Companies which train in trading - advice on which one...

[JEN]

Hi all

I have had a browse through older posts and some of these companies have been mentioned and most people are critical of them - and forgive me I haven't read all 51+ pages of thread so I may have missed some!

My situation is I want to earn an income from trading of at least $40k pa.

I have looked at a range of companies/businesses that sell training/packages/software etc and hand-feed people to a greater or lesser degree. I have also looked at training courses and software etc as a self-education strategy which is obviously much cheaper.

I have come to the conclusion after reflecting on my own psychology and behaviour in the past that I have insufficient interest to be able to motivate myself to do the self-learning and if I am going to do it at all I need to pay someone to do a lot of the work for me and hand-feed me. I know that sounsd lazy and its not that I'm not smart enough to learn, its just like I said I have to be realistic about my own psychology and limitations.

so I've looked into a number of businesses - they all vary re value for money and the extremes of claims they make. I wonder if I can have some feedback on people's experiences of them and any other places I can look to find info like whether any formal complaints have been made about them, proportion of people who drop out etc?

Some of the main ones I've looked at are:

<<removed by admin>>
Traders4Traders
Traders International
LTG ********
Live Trader Global
GFT

I don't really care what market I trade on as long as the time I need to spend each day is minimal.

Many thanks

 

[cutz]

I have come to the conclusion after reflecting on my own psychology and behaviour in the past that I have insufficient interest to be able to motivate myself to do the self-learning and if I am going to do it at all I need to pay someone to do a lot of the work for me and hand-feed me.

Unfortunately,

If you don't have the love, and markets aren't on your mind 24/7, and you aren't prepared to DYOR you won't succeed as a trader.

 

[J&M]

There is no easy way to make money here You need read some of the old post from way back to get a feel for share trading
I have only just started buying shares and have spent hours reading the posts on different companies on this web site. The first ones I brought was in early Feb and have a 12% profit to date on a 30K fund . To date I have not sold any yet.
You really do need to read posts here and spend hours doing so

good luck anyway

James

 

[Trembling Hand]

I have come to the conclusion after reflecting on my own psychology and behaviour in the past that I have insufficient interest to be able to motivate myself to do the self-learning and if I am going to do it at all I need to pay someone to do a lot of the work for me and hand-feed me. I know that sounsd lazy and its not that I'm not smart enough to learn, its just like I said I have to be realistic about my own psychology and limitations.


I don't really care what market I trade on as long as the time I need to spend each day is minimal.

I vote this the greatest ever post on ASF.

Thats why this game is so great. A continuous stream of lazy money. Luv it!!

 

[Wysiwyg]

Check previous poster comments from anyone who posts about training courses, workshops etc. From my time on this forum, there are spruikers posing as satisfied customers and there are grudge holders who have nothing fair to comment about any of them.

Aren't managed funds what you need?

 

[nomore4s]

I vote this the greatest ever post on ASF.

Thats why this game is so great. A continuous stream of lazy money. Luv it!!

It also explains why there are so many scammers around that charge outrageous fees for courses and to "teach"

You want $40k a year for doing.............nothing.

 

[brty]

I want to earn an income from trading of at least $40k pa.

I have insufficient interest to be able to motivate myself to do the self-learning

I need to pay someone to do a lot of the work for me and hand-feed me.

Here are some concepts to think about..

Assuming you start with a bank of $100k, you need to make 40% pa for your lifestyle. Considering even Buffett has only averaged mid 20% pa over the long term, your advisor needs to be good...

Ok let's assume that there are people out there that have a system that makes 40% pa, consistently. Why would they sell you that system and not just make a killing themselves?? Surely if they did have something that good, they would just beg, borrow and steal enough starting capital to make their fortune. Why would they let someone else share their gains??

I will also go out on a limb and state that any "advisor" that is prepared to take you on as a client with your 'lazy' attitude, is really someone you should run from.

brty

 

[GotItForCheap]

If you don't trade with a love of the markets and the trill of hitting a winning move right on the head, then I suggest you invest in a managed fund where you can pay the fund manager some fee's to do that hard work for you.

 

[Ruby]

JEN - you're having a go at us, aren't you? I am sure your tongue is planted firmly in your cheek!!

