Buying financial spread trading package - home-based business packages

geek84

Hi folks

Has anybody bought one ofthese packages to do some trading from home? I had a leaflet dropped through the letter box the other day advertisingsuch a package developed by a Vince Stanzione. Has anybody heard of him? Itclaims that large amounts of money can be made by trading (working) from home,sitting in front of your PC and having internet access. The course costs £200, and provides free access to all sorts of resources on his (VinceStanzione) website regarding trading, daily updates on price changes regardingstocks & shares etc, and software that helps you to trade.
Do you think it is worththe money and that I could make at least a small amount of money, or do youthink I would be a waste of £200?
Thanks in advance for your responses.

torbrex

if it is such a good system, why does Vince need to sell it for £200 a pop?

geek84

Hi torbrex

Yes, that did cross my mind? Do you think it is a bit of a scam?

googler

How much info can you gather from the interweb by googling

"spread trading 101"
"spread trading beginners"
"spread trading starting out"
"getting started spread trading"

or variations...?

Based on the results of searches like this, does it look as though the course would be worthwhile?

torbrex

I would say that it is all scam rather than just a bit of one but that is only my opinion and I certainly would not even think about putting my money into anything like that.

geordie_joe

torbrex wrote: »

if it is such a good system, why does Vince need to sell it for £200 a pop?

The same reason everyone sells money making "ideas", "schemes", "plans" etc. Because they know the only money they will ever make from it is the money they get from selling it.


PS. I know you already know that, but some readers may not.

geek84

Thanks for your replies, folks.

cazmanian_minx

I'd save your money and buy a copy of The Naked Trader's Guide to Spread Betting by Robbie Burns instead (plus The Naked Trader if you need a grounding in stock market basics - the spread betting book assumes a certain amount of knowledge). You can get both on Amazon for under £20 (less if you're buying on Kindle or secondhand) and they're excellent easy to understand guides.

geek84

Thanks

Does the book have enough info for a beginner to start trading and make a decent return?

Opinion

The books are a decent starting point. You have to remember that spread betting is extremely risky. You can [very easily] lose a lot more money that you put in. The commonly thrown around figure is that less than 10% of people make a profit.

Spread betting definitely isn't something you should do because you want to make a "decent return", because it's highly unlikely not to happen.

droopsnoot

I have heard of this guy, I got a few chapters of his book (I think he offers to send the first few out as a taster) but didn't take it any further. As I recall we have the standard brochure showing photos of Vince in a marina (boating marina, not a Morris Marina....), Vince near a big house, and so on. Unfortunately these things just look false to me, even though I accept they might be perfectly above board.

I always wonder (like torbrex) why these people need to sell their scheme if it's so good, but then I guess the other side to that question is 'why not?'. If I had figured out a nice scheme to earn myself some money, and I could earn some more by selling other people the information on how to do it, that's not a bad bonus as long as their success doesn't impact on mine. But then geordie joe might be closer to the truth.

I would say, look for the money-back guarantee and read it carefully. If it doesn't come with one, forget it, don't touch it with a barge-pole. If it does, and it's truly 'no quibble', not performance-related for example, then you have nothing to lose as long as you trust that the money will be returned. I did have a link to a site that reviewed all these money-making schemes to see which were do-able, who honours their guarantees, and so on.