The Product
The Australia-based Safety In The Market (SITM), a financial market education company has set up operations in India and is inviting people to buy its Rs 1.1 lakh education and trading package. For those who pay up now, the two days training is on April 30 and May 1, 2005.
Though the focus is on the software package and the training sessions, the company is very clear that without education, knowledge and discipline, only the brokers make money and not the retail investor. The users can trade on the NSE and BSE and trade in individual shares, indices, futures and options and commodities.
Interview with Aaron Lynch, General Manager of Safety in the Markets
If the system is so good, why don’t the mutual funds buy it and give better returns than they do today?
It has been seen that the individuals have more flexibility in executing trades as compared to a fund. Mutual funds have a natural bias towards the index and most funds do not trade short. They are fairly set in their ways and therefore do not use this system.
We’ve had various scams in India. How do we know that your company will actually be there in April doing the trainings and that the back up support will continue to come?
A quick search on the internet will confirm that we actually exist. We’ve been there for 16 years and are present in Australia, New Zealand, US and Singapore. Our traders are across 34 countries. We have registered the company in India and are willing to comply with whatever regulation there is in the country.
“It’s Good”, Naresh Sachdev, user
A certificant from Brisbane in 1996, Sachdev is a user of the package. He confirms that the system works 100 per cent. “But you must trade and follow the rules and take out profits regularly,” he cautions.
“It’s Bad”, Ashish Dhume, Director of Australian based Equi-protect Investments, Europe
“This is a black box system giving buy and sell triggers. It does not work and is very expensive.” Why is that? “It is humanly impossible to execute triggers because of slippage and I don’t know anybody who has made money using this”.