Knowledge to Action?

[Peter Thomas]

Australian experience

I signed up for this with my wife. I wanted a simple signal that she could follow to trade for herself. I already traded.

The basic swing strategy simply doesn't produce profits. I've trialled it since August and it has lost hundreds if not thousands of pips. Had I traded it live as suggested at the seminar I would too far behind to recover. I'm an experienced trader and have followed the rules religiously.

The free sales seminar didn't mention the additional seminars that were 'upsold' at the paid event. They also didn't mention limited tutor hours or the high cost of paying for additional tutoring. The tutoring sessions were basically of no value to me.

The 'live trade' calls are inconsistent. Seems to happen if someone thinks of it and therefore an overrated part of the package. I assume it is better value in the UK where they have a larger staff.

ESignal is overpriced but also a large part of the sales pitch to add credibility.

I assume that there are also arrangements between K2A and the recommended brokers so I have closed all those accounts and gone back to my own broker to avoid potentially benefiting K2A.

We had little after sales technical assistance but a large number of sales calls trying to get us to take additional, expensive sessions. They only stopped when I told the sales person we would take additional courses when the basic system proved profitable. He hasn't rung back since. Speaks volumes really.

Don't waste your money. When I think of how much better off I would have been just adding the fees to my trading account I feel quite ill! Its just been an expensive and aggravating distraction.

 

[MarksInvestingBlog]

Thanks for your comments Peter. I don't about the "swing" strategy. Is that for Forex?

I attended the Forex training in Sydney last Dec (2010) and learned Income Generator, Pivots and Snipers.

I have been playing with income generator but the market is not good right now for this one though I have had some success and a few mis-calculations based on the fact that I did not read the news which had an important mention about the NZ economy going more backwards than forwards and I went long!

I am going over my notes this weekend for the Sniper strategy as I need to look at intraday.

My experience of K2A in Aussie has been very good and my Forex coach Rik has been very helpful especially covering risk/reward with me again.

I have been on a heap of property related courses in my time (I own PropertyTalk.com) and one thing I have found is that once you leave the course you need to further educate yourself. The 2 day Ultimate Forex course which I attended is packed full of info so I know I will have to review the DVD set again.

I also found "Trading in the Zone" book very helpful in creating the right mindset for trading. I am very sure that if I did not read that book I would fail at Forex trading. The book is just amazing and I recommend the book to people who don't even trade.

I use eSignal and it costs me about 120.00 USD per month - around that. I like the product and in regards to the price I consider that a push to make sure I don't end up lazy as I need to pay my monthly bills before I can earn any "profit" (before the tax man takes most of it...).

I also feel that its going to take at least 5-6 months to really understand how Forex works and to earn profit so my current goal to not lose money from my account.

I hope you follow my blog Peter and see how I get on with my trading and I welcome any input/feedback and comments.

Cheers

Marc Krisjanous

 

[MarksInvestingBlog]

Knowledge to Action Income Generator and Pivot Earnings Update

Hello all,

I just wanted to keep you all in the loop about using the Knowledge to Action Forex strategies.

I am currently using two of the strategies - Income Generator and Forex Pivots.

Last week paper trading I earned around $50.00 USD using a mini account with two trades. This is good as I initially lost $200.00 USD when I first started due to not looking at the news before trading!

So I am slowly rebuilding my account.

For me the strategies seem to be working but as a newbie I am noticing that the Forex market seems to be going all over the place. I think this is called side ways movement?

Cheers

Marc

 

[midworld08]

