Michael Hein

juanbyte

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Hi

I received a mailshot for a book and video from Michael Hein of www.financial-trading.co.uk

I seem to remember them about a year ago offering a monthly subsciption service, but could not provide me with any trading details.

I would like post from people who have had actual knowledge of the book or subsciption service, please do not post saying the usual "its a scam" without specific knowledge.

On first look and history it looks a waste of money.

I there is nobody who has bought the book I will and do a real review, it my save others a few pennies
 
I would avoid this bloke - in his latest flyer I received yesterday and he reckons he developed a special trading 'formula' while working in investment banking in Luxembourg a couple of years back.

I just found some stuff he sent me over a year ago about called 'insider secrets to on-line profits' it's nothing to do with trading - it's about setting up so called money-making websites.

He also states that in 1999 he was skint working for his father's scaffolding company.

I did e-mail today and asked him nicely to send me a record of his trades over the last 3 months. I have received no reply as yet.

I wouldn't risk £50 odd quid with this bloke.

- - - - - - - - - - - - - - - - - - - - - -
Trade what you see - not what you think !
 
I emailed today and asked for 6 months results.

Yes about a year ago he was offering a monthly subscription service, why sell a book for £50 if this was working.

Still it would be interesting to see how bad it was.
 
I have a copy of his book - "Making Money from Financial Speculation"

I have two comments:

1) For a complete beginner (myself!) this book is a useful introduction to the various trading vehicles and instruments - (but nothing that can't be found on this site) along with some of the usual advice.

2) I'm not really in any position to pass judgement on his trading system other than to say that I think that any experienced trader can probably save themselves £50 and not buy this book.
 
i subscribed for a couple of months to his web site but did not make any money he works in cahoots with vince stanzione.
 
M,mm might have guessed this guy's not as clean as he'd have you believe. I too recieved a mail shot today. OK £50 quid isnt a lot of money but if hes in cahoots with stanzione I'd give it a wide berth too. as for the "formula". There are only 2 real formulas, fundamentals and technicals and there is no magic to understanding them.
 
there's no magic to understanding fundamentals and technicals - but a lot of magic to using them to trade succesfully

thats how these trainer guys pull their smoke and mirrors trickery to get you to part with you money - all they do is supply you with a bit of stuff which is equivelant to a bit of paper and a pen - thats all - and then tell you that you can trade successfully - equivelant to writing a number one novel or film script on that bit of paper with the pen - but funny enough, there is a bit more expertise to both occupations - but trainers dont have a clue about that -their expertise is in sucking in the aspriational and then taking your money with a smile

i have heard that some scowl once they have it -but most keep up the smile cause they know that once they have had you once - you will always be good for a few quid in the future
 
hi all i got a copy of his book for 5.95 it is just for the complet beginer you can get mone info from t2w.

save your money? :D



jimbo888
 
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Dear juanbyte

I "bought" the book (on trial for three weeks i.e. no payment yet but if I keep for 3 weeks they wits deduct from my credit card)

Package arrived yesterday and consists of a 93 page (not including index etc.) A4 Manual and 1 hr DVD and a CD.

At the time of writing I have not checked the CD and have have only skimmed a few pages of the Manual and watched a few minutes of the DVD.

As a complete beginner ( I have never traded, but have been to numerous free seminars and have spent hours going thru the T2W site ) I think the package is O. K. as a basic introduction. And you do have the options of studying the material for three weeks and then returning it without the bother of trying to claims a refund as no money has been taken from your credit card.

of course the sales letter does get a bit carried away.

It would be good if you got hold of the product and did a review as you are probably more experienced than many in trading.

By the way, what is so bad about VS? Is it that his formula does not work? Or is it that his Home Study Course material is too expensive ( at about £400 )
 
Financialistix said:
Dear juanbyte

I "bought" the book (on trial for three weeks i.e. no payment yet but if I keep for 3 weeks they wits deduct from my credit card)

Package arrived yesterday and consists of a 93 page (not including index etc.) A4 Manual and 1 hr DVD and a CD.

At the time of writing I have not checked the CD and have have only skimmed a few pages of the Manual and watched a few minutes of the DVD.

Hi Financialistix,

I got the mail shot too.
Out of curiosity what is this to do with.
Spread betting?
Options?
Futures?

Badd Boi
 
I have now had tho opportunity to have a slightly longer look at this product.

He deals with speculation generally i.e. short term Trading. But be expresses a preference for spread betting and CFDs.

the book in my opinion should be about 50% longer and should have colour diagrams.

80% of the DVD adds very little to what's already in the book.

The CD contains about 6 useful (but very short ) information booklets. From glimpsing at them I reckon they are all available Free on the internet. However, as a newbie one wouldn't know where to look for them or what one needed to read.

The CD also contains links to various brokers- and explains the different types of trading that can be done with each.

ShareScope Demo software and User Manual is supplied on the CD too.

So is it worth £50?

Too the complete beginner, as an introduction to the markets, I think it may just pass. If the cost was around £35 then without doubt it would be great value for money.

Are there any magic strategies? Not that I noticed. It seemed like pretty basic stuff to me with some sensible advice and warnings.

Is it a scam? Well, compared to what's actually in the material, I think the mailshot is way over the top in its excited tone.

However, I would like to see what more experienced people make of the package (after all they can view it for three weeks free of charge). I for one would prefer for it to be cheaper, I think the mailshot should be toned down a bit, I am dissapointed with the DVD content and I wouldn't be fuming mad if I parted company with £50 for the package
 
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Hi,
Thanks for the further information you posted.
Just what I was looking for.
At least you have a few few weeks to bung it back for a full refund if you find it dosen't suit.
Badd Boi
 
Morning……

Yesterday I also received a mail-shot through the post from the smooth talking Mr Hein.

