Value for money at $97

N

Nobleone

Hi All,

My brain is still feeling punch drunk after attending the Saturday and Sunday $97 Financial Mastery 2005 in Brisbane over the weekend.

There were about 250 people there and it all ran very smoothly and on time.

Gotta say hi to Foston who I met on the Saturday and didn't discover it was him until Sunday. I guess blokes are not good communicators. LOL

Although a lot of the stuff covered the basics it was good to go through it all again to tick off the checklist. (gotta make those wills this week)

For me the biggest thing was learning about options trading, both my wife and I feel that the property market is too flat right now to make any more purchases, including renos, so adding another string to our bow in the form of options trading seems like a good direction for us right now.

Are any other forumites doing this? Any comments, tips, advice, info on which software etc?

Are there any other forumites that attended who would like to share their thoughts on the weekend?

Cheers, Nobleone. :D
 
Are you a regular commodity or stock trader?

Trading options is really just an advanced way of trading commodities and stocks. I've never done it! Usually you'll pay a higher commission on a trade, and while the returns can be greater that is generally only the case with a higher risk order.

Be careful!
 
Hi Nobleone .. Sounds like a great day - at a great price.

Wish I could have gone.

I am a skeptic, not a cynic so i'm open to anyone that has something to say.

I fiollowed the link to the original visionpursuit website, and I'm interested in the following ..

"How Dymphna achieves equity in properties even before she settles by putting a simple but critical sentence in the contract."


What was the sentence? Sounds like that one thing alone would make up for a measly $97 ;)


T.
 
Hi TomL,

Dymphna never actually got around to revealing that little gem, unless I was in the gents at that moment in time. :)

Although I suspect that if you signed up for her full home study course you will no doubt find out exactly what the clause is.

Luckily I left my credit card at home and therefore was unable to succumb to the dangling carrots and of course the inevitable 'today only' price discounts. :p

Cheers, Nobleone. :D
 
TomL said:
I fiollowed the link to the original visionpursuit website, and I'm interested in the following ..

"How Dymphna achieves equity in properties even before she settles by putting a simple but critical sentence in the contract."


What was the sentence?
Click to expand...
I'd guess it's something like -

Purchaser is allowed access to make improvements to the property as soon as deposit is paid.
 
keithj said:
I'd guess it's something like -

Purchaser is allowed access to make improvements to the property as soon as deposit is paid.
Click to expand...

Shhhhhhh Keithj...you cant just tell people for nothing this "top secret" "professional" stuff.

Keithj why dont you start your own newsletters and offer special "trade secrets" seminars and tapes all for "reasonable" prices.

First just think of some mundane or obvious thing you can do in the world of property. Then the trick is to come up with a "enticing" question to lead to that answer/action. Then attach that answer to a "value" added service.

Item: "self management of your IPs"
Question: "Would you like to know how I and other professional investors put $1000's extra in our pockets each year that most non-professional investors miss out on?"

Item: "Trusts (HDT)"
Question: "Do you know the secret of how I and other rich protect distribute $1000's of dollars a year to their family without paying any tax and claiming full tax negative gearing deductions?"

Item: "Painting an old worn out IP"
Question: "Do you know how I quickly and easily turn an investment of a few hundred dollars into thousands of extra equity and vastly increase the rental return on every IP I buy?"

Item: "Getting Married"
Question: "Find out how I bed an attractive young lady each and everynight?"
 
Last edited:
I'm going to the Melbourne seminar this weekend.
I figure for $97 I only need to pick up one or two ideas for it to be worthwhile!
 
:)

always_learning said:
Shhhhhhh Keithj...you cant just tell people for nothing this "top secret" "professional" stuff.

Keithj why dont you start your own newsletters and offer special "trade secrets" seminars and tapes all for "reasonable" prices.

First just think of some mundane or obvious thing you can do in the world of property. Then the trick is to come up with a "enticing" question to lead to that answer/action. Then attach that answer to a "value" added service.

Item: "self management of your IPs"
Question: "Would you like to know how I and other professional investors put $1000's extra in our pockets each year that most non-professional investors miss out on?"

Item: "Trusts (HDT)"
Question: "Do you know the secret of how I and other rich protect distribute $1000's of dollars a year to their family without paying any tax and claiming full tax negative gearing deductions?"

Item: "Painting an old worn out IP"
Question: "Do you know how I quickly and easily turn an investment of a few hundred dollars into thousands of extra equity and vastly increase the rental return on every IP I buy?"