First a little background. I've been trading stocks for 10yrs, and my last 2 have been profitable. I'd put on the blinkers as every time someone mentioned something else, I'd just get back to my trading of stocks as there is always some new thing to check out and not learn one thing.
For some reason I got sucked in to going to the 2hr presentation with a friend. Now I bought the course, on the day. Thinking back, it was not the course or presentation, it was finding out more about that market that I had not paid attention to, that got me hooked. I also paid for a mate. Yeah OK they gave us the deal they give to couples. Half price for the second person. $7500.
We were the only 2 that signed up that seminar. They were surprised when I said lets do it.
Now looking back, most of the info can be found elsewhere for free, minus the strategies. Spend time at babypips.com and you get more than what it gives to you on the first day, and half of the second. Seriously.
Then we start in on the strategies. You get the income generator, which is a nice relaxing end of day strategy which needs a good trending market to work well. Otherwise you need extra information to make it work well, come back and pay us another 10k. The most time is spent on this strategy and explaining it, around 2hrs.
Strategy 2 is the pivot trade. It was reasonably well covered and they spent around 1.5hrs on it. You can find better info on pivot trades and the strategy used to make it happen elsewhere. I've since read heaps on the strategy to get more out of it after many failures. Its glossed over.
Strategy 3 is the sniper. I remember thinking that time of the day, gee this is the most flexible and powerful of all the strategies and they give it last and spend the least time on it. Everyone is burnt out and just goes yep ok another thing. I loved the idea of the strategy, but recognized that it wasn't as easy as they say.
So, first 1.5 days forex basics. Last half day 2, you get the strategies.
OK since I signed up with a mate, we got 6 hrs of coaching via skype. Most times you are supposed to get 3, but I found out that everyone on my course got 6. Yes I talked to everyone, all 60 of them. So they lied their, not good.
The coaching did help a bit, most times I ran out of questions. Well the set ups for the strategies do not happen all that often. In that case you would cop an ear bashing of what you should be doing next with k2a with the left over time on the coaching.
My advice with hind sight.....(gee I wish I could trade with hindsight) Don't do it. I don't regret it entirely. It opened my eyes to something which amazed me. Most of the information is free( 75%) and the whole problem with the strategies is you have to be able to get them to work for you. The sniper happens around 3-4 times a week (7 majors and minors). The pivot around the same. Thats if you put 5hrs per night into sitting and watching the screens, and you happen to be watching the right currency pair when it goes. I was getting around 2 per week, and its not enough. You start trading cause you are frustrated and bored, and that is not good.
I agree, put your money into an account, get the services of a broker, and trade a demo account. You'll learn heaps more. Try and get one with education too, and your onto something. Also heaps of information is available with the forums......heaps.
I still use eSignal recommended by them, as it has a nice play back function to test strategies in. But I'm looking at dropping it as soon as I can, as it adds another aspect into the trading (price variances between broker and eSignal) that you have to figure into the equation.
It was a good weekend with them, and it did open my eyes. With hind sight, its not worth $5k. I'll get it back, and probably not even on those strategies, but simply because I did get blown away by the forex market.

Cheers
Colin

 

[MarksInvestingBlog]

Hello Colin,

Great information. I have also found restrictions in the K2A strategies especially around the Income Generator like you stated if there is no pronounced trend. But when there is a strong trend it does work for me.

I also reflected on what you said about hindsight and that you don't regret going to the course because it did open your eyes up to FX.

This is the same for me and even though there is a heap of free information online about Forex trading - where does a newbie begin and who should they trust?

Forums are great - hell - I own one called PropertyTalk.com for property investors and for the 8 years its been running you will find every strategy you will ever need to buy investment property. The issue is that most newbies get overwhelmed with the amount of information and look at going to a course instead.

I think its important as a newbie that you get a professional education no matter what you venture into. Professional education gives newbies a structured and formal framework to enter the market - whatever that maybe (property, shares, FX whatever).

With the framework in place, then yes, like you people can venture out and learn more strategies and find ones that work for them.

Before I went to the K2A course I was a complete newbie - I had no understanding about FX at all. The course gave me a brilliant introduction to FX and even though the 3 strategies do have limitations - I would bet - just like property investment strategies all of them do have their restrictions and should only be applied when the "setup" is there.

Currently with the Japan crisis and the EU having issues I have found the market very unpredictable - enough so that I have not made much with the strategies - however as a newbie I really should not be in the FX market right now anyway. Thats my gut feel as there are times you should not be buying property in certain markets conditions.

Whats you thoughts on this?

Cheers

Marc Krisjanous

 

[Anonymous Cautious]

BEWARE of K2A

Hi people,

I went to a free seminar in London from K2A. To be honest I was pretty convinced of taking the course even before going there...
not smart, because I didn't really look at the presentation objectively.
I hadn't really made much research about the company but it appeared to be the real deal. They offered there services in a bunch of serious job hunting webpages , and since they were supposedly biggest UK trading coaching company, and seemed to have offices in other counties too, I felt confident enough...
So I pay the GBP2500 incl VAT that the course costed with my credit card, knowing that if I found something weird about them before the course, I'll just called the credit card company file a complain and get the money back.
On the tube back to my flat I started reviewing the presentation in my head on an objective way.
The guy who gave the presentation, said that he became rich since college trading with their strategies, even putted a photo of him standing next to what was supposed to be his Aston Martin. They then played a video of a guy who was supposed to be a former plumer that theoretically made 500% return on a month.
And it all came clear
What the hell did I sign for!!
I started doing some research on them and found a lot of stuff.
First their Flying Trader
The Flying Trader
their
Where Greg Secker, CEO of K2A trades from an helicopter over london...
and people can follow the trades from home or at their offices in London.
Like if his going to find signs in the sky or something!
Any person can trade from any place! Being in a helicopter is probably a lot harder to fing good trades for anyone and the 3G or satellite internet is probably pretty bad!
The trades that people follow that day are probably being place by someone else...
These people just try to be as flashy as posible to give the appearance that they are successful.
So I kept digging.
I saw his welcome video again
Greg Secker
and made some background checks
He claimed to have shared stage with a lot of important business people.
He has this guy who he shared stage with Jordan Belfort "The Wolf of WallStreet" saying that he is a world class trader,
so I checked Jordan out to see what the hot shot had accomplished in his career...
I strongly suggest you guys read this, its pretty funny!!!