I would agree with most of what has already been written. I would like to add that the mail-shot is very OTT. It clearly implies that the author has some kind of magic formula or system which guarantees to make the buyer money. This is not so – no such formula exists and the only people looking for such a formula are doomed to fail from the start.
The sales patter is impressive indeed but one would have to question the content. A junior dealer issuing a customer with indirect investment advice – there maybe some compliance issues there ! Also, he writes a document which his employers pay him to create (which hugely boosts profits) and his employers allow him to take the document away with him and let him retain world wide rights……It simply doesn't work like that normally, if you are paid to do something then your employer retains the rights to what you have created. It’s no different from someone who leaves after building up a companies client base – they don’t have the right to take the client base with them.

The comments made in the mail-shot are misleading and dangerous. A quick glance at Advertising Standards shows that a similar mail-shot has already been heavily criticised. This present mail-shot may have connections to the one mentioned. The style is consistent with other letters written by the likes of VS. and his pals.

The fact is, at first glance, the markets look very easy to trade. This means that if you introduce someone to the idea of trading then, to a large extent, the idea will sell itself. The idea of trading the financial markets for huge financial gains is an idea which is very easy to promote. With greed being what it is there is a wealth of prospective customers. The question is…..Are these sales letters misleading people over what is achievable ?
More often than not the answer is ‘YES’. In my opinion, this is just another internet marketing business. It is interesting that the guy in question has previously been linked to other internet marketing business. Suddenly the same guy is an outstanding institutional trader who, having revolutionized the way his employer and his customers do business, leaves and tries his hand at all manner of internet business before proclaiming himself a ‘guru’ who has a system which is certain to make money. Interesting.

What is also interesting is that the guy is claiming he worked for a Luxembourg investment firm. People who have bought his product have already indicated that the stuff is very basic even if you are a beginner. This begs the question, why would this be of any use to customers of an investment firm. Surely they would be far more experienced than beginners ? I’m sorry, it just doesn't add up, infact, it stinks.

Just my opinion and nothing else,
Steve.
 
it seems that despite everything , a lot of people are still looking for courses of such nature.

interesting in more ways than one.
 
OK

At last.

I have finally had time to study the material fully.

I am quite happy to say that the it is NOT a scam and the product is genuine. However, The mailshot that the guy sends out is way over the top. I guess he thinks that's the only way to get people interested in trying out or buying his product.

The product is quite sensible and offers very useful advice to complete beginners.

It covers all the major methods of dealing in shares.

My only complaints with the package are as follows:

(1) It would be much nicer if the diagrams were in colour
(2) There needs to be a little bit more explanation on the charts
(3) The last 20 or so pages look as though he was trying to finish the book quickly; they are a little too brief. I reckon they should have a little more detail and could do with another 10 or so pages at least.
(4) The DVD adds very little to what's already in the book. Only the very last section of the DVD is of any real value. He should have given greater insight or more advanced technique or live trades or something.

For a complete beginner the price (around £55 including p & p and 3 weeks FREE trial) may be worth it. But I reckon a better price would be £35 given the products shortcomings outlined above.

Perhaps the moderators may want to have a look at this product and perhaps put it up on this website as recommended reading (and arrange a discount for members).

It is a pity though that he has to go into exaggerated excitable tones in his mailings in order to sell his product. I can well imagine some people being pretty angry after thinking that they had found the Holy Grail only to be greeted by material that is quite sober.

For those of you of a cynical persuasion, I can assure you that the actual material itself (I am not here including the invitation/offer mailing) does not make exaggerated claims as to what can be achieved and is littered with warnings as to money management and exit strategies etc.

I hope the info I have provided is helpful
 
Financialistix…..

Thanks for the input. I can see that you have covered quite a few points.

However, the problem that I have is the method used to sell the ‘product’.

When compared to the price of some similar products it is hard to say £55 is a rip off. We know that some similar products get punted for £300 - £400 a time although quality and content does vary enormously.

The point is how the author promotes his product….. “I’m going to show you how to make a tax free fortune from financial speculation”…..

This statement is ambiguous. Maybe it’s like that on purpose. I would ask the following…

1) He is simply claiming that he is merely introducing you to ‘spreadbetting’. Ie letting you know of the existence of spreadbetting and therefore ‘showing’ you a tax free method of making money.

Or

2) Going to show you a method which, through spreadbetting, will make you wealthy ?

I would suggest that people with little knowledge of financial markets would, 99% of the time, interpret the statement as answer number 2. As we know that there are no ‘holy grails’ we know that interpretation number 2 would be misleading.

At the end of the day the guy is either interested in helping others to trade successfully or he’s seeking to make money through the promotion of his ‘product’. If his interest was genuinely to help others then there would be no need to promote his product in the manner which he has done. If, however, he was interested in making as much as possible by selling as many products as possible then the methods he uses to promote his product are understandable.

At the end of the day folk have to make their minds up and decide if this guy is just ‘jumping on the bandwagon’ which is ‘selling across the internet / mailing lists’ or whether he has genuine interests as heart. I’d have to strongly suggest, from what I have seen and indeed read, that this is just another attempt to sell a ‘get rich quick’ scheme to unsuspecting / naïve people who might be looking to better their lifestyle.

Steve.
 
If anyone mentions the word 'secrets' in their sales pitch, that tells you all you need to know.....
 
My father-in law received this mailshot and was going to buy it but asked my opinion first. I think he's just the sort of person that this is aimed at - recently made redundant and looking for an alternative income. I think this type of 'get rich quick marketing' should be more tightly regulated. Although obviously not true for every customer, I think it goes too far in terms of preying on the vunerable. It's been said before but there is no magic formula apart from working hard at learning to trade using tried, tested and extensively published methods.
 
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