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Traders Circle - Options Trading Course

Discussion in 'Trading/Investing Resources' started by cashnet, Jul 29, 2008.

  1. Garpal Gumnut

    Garpal Gumnut

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    Re: Traders Circle

    I know nothing about options and little about traders circle, but the above four posts have a commonality.

    1. They were all, over the last three years, written by folk who have had between one and three posts in total on ASF.

    2. The English expression and syntax used is what a Prof of English Literature mate of mine calls jock strap jinglish, usually written by a Y11 dropout or a Financial adviser or Spruiker whose parents could afford $40-50000 for confinement at a boarding school through Y11 and 12. A read through real estate English in the newspaper ads of a Saturday will give you an idea of what I mean.

    3. All appear clueless, or perhaps have some secondary gain from their posts.

    4. All would benefit from clicking on wayneL 's posts on options in ASF, , downloading the lot , and spending some time with a translator reading and learning the pearls within.


    gg
     
  2. paulchow2k

    paulchow2k

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    Re: Traders Circle

    Not sure about Options but at this years melbourne traders and investors expo, the flavor of the year seems to be FX. There is even a guy who wrote a book on $1000 to $1 Mil in 80 days. Happy to give him $1 and get him to turn it into $1000 though...

    I can't wait to see what they have for next year. CFDs/Commodities/ES? Just goes around doesn't it?

    Paul
     
  3. Paulo30

    Paulo30

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    Re: Traders Circle

    I know this was posted a while back.. but thought it my duty to inform you that the group Traders Circle is a waste of money. It was in my case anyhow. Fortunately it did force me to learn for myself, which has paid off several years later.

    The group preys mainly on newbies with no experience in shares, options or trading.

    They then charge around 1k initially (basic trading with some Tony Robbins type motivation thrown in), and further courses (around 3k) for "advanced methods".. at the end of the course the newbie is virtually forced to use Traders Circle's own broker (due to the complicated margin + options requirements), and also subscribe to Carlo's lousy signals service (for a modest $200? per month).. all of which a kindergarten student could probably predict better.

    Traders Circle do great marketing and sales.. they just have no more of an idea about trading and mentoring than anyone else at your local pub. ( Esp. without a 10k price tag to support 30 staff and Carlo there).

    The mentoring consists of technical analysis (basics from any Trading 101 book), some very rudimentary fundamentals (comparing PE of companies), and then picking an options strategy to go with it (again found in any Options 101 book).
    You then join their paid monthly subscription to use their online tools (PE data, charts) and get the amazing trade alerts.

    There is nothing Traders Circle offer that can't be found for under $100 in a bookstore, and by setting up your own broker.. or starting a demo account first, and sourcing your own charting and data tools. You might even be 30K better off if you give them a miss.

    My advice instead, from someone who has paid a lot previously in courses, and now trades easily & successfully part-time from their own efforts, would be to take a year or two to study, learn the ropes with a demo account, and come up with your own system that suits YOU. There is no group or other person that can impart experience onto you.


     
  4. danbradster

    danbradster

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    "They clarified that profits are before costs described in the company's financial services guide [...] and before losses from unsuccessful trades."

    Profit is before losses from unsuccessful trades? Wow...sounds like revenue to me, not profit.
     
  5. 1337trader

    1337trader

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    Stay away from this company (and most others). I know someone that went through the course, paid for their "recommandations by market expert" of credit spread that keeps getting rolled every month so it looks nice on paper (until you take into account all the previous losses) which racks up massive brokerage (I was told it was $100+ PER LEG - I think commsec only charges $29).

    I beleive their office is on the Ernst and Young building, same as Hometrader. Posing as 'proffessionals' to suck money off suckers.
     
