I recently became aware of Knowledge to Action's (www.knowledgetoaction.com), Greg Secker's company which offers the apparently award winning "Trader's University" Course. This is an equity trading course that promises just 1% downside risk (per trade... but over a few days you could lose all of your money by trading equity or forex, so be careful) The award is by the Business Britain Magazine for the #1 Trader Coaching Company. Mmhhh. Who is this famous, "Business Britain Magazine and what are their awards worth??
So, is there a scam in this equity trading course?
Well it didn't take me long to find out that a competing course, Win Investing (www.wininvesting.com) run by Darren Winter, is ALSO an award winning course.. but this time for "Best Investment Training Course", still by the same Business Britain Magazine.
So - how can both competing courses be Award-winning? If I created an investment, forex or equity trading, or spread betting course tomorrow, and made the necessary arrangements with Business Britain (maybe a payment?), would my course also be award winning?
Maybe. So is their a scam running on these investment and equity trading courses, or are they perfectly legal and fair? Is their advertising overly aggressive?
Both of these companies use "free seminars" that promised to teach you some untold secrets about trading equity to wealth in just 2 hours, with no hard sell. I have spoken to someone who went on the KnowledgetoAction seminar and it seems that this is far from the truth. Whilst the seminars are at best, informative, they do not really have much of substance. The "secrets" are only partially revealed - enough to get you salivating for more but certainly not enough to get you share trading. And certainly, there is no concrete evidence that trading equity with these methods will make you more money that it will lose you.
Plenty of testimonials were given of people who had been on the traders university course at knowledgetoaction, and they had all, conveniently, made money. Those who had lost their money would not have been asked for their testimonial I presume.
If you sign up for a course, you won't notice this, but you will be signing not just a payment slip for the payment of the course but also a CONTRACT with 10 clauses to it. This contract is the small print which is on the back of the form that you are signing. Because your form is attached to a clipboard, you probably won't even know that it has this smallprint contract on it! And clause 3 states that you agree to a £500 non-refundable fee being applied if you cancel - even if you change your mind just a few hours later!!
Is this illegal? Can knowledgetoaction and Greg Secker's trader's university hold back my refund or is this a con?
Well, there are a number of regulations in place that would suggest that this is not legal. For instance,
The "Unfair terms in consumer contract regulations" state that unfair terms cannot be entered in a contract if this would put the consumer at a disadvantage. Knowledgetoaction are claiming that £500 is not unfair, but to me, a 25% penalty for cancelling just a few hours later seems very unfair. I wouldn't go as far as saying it is a scam, but I would certainly be questioning the legality of it.
Are there any other laws that might prohibit knowledge2action from doing this to people who sign up to their traders university course?
There are.
As with distance selling, there is a law that gives the consumer a cooling off period when purchasing a good or service in a place that is not the trader's usual place of business. The regulation is "The Cancellation of contracts made in a consumer's home or place of work, etc..". This regulation gives the consumer 7 days to cancel their purchase if they change their mind for whatever reason. -irrespective of what it says in the contract.
Does Greg Secker know this? What happens when you contact knowledgetoaction to complain about your refund?
Apparently, knowledgetoaction will plainly refuse to issue a full refund, stating that their terms and conditions plainly state that you have agreed to the £500 penalty. If you push them a little more, they will just keep saying this over and over again like a broken record. Good old fashioned British customer service has gone out of the window and has been replaced by what really feels like a money-making operation that considers fairness to have no value.
Are there other laws that might protect me from knowledgetoaction's "scam", "con", or "terms and conditions" ?
There are. The company could be accused of taking part in Aggressive Commercial Practice when they pressured you into signing up for the course by telling you that you would never get that special price again. But this is not true, in fact, you could get that price again just by attending another seminar.
So what can you do if Knowledge to Action, Greg Secker, The Trader's University, have treated you unfairly, if you feel you fell for a con, a scam?
Well, you could phone them up first and try to settle it directly with KnowledgetoAction, but this might be difficult.
Next, you could contact your credit card company to ask for a chargeback of the amount that you paid, stating your reason.
Then you could contact the Office of Fair Trade and Consumer Direct. They will be able to advice you with the steps to take.
It seems that Knowledgetoaction are not afraid of legal action, they have probably had this kind of problem before and they possibly have a whole team of lawyers ready to scare you if you try to get your money back. But if you feel that they don't deserve your money, you should definitely give it a go. There are plenty of regulations that back you up. And the only way of knowing if this is indeed a scam, would be to go all the way.
Please let us know your opinion and experience with knowledgetoaction, the trader's university, and Greg Secker's course. This blog is open to all and we are trying to get a balanced discussion on the subject. No posts will be deleted as long as they are deemed genuine and truthful.
You are welcome to copy this article in its entirety and post it on your own blog.
Iñaki Frias, ROUSAUD COSTAS DURAN SLP, Secured Assets SL
Hi
ReplyDeleteJust read your blog on Knowledge to Action. Very good information.
My brother and I had signed up for the course after attending a free seminar, a few days ago.(27/01/09) The following day something got me thinking about it, like it just seemed to good.
I looked at the deposit sheet we got and as we were never told about the refund conditions I turned it over and in very faint print, read section 2.3. None-refundable deposit.
I called The office of fair trading and explained the whole situation. They told me exactly what to write in a letter to ask for the deposits back, as they said that in England no matter what it says on the form, everyone has 7 days to ask for a full refund. The person stressed that it is law, and the company has to give you a full refund.
If anyone needs a copy of what needs to be put in the letter then I will be happy to tell you.
I am now waiting as I sent the letter today and as I only paid the deposit 2 days ago.
Ian
Yeah, I'm having the same problem. Could you tell me what you had to do and who you wrote to?
ReplyDeleteirishplan22@hotmail.com
Hi i have attended a free seminar on 21/03/2009. I was offerd the application form but the guy said I have to feel/sign it up on the spot or we take the form from You.They don't want people to take forms home and read them carefuly.They offered a 1 grand discount for a promise to give them Your trading history for 6 months after the course so people would fell easyer for signing up.
ReplyDeleteHello,
ReplyDeleteI have recently attend to one of these free seminars, and they near catch me. Their selling practices were really hard. And today the have phone me, I was at work so I do not know what they wanted, but they will call again. I will keep you informed.
Any way I would like to know if they offer something real or is really an scam?, because I would like to learn what they promise at the seminar.
Hello everyone
ReplyDeleteIIan here, the guy who posted a commment at the top and contacted the Office of Fair Trading. Well after writing off to them I did get my full deposit back. In the letter I gave them 10 day to pay up or I would pass on all the information to the Office of Fair Trading. 11 days later and a another letter sent alwasy by registered post I got all the money and no moans or groans from them.
Everyone just remember that YOU do have the law on your side.
This blog is excllent! I thought there was something not quote right about the whole approach of Knowledge to Action.
ReplyDeleteIf you really want to learn to trade - do the research yourself on the web, looking for a technical approaches. E.g. using various indicators like trend lines, oscillators (RSI, MACD), lines of support/ resistance, fibonacci trace backs etc. then use demo accounts to trade for at least 6 months risk free to get a feel for what works for you. Keep your head in the finacial news - e.g. Bloomberg/ Reuters.
Question is... if their trading strategies are so good, why sell the secrets? Surely, the opportunity cost of trying to get people to sign up to a course is higher than executing a successful trading strategy?? The truth is, Knowledge to Action make money by selling something with zero risk. What is the cost of sales for knowledge? Zero... it's all profit, no risk. Not only that, they probably get sales commission for introducing you as a trader to their broker network, or selling trading software or a market data subscription.
There is NO QUICK AND EASY WAY. You can't just spend 30min per day to trade well... if you're that good you should work for a bank! A good trader is able to anticipate market movements ahead of time or react very quickly, before the masses take away any opportunities. It's you vs. all the other traders - end of!
I attended a 2 hour intro on Friday 27th March on FX.After a i hour high pressure sale (was told we would see live trading to get us there at their so called trading room) we were asked, who wants to learn to make money put up tour hands.The rest of yo can leave and don`t come back.As this was done at their business address.does the refind in 7 days not apply. ie the real reason to get us there? The women conducting the meeting was a so called FX trader expert but did not know what she was talking about.I promptly left with a number of other people.
ReplyDeleteHi all.
ReplyDeleteAccording to The Office of Fair Trading, if you sign up on their actual premises then they do have firmer ground to fight to keep YOUR money, but as long as you ask for your money within 7 days of paying then by law they cannot refuse to give you your money back. If anyone wants to know the exact terminology to use in the a letter asking for your money back then just reply to this and I will post it for you.
Hi There,
ReplyDeleteDoes anybody knows what I should do if I dont want to attend the course and dont want them to charge me? Is there any legal way after the 7 days to avoid making the full payment (even if I loose my initial deposit)?
they tried to charge my credit card but they couldnt charge me but I received an email from them saying that they are going to charge me interest?
Regards,
Dinos
Hi
ReplyDeleteI do believe they are trying to scare you by threatening you with interest being added on, Who are they, a secret bank?
The Office of Fair Trading will be very interested in the tactics that they are using on you.
Tell you bank under no circumstances are they to be paid, then contact the Office of Fair Trading and tell then EXACTLY what is happening.
It is illigal what they are trying.
Is there anyone out there who has done the course?
ReplyDeleteHi There,
ReplyDeleteThey want me to come in an arrangement with them and pay the for the course even if I dont attend, I think this isnt fair, I dont think that any consumer has to pay for something that they decided is not for them.
I'll keep you posted with any new developments.
Dinos
That's funny, them trying to get you to come to some arrangement. That arrangement will be to their benefit not yours. Do not arrange anything. Keep all corospondance and make copies, as emails are legal in the eyes of the law.
ReplyDeleteI am not advercating any courses, but I am having success with a system by a guy called Guy Cohen. It is called Flag trading - http://www.guycohen.com/us/cmd.asp?af=992188
Do a review on him from google. He also has 3 books on amazon.co.uk Publshed by the FT.
Or just sogn up for his free newsletter, you get free videos, articles. http://www.flag-trader.com
The vdeos on Video Alert are great and very informative.
Kind regards
Hi Ian,
ReplyDeleteYou say that you are not advocating any courses... and then you give the URL for a trading course of which you are an affiliate (we can see this by the af=992188 in the URL) - so if we sign up, you would make a commission.
The course might still be good, but I'm just saying that we can't take your comments as being unbiased.
Take it as you want. I do know what an affilate link is as IT is my business.
ReplyDeleteLike I said, do a Google on the guy, do your homework and make a decison from there.
All I know is that it is working for me.
Hello,
ReplyDeleteWao, I was quite astonished by all the bloggs I read above. I went recently to one of the 'knowledge to Action Trader' seminar. I did not sign up because I thought it was too good to be true. I said if I have discovered the secret of trading, I will not sell it to anyone. I rather make money from it than doing some hard selling at seminars.
I would really like to know if anyone has attended the training and what was the result. I would be very pleased to know of their success rate.
Thanks.
Hi everyone.
ReplyDeleteI signed up for the course and then cancelled 5 days later. Thanks to the help on this post, with a correctly prepared letter, K2A finally agreed to refund my £500. I also threatened Watchdog if they didnt pay up and that seemed to help!
Dont let these crooks get away with it.
I have booked to go on a free 'Traders Secrets' seminar tonight. However, after reading this blog I am not so sure it is a good idea. Like the previous entries, I would be really keen to know the outcome of anyone having attended the paid for training course. Anyone?
ReplyDeleteASK YOURSELF THIS QUESTION - WHY WOULD ANYONE WANT TO GO TO THE BOTHER OF ARRANGING SEMINARS AND TRYING THE HARD SELL IF THEY WERE SUCCESSFUL TRADERS?
ReplyDeleteWent to there seminar and found it an eye opener, and afterwards a complete waste of an evening. A very high pressure, unprofessional outfit, who cannot back up their claims. Don't believe the hype! IF IT SEEMS TO BE TO GOOD TO BE TRUE IT IS.
STAY WELL AWAY
Dear all,
ReplyDeleteVery interesting article - thank you for posting and thank you to all the kind people who have taken the time to comment.
Here are a few words from me to you all as I'd like to give something back. I hope you find this useful.
Despite the lack of drinking water and some luxury chockie bickies, I found that this was a great FREE introduction to this 'award winning course'.
Throughly enjoyed the enthusiasm of the presenter and the assistants were extremely polite, and seemed to be very genuine, obviously when you attend you may not have the same experience, but I certainly enjoyed myself and picked up a few tips.
The good news is, if you're looking for a get rich scheme then this it! The bad news is the owner has beaten you to it! Needless to say I didn't and wouldn't part with my hard earned cash, even if they dropped the price significantly.
If you decide to 'invest', then be prepared to stump up a couple of K's for the course and make sure you have about 5k to invest - at the very least, anything less and your chances of blowing-out your account are too great.
Hmm.. did I just say "Invest" A bit of a loose term in this context, as this is all about spread-betting, it's more akin to yes you guessed it, gambling, masked as betting with a strategy. Some you win, some you lose and some more you win, or at least that's the theory, but don't become too attached to your investment, you could easily lose the lot. But remember that's true with businesses, and trading the real stock market. There's ALWAYS an element of risk and you could ALWAYS lose the lot. You have to speculate to accumulate.
If you're a risk taker and willing to risk life savings or a proportion of them, then this might be suitable for you - at least attend the free seminar, but go objectively and cut through the hype, I'd hate to know that someone is out of pocket after having made a. wrong choice and b. some bad investment decisions when putting theory into practice.
Remember, there are no guarantees with this, just the guarantee that you could learn some new skills that might help you earn money as a secondary income.
I have no doubt that there are some very successful students that have 'graduated' (jeee that term sounds cheap too! I know how hard I studied for my proper university graduation!) but I think the coaches are in a league of their own.
The use of 'University' is a bit of a cheap shot and disrespects academic institutions that give people real degrees, but is this a degree you want or a way to make money? Trading College doesn't have the same authenticity I guess. Hmm. Also as mentioned previously. Award winning? Maybe so, but come-on!
So for those uncertain peeps, questioning should I stay or should I go, the very fact that you're asking this question means STAY! Don't invest a dime; in terms of time or money.
But if that's not justified, here are some more reasons when to run for the hills:
1. If you don't like the idea of gambling. No matter how they market this, it is gambling - it's even acknowledged by government as gambling, hence no need to pay capital gains tax or stamp duty.
2. If you think you're going to become a millionaire shortly after you get your account configured - think again
3. If you're either greedy or fearful, you'll be.... Well not exactly quids in.
And proceed with caution if...
1. You've got enough funding and see this as a bit of entertainment
2. You enjoy taking risks
3. You live each day as it comes and don't worry too much about the consequences of your actions
4. Happy to sign up for a course with out having any time to think about it
5. Don't mind adding to Greg's wealth whilst potentially minimising yours
All in all, interesting company that will MAKE some people and BREAK others.
Are you brave enough? I know I'm certainly not!
Cheers and good luck, what ever you decide.
God bless!
Hey, great last comment!!
ReplyDeleteBut personally I would prefer to run a business that I understand and can "control" more than running a spread-betting strategy that can just as easily go against you than with you. It could take £10,000 of losses before you finally work out that your strategy is not working!
i attended the forex course in March and thought it was very good although there was intense pressure to buy further training and mentoring. however i have been making a 10% return on my capital per month since then and have paid for the course and equates to about 15 minutes work per day so i would recoomend it but only to people who do what you are told to do on the course and who can afford to risk losing money as that will always happen with trading but if you are consistent you can make steady gains.
ReplyDeleteReal money is being made every day on the Forex and Stock markets! It is the only game in town apart from a Job! Learn to trade and then get better at it!
ReplyDeleteSure, there is real money to be made. But there is also real money to be lost.
