Stock courses

I attended a seminar on the weekend and one of the speakers was Lyn Summers and she has a stock trading course called "Stockcourse" - has anyone done this course and if so was it worth the $7000?

I doubt any course is worth $7000

$7000? That buys you plenty of learning power by trading yourself. I can't speak of the course, but I wouldn't consider it if I was in your situation.

juststarting said:

I attended a seminar on the weekend and one of the speakers was Lyn Summers and she has a stock trading course called "Stockcourse" - has anyone done this course and if so was it worth the $7000?

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Same old marketing rubbish. Offer a secret, in this case knowledge from the States LOL!!, then talk alot about supporting clients and helping them help themselves. That we are in it together, while the only thing that they are into is your pocket

Ask to see her live trading statements to prove to you that she actually has something to sell rather than snake oil. Would like to see that on youtube rather than the rubbish she has up-chucked there now.

Trembling Hand said:

Ask to see her live trading statements to prove to you that she actually has something to sell rather than snake oil.

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Get your $7000 snake oil here. Roll up, roll up!

Has anyone thought about all those poor snakes used in the making of the oil?

Found this on Lyn:

Lyn Summers - Trader & Mentor

Lyn Summers is the third child of seven siblings, born into a family who lived in a three-bedroom housing commission home in Melbourne. Lyn left school at the age of 15 and worked as a cashier to help support her family. During this time she found herself thinking, 'There must be more to life than this...'

At 18, she married and started a cleaning business with her husband. After many years of physical hard work, the business became very successful. This success allowed Lyn and her husband to raise their 3 children on their dream farm in Queensland.

In 1997, Lyn was diagnosed with cancer. Although she had built up an asset base, she was CASH poor, and due to her medical condition, Lyn realised her ability to work and pay the family bills had diminished.

Having heard of others making an income from trading the stock market, Lyn borrowed $50,000 and travelled to the United States to learn how to trade the markets from those recognised as being some of the best Traders and educators in the business.

Lyn has now been actively involved in the stockmarket for over 10 years. She has traded every strategy in the market through recessions and recoveries, and more importantly - made consistent, compounding profits… and made millionaires of many of her students in the process!

Today, Lyn from her home-office in Brisbane, enjoys sharing her knowledge with thousands of people through her international weekly webinars. She is featured in books and recognised on national television for her trademark patience and ability to take students from wherever they are starting… to a life of Personal Freedom, Money to Play with… and no more Boss!

Lyn’s monumental success worldwide lies in her ability to explain successful investing methodology with patience and compassion. She is revered for her safe and highly profitable approach to investing, and her intuitive perspective on global financial events.

Lyn is admired for her mentoring and people flock from all over the world to become her student and learn how to trade the markets with excitement and confidence. Her success as an investor is equalled by her ability to instil a commitment from her students to creating an incredible life of financial prosperity for themselves.

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Do you think she might have written this?

monumental success worldwide
admired for her mentoring
people flock
trade the markets with excitement
creating an incredible life

juststarting said:

I attended a seminar on the weekend and one of the speakers was Lyn Summers and she has a stock trading course called "Stockcourse" - has anyone done this course and if so was it worth the $7000?

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I haven't done that course but I can give you and answer anyhow "No Way" that's a very expensive education if your new to trading and a expensive education even if your already trading, for a fraction of that price a beginner should start with reading some books and a software program such as Amibroker.

Theres also a number of useful resources on the internet, also on this forum if you search the beginners lounge there are a number of topics for newbies.

So just out of curiosity....

What should be charged for teaching someone how to trade?

I ask because the firm I work for does run a program teaching people how to trade. I'm curious what you guys think that is worth?

Cheers

Sir O

Sir Osisofliver said:

I ask because the firm I work for does run a program teaching people how to trade. I'm curious what you guys think that is worth?

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This is a very dubious and in my not very humble opinion a misleading statement. To think you can give someone a couple of basic "skills" learnt over a handful of lessons and then they are able to take them to market to trade is at the heart of the stock education scam.

