I went ahead and cut all of the myths and misconceptions out of your lengthy post. The snippets above pretty much contain everything needed to know. You also need to point out the fact that public message boards are places where struggling, unsuccessful traders gather to share misinformation amongst one another. Now use your noggin and ask yourself this: why would ANY successful trader sit inside some public message board behind an anonymous alias and post winning strategies to other random strangers for free? A desire to "help others" ain't plausible, because that same excuse is scoffed at when it comes to other educators. If someone can trade profitably, why aren't they getting paid to show others how that most difficult feat is accomplished OR why aren't they sitting on a beach somewhere with the proverbial hookers & blow fantasy life? If you were a profitable, successful trader... could YOU see yourself sitting at home, posting valued educational info inside a public message board where most of the other people delight in spitting on you daily? Or would you in turn charge money for that exchange of information to weed out the idiots and freaks as one viable screening tool? Taking fifty free trials and trying to blend that into something of a defined edge is directly akin to taking fifty random spices out of your kitchen cabinet, adding them all to a pot of chicken and expecting palatable soup to be the result. Good luck with that
What myths? And learning is not a good thing? You sound like you've been around the track a few times and have become very cynical. In any profession, it's important to know the positives and the negatives. You need to know how others practice their craft - good or bad. You obviously have no patience for research. But if you think you can become a good trader in a vacuum, I think you're sadly mistaken.
Jerry, austinp is a known vendor and self-proclaimed expert trader here on ET. He's charged $2495 for online seminars in the past and there's currently two programs on his website for $497 and $1997 each. I see a big problem here belittling you like that. Just what are HIS motivations for hanging around public trading forums? Shouldn't he, by his own description, BE that guy on the beach, making a 7 figure income solely off the sweat of his own trading brow and having nothing to do with the likes of ET forums..."where struggling, unsuccessful traders gather to share misinformation amongst one another"??? austinp likes flexing his ego and trolling for customers. It's all passive selling. You won't see anything overt on the boards about it. It's all going to happen in PM's. Some trader comes along, desperate for an edge after losing for awhile and gets drawn in by "the austinp posts of trading wisdom"...and there you go. Jerry, it's not you. You're fine. Get all the freebie trials you want and I hope they give you enough good ideas to help you find your own trading style which has a positive edge. [Sorry for sounding so negative, but this belittling of other traders BY KNOWN VENDORS needs to stop. austinp, you should be paying ET bucks to even post and your moniker clearly labeled as a vendor. It takes a lot of nerve on your part to play both sides of the fence here. I think you would have a very difficult time disproving that you never engaged in a PM conversation which lead to you making $$$ from another trader.]
Of course the vendors want money. This is their job. First say you will quit teaching and keep all your master insights; however, for this limited time I will teach you how to make money in any condition. Prices of my courses will rise tomorrow, so act today!!! Then, after they get burned out from all the lying, they talk about enjoying life and quitting it all. Then they sell more classes. just get about 5 people a year at 2500, and that should help with basic bills and more. Try to get some loyal chat room people, where you say "choppy" all day, or "if you did this....you make this." repeat. And everyday they fear the same thing... someone might demand audited results for years. that will be one lost customer. how dare they ask!!!!
"Never tell people how to do things. Tell them what to do, and they will surprise you with their ingenuity." George S. Patton
to have some fun, as your prospective gurus who ask for whatever amount to train you how to be a trader, TO SHOW YOU HOW TO TRADE WHATEVER THE GURUS THINK THEY ARE GOOD AT, ON LIVE SIGNAL FOR ONLY FIVE TRADING DAYS.... i could almost guarantee that less than 1% of the current trading school operators would be willing to go on live to earn their fees.... so use what is suggested here, it is much more effective than asking for audited performance records for current and past years.... there is a trading coach whom i am acquainted with, who has workable trading setups quite similar to mine but he just won't for whatever reasons go on live to demonstrate his trading ability, yet there are eager beaver traders who pay him around 5,000 usd to learn how to trade.... figure that out.... so ask your perspective trading coach to show you how to trade live on live signal and live screen focusing on any product of his/her choosing, for a week.... if he/she is transparent and able to trade for profit, there shouldn't be any problem. wishing everyone the best in trading. nakachalet.
