Kiplinger Busts Hotel Seminar Trading Riches: OnlineTradingAcademy, BetterTrades, etc
- Thread starter TraderZones
- Start date
I teach the Penny wise options seminar on how to make income selling OTM puts for one penny on expiration day.
I tell the class that is the equivalent of collecting the spare change at the bottom of a roller coaster. there is only a 1-2% chance of a trade going against you.
I tell the class that is the equivalent of collecting the spare change at the bottom of a roller coaster. there is only a 1-2% chance of a trade going against you.
I wondered how long it would take for a response to my post several days ago and not surprisingly it happened very quickly. First of all you are obviously a OTA employee, probably one of the presenters staying at the hotel where the "ALL STAR EVENT" was held. You need to be careful what you say in public places like the area where a group of 8-10 of your people where very loud and boisterous. I heard one of you say, "I police those boards very carefully and jump on anytime somebody bad mouths us." One person asked, "What if it's not bashing. What if it is a bonifide complaint?" Your response was "Screw them. "As for "attacking people who are trying to help people", give me a break. You have your hands in our pockets.
As for the instructors, I heard over and over that they only have to show a 70% profit to keep their jobs. So what if they buy a mutal fund and trade it one time. They are classified as a trader. What if they buy a stock like APPL which is unstoppable, buy a small posiiton and then sell it at a profit. That is trading and puts them within the 70% rule.
What I and other interested parties would love to see is actuallconfirmation slips of real trades or better yet, shows us tax returns. Let's see how much you are really making trading and see if you really qualify to instruct us.
I understand these instructors get paid really well, like $700 a day plus all expences including airfare and and hotel and meals.
Hey, sign me up! I'll stand in front of a group for that kind of money and I understand that presenters such as those of you who showed up at the ALL STAR EVENT make even more. So just admit it - you do it for the money and you probably trade minimally just to be your employers 70% rule. Hey, I'm doing lot better than 70% with my trades. Put me on the payroll for $700 a day.
Again, the whole ALL STAR EVENT was just a show and a blatant sales pitch. I was being kind when I said that after the game show and $1,000 certificate giveaway 1/4 walked out. It was more like 3/4 of the audience.
By the way, I live in Orlando and continually hear more and more complainst about the way business is conducted in the Orlando office. It seems like your local office has gone down hill since you lost Mark Maldonado, Chris Irvin and the other quality people you had back then. It's too bad. There is a need for this type of education.
In closing let me ask you a question, have you ever heard of taking responsibility and accountablity? Before you write someone like me and so many others as "bashers", perhaps you should take a good look at yourself and the people you have representing you, especially here in Orlando.
As for the instructors, I heard over and over that they only have to show a 70% profit to keep their jobs. So what if they buy a mutal fund and trade it one time. They are classified as a trader. What if they buy a stock like APPL which is unstoppable, buy a small posiiton and then sell it at a profit. That is trading and puts them within the 70% rule.
What I and other interested parties would love to see is actuallconfirmation slips of real trades or better yet, shows us tax returns. Let's see how much you are really making trading and see if you really qualify to instruct us.
I understand these instructors get paid really well, like $700 a day plus all expences including airfare and and hotel and meals.
Hey, sign me up! I'll stand in front of a group for that kind of money and I understand that presenters such as those of you who showed up at the ALL STAR EVENT make even more. So just admit it - you do it for the money and you probably trade minimally just to be your employers 70% rule. Hey, I'm doing lot better than 70% with my trades. Put me on the payroll for $700 a day.
Again, the whole ALL STAR EVENT was just a show and a blatant sales pitch. I was being kind when I said that after the game show and $1,000 certificate giveaway 1/4 walked out. It was more like 3/4 of the audience.
By the way, I live in Orlando and continually hear more and more complainst about the way business is conducted in the Orlando office. It seems like your local office has gone down hill since you lost Mark Maldonado, Chris Irvin and the other quality people you had back then. It's too bad. There is a need for this type of education.
In closing let me ask you a question, have you ever heard of taking responsibility and accountablity? Before you write someone like me and so many others as "bashers", perhaps you should take a good look at yourself and the people you have representing you, especially here in Orlando.
Stock 777 wrote;
"Most of the instructors at all these Educational Facilities are highly successful traders, some of whom make so much in a single month, that they have to teach the rest of the year or risk paying 90% taxes on incremental income."
I would like to ask the intelligent people out there reading this to ascertain the integrity, intelligence and business savvy of the obviously OTA employee who wrote this. Next thing he will be saying that Micheal Dell has to take 9 months off to reduce his billionaire income. Or NBA players will be taking off time from games and practice to go out on the road to "teach" to reduce their tax liability.
Will the b.s. ever stop??
"Most of the instructors at all these Educational Facilities are highly successful traders, some of whom make so much in a single month, that they have to teach the rest of the year or risk paying 90% taxes on incremental income."
I would like to ask the intelligent people out there reading this to ascertain the integrity, intelligence and business savvy of the obviously OTA employee who wrote this. Next thing he will be saying that Micheal Dell has to take 9 months off to reduce his billionaire income. Or NBA players will be taking off time from games and practice to go out on the road to "teach" to reduce their tax liability.
Will the b.s. ever stop??
i think he was making a joke.