  6. operandi

    operandi

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    If you building a house would u get a marketeer to be ur bricklayer? Then why would get a marketeer to be ur trader? ahh thats right, 3 years i was shoveling sh*t and then i attended a shiny course on how to buy and sell those market things and now i make consistent and my wife has sex with me and my dog loves me.ahhhh markets you will never fail me, thank you oh scribe of the markets for ur shiny circly folder
     
  7. Gnarli

    Gnarli

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    What can I say. I went through the courses eyes wide open. I needed real world know how and application to explain and demystify trading, although I did know full well I needed to pay for the experience. Am I better off for it compared to the "self made traders"? To be honest I don't know, however do I care - no...
     
  8. >Apocalypto<

    >Apocalypto< 20.03.2012

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    Re: Traders Circle

    I hate to see this, after 5 years trading in FX all I can say is it freakin hard! not the place for any new starter to dump 20k+ and see what trading is all about.... fast way to get taken to the cleaners... these idiots out there with wonder books are all BullS%$t artists.
     
  9. >Apocalypto<

    >Apocalypto< 20.03.2012

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    and the meaning of this post is?
     
  10. susie19

    susie19

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    well, 2.5 years later and nothing really changes. Traders Circle still in existence (I sat in on their free "webinar" but gave a resounding "No" to anything beyond that...funny how the voice of the follow-up TC rep for "totally honest appraisal from me" got more strident and high-pitched, the longer I "no'ed"..but anyway. They have to live too, i guess). But in answer to the question posed re GNARLI's post - it means nothing - except maybe that he/she possibly has more money than sense..?
     
  11. tomryan161090

    tomryan161090

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    Traders Circle Scam?

    Hi All,
    I don't remember how they got my details but I keep getting calls from a Melbourne based company Traders Circle, I am interested in learning about the markets and markets analysis, so I may have signed up for some free eBook or something but now I'm getting lots of hard sell style phone calls offering me all sort of education packages and seminars from them for large $$$.

    Does anyone have any experience with them? to me using these cold call tactics and and the whole seminar kind of thing seems to scream scam, but if other people have done business with them in the past and liked it. I would be willing to do the same.

    Again I'm new to this world of trading so I have no idea if this is a normal kind of marketing technique for these kind of companies or not!
     
  12. skyQuake

    skyQuake

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    Re: Traders Circle Scam?

    Gee these professional traders are nice. Instead of making $$$ or sipping cocktails on tropical beaches they employ cold callers do desperately find random folks to impart their money making wisdom.

    I hope one day I too will subscribe to such lofty ideals
     
  13. tomryan161090

    tomryan161090

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    Re: Traders Circle Scam?

    Sorry i'm not sure if you are being sarcastic or not? Are you saying you have dealt with them before?
     
  14. sinner

    sinner

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    Re: Traders Circle Scam?

    He's being sarcastic,

    Scroll up, look at previous posts in the thread.
     
  15. tomryan161090

    tomryan161090

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    Re: Traders Circle Scam?

    Thanks for the verification, I have just gone through the thread and noticed the negative feedback. Shame, I am very keen to start learning how to read market movements. Not sure what methods of trading I want to use yet, Im thinking binary options, short term contracts maybe an hour at a time. All I know is I want to learn how to read a market trend first then play with a little bit of money and put my learning into practice. Suddenly I get a call from them and it looked like a good opportunity to learn. But I will be avoiding them like the plague now!
     
  16. sinner

    sinner

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    Re: Traders Circle Scam?

    This forum is a great platform to discover resources and so on. There's a subforum dedicated to trading strategies :) My advice would be to read a lot and worry about the actual execution much much later.
     
  17. TomBlazTrader

    TomBlazTrader

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    Re: Traders Circle Scam?

    I have been a Traders Circle member for almost a year now and really appreciate the service they offer. I am a bit puzzled after reading this thread because what is written here does not come close to what my experiences with Traders Circle have been.

    Like you I am also a beginner to trading but have been investing for a few years and was interested in learning technical principles and analysis. I am the type of person who gets more from a classroom based environment so just reading trading based materiel via books or the internet was not best for me so I did the course.

