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| 21st October 2015
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Can you really achieve 'financial freedom' by spending a few hours at a seminar on stock market investing? David Robinson joined fortune seekers at three 'learn to trade' schemes
Tony turned £3,000 into £47,000 in just nine weeks and has retired at the age of 50. Awia was a "bored mum", but is now earning a good living while being "100% there for the kids". Samet made 30% on this first trade, and each day his profits rise. These are just some of the glowing testimonials posted on "learn to trade" websites, which hold out the promise that anyone who spends just a few hours at a seminar can look forward to a future relaxing on luxury yachts in the Caribbean sipping strawberry daiquiris. All you have to do, it seems, is follow a few easy-to-apply trading strategies.
Almost every day in hotel suites across the UK a new crop of would-be stockmarket millionaires sit down to hear from the "professionals" the secrets of trading in stocks and currencies. Over the last few months I've been one of them. Not only that, I decided to put down some of my own money and see how far I'd get following the advice of the so-called experts.
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What did the seminars tell me? That investing for the long term, buying low and selling high in the style of Warren Buffet, is old hat. Instead, I should jump into the world of "spread betting", going "long" and going "short", with mini-bursts of activity based on the zigzag of chart patterns. This, I was told, is the "recession proof" way to make money.
But relatively little time was spent actually teaching me about investing. Instead, I and my fellow attendees were encouraged to go on "elite" courses and "mentoring" programmes where we'd learn about how really to make big money – but at a cost of up to £13,000.
It left me feeling that the only people getting rich from the learn-to-trade industry were the learn-to-trade companies themselves.
But as an out-and-out beginner in the world of investment, I admit I have learnt a few things. I have begun trading, albeit with just £500. But am I making any money?
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Stock and Financial markets
The ABC of the European stock and financial markets
Stock Exchanges and other Exchanges
Analytics
Studying and teaching
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