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HomeTrader

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Re: Home Trader

Went to a Home Trader full day course last weekend.
It was promoted as $798 worth for $98 - fortunately I got a last minute offer of a discounted rate of $49 for a full day session covering some financial basics plus CFDs, FX.etc.

It was said to include the following:
Trading 2009
• Full Day of Training (RRP $299) detailing money making strategies for shares, CFDs and FX from Australia’s most respected educators. See the detailed course outline here.
• FREE copy of Trading Software (RRP $440). All attendees will receive a copy of The Bourse which is a package used by professional traders and brokers across Australia.
• Trading Platform. This multimarket, low latency trading platform used by institutional traders globally.
• Live Trading Room Access (RRP $59.25). Watch a professional FX trader trade LIVE from your personal computer at home.
• 100% Money Back Guarantee – If at the end of the training day you are not completely satisfied with the Trading 2009 program; just tell us and we will return your course fee and you can keep the software and training materials!

I suppose it was worth the $49 but I'm glad I didn't pay more.
About 70% was legitimate education and the other 30% a sales pitch for HT and Your Trading Room.

The 'free copy' of The Bourse software however turns out to be the 14 day free trial that is available to anyone who visits the web site and completes a basic registration page. Suggesting the free trail actually had a value of $440 I think was just a bit misleading.

No idea what the Trading Platform is and haven't been contacted about the 3 days 'free' access to Your Trading Room site as yet ......

I've also read that StoneBridge (the new owners of Home Trader) are Tricom re badged after a $1.35 million fine from the ASX.

The $6,000 training fee seemed a bit steep but the more I discover the less keen I have become.
 
Anyone done the Home trader Course?

Hi All,
I am only new at share trading, and last night i attended the " Home Trader Seminar".
My Question to the more experienced people or in fact any one who may have done the course, it this course value for money, or is it another "black box of tricks" another scam to rip people off.

your thought would be greatly appreciated.

thanks in advance
Frank
 
Re: Anyone done the Home trader Course?


From my experience I have got nothing good to say about this company. You would be better to look for another course or read some of the many recommended books etc.

I have posted my feelings about them on my own website

Regards
David
 
Re: Home Trader

Mate, if the Black Box was that good why would they bother sharing it with anyone?

gg
 
I did the Hometrader course back in 2003 and stopped trading in about 2007 because I just wasn't making any money (although I didn't lose any money either). I am thinking about getting back into trading again.

Does anyone on the forum use Hometrader? If so:

1. Are you consistently making money
2. What are the provided systems like? Are the continuously profitable or are they variable?

Also, whatever happened to Capital Intelligence, the company that used to own Hometrader? I see it now has another name.

Thanks for your comments in advance.

Cheers

Karen
 
Karen.

My comments with regard to Hometrader are in this thread.
They arent the worst.
After 16 yrs of trading the Systems path in my view is one of the best paths a new trader can take.
The years (around 2) to become proficient enough to code systems (and they only need to be simple---simple works!) is well worth the effort.

You'll learn WHY a method/idea/hypothesis will work or fail.

You need to know if the idea you have as a trading plan will be profitable.

You just cannot tell this without
(1) trading it and suffering the success or failure) or

(2) exhaustively testing the idea and deriving a blueprint to compare you live trading---going forward to.

**Once you have this knowledge trading gets really exciting as you learn the advantages of Position sizing/Leverage/and compounding.

But thats only when you have a profitable system and some capital behind you.

The best publication on the ** topics I have found is an Australian guy Brent Penfold---'The Universal Principals of Successful Trading.'
 
Thanks for your reply Tech/A

I am certainly glad that I did the course and I don't begrudge the cost of the course. It did teach me how to design a system and I learned a lot of background information that I thought was invaluable. Some people might be able to learn this from books. I couldn't have. I need to see the practical implementation to be able to learn.

I think that trading is a career and education costs. I spent about $10,000 getting a law degree so I don't have a problem with spending money learning how to trade. I am now a property developer and I regularly read on forums about how Real Estate courses are rip offs and how the same information is contained in books. But sometimes a $5000 course can give just one idea that you might not have picked up in a book that can make you $100,000. 4 years ago my husband did a $3000 property course that everyone thought was a complete rip off. Twelve months later we were able to both quit our day jobs and become full time property developers. None of the ideas in that course were unique, but reading a book would not have had the same impact that the course did.

So I come into this forum with several years' experience in coding and trading systems. The only problem was they were not consistently profitable! (Kind of a big problem really!). My husband and I are now in a position where we want to make some money to supplement our income with a view to having several streams of passive income coming in, in case we want to stop property developing.

