Hi everybody! Here's my take and hope it helps. I took the course Oct.2010, traded with 'paper' money from the brokerage site for 5 mths; then went 'live' March this year. Depending on the size of your trades, over time, you DO recoup your 'school fees'. For me, I took a little over 1 month to do that. Then, because I didn't follow the 'exit rules', lost 1/2 of what I made because my trade tanked after a 230% run! Now, I make sure I have my 'trailing stops' in place. We are taught all the fundamentals. It's up to us to follow through and apply them mindfully. That's experience. As traders, we never stop learning.

This post has been edited by Harteam: Aug 23 2011, 11:28 AM

While I agree that RM11,200 is no small sum, what works for me in the end, is how EFFECTIVE the money was spent. I can say that the 4 short days of learning set me on the road to professional trading. I will try to allay some of the concerns, based on my own experience:

~ In truth, all the analysis, charting, etc. etc. being taught are things that we already learned at Junior High (Secondary) school. They’re NOT rocket science and definitely not as scary as being portrayed.

~ I never went back for any support/revision. When I needed to, I went into their website and looked up the recordings/PDFs of any strategy that had been taught.

~ Therefore, it is NOT NECESSARY to continue ‘going back to school’ (and paying a monthly school fee). The only reason people do that is they initially failed to grasp fully all that was taught.

~ The Stocksfinder is a convenience offered to paid subscribers. It is not a necessity. From your own brokerage site, you should be able to tweak your own basket of stocks to tell yourself which stocks are ‘ripe for trading.’ You’ll know how to do this when you do!

~ After you have ‘test driven’ the rules of trading, strategies and calculations, you’ll know how/when/where/why you can tweak the calculations according to your own needs. As in driving, you must first of all know and obey the rules. These are all for your safety and success! It will not be tedious once these become second nature!

~ Trading is a serious profession which I believe has to be taught INTERACTIVELY. (Do we learn how to drive a car/play a musical instrument by only reading about it?) And if there are any FULL course on trading out there that is also free, please do tell us about it.

~ I can recommend a few psychology-of-trading books for anyone who is interested. This at least is something we don’t need to pay good money for a ‘millionaire trader’ to teach!

~ I was told by a friend who attended a cheaper-by-half course on trading that she actually ended up spending a lot more than I did. The subscription to monthly ‘trigger alerts’ which not always worked was expensive and she ended up losing a lot of money. On top of this, she never learned to trade properly at all.

~ Incidentally, I also met up with a group from 4 years ago who was unsuccessful. Very simply, I told them about a favorite strategy of mine, timing, stock etc. etc. They tried it out and VOILA! It worked for them as well. So now, I have an open pending invite for dinner!

~ I might add I had no previous experience with stocks except the jumping-in-from-hot-tips kind! If I can learn to trade like a professional, a lot of people can!

OK, thanks for the thoughts:-

~ They do/did offer one-on-one tutelage on special request after the course. All you need do is ask.

~ Leverage is only one aspect of Options trading. Of equal importance are the strategies. Combining these, you are able to maximize your capital, PLUS protect it 100% at the beginning, then turning this ‘insurance’ into 100% profit.

~ Trading is NEVER a sure-win thing. But it can be learned. Any course on offer is only the door-opener. The rest is up to us ~ to make use of, and improve on the new-found knowledge. THIS is what is being taught ~ to develop the mind-set of the successful trader.

Hi Doji,

~ I logged in during the 6-mth free access right after the course; but for me, there was no need to attend any refresher or support sessions. Of course you cannot log in if you don’t subscribe anymore.

~ The course is a door-opener to on-line trading. The strategies taught are basic strategies used widely in options trading. Once you get past the beginner stage, you will see that it will take HUGE market changes to make these basic option strategies obsolete.

~ I find that keeping to just 1 or 2 strategies with an established basket of stocks, which work for us, will make us more adept at the game. The KISS theory definitely works for me.

~ I’m in total agreement that the monthly subscriptions are for beginners/‘slower learners’, as well as those who would like to keep abreast of market changes, although I would tend to put more weight on the prior group.

~ Oh … so now I see (correct me if I’m wrong) … Your gripe was about the fee rather than the course. But, for such a nominal amount, I think Wealthmentors is doing a great job in providing such comprehensive support to its former students. Plus, like you said, coming up with new strategies etc. etc. all the time!