ReplyDeleteThere are plenty of professionals out there. Banks, brokers, etc... with plenty of experience.
How is a week-long course going to allow anyone to compete with these guys?
For every winner in spread-betting, there has to be a loser.
If knowledgetoaction have such a great system, why are they training people to use it? Surely this would mean that their own traders will have more competition?!!! ... or maybe they make more money from the courses than from actual trading.
You guys sound like a bunch of losers and I bet you all have 9 to 5 jobs, yes you can win and yes you can lose, but if you want to succeed then you will, not in 20 minutes a day as some may have you believe but you will be succesfull over time, stop bitching and start to focus your energy on what YOU want to achieve in life??
ReplyDeleteTypical. Big guy spouts his mouth but leaves his name as anonymous.
ReplyDeleteHi Ian I have just signed up for aKnowledge to action two day course on the 17/06/09 but would like to change my mind and get a refund could you send me the information you sent in your letter to get a refund please.
ReplyDeleteHi Frank,
ReplyDeleteThere is a whole post on this blog about what to write in the letter.. make sure you read all the posts as each one has something useful.
The one with a sample letter is
http://knowledgetoaction.blogspot.com/2009_03_01_archive.html
You should be able to get your money back, no problem! Other people have!
Make sure you come back to write about your experience and help others!
Hello Frank
ReplyDeleteSorry for not getting back, very busy.
You have the law on your side if you act within 7 days of placing the deposit. That actually means that if you send the letter as a registered letter on the 7th day then it is still within the law.It counts within the 7 day ruling, even if they get the letter on the 8th day.
As a heading and inside the body of your letter, add this:
Under the Doorstep Selling Consumer Protection Regulation, I have the right according to the Cancellation of Contract Away From Business Premises Regulations to ask for a full refund.
After that you can write anything you like.
Kind regards
what they 'promise' for the results of attending a free seminar is a bloody lie. I attended the course, and find out it's a blood-sucking business. You pay for more than 2k for this course and you are expected to sign up master course or forex course each will cost more than 5k. What is more.
ReplyDeleteYou are told off not signing up for using ADVFN/ Sharescope and not opening account with MF Global where they collect their commisions from. They excuse their stargeties can only work under those platforms.
3 coaching sessions valid within two months. By the time you were notified who your coach was, there were only 7 dates (out of 2 months) available! whatis worse. you write to your client service. Never get a reply. Anything against K2A, you will never get a reply. Any profit you can bring them, you will get special care.
Advance trading consultants, Adam and Carla use the word 'vouch' to deceive you when you want to cancel your course within that 7 days period. Well, they drag you into the trap. After you attended the course, there is no support afterwards. Bye. Bye. K2A has got your money. You eithor die or live.
When did you attend the course? I was supposed to attend it last weekend but decided against it a few weeks before and told them i wanted a cancellation. I hadn't paid anything, i said i had to transfer money to my account for the deposit so this was never taken. They didn't let it go though, constant phone calls from some guy, Mark i think, trying to get me to come in and see the live trading floor and wouldn't take no for an answer. Emails were ignored. Just told him no i am not interested and leave it at that. Eventually he stopped breathing and shut up. I shouldn't have been so blind in the first place to sign up but the next day i thought things through and realized. Glad i didn't waste 2.5k on the course!
ReplyDeleteI have just comeback from a free 2 hour seminar.
ReplyDeleteYes it's the usual hard sell and sign today and we will knock off £1k etc etc. and yes they probably do get kick back commissions from the brokers etc.
But what i want to know is whether anyone has actually signed up and done the 2 day course and is it any good ? are they making money
A question for anyone on this forum who was surprised that the 2 hr free seminar had a sales agenda - What planet are you living on? Of course it has a sales agenda! That is how business works. Every company has a sales aspect to it. No one is going to give anything away for free! It just doesn't make sense - Duh!
ReplyDeleteIan get a life. You have never even been on the course. You guys on these site are completely pathetic. Either you believe you can make money or not from trading. If you don't, then don't waste your time going to free seminars.
ReplyDeleteWhy are you all so against other people making money?
It's amazing that those who post comments with derogatory remarks always seem to pose as anonymous.
ReplyDeleteSad!
I totally agree with you Ian!
ReplyDeleteWhat's more, we're not discussing whether or not money can be made from trading. It can. but it can also be lost.
What we're discussing, is that the "trader's university" is scammy.
They promise to reveal secrets in the free seminar, but they don't. Then they have a very hard sell. They promise "easy returns" if you follow their system, which, after talking to a guy who got into trading using some of these methods, aren't that easy...
AND, most importantly, they try to trick people by asking for money upfront and then refusing to pay out refunds -despite their legal obligation to do so!
Who's making the real money here - the student/trader, or Greg Secker's trader's university? I'm sure it's the latter!!!
So whether or not their course might be "good", it is still a scammy company that I wouldn't want to be associated with.
I attended the free seminar yesterday (04.07.09) and whilst sceptical about signing some aspects of what was on offer seemed useful to someone not familiar with trading.
ReplyDeleteI was hoping to find comments from people who had actually paid to do the 2 day course but have not found any on the web. The main thread here is from people who paid on the day and then decided this was not for them (anom please dont respond by telling me to get a life as its not very helpful)
Rick read Jean 24 June above.
ReplyDeleteCan anyone tell me how I can get my £500 deposit back I signed up on the 11th June and then cancelled on the 16th June, but they quote the contarct. Any help please. Cheers Dave
ReplyDeleteHi Dave
ReplyDeleteYou have the law on your side if you act within 7 days of placing the deposit. If you are going to write a letter add this:-
Under the Doorstep Selling Consumer Protection Regulation, I have the right according to the Cancellation of Contract Away From Business Premises Regulations to ask for a full refund.
Then add what every you want.
This is what The Office of Fair Trading told me to write. I actually got my full deposit back.
I would like to advise anyone considering doing the Tradersuniversity Course, to immediately cancel, and get your money back. I have attended the 2 hour free seminar, the weekend resindential and indeed a further course called "MasterTrader". I have followed the rules, as given by Greg Secker himself. Perhaps the TradersUniversity trading rules work in long term trending markets, (2002-2007) but for now, with markets all over the place and one piece of bad news sending the market crashing, its not the time. You can learn what I was tight from a book also. It much cheaper than the 5000 pounds I spent in total. I have lost about 2000 pounds in addition to this 5000 in current market conditions. I also had a colleague who lost 10000 pounds following the TradersUniversity rules. He decided to question the testimonials on thier web site and also the ones given one we eventually signed up. He received no reply from anyone at TraderUniversity. He still hasn't to this day. Decide yourself, but you have been warned!!
ReplyDeleteExcellent blog! I seem to have landed on their email list, the latest today from this crowd. I also got a £4000 Apprentice course 'offer' from Darren Winters of WIN Investing- http://www.insolvencynews.com/article/WIN-Investing-to-enter-voluntary-arrangement
ReplyDeletenow the company is called 'Wealth Training Company' at the same address. My question is, If he is so good at trading why is he running courses and going insolvent? It does not take much google searching to see through these scams. Well done on this post.
How about getting all your mates to sign up for these free seminars and no turning up :-)
ReplyDeleteYeah, great idea.... let's all get our mates to keep signing up for thee free seminars and never turning up!!!
ReplyDeleteCan somebody who has finished the course please let the rest of us know if it is any good..could it maybe be useful to any starting out in the stock market..
ReplyDeleteto those who want to get refund from Greg Secker: you have right to cooling off period, which is 7 days if you booked in a hotel or anywhere, which is not office premises. If they dont give refund to you within 30 days (legal requirement) you can take them to court and you are guaranteed to win and they will have to pay all your costs. if you complain to trading standards, they have power to shut down the company who have unfair terms.
ReplyDeleteIn May I paid over £3000 for a course which I am due to attend shortly. If I cancel now will I lose all of my money or just £500. Reading the small print on the back of the invoice is very confusing.
ReplyDeleteUnfortunately, it has taken me too long to discover this blog. I had paid almost £2300 for the course. Since then, I have had a chance to think about and have decided I don't want to go ahead with it. However, because I am now past the 7 days cooling off period, I am stuck and cannot cancel with a refund. Can anyone give me any advice??
ReplyDeleteThis is an excellent blog site on this subject. However allthough it is abudantly evident that Greg Secker has employed underhanded tactics in order to aquire students for his so called "university"; perhaps we should shift the focus to the question of Knowledge to action? Knowledge is power! So my question is, is the 2.5k you pay for this course worth the general knowledge aquired? Essentially there are two core problems here, the fact that getting a refund is unjustly difficult and the fact that, tried and tested the winning system which they catigorically swear by may not work. I have recently attended a seminar and as a novice trader inevatably found it informative, i then took it uppon myself to research the site and claims and stumbbled uppon this blog site. they quote albert einstein in the seminar stating that to invent is tasking but to copy is genius lol. Obviously this is only the case if what you are copying is successful! Ultimately in my humble opinion a good trader is a good trader and instead of going to discover a winning system apply your own method of trading with the techniques, indicators and phylosophy you learn. or just dont sign up, i know i wont be (better to be safe than sorry). Remember people with the hunger for money in todays financial climate always think before you buy and try and keep the blogs clean, some people give anonymous a bad name lol goodbye and GOD Bless...........
ReplyDeletePlease..could somebody who has attended to course, not just the seminar, the course. please let everybody else know how it went and if you learned anythng usefull that you can maybe build on urself, with the use of books, internet and so on...
ReplyDeleteIf you are a complete beginner at trading then this is a good course to take, but you want to make sure you get a good teacher - as there are several. I did the course back in January and have been trading stocks end of day ever since - I have lost money and I have made money and at the moment I am about break even. End of day trading will not make you rich - but its a good place to start to learn how to trade. I have found the additional coaching and crewing down at the courses on weekends very beneficial. I am due to do the forex course in September which I think will be the money make for me. Yes this company has a hard sales side to it and what upsets me is the people selling the products dont actually trade themselves - but if you ignore the sales side of it and get involved with the people that actually do trade in the company then this could work for you.
ReplyDeleteHi I attended the 2 day course. And if you are thinking about starting to trade don't let anyone talk you out of it. I am looking into the daytrading for I while now and this course answered most of my questions. As a baby u have to learn to crawl and then walk. This is basic course that will explain basics from scratch. At the end you will be able to pick and place a trade with cofidence and they will offer you special prices for advanced courses at the end. If you take it, that is your decission. I was plesently supprised how many people were in the room. BTW it is foreign friedly. Is it worth the money? Only time will tell, but the knowledge you will gain in those 2 days and the support after, definitely. Sorry about the mistakes.
ReplyDeleteWhen you are going to be sighning for the course read carefully what are u signing so you are aware of what is in it.
im attending the two day course on the 21st aug, ill post back in november to let you know how ive got on - ill let everyone know the honest truth so nobody has to worry about who to believe. "if your life isnt about making the lives of others better then your wasting your time" - Will Smith. ill be doing just that in november on this blog. dj
ReplyDeleteI signed on for the course at their premises but now want to cancel - please help!
ReplyDeleteHi I attended their 2 day course last year and have since attended their Fx course. I have now quit my my job and trade full time. However be warned this IS NOT an easy process, it helps if your like me and are totally addicted to trading and learning strategies. I now mainly traded the Forex using chaos theory and fractual geometry. My advice is before doing the course spend some time researching trading techniques,and espeically the physcological side(which is where most traders fail).
ReplyDeleteWATCH OUT with the comments saying the course is great and how helpful they were etc.
ReplyDeleteI went on the course and although they did teach some spread-betting strategies, these are not SECRETS. They are the same strategies which are talked about in many spread-betting books and a large number of forums etc.
For the cost, the course is certainly too expensive. Add to that the hard sell to join the next course (which is far more expensive but promises so much more - but hang on, didn't we hear all of these promises for just the first course??)
Also, even though you follow the techniques, you can still lose a lot of money. Ideally you want to have an income other than trading so that you don't rely on this as a consistent money-maker. this is why these guys offer the course.. because they don't make that much money trading!!
Did you read the article about WinInvesting (a similar company run by Darren Winter) declaring itself BANKRUPT ?? What went wrong, didn't they follow their own infallible trading strategies?
Be careful before committing so much money to this course. 2,000pounds can give you a lot of practice time if you learn the same strategies from a book or online !
I just signed up for the 2 day course being held in Australia in September. While I didn't like the obviously transparent hard sell techniques (heavily dicounted offer from "full price", limited time to sign up, sales pitch stressing huge $$ profits and minimum risk, etc, etc) the pitch still appealed to me for the following reasons:-
ReplyDeleteI am currently a successful part time, end-of-day trader, having turned A$10000 into over $300 000 in a few years on the Aussie stock index (SPI)
Secker's trading philosophy is identical to mine
His methodology in forex is along the same principles as those I currently use in my trading
If he presents the course in the way described, I am confident that I can make money - if I don't it will be because his systems have been misrepresented, so there are remedies for me to get a refund from the local promoter under Australian law
But I doubt that will be an issue.
Many legitimate commodity trading trainers charge exhorbitant fees. It dissuades the tire-kickers. But it only takes a few good trades (or less) to cover the cost. And if it ends up being a scam, the cost is equivalent to one bad trade in my current trading system!
I'll repost in a month with a more educated opinion!
By the way, I have spent several thousand dollars over the years on trading seminars by traders such as Larry Williams, Jake Bernstein and Ray Barros. Almost $20,000. Each seminar has contributed knowledge that has helped my trading account grow by several hundred thousand dollars since attending.
ReplyDeleteHopefully this will accelerate that growth. As I said earlier, if not, the cost is no more than a bad trade.
I also have signed up for the Fx course in Australia in September. I also have spent tens of thousands on courses, some of which were Fx courses. I have traded CFD's successfully and am conversing on a daily basis with successful Fx traders who are helping me to be successful. I don't believe it is possible for most people to trade Fx successfully from books. I know there are people out there who teach Fx who endeavour to do the right thing. The ones I have come across are good (perhaps great) traders but they are terrible teachers. I am hoping this course will provide some simple to administer techniques to enable me to survive while I learn to trade using my own methods. I hope to meet you Pine at the course and I too will post here after the course with my assessment of it. After finding this Blog, I have become very concerned about the course so will be very critical during the course.
ReplyDeleteHi,
ReplyDeleteI'm a complete novice and still reading and doing my research with regards to FX trading. Mind you I have done no trading what so ever. Is this course really a waste of time? Has anyone been on this course and found it helpful. Only ppl who speak well about the course are all anonymous so don't really trust what they say. Anybody out there who did the course who can enlighten me??
I have recently done the course and it is a great pity about the hardsell.
ReplyDeleteThey really push hard to sign you up for other courses and mentoring.
There is little after sales service to sort out problems, and the goal posts move from what you get told on the seminar. EG you can re-attend the weekend course as often as you like for a year.
When asking when the course was to re-attend several months away as they only let 5 people re-attend each course.
The salesman claim to be traders (and successful at that) yet I haven't seen any sign of money (cars watches, polished shoes even) on any seminar presenters or at the training centre.
Seeing some of the group emails from attendees at the course I'd say the course should be 3 days not 2 as alot hasn't been picked up. Also real life charts are alot harder to read than the peachy perfect ones they use in their examples.
You need to read a bit before attending a seminar and learn a bit more before attending a course.
This company has the potential to be quite good, but unfortunately money and sales massively override the quality of teaching and after course support. Difficult to get through or get an email answered once they have your money.
I hope you're reading this Greg - you could do better, not measured in terms of the money you gain from selling training but how you gain the money and what people get in return.
You should be getting rave reviews, not comments like this and those above.
