Forums / Property Investing / Help Needed! / Aussie Rob – Lifestyle trader

Viewing 20 posts - 1 through 20 (of 43 total)
  • Profile photo of vet80vet80
    Member
    @vet80
    Join Date: 2010
    Post Count: 9

    Dear all,

    I am looking for feedback from anyone who has legitimately trialed the aussie rob software. Aussie Rob was at Steves mega conference back in 2010 and I know there were many many people who purchased the software. I did not purchase it at that point but I did a few months after this conference (initial investment $14000 followed by $200 monthly fee) when I heard Troy Beer at a Pat Mesiti conference. My partner and I have judiciously completed all training, attended all seminars, completed all the online modules however are incredibly stuck. It has become very apparent that we require approximately $60,000 in order to be able to trade commodities to comply with appropriate money management, which we do not have. We have been following forex but have not made consistent profits paper trading for the year (although we do believe we have followed the instructions as we should) and hence do not feel comfortable going live as the company says you must make profits before going live.

    We have communicated multiple times with the company however we always get a sales pitch in which they try to sell us 'one to one coaching'. I have no doubt this would be beneficial, but can not stomach letting go of a further $5000 when we are not making any sort of profit yet. I feel we are intelligent people (both my partner and I are veterinarians and so disciplined and used to hard work) however I am finding it really difficult to keep on going believing in this product. 

    It also appears the company is going through a fair few changes interms of staff profiles (our account managers have left/ quit/ are replaced as are other key individuals in the company), the company is rebranding among other things.

    So is there any one out there with an opinion who also feels they have given this company a fair go and has an any advice on whether it is worked for them or not?

    Your thoughts much appreciated as its getting hard to decide whether to persist or just move on.

    Cheers

    Vet80  

    Profile photo of Andrew_AAndrew_A
    Participant
    @andrew_a
    Join Date: 2003
    Post Count: 392

    Good luck Vet80, I could say volumes but it seems you are a smart person and there's already plenty written on the net and searchable about this company. It's a lucrative business if you are on the right side of the 'education' trade.

    Surprised to know that this company was at an event organized and endorsed? by Steve, makes me view him in a different light now if that's the case.

    For a solid dose of reality you could try 'Trade your way to financial freedom' by Van Tharp, corny title but solid fundamentals. Also the books by Brent Penfold should clue you in about what's possible in reality with a retail trader vs the markets.

    Profile photo of DerekDerek
    Member
    @derek
    Join Date: 2004
    Post Count: 3,544

    Hi Andrew,

    There are a group of 'educators' who regularly participate in wealth creation platform speaking events. The wealth avenues include everything from shares, property, internet marketing, e-bay marketing, social media marketing and so on. The list is almost endless. Aussie Rob does participate in these events along with the likes of Rick Otton and others.

    A lot of the events are co-ordinated by Pat Mesiti and Greg Owen and each speaker endeavours to get as may people as possible. The events themselves are free and the speakers follow a formulaic structure which starts with some self depracating statements and ends with now look me and my wonderful ifestyle. you can do this too (approx 20 steps in between) – all you need is to buy this package, followed by some classic upselling strategies and is usually followed by a stampede, and I use that word deliberately, to the back of the room, credit card meltdown as there are only a number of limited special priced packages available today.

    But in asnwer to Vet's question – I am aware of some people using Aussie Rob's system. They have kept their levels of 'success' to themselves.

    Profile photo of vet80vet80
    Member
    @vet80
    Join Date: 2010
    Post Count: 9

    Hello Andrew and Derek – I really appreciate your replies.

    I have scoured the internet and read just about everything that I can find on Aussie Rob and Lifestyle trader. Its just that many of the comments are from people who have not legitimately tried the system. I can also see how you could get discouraged with this system and not give it a fair go because it is not simple and its not easy to someone who has never traded before. However my partner and I both persisted diligently paper trading every day and following what the apparent rules were – and have not been successful for 1 year now. To give you values we paper traded forex with a starting account of 40,000 and saw this go +/- 4000 –  we dont feel the system works. Also Andrew we did get onto Van Tharp and have most of his books and I have done some of his online courses and currently my partner is involved with Niel Fuller – in which we paid $350 and get unlimited support and advice which is very specific.

    Anyway what I was searching for was real live advice from people that have made money using this system and that are not sales people affiliated with the company. I have yet to find this evidence. I just wish I had requested it when I bought the program. However – no one really wants to say the truth either and actually honestly tell me to just stop using this system and move on and I am unsure why?

    On the positive have I learnt about trading using this system – Yes…however is it worth 14,000????

    If there is anyone out there who can prove me wrong – I would love to hear from you.