My background with Hometrader makes it an obvious choice to go back to. However, it doesn't necessarily mean that it is the BEST choice. So I am keen to hear about other options.

Cheers

Karen
 

Hi Karen,

I second Tech's choice of trading book. Am half way through it and already know that I would be reading it atleast a couple of times. There is a lot there.
Re HT, I have sent you a PM.

Cheers
 
My husband and I are now in a position where we want to make some money to supplement our income with a view to having several streams of passive income coming in, in case we want to stop property developing.
Click to expand...

The problem is simple and one traders have to deal with when a market fails to trend for years on end.

You need to be able to short trade as well as long.
You can trade the XJO through the SPI
Crude
Currencies
Gold
To name a few.
You can even trade the emini's to cut your teeth.

Of course you'll have to re learn what is a profitable method in Futures.
You'll also need a good data supplier for Tick data for testing or shorter timeframe data.

Your overall situation is complex.
I develop myself and trade.
Primary income is my Company.
Passive income when I leave it to staff.
Ever thought of buying a business which you could take a passive role in?

It will take some years to develop your trading business.
 
Re: Anyone done the Home trader Course?


My thought is if any system that can make people lot of money
why the hell do they bother selling it to anyone?
just use it and make easy money

The best system that they came up with guarantee return is the training course and that is their top secret weapon
 
Hi All

Does anyone know what happen to "Home Trader" in Adelaide? They used to have other offices interstate as well. A Google only brings up a phone number & something about making an appointment. They used to be on Greenhill road and ran trading courses.

Thanks for your time.

Regards

Lyndon
 
Hi Lyndon,

I'm reasonably certain that they are no longer in business.

Cheers, Rob
 
myrtie100 said:
Hometrader were bought out by BBY, who then went into administration.
Click to expand...
Hi
OK, thanks for clearing that up. I find it kind of sad. We spent a fair bit of time there and don't believe it was smoke and mirrors. Sadly for us we put our coin in just before the GFC. The system got us out without loosing anymore than our plan allowed for. We have been very slack, as we just gave up after that. Really kicking ourselves as at the least we should have just kept paper trading. Now starting from scratch. Have our old parameters and Hometrader books but it is a LONG TIME ago, so will take us quite sometime to get our heads around it all again.
Thanks again for your reply.
Regards
Lyndon
 
No worries Lyndon.
Take a look at Nick Radge, The Chartist. He trades in the same way and may offer something helpful to get you going again.
All the best.
 
Lyndon said:
cheers
Click to expand...
HI, I joined HomeTrader late in 2005. I think I paid about $5,000 for a full course. I was very impressed, and after the initial course I received free training, orientation and further trading for another 7 years. (I trained again, free, 2011-12..)
Initially I trained in "Share Trading"; only on the 'bull' side; and frankly it turned out to be GREAT. My coach throughout 2006 was Jeff Bryant, a real cantankerous sod, but very good. (He's in Brisbane area now I think; I saw him on Facebook.)
I went live on January 1st 2007, traded for the full year up to about Jan 22, 2008. Around 25th the market went truly south...
During that 12 months odd I 'used' $20,000 and made a profit of about 24%!! I thought that was pretty good, considering half the country lost its trousers, so to speak..
I faithfully and mechanically used the system in 2007; Jeff and I planned and tested it MANY times.
My system 'kicked' me out in January 2008 and would not 'allow' me to reinvest for at least 8 months; the market was so bad..
Then I was a bloody fool and took my money out and did some other bloody silly thing, and lost most of it!
NOW I want to get back into it, since it was about the only profitable business that I had done for 20+ years!
I have FULL records or what I did! But I'm finding it difficult to know how to use it; it was so long ago!
I haven't read all the posts here (I used to be a member), have you seen any useful tips?
 
Ditto, We are in EXACTLY the same boat. We have most if not all our Hometrader paperwork. It is indeed a long time ago. We are quite busy with work commitments so it will take sometime for us to get back into this. We stopped for the same reason, market went south, at the same time my partner had a major accident. So after our system kicking us out we never went back to it. Like you, we are rather pissed off with ourselves! At the least, why didn't we just keep paper trading??????????????????????? Nothing to loose, would have maintained our skills, been even more confident off our systems etc etc.
Well, we can change many things but the past is not one of them.
We are fully committed to get back into trading! That said, it will take time. If I'm honest, it will probably be two years before we trade again. A year to get our heads around all the HT notes etc, another to back test and be confident of what we are doing. If HT started up again tomorrow, with the same platform and ethics, we would most likely sign up again. It would be SO much easier to just go to classes 2 or 3 times a week for 6 months and then be fully back up to speed.
As we relearn our skills I'm happy to pass on what I can.

Regards

Lyndon
 
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