Thanks for the feedback Anon(02/09/09)
ReplyDeleteHi Guys
ReplyDeleteSaw the advert for Knowledge to Action from an email from The Motley Fool - This blog has confirmed my thoughts and I have decided to leave it well alone - thanks for that and good trading
I went on the course plus the follow up course. Be aware knowledge to action do not teach you how to trade as they promise, what they teach is a system which was designed for the American Market during bull trends.my first coach forgot to turn up to 3 sessions before she went on yo promote k2a, my second coach was fired and my third and final coach hadn't a clue what he was talking about. He went over past trades, which on hindsight is easy. Anyway I had 5 sessions left and instead asked for my money back. I also lost 20% of my account using one of their many setups, which they themselves do not use. I've asked for a refund and as expected no response. I even wrote to Greg Secker who didn' respond. Why do I write? For any beginner how you start off will effect your learning thereafter. Start learning with k2a and you may struggle with trading like I did for a while so make sure you get yourself a good teacher. Luckily I can washout memories I don't need. By the way I don't think Greg Secker was a successful trader as he suggests, I don't even think he was a trader but I could be wrong on this account. Traders be aware.
ReplyDeleteHi All,
ReplyDeleteMy name is Bill Elliott and I attended the Immersion Training for Position Trades on 5/6th September. I have traded shares for many years where I have won and lost. This course clearly taught me that I was gambling. It was an excellent course, well attended by many professionals. I agree additional courses are a hard sell and you are not told about your right to cancel..... ever. In saying that I signed up for additional courses to master trader level, but after sleeping on the matter I cancelled four days later. I did have to remind them on a number of occasions, but I did get a cancellation e-mail clearing a heavy invoice. I intend to do the FOREX course early next year.
OK remember any education costs time and money. You need £2,25k for the course, plus hotel and travel expence. You then need £5k to trade compounding gains using their 1% risk reward ratio. If you do not have this sort of money to spend forget the course. If you want to fly a plane it will cost you money to learn and this is no different. The one to one coachings sessions are a waste of time and you have to spend hours learning all as NOTHING comes easy. I'm happy as I never thought I'd get rich quickly.
Take iteasy.
bILL.
Hi,
ReplyDeleteJust wondering if any of the guys that did Greg Seckers' FX course in Sydney in September '09 can provide some feedback. I'm particlular keen to get your opinion on whether you believe the returns claimed at the 2 hour intro seminar are reasonably achievable after doing the 2 day FX course. Has the support been good? Also, as a stand alone course, has it given you everything you need to successfully trade or do you feel you have to pay out more money do his more advanced courses?.
cheers,
RB
THANX ALOT GUYS THIS SITE HAS SAVED ME FROM KNOWLEDGE TO ACTION,I WENT TO THERE 2HRS SEMINAR YESTERDAY AT HILTON HOTEL IN BIRMINGHAM WEST MIDLANDS UK AND I SIGNED UP FOR THERE 2DAYS COURSE AND PAID £500 WIV MY CARD BUT AFTER READIN THIS BLOG I SENT A CANCELLATION EMAIL TO THEM AND ALSO CALLED THEM AND I HAVE JUS WROTE A CANCELATION LETTER WHICH IM GOING TO POST TO THERE ADRESS..THOUGH THEY DIDNT SOUND BAD ON THE PHONE WHEN I CALLED FOR CANCELATION THE LADY WHO SPOKE TO ME ASKED FOR MY EMAIL ADRESS AND CHECK ON THERE SYSTEM AND SAID THAT THEY WILL GET BACK TO ME...ANYWAY I THINK THEY HAVE CHANGED THERE CANCELLATION POLICY AND IT IS CLEARLY STATED THAT U CAN CANCEL BEFORE 7 WORKING DAYS AND A FULL REFUND WILL BE MADE...I JUS WENT FOR THE SEMINAR YESTERDAY AND HAVE CANCELLED AFTER READIN THIS BLOG TODAY AND WILL BE HOPING TO HEAR FROM THEM SOON..I WILL LET YOU GUYS KNOW THE OUTCOME AS SOON THEY GET BACK TO ME ...CHEERS
ReplyDeleteEMMANUEL
Hi Friends,
ReplyDeleteI had attended the seminar. I it was interesting and very convincing to join.. but it sounded too good to be true, so I didn'T join. Insted I decided that if at the age of 24 I have the will power to be a project manager, I indeed have to power to manager my future. Therefore there is no reason for me to spend 2.5grad on the course.. but to self study and ensure I learn and apply the knowledge myself. If possible find yourselves some friends to support each other. read everyday news, shares and otherthings around.
A dear friend in a blog above stated to study Forex using chaos theory and fractal geometry which is very interesting. Google it up friends and have a look at what you get to learn.
learnng is a key to success.. not when someone tells you or teaches you with their knowledge. When you learn for yourself you realise the needs, strategies, power etc. to make a difference. You can only learn from yours and others mistakes.
spend 2.5grand on books that will support you.. not on courses that last a few hours. Books will always be there when you need to refer back to then. Then research more using google search which is safe.
There are also free softwares to support you on google so be wise, then test and try softwares to pick a good one.
kind regards
simran
hi all
ReplyDeletei was actually meant to start work for k2a last monday. i was actually going to do the job of ringng people who dont sign up on the day. i had a 2 day training course. one day teaching us the 'programme' and teaching us some of the techniques they teach on the course. i must say even though i wasent meant to be signing up for the course, just the training alone made me want to. but i kept telling myself if something sounds too good to be true it often is. the guy who was teaching us at the time claimed to be a successful trader himself and showed us a video of Greg making £19k in 4mins. but he himself seemed like a well paid man, possibly well off and mortgage free but certainly did not look like someone who had made £63000 in 4 days as he claimed. so i decided to do some research before using my invaluable sales skills to get them more customers(btw they offer £100 for everyone i get to sign up).
after my research it seems the feedback is far more negative than positive. almost like 95% negative so i decided not to take the role. However, i must say that they do not promise you will make money but will teach strategies that COULD not WILL make you more money. they even taught us a few strategies which i think were verhy helpful. so i will say this, if you have 2000 spare then by all means do the course because it will teach you things you never knew about trading but if you dont have that kind of money DO NOT RISK IT. they say they teach you only to keep your risk to a maximum 1% so that being the case, if you dont have £200k in the bank ie 1%, then do not risk it as you could end up losing far more money than you think...also bare in mind Greg Secker, before starting k2a, was apparently the Vice president of a major us investment bank, but when i asked the trainer the name of the bank he said couldnt remember.(funny that isnt it). and they said he started K2A in 2003 and he was 27 when he made his first £1m from trading. That would suggest to me that he was under the age of 27 when he was VP for the bank we dont know the name of.......Have you heard of a vice president of a bank being under 30 or even 35 for that matter esp a major investment bank. ill quit rambling but a word to the wise is enough
Thanks
Jason
It has been great to find this blog. I tried to contact all the individuals on the distribution list from my 2 day course (which I thought was very good) but nobody out of about 50 people who attended responded – this in itself was incredibly unusual/suspect)!?
ReplyDeleteSo this is my story…. I attended the K2A training just over a year ago and have been trading on and off over the last year. I also had the momentum coaching following this... I have not done well and lost about £500 pounds on 5K account. With the course and the coaching the total investment is about £3.5K. I am relatively astute but I have not put a great deal of time into this and I think that you do need lots of time for self study.
I do think that you need to be really interested in the markets and have the time to be any good at this.
I do think that the coaching staff for the one2ones are very good but at over £100 for a half hour it is far too expensive but the weekly ‘free’ grad calls are useful.
I have now decided to paper trade for a while and give this a fair crack. I am not shelling out any more money with K2A until I put the time and practice in. I am gonna give it another 6 months and if still not gaining then I will swallow my losses walk away... The only reason for this is that I am sick of the 9-5 commuter grind and yes I was sold on the dream.. but a small percentage do actually make it! I will let you know how I get on...
Hi,
ReplyDeleteI would just simply like to say that it is greed of bank traders which have caused global misery , now some of these guys are still trying to gamble peoples hard earned cash away ..they are morally bankrupt people...preying on peoples vulnerabilities, insecurities and dreams of becoming rich .
I received an email from them to my hotmail and clicked on the link, it all seemed too good to be true, I am currently unemployed and their advert looks professional and is put accross that it is free and you have nothing to lose. You can enter your postcode and this then lists the nearest of their centres from which you can attend the course...they must be profitable as they have several locations in London alone !
Liverpool street, victoria, waterloo, and Heathrow to name but a few...
For someone struggling out of work an invite to a free 2 hour seminar seems like a good idea with no risks..from reading this blog , it has been an eye opener, nothing about any smallprint or obligations of payment mentioned..if it were there , they know people would not sign up..therefore they hide the truth...that age old excuse that they are not lying to you, they just never told you !! therefore they are not lying and haven't broken any law or moral code...what a load of BS !
I am sorry but I cannot believe that these people are making big money off the backs of naive or silly people or those who genuinely have an interest in the markets and sincerely want to learn who have been taken in by them..my advice ..go and study yourself..open university or a reputable and certified institute..there is no such thing as get rich quick...if you do not stand for anything ...you will fall for anything !
They are as dishonest as the greedy , disgusting traders which brought our global economy to its knees and people like myself much misery. I despise them and all they represent.
This risk taking trading should not be encouraged...have we not learned our lesson ?
I thought it sounded to good to be true and it's a good thing I did, scary stories ..this is without a doubt a scam, but these guys know all the legal loopholes which allows them to operate at all..fraudulent advertising.
To any people thinking they will learn any secrets or get rich this way ..think again...don't be naiive, unfortunately anything worth anything in life is earned by honest hard work.
For anyone who has been taken in by these scam artists in suits...if it were me , especially if I had parted with my money or been bullied /harassed , I would make it my mission to have them busted and brought down...who is this gary secker ? what is his background ?
Its just wrong , if not in the eyes of the law , in the moral sense, is nothing sacred anymore, we need to stand up for what is right and what is right in this case is to close them down. These people make me sick.
Is this the guy who is runs the workshops ?
ReplyDeletehttp://www.hdimages.co.uk/portfolio18638.html
He obviously is not suffering from the economic crash the rest of us are.
Excellent post by an "insider" Jason - thanks for the comments! I'll definitely stay away from this crowd now!
ReplyDeleteMan I was so hyped up about going on this course thought it was all legit as it was only brought to my attention via a total jobs link LOL.
ReplyDeleteim really glad i found this blog... and will NOT be going to the seminar this Monday 12/10/2009.
Ok - I thought I would add my views as there is so much negative comment about the sales techniques and little from people who have attended the course and found it worthwhile. The free seminar is of course a means to get you interested in the two day immersion training. I have been trading for many years and believe me you cannot learn much in a couple of hours. Indeed even on the two day course there is a huge amount to absorb. The course covered a lot of ground I already half new but was very clear and gave my confidence a real boost in terms of charting and entry/exit points and in particular in risk management, use of indicators, setting of stops etc. Since the course I have taken advantage of the coaching available and have booked further sessions. Many of the guys from the course have kept in touch and we have regular conference calls over Skype to discuss ideas. I would stress that this is not a get rich quick thing, we are all still learning and adapting our strategies as the market changes and for different sectors. Some of us are in profit and some of us are not but we are all convinced that what we learnt on the course was very useful and we will profit over the long term. Throughout all of this, Knowledge to Action have been professional and easily contactable - though I haven't tried to cancel a course I did have to change the dates due to work commitments and that was no problem. I am now starting to make some good trades and I know that the ones which do not work have a managed amount of risk associated with them. As some of the others above have pointed out you need to have sufficient money available to start out. There is the cost of the course and you realistically need 5k in your trading account. You will not be able to live off the money you make until you have grown your account very significantly and this takes a lot of time and dedication and repetition of the same analysis every day.
ReplyDeleteAll in all however I enjoyed the course, met some great people and found it thoroughly professional. It brings everything together for you very quickly and enables you to be trading from the next day. I will post again in December with my results and a low down on the Forex course.
All the Best
Carl
Anonymous said...
ReplyDeleteim really glad i found this blog... and will NOT be going to the seminar this Monday 12/10/2009.
I attended the seminar today in Reading. Let me tell you, you did not miss much. As a previous poster mentioned, "unfortunately anything worth anything in
life is earned by honest hard work."
How does that song go...? - "DONT BELIEVE THE HYPE" - The £3750 & £19,000 profit trades in the videos were carried out on a $2,000,000 account. yes, TWO
MILLION US DOLLARS (risking 1% of account on the 19K trade as i recall)
The K2A presenter "Clive" claimed that his biggest deal in his 28 years of banking/trading experience was in the order of $1.1Bn ... and now he presents
seminars... hhmmmm?
I have to say that i nearly walked out when i asked for specifics on the "Forex Income Generator" and he snapped back saying "i am not going to tell you!"
... i was under the impression from their sales literature that we would be taught 3 stategies... He told everyone the *names* of the three stategies (woo
hoo - big deal!)
In comparison to Mr. Sandy Jadeja on the ODL course in london, he went in to great detail about 3 very workable trading strategies. I learnt an enormous
amount from Sandy just in a few hours. He wasn't on the hard sell and all he appeared to recommending was a particular broker... fine.
...back to the K2A guy "Clive", he actually asked each person what they wanted... Money, Time, Wealth etc, immediately followed up with "yes, i'll be able to
show you how to do that"... like some kind of Forex Santa .. wierd. Of course no one was shown how to obtain such things. All the Forex Santa actually
delivered was a £2-£3,000 price tag for their 2 day course.
My Evaluation of the Knowledge to Action:
Very misleading sales literature
Seminar: No *real* substance
K2A's 'Internet reputation' appears very bad ~95% negative reviews in a cross section of forums.
Stars: 2/10
I think it is safe to say that Knowledge to Action are best avoided.
ive just come back from a seminar in central london and recognise the hard sell -its a shame because some of what they say in the seminar is quite good-
ReplyDeletethey do seem to be organisation to stay away from- if they were that good, why would they treat peaople so poorly when they turn up to their free seminars and why try to hard sell- it all comes across as a bit desperate on their part and their whole story falls apart ie are they really succesful traders?
Hi everyone
ReplyDeleteMy name is samit and my wife's name is sunita and we both have attended the course this monday and tuesday.
This course is all theoretical and no they don't take you to the trading floor to place your bets or hands on experience of your betting or anything at all.
They will not teach you the software like e-signal or mf global spreads. Please don't carry your laptops.
Though me and my wife understood the concept but we both are unable to place any bet due to practical lack in training.
Just imagine you been taught to fly a plane through books and that's it. It's upto you now if you want to buy that plane and go on this master trader and forex courses to learn the runways at the airports.( which will cost more)
Another problem was that there were these people who had some experience of trading and they seem to be taking lot of our precious and expensive time to buy their advance quests. I could clearly see that there were a lot of people who might have blushed to pick courage to ask and try to understand some pretty basics.
Throughout the course we were told at least 5 times that 85% of people attending the course never place any bet.
My question to Mr Greg Secker would be 'why is it so?'
Seriously guys this traders uni need to change their techniques in making people really practical about this whole thing.Maybe after taking the money and after cooling of period of 14 days the uni should simply post these books for self reading. Then the uni should throw a two day course. One day for for answering the theoretical questions and one day for some real life practical and hands on trainig in running the brain and computers together.
In the meanwhile me and my wife are putting our sincere efforts to learn the e signal and mf global software.
When will I place my first bet?
You put yourself in my shoes and you got the answer.