News Headlines

Jordan Belfort: Confessions of the Wolf of Wall Street - Telegraph

One has to be really dumb to put this guy as a reference...
He is famous for being a White Collar Criminal!
He scamed people for $200,000,000 and for it did jail time for it.
The movie Boiler Room
Boiler Room (2000) - IMDb
was inspired in his early life.
He still has to give most of his actual income to the people that he scammed.
Some editions of his Autobiography book "The Wolf of Wall Street" have the following written on the cover:
'Multimillionaire at 26
Federal Convict at 36
I party like a Rock Star and Lived like a King,
And Barely survived!
My rise and fall as an American entrepreneurial Icon."
http://www.amazon.co.uk/Wolf-Wall-S...3756/ref=sr_1_1?ie=UTF8&qid=1313715832&sr=8-1
Really which world class millionaire trader will have to put this in his CV,
A fraud.
Then I checked many respected financial webpages such as
Information for the World's Business Leaders - Forbes.com
CNBC Mobile Home
www.investorpedia.com
Bloomberg - Business & Financial News, Breaking News Headlines
Where he supposedly appear as an invited guest.
And none of them showed any results for Greg Secker.
None of the videos in youtube have any comments, because they have to be approved before being posted and apparently not that many people posted good things, judging from the unlike/like ratio that this videos have. One of their videos is labeled CNN interview is an interview in CNBC Europe, which is better in my opinion, but the video is not complete, its cut before Greg a had the opportunity to response a challenging question!. They probable mislabel it so that people wouldn't find the full version.
This the short version taken from knowledge to action youtube channel:

So why should the a super star trader have to lie, and have some of his employees give you false statements?
TO SELL YOU!!!
That's all it is, a cheap sell!
Like one of those ads that you see the before an after, that fat guys get sixpacks in a couple of weeks and that sort of stuff...
Peter_b posted in this forum how K2A was even red flagged by the Financial Services Authority (FSA) of the UK.
Regarding the things they teach, you can find all that stuff and more
on series of books related to trading...
Probably even the ones from the "For Dummies" Store, (sad but true)
Product Search - For Dummies
I kept going back to the free seminar in my mind and remembered that the guys kept saying how the course was better for beginners, that people with trading experience tend to developed bad habits that make it harder for them to lern, etc etc etc...
This people probably had tons of problems in the past and are trying to prevent the people that can realice that this is simply a charade and do bad publicity.
I can see that this course either the stock or forex can open the mind of a beginner, but people there are many ways of opening your mind and it is easier to make a beginner think its wort it.
I can't assure you wont make any money or that you wont learn anything at all as some of the things they teach like technical analysis, are tools that every trader uses, but I CAN ASSURE YOU that there are far cheaper and better options than this one!
And that don't make you dependent of them or a software to "succeed".

If you still want to use esignal, they give a lot of free online seminars, and others you can pay for...

http://www.esignallearning.com/seminars/default.aspx

You can also try the software for free before buying it.

So those were my findings regarding knowledge to action,
and its people...

Hopefully they will prevent some people from blindly singing for their seminars.

Also guys even if you take this or other seminars its good to star using accounts with play money, like many people have said before you can lose money specially at the beginning so till you find out if your cut or before you become profitable (there is really no point in star with your money if you are going to lose some. Most sites have the option of practice accounts!

Cheers

Ps: At the end I got them to send me the confirmation email that my refund was being processed, but it only happend after I called the guy that charged me at the seminar, and suggested that maybe the easiest way of making the refund was for me to attend to another seminar so he could swipe back the card to put back the money to the account.
I guess after I told him some of the reasons that I didn't wanted to take the course he didn't wanted me to crash at the other seminar because the next morning as soon as the offices of K2A opened I got an email saying that the funds where being transfered back to my account...

 

[RahmanSL]

I think most Newbies & Semi-Newbies have the impression that by attending overpriced forex courses & seminars, they can then go home and simply "plug in and trade forex" successfully. These information they claim to teach you, at a price, are absolutely free over the internet.

There is no short cuts to trading the forex successfully and profitably.
A good general knowledge of the financial health of the currencies pair you wish to trade and the state of the world's economy is essential to know which way and when to trade.
If you are too lazy to get these information, then get a managed account and let the professional do the trading for you.

 

[FOREXHAWK]

forex night rider & forex godfather

has anybody heard or experienced these two trading systems which I have been assured are reputable

 

[Anonymous Cautious]

K2a Mf Global

Just as a commentary one of K2A recommended Brokers, MF Global filed for bankruptcy last week...

 

[stopman91]

The operation works like this, they send out hundreds of invitations via email and run 40+ seminars per week. The seminars are scripted along the lines of promise the earth, tell them what they want to hear but just sign them up. Next step is the seminar. Having paid £2k plus VAT you’d expect to get value, actually you don’t, you are part of a selling machine now and next step is to sell you either Ultimate Wealth for another £15k or Boot Camp or Momentum Coaching all with outrageous prices. All these overpriced courses will be long on promises and short on delivery. Once they have your money you are then kicked out the door with little or no follow up and then it is onto the next sucker.

My advice, run a mile and avoid this company like the plague.