complete newbie advice?

[Charlton]

No harm in attending I suppose, as long as you ain't travelling hundreds of miles for it and you don't take your credit card..

The problem is that, for many people, there is harm in attending. I am not suggesting it is the case with you because you rightly point out don't take your credit card.

These so-called "free courses" are merely selling opportunities. They are designed to draw people in using the same psychological tricks as have been used to sell time-shares and other get-rich quick schemes. The salesmen are often slick and present promising lifestyles. The language used is chosen carefully. There will always be some bait to get you to buy immediately "we like you guys, you have turned up tonight and so you are entitled to a special discount, if you buy now etc". The session will often be high-pressured and very intense. They know that if you leave without buying then you will have time to reflect and probably come to your senses.

They might well offer some tit-bit of "useful" information to the newbie, but these tit-bits are so easily obtained here and elsewhere both free and devoid of psychological pressure.

I sincerely hope that Timsk will add some advice to his "Essentials" thread to be very wary of all of these schemes and their free introductions highlighting the psychological tricks they use.

Charlton

 

[Pi3141]

Ok a quick update on how the free seminar went.

In a nutshell, it was a complete and utter waste of time and, like most of you here have pointed out, it's just an opportunity for them to promote their products.

The speaker at the seminar glosses over some important points with spread betting. One person in the group asked why spread trading (the speaker always used the term spread 'trading' rather than spread 'betting', cheeky) is tax free and the speaker responded by saying that spread betting companies make millions a year and pay corporate tax therefore we dont have to, and that trading is a 'zero sum game' - you win you lose so why should you get taxed on it. He failed to mention that spread betting is still classed as a form of gambling, which, I think is the main reason why spread betting is tax free.

Another member of the group asked why, if their systems were so successful, would they be willing to be so generous as to sell it to people? And the speaker responded by saying that owner Greg Secker was already making millions from trading and so he decided to turn his efforts to teaching people how to trade. Whereas I was sat there thinking 'Hold on, spare me this high and mighty crap, the truth is, your system is by no means unique or special in anyway. If you truly had a special system you wouldnt sell it to anybody'. The methods that they use for their system is, as maq stated, trading breakouts and looking for areas of consolidation and a reverse trend is likely to happen - 'power plays' as they like to call it.

All in all, a quick search on this forum and you can find all this information for fre

 

[Shanghai]

Yes someone posted his systems on here before. To be honest if you trade then strictly in accordance with the rules and use good money management they are not bad systems and will probably make some money although they won't make you rich. However you can learn as much on here and by reading books. In fact some of the systems in Malcolm Prior's book are quite similar and much cheaper to obtain of course.

 

[CoolCat49]

Yeah, yeah, yeah, we all know they're selling their courses but why not cruise the freebies for the nuggets us newbies can glean. This one's tonight and you don't have to go anywhere, just log on, pour a glass of wine sit back, watch and learn. http://www.tradetheeasyway.com/ It's a small set-up and 1-2-1 beats halls full of punters for me

 

[timsk]

I sincerely hope that Timsk will add some advice to his "Essentials" thread to be very wary of all of these schemes and their free introductions highlighting the psychological tricks they use.

Hi Charlton,
As it happens, until now, I haven't said anything at all about vendors in the 'Essentials of First Steps' Sticky. However, in light of your comments, I've added a section which touches on the subject. Thanks for mentioning it.
Tim.

 

[LoveToTrade]

hi guys,

im looking to get into trading as it has always intrested me! I was looking for some advice of were to start?

ive booked to go onto a free seminar by greg slecker in liverpool next month! and was wondering if they any good material out there i can read?

once i got some good knowledge il use practice accounts before i trade live!

But for know im looking for material or free seminars or even courses that dont cats a fortune to learn.

all advice greatly appreciated?

Greg Secker is garbage. Save your money and more importantly, your TIME.

I subscribed to one of his Forex Signals services last year and it sucked big time - So inconsistent and flakey you wouldn´t believe, then they tried charging me after I canceled (was on a 1gbp trial). I would leave it well alone.

There´s plenty of good free knowledge on the internet I think without resorting to that sort of rubbish, just have to search around a little bit. I´ll get you a few links later and post them, just some good reading material from your computer screen.

 

[eddietheeagle]

Greg Secker is garbage. Save your money and more importantly, your TIME.

I subscribed to one of his Forex Signals services last year and it sucked big time - So inconsistent and flakey you wouldn´t believe, then they tried charging me after I canceled (was on a 1gbp trial). I would leave it well alone.

There´s plenty of good free knowledge on the internet I think without resorting to that sort of rubbish, just have to search around a little bit. I´ll get you a few links later and post them, just some good reading material from your computer screen.

Forget Secker...Follow the way of the Eagle....... ; )

 

[LoveToTrade]

Forget Secker...Follow the way of the Eagle....... ; )

What is the way of the Eagle ?

 

[LoveToTrade]

Oh dear, ive actually booked a free Knowledge To Action seminar tomorrow at the Birmingham NEC. But i'll make sure to leave my wallet at home in case they try to sell me anything

@thekaver: Im a newbie too (ive been paper trading for about 2months now) and I actually use the Phil Newton breakout out strategy that Harmudge pointed out. Ive found it to be surprisingly successful, so that may be something to look in to

I hear good things about this Phil Newton, and only good things. I am reluctant to look at Forex really otherwise I would seriously go check him out, in fact I might do so anyway... Nice to hear good things about people for a change (PS. Knowledge to Action and Greg Sucker ..... PAHHHHHHHHHHH).:innocent:

 

[LoveToTrade]

A daily email newsletter focused on long-term growth, value, and income-generating stock investments - http://crazypicks.info

LOL. Long term growth. Nice one, thats funny.

 

[Jonathn Devine]

hi guys,

im looking to get into trading as it has always intrested me! I was looking for some advice of were to start?

ive booked to go onto a free seminar by greg slecker in liverpool next month! and was wondering if they any good material out there i can read?

once i got some good knowledge il use practice accounts before i trade live!

But for know im looking for material or free seminars or even courses that dont cats a fortune to learn.

all advice greatly appreciated?

Investing in your education is paramount. Find a "successful" trader that you can learn from, create your own trading strategy based on your personality and risk profile, then follow a clearly articulated trading plan & stick to that plan. Minimise your losses and let your wins grow. But most importantly you need to have a strong trading mind-set & believe that you WILL be successful.



All the best with your trading
Jonathan