You can always give me a call 02476 442202 only after 5.00 pm
Regard
samit
Well to add to my post above - it takes time but me and my colleagues are getting the hang of it now and making money - like I said 2 days is just the basics. You cannot expect to be a City trader immediately; you need to experiment and learn. You need to bend the rules and be ready to go short if your stock turn on you. I have no affiliation with TU but it has given me discipline and my risk management has improved 100%. Don't write it off yet, keep learning. I have some good friends who are now full time traders and make good money - it is not just about the short term set ups but long term study; profit should be taken and placed in the lifetime savings account. Pensions have been destroyed by the government so we have to look at something else. As I said - I am going to Forex two day course next week and will post an update when I have had time to really understand the skills; the FTSE 350 has taken me 8 weeks to really get the hang of. Like they say ... this is NOT a get rich scheme but requires hard work, constant monitoring and an understanding of the sectors/stocks you prefer. Yes there is some pressure to get you on the next course but if you don't believe it will work then don't do it. My firm belief is it will take you a lot of hard work and dedication to master any sort of trading but to be fair to TU they cram in as much as possible on the courses - the rest is down to you!!
ReplyDeleteSpeak soon!
Carl
Hi everyone,
ReplyDeleteI found this blog to be extremely informative, and thank for all the good advice. I was like many people in this forum trying to learn the skills of trading and be better off working from home. I joined the seminar and was rather discouraged by their hard sell approach when my bank declined the payment, thank god for that! Now that since I read this blog, I wouldn't want my bank to process the payment anymore.
I want to give a small token of appreciation for all the good advice. I recently came cross a good trading program, they will teach you how to trade at your own space and costing you only less than 300 USD. You can sign up for a five day mini-course to decide if it's the right one for you. I personally found it to be extremely beneficial since it provided solid foundation for trading(and some extremely experience traders loves it too). The only complaint I have it's that I sometimes found it to be difficult to understand, this maybe due to the fact that English is not my first language. Try it out for yourself.
http://www.topdogtrading.com
Gina
Hi everyone,
ReplyDeleteI haven't read every single comment on the page as that would take forever.
However, I have signed up for and taken the course so I thought you might appreciate some feedback.
It is good to be cautious, however anyone how has ever been on any 'free seminar' would know what is waiting for them, i.e some basic info + sales pitch for a paid course, and anyone who expected to learn the full package in a free seminar must be a bit naive.
The sales pitch was good, however I must say compared with other 'free seminars' there was no pressure and they made it clear that this wasn't for everyone. (apart from the fact that is was cheaper if you signed up straight away rather then wait - but that would lose them business, and after all they need to make money like any other business)
Just to be safe I didn't sign up straight away until I had done some more research. Needless to say, they still had some 'reduced price spaces' left for their courses and I signed up.
TRADING IS NOT FOR EVERYONE and if you are not going into it with your eyes open then keep away.
Their course was GREAT. However there is only so much they can teach you in 2 days. They suggested that we go away and practise the techniques for a couple of weeks and then come back for your 1-1 coaching sessions (included in the course price). During this time I lost as much money as I made but I got the basic gist of things.
I came to the coaching sessions and they went into much more detail about entering and exiting certain strategies.
I don't expect to start making big bucks for a good few months (but nobody convinced me it would be quick), however I am definately getting there by making more successful trades.
I urge people to give it a go, a couple of thousand pounds - pay and go in with a winning attitude, however if 2000 is too much money for you and you are sorry to lose it then dont bother.
I gave up my job a while ago because it wont make me rich, only going out of your comfort zone will.
LOL. Nice sells pitch NP. Sorry I meant to say K2A.
ReplyDeleteWent to their presentation in Belfast y'day. I'm a cynic but, in fairness, when I trotted out the 'must talk to the wife excuse' the presenter (Garry, I think) said that I had seven days to cancel (they seem to have changed their TOB as a full refund is now mentioned in clause 3) and so I booked the VIP option. I was given a set of DVDs (apparently the remote learning option) for paying the full price on the day and booked the next available Mon/Tue course, which isn't until 7/8 Dec.
ReplyDeleteHappily, I got a message from them today saying that my credit card company had declined the payment (strange as I'm nowhere near my limit) so at least I now have the chance to have a good look at the DVDs and see whether or not there's any substance to what they offer.
Will let you know my thoughts.
I should add that I've checked the Business Britain magazine website and searched for both traders university and knowledge to action and found nothing, so they must have kept their awards pretty quiet!
ReplyDeleteEsteban
I also went to the Belfast presentation last night. After talking to them I too decided to sign up to the VIP option. I have the DVD's to watch, after reading the above commments i'm not sure that I'd want to go on the course anyway.
ReplyDeleteAlso strangely enough they rang me to say my bank had refused payment to them, the fact that 2 different people have had the same thing happen to them is very strange i think.
Unfortunately i was not bright enough to give them my credit card details, instead i gave them my debit card details, perhaps a schoolboy error - can i instruct my bank not to make payment to them does anyone know?
J
i went to the 2day seminar and it was the biggesr load of trash and waist of money(2grand!)i have ever spent. im in a bit of debt. they might as well phone you up and say bet on trends because thats all i came out with and like all bets its 50/50 if you get a win, i didnt! please dnt go (i am the will smith guy from before!)
ReplyDeleteI have asked for a refund. Thank you for saving me money.
ReplyDeleteI attended a two day course last weekend. Firstly I was aware of the relevant costs I would incur and that there would be a certain sales approach to buy more and more courses. That is up to the individual to sign up or not.
ReplyDeleteI found there was a lot of information to be taken in over the two days which I am still working through at this moment. However another thing taught was not to rush in to trading but to adhere to the rules taught and wait until a situation presents itself. Since close of business Monday and again Tuesday I could not see a suitable opportunity and thus did not make any stupid trades. I am not in a hurry I believe some people think they will make a fortune and are led into taking a course because it is easy money and are then disappointed when they discover they are going to have to invest their own money and work to achieve the reward if any. Do a course if you have sufficient monies available do not if you have not its that simple.
I attended one of these seminars (K2A) last night and as I already have some experience as a trader (not anywhere an expert though - and the genuine reason behind me wanting to attend and learn more) could tell immediately that the speaker was trying to mislead people by creating the false impression that there was this pile of cash/wealth sat out there just waiting for you to claim it by spending 30mins of your time a day - and of all by SPREAD BETTING!! When I pointed out (from my experience of being burned) some of the inherent risks in spread betting, the speaker seemed to get upset and personal. Attendees were made to believe that there was endless wealth waiting to be made and mortages to be paid of in 2-3 years time which I feel was misleading. A lot of very profitable trades (in thousands) were shown (claiming to have been real trades) and not one loss [maybe the speaker, who claimed to be a professional trader, never made any loss at all]. And in the end there was this offer that "we'll teach you everything and get you there" for a mere 7000 pounds, but if you join today we'll discount that to just 1997 +vat. I actually wanted to meet and speak to someone who traded for a living and figure out if it was possible and where i was making mistakes, but the whole seminar was a real put-off and I do not want to trust any of these self proclaimed trading gurus. By the way, one of the highlights was the speaker talking about Warren Buffett as a trader. (Does Warren buffett make all his money spread betting? I thought Mr. Buffett was an investor)
ReplyDeleteAs part of the one day free seminar they do show you a long term plan of investment of your earnings from the spread betting in shares/ pensions etc etc a third into you current account a third into investment and a third back into your "trading account". I think that as an intelligent person you should be able to make decisions based on the info you receive.
ReplyDeleteOne thing that they don't make clear on the course is that it is spread betting and that the "trades" are bets really. It took me a while to figure this out as I am completely new to the jargon.
I used the seminar to see what was out there and what was possible - You never get anything for nothing. I'm going to set up a demo account and see what happens, then decide whether or not to take it further.
Thanks for interesting comments above.
How sad u are. A positive post on the forum and you call me a saleman from K2A.
ReplyDeleteWhy dont you just go and get a pathetic 9-5 job, and stop wasting your time writing blogs about something which you know nothing about.
Too scared to take the risk, so you want to justify to others why you are such a wimp. Why are you here?
NP
Lost of negative and a few positive comments!!!
ReplyDeleteI attended the seminar a couple of days a go and now they are chasing me for the £500 deposit! should I pay?! Ha, perhaps I need to think more :) thanks for all + and - comments, I think I will try and learn by using the free demo access avialable on line then risk what I do not care to loose...perhaps £1000 or a little more...
Sam
Hi. I went to the seminar last night in Brisbane, with Mr Secker as the presenter and thought I would check it out. Came up with this site. Very interesting as the selling techniques don't seem to vary to much. Needless to say I have not signed up nor am I likely to. Thanks to all the people who have posted, though. I am interested in contacting the other Australian attendees (Russ and Pine)if they have the time.
ReplyDeleteHi All.
ReplyDeleteWell what can i say just read throught this after reading the posts. Quite a laugh. I went to one o their free seminars, I had the time spare on the weekend and thought well maybe I could get a few tips. I already trade and do well from it.
Got to the seminar and obviously expected a hard sell to go on some course for a today only bargin rate. I've done a lot of NLP before and these guys were good at it. Especially the starting video, straight from tony robbins.
Anyway dind't know what they were going to teach. I did obviously discover it was all about spread betting.
The free document they give you a link too is,
http: //k2afileburst.fileburst.com/k2a-pdf/millionaire_trading_secrets_report.pdf
user:trading
pw:success
its all about spreadbetting. sure you could do this, but you don't need any course. they say strategies and disipline is what you need and they are right.
Don't waste your time or money. Do your own reaserch, you'll need to do it anyway reading all these comments from people who have been on the course.
I've never done spread betting. After the free seminar I set up a FST and CFD account and played for a bit, using what they said. together with my own research. and yes it could work, but you don't need them to teach you
hahahahaha
ReplyDeleteGo and look at the national business awards what they were actually a finalist for
I attended the 90 min FX "seminar' last night in Perth WA.
ReplyDeleteMr Secker was quite convincing & in addition to frequent references to his very substantial wealth from FX trading,( Other posts talk about other trading methods??),he screened an apparently "live trade" in which he made $ A 150,000 in a few hours.-almost risk free.
We could also be part of the action was his recurring theme.
$1000 a week profit from 5 trades a day to start & moving to $10,000 a week within a very short time-provided you follow his system. Conditions set were $2-5000 in your trading account as seed money, 6 months embargo on removing money from your trading account,give them trading results Jan- Jun & a license to publish all results.(presumably only the good ones).
Selling of another course was predictable and expected ,however my observation was that he was very light on course detail (apart from we will teach you how to do it) and subsequent follow up/support-oh,the promise of 3 x 1 on 1 webinars.-(when? how long? subject?)
In other words,what are paying customers actually getting for their money?
I have a copy of the small print noted in other posts which shows warnings ad-infinitum re risks & possible trading losses,loss of deposits etc all referred to in other posts.
These conditions were definitely not pointed out to anyone who signed up or enquired & are at the back of 3 pages,which would not be noticed in the sign up process-The scalpers were very keen to get either full payment or deposit there and then.
Given the seminar was already within 4 weeks of the course,any cancellations would incur a 25% cancellation fee (as stated)It also says 'If we receive..notice...etc on or before the 5th calender day then a full refund ....
I doubt that clause is legal within Australia,but wouldnt be keen to test it!
The website represents offers of free books for "all attendees",however the gophers made sure these only went to "paying customers"
Not so in the seminar where it was all profit,profit,profit! 93% profitable trades against a 1% capital risk etc etc.
Course cost was $A 3995-
Sydney was the one and only location which added considerably to the cost for those living in other areas. No hint of any necessity for follow up courses. We were to be turned from knowing nothing to being on the road to multi millionaire status after 2 days of learning his techniques and installing his proprietry software.
I think most courses of this nature have some good techniques but for me, follow up,access to support & quality informed & skilled on going training/support would be critical in any decision to risk 000's of $$$ on nothing more than hype & unsubstantiated representations.
One must make their own judgement on the cost/risks/benefits.
For me, I wasnt convinced & will continue to research credible & proven training & systems (if there are any!)
Best Wishes to all,
Hi thanks to all for the advice on here I have just cancelled my booking and stopped the deposit cheque. I have notified by email and recorded delivery. Narrow escape I count myself lucky but stupid.
ReplyDeleteThey are now upping the anti they have posted automatic responses to my email cancellation which state a 48 hour turnaround time and they have sent confirmations and an invoice. Methinks these people are well accustomed to complaints. Oh well bring on the OFT!
ReplyDeleteI found the free seminar really useful. I trade with xforex (another platform) and I actually made 70% profit in 20 days just by doing one single thing they told me: invest in Dollars when the American market opens - around 13:00 in UK's time - and sell it after it goes up. I thought: fabulous! 70%! Then the market changed and I lost 60%... Well, I think they might know how to make money out of FOREX, but I'm not sure if I want to pay 2000 pounds for a 2 days course. Maybe next year I'll consider, but I don't want to have a salesman chasing me for that, which is what they are doing. I will decide and than come back here to tell you.
ReplyDeleteHi
ReplyDeleteI have been trading forex for about two years. I make a consistent monthly profit, but decided that I wanted to learn a few more strategies.
I went to their free seminar and heard the sales pitch. I was interested, but decided to leave it until I have found out a bit more... BTW this is not hard to do. If you signed up to it straight away and complain about it later you are not the kind of person who can become a trader. You cannot place a trade and then decide to quit, you will lose money.
However, people here have complained that they haven't made money even after going to the seminar. Well, you cannot expect to know what you need to know after just 2 days of training. Trading is like a job, and a VERY difficult one. You cannot expect to become a professional after two days of training - its rediculous! It takes people years. Expect at least two years of learning after the course.
I have been trading for two years and I have been making a consitent monthly profit of between 1-5% per month with a drawdown below 2%. It was extremely difficult to get to this point. I am now going to accelerate my learning by using those profits to go to their two day course.
Therefore to conclude, you will NOT make any money going onto this course unless you ready. First spend time learning about forex before you sign up. You don't expect to walk into a job without knowing a little bit about the profession, and you certainly won't know everything about your job within two days. Imagine wanting to become a mechanic and doing a two day course lol - its laughable.
ps... Stop trying to get a refund just because others say its difficult to do so, it makes no sense.
Hi,
ReplyDeleteIts me again. I posted anonymously a couple of minutes ago about having traded for 2 years blah blah...
I will let you know how the course goes and what level of experience you need to make money from it. I hosently don't believe you can go on this course and make money unless you already know how to trade.
And for those who say spread betting is gambling... It is exaclty the same as an FX account (which is not gambling, its taxed) you trade in lott. A standard lot is about $10 per pip (the last digit of the currency quote) depending on the currency pair and the direction you are trading. Therefore if the price moves up 10 pips and you went "long" you will make $100.
Spread betting you chose your stake size e.g. £10 per pip. Therefore if you go long and the price moves by 10 pips you will make £100 - Sounds remarkably similar! The only difference is that spread betting is simpler, because all the pip movements are in sterling! So you risk:reward is easier to work out. Oh yeah and its tax free, because technically you are not buying or selling currencies, you are betting on their price movements.
Its the simplest form of derivitives. Please don't just say its gambling, because then you are very short sighted. Technically it is gambling, but then unofficially so is normal investing.
BTW if you want to contact me my name is Peter on p.j.viss@hotmail.com.
I went to the seminar in October and was imeditaley convinced. Signed up, slept on it and had a horrible feeling that I had wasted £2K. I called them and they immediately cancelled my application.
ReplyDeleteI advise you to go to igindex, learn from their FREE courses, use their FREE charts (not $120 a month) and try out the 7 week incremental trading from 10p a point. Its still betting but you now have £2K to spend where you would have given it to K2A. Even if you buy a couple of excellent books on the subject, while you're trading, it saves you the money you would have spend. You WILL lose money that is a guarentee but you will do it in small amounts while you are learning.
That's my constructive experience and I hope it helps.
James
I attended the seminar at a Hotel near Heathrow on the 13th December, my partner having attended one a few weeks earlier and urged me to go and give my views. The speaker was a fast talker and I struggled to keep up at times. I signed the contract and when I got home mentioned to my partner that I was having second thoughts as it looked too good to be true. Thank goodness we found this website. Today was the 7th working day and we have emailed to cancel the contract and also posted off the cancellation letter via Special Delivery in terms of Section 3 of the contract. This section states that if you cancel on or before the 7th WORKING DAY then you get a full refund of all monies. I phoned their offices and they confirmed that they have received the email and will action the refund. I will keep you posted regarding progress in this regard.
