incometrader.com info?

LoneTrader19 · Jan 16, 2020

Has anyone heard or attended their seminar (incometrader.com by Mike Coval)? My buddy bought their Elite package (with coaching) for $30,000, with a guarantee to make the money back. Does anyone know anything more about this?

fan27 · Jan 16, 2020

LoneTrader19 said:
Has anyone heard or attended their seminar (incomtrader.com by Mike Coval)? My buddy bought their Elite package (with coaching) for $30,000, with a guarantee to make the money back. Does anyone know anything more about this?

Your "buddy" got ripped off big time.

gkishot · Jan 16, 2020

LoneTrader19 said:
Has anyone heard or attended their seminar (incometrader.com by Mike Coval)? My buddy bought their Elite package (with coaching) for $30,000, with a guarantee to make the money back. Does anyone know anything more about this?

You friend should know better.

Daal · Jan 16, 2020

There is a 99% chance this 'package' is not worth more than $50 (ie you could just bought an options book and learned the same thing). Talk to a trusted lawyer to see if you can sue to get the money back

gaussian · Jan 16, 2020

LoneTrader19 said:
Has anyone heard or attended their seminar (incometrader.com by Mike Coval)? My buddy bought their Elite package (with coaching) for $30,000, with a guarantee to make the money back. Does anyone know anything more about this?

Does your friend also buy bridges? I have a few I'd be willing to part with for the right price.

ph1l · Jan 16, 2020

https://incometrader.com/mutual-funds.php

The SPY is a stock and so all costs on the SPY are associated with your commissions for buying and selling only.

Maybe they never heard of bid-ask spreads or expense ratios?

helpme_please · Jan 16, 2020

LoneTrader19 said:
Has anyone heard or attended their seminar (incometrader.com by Mike Coval)? My buddy bought their Elite package (with coaching) for $30,000, with a guarantee to make the money back. Does anyone know anything more about this?

Sounds like a potential scam to me. Do your due diligence.

IAlwaysWin · Jan 17, 2020

People actually fall for that scam?

faet · Jan 17, 2020

LoneTrader19 said:
Has anyone heard or attended their seminar (incometrader.com by Mike Coval)? My buddy bought their Elite package (with coaching) for $30,000, with a guarantee to make the money back. Does anyone know anything more about this?

Ask your buddy to show you the guarantee to make 30,000 USD back. If you can share it here it would be of interest, even if only for curiosity's sake.

If he does not have it, or it can't be shared, draw your own conclusions.

dealmaker · Jan 17, 2020

Daal said:
There is a 99% chance this 'package' is not worth more than $50 (ie you could just bought an options book and learned the same thing). Talk to a trusted lawyer to see if you can sue to get the money back

Michael Coval lives in Vietnam, good-luck with that!