Hi,
I am considering to attend Greg Seckers Traders’ University. I would like to know whether their strategies work.
Before posting this question, I went to many sites and read the review.
Most the comments were like “It didn’t work” / “I lost my money”. I am interested to know what didn’t work for you? How you lost most? What did they promise? Did you do the same as they asked you do so?
So when you reply to my post please be specific to your comments. Explain it in detail.
Thanks,
Raj
I’ve never heard of Traders University, but I can tell you right now that if the price is anything near $1000 or more, don’t even bother. That money is much better spent funding a micro account as soon as you feel comfortable going live.
It really is mostly down to the individual, determination, time, patience and you can’t buy those.
I attended both the stock course and the Forex
I suggest you try to choose which best suits your style, as one will be money wasted, Traders Uni are true in what they say, only 10% ( I think 1%) of the
class will succeed at this. it is complex and takes full time commitment
The problem with Action to Knowledge is that it is a machine
there is no back up, try and get anyone within the company to be accountable, let alone answer your calls/emails, They have a PR person I have emailed and left messages for, I wonder if she exists.
coaches are hard to book (and overly expensive)
which they pressure you to have
Be aware of throwing more money at them (which, again they pressure you to do) either you get it or you don’t!
I challenge their honesty, as I personally know of the posting’s they do on utube are dishonest, as in if a graduate makes money, the don’t care about the risk to reward they preach, but will promote that person as one of their success’s,
only for that person to take months more of trading to start making money if at all
Guys the UK Financial Services Authority (the UK government regulator) has issued an alert about Knowledge to Action saying they are not regulated and are targeting UK investors.
Its one thing for a bunch of guys on the internet to say something is a scam its a totally different thing to actually get an official alert about a company.
I don’t think any of the pay for information services these days are worth their money. You have to trade YOUR way, not someone else’s way. It’s the only way you’ll feel comfortable in trading. I never spent money on these things; free forums like this one are all you really need. Intelligent discussion and trial and error will teach you more than sitting through recorded lectures at $50/hour, or in most cases more.
I agree, there is zero chance that someone can learn to trade based on a 2 day weekend course, sadly though plenty of people do pay for this type of thing despite all the warning signs.
Hi,
any chance you kep a copy of this documents you can send me. Thanks
If you mean the FSA doc that PriceActionSR posted, s/he has not been active for nearly two years, so I’d suggest that Google would be your best bet, this is covered in a few places.
K2A are very expensive but they dont fool people into thinking its a get rich quick scheme, and they always stress you should risk 1-2% of your account size per trade.if people pay heed to their words they should be ok. only a fool would leave that course thinking their set for life and can watch the money roll in.
steverichards25
Agreed. If you follow a few simple rules you should do well.
This thread helped.
Thanks!
Any half decent instructor/tutor/coach (call them what you will) never makes promises about future profits or earnings. What they will, or should do is conduct a proper assessment of the pupil to determine if they’re equipped with even the basic minimum requirements necessary to absorb, process & implement the information & material they are seeking to impart. They will then form an on-going relationship with the student to ensure the content is being absorbed & applied correctly.
If there’s a conflict or imbalance at the very start of the potential business relationship then the journey is going to be fraught with problems & pitfalls from either side & a good instuctor will usually be honest enough to cut ties there & then as they’re not in the habit of wasting their time on the wrong candidates.
I paid for tuition over 11 years ago from Jimmy Young. It was by no means expensive, certainly not for what I received, but on hindsight what it saved me was an enormous amount of wasted time & effort, especially when I browse & read the constant struggles & frustrations being played out on boards such as this.
I knew next to nothing at the time. I was fresh out of college, interested in finance/economics & was actually recommended to Jim by an acquaintance of my late father who had worked with him in his various IB roles twice over a 15 year period.
I started a live account in month 2, lost money in months 3,4 & 5 & flipped it into profit half way through month 6. For the remainder of that year he taught 2 more strategies & I was closely associated with him until month 15.
I enquired about learning an associated instrument that he didn’t really cover (due to time constraints), but kindly referred me to an ex-colleague who put me through the above filtering process to ensure he wasn’t wasting his valuable time or my hard earned money.
I still occasionally speak with Jim (have always had his office/home telephone number) & have sat in on a few of his live training gigs over the past 5 years when he or I have been in the same part of the world.
I also still to this day trade only the first 2 strategies he taught me. I’ve never had the need to use anything else.
Can you succeed by simply reading, studying & implementing material sourced by yourself on the internet? Sure you can, providing you’re a very highly focused, switched on individual who knows which material to focus on & which to avoid like the plague. And even more important, which information & approach to use in specific market conditions & how to quickly identify the particular phase to apply it to.
If you’re fortunate enough to find the right person/firm who can provide you with the appropriate information to apply correctly in very specific market conditions it’s worth the weight in gold, if only for the vast amount of time, money & psychological damage you’ll save yourself absorbing well meaning, but sub-par material from anonymous forum contributors.
Is one of those strategies his volatility bands by any chance?
A guy I worked with in 2008/9 was using them & I was intrigued.
Obviously, he refused point blank to provide me with the input parameters lol, & he only used them with a log grid in tandem with certain US, AUD & JPY data release consensus/actual numbers, but his performance figures were always consistent & very impressive.
The whole time I worked there he was a top quartile performer.
On the purely intra-day stuff it is yes.
You have to be patient & selective when applying them these days, & of course the parameter inputs need to be regularly adjusted, but that’s the benefit of keeping precise & accurate records.
They remain a very powerful technical tool when applied alongside the drivers that influence market momentum.
As evidenced by your former colleague, they continue to respond very effectively to specific trading conditions on particular currency pairs, which is the whole point of using them selectively.
Like anything else that cultivates & generates an edge, the real benefit & true value is not only in identifying the higher probability background structure to bring them into play, but knowing when to apply them for maximum effect.
Smart man.
I agree, & right there is the true value.
Providing you take the time to identify the genuine offerings & it’s a mutually beneficial arrangement, the benefits of short circuiting all the impersonal time wasting trial & error slog heavily outweighs the cost of access.
As you’ve discovered, the progress is usually way faster, much less stressful & based on firmer foundations than the DIY route.
There’s another guy on here goes by the username of Simon Templar who I’m sure will confirm a similar view.
The biggest benefit of taking your route however, is not having to fight your way through all the nonsense & bindweed that strangles the life out of these joints.
personally, I don’t think these school are a need. If you can learn by yourself, you can do it here or buy the book and learn. They would teach you strategy, but they don’t teach you how to make it works and make money. If their strategy can make money, why would they spend time to teach?
