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All you need to know is right HERE on ASF ...... save your cash .
The Sharemarket College
- Thread starter muzzie
- Start date
Perhaps it would be more correct if I said "Doing a course does not make you a good trader".
I know there are some very good organisations with excellent trading courses, but this thread is about the Sharemarket College, and their course is not one of the good ones, in my opinion. The difficulty is in recognising which is which. I have done some fantastic trading courses for which I am very grateful.
I know there are some very good organisations with excellent trading courses, but this thread is about the Sharemarket College, and their course is not one of the good ones, in my opinion. The difficulty is in recognising which is which. I have done some fantastic trading courses for which I am very grateful.
Garpal Gumnut
Ross Island Hotel
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If you think about it , muppets need some direction, but the price seems a bit steep even for muppets.
Say a muppet has a lazy $100,000.
He/she pays $12000 for the course.
There is $88,000 left.
So the muppet has to make over 11% just to break even after one year.
If the muppet only has $50,000 then he starts off with $38,000 after the course. So a profit of about 32% is needed.
Go figure.
gg
Say a muppet has a lazy $100,000.
He/she pays $12000 for the course.
There is $88,000 left.
So the muppet has to make over 11% just to break even after one year.
If the muppet only has $50,000 then he starts off with $38,000 after the course. So a profit of about 32% is needed.
Go figure.
gg
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A good course, whatever that may be, may teach you the basics of trading but it is unlikely to make you a profitable trader after completion. That takes time and experience. Finding out what works for you, and what doesn't. Learning things like how to lose and handle losses. I have yet to see a songle course that teaches you how to lose in the market. It's only by learning how to lose that you'll learn how to win.
If you going to do a course, do one that's from a reputable author that has a lot of good books out there and been around a long time. Names like Jack Schwager, Dr Alexander Elder etc come to mind.
If you going to do a course, do one that's from a reputable author that has a lot of good books out there and been around a long time. Names like Jack Schwager, Dr Alexander Elder etc come to mind.
Hi everyone,
I have just got to let you all know that I have have one of these guys around our house and he gave us his sales pitch.The cost is $15000.
Me and the wife silently shat ourselves so, as not to lead this guy of our horror.
We told him we'd think about it and he rung back today.I have just be come a member of this forum and had a read of this thread.The best mouse click I've ever done on the internet.So I'd like to say THANK YOU! for putting this info out there as you fine people have confirmed to me that this is a huge RIP OFF!!!.
Cheers
Pete
I have just got to let you all know that I have have one of these guys around our house and he gave us his sales pitch.The cost is $15000.
Me and the wife silently shat ourselves so, as not to lead this guy of our horror.
We told him we'd think about it and he rung back today.I have just be come a member of this forum and had a read of this thread.The best mouse click I've ever done on the internet.So I'd like to say THANK YOU! for putting this info out there as you fine people have confirmed to me that this is a huge RIP OFF!!!.
Cheers
Pete
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Perhaps it's just me, but does anyone else find it rather unsettling having John Jarratt as a spruiker for this mob? I'm sure he's a terribly nice bloke but after seeing about 10 minutes of "Wolf Creek" and being physically unable to watch any more of it I really can't look at him the same way again.
I am with you Captain Black. I watched Wolf Creek to the end a few years ago. It affected me for weeks and still does. I will never relate to John Jarrett in the same light ever again and he certainly wouldnt be my choice of actor to promote my services or wares.
However IMO his character in Wolf Creek probably blends rather well with The Share Market College. Maybe that is why they engaged him!
However IMO his character in Wolf Creek probably blends rather well with The Share Market College. Maybe that is why they engaged him!
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The short section I saw part way through made me physically ill and I'm no shrinking violet! I don't "get" that type of movie, sure, people have a right to watch whatever entertains them but I find it repulsive.
Lol! Can't comment on the SMC as I've never had any dealings with them or any other "educator" but it does seem they've made an odd choice with their advertising.
The only thing I will give the movie Wolf Creek is that young travellers should watch it to make them more aware of what can happen (and has happened) when you are foot loose and fancy free. I ensured my teenager watched it, only for this purpose.
As far as SMC are concerned you are lucky Captain Black...Fortunately this forum has assisted a potential John Jarret victim!!! Onya ASF!
