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May 02

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Knowledge to Action (K2A) – Greg Secker

I had already decided that I was going to attend some formal forex course to help me with my personal Forex Trading Journey when I went along to one of Knowledge to Actions (K2A) 2 hour free seminar in Cambridge at the end of January 2010.

First impressions was that this was a sales pitch and nothing else; the guys were dressed in poorly tailored suits which didn’t go to meet peoples expectations that we would meet successful traders earning a mint. Of course since realised you can be trading very well and not be earning fortunes, but the first impression in any case was what I or the other 20 or so people expected.

The guy (Paul I think his name was), did a relatively good job explaining the forex market and it was possible to make money from the market. He handled the usual questions on “this can’t be true”, “this is gambling”, if you are a successful trader why are you doing this” quite well. He did boast a little too much on how his 12 year old daughter trades and how he likes to take his family out for a £500 meal and likes to have his suits made whilst being served coffee.

At the end of the seminar in which he gave no real idea as to what strategies one would follow to make money they came out with sell. For £2000 + vat (disc from £3000) you’d get a 2 day Forex Training course, 3 coaching sessions of 30mins each and a Greg Secker DVD set. I had money that I had to use for retraining (any nothing else) so I went for it.

2 Day Forex Seminar

The 2 day seminar at their place in Fulham was interesting. The course was packed with 30 other people and we were all given a manual which contained 3 of Greg Seckers strategies that he teaches on the course. 1 for end of day and 2 intra day.

The Good bits :

  1. The instructor was laid back, fun, interesting and had a few of trading ideas over and above the ones in the manual
  2. The course went from “this is a candle” level to brief mentions of Fibonacci
  3. Relaxed and motivating atmosphere
  4. Easy to follow step by step guide as to how to implement each strategy
  5. Good overviews of the forex market and how it works

The Could do better bits :

  1. No food given !!! For £1000 /day per person you think they could stretch to a sandwich!
  2. Because it starts from basic principles it can be slow for some people, but then moves quite quickly during the day leaving the slower ones behind.
  3. There is nothing in the course that you cannot read in a few £20 books and read for free on the internet
  4. It is overpriced. It is priced at this level, in my view as people must think “if its this much; it must be good”. I have since seen similar courses for a less than half what K2A charge.

Finally; if you have the spare money for training from redundancy like I did look good and hard at the other options. If not, you can DIY by reading and finding some top up courses elsewhere that can really get you moving intpo trading. For me, K2A, even though was not value for money, it got me going.

2 Day Forex bootcamp

This was promised as a chance to trade “live” with 15 other people and a lead trader for 2 days and 9 more coaching sessions.  Here you would put into practice what you had learnt on the 2 day Forex course. I went on this in April 2010 and it cost another £3000 (used up the last of my training allowance from my old employer – had to by July 2010). For me this was the biggest disappointment bordering on farce.

The Good bits

  1. Met some other people who seemed serious about trading full time forex
  2. Found a good Brazilian cafe that served superb Caipirinha’s!

The Could Do Better :

  1. Be prepared – the coaches didn’t really have much of an agenda or seemed organised to handle the event
  2. The internet didn’t work for the 1st half of day 1
  3. Still no food!
  4. We didn’t start until 0700 so a lot of market had moved by the time we all got online by 0730 ish
  5. Out of 2 days there was 1 trade (that was a discretionary trade) that made money – not 1 of the strategies taught on the course were taken by “professional” traders which left all of us a little confused

This was  a no brainer piece of advice for me – don’t waste your money. If you look hard enough around London area you can find the same thing for a lot less.

They also try to sell you eSignal for $100/month and tell you without this you won’t have an edge. In my opinion this is a disgrace – I was the only person not using eSignal so I imagine how much the kick back was to K2A for those referrals.

In summary I am more convinced that Greg Secker makes more money from training that he does from trading as do his coaches. Have not seen or heard anything since to make me think otherwise. I am sure these guys trade and maybe some of them trade successfully, they talk a good game, just something in me isn’t 100% convinced of them as I am of what they sell.

You will not be consistently profitable when you finish the course and probably not after spending £’00?s on coaching. It’s a time thing which I am still going thru.

I am still doing the coaching sessions with my coach – I’ll give a final review on these sessions when I have finished them.

Jimmy

PostScript Jan 2011

Having some time over Xmas and New Year I created some EA’s on the K2A 5m strategies using their 20/20 approach and recent high/recent low approach to Stop Losses and Targets. Quick answer : they do not work in the long term and I tested them over 5yrs on EURUSD. Profitable trades was less than 50% so when targeting 1:1 the odds are against you. There are months where the strategies work, but long term you will lose money. Anyone wanting a copy of the results send me a line.

