I don't know who Jea Yu is, I have not read many books last few years on trading. I bet Yu learned about signals he trades from someone else as well. I don't read financial newspapers or listen to CNBC at all, we are all creatures of habits. I learned about Bollinger bands from a course I took from guy out of Iowa in 1994 and I flew him to Florida the next year for advanced course. I will be first admit, most my entries were designed by others I am sure, not really much any more that is "new", the differences I do is showing when not to take trades, my version of how to look at volume, and to dissect swings in Price Action a bit and using Time Stops to then change targets. Although I have not read in any books about failed BB trades at extremes, some will call secondary tops/bottoms, just easier way to spot. Retracement back to 21 ma was made in the 70s, forgot who. Only books I ever reread are John Hills books from late 1970s. Stuff I have designed-I never write about... I often think people become vendors cause of time their life to educate and not care to do for free. You can produce a good product and people will still muck it up. And then there are those who make a very hard read book, and offer chat room for $300 month to understand the course better. Most people lose cause they don't put in the time and back test nor do they study enough, they think more is better and over trade.
Agree! Even if u wanna open an account, some prop firms also require your trading record. Personally, is this kind of trading course helpful?
Well, its been a few months since I last posted. I did complete everything and did trade in this rather tight market. I did very well with their methods and made back everything I had spent on the course and more Until the August flash crash and then made a rookie mistake and feel away from my trading plan.... and then I kept 'trying'. Very foolish *and* my mistake. Not Alpha 7's and they had coached me against doing what I did. So there you have it. Their methods and coaching via the live chat room during trading hours were very helpful. On many occasions they told me not to perform a trade I was looking at and was then glad I didn't. Eventually though, after Q3 '15, I did not want to risk more capital in my ThinkOrSwim acct (it wasn't prop or anything, I was trading my own cash) and decided to take time off from trading. Once I see a more fluid market, I'll get back in. The reversions I keep witnessing are violent in Q4 '15 compared to Q1 and Q2 of this 2015 and Q4 of 2014. I'm sure people will flame this to all get up. If that's what you want to do, go for it. I have nothing to gain or lose by this post. I've noticed that some people just like to do that for whatever reason they have. While many will say I 'overpaid' for the Alpha 7 Level 1&2 course, I really wanted the coaching and chat room support for my trading more than anything else. It was as I expected and very helpful as previously stated. And it did work out profitably. Take care and wishing everyone a profitable year and a great start to 2016.