figure posts.In my opinion it can help considerably.
    I'm doing a diploma share trading course atm (I won't mention names,its the only diploma course available in australia as far as I know just google it) price was just under $6k and its the best thing trading education wise that I have done.
    I think we generalise about courses here too much and turn off newbies on what can be a viable education resource.
    True most courses are poor value for money and a lot are ripoffs, but there are some which are very good .:2twocents
     
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