Who gave you this financial advice?well i had some financial advice ( which was clearly conflicted ) by a business named in the Hayne Royal Commission , that business divested it's financial advice arm afterwards ( and faced some fines )
.. and i was astute enough not to take that advice
a little bit of early education can help you side-step some of the traps ( but even the best get caught in some )
a very BIG business one still with a swag of lawyers ( think ASX top 20 big )Who gave you this financial advice?
Who is the business named in the Hayne Royal Commission?
Which business divested it's financial arm?
Hi NatWhote,
In more that 12 years since I did the Nik Halik Sharelord Trading Education taught by George Fokas, later to become Fokas Beyond, I have only ever come across one other "Fokian" and he had done the "training" 2 years before me, and he is still fixing cars, and was paying back his wife the loan for the "training". Me.... the "training" cost me hours of lost time, grey hair and AU$75k ($5k in "training" and $70k in 1 bad trade). The support I was given was "stay in the trade" and GF hung up. I believe the difference between Halik and Fokas is that Halik showed you how to find the trades, gave you recommendations and you used your own broker of your choice. I believe Fokas does not show you how to find the trades in this version of the "training", sells you annual subscription for recommendations and you have to use the Fokas trading platform otherwise he can not offer support. He is not teaching you to fish... He is selling pans, shovels and "trading the gold".
So he makes $s for "training", $s for "subscription service", $s from trading platform in trading fees, and if I read it right... If everyone uses Fokas platform, he can see all the trades, and work out the most profitable trades for himself via the trading platform. He has the best of his "staff" making the recommendations, he can buy the trades a day or 2 before issuing the recommendations to "students" and sell the trades on to student after the recommendations are issues. That's why students only ever make 1-5% per trade (which is not bad for a student), where the trades should be making 3-8%. So he makes 2-7% arbitrage or more per trade with almost no risk, because he has ready buyers in his "students", or which others call the "Magic Moo Cow" strategy.... Because I just worked out why it was called the "Magic Moo Cow" strategy (rolling-in-his-grave). Students, Cows....
The old Sharelord Trading Education lost a trainer and originator lost focus on the product, the Sharelord Trading Education became something like Sharelord Network, sold of to interested members, and last I heard was it finally died about 4 years ago.
So like alot things in the money making world... it's a gold rush.
(Let me know if any of this is incorrect)
there are risks everywhere in investing , George Fokas is one of those risks in the investing arenaI'm trying to understand what this has to do with George Fokas and Fokas Beyond?
As I said earlier in the thread, there is nothing intrinsically wrong with the strategies and at times are very valid trades.since he has been operating for years , what he is doing must still seem to be inside the law ( in Australia )
ah yes the joys of advertisingChuck in a few weasel words in the right places and Shazam! All legal. It sux.
Please don't misunderstand... (I'm not his cousin...I was just searching after attending a Fokas "masterclass" last week and came across this thread.
Oh wow, that pretty much explains everything. I sat through the 3 or so hours of him screaming at the camera, because I was just intrigued to see how he sells and what slippery strategies he uses.
One of the best parts was where he said in your initial weeks you won't know what you're pressing (on the platform) but as long as you follow the process you don't need to know it to make money!
It was a classic case of, if it sounds too good to be true, it most certainly is. He positions it as a no risk investment with pretty much guaranteed cashflow, you don't need to worry if the stock goes up, down, doesn't move, blah blah blah...
I really wonder how he's still operating if this is how he makes his money. He doesn't hold back rubbing it in how he spends 4 months a year in Greece at his multiple properties. Looking at his Facebook ads, he runs an extensive campaign in Greece and is fleecing the locals there too.
The webinar is also full of NLP, repetition, affirmation, hand raising, saying YES a million times and basically guilt tripping people into signing up at the end. Unless you don't want your life to change for the better, you should....
In 2024, I'm amazed these sorts of scammers are still able to operate
Anyone reading this, steer clear of the greasy headed fokas!!
There are so many strategies out there....Someone I work with has been using Fokas Beyond platform for about 5 years now. I was interested and went to one of his seminars, it sounded great but because you had to sign up and buy the software and training I was hesitant. I have been looking into other ways of trading Options/CFD's etc but still am unsure of how to get into this kind of trading on a more casual basis.
A few decent books will teach you more than Hocus Focas ever would.Someone I work with has been using Fokas Beyond platform for about 5 years now. I was interested and went to one of his seminars, it sounded great but because you had to sign up and buy the software and training I was hesitant. I have been looking into other ways of trading Options/CFD's etc but still am unsure of how to get into this kind of trading on a more casual basis.
A covered call and a covered call with a protected put are two different beasts.There are so many strategies out there....
All I can say is pick one and study it. Don't like it go to a different strategy.
What Fokas does is simply a "Covered Call" strategy, with or without protected Puts. Search here on the ASF and find out about it.... Ask around.
Be warned option and CFDs are leveraged instruments. If they go right, they're profitable. If they go wrong they bite, and could tank your account.
Great, thanks for the tip Kalo. Much appreciatedThere are so many strategies out there....
All I can say is pick one and study it. Don't like it go to a different strategy.
What Fokas does is simply a "Covered Call" strategy, with or without protected Puts. Search here on the ASF and find out about it.... Ask around.
Be warned option and CFDs are leveraged instruments. If they go right, they're profitable. If they go wrong they bite, and could tank your account.
Thanks Wayne, I have been looking at purchasing books but haven't done so yet. Boffins have a few as does Educated Investor.A few decent books will teach you more than Hocus Focas ever would.
There are some pretty useless books too, but I would recommend books by the authors MacMillan, Natenberg and Cottle.
Options have a lot of moving parts and you need to know them before you step in and step on a land mine, you just do.
and novices should be VERY cautious about options/CFDs , the strategies can produce very sudden results ( i remember a buddy caught badly doing the FGC , and he was very experienced at the time ( had a financial advisor certification back then )Hey Wayne,
Thanks for that high tech....stuff...
I think all you managed to do is scare the poo poo out of Richo56....
The guy hasn't started in the markets yet.
I'm a property person and a Covered Call strategy is analogous (similar) to buying/holding a property, that has a cashflow (rent(dividend)), and selling a contract (it is also called a Call Contract in the property world) for a fee (premium) for someone to promise to buy it if it goes up in value at an agreed price and time.... What great deal!!! And If you don't want to sell it you go to market and buy the Call option back, albeit at a higher fee less time value, hence paying you for your time. If the property (shares) drop in price the Call contract expires worthless. Go again, next month....
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