    I have used what they have taught to shape my own personal trading method so I don't rely on the recommendations they put out. I agree these can become costly and are better for those with large trading banks. However, the more basic trading strategies they teach in the first two weekends work for me as stated most of the time and I would agree and testify to a plus 50% success rate and I can see how 70% success could be achieved with experience. They have continued support, are continually adding new tools to help make trading simpler and are very service focused which makes them great to deal with and be part of.

    Some of the other people I met through the course I know who have had a few losses and have stopped trading. This I think as a beginner and as an inexperienced trader is part of the learning process it just depends if you are able to handle those initial losses. Sorry if I sound like I'm making excuses here but I think you just can not learn as much as you could loosing with real money compared to paper trading for example.

    The only other advice I would give is that again if you are a novice, the first two weekends is all you initially need. They do offer an advanced course which I did and the strategies are interesting but I found that there is more than enough covered in the first two weekends to keep you busy and you would want to have a pretty good understanding of those methods before you introduce more detailed and complex strategies, so for me the advance weekend was a bit of a waist but I will probably do it again in the near future.

    I think they have a great team and the ongoing support which includes no less than three weekly online trade groups is excellent to get an experienced perspective of what is going on in the market as well as advice on existing and potential trades. They are also not shy to tell you if you are making errors and to give you a bit of a pasting if you don't follow the trading rules. This I find very refreshing.

    Personally, I highly recommenced these guys especially if you feel a course to teach you technical and option trading principles is what you need. I would be flabbergasted if Traders Circle turned out to just be a scam and that all who did the course are just doomed to lose all their hard earned.
     
  18. cynic

    cynic

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    Re: Traders Circle Scam?

    You seem to be oblivious to the fact that >90% strike rates are easily achievable, with or without the assistance of educators.

    With the exception of the two extremes, 0% and 100%, strike rate, when viewed in isolation to the more pertinent factors, says precious little about a trader's profit generation capability.

    Are you looking to become financially profitable from your trading?

    If so, then I fear that either the trading education, undertaken by yourself, has failed you, or you have failed the education.
     
  19. minwa

    minwa

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    Re: Traders Circle Scam?

    I am very worried that they are hitting 50%-60%, 70% on rare occasions success rate. I know for a fact most of their trades are 1:5 trades. 20c credit/debit on 1 dollar wide strike spreads. Let's use "middle ground" 60%

    2yzezdh.png

    This can be achieved with their method..trendline + stochastic + RSI :D ! And yes 20% position size is what they teach lol..after all the trade can be "repaired" (extra brokerage for them of course..oh wait did you know if you do their course they pressure you to use their overpriced full service brokerage because they trick newbies into thinking their strategies can only be executed by their own broker? :banghead: , and of course pay 300+ per month for their recommandation to you to rack up brokerage for them) My god I drank from this tainted well thinking it was holy grail in the past.
     
  20. hamli

    hamli

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    I can see how this goes...

    They will spend the first couple of hours telling you how special you are, stroke your ego and tell you to ignore all the skeptics out there.

    Following this, they will explain to you what support and resistance is. Then they will provide you with some dictionary meaning of a covered call and naked put.

    They will stroke your ego a bit more, try upsell some more products such as managed funds, real estate etc eating up the hours you've paid to learn.

    By the time you have finished the course, you will eagerly await the trades they put on, and not be able to trade on your own.

    You would not have learnt how to manage volatility risk, delta risk and gamma risk. You would not have learnt how to optimise your trades ....

    And guess what? You are now down a few hundred- few thousand dollars. Motto: There is no miracle classes that will get you to where you think you want to go. Free resources online, and if you can't figure it out, I can guarantee you that a class wont change that.

    I'm sick of these gammon financial education classes. In fact I came across the thread "The Covered Call Panacea Redux" and tried to add to it, but my post was taken to be a real add and taken down.

    Rage rage rage... that's what spam mail does to me.
     
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