As far as SMC are concerned you are lucky Captain Black...Fortunately this forum has assisted a potential John Jarret victim!!! Onya ASF!
Re: The Sharemarket College and Sonray collapse
On the weekend I spoke to a friend who used to be a member of the Sharemarket College. They apparently have some sort of arrangement with Sonray, and pressure their clients strongly to use them as a broker. He became concerned when he realised he did not receive contract notes when he bought equities, or any documentation which stated that he was the legal owner of the shares; whereas in the past when he used Comsec he received contract notes.
He queried this with the Sharemarket College, which was initially not very forthcoming, and it was only because he persisted that they reluctantly sent him a document explaining the nature of the relationship with Sonray. See excerpt below:-
I think that means that although you may have bought shares, they are held in Sonray'sname and you are only "deemed" to own them. Please - anybody - correct me if I am wrong.
Needless to say my friend terminated his membership, moved his shares and is now breathing a long sigh of relief!
The Sharemarket College must now have a lot of very worried clients, all with their accounts frozen!!
I know buyers should always beware, but it seems to me to be deceptive conduct to lead people to believe the shares they bought are in their own name when in fact they are not.
On the weekend I spoke to a friend who used to be a member of the Sharemarket College. They apparently have some sort of arrangement with Sonray, and pressure their clients strongly to use them as a broker. He became concerned when he realised he did not receive contract notes when he bought equities, or any documentation which stated that he was the legal owner of the shares; whereas in the past when he used Comsec he received contract notes.
He queried this with the Sharemarket College, which was initially not very forthcoming, and it was only because he persisted that they reluctantly sent him a document explaining the nature of the relationship with Sonray. See excerpt below:-
I think that means that although you may have bought shares, they are held in Sonray'sname and you are only "deemed" to own them. Please - anybody - correct me if I am wrong.
Needless to say my friend terminated his membership, moved his shares and is now breathing a long sigh of relief!
The Sharemarket College must now have a lot of very worried clients, all with their accounts frozen!!
I know buyers should always beware, but it seems to me to be deceptive conduct to lead people to believe the shares they bought are in their own name when in fact they are not.
tech/a
No Ordinary Duck
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All of those who consider courses.
Ponder this.
There are 1000s of Deli's in Australia.
A few are very profitable.
1000s have Trading "Businesses"
Even less are profitable.
So is it the goods that are traded OR
is it the art of profitable business that
ensures success?
Whats being taught???
My point is most look in the wrong area
for the secret to profits.
Ponder this.
There are 1000s of Deli's in Australia.
A few are very profitable.
1000s have Trading "Businesses"
Even less are profitable.
So is it the goods that are traded OR
is it the art of profitable business that
ensures success?
Whats being taught???
My point is most look in the wrong area
for the secret to profits.
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There are now several threads which relate to The Sharemarket College, Safety In The Market, Hometrader and Global Masters. Reading though these I find some commonalities: some posters recommend and endorse these "market educators", some revile them; some posters have suggested that yet other courses/sources should be considered instead - I know ReefCap and Market Masters have been mentioned favourably.
There is, however, another level of similarity that might be instructive to point out here. In the thread "Hometrader vs SITM etc." (which is still active as of yesterday) 'rookie' wrote (page 1, post #15, 22nd July 2006):
"Just arrived back from another FREE trading seminar. This time it was CMC Markets that introduced the concept of CFD trading to the audience.
To my surprise at the end of the seminar the same guys who tried to sell me some HomeTrader trainings for a couple of $10K got to the stage and said that they have a cheap 1 day course in CFD trading."
It isn't quite clear to me from that if rookie was saying that the Hometrader guys were now working for CMC. Be that as it may, here is the commonality I wish to point out.
The Sharemarket College has several URLs, which, I suppose, merely reflects the diversity of their operations. (Note: I have insufficient posts to be allowed to publish links. If there is any difficulty in accessing these URLS by those who want to I have only to make four more posts and I shall be qualified! and can then edit or repost this.)
www . smctrader.net/public/CFDs
www . sharemarketcollege.com
www . shop.smc.edu.au/index.php?route=common/home
On the other hand, if you play the SMC introductory video that captain black refers to above you will see at 1 minute 15 seconds through to 1 minute 17 seconds some images of "the Sharemarket College team" (to quote the narration at that point). The online team-member who is featured bears a striking resemblance to the market educator who runs Market Insight (www . marketinsight.com.au/profile.php), an organisation which seems to have been moribund since 2008 (click on the Free Articles and Seminars tabs to the left of the screen). There is, however, a link - just below the tabs I just referred to - that should link to the SMC site (link didn't work when last I tried it, but the 'connection' is there).
