CFD training - Pacific Investor Group & others??

[mhubert]

hi all

Has anyone experienced either the in-person or home study courses by Pacific Investor Group or other suppliers?

Any recommendations, warnings, etc?

thanks

 

[pacer]

What is the cost of this course?

Hometrader offer a full training course that costs around $3000 but covers everything you need to know about CFDs and trading by the numbers.
I did the first half of the course and decided it wasn't for me at that stage, but the information I gained into trading and charting was great, got a full refund and got $100 extra just for turning up.....cool..it paid for my fuel and a nice lunch. Got to keep alot of the reading material aswel.
might give them another go someday but..................
After the course I found that I was unable to open a CFD trading account (no reason given) with ANZ Etrade so you may want to try and open one before you buy into this course (or is it a scam? I dont know.) or you could be wasting your time and money like I almost did.

 

[markrmau]

Personally, I don't see why anyone would need a course for trading cfds.

If you have a reasonable amount of experience in trading normal shares, you can probably move onto the extra leverage and ability to short that cfd's provides without too much trouble.

If you don't have experience in trading normal shares, you shouldn't be using cfd's.

 

[Strw23]

I am a member of Home Trader. As far as I know they dont have a CFD course. They have their normal course on technical analisys which also has a CFD module. I think the info that they teach is invaluable. As for you not being allowed to opena CFD account, to the best of my knowledge it is illegal for a market maker to let you trade with them if you have no general trading experience first. On most application forms you will be asked if you have traded before and foe how long.

If anybody is interested in Home Trader or want to learn more about TA then I would recomend going to one of their free seminars held each week to see if it is for you. They now have a number of products not just the Home Trader course


Scott

 

[mhubert]

Thanks for that.

I went to the Hometrader seminar last week. It was quite good, not the hard Yank sell like Optionetics etc. Course cost quoted was not $3k but is actually $9K to get to the meaty bits in the second part of the course, from the outline they handed out, part 1 is 18 hours on stuff that really looks like what you can get from reading books & practice. But you get it faster (Worth $9k for that?). The second part is systematising your trading.

No mention of CFDs.

I'm always wary when someone offers you a hefty discount to sign up on the night. (And their mandatory financial services guide states the "discount" price as the price!). The presenter seemed credible. There was no comment on people that didn't make the 180% returns & why.

But I'm still interested in them.

The Pacific Investment mob is a home study. Bedford & a couple of others also do similar home study things.

 

[Strw23]

9K. Must have gone up since I joined. It was 6K when I joined and by signing up through a company I created to trade shares through made it is all tax deductable. Because I put my name down on the night to say I was interested when I did join up my wife was able to join as well for no extra fee. Some of the good things I like about HT are

1. You can go to the classes as many times as you like forever until you feel you have grasped the subject.
2. Any new profitable indicators, methods or course updates are passed on to existing members for free.
3. Free monthly members meetings in each state where they discuss different topics each week including - smsf, different wealth creation ideas, physcology of trading, etc etc.
4. A good forum and support line to discuss ideas and get technical help if required.
5. Competions - most profitable short and long term trade of the month prize $500, highest % return for the quarter prize $1000, highest % return for the year prize $5000. Each one of these comps pays cash for winning and even if you dont win I think you get $100 voucher for entering.
6. Yearly Conventions in exotic locations were you can go and learn new trading ideas and write the holiday off to tax.

They also now have some cheaper new products for those not wanting to sign up for the full 6K package.One is a cheap home study course that teaches the basics of fundamental Analysis and the other is the same as the HT course without the system design part and then you get daily buy and sell signals for different systems they have.

As for people making 180% per quarter it is a regular occurence depending on the overall market performance. They have just released the last quarter for 2005 results and the top 2 had 93% and 85% respectively. The quarter before that saw the top 2 both over 169%. Its worth mentioning that most of these people winning these comps trade CFD's.

I hope this helps

Scott

 

[Strw23]

The Pacific Investment mob is a home study. Bedford & a couple of others also do similar home study things.

I have been givensome diiferent programs and products produced by bedford and tate by someone I was sharing programs with and found there stuff to be very unhelpful. The only thing i did like from them was a cd on diferent tax deductions and implications for traders.

Scott

 

[wayneL]

9k? each?

No wonder these educators don't trade.

As a matter of fact, what am I doing sitting here trading?