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Permanent link to this article: http://intradayforextrading.co.uk/2010/05/02/knowledge-to-action-k2a-greg-secker/

12 comments

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  1. Jenhuei

    Hi Jimmy, thanks for the post. I am from Singapore and I am an attendees of Greg’s Ultimate Forex training program too, today will be the 2nd day training. I am intended to sign for the bootcamp as they claim their 1st day target is to get back what we have invested into the course – $3995. That’s what attracted me, but luckily I found out your post. I am really curious how they can earn $4000 in one day with capital of about $15,000 just based on the 3 strategies.
    I have studied their strategies and found that sometimes we can’t even place a single trade based on any of the strategy in one day…
    Anyway I think someone’s suggestion is quote true, If I use the course fees which is $3995 to spare as losing trades, I believe I can definitely learn more lessons than the 2 days bootcamp. If I didn’t evaluate all the losing trade and examine and learn from mistake, then mean I am not serious in trading. So we have to learn the lessons ourselves.
    Anyway I am on the way to the 2nd day training class, am thinking to gather a group of newbies who are keen on trading fully time and keep in touch with them, it’s more efficient.
    Thanks for ur post!
    Jenhuei

  2. Jimmy_FX

    Jenhuei,
    Well it is worth me writing that post if it has helped someone make a better decision !

    k2A talk about risking just 1% of your capital on each trade….making $4000 back with an account size of $100,000 would be impresive over 2 days……I assume most people on the course do not have account sizes of that nature. So to infer a claim like that is not really realistic.

    Most trades that K2A recommend on their Daily Trade Service are straight 1:1 ratios….which makes the target for the bootcamp even harder.

    Hope you guys get at least a Nasi Goreng thrown in with your course! :-)

    Good luck with your journey
    Jimmy

  3. Kaz Sharp

    Hi Jimmy
    Just received an email from this group to attend the free two hour session at the gold coast. Am already trading live since Jan 2010 and same thing the best lesson is going through the moves yourself.
    I found lacking easy to understand intraday trading advice, I simply use S&R and I realise now I have been gambling rather than trading, which is why I was interested in this seminar.
    Thanks for your honesty as I will give it a miss.

    I am using a program at present which is excellent but it is more for day to day trading.

    I just like the intraday trading as I can see so many opportunities if I could put some more technical analysis into play.
    Anyway just wanted to say thanks.

  4. bambammarket

    Just read this and made me laugh – their taster course was what got me hooked on trading. Luckily for me i was too skint back then to have that sort of money to sign myself up!

  5. Nick

    I am glad i saw this. I signed up to attend free meeting but I don’t think I will bother now. Cheers.

  6. Sen

    Hello Folks!
    I was about to join Greg Seckers K2A FOREX Course in London by paying GBP 3k. Now I decided not to join.

    Could any one suggest which company runs a BEST FOREX Course on the Earth?

    Seniors can send us any valuable FOREX Video tutorial links if they come across any.

    I have zero knowledge in FOREX , will take few months to study basics.

  7. Sen

    re

    Hello Folks!
    I was about to join Greg Seckers K2A FOREX Course in London by paying GBP 3k. Now I decided not to join.

    Could any one suggest which company runs a BEST FOREX Course on the Earth?

    Seniors can send us any valuable FOREX Video tutorial links if they come across any.

    I have zero knowledge in FOREX , will take few months to study basics.

  8. Dave Wills

    Hi everyone!

    I’ve sat various courses with k2a and have a mixed picture. The FX course was ok but the same as there stocks and shares one. The bootcamp I did was very good and actually made some money. Also did the mastertrader fx course which isn’t worth the money.

    The value was in the coaching as my coach helped me take the strategies and trade them suited to my time and to me. He said that most people fail in forex as they are not consistent and that I should backtest the strategies like he did.

    Haven’t got the alerts but I suppose they have to do what the basic book says and can’t add in their own flavour!

    Dave

  9. JB

    To all those people who have cancelled their courses, well done. There is nothing you will learn on any of these courses that you cannot pick up from some books. If you have never traded before and won’t miss £3k, then you might benefit, but you’ll have paid well over the odds.
    K2A is a sales company, not a trading house. Backtested, the strategies they teach are not profitable. Very telling that none of their traders actually use the strategies taught on the courses.
    90% of the guys giving those seminars couldn’t trade their way our of a paper bag.
    If you want to learn to trade find someone who you know has made money doing it and ask for their help.
    I know 3 people who have done k2a courses, none of them have ever made any money on a consistent basis using what they were taught. I also know a professional trader who made it very clear before taking the course what he already knew, the K2A guys insisted he’d learn a load of new stuff- nonsense

  10. SIR

    WOW, what disappointing reading.
    I am off this w/e for the ultimate ForEx course, and I have hi-hopes.
    I too was told I would trade back my fee during the boot camp… funny how that never went into writing eh

    A very disappointing read, just clutching straws… did any of you guys really try hard to follow the strategies??

    Cheers
    @@@@@

  11. Peter

    Hi Jimmy,

    I posted a comment on your other blog about K2A, but didn’t realise who you were until I received the email with your picture lol.

    How are things? Get in touch…

    Peter Visser

  12. IKD

    Well, well, well,
    Just finished writing my letter requesting my £500 deposit back and demanding that they don’t take the balance of £3500. I was at the ‘Free’ meeting last night in Aberdeen and only gave in when the £13,500 price came down to £3500 which included another £3000 freebie. I even walked away without my free Hot Stick.
    The presentation was good but I should have walked with the other six attendees. After doing my research today by punching in K2A I found too many negatives and I too believe there is more money to be made doing the sales pitch.
    Thanks Jimmy
    Ian

  1. Ultimate Forex Profit - Guizai

    […] worth. I will just skip those formal review, more information can read on Jimmy’s blog here Knowledge to Action (K2A) – Greg Secker. But on top of that, I will like to add in a few more points here: – This course gives a very […]

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