ReplyDeleteWell done anonymous, glad you found this blog! This is exactly the reason we posted it for!
ReplyDeletevery new to the markets and was very eager, have had no trading experiance before but have a trader close to the family, went to a free seminar in West End , signed up at first without hesitation, but once related to family friend said its just the same as gambeling it could go either way . since then i have cancelled and recieved my full refund on the deposit of £500. currently looking for another way to get into trading but seen alot more cheaper options. Good luck to anone looking into it .
ReplyDeletematt
Hi all,
ReplyDeleteThis is a direct quote from their website:
"Ultimate Forex Profits is designed for traders who have at least some exposure to trading, whether that be stocks, spread betting, futures or options"
Please don't sign up to this course if you are new to trading. You will never be able to learn how to trade in just two days. Read a few books, open an account, and then a year down the line go on their course when you can actually understand the difficulties in trading.
I bet some beginners go on this course and then go on to lose money, which promts them to claim its a scam. I bet that there are some people who have been on this course with some trading knowledge that have gone on to become millionaires.
There is a lot of hype at these type of events, but only the savvy and smart will actually make money from the information they have provided.
There are promises that anyone can become a trader using their system, but its rubbish. You will not be going from a dental nurse to a trader because of this course
Hi,
ReplyDeleteI attended their free seminar.
I am an experienced INVESTOR, and I work in banking... I used to work side-by-side with FX and interest rate traders for a large US Investment bank. My job was to calculate the trader's positions.
Basically, even our traders wouldn't be doing the sort of trading that KnowledgeToAction talk about in their seminar: it's far too risky. The traders would instead make money by selling an instrument for a higher spread (the difference between the BUY and SELL price), than the spread it would cost them to BALANCE THIS RISK as closely as possible with another trade.
So at the end of the day, the traders for this top-3 investment bank would have almost no position. i.e. they would not be betting on a particular currency move.
Why? Because currency moves can't be predicted. If they could, don't you think they would be doing it???
Knowledge to Action make you think you're minimising your risk to 1%.. but this is rubbish, because if you lose that 1% you then bet another 1%, then another, then another... At the end of the day you stand just as much chance of losing as winning!
It's like saying you've got $100 to play roulette. But just bet $1 each time. So you bet on number 13 and lose $1. Well that's just 1%. But then you have to bet again to try to win...
My best advice? Invest for the LONG TERM. Buy shares in a GOOD COMPANY and hold on to them for a few years. Now is a good time to buy. Personally I have plenty of shares in GOOGLE. Great company, still undervalued. Keep the shares for a couple of years or more and reap the rewards. don't worry about a short-term dip in the share price.
Good luck.
I am not so sure if it is a scam. Greg Secker seems to be a serious trader who teaches real techniques. He has been on TV a few times, including CNN to give advice about Eurpean stocks.
ReplyDeleteSee http://www.youtube.com/watch?v=7UFt-i5d9J0&NR=1
Thanks for all this advice. I subscribe to MoneyWeek which is a great magazine and also to their daily newsletter MoneyMorning. I am realy suprised that a reputable magazine like this has allowed the Trading University to send me an E mail advertising one of these seminars. Scum like the Trading University need to be exposed and destroyed!
ReplyDeleteThis is to the person who said that you should buy and hold your shares - in December 1999 the FTSE was at about 6,900... Its about 5,400 now.
ReplyDeleteThose who bought and hold 10 years ago must be really happy with that negative return. Short term trading is the best way.
Hey Anonymous, I didn't say invest in the FTSE in 1999. I said invest in a good company.
ReplyDeleteI also suggested it was a good idea to buy undervalued stocks. So obviously buying at the top of a bubble is not a good idea either.
One way round this, as nobody knows where the "top" or the "bottom" is, is to make regular (monthly?) investments. That way you average out your purchase price. Investing in this way gives you a smoother ride and historically has provided good long-term returns.
This is based on statistics and is verifiable, unlike knowledgetoaction's claims!
Personally I was 50% invested before the 2008 credit-crunch crash. But I continued to buy during the crash. At the bottom of the crash, my portfolio was at -45% (compared to pre-crash). Ouch. But I continued to buy and picked up plenty of Google shares very cheaply around $300.
The stock markets have now rebounded, and my Google shares have more than doubled. My portfolio is now +18% compared to before the crash. By comparison, most stockmarkets are still 20% to 30% down.
Bear markets are a great place to make money as they give you a good opportunity to buy great companies at discounted prices.
The cost-averaging method I discuss above would also have made you come out positive, as you would have picked up plenty of shares when they were dirt-cheap.
To Michael,
ReplyDeleteFair point. Absolutely makes sense.
I just have a different trading style. I made 104% trading forex. I will start investing in equities as a way of diversifying in a few years.
Hi
ReplyDeleteI've really enjoyed reading this blog. I attending the 2 day share trading course early last year and then did the forex course in November.
The first two months with the shares, I broke even (4k in my account) then the next three months I averaged 10% a month. Then Dubai happened and I lost a few %. My coach was good but I would completely agree with others that the cost was too much for what you get.
The forex course was ok (the share course was much better) but but coach wasn't - he was an experienced trader who had his own ideas that were not what I was taught. It made me lose confidence, so I would pick a trade, enter, then change my mind and exit, then look back and realise I was right in the first place.
Anyway, one the one hand, K2A is very overpriced and the manuals are very general and don't provide enough detail. On the other hand, the strategies do work and I would completely agree with some of the other posts that it takes a lot of time to get good at it. There is a load of research you have to do to figure out what you are doing wrong, it's the only way to get better. There was a poster who said something about spreadbetting being just like normal trading that that is exactly right. All investing is risky and you are only looking for an edge. The main difference between position trading by spreadbetting and actually buying/selling is that you pay a lot more in commissions and taxes with actual buying and selling.
I would also agree that people who are looking for an easy way to wealth should not even try this. IT IS DIFFICULT! You must be disciplined and prepared to put a lot of time and energy into it!
I'm now about to focus on the indices, commodities and forex because the shares are problematic with gaps and the choppy market.
Sherri
Went to a siminar - wanting to learn - very slick presentation by a very professional motivational speaker associated with knowlege to action- if he was such a sucessful trader why waste his whole evening doing this - they work very heavily on your psyche - working on the premise that we all want to be rich and give up the day job. A highly emotive sell pressing all the right
ReplyDeletebuttons. Conclusion ultimate aim is to get your money, they start the cost high £7,000 but by the end its is £1995 - almost a bargain you think. If it seems too good to be true..........it generally is!
14.1.2001
I attended two-day stock market training, since I lost money every month using Traders University methods, it is complete rubbish and it is definitely not work! Many people lost their shirts and most people just give up after few months of trading.
ReplyDeleteKnowledge2action presenters are very experienced and skilful con artists, so stay away from them as far as possible. You will regret if you sign up with them after reading all these comments, these are real people's experience and stories. Many people want to get their money back, and I have never heard and met anyone who has been making money successfully after the course.
It's is all lies, only take 30 minutes to trade, make 2k or 4k a month... if it is so easy to make money why are they still not financially free and talking to you at free seminars? Trading is one of the most difficult ways to make living. I wish I was not a sucker, it's been miserable experience; financial loss and my time was wasted...
A agree with the above comments, I was bitterly conned too. I was in their office for training last year; their office was completely empty. Where are the full time traders that supposed to be live trading on the floor??? They are selling Traders University system to us, but if it's so profitable why are they not using it to make big money themselves??? Did you get it? The system is there to trick you and me so they can sell their seminars to us, they make money from us, but not from trading, otherwise why do they organise so many free seminars in lots of cities? I hope you got it now and just stay away from them, you are very lucky to read these comments, so do not sign up any courses or just cancel your purchases or ask refunds ASAP.
ReplyDeleteTHANK YOU FOR THIS BLOG, AT FIRST THOUGHT THAT IT SEEMED LIKE BETTING AND THIS BLOG CONFIRMED IT IS BETTING. I WILL BE CANCELLING MY COURSE WITHIN THE 7 DAYS, IF THEY DO NOT PAY MY DEPOSIT MONEY, THEN I WILL BE DRAGING THEIR SORRY ASS TO THE SMALL CLAIMS COURT. THIS WAS A HARD SALES LIKE THOSE PEOPLE SELLING TIME SHARE. EVERYONE BE AWARE.
ReplyDeleteI attended the seminar on the 17th jan 2010, it didn't give me any new information on trading that I didn't already know from reading about it.
ReplyDeleteI knew they'd be selling something at the end but not a 2 day course for 2K! I also got an email the next day offering it to me again for 2K as all the places hadn't been filled, they also phoned me but I ignored them.
Personally I think this is a waste of money from a comnpany with little integrity. If their system and training was that good then the course would be £500 and you pay the rest whilst training with the money you make during training, as that's not the case clearly they don't believe in their own product.
I attended the free seminar and then a 2 day forex course ( discounted) and then a boot camp (again discounted) . I have tried hard for 12 months and probably just about broken even , apart from the course costs . I learned a lot I suppose but have given up on their strategies and I understand that all my boot camp colleagues have now gone elsewhere . Shame as they are pretty good at lecturing but their follow-up and coaching are rubbish .
ReplyDeleteIs it a scam? I don't really think so but it is VERY commercial and VERY expensive .There is no real commitment to you as a student . Think hard before committing .
I forgot to mention that you are allowed to retake the 2 day course free within I think 9 months of the first one - not bad but you really need one-to-one help after the course and as I said , that is expensive and the coaches change or go lecturing or whatever so the after-sales is really a let-down .
ReplyDeleteThis was a very informative site, I had been on the "FREE" (Should have realised nothing is Free) seminar @ Heathrow and whilst I am a beginner i knew very little about trading the whole speech sounded very convincing.
ReplyDeleteI was ready to sign-up but something in the back of my mind said I should wait as it sounds too good 2 b true.
Lucky as the next day I came across this blog. Phew!
My views were as previously mentioned above If their system and training was that good then the course would be £500 and you pay the rest whilst training with the money you make during training, as that's not the case clearly they don't believe in their own product.
I didn't sign up on the day of the seminar(which i agree with other comments that it was lacking in substance and more a hard sell).
ReplyDeleteHands up who wants to be rich??? all that BS.
Anyway since i didn't sign up on the day (HOW BAD AM I lol)i got a call from one of k2a reps who tried again to sell me the course. I said look i don't have 2.5k so he arranged a payment plan over 5 months which i thought was good (yeah at the time).
Luckily the 497 gbp deposit wasn't due till mon 1st feb and then i stumbled on this blog.
Well thank god i did,not only did this blog open my eyes to the deceit but the follow on e mail when i agreed to the plan.
He told me i could trade with as little as 100 dollars in the trader account and that everything was included in the price such as e-trader.Then i get another e mail saying that we can offer e trader for a discounted TU price of 67dollars + vat a month. HOLD ON A MINUTE you said it was included and never mentioned a fee per month and then it went on to say realistically you need about 3000 gbp in your account to trade realistically. I agree with other comments if this guy greg and his traders have such an amazing system, why is he not sat in a darkened room with a laptop earning buckets of cash from trading, instead of free seminars and the hastle of setting up a traders university??
Mother never raised no mug is all i can say.
Peace
The best thing that could be done in favour of people is to find a competitor of k2A and put that info here so that people can balance out for themselves. if there is no competitor to k2a than they are all bears here and they will sell the market till it dries out of money and people's interest. It will do no one any good just cursing or blessing them.
ReplyDeleteso far personally i have failed to find anyone in the market who is as agressive as K2A on marketing themselves or their courses.
So the truth is they will come and grab quiet a few more people unaware.
Is it a scam ?
Did you want to cheat a working life and scam out of it by spending £2000.00?
Who is playing the scam and who is winning?
Me!!
Yes, i done this course. I have been reading and reading and reading for last 4 months. Won a few bets and lost a few bets.i have enjoyed all that because i still keep my job as well.Keep it as a hobby and it won't hurt. I don't see what kind of nut would leave his job for this kind of gambling.
In 4 months my account has moved up by £80.00. Cosidering the countless hrs i invested ( 5-8 hrs per day ), was it worth it ? only time will tell. i will continue my effort in it.
Yes, the course is barely a scratch, you will probably be reading and learning all your life. And that's if you can enjoy to win and loose.
regards
samit
Twenty years ago I went to architecture school for 5 years and came away with no more than a couple of certificates which when I started going for job interviews I found were largely worthless. I finished my course at the height of the 90's building recession when 50% of architects in the UK were out of work. I was up against people with loads of experience who had long since forgotten their university days. In short I wasted 5 years at a cost of thousands and thousands including the course fees and no salary (I was still paying my student loan a decade later). After I finished my degree and diploma I read about several architecture students who were suing their universities for not having furnished them with the necessary skills to compete in the difficult climate of the time.
ReplyDeleteI went into retail management for a few years after my architecture days but 11 years ago decided to start a plumbing company which was a good move and is very profitable today. However, it cost me well over £20K in vans and tools, advance salary payments and material costs just to start trading. And it still costs me today which all businesses do for their owners.
Last year I started trading Forex at home. I lost £2.5K in 3 months because I didn't have a clue so I read some books yet still didn't have a clue. So when I decided to do the Traders University course after attending a seminar I didn't feel like parting with anymore money but as I could see the potential in financial trading I decide it was a small investment compared with the amounts I had spent on my careers so far. I went to the course last December and started making money straight away. OK, it was about £80 in 2 weeks on a trading capital of £3K but at least I wasn't losing my money like I had before. Since Christmas I have lost that money and am down about 4% or £120. Then again the market is very difficult at the moment and I'm still gaining the experience. Today I made 2% in one day (£60) making only short traders on the back of a falling market.
I have now read a few more books on trading (Mark Douglas, Van K Tharp, Jack Schwager, Curtis Faith) and have discovered that all trading is a form of gambling. That's right, gambling! But like gamblers, traders have to use a 'system' (gamblers call it an 'edge') and maintain using that system even when it doesn't work all of the time. In fact traders have to learn to accept that they will be wrong more that they are right. For most people, such a concept is anathema to them. This issue isn't even mentioned in the general 'Trading for Dummies' style books which refer only to technical indicators and candlestick types (useful but they are there to aid your system only; they don't constitute a system in themselves). The TU course gave me the system I was looking for even if it is a simple one and I'm more than happy to execute it because even with my limited experience I can see it works. I know I won't get rich quickly trading the financial markets and will have to accept the emotional nature of the job but I'm happy to play the time game and stick with it.
Next week I'm doing my Forex course and at the end of March I will do a Master Forex course. Will it be a waste of money? I doubt it because I am happy to accept the risk. If you don't like risk or think that trading is about being right every time then trading isn't for you. The TU manual clearly states that 80% of your profit will come from 20% of your trades. It is possible to be wrong 8 times out of 10 and still make money with trading. However, if you had bought a mix of shares which tracked the general trend of the FTSE in 2000 and held them until now you'd be down by over 10% on your account. Personally, I believe the days of long term buy and hold strategies is over. The people who make money today are holding for only days, hours or even minutes.
I noticed that someone called Michael posted on Dec 26th to describe his experience of trading for a bank in FX and interest rates. He is right to describe it as less risky but you have to be a bank or broker to exercise this sort of trading. It is called arbitrage. Many banks and brokers also have traders doing exactly the same stuff that Knowledge to Action teach.
ReplyDeleteI guess Michael didn't ever see those guys or maybe they didn't employ such strategies where he worked.
I'm not picking on Michael but just thought I'd clear that up in the interest of site impartiality.
