Free workshop from Sandy Jadeja

[PitBull]

Hi everyone

Just curious whether this guy, Sandy Jadeja, is genuine, as have been on one of his free workshops today from Finspreads and was quite impressed. However, I am sceptical. He mentioned that he was unknown, manages his own private funds, worked for the LSE and provides training for 1 day at approx £650 and personal 1-2-1 for £150 per hour. He kept on about how much financial institutions would pay him to run his courses and he mentioned £50,000!!!!!! I had to laugh at this stage and from there on I was casting my mind back to the many T2W posts about expensive training courses and how these people make their money, NOT from trading I may hasten to add. OK, he may of supplied a couple of recent trades and he shared with us his entry and exit strategy. Basically, penetration of a FIB level, mainly 62% or 79% and the signal is the next bar closing above(for longs) below (for shorts) the previous days close and the use of pivot high and low.

When asked whether he would provide these 1 day workshops or 1-2-1 he said he was fully booked and would struggle to provide any future training as he was so busy flying all over the world....such as Holland where he says SpreadBetting has taken off big time. Anyone agree with this?

The other students were so keen to put money into this guys hand that they were dribbling at the mouth to give him money :cheesy: They asked for my phone number so that we could organise a group training day, as he said he would only do more workshops if it was worth it. Funnily enough I gave him the number of my local chiropodist. :cheesy:

Basically, it did give me a simple strategy, with no indicators only price bars, but I hesitated or even bottled it when I was about to ask him whether he knows T2W and what his is alias and would therefore blown my cover of an innocent newbie willing to chuck money at him.

I quote: "it takes me 15 minutes a day to find a set up that is worth trading. If only it was so easy!!!!!!

 

[Trader333]

Pitbull,

In my experience if something sounds too good to be true then it is. Also if he has given you his entry and exit strategy what else do you need ? If you check out the Level II threads you will see Naz uses Fib retracements extensively for trading setups. The only other thing you would really need is a sound money management strategy and in my view this is the most important aspect of trading.


Paul

 

[Finlayson]

I am not saying there is anything wrong with teaching & training, but one question always comes to mind when I read of trainers like this or any that seem to train more than they trade & charge stupidly high rates for the privilege of sharing their 'simple strategy'.....& that is WHY ??

if u have something so simple successful & easy that u could share it in one day, why not use it yourself & trade & make good money like that, Trading in it's execution is simple, all we have to do is click the mouse & that has to be easier than teaching someone, 'Teaching' is NOT easy. Of course successful trading is not that simple, but if u have 'cracked it' why not just get on with it!

as I say I am not against teaching altogether, but there is a balance & I believe in that old saying ''use it or lose it'', so how can someone who spends all their time teaching ......teach u how to trade?. someone who trades & teaches a few students now& again, & teaches by 'trading live' .....fair enough, u know they are passing on genuine experience & not just theory.

this is just my opinion & maybe someone can put me straight on this, but there are many new people out there wanting to learn this exciting business so it seems very easy to take advantage.

I'll get off my soapbox now

Jay

 

[Skimbleshanks]

Teaching someone to trade is easy.

Teaching someone to make money by trading, is not.

 

[Grey1]

Nice comment Skim ..

I coached my G/f to trade US stocks using a Simulator last month and she was making around 5-10 K a day .. SO she said can I keep 10% of the profit , I said sure but if you lost you owe me 5%... She said Deal ,,, can't be fairer..

Next I let her trade with real cash on my Datek account and she lost $around 800$...

She owes me $40.. hence her dog had to go on special diet to pay her debt back.. And this is a true story ( except the diet bit )



THERE IS MORE TO TRADING THAN SEMINARS

 

[Finlayson]

Fair point Skimble,

thankyou for correcting me

Jay

 

[Skimbleshanks]

I'm not correcting you at all JayGE, I'm just pointing out that there's a huge difference between one's ability to trade and one's ability to make money trading.

Therefore, there's easy money to be made teaching people to trade, which is why so many seem to do it. Darren Winters is now running a radio advertising campaign, so there must be HUGE money in teaching people to trade.

But only by getting inside someone's head and having a good sort out of the ego and emotions can you ever hope to teach someone to make money trading.

So if VS and DW get into brain surgery, just run a mile! :cheesy:

 

[Finlayson]

I'm just pointing out that there's a huge difference between one's ability to trade and one's ability to make money trading.

there is a lot of truth in this & I think anyone considering paying any coach/teacher should consider this first & think on how that coach makes their living

Jay

 

[PitBull]

Thanks for the comments.