If folks are prepared to fork out that instead buying a book or two......I've just done a business name search and I'm registering "Super Dooper Ultra Mega Trader"

I'll do it for $8,999

 

[mhubert]

9K. Must have gone up since I joined. It was 6K when I joined and by signing up through a company I created to trade shares through made it is all tax deductable. Because I put my name down on the night to say I was interested when I did join up my wife was able to join as well for no extra fee. Some of the good things I like about HT are

1. You can go to the classes as many times as you like forever until you feel you have grasped the subject.
2. Any new profitable indicators, methods or course updates are passed on to existing members for free.
3. Free monthly members meetings in each state where they discuss different topics each week including - smsf, different wealth creation ideas, physcology of trading, etc etc.
4. A good forum and support line to discuss ideas and get technical help if required.
5. Competions - most profitable short and long term trade of the month prize $500, highest % return for the quarter prize $1000, highest % return for the year prize $5000. Each one of these comps pays cash for winning and even if you dont win I think you get $100 voucher for entering.
6. Yearly Conventions in exotic locations were you can go and learn new trading ideas and write the holiday off to tax.

They also now have some cheaper new products for those not wanting to sign up for the full 6K package.One is a cheap home study course that teaches the basics of fundamental Analysis and the other is the same as the HT course without the system design part and then you get daily buy and sell signals for different systems they have.

As for people making 180% per quarter it is a regular occurence depending on the overall market eprformance. They have just released the last quarter for 2005 results and the top 2 had 93% and 85% respectively. The quarter before that saw the top 2 both over 169%. Its worth mentioning that most of these people winning these comps trade CFD's.

I hope this helps

Scott

Thanks.

All that was actually part of the sales spiel, they didn't mention the home study choice (or did the sales woman that called me the next day).

I'd still like to hear from them about the people that flop & why - & what % of their course attendees are the oft-quoted high performers as distinct from average & losers. Like all these companies they also always seem to quote gross profits, not include CGT, fees, etc.

 

[wayneL]

Give me 100 people with $1000 each and I can end up with 6 people with 3,100% profit within about 10 minutes

MY course is now discounted to $8,950. Become a "Super Dooper Ultra Mega Trader" Now!

 

[Strw23]

Give me 100 people with $1000 each and I can end up with 6 people with 3,100% profit within about 10 minutes

MY course is now discounted to $8,950. Become a "Super Dooper Ultra Mega Trader" Now!

Wayne, You make me laugh. On a seperate note where do you live in Geraldton? I used to live there until about two years ago when I moved to Mandurah. Its all personal opinion but I think the move was a good idea.

Wayne and mhubert, I wont rehash the same old stuff I have already said but if people arent making a healthy profit after doing the hometrader course thats because of their own personal and emotional decisions. With the course they have outlined a certain number of indicators and gates that work well in trend and reversal style systems for Australian stocks and these are the main focus of the course. Part of the sign up fee includes access to daily scans they do of the market with these indicators and all this is compiled in to excel spread sheets. They teach you to make a system using the indicators they teach (optional) and provide coaches to work through your system and backtest it until you are happy with it. Obviously people arent making 100% returns every quater but the results are well above the market. In the end they can only teach you, what people do with the knowledge is up to them.

Scott

 

[wayneL]

Wayne, You make me laugh. On a seperate note where do you live in Geraldton? I used to live there until about two years ago when I moved to Mandurah. Its all personal opinion but I think the move was a good idea.

Wayne and mhubert, I wont rehash the same old stuff I have already said but if people arent making a healthy profit after doing the hometrader course thats because of their own personal and emotional decisions. With the course they have outlined a certain number of indicators and gates that work well in trend and reversal style systems for Australian stocks and these are the main focus of the course. Part of the sign up fee includes access to daily scans they do of the market with these indicators and all this is compiled in to excel spread sheets. They teach you to make a system using the indicators they teach (optional) and provide coaches to work through your system and backtest it until you are happy with it. Obviously people arent making 100% returns every quater but the results are well above the market. In the end they can only teach you, what people do with the knowledge is up to them.

Scott

Scott,

I'm living in Windina at the moment. But all our friends live around Wooree - Moonyoonooka, so will end up around there with a few acres... once this house price silliness passes.

Horses for courses eh? I would become suicidal living somewhere like Mandurah. But lots really like it, enjoy.