Thanks.
Here is a short story... I went on the free seminar last October. Instead of being stupid and signing up straight away I refused and then came across this blog. After reading this blog and trying to untangle the web of complaints I realised that most people thought that trading would be easy. When they get home and the strategy doesn't work they give up.
ReplyDeleteHow long did you try? A week, two weeks? I have been trading for over a year and in 2009 I lost money for three consecutive months - April, May and June. I then went on to make another loss in August and November. I still made over 100% profit for the year, because of risk management and determination.
So after reading this blog I decided to sign up to the course to learn a few more strategies - maybe turn that 100% into 200%.
Trading is speculation, but not investing. You have no control over the stock market, and the truth is that most people lose their shirts on trading! You can be rich as an investor, but rarely as a trader. The true experts tell you that trading is one of the most difficult ways to make living! Please be wary that K2A people can write good things about themselves on this blog, so make sure you are not be fooled by them!
ReplyDeleteBring Knowledge to Action to your local County Court and get your money back! Please also report the company to Consumer Direct. If you were mislead or have got your fingers burnt by purchasing their courses please stand up and warn others. By doing this you are helping others to save their time and money! K2A makes profits from innocent people's financial losses and misery, it's very unethical and unlawful! They make most of their money by selling courses to us, but not from their own systems that they sell to us. You have been warned! Just stay away from K2A as far as possible!
ReplyDeleteIf it sounds too good to be true, as what K2A presenters tell you, without doubt it is a scam!
ReplyDeleteSince when has investing been different to speculation?
ReplyDeleteThey are the one and the same.
The FTSE is dropping and the "investors" will start to lose money.
The traders on the other hand will be entering multiple short positions and creaming the profits!
Now who's stupid?
i went to a seminar in belfast last night im glad i have read this blog oh my god i was going to give my money away, that was close, everyone at the seminar last night had sighned up
ReplyDeleteI did Forex course in November and although i agree it's impossible to trade 1/2 hour a day to instant wealth, i do think it has potential.
ReplyDeleteI'm a pro punter anyway on sports betting so am used to betting in hundreds but wanted to test the water first so only started trading in 50p and £1 per pip to begin with.
I've won £800 in the last five weeks some trades £3 per point. whilst i agree it's not something to give up the day job straight away, I certainly think money can be made by this. Unfortunately a lot of people doing this have no understanding of betting to begin with and i agree the coaching is not very good. But the strategies DO WORK.
Hi,
ReplyDeleteI have finally gone on the course and traded their strategies for the last week.
So far I collected 5 wins and two losses, so I am 3% up this week. Its looking good so far, but still too early to tell if it works in the long term.
As i said yesterday on here (pro punter) won £800 last 5 weeks but lost £372 this week. But you will lose sometimes. Course isn't worth £2300. Probably £700-£800 would be fair. Probably more of a second income type of investment rather than a retire quickly scheme.
ReplyDeleteWho is Peter? This person is very suspicious! Be wary! I feel he works for K2A!
ReplyDeleteI have filed for a court case against Knowledge to Action Ltd at my local county court, YES, I am suing the company at the moment. Their presenters misled me and tricked me to sign up with their course. They told me that I would be able to make £2,000 a month with trading capital of £2,000 by only trading 20-30 minutes a day. I was told this is achievable after 6 months of attending their two-day training and using their methodology.
ReplyDeleteIt was a big lie, I was a newbie and did not know that it is absolutely impossible to achieve 100% return on my trading capital each month. Later, I discovered that you need £30,000 – £40,000 or more trading capital with good trading experience and excellent discipline to possibly make this amount of money. I was conned, I lost money on trading and had to pay £32 per month for using ShareScope software.
I was completely misled and therefore I want to exercise my consumer right to bring the company to court for justice. You are completely nuts to sign up with their courses after reading all these negative reviews, unless you have too much time and money to waste!
If you believe Knowledge to Action is a scam and you have been conned by the company please report them to Consumer Direct 08454 040506, http://www.consumerdirect.gov.uk/scamnesty and the Office of Fair Trading by sending an e-mail to sc@mnesty.net
ReplyDeleteObviously the person who is suing K2A realised they don't have any discipline (2nd to last poster). After all, he/she admits that that is what it takes. But then again that's what you need to do anything successfully.
ReplyDeleteIt really is quite simple. Discipline and experience WILL convert a starting capital of £2000 into an income of £2000/month if the strategies are followed. Many of the successful people who have followed the course are making 10-20 times that much in a month. But then again, no doubt the person above also got confused over the concept of starting capital v monthly return and trading capital v monthly return. You have to grow your starting capital to get a trading capital which will yield £2K a month. And that means following what is taught, day in/day out for all time.
It's amazing how many people think they'll get rich straight away. Which is why they went to the seminar in the first place, right? You wouldn't sign up to a seminar presented by someone who claims to be able to teach you how to drive in one lesson would you?
No doubt the person above is still buying lottery tickets though?!!!
The anonymous just above really does write like a knowledgetoaction / traders university employee! How else would he even write "Many of the successful people who have followed the course are making 10-20 times that much in a month" ? And if this is true, why doesn't K2A document these people and show us their true, audited earnings?? (when I was asked to sign up, I was told I'd get a discount because they wanted to track our performance officially - but obviously this is another ruse!)
ReplyDeleteJust looking at the poll top-right of this blog: 99 people have voted and only 8% say they've actually made money consistently. All the others are either on par or losing money. So you want us to pay £3,000 to have a 92% chance of losing our trading capital?
That doesn't sound like a great strategy to me. That lottery ticket may be better after all!!
Read your poll again Mike. It clearly states that 42% of people are having success with K2A strategies with 8% making consistent money and 34% making some and losing some (i.e. not losing their original capital). The next 24% are losing but the fact they are persisting suggests they can see the value in the strategies and maybe they are doing something wrong which could easily be sorted if they spoke to their coach. Only 33% have given up and that's probably the same people who follow the bias in this blog.
ReplyDeleteTrading is all about positive thinking and risk management. If you start without one or both of those then you will lose. If you think it's a scam then your results will mimic that belief and you will fail.
Mike, you will never be a winner because your attitude is all wrong. Don't try and bring everyone else to your level.
Hi Anonymous,
ReplyDeleteactually, I am a winner already. Let me just check my profit & loss account: as of now, in 2 years I'm up $350,000. Yes, you read that right.
But I didn't make this following the K2A "strategies". I made this by INVESTING intelligently in the market. This bear markets provided some hugely profitable opportunities (and still does).
So don't try to lecture me about my attitude.
What I do have, is common sense. And my common sense tells me to stay away from knowledge2action. Why? for 2 reasons:
1. If their strategies really work, why do they have to try to con people onto their course with high-pressure sales tactics and hidden cancellation fees?
2. spread-betting may be a way for some people to make money. But the fact is, most people will fail. Most people who follow the course, will also fail. That's the bottom line. course fees, commissions, and the time you spend trying to learn trading all add up.
It would be great if you could post your bank and broker's statements to prove this. After all, if you're so successful, how comes you are aware of these courses? You didn't go to one did you? Because if you were making so much money investing, why would you take up trading?
ReplyDeleteWhat was your initial capital and what have you been investing in?
Some more information would be great before I can believe you.
BTW, investing intelligently is the SAME as trading intelligently. They're both means to make money. All the spread betting part means is that you execute the trade as a bet without taking on a contract, thereby taking advantage of different tax laws and saving on capital gains tax. It's not some voodoo world you enter when spread betting so please don't confuse your readers with such nonsense.
The reason I'm aware of this course is that I don't dismiss things without doing my research or giving them a try.
ReplyDeleteI signed up to a course due to the high-pressure selling. Then I read the conditions and the illegal £500 fee to cancel. That's what helped me make my mind up: if the course was half decent, why would they have to try and trick people!
I don't intend on showing you my bank or trading statements. If you don't want to believe me, that's fine by me. I'm not trying to sell you anything, I have nothing to gain. Unlike K2A with their "real testimonies"
Spread betting is not like investing. in spread-betting, you make short term bets. You don't make long-term investments, because the cost of funding would be too high. Yes some people will make money, but it will be a minority. Yet K2A seem to promise that with their system you're guaranteed to make money. you're not. most people will still lose money.
Why has the person defending K2A not used their name....suppose if they did it would be made up just like their system and figures......i will let you know my story later.............
ReplyDeleteHi Guys, Wake UP! K2A makes money by selling courses to us, they even do not have any full time traders make living purely from stock market trading. Do you understand? Their system is there to trick our money out of our pockets. K2A is a big and very sophisticated SCAM!
ReplyDeleteTrader's University is infamous for producing Stock Market and Forex Trading Losers, they should be renamed as “Loser's University”. If you do not want to be a loser, stay away! It is summarised from this blog and the real experience of the Trader's University graduates.
ReplyDeleteI went on their basic course back in October. I have only recently been able to start making a decent profit. I'm now up by £700 on an account of £10,000 over the past couple of months. Before then I kept floating around my starting level. I achieved this by paying attention to trend lines (as my coach told me to) but I haven't used any of their specific tactics for a long time. In fact if you were to follow their rules strictly there's probably very few trades you could place on a daily basis!
ReplyDeleteI thought the course was a good introduction to trading, albeit overpriced. However, as some people have no doubt found out it is much more difficult than advertised by K2A. The stategies they teach you are used by professional traders (I come across some of them in a book on candlestick patterns) but such people will obviously have a lot more information and experience to assist them. It also helps if the market is constantly heading in one direction - the profits I've made recently coincide with the FTSE shooting up after a few months of oscillation (which was when I wasn't making any money).
For those who are entirely new to spread betting K2A don't tell you about how spreads work and the mechanics of bid/offer prices. They also give the impression that you can enter a trade at exactly the level you want - not true.
What I found most interesting while there was the trading floor - which didn't seem to be particularly full. Are the people who use the trading floor full-time traders? Are they loaded from trading? I didn't see any Aston Martins nearby...
In summary I think K2A give a fairly good introduction to trading but they're definitely overpriced and make it seem much much easier than it is to make good money.
Knowledge to Action.... The only knowledge they provide you with is how to lose your money. There is no way you can spend '20 mins a day' as they claim and make money. Due-dilligance for the markets you want to trade takes hours if you want to be successful.
ReplyDeleteYou all seem a little too fearful to me. Instead of speculating why not just read through your own created comments... Diligently go through them and soon you will see the ones that have actually gone on the course and used the strategies have come up positive. After reading your comments I have decided to take on this course and if I do not make money, at least I have taken the step and responsibility to search out my life not to be with a JOB (Just Over Broke). "The Credit belongs to the man who is actually in the arena…who,
ReplyDeleteat the worst, if he fails, at least he fails while daring greatly, so that
his place shall never be with those cold timid souls who neither knew victory or defeat"
Theodore Roosevelt, in a speech at the Sorborne, 1910
Hi, I must have posted on this blog about 7-8 times. I have now gone on their course and after one month of trading I have made a considerable amount of profit. I have placed 13 trades in total and 11 of them were winners.
ReplyDeleteWith a RR of 1:1 it equals a profit of 9%. I only used one of their strategies (sniper), because it fits around my work schedule.
This will probably be my last posting on this blog, because I am tired of trying to say something positive to people who only want to hear the negative.
I went on the free seminar in November, paid the £2,300 over the intervening months and have spent the last 2 days on the Forex course down in Fulham. I really enjoyed it and while a month's wages is a lot to spend on a 2-day course, I can see the potential in it.
ReplyDeleteI am now going to persevere with this and see where it takes me. I've read this entire thread and I have to laugh at a lot of the posts on here - many of the negative ones exhibit the most horrible spelling and grammar errors and some are typed in full caps, I'm used to seeing these kind of posts on chat forums - usually from illiterate teenagers.
The attitudes of many people on here are incredibly blinkered and, as has been said before, these people will not gain anything from Forex trading using K2A's strategies because they believe that they are rubbish and that this is a scam. That's a self-fulfilling prophecy - if you start off believing that you're going to fail at something, then you WILL fail at it.
I'm going into this completely green, the last thing I ever traded was Top-Trumps cards in the playground 20 years ago! I'm going in with a completely open mind and while I'm not expecting to retire in the next few years, I do not wish to be a salary slave for the rest of my life (I currently work a 50hr week) and I'm inclined to believe, at least until I'm proven wrong, that this course may just have set me on that road.
By the way, I find it amusing that as soon as anyone posts anything positive here about the course or K2A, they are immediately assumed to be a stooge. It's this kind of mentality that comes up with nonsense like the moon landing being faked.
Just so no-one accuses me of working for K2A, my email address is geraintwd@yahoo.co.uk and my mobile number is +44 (0)7976 294 761.
If you want to talk to me to verify that I am in fact a real person and not on the payroll at K2A, feel free to call me. If I'm in the office with the boss standing over me I may ignore the call, in which case leave a message and I will call you back, though I'm sure there are some people here that will point out that this is merely more proof that I'm a K2A employee because I won't take calls while I'm in the office. Of course they won't consider the possiblity that taking random personal calls on my mobile while working to a deadline on a project might be frowned upon by my boss - funnily enough I do want to keep my job, at least until I make enough on trading Forex that I can actually retire!!!!
Geraint Wynne-Davies
I'd like to reply to Mike's post from 2nd March about his claim that spread betting is not investment because the costs are so high.
ReplyDeleteThere are NO real costs in spread betting! NO brokers fees, NO capital gains and NO income tax, (if you have another income and pay tax on that instead).
Brokers make their money from the spread - the difference in the buy and sell price. So as long as the trade moves in the direction that covers the spread then the trade is free. It it doesn't then you have to pay the spread but then again you should have factored that into your risk already.
Spread betting is a great vehicle for increasing an initial capital amount because once you become more profitable at trading (which isn't hard) the winning trades pay for themselves.
Hi Ben,
ReplyDeleteSpread betting is a great vehicle, I agree. For betting. but not for investing.
You say there are "no costs" to spread betting. Then you correct yourself and say that actually, there is a cost within the spread itself.
If you are using spread betting for investing, then you should be studying the terms more closely and thinking again.
In investing, you use your own money to buy something, e.g. a share. You might buy shares in Google because you think that it will continue to grow its profits. Of course in the short term, disruptions like the china dispute could cause the price of the shares to go down: but this doesn't really bother you because you are in this for the long-term: you think that in 2 or 3 years, their profits will be 20%-30% higher simply because more people are spending on the internet. Then mobile search will become big, Google's new products will start making money, broadband will become faster, etc.. and you are confident they will remain as a dominant force in the internet/search market.
If you were to do the same trade with your spread-betting account, you are in effect borrowing money from your broker to buy the underlying instrument (in this case, the Google share) you would be paying something like LIBOR + 4% (depending on your broker) in funding costs on amount you had "invested". This will probably be applied to your account at the end of each month as an "interest" amount.
Right now, interest rates are extremely low due to the crisis, so you'll probably get away with paying about 5% p/a. Before the crisis, this would have been closer to 10%.
So, if my Google shares increased in value by 10% per annum for the next 10 years, I would be standing on a 160% profit from my investment.
Whilst if you were using your spreadbetting account, the 10% per annum would be eroded by your high cost of funding. Even if the historically low interest rates we have now continued for 10 years (unlikely!), you would only have made 60% profit.
After I've paid my trading commissions (£10?) capital gains tax (if I hadn't sheltered my investment in an ISA), I am still way ahead.
So to come back to my original comment, spread-betting is not a very good tool for investing.
It is good only for short-term bets, or for short-term hedging of long positions.
If you hadn't considered the cost of funding when making long-term spread-bets, be very careful, it will come back and burn you!
Short term, nobody can tell you which direction a share will go in - price is too driven by sentiment. But longer term, price is driven by profits. by analysing the company's performance, accounts, balance sheet, etc.. you can have a better idea and stack the odds in your favour.
