I'm starting this thread to ask about the legitimacy of this course.

http://wealth-mentors.com/

The ads usually appear in the newspapers.

Basically it's around RM 18,000+ to take the full course. Is this course worth the money?

Are there any students here who have managed to use the system successfully?

This post has been edited by Polaris: Apr 8 2008, 03:33 AM

just google up, but don't go to her own site, go to 3rd party sites instead like a forum and read reviews about her. but I can't even find her wiki page....so much for an investor who charge so expensive for a course.

singaporeans seema to pay SD15k for the whole course

but again...not every investment style works for every investor.

Agreed with Ah Suknat. Not every investment style works for every one.

I know people who have attended her course. Based on the normal curve, out of 1000 students, maybe around 5 will be able to make it to the top over the long term.

This would applicable for other courses organized by other gurus.

Good luck.

Now adays there r lots of so call investment gurus. Saw in The Star today and the preview is only less than RM100 but when I went to the webbie to chk it out, the whole course actually cost US$2,988 .

If you are serious about trading, you need to attend some course that you can afford. Otherwise you may pay your tuition to the market anyway. For those cheap courses, you can get the info free anyway....

Trading is a journey. You cannot stop learning. The day you think you know everything is the day the market slaps you.

Happy exploring...

wow RM18k...is even more expensive than freely

So basically, b4 we make $$ the mentor ody make tons of $$ from his talk ody.

Yes, you are right. That's why you need to sniff out mentors/gurus that are genuinely interested to make you a success and those who are not.

But also bear in mind that a lot of success depends on the individual trader as the key to become a successful trader is to understand your own emotion/psychology as well as market psychology. Whatever trading strategies you learned only form a portion of your success.

Good luck.

Could the stuff being taught in this course be obtained by reading books on options trading?

I'm one of Mirriam Macwilliams students. I attended in Oct 08 and there were more than 100 students in my batch. I would say that not everyone will succeed after a seminar, a lot depends on the determination of the individual. You need to keep practicing to polish up your skills; be it options trading or anything else.

What I like most about Mirriam is that she makes everything so easy to understand. I could get her concepts eventhough i've not bought a single stock in my life, be it US or local stocks/options. It was definitely helpful for a beginner like me. Wealth Mentors is a huge community, with many graduates coming back to share their experiences with newbies.

They do have weekly coaching support and monthly newsletter & meetings open to all graduates. I find it helpful as Mirriam will share her outlook of the current market with all her students. It is at the weekly coaching sessions that I was able to get hold of the strategies taught during the seminar. Not every graduate can attend the after-seminar coaching sessions due to work or family matters, that is why everyone progress at different levels.

If you are someone keen on mastering options trading, it's advisable to learn from a reputable guru. It does save you from losing money to the market.

Interested to know more, do drop me an email sh3rli@hotmail.com. Happy to share!

This post has been edited by sh3rli: Dec 12 2009, 05:40 PM

So far I read 4-5 books write by Robert T. Kiyosaki including the famous book "Rich Dad Poor Dad". My understanding regarding the option trading is this technique is most likely resemble technical investor. They can read the pattern of the graph and predict the up and down of the stock market. However, to become the 'real' investor or professional investor or insider investor, we have to learn from the basic knowledge. Otherwise, we will end up being the 'gambler' in stock market.
I think, the best thing for me, to find as many as possible the books about the share trade, read it, and learn all the basic, principles and fundamental of share trading.
One of the claim from the promotion of Mirriam Mac Williams is that they claimed "how to get high returns with low risks without analyzing financial reports and news"....I think this against the basic rules of the professional investor.
Anyway, I agree that she make a lot of money, maybe majority of the money from the high paid seminar and course rather than trade option

How to sniff out if we have zero knowledge?

I have attended one of Mirriam Macwilliams' options trading seminar a few years ago and I would like to give my honest opinion here.
The seminar consist of 4 days live training with Mirriam & Aaron (the CEO of Wealth Mentors) followed by a 6 months coaching program thereafter.

