Should I Join this Commodities Training Program?

I am new to this forum as well as to commodities and stock market in general. I am very much interested in making a mark in either commodities or stocks or both. I know it is risky to join them without proper training or knowledge and hence was looking for a complete training program (basics to advanced) levels.

I found a company in Chennai (Prakasan Associates) undertaking such training programs for stock market as well as commodities separately.


I attended their free seminar recently and found the founder's (Prakasan) to be a genuine in his teaching and was sounding very much confident in his teachings and his success in the program at the end of it. He promised that he can make those undergoing training to be confident enough to face the market after the training. He also sounded too confident that he can refund the fee if one feels the course to be not worthy!!

The fee for the commodities training course is said to be Rs. 18,500! Which I found rather very high and was wondering whether will I be able to at least recover it from the markets after the training!

He was said to be teaching the fundamental and technical analysis as well as a strategy to win on both bull and bear market in commodity. I have read about both fundamental and technical analysis on various books and know a wee bit of it. It is said to be a 2 days training program of around 7 hours each.

My questions to all the experts and helpful fellow forumers here are:

1) Is Rs. 18,500 worth to join such course for a newbie like me
2) Will I be able to recover it if I was found successful in being able to trade at least decently or basically.
3) Is 2 days training enough to jump the bandwagon of commodities?
4) Should I join this training program to start out my career in Commodities.

Additional questions:
a) Has anyone joined the training program organised by Prakasan associates?

You are not going to learn anything in two days.

First check out some technical analysis videos on youtube and read some books then you can decide whether you want attend a course or not.

Thanks for the advice Aryan. Point taken down. But to be frank I am a bad learner when it comes to reading books! I know 2 days will not be enough to learn everything. Will there be anything that they teach which may be worth to keep note any system to follow, etc., which may be worth Rs. 18000? Just curious to know if there are any such things to guarantee at least 50-80% success in commodities, to learn from them?

Dude seriosuly , nothing can be learnt and nothing can be taught in 2 days ...i think its a scam ...i think they are making use of the innocence of people who dont have nay experience / knowledge in trading and assure them u can learn everything in 2 days ..

You said u went to the Free seminar right , what they taught in that seminar ?????

If they teach the concepts its not enough , ask them whether they can teach u in a realtime market ....

In the free seminar they were teaching about the basics of commodities and the stop loss method to follow to be successful..! He was basically talking about gold and crude oil to get started with and was talking about various strategies in which we can earn 100% returns every year....! And that way we can become rich, etc.

he was sounding very very confident that with his method he had become hugely successful and rich!! And is doing the teaching only for passion.

They are not teaching on realtime market but only on saturdays and sundays!!

Just teaching about basics of commodity trading and Stoploss and some stuffs and that too in sat and sundays , foe this they charged Rs 18000 fees ? did he talk anything about the technical analysis like double,Triple tops,Hammers,Reversal patterns ? ... ...

How many people came to the seminar ..?

The seminar was free and attended by around 40 people but the actual course details are given here which costs 18 k and happens next week for the full 2 days:

http://www.prakasanassociates.com/wincommodity.aspx

Not sure whether the course is worth it for Rs. 18 K

if they had a successful strategy they would not be wasting their time teaching u for money. they would be busy earning and post their strategy in forums either to help others or to invite improvements and suggestions!

No idea about the training programme...but no one can become a successful trader by attending 2 days seminar......just not possible...it takes years of practice and hard work to become a successful trader. In 2 days they teach you a formula and method which will be profitable in some chosen period....but the data sample changes and the method becomes unprofitable.

To trade successfully , one has to understand the structure of the market which he is trading. Else we see methods flip flopping buy/sell every 10 points and end up making 5 losses in a day. Very common sight these days....

It takes min 2-3 years to become a profitable trader.....

Given you the facts about trading.....there is no formula which works consistantly in all types of market......to attend or not is your call...but I wont waste Rs 18000 on 2 days ,that is for sure....

Smart_trade

Is there any one who could help me with historic IEOD commodity data for MCX,or would there be any serious traders who would be willing to share the cost of purchasing the data from MDP.