Rich Dading Trading Class Real/

[newtrader001 10]

Hello,

 

I want to learn about trading and went to Rich Dad's free seminar. I ended up paying $12k to view their online courses. They are calling me now to offer the coaching and trading lab for another $7k. I start to feel more and more uneasy when they try to push and sell me more of their services.

 

Has anyone taken courses before from Rich Dad or if you know other better resources to take such classes and coaching? Is coaching an important step? Can anyone share what classes you take to learning trading?

 

I really appreciate your feedback and advice.

[robertm 10]

Hello,

 

I want to learn about trading and went to Rich Dad's free seminar. I ended up paying $12k to view their online courses. They are calling me now to offer the coaching and trading lab for another $7k. I start to feel more and more uneasy when they try to push and sell me more of their services.

 

Has anyone taken courses before from Rich Dad or if you know other better resources to take such classes and coaching? Is coaching an important step? Can anyone share what classes you take to learning trading?

 

I really appreciate your feedback and advice.

 

They are big on pushing this course in Asia & Aus as well as his name carries well everywhere. But when I guy puts in print "If I need a little extra cash I just go into the market and take it out when I want to", then I'd say they are full of sh*t. He makes some goods points, but I don't see trading the markets being a "specialty" area for them.

 

There are far better mentors for less money who are true professionals with real track records. Beware of those who "specialize" - Options, FX, Futures, daytrading etc. While there are differences between markets and instruments, these are addressed AFTER you understand how to trade. Price first, instruments and markets later.

[yiman 10]

Hello,

 

I want to learn about trading and went to Rich Dad's free seminar. I ended up paying $12k to view their online courses. They are calling me now to offer the coaching and trading lab for another $7k. I start to feel more and more uneasy when they try to push and sell me more of their services.

 

Has anyone taken courses before from Rich Dad or if you know other better resources to take such classes and coaching? Is coaching an important step? Can anyone share what classes you take to learning trading?

 

I really appreciate your feedback and advice.

 

thats why his name is Rich DAD cuz he is charging 12 k for an online course, for that i would be expecting a mentorship in an online chat room with live trading for a couple of months. Another 7k ..........19 k in total . There are good courses costing a lot less than that

[metaltrade 10]

has a free 1 week test in their trading room/trading classes, and they are honest. I think it's around 299$ a month.

 

These prices you have paid are outrageous.

Edited November 11, 2010 by TLAdmin
reported promotional URL removed

[DennisS 10]

Do research on the internet and see for yourself what kind of company is it.It`s a bunch of thieves trying to separate you from your money.Run for the hill is my advice to you.I`ve been with them and regret it very much.They will push as hard as they can to sell you as much as they can,but for the money you pay, this stuff is way-way overpriced.I learned my lesson the hard way,but you don`t have to.

[Phil-n-Texas 10]

fwiw, i've been actively trading since 2000 and full time for 3 years now....

 

never took a course or anything of the sort.

 

however, there's a boat load of free info out there to learn the basics.

 

one website that i refer a lot of folks to that has a lot of good free info is

 

Swing Trading Guide | Learn How to Trade Stocks Like a Pro!

 

great examples and Craig is a very good writer... also has something like 14 or more free e-books.

 

also Alan Farley's HRE (Hard Right Edge) website has a lot of helpful info... most of it is free.

 

Technical Analysis: Hard Right Edge technical analysis, swing trading and day trading tools, education and original strategies for day traders and swing traders

 

As for books... there's an short book (about 80 pgs.) by Ed Downs called 7 Chart Patterns that Consistently Make Money... was a good one and very simple plus he has some good tips on entry and exit targets.

 

setup a sim account (again, free at TOS or the like) and practice, practice, practice...

 

but 12k for a mentorship course??? no way man.

 

good luck

[Mark Tabor 10]

free to 12K...that's a slippery slope.

 

kiyosaki pushed r/e courses, books, a boardgame, in the 90's & 00's. that game has imploded & he has apparently moved into trading 'education materials'.

 

best advice: avoid all "pay me to learn to trade" types. all of them.

 

read, blog, and watch live charts. besides the interesting approaches that come up in your studies & that you'll want to fool around with, think about what you want, particularly what you want the process/results to look like - because the markets accommodate all of them & it is important that you own yours. don't be afraid of using metaphors, either, to describe "what it looks like" (except I think it wise to not use metaphors having to do with war, violence, etc..."surfing", or "I'm taking my little bucket down to the big river", etc.....

 

lots of screen time, lots of thinking about it, synthesizing........

[robertm 10]

free to 12K...that's a slippery slope.

 

kiyosaki pushed r/e courses, books, a boardgame, in the 90's & 00's. that game has imploded & he has apparently moved into trading 'education materials'.

 

best advice: avoid all "pay me to learn to trade" types. all of them.

 

read, blog, and watch live charts. besides the interesting approaches that come up in your studies & that you'll want to fool around with, think about what you want, particularly what you want the process/results to look like - because the markets accommodate all of them & it is important that you own yours. don't be afraid of using metaphors, either, to describe "what it looks like" (except I think it wise to not use metaphors having to do with war, violence, etc..."surfing", or "I'm taking my little bucket down to the big river", etc.....

 

lots of screen time, lots of thinking about it, synthesizing........

 

Sure. How about we both build a rocket tomorrow. I'll hire a rocket scientist to pick his brain on how to do it. You can go start working on the discovery of the atom.

 

What we need is a set of rules and framework to work within. From this framework we can build our system, like using lego, rather than inventing the chemical compound for plastics. (that's two metaphors now).

 

Avoid - somebody teaching you "their system" as you won't have ownership and belief in it.

 

Do - seek out the building blocks you need to build a system. If somebody can give you those, all the better, why reinvent the wheel when you know working wheels exist (the issue is knowing if the wheel you buy works, or is just a replica of one that worked for somebody else).

 

I'll steal a quote to finish from John Carlton's blog :

 

"And a little mentoring can trigger massive leaps in figuring sh*t out."

 

Having somebody to ask when you hit the wall is all it takes. At times the process of writing the question alone, and not sending it, provides the answer. Accountability is key.

[Mark Tabor 10]

so trading is analogous to rocket science? and "mentors" are relatively simple to access? I think you've inverted things. are you a mentor?

[BlowFish 10]

But trading isn't rocket science. In fact it is pretty darn simple, it's just not easy. As an example I have just read Curtis Faiths books on the Turtles. The first batch where taught to trade in 2 weeks, the second some time later they cut to 1 week. The approach was very simple though some found it hard to follow (I guess with 70% odd loosing trades not surprising!)

 

Anyway... I would say if you have the slightest doubt, pass. If you search around you will find a couple of threads on what to expect from a mentor, what a good one will likely expect of you and ideas of questions you should ask them. Try here and ET. If my memory serves a poster called 'NihabaAshi' was a contributor, that should help you narrow it down.

[robertm 10]

so trading is analogous to rocket science? and "mentors" are relatively simple to access? I think you've inverted things. are you a mentor?

 

There are plenty of good accessible mentors that don't overcharge. Finding them is the hard part. Finding one that suits you is harder again (one persons mentor is another persons waste of money).

 

Rocket science is actually pretty straight forward also ironically. Anybody can build a backyard rocket, many people try, but how many people really master it?

 

If you persist long enough eventually you overcome all obstacles no matter what you do.