Let's first talk about the 4 days live training. This is usually held in the Grand Dorsett Hotel in Subang, I know because everytime I go back for a refresher, it's at the same place. I do not know why the organizers, Wealth Mentors choose to run the program at this hotel. The venue is very old, toilets are dirty and doors are squeaking with noise. In the 4 days training, participants will learn about the basics of stocks & options, about 4 of mirriam's strategies, some of her stories here and there, etc. Participants will be taught how to open an account with Think or Swim (US broker) and also to set up the charts. From what I can see, the energy is always very positive when Mirriam is speaking and this goes on until the end of 4 days. Mirriam is the one to explain the strategies and Aaron is the one to explain about the finer details like how option works, charting etc. They make a good combination.

Some of the setbacks of the 4 days live training :
1. Most participants get very confused after 4 days of workshop
2. Some of them don't even know how to start trading after the workshop
3. There is not enough time during the 4 days for hands-on practice
4. Participants are served full vegetarian meals for 4 days, simply because the trainers are vegetarian
5. There are not enough people (so-called past graduates) to assist
6. The notes are really all over the place, not structured and not systematic
7. The organizers don't provide free-flow of wifi, participants are expected to bring their own mobile broadband
8. Mirriam's accent can be difficult to follow, especially when she speaks too fast

After the 4 days live training, there will be a 6-months coaching program provided. The coaching includes email, phone, skype support, weekly support sessions at puchong, live webinar with Mirriam every month, weekly alerts from Mirriam, forum, and one-to-one coaching with the coach. The most helpful one is the one-to-one coaching session, as you can get all your questions cleared out at one session.

Some of the setbacks of the 6 months coaching program :
1. Emails may take a few days to be replied. By the time I get a reply, it's irrelevant already.
2. Phone calls on certain days are not attended immediately. The coach will return the call, so have to wait and wait.
3. The weekly support sessions on Monday evenings are very full. When the group gets too big, some people start chit-chatting and this disturbs those who are trying to concentrate.
4. The trainer for the support sessions speaks too soft & slowly. Lack of enthusiasm.
5. The weekly alerts from Mirriam are very general stuff, like a holiday is coming up in US & avoid trading. There is no tips on what to buy and what to look out for.
6. I feel that they are lacking of coaches. If you call up the office and ask to speak to a coach, they will take your number and ask the coach to return call. If you ask them how many coaches they have, they probably can't answer exactly. The staff at the office can't answer simple question on trading, because most of the office staff are not traders. That makes me wonder, if it's really so good, how come the organizers' staff are not trading?
7. The 6-months access to all these support & tools are free, however if you want to continue to access all this, you need to pay a subscription fee of USD50/month. That is a lot of money, considering the fact that I still can't make consistent money after 6 months!!
8. The refresher course is very expensive, RM300/day.

I see that the organizers are very profit-oriented, before you sign up for the program, everything is ideal and perfect. After you sign up for the course, everything seems to be the opposite. Do you know that the people at the preview, supposedly graduates who volunteer their time to help out, are actually paid a commission if you sign up? I'm not sure how much, but i believe it's a huge amount considering that the price of the course is close to RM12,000. I was silly enough to believe the graduates and thought that this is a great opportunity. I believed that since the trainer has appeared in numerous newspapers and tv interviews, it must be the real thing! I was so wrong.

When you search the internet, you will find nothing but good remarks about this course/trainer. No one likes to share when they have made a wrong decision, most will only blame themselves and not the organizer for failure to make money from this seminar. The reason i'm sharing this is because I want those who are considering the seminar to do your own due diligence before signing up blindly. If I were to read honest opinions of past graduates, I would not have attended this course. I believe that everyone deserves the right to know the truth. RM12,000 is not a small sum to be wasted just like that.

I've also went to a "preview" of this, and yes, the scheduled 4 days training was to be held in SJ too, either Grand Dorsett or Holiday Villa - i can't recall.