    Cheers

    Vet80

    Profile photo of Andrew_AAndrew_A
    Participant
    @andrew_a
    Join Date: 2003
    Post Count: 392

    I will let the sound of silence speak :)

    mattnz
    Participant
    @mattnz
    Join Date: 2007
    Post Count: 574

    I saw Aussie Rob speak and am an experienced FX trader. I was amazed at people rushing to the stage to buy the product, to the point of assuming they must have been "plants" in the audience. I was very unimpressed with his system. I have tried many different avenues to try to ensure trading success and it is very difficult to find anyone that is worth following. I have been trying to find the ideal answer for years.

    I can guarantee you that Aussie Rob will have made far more money pedalling his wares at conferences than he would have made trading. A great trader doesn't show you "buy when the green line is over the red line", they show you their audited tax records of the hundreds of millions they made in the markets, a copy of the book "market wizards" with their name in it and a blueprint of how you can repeat their success.

    I have also read Van Tharp's book, but believe that Market Wizards and New Market Wizards probably are better reads. The one consistent theme of every success story in these books is "risk management".

    I would suggest that if you are going to spend $14k on a course, you would need to have at least 4 times that amount to actually trade the markets with. I am always amazed at people spending half their life savings on a course, leaving them with nothing to actually invest. I have attended a large number of courses, but never spent more than around $600 on any of them and even then, only because they were very specialised in how I am going to ensure my early retirement.

    Profile photo of CrazycodCrazycod
    Participant
    @crazycod
    Join Date: 2009
    Post Count: 2

    Have you tried posting in stock/forex type forums? Try posting on aussie stock forus or forexfactory.com? you might get more luck there

    Profile photo of thecrestthecrest
    Participant
    @thecrest
    Join Date: 2004
    Post Count: 990

    20:20 hindsight is easy to sell.
    There are horseracing betting systems for sale taking credit for past success, easy after the races have run and results are in though.
    I’d like to see a trading system offered for sale with a 100% unconditional money back guarantee.
    cheers
    thecrest

    thecrest | Tony Neale - Statewide Motel Brokers
    http://www.statewidemotelbrokers.com.au
    Email Me | Phone Me

    selling motels in NSW

    Profile photo of icecakeicecake
    Member
    @icecake
    Join Date: 2012
    Post Count: 3

    Not doubt your intelligence, but you're deceived. Moving average cross over system won't make you sucess in trading!
    Charting software can provide moving average chart for free or you can obtain it free online. Do search 'moving average' on google, you will find how simple and easy it is!  can't believe you spent $$$$$$ on such a system! It's not a fair trading, you'd better request them for refund.

    Profile photo of vet80vet80
    Member
    @vet80
    Join Date: 2010
    Post Count: 9

    Thanks for your comments
    @crazy cod – actually yes I thought to post on forex factory – will do and see what I get there

    @ the crest and icecake – The system had a money back guarantee for 3 months only, it just wasnt enought time for me to fully test the system and I believed in what I was doing and didnt see a problem at that time. There was so much to learn during the first 6 months that I immersed myself in the training modules. Its just now that I have paper traded and over the last 3 months that problems with the system have come to the surface. I will try to get my money back…I just need to go about it in the right way.

    And icecake – they have been questioned a number of times (by they I mean the company CEO and various educators) about the the fact that people think it is a simple moving average system and they swear black and blue it is not. But ofcourse they cant tell us how they get the crosses – however yes I can reproduce them using a 2 and 5 day moving average.

    And another thing – this company has been scrutinized by the ASIC (australian securities) and they are offering refund to people who purchased the options package as the ASIC feels they made illegitimate claims saying that 'options are easy'. They have also rebranded and changed their name and offered existing clients access to 'trading pits' – which is apparently where you get to sit in on and see what the company is trading daily. However to access this service you need to sign another disclaimer form which basically states you wont be asking for a refund…all smells very fishy to me…

    Anyway thanks for peoples comments…just wanted to see what was out there, as I mentioned above, there were probably about 40-50 people who I say buy the package at steve's conference so I wanted to see how these people are going. But by the sounds of it no one has been successful (atleast those subscribed here).

    Vet80

    Profile photo of thecrestthecrest
    Participant
    @thecrest
    Join Date: 2004
    Post Count: 990

    Hi Vet80.
    Sounds like a refund opportunity.
    If you’re seeking passive retirement income, you might like to checkout my posts on motel investment ( passive ).
    Motel leaseholds return around 9% to landlords, sometimes 10% if setup right by the landlord offering a new lease.
    Cheers
    thecrest

    thecrest | Tony Neale - Statewide Motel Brokers
    http://www.statewidemotelbrokers.com.au
    Email Me | Phone Me

    selling motels in NSW

    Profile photo of icecakeicecake
    Member
    @icecake
    Join Date: 2012
    Post Count: 3

    Vet80,

    It's not SIMPLE moving average. You should know that moving average is not just SIMPLE moving average, there are 2 most popular types of moving averages. It'll be interesting to see if their CEO being questioned whether it's a moving average.