Cheers

 

[Prospector]

I went to their free seminar about 2 years ago before I started trading. I was tempted, because at the time of the seminar (November) it was around $3.5k. I deferred making the decision until February and it had doubled in price so I said no.

Their free seminar was very helpful and talked about charting, which I now use on my trading style. But they didnt mention CFD's which I understand is one of their primary tools.

So I decided to educate myself, read, pick other's brains and invested in some software for charting (Incredible charts) and recording (Portfolio fronteir). After 2 years I am pretty pleased with it all, and have picked up some healthy little spinners at early stages (PDN at 11c now $3.90; AWE, BTA, COH, MBL at $32!) in only 2 years. So overall up around 50% per year. I just realised today that I can actually live off my trading : but we are investing it back into our company instead!

I have a degree in psych and come from a family of psychologists - If I could sum up my style it is basically trying to watch the patterns of others - maybe I just spy on the insider's trading patterns! But I like to call it the market psychology.

 

[wayneL]

I went to their free seminar about 2 years ago before I started trading. I was tempted, because at the time of the seminar (November) it was around $3.5k. I deferred making the decision until February and it had doubled in price so I said no.

Their free seminar was very helpful and talked about charting, which I now use on my trading style. But they didnt mention CFD's which I understand is one of their primary tools.

So I decided to educate myself, read, pick other's brains and invested in some software for charting (Incredible charts) and recording (Portfolio fronteir). After 2 years I am pretty pleased with it all, and have picked up some healthy little spinners at early stages (PDN at 11c now $3.90; AWE, BTA, COH, MBL at $32!) in only 2 years. So overall up around 50% per year. I just realised today that I can actually live off my trading : but we are investing it back into our company instead!

I have a degree in psych and come from a family of psychologists - If I could sum up my style it is basically trying to watch the patterns of others - maybe I just spy on the insider's trading patterns! But I like to call it the market psychology.

Good on you! You don't need no stinkin' $7k seminar

JUst one comment, Making a "living" on the ASX in the last 3 years was too easy. Make sure you have some bear market strategies as well

Cheers

 

[Prospector]

Wayne you sound just like my husband! :

And I agree with you both.

 

[mlennox]

9k? each?

No wonder these educators don't trade.

As a matter of fact, what am I doing sitting here trading?

If folks are prepared to fork out that instead buying a book or two......I've just done a business name search and I'm registering "Super Dooper Ultra Mega Trader"

I'll do it for $8,999

alot of success stories out of hometrader i wouldn't be knocking them, i agree their overpriced but knowledge is knowledge some people simply can't learn from a book (and have too much money )

 

[happytrader]

Hi all

For those looking for education on CFDs. A 2 day course will be held at the Softel in Melbourne on the 7-8 October. It is a fully catered event which should help offset the $497 price tag. Anyway check it out at www.cfdmastery.com

Cheers
Happytrader

 

[SevenFX]

Hi all

For those looking for education on CFDs. A 2 day course will be held at the Softel in Melbourne on the 7-8 October. It is a fully catered event which should help offset the $497 price tag. Anyway check it out at www.cfdmastery.com

Cheers
Happytrader

Hi Happy Trader,

Have your been to this event....????? And what can you tell us about it.

$500 does seem like lunch money, esp when you compare it to other spin doctors out there...???? which all of these seminars you will learn something worthwhile....it's just how much more would you learn for 7-10k vs $500 or as waynel mentions a few good books at around $50.

I personally seek out Video & Audio material (auditorial type person) which I think is great value.....and easy to digest over and over again.

I found a real bargin for $9.95 (cassette's , yes casette's) & $39.95 (3 cd's "The 7 habits of highly effective People") over this weekend at a bookstore, yes bookstore, not online store on the internet.

p.s I forgot casette's had 2 sides of audio, and could'nt for a few seconds find the second casette..... duh

Cheers...
SevenFX

 

[happytrader]

Hi SevenFX

No I haven't been to this particular event because its the first one that I know of he has done on CFDs. However, I have been to many of his other events and 2 option seminars. Comprehensive, usually with full instructions and insider knowledge - takes one to know one stuff.

However, I must say not many people I know ever get down and study the notes and follow his rules first off - I know one. They usually have to get beat up by the market first before they develop a, 'I will do whatever it takes to win' attitude before they respect them enough to follow them.

If you have this attitude SevenFX, then this course and the associations would be of value to you.

Cheers
Happytrader