Moreover there is a similarly strong resemblance between the SMC tutour and the educator who worked with Neil Costa at Market Masters (www . marketmasters.com.au/profiles), and who apparently took over the running of Market Masters some time after Neil's death in 2004 (www . marketinsight.com.au/products.php).
Now both Neil and Jason (of Market Insight) used to work for David Bowden at Safety In The Market, and both were instructed in all the understanding and methodology one buys into when one subscribes to SITM courses.
SITM was sold to, or arranged some licencing agreement with, Hubb Financial around 2000/2001 when David Bowden encountered health problems and effectively retired from teaching. Read the "Meet the Trainers" profiles here (www . hubb.com/retail/default.asp?nav=edu&edu=train) and you will see what I mean.
To bring this post full circle, in 2006 Hubb/SITM were co-sponsors of CMC's inaugural trading competition. Unfortunately, the eventual winner did not appear to be a client of SITM - at least he made no mention of them in his winner's interview.
So . . . all in all, there may not be as much difference between these educator businesses as at first might appear. It is obvious that there is a lot of market "knowledge" that they share, regardless of how they construct and market their courses. I also know of at least one client consultant who now works for GoMarkets who used to work for CMC, which merely indicates that mobility within this industry is not limited to trading knowledge and tactics.
As another poster reminded us recently - it has been said that "Those who can,do, while those who can't, teach". I am glad to find that so many who can also take the time to teach as well!
There is, however, another level of similarity that might be instructive to point out here. In the thread "Hometrader vs SITM etc." (which is still active as of yesterday) 'rookie' wrote (page 1, post #15, 22nd July 2006):
"Just arrived back from another FREE trading seminar. This time it was CMC Markets that introduced the concept of CFD trading to the audience.
To my surprise at the end of the seminar the same guys who tried to sell me some HomeTrader trainings for a couple of $10K got to the stage and said that they have a cheap 1 day course in CFD trading."
It isn't quite clear to me from that if rookie was saying that the Hometrader guys were now working for CMC. Be that as it may, here is the commonality I wish to point out.
The Sharemarket College has several URLs, which, I suppose, merely reflects the diversity of their operations. (Note: I have insufficient posts to be allowed to publish links. If there is any difficulty in accessing these URLS by those who want to I have only to make four more posts and I shall be qualified! and can then edit or repost this.)
www . smctrader.net/public/CFDs
www . sharemarketcollege.com
www . shop.smc.edu.au/index.php?route=common/home
On the other hand, if you play the SMC introductory video that captain black refers to above you will see at 1 minute 15 seconds through to 1 minute 17 seconds some images of "the Sharemarket College team" (to quote the narration at that point). The online team-member who is featured bears a striking resemblance to the market educator who runs Market Insight (www . marketinsight.com.au/profile.php), an organisation which seems to have been moribund since 2008 (click on the Free Articles and Seminars tabs to the left of the screen). There is, however, a link - just below the tabs I just referred to - that should link to the SMC site (link didn't work when last I tried it, but the 'connection' is there).
Moreover there is a similarly strong resemblance between the SMC tutour and the educator who worked with Neil Costa at Market Masters (www . marketmasters.com.au/profiles), and who apparently took over the running of Market Masters some time after Neil's death in 2004 (www . marketinsight.com.au/products.php).
Now both Neil and Jason (of Market Insight) used to work for David Bowden at Safety In The Market, and both were instructed in all the understanding and methodology one buys into when one subscribes to SITM courses.
SITM was sold to, or arranged some licencing agreement with, Hubb Financial around 2000/2001 when David Bowden encountered health problems and effectively retired from teaching. Read the "Meet the Trainers" profiles here (www . hubb.com/retail/default.asp?nav=edu&edu=train) and you will see what I mean.
To bring this post full circle, in 2006 Hubb/SITM were co-sponsors of CMC's inaugural trading competition. Unfortunately, the eventual winner did not appear to be a client of SITM - at least he made no mention of them in his winner's interview.