Use spread-betting for what it was intended: betting, because that's what it it.
Hi Mike, it's called a bet because you enter no contract so the FSA and Inland Revenue consider it to be no more than a bet in technical terms. But the principles of trading are exactly the same as for buying and selling any share, commodity or currency for the intention of making money.
ReplyDeleteDon't be fooled by the term bet. It's just a name but it has no real cost in terms of all the fees you have to pay for entering into full contract style trades such as buying/selling shares or CFD's etc. It is far far cheaper.
Ben,
ReplyDeleteI'm not referring to the "technical" term like you say. Here is the definition of a bet. You will agree this corresponds to what spread-betting is:
"Betting or Gambling is the wagering of money on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Typically, the outcome of the wager is evident within a short period."
Investing will normally be longer term, and as per my post above, spread-betting is not suitable for long-term positions because the cost of funding will erode your profits.
on a short-term trade, spread-betting is cheaper than buying and then selling a share. (short-term trades also have a much more unpredictable outcome, thus the "bet") But on a long-term investment you would be committing financial suicide to use spread-betting.
The cost within the spread IS a "real cost". So if the funding cost (or interest). However most brokers won't be mentioning your cost of funding... because that's where they make their real money.
Why do you keeping going on about long term investment as being better?
ReplyDeleteShort term swings are great to trade. Traders the world over do it day in, day out and make fortunes. It's called swing trading! Even big shares traders will buy and sell within minutes or hours to gain only a few points increase or decrease; at huge profit!
Have you ever heard of 'closing the gap'? Or have you ever seen how price will shoot up when all the moving averages come together on a 5 min chart? Do you know what pivot points are?
If you have a large account and risk 1% of that on any one trade looking to gain only a few points or pips then you can make as much as any long term investment where you are looking for hundreds of points or pips. This is because because your point or pip value is dependent on your trade risk size which is generally larger on long term investments and smaller on short term ones.
So as you say, spread betting is cheaper for the shorter trades and short term trading is just as profitable.
Just accept it.
Ben,
ReplyDeleteI said spread-betting is not the same as investing. You said it was better than investing because there were no costs.
I showed you in my post how spread-betting is not the same as investing. How spread-betting should not be used for long-term positions as there are very real costs.
Investing and spread-betting are two different things, that's all I've said. I've also said spread-betting IS betting. Some people have strategies for blackjack or the roulette, technical analysts have strategies for spread-betting.
Yes I've heard of all those things you mention and more. I actually did an analysis on 5 stocks, going back 5 years, studying gap trading. The outcome was that gap trading was theoretically profitable. However once I had put in trading costs (or spreads), and the time you would have to spend at it, I came out with a loss.
By adding other indicators into the mix it is probably possible to make the gap trading more successful... but I wasn't interested in a "career" in spread-betting so didn't take my analysis further.
Again, all my post was trying to explain was the difference between INVESTING and SPREAD-BETTING.
spread-betting is a form of trading, yes, but not a form of investing.
Get real Mike,
ReplyDeleteYou're trying to pretend that what you do is serious work by using this term "investment" and that anything else is all gambling. ALL TRADING IS A GAMBLE. Don't try and pretend otherwise. But professional traders like professional gamblers use an "edge" and you need that whether you trade short term or long term. And that makes short term trading as much a viable vehicle for "investing", as you like to call it, as anything else.
Those who employ no "edge" are amateur gamblers or amateur traders and they place bets according to your definition above.
You are deliberately trying to confuse the whole argument based upon your misunderstanding of what spreadbetting actually is.
Ben,
ReplyDeleteAll I have sustained since the start is that SPREAD-BETTING is NOT a form of investing. It is a form of TRADING, GAMBLING, BETTING. yes. not investing. So why do you attack me?
you're the one who doesn't understand spread-betting, seeing as you didn't actually understand your real costs!
a "professional" spread-better would understand those, and the difference between investing and trading. They are 2 different activities.
I wish you all the best!
This is the definition of investing according to the dictionary on my imac and on most of the internet dictionaries.
ReplyDeleteInvest: 'the investing of money or capital in order to gain profitable returns, as interest, income, or appreciation in value'.
That is was investing is. It doesn't matter whether you use trading, buying and holding shares, buying bonds or stick it into a high interest bank account. It's all about gaining more financially without doing anything physically in return.
Spread betting comes under that definition and has little cost except the spread and overnight rolling day transactions (only on long positions) and they are minuscule in comparison to the profit. If the trade enters profit then it does so by making up the spread in the first place so effectively once you have entered the trade and it moves in the direction you want it to go the trade costs you no extra (except for those rolling fees like I said - but only if you hold overnight). Now compare that with brokers fees on contractual trades which are charged either side of the deal (i.e. when you buy and then when you sell again) and the levy of CGT. Clearly it pays only to be doing it that way on long term trades.
So spread betting is cheaper for short trades. And as short term trades work in exactly the same way as long term ones (buy low, sell high, or vice versa) then short term trades are investing. Just as the definition above states and you imply yourself.
Mike, you have built this terrible site based on your own misconceptions. You are one of the world's naysayers and you clearly believe your views hold more weight than anyone else's. It's about time you stopped this propaganda and grow up. Go spend a little more time on your "investing" and less time trying to destroy the hopes of others.
It might interest you to know that most brokers will charge additional funds to your account if you've been on a K2A course because they appreciate the value those people will now have to their business. Most amateurs lose their money very quickly because they have no strategy (an "edge") and that means they can no longer use the services of the broker. Brokers therefore prefer those who do use strategies as it keeps them in business.
Ben,
ReplyDeleteGlad to see that you've come round to my point of view about long-term positions not being a good idea with spread-betting due to the exorbitant cost of funding. I'm happy I was able to help you out on that one.
All we seem to disagree on now is the definition of investing. you say "It's all about gaining more financially without doing anything physically in return." And that's exactly right. When I enter into a trade, I'll be buying a good stock and hopefully holding it for years to come. So I'm doing nothing physically in return.
But if you are day-trading, you are spending a few hours every day to do that. So you ARE doing something physically in return. By the end of the year, that'll be a lot of hours! According to your own definition, this is no longer "investing". Most people call it "work".
BTW this isn't my website, not sure why you would think it is, but I did have a bad K2A experience like most people who have left a comment on here.
At the end of the day, whether or not you can make a profit with spread-betting is not the issue: the issue most people on this blog are having is that K2A is trying to con them by promising unrealistic ojectives and with well-hidden, probably illegal terms and conditions.
That's not what I said so please don't twist my words.
ReplyDeleteSpread betting is cheaper all round, especially so on short term trades. The costs for contractual trades are high so it pays only to do it for long term trades only.
You only need one trade a day to make a very good living with spread betting. How does that constitute doing lots of work?
Ok, I went to a K2A seminar on sunday, and needless to say, I was surprised when I was told that I had to pay that day to get the discounted rate and wouldn't find that prise again!!!
ReplyDeleteI won't Knock K2A, they may be good at what they do. But what I find hard to believe is that you can be a good spread betting trader with two days of intensive training???
I think you need a minimum of more like 'two weeks', any body agree.
Anyways, I will do more research before I even contemplate joining K2A, but if any of their traders are around, visit this blog and put the minds of all these hopefull people who have joined or thought of joining your company at peace.
Hello All.
ReplyDeleteI have been trading now for 14 months after a friend introduced me to the idea. At the time he was working K2A as a mentor and as an instructor. He was trading their stocks system very successfully but has not completed the forex courses. He has left the company but does keep in contact with previous trainers and they do now speak very derisively about the techniques now being taught by K2A. I personally did not use K2A for my training, if you’re serious about learning to trade then I will assume that you have been doing some serious research into companies that will be able to assist you in learning, i won't post a link but if you haven’t come across them yet it is well worth researching Trade With Precision - I honestly can't praise them highly enough. If you’d like more info on why feel free to ask.
Happy trading
Hello guys,
ReplyDeleteMy boyfriend signed up for the course without doing any research on the company. He decided not to take it because of all the controversy in this blog.
We are now trying to refund the money, I would appreciate if someone could send me a sample letter on how to claim full refund.
Thank you!
My email is: KseniaSossak@hotmail.co.uk
Can someone send me a sample letter to claim full refund.
Hi, there is a sample letter on this blog which worked for me. You should also phone or email them immediately, and make a note of the date & who you spoke to.
ReplyDeletecheck this post out:
http://knowledgetoaction.blogspot.com/2009_03_01_archive.html
Interesting discussion on above on long term spread trades.
ReplyDeleteI was thinking of a similar stratergy.
Here's an example Nikkei approaching the 11000 level (was as high as 40000 in 1989).
Assuming a successful entry at 11000 (waiting for price to break through that level of resistance and then confirm it as support) so say entry at approx 11050 at £10.00 per point with a stop at 10,900 would = £1500 risk. assuming after say 3 months the market had moved upto say 11500 and settled at that level confirming more support the gain would be 11500 - 11050 = 450 point x £10 = £4500. (triple the initial risk and a tax free gain). At this level one could assume that the initial stop loss could be raised to the 11050 entry level (now eliminating any LOSS risk). Now your position is using someone elses money. If this similar process was used over the next 10 years (moving stops up every 3-6 months to a hopefully safe level)assuming the Nikkei rose to 20000 level by 2020 (stll half the level it was in 1989 (30 years previous) the gain at £10 per point would be £95,000. tax free.
Now to have gained that kind of money with an investment you would have to have invested an initial lump sum of £100k.
This example shows the power of leverage.
However it doesn't take into account any fees for 'borrowing' the 100k investment you're effectively trading with at £10 per point.
Neither does it take into account the fact that getting stopped out is quite a high liklihood and in the very early stages of entering the trade will cost you £1500 (in this example) each time you get stopped out. And of course if you get stopped out you have to start all over again (£1500 down each time)
With regard to K2A they'll claim that you can loose 7/10 trades and still make a profit based on a risk reward ratio of 3:1 and not gambling more than 1% of you trading fund on each position.
Truth is you will probably loose that many times and even if you've calculated a 3:1 risk reward position the chances of that trade achieving it before you get stopped out are low.
Usin a system like theirs will keep you in the game longer than someone with no training. But for the money 2 days isn't long enough and half of that time will be spent selling you the next course.
It's a pity they are the way they are, but teaching people 'properly' probably isn't as profitable as scamming the gullible.
Anyone whose intersted and thinks it looks easy, open a trading a ccount (it's free) with IG index for example who have a basic charting package.
Now look at a share price in a daily time frame and draw a line along the levels of support and resistance.
Now reduce the time frame down to say 1 hour and see how often the share price actually went outside your lines of support and resistance.
Re-draw the lines in that time frame and reduce the timeframe agin.
What you'll find it what looked easy becomes increasing difficult to open and hold a position without getting stopped out.
If you watch a chart for a while you'll see that often before a 'big' move down from a key level of support, the price will often move down first (to activate obvious trades), then up far enough to take out most stops attached to those trades, then continue it's move down.
Very hard in practice to be in on big moves whilst maintaining a 1% risk.
Interested in feedback on my 'long term example above'
Hi,
ReplyDeleteI attended a free seminar today in trafalgar square organised by traders university.
I did not know nothing about trading before today ( and at the end of it i still dont nothing at all about it...) and i have been really amazed and tempted to go further with them. The amount they ask for to start with them is HUGE and even though i did not give them any money today i agreed to go to their office in fulham tomorrow morning to give the 500£ deposit to get started.
I was really keen on doing that, but now that i have done a bit of research on the internet and read some feedback i am not so sure about it.
My question is: i did not give them any money nor gave them my bank card details, but i signed the contract saying that i will bring the money cash at their office in the morning. I changed my mind do i still have to go pay them? if i dont do i have to write a letter within 7 days or can i just froget about it n throw the contract in the trash?
PS: after i read yr blog i checked on the back of the paper and INDEED there is a contract on the back of it and i would probably not have noticed if it wasnt for this blog so THANK YOU
Hi,
ReplyDeleteGlad you found our blog. We were in a similar situation to you when we set it up to help other people who are being conned.
Legally, yes you should "cancel" your contract within 7 days. At least by phone, but email or letter would be better.
Odds are, even if you did not cancel they will never chase you for the money as doing so would be too expensive. But be on the safe side anyway, and cancel.
Mark.
thank you very much for your quick answer.
ReplyDeleteCould you please email me what i have to say on the letter or the email because i have no idea of what terms i should use...
jubbi_mi@hotmail.com
thank you.
Hi,
ReplyDeleteyes, there is a sample letter here..obviously it needs to be adapted for your own situation!
http://knowledgetoaction.blogspot.com/2009_03_01_archive.html
I went on the full course earlier this year and have been extremely disappointed with the results.
ReplyDeleteI wouldn't say it is a scam per se, as you definitely learn plenty of basics about trading, and the coach who you get after the course has been helpful.
For me, the problem is you simply can't expect to make money in trading after a 2 day course. That's just common sense. It will take many months if not years to understand the market well enough to consistently make money.
I would say if you have plenty of money (enough not to miss the 2k), and the time and inclination to throw yourself into trading then it was a pretty good introduction to trading. Not worth 2k by any stretch, but for those of you out there for whom it would be a stretch, and those pinning your hopes on being financially free ... don't bother as you'll end up disappointed and in a worse financial situation.
Hi Guys,
ReplyDeleteAll I can say is if you want to be successful as a trader and believe in youself and I mean truly belive in yourself these guys can help you. I knew nothing about trading 6 months ago but after taking their course and persisting Im consistently making 5% per week. Yes I did lose money in the beginning due to inexperience and am still learning. I can only see upside from here.
The one question I ask all of you that have quit or are really negative:
Are you successful in what it is your doing or are you still searching for that get rich scheme??????
Not to mention I heard rumours this site is run by one of Knowledge To Actions competitors. I suggest everyone goes out and makes their own UNBIASED opinion.
Mike was that an April Fools joke
ReplyDeleteNice one Anonymous!
ReplyDeleteYeah, Mike, and where exactly did you hear rumours this site is run by Knowledge to Action competitors, down the pub?? Is this site really so famous that the whole world is talking about it now? Get real!
The site was obviously created by a K2A "customer" who got burnt by their sales technique - like so many others.
The guy seems to have done a good job to alert other of the dangers of K2A and similar institutions, well done!
I saved myself £3000 thanks to this blog!
I have been at K2A's seminar in February this year. I thought 2K was too much for 2 days trading. You can't possibly start trading after 2 days training. Any way they teach you about trading and not how to trade.
ReplyDeleteI am sure all of us want to trade making money and not to learn about what forex is and learn the lingo.
I did some research on the net and found a company that teach you how to trade forex and all the mumbo jumbo what forex is all about. I have enrolled onto their 4 week course and do it at the comfort of my home everyday and have their support all the way, and only cost me quarter of what K2A ask. I did not find any bad reviews on the net of this company.
Go on the net and do some research, it pays off.
I think everyone needs to wake up and realise this is a dodgy operation. The owners have moved to Australia and no longer live in the UK. A good percentage of their staff are South African, Australian, etc. on Commonwealth visas, which would lead me to believe they may even have illegals working for them. I think this basically is a cash grab, and now that the owners have the cash they want, they have emmigrated to Australia and will continue their scam there, until they move onto another country.
ReplyDeleteI Attended the Knowledge to Action seminar about a year ago. The junk email sales letter promised that those who attended would learn three trading systems. This of course was total BS as they didn't reveal anything of substance.
ReplyDeleteAnyway, since then i have met two people who actually paid the £3000 course fee... You'll find that K2A push people to start an account with Saxo Bank and are urged to deposit a minimum of $10,000. Do the words "Introducing Broker" mean anything to K2A, yes i thought so.