If they said to their potential clients that they where teaching you the basics to build on that would be acceptable and in that case the amount charged should be in line with other introductory courses put on for every other subject. That would be in the $50 to $100 an hour.

But they don't. They spew BS about riches from a couple of hours work. What does your firm say the clients are getting Sir O?

Trembling Hand said:

This is a very dubious and in my not very humble opinion a misleading statement. To think you can give someone a couple of basic "skills" learnt over a handful of lessons and then they are able to take them to market to trade is at the heart of the stock education scam.

If they said to their potential clients that they where teaching you the basics to build on that would be acceptable and in that case the amount charged should be in line with other introductory courses put on for every other subject. That would be in the $50 to $100 an hour.

But they don't. They spew BS about riches from a couple of hours work. What does your firm say the clients are getting Sir O?

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TH I'm trying not to identify the company that I work for, I'm also deliberately not giving you a) a price we charge b) everything that we provide c) full legal disclaimers. I do NOT want to be seen as using this website for promotion. This is a very small part of our business and yes we do teach people the basics and this is well understood by our clients. We are not in the "stock education scam" as you put it. However I can see I was perhaps a bit brief sooo...for the cost of the course (which is not cheap) you get...

A charting package

Large technical handbook about 250 pages, which explains jargon, gives worked examples uses a trading diary to track progress etc etc etc.

1 years subscription to a publication giving technical set-ups.

Two day workshop using live trading accounts (which you can reattend if you wish for a nominal fee run quarterly).

So TH - if you were designing a course to teach people the basics, what would you include and what would you charge?

Cheers

Sir O

I've already answered that. The same as any other education for a hobby

Trembling Hand said:

I've already answered that. The same as any other education for a hobby

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And what would you include for your $50 - $100 per client per hour?

Handbooks?

Presentation notes?

Computer packages?

Memberships?

Or just the scintillating brilliance that is you in front of an audience?

If you don't get the relevance of the question TH - this is what determines whether the business activity is one that returns a profit or one that merely wastes your time and resources. Every resource you provide has to have a cost associated with it otherwise you will find yourself out of business.

You also need to try and figure out how many people would attend TH's Training program $100 per person per hour might be excellent money with 10,000 attendees...probably won't make as much with only 2.

There has to be a cost appropriate to the activity, otherwise it's merely charity.


Cheers

Sir O

Sir Osisofliver said:

And what would you include for your $50 - $100 per client per hour?

Handbooks?

Presentation notes?

Computer packages?

Memberships?

Or just the scintillating brilliance that is you in front of an audience?

If you don't get the relevance of the question TH - this is what determines whether the business activity is one that returns a profit or one that merely wastes your time and resources. Every resource you provide has to have a cost associated with it otherwise you will find yourself out of business.

You also need to try and figure out how many people would attend TH's Training program $100 per person per hour might be excellent money with 10,000 attendees...probably won't make as much with only 2.

There has to be a cost appropriate to the activity, otherwise it's merely charity.


Cheers

Sir O

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LOL

That is my point. If the industry wasn't full of the churn and burn merchants blowing up all the punters who are yet to find the cheaper resources more efficient and honorable education providers would have a market to do what they do best, provide the basics at a basic cost.

But instead the industry is full of scammers that cannot make it in the industry they profess to be experts at. They play to peoples fear and exploit it to cover their own cost and profits rather than being honest about what they can really offer. Not much more than the basics at best.

Sir Osisofliver said:

So TH - if you were designing a course to teach people the basics, what would you include and what would you charge?

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If I wanted them to succeed a Huge account and lots of practise. Something trading courses NEVER provide.

If I wanted to just profit from them I would just provide hope.

Whats utter dogs doo doo to one person may well be beneficial to another, trading IMO is a very personal thing to do, the successful trader could show 100 people exactly what and how he trades and most would still **** it up and loose money.

The educators are able to charge like wounded bulls as there are plenty of people prepared to cough up a few $$$ to learn what they think would be an easy way to make money if only they knew how , without realising its IMO one of the hardest ways to make a living.