So . . . all in all, there may not be as much difference between these educator businesses as at first might appear. It is obvious that there is a lot of market "knowledge" that they share, regardless of how they construct and market their courses. I also know of at least one client consultant who now works for GoMarkets who used to work for CMC, which merely indicates that mobility within this industry is not limited to trading knowledge and tactics.
As another poster reminded us recently - it has been said that "Those who can,do, while those who can't, teach". I am glad to find that so many who can also take the time to teach as well!
Artist, how do you know that those who teach DO trade? I know for a fact that one of the educators you mention in your post NEVER trades.
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Ruby,
Some might call it sarcasm, others might call it irony, there may even be a few who call it being careful what one puts in print in a public forum.
Interesting article.......
http://www.businessday.com.au/busin...t-led-investors-to-sonray-20100715-10cnn.html
http://www.businessday.com.au/busin...t-led-investors-to-sonray-20100715-10cnn.html
All clients (or former clients) of Sonray Capital Markets need to be aware that they have until Tuesday 31st August to register with Slater & Gordon for "no win, no fee" class action.
The investigation will focus not only on Sonray and its directors, but also on others who recommended their products and services.
The Sharemarket College falls into this latter category
The investigation will focus not only on Sonray and its directors, but also on others who recommended their products and services.
The Sharemarket College falls into this latter category
Hi.
I attended the Sharemarket College in 2006. I will not give my true thoughts, but will supply the following.
1 I believe it was overvalued when I attended but there is a lot more internet
education through them now.
2 For new students you learn the basics quickly. 6 months
3 Their software is Market Analyser from MDS news.
4 If you trade through their platform, they respect you more.
5 Once you start, they have a program of continual teaching, as they empty
your pocket.
6 The course is based on Alexander Elder's book. "Come into my Trading
Room."
7 With a CFD, I learnt you can protect the value of a portfolio of stocks to a
similar value before the plunge down with one CFD. i.e. By trading the spi
short to the value of the portfolio. The devaluation of the portfolio
goes across to the cfd short. You do not lose or gain.
When the plunge is over, you finalise the cfd and you use that value to buy
up stocks to the total value.
8 If you have two tutiors you will find that one will advocate the proprietary
indicators plus other indicators. The other will say use only proprietary
indicators.
9 Finally, when you start to learn about the maket you can learn for years.
Good trading is forming a plan, utilise it and continually fine tune it.
I started with the college and now use eliott wave and fibonacci.
I no longer use market analyser, as the original software has been patched and patched.
Any software you try must have a paper trading facility and a scanner.
As i run out of puff, up to 10 indicators are all that is necessary. The other 90supplied are sales puff. The secret is to know to use what indicator for what.
Joea
I attended the Sharemarket College in 2006. I will not give my true thoughts, but will supply the following.
1 I believe it was overvalued when I attended but there is a lot more internet
education through them now.
2 For new students you learn the basics quickly. 6 months
3 Their software is Market Analyser from MDS news.
4 If you trade through their platform, they respect you more.
5 Once you start, they have a program of continual teaching, as they empty
your pocket.
6 The course is based on Alexander Elder's book. "Come into my Trading
Room."
7 With a CFD, I learnt you can protect the value of a portfolio of stocks to a
similar value before the plunge down with one CFD. i.e. By trading the spi
short to the value of the portfolio. The devaluation of the portfolio
goes across to the cfd short. You do not lose or gain.
When the plunge is over, you finalise the cfd and you use that value to buy
up stocks to the total value.
8 If you have two tutiors you will find that one will advocate the proprietary
indicators plus other indicators. The other will say use only proprietary
indicators.
9 Finally, when you start to learn about the maket you can learn for years.
Good trading is forming a plan, utilise it and continually fine tune it.
I started with the college and now use eliott wave and fibonacci.
I no longer use market analyser, as the original software has been patched and patched.
Any software you try must have a paper trading facility and a scanner.
As i run out of puff, up to 10 indicators are all that is necessary. The other 90supplied are sales puff. The secret is to know to use what indicator for what.
Joea
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I have to agree with OCSUM - these guys are a total rip off. You can find the information they teach, free on the internet and as far as support - there is none !
Don't believe the sales pitch I would be $15,000 better off if I had of read this forum first.
Don't believe the sales pitch I would be $15,000 better off if I had of read this forum first.
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