Back in 2003, I started up a small business managing the advertising inventory for digital publishers in the financial vertical. I’ve done that job, full-time, since 2003 and so with approaching 15 years of experience in the sector, it shouldn’t come as much of a surprise when I say that I have probably seen most offers, promotions, adverts and so on that the industry has to offer.
Over the years, I have seen many ‘traders’ come to market to show that they can teach people how to trade, make money, invest wisely and more.
Typically, these ‘traders’ tend to talk the talk but rarely walk the walk.
I could name names, but I won’t do so publicly. However, suffice to say that I’m not aware of anyone who makes a big name for themselves who I would put my money with.
My colleague Michael, here on The Armchair Trader, mentioned Siam Kidd to me a few months back, and honestly I had never heard of the guy.
However, when a ‘free seminar with Siam Kidd’ popped up in Cambridge, which is quite near to both Michael and myself, I suggested we go have a look and see what it was all about.
I’ll admit to a certain degree of scepticism before we went, mostly because I’ve probably seen and heard it all before.
The evening was presented as follows, with the following being promised:
- Why Savers are being destroyed.
- Understanding the pension fallacy.
- Why you NEED to become an Investor even if you don’t want to trade or run your own business, and
- Why most people will never be able to retire
This seminar agenda was taken from Siam’s Facebook page and isn’t dissimilar to his page here, at http://cambridgetradingseminar.co.uk/. You’ll note the screenshot below where this message is repeated.
So, what happened?
Well, first of all Siam Kidd wasn’t present – but we only found this out on the day via an automated message on Facebook.
Instead, our presenter was going to be the other chap in the above picture who goes by the name of Alex Upton, a “top RT trader” (presumably RT meaning ‘Realistic Trader’).
I signed up via Facebook, along with 157 other respondees, so you can imagine my surprise when we arrived and found that there were 7 of us present – and that included Michael and myself.
A bit quiet, I thought.
Alex tells us that this isn’t the first time this has happened.
The topics that were presented on-screen when we sat down bore little or no resemblance to the ones that were ‘promised’, so I have to say my alarm bells started ringing at this point.
What we got initially was a bit of – sorry Alex – fairly boring history about yourself and we’re not interested in you other than you’re the presenter.
Then we get a similar amount of talk about this super guy Siam Kidd, who apparently ‘runs thirteen companies’. And here we have our first untruth, because he doesn’t – at least, not according to Companies House, because I checked.
Here’s a list of Siam’s current business interests as of May 2017:
- Float Holdings – est. 18/8/16
- Xenan Partners – est. 13/1/17
- LMA Group – est. 28/10/16
- Wealthy Cycle Investors – est. 12/10/12 Dissolved. Liquidated showing DLA owing of £99,000
- The Realistic Trader – est. 22/10/13
- Zoccer UK Ltd – est. 3/7/13 Dissolved, never made any money
- The Bullion Circle Ltd – est. 11/12/13 Resigned, nominal profits
- Momentous Conventions Ltd – est. 21/10/13 Dissolved / Resigned never made any money
- RT Community Ltd – est. 6/5/16 Dissolved
- Drift Pods Ltd – est. 6/5/16 Dissolved
- Xenan Acquisitions Ltd – est. 6/5/16 Dissolved
- The Wealth Action Plan – est. 6/5/16 not yet filed accounts
- Xenan Holdings Ltdest. – 27/7/15 Not yet filed accounts
- 4BM Ltd – est. 17/5/16 – Resigned Never made any money
So, it’s actually 14 companies, 6 of which have been dissolved, and 3 of those never made it to year 1 or filed accounts, 4 of which have never made any decent profits from the accounts they have filed.
He’s resigned from a further 3.
So currently only 6 (sorry Alex but this isn’t 13), 4 of which have been inc for less than a year – so their future doesn’t look too good based on the others that haven’t made it to Y1.
One of the longest serving companies is, yes, The Realistic Trader
Then we get told Siam Kidd used to be a pilot in the RAF flying fast jets.
All well and good but hang on the guy is only 31?
A quick search reveals that Siam is indeed associated with the RAF and probably did fly with them – but why does his LinkedIn page mention 24 Squadron? These guys fly Hercules, not fast jets. So, possibly another untruth there.
Me, I don’t care much whether he flew jets, Hercules or a paper aeroplane, but just don’t make it up because it looks like you’re lying to me, and there’s nothing I dislike more.
At this point – about ten minutes in – I must confess I turned to Michael and suggested that we leave because I knew what the rest of the content was going to be. It was going to be smoke and mirrors, promises of you can do X, Y and Z, and followed by a small sales pitch, probably for a product around £1000 where you could really ‘learn’.
And I wasn’t disappointed. This is almost exactly what happened.
I have to say that I spent about 40 minutes picking my nails, thoroughly bored with Alex and his presenting style which involved him forgetting lots of things, not knowing what he wanted to say and so on.
I’m sure Alex is a lovely guy but as far as I’m concerned he doesn’t have much of a future as a presenter, and I’ve seen a few. I’m not saying that I’m a presenter because I’m not – I know my limits – but clearly Alex doesn’t. Or maybe he was just having a bad day.
At the very end of the seminar, we were ‘promised’ a free strategy which would really help us with our trading, so as it got to the end I had a glimmer of excitement as to what this gem would be. And you know what it was? It’s a tired old MACD moving average crossover strategy that I think I first saw demonstrated about 10 years ago by a failed wannabe trader.
Let’s make this clear: MACD is a flawed system. It’s BS. It doesn’t work.
And you know why?
Because indicators are lagging. They cannot predict.
Even in Alex’s carefully chosen presentation, there were several instances when, if you followed this ‘strategy’, the market would have handed you your ass on a plate because it’s flawed.
Were it that simple, everyone would be trading MACD crossovers – but they’re not because it’s garbage.
Following on from this we had a further 5-10 minutes with Alex waffling on about ‘stop loss’ and patronising most everyone in the room in the process. Michael and I then got up and thanked Alex and left.
Honestly, I was amazed that no-one else did.
So, Siam Kidd, if you’re reading this – here’s my proposal for you
Here I am.
An experienced part-time trader and investor, and quite honestly I’m struggling to find so much as a minute’s worth of use in your seminar, and it hasn’t turned out to be anything other than a blatant sales pitch at the end, which is just the same as other ‘educators’ have done over the years.
Are you just the latest ‘educator’ who doesn’t educate?
Please, please get in touch and prove me wrong because I’d love for you to do so and put me right in my place.
By all means, offer me a place (for free) on one of your next paid seminars if you’re so confident, and I promise you that, as The Armchair Trader, we will write a completely impartial review of it and publish it on our site for all to see.
I have a good traceable history on the web going back as far as 2003 that anyone can check and call me out on, so I’ve nothing to hide.
I fear the same cannot be said for you because it looks to me you’re just another salesman who makes his money from his courses – and not his investments or his trading.
You may very well have made some good trades in the past, I don’t really know – but what you’re doing here is garbage.
But, like I said, I’d be very happy if you can prove me wrong and no doubt be your biggest advocate from that point on. So step up and prove me wrong, please. I’d like nothing better.