Item: "Getting Married"
Question: "Find out how I bed an attractive young lady each and everynight?"
Click to expand...

Hilarious! but I've done all those...can you give me some more :p :D

ps. curious as to how one ascribes value to the last item :eek: ;)
 
always_learning said:
Item: "Getting Married"
Question: "Find out how I bed an attractive young lady each and everynight?"
Click to expand...
I tried that, but the attractive young lady is no longer quite so young. So how did you get around that?

(I tell my staff that MrsW gets to be a manager at Subway because she sleeps with the boss).

Back on the topic- I would have gone to the seminar if I had not just been to a Spann event a couple of weeks ago. It appeared to have a good array of speakers at a very resonable price (obviously the credit card had to be left at home).

Dymphna has been recommended by Dale, and has been mentioned for her seminars in a few threads- such as http://www.somersoft.com/forums/showthread.php?s=&threadid=12564
 
Hi Tubs,

Appreciate your concern regarding Carlo Castellano the presenter of options trading at the weekend I just attended.

After reading the ASIC statements from your links it only says that ASIC were getting toey regarding some of the claims he makes in his presentation, they did not say anything about whether he or his offered course was good, bad or indifferent.

By my posting I was not implying that I was signing up with Carlo Castellano only that his presentation of options trading had piqued my interest and I am now on a mission of due diligence re options trading starting with a book I purchased in a Brisbane bookshop by Guy Bower.

I also intend to read the options trading info freely available from the ASX website and then once I feel confident that I understand the processes and terminology I will be making further searches for the right software so that I can do maybe 6-months paper trading before even dipping my toe in the waters of real life options trading.

As I initially stated in my post both my wife and I feel that the property market is too flat right now to make any more purchases, including renos, so adding another string to our bow in the form of options trading seems like a good direction for us right now.

So to reiterate my first question... Are there any forumites that are doing/have done options trading or similar, what are your comments/tips/advice and what software do you recommend?

Cheers, Nobleone.
:D
 
Nobleone said:
So to reiterate my first question... Are there any forumites that are doing/have done options trading or similar, what are your comments/tips/advice and what software do you recommend?
Click to expand...
Tips -
Read anything by McMillan.
Make sure you're really good at trading stocks first.
You have to have the right mindset to trade at all.
It's not bricks & mortar - you can easily lose everything.
 
keithj said:
It's not bricks & mortar - you can easily lose everything.
Click to expand...
Peter Spann says that it takes a very particular mindset to succeed at options trading- he does still receive mail from time to time from people who have lost their house ("I just put it down their, and when I looked again, it was gone").

Software can be useful- but "black box" software, which makes decisions for you instead of just displaying graphs etc, is probably overkill.
 
keithj said:
Make sure you're really good at trading stocks first.
.
Click to expand...

I havn't traded Options and am arm chair expert re shares. I know various people who have traded options , and they all say this advice.

All options do is give you greater leverage. If you can't trade shares successfully, options just speed up the losses. I know or know of several people who have tried options ( or Futures trading ) and am yet to meet anyone who has made enough money to make the effort worthwhile.

Had a chat to one yesterday and he ended up giving up for that reason. He could make money but it required a lot of effort, and he felt that the reward didn't justify the time involved.

I'm sure they're out there.

See Change
 
Options trading is a highly leveraged and risky type of investment.

The odds are stacked against the options purchaser.

Lets say you purchase a call option (ie you want the stock to go up). The very next day the value of the option starts to de value due to time decay.

The option also has to move towards your target price. If the stock goes sideways then the option keeps loosing value due to time decay.

The other problem you can encounter is liquidity.

The vast majority of options contracts expire worthless. Therefore the majority of investors loose.

In the past you could have purchased long term option contracts. This gave you stock a better chance to go past your target in order to be "in the money"

Investor psychology also plays a large part in trading. Therefore if you have a large account to start with then small losses may not appear as magnified. This allows you to confidently stick to your trading plan and treat losses as a speed bump and not a road block or even worse cause you to make rash decisions in order to "win" back your losses.

The winners are the writers of the options. These investors simply write options against thier shares for increased yields.

Good luck
 
Hi Nobleone

Great to have met you on the weekend. I'm suffering from information overload, I think it was great value for $97 and the caliber of the speakers was excellent.Unfortunately i didn't leave my credit card at home and was tempted by one of the dangling carrots, but that's another story.

Cheers
Foston
 
LoL..... love reading all the comments on options by people that dont trade them...especially the "you need to be a good share trader first".


like saying you need to be good at soccer before you should play rugby.

2 different games :)
 
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