i watched this program last week (http://www.bbc.co.uk/iplayer/episode/b0 ... d_is_Born/) about new dads - the program is rubbish tbh and 2 of the 3 are closet gay imho!
one of them is Greg Secker (http://gregsecker.co.uk/) who is a multi-millionaire "trader". i thought i'd have a look into what he does and he runs a company called Knowledge to Action (http://knowledgetoaction.co.uk/) who essentially sell 2 day courses for £2.5k on a trading method that you could find in a book for a tenner or online for free.
i came across this article on his company http://www.financial-spread-betting.com ... itute.html - some of the comments below the article tell the real story. it seems he wasn't, and isn't, really a trader and that his trading floors are run on demo accounts.
i particularly agreed with this... "Forex trading appears to be rapidly becoming the new 'get rich quick' scheme that property investment was for so long and the vultures have clearly picked up on this".
Greg Secker
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
Last edited by superfrank on Sun Feb 19, 2012 1:31 pm, edited 2 times in total.
People fall for this type of courses as some want to get rich quickly and without much effort
http://www.guardian.co.uk/business/2012 ... r-could-he
http://www.guardian.co.uk/business/2012 ... r-could-he
Hi all,
I just got the same email about Greg Secker's forex free workshop in Melbourne. Read the first paragraph and deleted it right away.
It went "Over $4 TRILLION in world currencies change hands daily! $4 Trillion! It doesn’t take a mathematician to figure you only have to ‘pick the market’ by the tiniest fraction of a decimal point to become fabulously rich through the FX. When you know what you’re doing that is."
And I thought to myself that it's the same on Betfair - the most successful traders only make a tiny % of their turnover, and it's a battle hard won. The successful traders are hyper active in the markets and constantly on their toes to keep their strategies and edge in good form.
I'm an unsuccessful trader on Betfair for quite a period now but still sticking at it, and I spend late nights, weekends and time in shower and bathroom thinking about trading. It strikes as a big surprise therefore that Greg Secker can teach people how to trade the Forex markets in just 30 minutes a day. Sure, he can teach them - but I hope he doesn't forget to tell em that less than 0.5% will be successfull and they sure as hell ain't going to attain success in just 30 minutes a day without knowledge about the markets (currencies or horse racing) and it's participants.
I haven't traded the forex markets but drawing from my experience as a Betfair trader I can draw a mild parallel to a bit like trading the Cheltenham festival. Lots of volume, crushed volatility, waiting at the back of big queues to get your money through a scalping market. Certainly not favorable for people with small bank accounts (or retails traders with capital of only a few thousand).
And like the Cheltenham meetings, wannabe Forex traders will be trading an over-saturated scalper's market and will find it hard to gain an edge ultimately, net brokerage/commissions/transaction charges.
Forex traders - please correct me if I've painted the wrong picture.
Regards,
Switesh
I just got the same email about Greg Secker's forex free workshop in Melbourne. Read the first paragraph and deleted it right away.
It went "Over $4 TRILLION in world currencies change hands daily! $4 Trillion! It doesn’t take a mathematician to figure you only have to ‘pick the market’ by the tiniest fraction of a decimal point to become fabulously rich through the FX. When you know what you’re doing that is."
And I thought to myself that it's the same on Betfair - the most successful traders only make a tiny % of their turnover, and it's a battle hard won. The successful traders are hyper active in the markets and constantly on their toes to keep their strategies and edge in good form.
I'm an unsuccessful trader on Betfair for quite a period now but still sticking at it, and I spend late nights, weekends and time in shower and bathroom thinking about trading. It strikes as a big surprise therefore that Greg Secker can teach people how to trade the Forex markets in just 30 minutes a day. Sure, he can teach them - but I hope he doesn't forget to tell em that less than 0.5% will be successfull and they sure as hell ain't going to attain success in just 30 minutes a day without knowledge about the markets (currencies or horse racing) and it's participants.
I haven't traded the forex markets but drawing from my experience as a Betfair trader I can draw a mild parallel to a bit like trading the Cheltenham festival. Lots of volume, crushed volatility, waiting at the back of big queues to get your money through a scalping market. Certainly not favorable for people with small bank accounts (or retails traders with capital of only a few thousand).
And like the Cheltenham meetings, wannabe Forex traders will be trading an over-saturated scalper's market and will find it hard to gain an edge ultimately, net brokerage/commissions/transaction charges.
Forex traders - please correct me if I've painted the wrong picture.
Regards,
Switesh
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
5 Live Investigates - Greg Secker:
Getting rich quick? 14th October 2012 - Imagine if you had a job where you could earn nineteen thousand pounds in four minutes? A job where you could live a luxury life-style of fast cars, paradise beaches and private jets. In 5 Live Investigates this week Adrian Goldberg looks at a company which dangles this possibility. Sign up for a free seminar to learn the tricks of trading in the currency markets and you too could change your life. The programme talks people who've signed up for this and found themselves paying out thousands of pounds for further courses. One man spent over twenty two thousand pounds in pursuit of this dream. He says the company has not provided him with the skills needed to trade successfully. And we hear from insiders about the hard sell to enrol people on these courses.
http://downloads.bbc.co.uk/podcasts/5li ... -2216a.mp3
Getting rich quick? 14th October 2012 - Imagine if you had a job where you could earn nineteen thousand pounds in four minutes? A job where you could live a luxury life-style of fast cars, paradise beaches and private jets. In 5 Live Investigates this week Adrian Goldberg looks at a company which dangles this possibility. Sign up for a free seminar to learn the tricks of trading in the currency markets and you too could change your life. The programme talks people who've signed up for this and found themselves paying out thousands of pounds for further courses. One man spent over twenty two thousand pounds in pursuit of this dream. He says the company has not provided him with the skills needed to trade successfully. And we hear from insiders about the hard sell to enrol people on these courses.
http://downloads.bbc.co.uk/podcasts/5li ... -2216a.mp3
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giulio2010
- Posts: 962
- Joined: Sun Sep 12, 2010 9:11 am
Hi Andy, thanks for posting the Radio show..It's very interesting..However I did a bit of research on you tube and by looking at some people appeareance in his courses you understand how this character is successful in this big scam...He picks on people weakness to make money, he picks on people who have not been successful in their life and easy to manipulate with all those nice speeches...
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stigblomquist
- Posts: 7
- Joined: Tue Jan 24, 2012 2:11 pm
I've seen his obnoxious adverts on Youtube and after watching one I was convinced he was just a con-man - sorry "salesman" selling "courses". Virtually everything advertised on YT is either a piece of crap or a blatant lie. I found out the hard way when I ordered a couple of items from an advert and guess what they fell apart immediately. The current advert they keep firing at me is how to heat your house with only a tea light and a plant pot "save thousands on your heating bill!" LOL. And it's always "taking the country by storm!!!!".
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firlandsfarm
- Posts: 2720
- Joined: Sat May 03, 2014 8:20 am
Don't forget those who run their cars on a pint of water or use an electric motor to power a self powering generator for endless free electricity!!stigblomquist wrote: ↑Sun Dec 31, 2023 11:39 pmI've seen his obnoxious adverts on Youtube and after watching one I was convinced he was just a con-man - sorry "salesman" selling "courses". Virtually everything advertised on YT is either a piece of crap or a blatant lie. I found out the hard way when I ordered a couple of items from an advert and guess what they fell apart immediately. The current advert they keep firing at me is how to heat your house with only a tea light and a plant pot "save thousands on your heating bill!" LOL. And it's always "taking the country by storm!!!!".
