Explain the whole "clusterfuck of lawsuits" bit. While I don't condone undue bashing of vendors (I stress the 'undue' part,) I can't see how anything he's doing could land him in court. Specifically: Section 230 of the Communications Decency Act of 1996 protecting most online sites from liability over content their users post... at least in the US. Am I missing something?
I have a specific method that generates consistent profit over time. It doesn't generate 100% winning trades - no system does - but it generates significant profits every week if all regular session setups are traded. This method is based on an old classic concept found on many web sites and in many trading books. Only one of the more than a dozen traders I explained it to was able to bring themselves to trade it. She traded this method (and not even consistently), and was profitable with it. So, a dozen people learned my method and only one was able to profit with it because only one could trust it enough to actually trade it. If I presented my method in a webinar, or if I called it the "The Secret To Consistent Day Trading Profits" and sold it for $99, or if I ran a subscription-based trading room where I taught this method, and only 5% or so of people could even bring themselves to trade the method, but those very few that did made consistent profits with it, what does that say for you?
There is a gazillion ways to extract consistently from the markets, but there is only one right mindset.
Almost no webinars are accessible without ELITE membership...i.e. waste of time to join unless you are willing to fork over the $ for the elite membership.
the free to watch webinars count for more than 2/3 of the webinars in my estimation. click on "load more" again and again. Vendors in these Big Mike Trading publicly shared webinars giving free tips. http://www.youtube.com/user/BigMikeTrading/videos
You don't have to be a profitable trader in order to teach others how to trade, most professional sports teams coaches have not played in the big leagues, just look around NFL or Premier League. Trading is about execution thus having knowledge does not make you profitable, same in sports...
I joined a year or 18 months ago because a friend asked me to take a look at the posts by Perry. I became fascinated by his methodolgy and spent a fair amount of time playing with it. That said it is light years away from my thinking so I never really "made it mine" and if you never make it yours you can only lose. I put it aside and never traded it live. I paid $50 to join and in no way, shape or form do I feel it is a scam. It's certainly not overpriced (even at $100) and it is what you make it. I never spent time meeting people or really seeing what's there but so what. I'm a speculator and I'm frequently willing to speculate $50 or $100 to take a look. I'm well capitalized from a series of successful business both public and private and trade a very small fraction of my net worth so the pennies that Mike charges are not missed. If you are running tight don't spend on anything (not even lunch) until you are working a positive expectation that is paying out. Forums are generally entertainment and are for those with a budget for that. The only real value beyond entertainment is the few real people you meet ... that can be gold if you are fortunate.
You don't have to and that was my point. I said if websites would require minimum 6 months verified trading records it would raise the standards on trading websites. I don't see that happening anytime soon, I see sites like bmt as a crap shoot for most.