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    Forums ›› Tools of the Trade ›› Educational Resources ›› Best book on trading I’ve ever read: Lance Beggs YTC Price Action Trader  


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failed_trad3r
 

Registered: Oct 2009
Posts: 1615

 

06-29-12 01:53 PM


Quote from usrx201:

I tried his stuff. His setups are still vague and don't have a real edge based on the material he gives you. A few people on BMT have journals doing YTC PAT and another guy was trying YTC scalper. I seen one guy spending a year on YTC PAT and he's still struggling convinced he'll get better with "practice". YTC scalper is horrible in part in that gets one into the bad habit of doubling down and it takes time to unlearn that habit.

His main conceit is "trust the order flow". bull. If anyone can predict the "order flow" it wouldn't be a vendor or retail traders. Too many times the setups can go the other way so it's still a coin toss. There is advice on drawing s/r lines but again it's all "vague" and "discretionary".

His blog is full of wordiness commenting on the latest example as usual after the fact. There are lots of words on making a trade journal. But we've seen this before in "Doc" Barry Burn's , "Foundation" courses. When is a trade edu-vendor going to sell a real edge? never, at least not for a mere $297.

Sometimes I think these vendors were big losers or at best currently trading still like a gambling crap shoot and using their sales to bolster or negate their losses.

Better off going back to Al Brooks' books and go through each and every example like it was a math class you'd have to pass to graduate to learn price action. At least you can see Al's obsessiveness in "scientifically" analyzing the market like a professor and rarely waxes philosophical about trading pop-psychology in his material. (well, if you already read the books, then try some of the live webinars; only $5 a day if you go by days to the end of the month; and then maybe add an oscillator or MA to help with Brook's entries and signal bars; Brooks does have entries covered in his books)



tnx you confirmed my suspicions. I thought it was a negative $ strategy he teaches.

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usrx201
 

Registered: Sep 2011
Posts: 65

 

07-02-12 07:28 AM

Your welcome. Glad I didn't spend more than a month on his material. I tried to convince the guy who has been trying the YTC setups for a year to ditch it, and not really progressing but he's convinced with enough "practice" he'll "get there" like Beggs.

Another point is, even if a trade education vendor is himself profitable how would one know if the system they are selling isn't a worthless made up system and bag of goods. After you've seen a vendor increasingly keep affiliating themselves with other methods and vendors, who knows if it's not really a wordy pile of regurgitated and plagiarized dung they are selling in their "manual".

I followed an instructor's series of webinars at a paid site for a year. He claimed he could bag 40 to 100 ticks a day on the 6E. But every student I corresponded with and myself found it too hard to reach that level even doing exactly what he kept teaching in the webinars. Now I'm convinced he was teaching a worthless system he had made up. He had admitted what the webinar showed (an MT4 generic screen) wasn't even his trading platform. You pay dues, doesn't mean they are going to give you the honest goods even if they really have them, in this totally unregulated scam trade-ucation market.

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oilfxpro
 

Registered: Oct 2007
Posts: 1600

 

07-02-12 07:53 AM


Quote from TheBlackHand:

It's baloney.

So you're looking for a turnkey solution to produce profits. You're looking for a simple set of A-B-C instructions to follow to churn your way to easy street.

And now you've found them for just $197 or whatever.

Good luck with it.

I'd say if you had spent the last 2.5 years studying the market for your self and making your own conclusions, you'd probably be well on your way by now.

Instead, you've wasted 2.5 years of your life looking for a short cut that doesnt exist. Congratulations. You'll never get those 2.5 years back.

How are you going to spend the next 2.5 years?

Good luck +



+1

The vendors are richer and have won , a sucker is born every minute.

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