I think there's also a perception that unless you charge a decent wedge for your course or educational services then your not the real deal there are a few exceptions but on the whole many seeking to learn about trading use the "you pay for what you get" mentality, thing is though its a universe away from buying a vacuum cleaner or microwave

Trembling Hand said:

If I wanted them to succeed a Huge account and lots of practise. Something trading courses NEVER provide.

If I wanted to just profit from them I would just provide hope.

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ROFL - TH I'm sorry I just have to take the piss...I can't help myself.

Newb Student: "Um hello...is this Trembling Hand's Training course?"

TH: "Why yes it is son. You got your $100 an hour?"

Newb: "Um yes right here sir. Sir? I hear you are very successful that's why I've come to you to learn sir."

TH: "Excellent Kid, excellent, you'll find we don't do anything fancy round here, just cheap efficient teaching resources. In fact you'll find the only thing you need to become a proficient is a Huge account and lots of practice."

Newb: "Ahh... um that easy?"

TH: "No Kid it's bloody hard work practicing, But look I've got a prepared example for you, step over here."

Newb: "Um what's with the water wings sir?"

TH: "These represent your Huge account"

Newb: "Oh....really? Um Shouldn't they be huge sir?"

TH: "What? You think I'm made of floaties Kid? Now walk over here will you?"

Newb: "Um it appears to be a cliff sir..... and um sir I can't help noticing a swirling vortex of chaotic water at the bottom sir."

TH: "Yep to step off the cliff you need balls of steel kid, just like you would when you are trading. That first step takes courage kid. The chaotic water represents the market, sometimes it all moves in one direction like a big wave, other times it's just choppy with dangerous undercurrents, sometime you are just gonna get rolled and you need to learn how to handle yourself in those kinds of conditions."

Newb: "I...seee. and how do I learn to handle myself?"


TH: "Experience"

Newb: "Oh. Um surely a boat-"

TH: "Experience kid."

Newb: "A surfboard maybe?"

TH: "Experience!"

Newb: "Oh um...ahh...I can see a man in a wetsuit down there sir... oh but he appears to have a shark fin taped to his back?"

TH: "Yup that's Eddie Groves."

Newb: "Oh. and um is Mr Groves there to help me out if I get in trouble?"

TH: "No he's there to take a huge bite out of your back end if you get too close to him, see just like the real market."

Newb: "and um were you planning to tell me this before or after I'd jumped in sir?"

TH: "Oh No you'd have learn soon enough, that's the benefit of experience. Just be thankful we couldn't get Bernie Madoff at short notice, that guy'll take your leg off at the knee."

Newb: "oh..goody. Um Sir?"

TH: "yes Kid?"

Newb: "What's with the pin?"

TH: "Well it's simple. I merely make a small hole in the floatie, and you have to learn how to swim before all your air runs out. Simple cost effective teaching method, used it hundreds of times. So Kid there's the deep end in you get."

Newb: "Um Sir? I'm afraid of the drop...and the water...and Eddie Groves."

TH: "Don't worry kid, all you need is experience. Besides I've got a cure for your nervousness."

Newb: "Really? is it a boat sir?"

TH: "No my foot."

Newb: "Aaarrggghhhhh"

TH: "Good luck kid! Remember..experience!!!"



@TH - some people learn wit the sink or swim approach to teaching...others find it a tad difficult.

Cheers

Sir O

Sir - start on a Simulator, not getting chucked in at the deep end. So the cliff and swirling water is just on a screen at first. Sort of like a Wii, sink or swim in the comfort of your own lounge room.

I am obviously upsetting one of sir O's income "streams" by the amount of time he put into the last post

Trembling Hand said:

I am obviously upsetting one of sir O's income "streams" by the amount of time he put into the last post

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Yes TH It's very upsetting. Keep telling yourself that. You made a difference.

@ Timmy - Not according to TH. All you need is a huge account and lots of practice. I might beg to differ to that statement and actually agree with you that some methodology, systems, risk management techniques, position sizing, self discipline and training (either self taught or with a mentor) might be handy, but who am I to argue eh?

Cheers

Sir O