 

[macca]

Hi,

You don't mention how much capital you intend to invest, if you have a million then no problem you should be able to get your $40k a year.

 

[JEN]

If you don't trade with a love of the markets and the trill of hitting a winning move right on the head, then I suggest you invest in a managed fund where you can pay the fund manager some fee's to do that hard work for you.

Hi all - thanks for your frank responses. I have a managed fund already and thanks to the GFC have less money in it now than five years ago! Not prepared to throw good money after bad so thus looking at other options.

 

[Ruby]

Seriously, Jen, there is no shortcut. Or if there is, I'm annoyed no-one has let me into the secret!

If you don't want to manage your own money, you can go to one of the firms that send you SMS hot tips - when to get in, when to get out and all that sort of stuff. (This is NOT advice - just an avenue for you to explore.) They claim to give you good returns for only a few minutes' work a day, but you still need to do your due diligence because some of the results published by these companies are suspect! I would love to speak to someone who has made a motsa that way.

There are lots of them, and you can find their names by trolling through threads on this forum or doing the same on Google - still time consuming. So.... whichever way you go it's going to take some time.

Good luck.

Ruby

 

[cutz]

If you don't want to manage your own money, you can go to one of the firms that send you SMS hot tips - when to get in, when to get out and all that sort of stuff.

Wanna know a hot tip ?


There's no such thing.


Think about it, if you had a hot tip would you SMS it to the world ??

 

[Gunlom]

There is only one hot tip that I guarantee will pay off

Don't listen to any!!

end of the day, If you don't know why you are investing/trading, what are your entry and exit points are, what is the reason to put money in, and be able to explain your thought process. You are taking huge risks.

But then again some of the best lessons I've learnt in the market I have had to lose money to learn it. But I never repeat them!

 

[Ruby]

Yes, quite! I am not advocating this as a course of action.

 

[JEN]

Wanna know a hot tip ?


There's no such thing.


Think about it, if you had a hot tip would you SMS it to the world ??

Hi Cutz
I think I know the company that is being referred to in these comments. They send out an SMS to their subscribers AFTER they have placed their own trade, thus they don't lose out plus they get thousands of $ from the people who sign up to their company and alerts that they can then trade with - so theoretically both company and punter make money.

This particular company I feel a little more comfortable with as they are less marketing oriented and more realistic in saying things like "this is not a get rich quick scheme" and "there will be losses as well as gains" etc. But another post was right in saying their results are not always good. There are plenty of questions to ask and comparisons to make - which is what I'm doing right now!

Thanks again for the feedback and keep it coming - but only constructive stuff please.

 

[nomore4s]

Hi all - thanks for your frank responses. I have a managed fund already and thanks to the GFC have less money in it now than five years ago! Not prepared to throw good money after bad so thus looking at other options.

Jen, the problem is, if you want minimal hands on contact these are the risks you have to take because no system you buy or managed fund you put your money in is going to make money all the time.

They will only make money in certain market conditions and those conditions are probably less then 10% of the time. The rest of the time your account will be going sideways at best and down at worst during periods like the GFC.

 

[Wysiwyg]

You indicate a knowledge of training companies (first and previous post) so I'm wondering which one has appealed to you. Let's cut to the chase; what is the most appealing company to promote here.

 

[JEN]

You indicate a knowledge of training companies (first and previous post) so I'm wondering which one has appealed to you. Let's cut to the chase; what is the most appealing company to promote here.

Wysiwyg - I'm not interested in promoting anyone - I actually listed half a dozen companies in my first post. Some names were edited or removed by the administrator but I'm neither promoting nor hiding anything - just seeking advice from those more experienced at trading than I am.

 

[Trembling Hand]

I have a managed fund already and thanks to the GFC have less money in it now than five years ago!

- just seeking advice from those more experienced at trading than I am.

There is nothing wrong with the managed fund, what's wrong was that you held it through a bear market.

No different to any trading instrument. You position yourself the wrong way at the wrong time and you will be cut up.

There is no way you are going to beat more experienced players while trying to do it with no work. Whether thats in a fund or trading short term.

You're looking for a fairytale.