Yes it does seem true to say that it is easy to talk a good game, but putting it into practice is the hard part. I mentioned this to Sandy at the course and hes' attitude was rather blase and he seemed to imply that it is easy to make £15K a week or £200K a year, simply spreadbetting. Hold on a minute......he spends most his time training and jetting all over the world holding seminars and he still makes over £200K a year trading. Where does he find the time??? A couple of other points which he seemed to shy away from, was the fact that other courses were not as good as his. he mentioned Darren Winters a few times and Chris Manning, but didnt like their approach to lecturing to 100's. His groups are kept small, so that he can give undivided attention to his students. I asked him about darren Winters and all the bad publicity he has received, but he seemed not wanting to go there.
I asked why he doesnt use a broker and he said that with spreadbetting you can alter your stake size to as little as you want. OK fair point, but what about the spreads I said. Dont worry about them, youre position trading over 2 to 10 days.
Is this guy for real? Im sure teh experience traders out there would like to comment on whether he is?

I felt sorry for the students begging him to coach them at an extortionate price, where you can probably get more info from here than any book, seminar or website.

He also took us around the Finspreads trading floor. The guy seemed to be like some sort of GOD, who is making big bucks from Finspreads. For example, he talked about how the floor went crazy the other day when Caterpillar released good earnings results and most people were long on the floor. However it dropped like a stone 400-500 points in the opening and this guy Sandy was short £500 per point, so he says. Do the maths!!!!

 

[Skimbleshanks]

Call me cynical, but something just doesn't add up. £500 a point, and he charges £650 a day?

Surely a SB company whose customer requests to open a position at £500 a point is going to look very carefully and give a nice big spread. Surely?

Maybe he's a news trader so needs to stake big for quick trades.

I'd love to know from someone at a SB company (any one of them) just how many of their customers regularly stake £500 per point. And secondly, what is the average stake.

 

[PitBull]

totally agree skim,soon as he said this i think he basically blew any credibility i had for him.

 

[Skimbleshanks]

Pitbull:

The other thing that struck me while reading your two posts was that the chap concerned seemed to be trying too hard to sell himself.

Now if that was me, I would show 'em what I could do, show 'em the records, then say 'take it or leave it'.

I wonder why he doesn't do that? Oh, silly me, perhaps he can't. :cheesy:

 

[PitBull]

But the ironic thing is Skim, Finspreads promote this guy.......

 

[Skimbleshanks]

Remember that every single SB company needs a continual influx of new customers. Those customers are likely to come in faster if they are lured by tales of mouth-watering piles of easy money. They flock in, which therefore meets the marketing objectives.

 

[Trader333]

Pitbull,

You posted:
"I asked why he doesnt use a broker and he said that with spreadbetting you can alter your stake size to as little as you want. OK fair point, but what about the spreads I said. Dont worry about them, youre position trading over 2 to 10 days"

This statement is total nonsense if you are trading at £500 per point. It may apply to those who want to trade at £1 per point but no-one in their right mind would pay a spread of even 4 points at £500 per point (£2000) when you can use a direct access broker and pay a fraction of that. It also makes no sense that he is selling courses when betting at this level as it is chicken feed in comparison.

Draw your own conclusion but as Skim has already said it just doesnt add up. Also every bookmaker and SB comapny wants new clients but ask yourself do they really want them to win ?



Paul

 

[PitBull]

Totally agree Paul, the wool has not been pulled over my eyes!

 

[wisty]

I too was at the SB company seminar with sandy

hmm kinda blew his credibility for me ( new to trading) when he agred with a group member that astrology was important in his system

that and the secret fibonacci number known only to 5% of the world.

 

[FTSE Beater]

Astrology - how interesting

A secret Fibonacci number? How can that be. Fibonacci has been dead how long? About 500 years is it?
Either way, it was a long time ago and any secret number would have been taken to his grave.

I have a feeling it is 23% and 78%, which I found out from Skim quite a while ago.

Hold up: 5% of the world. There's about 6 billion people in the world so 5% is about 50 million people who know
<hr>
Hi Paul & Pitbull

"I asked why he doesn't use a broker and he said that with spreadbetting you can alter your stake size to as little as you want. OK fair point, but what about the spreads I said. Dont worry about them, you're position trading over 2 to 10 days"

This statement would have been fine, if he was trading FTSE 100 shares, as the spread is the same as the market, but as he was talking about a US company - the statement can't be true and I agree with all that Paul said

 

[Skimbleshanks]

89 is a special fib number.

 

[options]

Damn, 20 off my favorite number.