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 Mirriam MacWilliams, options trading course

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smart.strategies
post May 23 2011, 10:25 AM

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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.

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