So, the scam goes like this: K2A charge you £3,000 for 3 trading systems that dont work consistantly, (yes they show you all the amzing previous profitable trades of course) then, as a new trader with no *real* trading experience you blow up your account. K2A and Saxo Bank get all your money. A simple, but effective scam.
£3K + £6K ($10K) = thats approx £9000 they will rip you off for.
To rub salt in the wounds, you can pay about £10K in total course fees for their "master trader" course... more of the same BS really.
Do you *really* think you are going to become a Pro Forex Trader after a 2 day course? It ain't gonna happen - GET REAL PEOPLE COME ON!
Be warned - please DO NOT fall for the great "Knowledge to Action SCAM". That is all your honour.
A previous poster said that people dont give stuff away for free... yes they do. Forget all about "knowledge to poverty"... then remove ALL the conflicting and confusing indicators from your charts and get over to the infamous "James16" thread on ForexFactory.com
ReplyDeleteKeep the 2 grand course fee, spend it on a holiday and a wireless laptop and read the entire thread at
http://www.forexfactory.com/showthread.php?t=2331
This is about actually learning to read what the chart is telling you, not trading like some zombie robot when a moving average crosses over or whatever... PRICE ACTION - thats what real traders use to slaughter the 95 percenters day in and day out :)
"PRICE ACTION"
Whats the price for this priceless nugget of info? ZERO $0.00.
hI
ReplyDeleteCAN YOU PLEASE SUGEST WHERE TO START AND WHERE TO STOP READING THE ABOVE THREAD.tHERE'S ABOUT 23000 OF PIECES TO READ AND I MIGHT NEED 10 YRS FOR THAT.yOU DON'T REALLY HELP PEOPLE BY THROWING A BIBLE VOLUME AND TELL THEM HELP FIND JESUS YOURSELF.ANY PARTICULAR AREA OR THREADS WWE CAN CONCENTRATE ON---
I have gone through your site information and it is the same oppertunity that i was looking for. The faclities ,the process that what you are offering, are perfeetly mathet to my expectation,& verysoon you will get responce from my side.
ReplyDeletedistance learning
Hi everyone,
ReplyDeletebeen reading the above comments and i signed up for the forex 2 day training course for end of march, this was in febuary and now i've changed my mind. I also paid the £500 deposit and have recieved the dvds, and have watched them but judging from them if that is what they teach then as ppl say then i'm going to have to do a lot more research into trading....which in my opinion kind of defeats the object of the course. Especially for another 2k, soo what i want to know is can i still back out and if i can get my money back??
Thanks everyone,
Nadeem from newcastle upon tyne,
ps is there anyone local who's been to the course???And wants to meet up and talk about it!!!
thanks again
I have a degree and masters from Oxford University and currently doing a PhD on Mergers and Acquisitions. I write this because I cannot bear to see people essentially robbed.
ReplyDeleteI attended a free seminar with my mother and father. In my opinion I believe it to be a scam, quite funny in fact to sit there and watch, professors would have a field day. Without going deeply into the theoretical components, because quite frankly you could write a PhD on the aspects they cover and still never come to a concise conclusion. Yes you can potentially beat the stock market and potentially through software some merits have been found. But they significantly over simplify the complexity! Firstly you have Einstein’s random walk theory under which you can argue ultimately stock prices move randomly. More recently you then have the work of Fama’s three forms of market efficiency under which you can potentially beat the stock market, but by no means under the levels of certainty they claim, realistically you would need many years of highly complex training and there would still be no guarantees.
In all honestly please hold onto your money and do not risk it with them, they are essentially targeting people who are out of work potentially with redundancy capital to invest. They create an illusion and play on your hopes and dreams with their creative imagery. If you have the money to lose then go for it, it may well be successful, however I strongly doubt it.
The so called trader who given the seminar to me did not seem significantly wealthy, simply put, I have a Porsche GT3, although I do not know what car he drove, my car was the most expensive in the car park, actions speak far louder than words. I would expect someone who was so keen to show off in the seminar to have actual tangible aspects to show off with.
I have a degree and masters from Oxford University and currently doing a PhD on Mergers and Acquisitions.
ReplyDeleteI attended a free seminar with my mother and father. In my opinion I believe it to be a scam, quite funny in fact to sit there and watch, professors would have a field day. Without going deeply into the theoretical components, because quite frankly you could write a PhD on the aspects they cover and still never come to a concise conclusion. Yes you can potentially beat the stock market and potentially through software some merits have been found. But they significantly over simplify the complexity! Firstly you have Einstein’s random walk theory under which you can argue ultimately stock prices move randomly. More recently you then have the work of Fama’s three forms of market efficiency under which you can potentially beat the stock market, but by no means under the levels of certainty they claim, realistically you would need many years of highly complex training and there would still be no guarantees.
In all honestly please hold onto your money and do not risk it with them, they are essentially targeting people who are out of work potentially with redundancy capital to invest. They create an illusion and play on your hopes and dreams with their creative imagery. If you have the money to lose then go for it, it may well be successful, however I strongly doubt it.
The so called trader who given the seminar to me did not seem significantly wealthy, simply put, I have a Porsche GT3, although I do not know what car he drove, my car was the most expensive in the car park, actions speak far louder than words. I would expect someone who was so keen to show off in the seminar to have actual tangible aspects to show off with.
IN MY OPINION A SCAM, FROM AN OXFORD UNIVERSITY GRADUATE; very successful in trading!
ReplyDeleteFact File
ReplyDeleteDirectors address
Imperial Wharf Lensbury Avenue London SW6 2GY
Gregory John Secker age 35 born 18-02-1975
Sara Secker " 36 " 25-07-1974
"Knowledge to Action Ltd" reg no 04840493
Networth year ended 31-12-2008 = £514,615
Shareholder initial capital £100
"Live Floor Trading Ltd"
Same Directors as above
Share capital £200,000
Company NEVER traded.
The UK stock market trading day starts at 8.0am and finishes 4.30pm. Monday to Friday.
If you attend a course at the weekend,obviously you will not have live trading to see how the market works.
A very experienced stock market professional
Hi
ReplyDeletethis guy from oxford uni seems to know what he is talking about.
i run high profitable businesses and am always on a lookout for new ideas.I went on the K2A course about a year ago and i have spent a lot of time researching this whole affair.Every big shot was talking big but no one was willing to show there lifestyle came actually from trading.
I opened up my bank accounts,a fleet of posh cars on my multimillion pound house drive, to a couple of them and challenged them to do the same.They simply called themselves some kind of professionals who don't get involved in anything like that.
I have made and lost money almost everyday and at the end I found it just like a hobby which can be a dangerous one.If i look at my overall experience i haven't won or lost in terms of money but I definately have lost lot of time to it and i am putting a stop to it now.This whole affair is just not as fruitfull as they promise.
i am aware that some people make a living out of it but these people didn't go any of these courses.
someone told me ' There's two kind of people here--the market makers and the market chasers. you are a chaser and i don't see how you can be brought into the group of market makers with all your wealth. Remember! the chaser's wealth most of the time ends up on the market makers side'.His words haunt me to this day. is there anyone who can elaborate on above words because i can't seem to trace this guy after a big party.
You have to ask yourself the question: If Greg Secker was such a hotshot trader then why would he be running a trading school - rather than just trading himself?
ReplyDeleteMaybe to diversify? Share his knowledge among the masse? I don't think so. It's a great money making scheme feeding off the "vulnerable" non-city types who think trading the markets is a free ticket to an early retirement - or in this case not so free.
Everyone knows a sucker sale when they see one, perhaps not straight away but in time. My only advice would be that if you are parting with this kind of money - go home and think about it first.
If you can't take the contract home to look at it then it's probably not worth the paper it's written on. The old adage "there's no such thing as a free lunch" rings true. I feel sorry for anyone who has parted with their hard-earned money.
If anyone is unfortunate enough to meet this snake, ask him exactly what investment bank he worked for. Expect a few "errrr's".
Hi PPl,
ReplyDeleteI was wondering as i gave my deposit in feb 10 whether i can still get this back as i've recieved the dvd's. I haven't signed anything but did agree over phone but after reading all the comments posted have now changed my mind.
And if i can then how i can go about this, ps i think that they have also taken out a £1000 out of my a/c without informing me which has really put me in sh** creek as my morgage was due to come today and now I don't have the funds in my bank to pay for it....are they allowed to do this???
any help is greatly appreciated!!!
nadeem
I Attended the Knowledge to Action seminar in Australia, but I did not sign up as they wanted, thought I'd better check them out first. Glad I did ! I'll just stay with options trading, thanks for the blog lads.
ReplyDeleteDid you know that K2A actually has a page on their website titled: 'The Trading Scam: What To Look Out For'. Never heard so much rubbish and hyprocrisy in my life. By the way they have a testimonial by someone called Alan Kingdon however they fail to mention that he who worked for them.
ReplyDeleteHi everyone,
ReplyDeleteI'm not a trader, I'm not in the financial industry. I work in the same office building as K2A (for a different company).
All I have to say is that, their training room downstairs is ALWAYS packed!!
A couple of months ago, the room downstairs got a 'make over', which, being the nosey person I am, I wanted to find out about the company moving downstairs, so I spoke to one of our security guards. When I heard how much they were charging, I couldn't believe that people would actually be willing to part with their money for something which we all now is a risk.
You don't have to be a trader to know that trading is a risk (full stop!). Some have the heart for it, others (like myself don't)
Something just didn't 'sit' right with me.... I often hear some of their 'students' talking amongst themselves in the ladies. One time, a lady was telling 2 others that this was her 2nd time on the course, because it's so 'good'.
Being the novice that I am, I thought to myself, well if it was that good the first time round, why do you need to attend again???? Part of me thinks that they may hire some actors or have their own staff members 'mixing' with the crowd.
And to think people are still parting with their money. Walking into the building this morning, K2A had a full training room :-(
Like an old African saying 'common sense isn't so common'!
Knowledge to Action are now the subject of an FSA alert, its advises that they are not regulated and are targeting UK investors. Additionally in 2009 the Advertising Standards Authority sanctioned them for misleading advertising. If anybody is still seriously thinking about paying them for training then you probable deserve to lose your money.
ReplyDeletehttp://www.fsa.gov.uk/pages/Doing/Regulated/Law/pdf/knowledge.pdf
Hi there,
ReplyDeleteIs there anyway to get your money back from them if you've paid and haven't been on the cousre???
Thanks
If it's any help I posted this review of K2A on my blog: http://fxintradayjim.wordpress.com/
ReplyDeleteI had already decided that I was going to attend some formal forex course to help me with my personal Forex Trading Journey when I went along to one of Knowledge to Actions (K2A) 2 hour free seminar in Cambridge at the end of January 2010.
First impressions was that this was a sales pitch and nothing else; the guys were dressed in poorly tailored suits which didn’t go to meet peoples expectations that we would meet successful traders earning a mint. Of course since realised you can be trading very well and not be earning fortunes, but the first impression in any case was what I or the other 20 or so people expected.
The guy (Paul I think his name was), did a relatively good job explaining the forex market and it was possible to make money from the market. He handled the usual questions on “this can’t be true”, “this is gambling”, if you are a successful trader why are you doing this” quite well. He did boast a little too much on how his 12 year old daughter trades and how he likes to take his family out for a £500 meal and likes to have his suits made whilst being served coffee.
At the end of the seminar in which he gave no real idea as to what strategies one would follow to make money they came out with sell. For £2000 + vat (disc from £3000) you’d get a 2 day Forex Training course, 3 coaching sessions of 30mins each and a Greg Secker DVD set. I had money that I had to use for retraining (any nothing else) so I went for it.
2 Day Forex Seminar
The 2 day seminar at their place in Fulham was interesting. The course was packed with 30 other people and we were all given a manual which contained 3 of Greg Seckers strategies that he teaches on the course. 1 for end of day and 2 intra day.
The Good bits :
1. The instructor was laid back, fun, interesting and had a few of trading ideas over and above the ones in the manual
2. The course went from “this is a candle” level to brief mentions of Fibonacci
3. Relaxed and motivating atmosphere
4. Easy to follow step by step guide as to how to implement each strategy
5. Good overviews of the forex market and how it works
The Could do better bits :
1. No food given !!! For £1000 /day per person you think they could stretch to a sandwich!
2. Because it starts from basic principles it can be slow for some people, but then moves quite quickly during the day leaving the slower ones behind.
3. There is nothing in the course that you cannot read in a few £20 books and read for free on the internet
4. It is overpriced. It is priced at this level, in my view as people must think “if its this much; it must be good”. I have since seen similar courses for a less than half what K2A charge.
Finally; if you have the spare money for training from redundancy like I did look good and hard at the other options. If not, you can DIY by reading and finding some top up courses elsewhere that can really get you moving intpo trading. For me, K2A, even though was not value for money, it got me going.
Jimmy
I did the course in November and traded for 4 months before realising it wasn't worth continuing. I gave it a fair shot and to begin with did make about £800 profit but then i had 6 weeks of carnage. You have to pay about £90 per month for e signal as well. All in all i paid £2300 for the course and 3 free coaching sessions with a NOT VERY GOOD coach. Paid e signal around £440 and lost about £2500 trading. Over 5 grand written off. I bet on a semi pro basis on horses and sport and it is a lot easier to make money this way. I've been doing this for 20 years and this is what i'll stick to. Take notice of this DO NOT WASTE your money on 1 of these courses YOU WILL REGRET IT. Anybody wanting to e mail me feel free to do so at euan150@yahoo.co.uk if you would like advice on how to make money from betting. It isn't that difficult. The only problem is actually getting bets on with the so called bookmakers. After a while if you win consistently they will close your account or restrict your bets.
ReplyDeleteThe Knowledge To Action Truths:
ReplyDeleteHaving been employed by K2A i am aware of the level of scam that they use for their business-
1. The trader coaches who teach you how to trade are only asked for sales experience when they go for the job, none of them have to be able to trade (great to know that you are being coached by complete novices who cant produce results themselves)
2. The people who teach the actual courses again cant trade either, none of them could provide proven track records for their trading as they don't have any.
3. Most of the K2A strategies/courses have been put together by downloading information from the internet none of the strategies have actually been back tested to see whether they work or not.
4. The FSA have a warning on their website regarding the K2A business as they arent allowed to give any information regarding trades because they arent FSA regulated and never will be. The FSA looked into their business and found it to be completely unreliable.
Anyone considering learning how to trade do not be overcome with any of the crap given to you about a make loads of money scheme. I have finally become a successful trader but it has taken me time and a lot of learning and understanding the economics of trading there are other courses out there that can teach this information so I would recommend that you look for courses run by people where you actually get to trade alongside them and see exactly how they do it.
K2A is a scam. I have done a 4 week course through www.forextraingworks.com at the comfort of my home,and have to admit no one will find a better course in the world. It only cost me £580. Visit their website, it is worth the while and they are for real and honest.
ReplyDeletei signed up 6 months ago but haevnt paid my full 2300 pounds but have already put in 1500 pounds after some advice i have been told its not worth it.i have not rang yet regarding the refund but im scared how to go about it,CAN ANY ONE HELP?HOW DO I CLAIM THE 1500 POUNDS?
ReplyDeleteHi guys,
ReplyDeleteI went to the K2A seminar in London last week and on reflection it played out in exactly the manner most of you have described - a high pressure sale where you are pushed into sigining up with the promise of there being POSSIBLY millions of pounds on the horizon.
As a novice trader I did a little bit of prep and with the attitiude I have about the FX market I came up with my own thoughts on how to approach it . .
1. Only trade with a tiny percentage of my account - even if a I make just £20 call it a day
2. Accept the fact that I will make losses along the way
3. Accept the fact that I will make money only IN THE LONG RUN.
Through all the nice bright presentations and high pressure sales techniques, I discovered that . . you've guessed it . . the course is simply selling the three points above, all of which are based on common sense. NOT WORTH £3K