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WIN investing
by Karmacat
How interesting to see WIN Investing in this cateogory! I've been to several WIN Investing events - a couple of the afternoon freebie events, their big two day course and a re-run of the two day course when they added a third day about psychology, once they realised that trading success depends on traders understanding and coping with ... both their own psychology and the market's. And markets can be said to have a psychology of their own - the aggregate of all the individuals making trades, of course.
At any rate. The taster event is held all over the country, on a regular basis. The website currently advertises a couple of events each in towns like Slough, Milton Keynes, St Albans, Manchester, Birmingham, Nottingham, and so on. By now, of course, it has become a franchise, with speakers taken on to spread the word - it was originally only Darren Winters, the man who founded it, and one or two selected others, who had real presence - now, it feels like another viral marketing organisation, eager to rope you in to get you to pull others in.
The information it gives, however, at both the short and the long events, is good, as far as it goes - and how much information can you give, in any case, about such complex organisations and processes as the international financial markets. stock market trading and derivatives?
WIN Investing covers both fundamental and technical analysis. The former is the study of the financial health of a company or a country - the balance sheet, in other words. The latter is the analysis of whats called the price action, the way the price moves. Literally hundreds of books, and hundreds of websites, exist to study both these areas, and WIN Investing, of course, can only give the briefest outline of whats actually out there.
It has to be said that that brief outline is overwhelming to some people. Although the course is pretty expensive - hundreds of pounds a day - on both the courses I went on, there were several people who didn't show up for the second day.
They make much of the multi-coloured crib sheets of chart patterns, and they're good. In fact, I was looking at my WIN Investing notes literally yesterday, and they're still pretty good. I've synthesized them with other things, of course, they're not the only things I rely on, but its not actually a scam - they do give you something for your money. Even although it seems like they give you a lot, it isn't - there is so much to learn, any course by anyone can only be a drop in the proverbial bucket.
At the big two/three day events, there can be a couple of thousand people, with one main speaker, and up to a score of people around the edges of the crowd, with event t shirts on, offering to answer questions, which is unnervingly over-enthusiastic. Still, they actually are ordinary people who've managed to use the information they've been given by the WIN Investing courses to start to make money for themselves.
There's also a monthly evening run in London, and people who've attended the big events are given a free pass to their first monthly meeting. These are much smaller affairs, anything from 50 - 300 people - and I have a sense that only people straight out of the events attend them. For most people, over most of the country, they're too difficult to get to, being in London for the evening. The two or three that I attended weren't terribly well planned or signposted either, which led to a lot of frantic to-ing and fro-ing across London. I didn't bother attending any others, after that.
There has always been a kind of guarantee, that if you do what the course says, in exactly the steps that it says, and provide proof that you have - if you don't make money doing this, the course fees will be refunded. Sounds good. And the advice is sound - do your research, then do 30 paper trades, then start as small as you can with real money. The reality is that very, very few people truly keep that level of records about their initial research and their paper trades. I know I didn't: I have notes and research dating back to 2006 on my computer, and even I didn't do it.
The notes you're given for the duration of the course, and to take home with you, are good, no denying it, though often very simplistic. But, once again, they're good pointers towards what you need to know about.
Its the oldest of the generalised courses on stock investing, and probabily still one of the best. But there's a lot of competition out there, and its probably best to check out the freebie events first, before committing to paying out money. Believe me, there's a lot to learn, and finding out your best route in to the market is worth a little time and effort in itself.
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State Pensions
by Trishajs
I wish people would stop complaining that the state pension is not only getting further away. but also that they will never be able to afford to retire, because the state pension is so low. Yes, it is true that we have. compared to many other countries a poor pension scheme., but this is not a new fact, I have known the pension scheme ... was going to be a help, but not a solution since the day I started paying my national insurance stamps. And yes, when I started it was just that- STAMPS!
I am not by any means well off, but I live realistically, knowing that I am not only earning a living for the times I am at work, but that I also need to provide for my retirement.
The problem is, we have all come to expect too much, we want what we want, rather than need what we need.
Quality of life is important, but if I can only afford 5 nights instead of 7 for a holiday, because the other expenditure goes into my pension pot, then so be it.
If I watch the news rather than buy a paper, if I price compare and don't buy a new handbag, until the current one has worn out, if I don't have satellite TV, if I, If I, if I.... well so what?
There will be some people who are living on or below the poverty line, and I am not targeting them with my comments. However, I am getting upset because I hate that financial education in this country is so lacking. I want people to have a quality of life and, if their desire is to retire before they drop, I want them to have the wherewithal to do it.
Please look at the state pension, as finance that will assist you in your retirement- but it will not allow you to live. It is always better to start saving when you are younger, but however old you are it is never too late to start.
You can go onto DIRECTGOV and get a pension forecast and I suggest you do, and then have a look at your own budget, and you may find you feel somewhat concerned. State pensions will soon be linked to earnings, a benefit that was removed under a former government, and this will help. However, it will not be a miracle cure. You will need more money and you will need to be doing something about it now. If you have other pensions then add them up and decide what your shortfall is, chances are you won't be able to plug the gap, but you can help it remain as a gap, rather than a canyon.
I am well aware how pension funds have lost a fortune during the recession, and so a cash ISA might be a sensible secure plan- but as long as you do something. I have had the comment that my shares have lost value, and I point out that whilst it is true that they have, they are still worth more than the zero holding that the person making the comment has.
Trust me on this one, unless you are in a job that you love and will be able to do as you get older, then chances are, you will want to retire at the earliest opportunity. Do not be a would have, should have, could have person. - you can make changes now. If you don't think you can afford a penny, then do my favourite money saving tip- write down every penny you spend in a month and I defy you not to find some non essentials. Always get rid of debts first, (unless you have interest free debts), and then start planning for the future.
Life is not a rehearsal; don't let the final act spoil the show.
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