I only went to two in my life,, One was Don Fishbacks on credit spreads,, I t was $2000.00,, the reason I went is because I talked to a guy in a neigboring town who went and was making a ton of money at it,, That was during the days of the big bull market until year 2000. Wel I started out well with his service and recommendations,, and then got hit quite a bit,, Market conditions changed, and Don no longer did the strategies,, To this day,, I cannot tell if the people on his website used as testimonials are whores or are actual succeeding members,, THe other was Cook's, cuase I read so muach about him in ACtive Trader magazine,, I blame these piece of shit magazine editors more than anything,, cause they get to go to the seminars for free, in exchange for promoting them.. Well I bit,, There were twelve people in the class which consisted of 12 chairs, no desks, in a circle similar to a game I played as a kid,, lol,, The guy was all bullshit,, I'm not saying he didn;t do what he said,, and I'm not saying he can;t trade for himself, but what he shares is something else. I later talked to a guy who worked for him, and he confirmed his whoremanship, and quit him.. Also we kept in touch with other students and I was fortunate enough NOT to subscribe to his service like some did,,, They lost BIGTIME, On top of that,, he cannot keep his hands off the ladies, including calling hte female students at night, and hitting on them,, even though he is married. Ask Linda Bradford Rashcke.. A number of us demonized him with vendors enough, that now he is taking his show on the road, to Australia,,etc,, cause nobody around here will touch him,, Punch in his name and do a search on the Net,,and you will see a number of comments... I have been at this game since 1997,,, I have lost tons of money doing it,,, I am not sure if I am break even,, or above yet daytrading,,, I have bought softwares like Scalpersoftware.com,, and should have burned the money instead,,, there are a tone of charlatins out there,, One thing I have found is,, that No one will help you,, people are jealous,, and human nature being what it is,, the answer is always F.U... This was the case of scalper as he and I were from the same hometown,, I asked him about some help,, paying to sit with him and learn,, His answer was Buy my software and go F your self.. The same with Moore,, Buy my stuff, and THEN I will have you over,, (or not) I never found out,, think about it,, especially daytrading,, every day is like snowflake,, they are different,, THis game will bring out every flaw in your character.Swing & position trading is way easier cause you have more time to make up your mind. Think about this also in human nature,,, If you had a method you were making tons of money with,,, Would you tell anybody,,, F,, no,, nor likely to teach people it. So I have come to the conclusion that EVERYome in this game is after your money and out to screw you,,, IF you don't develop a methodology yourself,, u are waisting your time,,I have yet to come across someone who is sincere, and really wants to help,, but maybe there are some,, A new subject for this thread,, would be vendors that DO perform,, Whoever is listening to this thread jump in and tell us your best experiences with vendors of anything,, Accentuate some positives.. I can tell you that the guy at Scalpersoftware told me how bad cook was, but I didn't listenn,, but either one of them should talk, cause both their stuff is junk,, As I said, daytrading is the hardest,, I am very very well educated,, but that doesn;t matter.. I am very stubborn but that doesn;t matter.. I have heard a good cliche, In "Every boxer has a plan, until they get hit"... That does matter. NO matter who teaches you,, you will have gimme days and hard ones.. You will always wish at some time that you have a larger or smaller size going in a postion,, and when you first start trading for real,, you will be dinner for wolves,, until you get seasoned. I have been in some trading rooms, for free and laughed at teh guy teaching them,,as I knew he was going to get killed,, and I have been in some trading rooms for free, watching software indicators with the host,, all day,, who didn;t know if he was up or down at teh end of the day,, HIs stuff was about $12k,, and the "Next Generation" in trading stuff,, It is the hardest thing I have ever done, and am still doing it,, I have done a lot of hard things in my life. One thing is for sure,, Yu will never stop learning new things in this game,, Doc..
thx much for sharing. it is very informative and hope your personal experiences would be a forewarn for those who are eager to learn how to trade live and profitably BUT do not have ENOUGH TIME to learn the rope PERSONALLY. thx for sharing again, doc.