Australian (ASX) Stock Market Forum

The Sharemarket College (1 Viewer)

Joined
Nov 28, 2005
Posts
1
Reactions
0
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
 
Joined
Mar 25, 2009
Posts
1
Reactions
0
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.
 
Joined
Aug 10, 2008
Posts
2,127
Reactions
300
Sorry to hear about GullyBull,

How much did you blow and what sort of stuff were they teaching.
 
Joined
Feb 27, 2009
Posts
615
Reactions
1
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
 
Joined
Aug 10, 2008
Posts
2,127
Reactions
300
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.
 
Joined
Feb 27, 2009
Posts
615
Reactions
1
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
 

Wysiwyg

Everyone wants money
Joined
Aug 8, 2006
Posts
8,424
Reactions
265
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.
Acknowledging the capitalist system breeds the most cunning of profiteers.
 
Joined
Jul 13, 2008
Posts
322
Reactions
2
Doing a course does not teach you how to trade!!

Ruby

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.
 
Joined
Aug 10, 2008
Posts
2,127
Reactions
300
Acknowledging the capitalist system breeds the most cunning of profiteers.

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.
 
Joined
Feb 27, 2009
Posts
615
Reactions
1
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.
 

explod

explod
Joined
Mar 4, 2007
Posts
7,180
Reactions
808
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".
 
Joined
Feb 27, 2009
Posts
615
Reactions
1
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.
 
Joined
Feb 27, 2008
Posts
4,670
Reactions
9
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.
 
Joined
Feb 27, 2009
Posts
615
Reactions
1
Oh! Wot a shame! Sorry to disappoint! You could write to them and suggest..........??
 
Joined
Jun 11, 2007
Posts
79
Reactions
0
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

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.
 
Joined
Mar 10, 2007
Posts
540
Reactions
7
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.
Doing a course does not teach you how to trade!!
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
 

Users who are viewing this thread

Top