It was very easy (imho) to spot the "Sales orientation" rather than training orientation (apologies to those who find it good):
1. The "volunteer graduates" are paid some commission. In addition, they mostly (not all) know nuts compared to an active trader with their own systems / methodologies of entries & exits from trading non-options. Even a neophyte may know more than some of these "graduates" in terms REASONING of the methodologies - which, imho, are the most important element of any types of trade.

2. When it is STATED that there are "volunteers" coming back to "help out", U know that the methodologies taught aint working well - if they were, would they be back to help out FOC (supposedly)? I'm sure doing good and good karma comes back to U but via such a channel meh? Donate the $ lar better.

3. The BIGGEST in my face thing jumping around was: It's so easy, xx minutes a day cukup + the "now now now discount! & easy payment".
Alo, if it's true and it's a near sure thing - then why would they be selling the methodology instead of making a killing every day (or whenever there's no holidays, Feds' announcements, etc.)? Options wor, HUGE leverage wor. The "preview" made it sound as though "leverage" is a sure win / +ve thing WITHOUT highlighting that it's a double-edged sword - it can kill U easily if you're on the wrong end. No mention on REASONINGs and Interpretation / Analysis was said - just follow the 20+ counters that Guru-ji says to track and trade those.

end of "Guru-jis BS filter"
Oh btw, for RM14K to RM20K - I'd have bought several basics to advance options trading books + learned hands-on liao. Note - either the above or self-education, your mileage may vary (drastically in some cases)

This post has been edited by wongmunkeong: May 23 2011, 12:24 PM

Don't go for it, you'll regret after after the course. Speaking from personal experience.

So many So call Guru of investment in properties, stocks, options, etc. etc.

And all they did was make profit from one or two investment, then make more money from the course they are giving rather than investing.

Totally bullshxt, I must say.

12k for the full course? i think 4 days won't turn you from zero to hero. trading need experience and good judgement.

anyone can tell me why choose to trade option and not forex?

i have the same question,..im forex trader, and i trade at mamak sometimes, and at the place i hangout for trading, theres a chinese uncle trading stock option,..i see the charts a simmiliar to my forex chart,.but there must be differences.but stock option course are really expensive!! u see for 14k i can used it as my deposit to start traading forex and can generate atleast usd70-150 a day by just learning and knowing basic forex trading strategy (resistence, support, pivot, long term trend, short term trend, SL,MM,TP)...

hi wong, i agree with most of the points you make and all i can say is that this is the nature of the training business, and i feel the "problem" is that none of the companies involved is willing to market it differently because it is almost impossible to guarantee success. Leveraged products are high risk investments and definitely not easy to master. I have attended one such workshop by another and have so far so good combined with other critical factors, been able to trade consistently and that is after 3 solid years of hard work. No short cuts.

Your 2nd point, i beg to differ.

I also volunteered a number of times for my guru on 2 main reasons, firstly, to assist out of friendship and mentorship, secondly, i thought it appropriate that we should share the difficulty in the trading journey through our real life experiences.

These are my humble experiences.



edyek,

not total bullshit (though i agree a lot of it is bullshit) i would say ..

I believe these sort of things comes in 2 sides. First, there are definitely a lot of courses built on hype. Secondly, many people just simply love these sort of hype.

There have been successes but what people fail to see most of the times is that those successes did not come easy for those who have been successful. Many trading wannabes need to reign in their desires and over zealousness when looking for gurus. Making money is not an easy game, what more the game is trading of margin products.

12k is way too expensive for such a call. I picked up a book called Covered Call, spend a week to read it, and went into market with USD3k.Then after, I made -3% to 5%(only once) per month, and 1 year now, I got 30% return, that's including Forex loss.

Next I read some books on Technical analysis, went into CPO futures with 10k, and left with 7k now.

For 12 to 18k, you can learn a lot from the market...