On Get Rich Seminars

I think it's not hiding at home from other human beings as much as: (1) freedom from a fixed schedule, and (2) promise of more control over their lives that attract so many people to these courses.

If you really like trading, it won't feel stupid or boring to do it all day long (although personally I would trade on a much longer timeframe, no time/energy to sit all day long). Whereas if you don't like trading... then why bother at all?

If these people really like trading soooooo much, why not be a full time remisier? I believe they don't because they don't like to meet and talk to people. They don't like to do business with people. They like to stay at home and talk to computer. Losers.

Remember that Singapore's Peter Lim is almost a billionaire. That "freely fella" is considered poor when standing next to him..

I've been skeptical of the "free fella" since the get go, especially after finding that his successful ex-students are not using his method!

And believe it or not, there are people who like trading on their own time without the whole structure of work or employment in place, and that has nothing to do with how antisocial they are.

Any traders here successfully made >$100k per year consistently no matter bull or bear market? Care to share?

Nobody? All lose money? Or make very little?

Depends on your capital mah. If your starting capital is 100k and you make > 100k/year, that's fantastic. Keep it for 20 years straight and you're gonna be bigger than Buffett.

So far my own return is so so, good during bull, bad during bear. Taken together it's probably about 10-12% or so (that's why I'm still doing this part time...)

I'm sure the freely folks are not doing any better though. In fact those I know who did go for the course are no longer trading.

Howcome,

Very true. I personally think 10% - 12% average is very good already. $10k compounded at 12% for 20 years gives you about $96k! Not bad.

Just do the maths ... 1 student pays $3,000. If there are 100 students enrol, the trainer makes $300K per course and he only teach 2.5 days - saturday, sunday in hotel meeting room plus 1 week night in his office. If he managed to run 12 classes in a year, that's a wopping $3.6m! And he only work once in a month, only 2.5days per month. And since he booked a hotel room, he probably would gather more students. You can do the maths ... if there are more than 100 students in a class.

Originally Posted by DoTheMaths--

Just do the maths ... 1 student pays $3,000. If there are 100 students enrol, the trainer makes $300K per course and he only teach 2.5 days - saturday, sunday in hotel meeting room plus 1 week night in his office. If he managed to run 12 classes in a year, that's a wopping $3.6m! And he only work once in a month, only 2.5days per month. And since he booked a hotel room, he probably would gather more students. You can do the maths ... if there are more than 100 students in a class.

I was at the Invest Fair 2009 today. The get rich seminars there are on overdrive.

One forex trainer claims he and his students can "consistently" achieve 10% profit a month. He even repeated that it's "10% a month" and not "10% a year".

He even illustrated how 10k can compound at 10%/mth to about 100k in 24 months, obviously hinting that it's easy for him to multiply his capital by 10 folds in 2 years.

As some of the above posts say, it's not too hard to see these self-proclaimed alpha traders actually make money from conducting courses.

Well, I know some who justify that they "truly" want to share their knowledge and help others get rich. Yeah right. If they are indeed so altruistic and can really get 10%/mth return like what the forex "guru" claimed, I suggest Temasek Holdings and GIC hire them, cos according to my calculations, at 10%/mth compounding, $10k will become $1 billion in just over 10 years and hit $1 TRILLION in 16 years and 2 months.

"10% a month consistently". Yeah right.

It's so obvious these trainers make money from seminars. The only value they provide is basic knowledge and maybe some encouragement. If you think it's worth a few thousand dollars, go ahead. I will just say that the same can be had for about $50 - just go amazon.com and search for the best rated book on whatever trading you're looking at. As for encouragement, aren't you encouraged by the fact that you have gained a few thousand dollars at the start of your trading journey by not wasting them on seminars?

Originally Posted by Unregistered

I was at the Invest Fair 2009 today. The get rich seminars there are on overdrive.

One forex trainer claims he and his students can "consistently" achieve 10% profit a month. He even repeated that it's "10% a month" and not "10% a year".

He even illustrated how 10k can compound at 10%/mth to about 100k in 24 months, obviously hinting that it's easy for him to multiply his capital by 10 folds in 2 years.

As some of the above posts say, it's not too hard to see these self-proclaimed alpha traders actually make money from conducting courses.

Well, I know some who justify that they "truly" want to share their knowledge and help others get rich. Yeah right. If they are indeed so altruistic and can really get 10%/mth return like what the forex "guru" claimed, I suggest Temasek Holdings and GIC hire them, cos according to my calculations, at 10%/mth compounding, $10k will become $1 billion in just over 10 years and hit $1 TRILLION in 16 years and 2 months.

"10% a month consistently". Yeah right.