    Profile photo of thecrestthecrest
    Participant
    @thecrest
    Join Date: 2004
    Post Count: 990

    FWIW – The Aussie Rob sales team did a sales presentation to us at home one afternoon, several weeks after the Darling Harbour Mega-Conference.
    We showed considerable sales resistance, and we were very confused and unable to grasp how this whole program was operating, and had more questions than answers like who ran the information systems behind the scenes, and with all this money to be made, why bother jacking up this high profile sales organisation and be out there selling it to everyone, why not just employ 300 people like a call centre, train them and pay them wages ? Or don’t sell it just play it yourselves with a bigger bankroll ?

    We expressed our suspicions at being quoted past results. We asked how we could assess this program by being provided with future predictions but it was not practical.

    Unable to overcome our doubts, and with no clear reasons to reject the product other than the lack of clear reasons to support purchasing it, we walked away.

    Hope you can get a refund if you request it.

    Cheers
    thecrest

    thecrest | Tony Neale - Statewide Motel Brokers
    http://www.statewidemotelbrokers.com.au
    Email Me | Phone Me

    selling motels in NSW

    Profile photo of Sam SamosaSam Samosa
    Member
    @sam-samosa
    Join Date: 2012
    Post Count: 7

    Hey, according to the ASIC website Lifestyle Trader is in breach of Misleading and Deceptive conduct and all those who have purchased the product should have been sent a letter with offer to refund.

    http://www.asic.gov.au/asic/asic.nsf/byheadline/11-161AD+ASIC+accepts+%E2%80%98Aussie+Rob%E2%80%99+EU?openDocument

    Profile photo of vet80vet80
    Member
    @vet80
    Join Date: 2010
    Post Count: 9

    Thanks everyone for your comments. I am going to seek legal advice this week before I ask for my money back because I get the feeling it wont be that easy. The crest thanks for the advice on passive income, I will look into it. To be honest I have a fair bit of money tied up with Aussie Rob and need to sort this out first, feel a bit burned at the moment. You are very lucky you did not sign up for this and sounds like you knew which questions to ask. I will know after this incident too.

    Ice-cake – you are right. Aussie Rob claims he does not have a moving average system.

    and Samo yes thats true, you can claim your money back for options (about 3 grand), however I purchased the entire package which includes commodities, forex and ETF's…a total of 14,000.

    Vet80

    Profile photo of icecakeicecake
    Member
    @icecake
    Join Date: 2012
    Post Count: 3

    Hi Vet80,

    If Aussie Rob ever claimed his system is not moving average and you have evidence to prove his claim, then I'm more than happy to prove that their system IS just moving average. You will have strong possibility to get your money back, because you're deceived, your case is more serious than their Misleading and Deceptive on options product.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173
    vet80 wrote:
    Thanks everyone for your comments. I am going to seek legal advice this week before I ask for my money back because I get the feeling it wont be that easy. The crest thanks for the advice on passive income, I will look into it. To be honest I have a fair bit of money tied up with Aussie Rob and need to sort this out first, feel a bit burned at the moment. You are very lucky you did not sign up for this and sounds like you knew which questions to ask. I will know after this incident too.

    Ice-cake – you are right. Aussie Rob claims he does not have a moving average system.

    and Samo yes thats true, you can claim your money back for options (about 3 grand), however I purchased the entire package which includes commodities, forex and ETF's…a total of 14,000.

    Vet80

    Vet

    I am a solicitor, and have read the ASIC announcement and Enforceable Undertaking. if you want to 'chat' about this please send me a PM.

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of thecrestthecrest
    Participant
    @thecrest
    Join Date: 2004
    Post Count: 990

    ” . . . . Enforceable Undertaking . . . .” OMG sounds like an embalmer with a court order. Groan, sorry Terry & everyone, it just got to me, that one.
    cheers
    thecrest

    thecrest | Tony Neale - Statewide Motel Brokers
    http://www.statewidemotelbrokers.com.au
    Email Me | Phone Me

    selling motels in NSW

    Profile photo of Andrew_AAndrew_A
    Participant
    @andrew_a
    Join Date: 2003
    Post Count: 392

    I hope you are able to post your experiences recovering your money Vet80, good luck with the refund.

    Profile photo of MaxoidMaxoid
    Participant
    @maxoid
    Join Date: 2009
    Post Count: 1

    Vet80

    We signed up for the package at the same conference. We've never looked at the forex component, however we have used the commodities part of the LT software. I'd be happy to talk with you about our experience…so pm me and I'll give you my email and other contact info..

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