Time.... All that software achieves one extreme objective, "self justification". ALL at your expense... What's not being understood is that under flood conditions, sprinkling Lawn Weed and Feed would not allow you to grow a better lawn. Under these market conditions, waiting for a 1-2-3-count and then pounce is about as smart as playing roulette. time is wasted trying to make their dream come true.... trust in your own instincts...
I tried out the Pristine trading bulletins for about a year but they were mostly of little value and definitely not worth their cost. Can't speak to their seminars or trading room, but based on the bulletins I'd guess they're not worth their cost either. If nothing else, Oliver's a good salesman though.
Breezy, A guy in our office was a member of the Platinum Room ran by Alexander Grace. It was a pure disaster, he got canned and now he's being sued by Pristine.com Oliver actually apologized to the members because Mr. Grace was front-running their own members like some loudmouth "w" we all know. #2, don't bother buying that tape for Daytrading. I'll give a quick synopsis of the tape. 5 min Chart (candlestick) Use 20 and 200 sma Playing the 5min high or low on the open Use the 20ma as support/resistance The 200 ma is the God of support/resistance (I think they chart you an extra $5 for that statement) You can obtain this info from traders here or any free websites that provides basic techinal analysis. It's called the Prisinte method because it's something Oliver took and made it his own.
I've read through the posts herein with interests and kinda think its funny how the posts get more and more negative as people add their opinions. I went to a Pristine 2 day seminar a few weekends ago and yes, I paid a whopping $1,995!! Real money!! Did I get a lot out of the seminar? You betcha! Am I going to do everything that Pristine advocates? Never! Even the seminar speaker indicated that many of Pristine's entries, exits, stop criteria, etc have changed over the past few years due to changing market conditions. What I benefited from the most was not so much the strategy instruction, but the softer stuff - things like psychological issues and how they can impact trading, money & risk management issues, understanding the broader market direction, trend analysis on bigger time frames to better understand trends on a smaller time frame. At the end of the seminar, general impressions I was left with from the instructor were: 1. There are no easy answers or "holy grails". 2. Trading is a difficult endeavor. 3. Plan for a long haul in becoming a good trader. 4. You're going to make mistakes, the important thing is having a process whereby you learn from your mistakes and, over time, repeat them less and less. 5. Many beginning traders bomb out due to a lack of appreciation for risk management - ie money management, trade size management, disciplined stop management, etc. I'm sure with a different instructor, the class might not have been as great - but I endorse entry level Pristine training for new traders. I'm relatively new to trading, but I've seen loads (boatloads) of people not make it in trading because they're looking for easy answers, lack discipline, lack capital, and/or can't think for themselves. Any of 20+ different tips, ideas, nuances, etc that I picked up in the seminar will more than pay for the cost of the seminar over my trading career. At the end of the day, I'll have an approach to the market based on my observations, my personality, my experiences, etc. I'll use info gleaned from the books, seminars, chatrooms, bulletin boards such as EliteTrader.com, and the many other self-educational things I've done and will do to hone, refine, and improve "my approach." Take Pristine for what it is - a help and aid, but not the "end all to be all" that people who want easy answers make it out to be! nuff said.........
@ Swish From your post it seems you did get a charismatic instructor that was able to persuade you to believe you got something for your $2000. While you did probably get some good advice, was it really worth the cost? You state what you got out of the seminar was, 1. There are no easy answers or "holy grails". 2. Trading is a difficult endeavor. 3. Plan for a long haul in becoming a good trader. 4. You're going to make mistakes, the important thing is having a process whereby you learn from your mistakes and, over time, repeat them less and less. 5. Many beginning traders bomb out due to a lack of appreciation for risk management - ie money management, trade size management, disciplined stop management, etc. Look at what you learned... is this truly new knowledge to you? You stated: I'll use info gleaned from the books, seminars, chatrooms, bulletin boards such as EliteTrader.com, and the many other self-educational things I've done and will do to hone, refine, and improve "my approach." If you have been in chatrooms, read bulletin boards, and gleaned things from books, then all five of the above points should have already been learned. I cannot recall a single book I have read that does not have those points plastered somewhere in the pages, usually the beginning of the book. There are many posts in Elitetrader that also cover the same material. The fact that someone you believe to be a credible source physically told you that trading is hard and there is no holy grail is not worth $2000 in my opinion. Well I will not knock you for taking the seminar as it may really help you, everyone learns differently. An example would be people trying to lose weight. Some people can read a book on fitness and diet and with some self-discipline get into shape. Others take a little more motivation or a different learning style in the form of a personal trainer. Then there are those that have to give up several months of their life and check themselves into a fat farm and spend vast amounts of money, believing without spending this money they would not be able to accomplish their objective of becoming healthy. The crux of my argument is a cost benefit analysis shows massive cost for very little benefit. From what you state you learned from the seminar, the majority of the public could learn the same points for much, much less than $2000. There should only be a minority of people that would be incapable of absorbing this basic information in any other capacity than a seminar.
Pristine is a pile of expensive crap. Don't waste your money. Go to www.tradingmarkets.com and for $195 a year you can learn how to day trade or momentum trade. It is a great site for beginners......
..and these vendors are all the same. I can't believe people are paying 2000 bucks to go to a 'seminar' like this. Of course, once you pay that kind of money, you have a vested interest in feeling that you weren't taken. It's human nature. I base my opinions on their nearly worthless book. Vendors are vendors are vendors. It's about taking your money. If they had anything nearly as great as they claim, they'd be out their trading and don't give me all the same old tired excuses about why vendors don't trade. Or that they do trade their ideas, but still like to make the extra money vendoring. No. Vendoring is much easier money and a lot less risky. I once paid 3k for Indigo...one of the great trading vendor scams of all time. But I learned my lesson. gs
Interesting, isn't it? Let's go back to the original question. I can't speak to the "training" or the seminars or the chat room since I've never become involved in any of that. And I'm not sure that any of it is necessary. Whether it's desirable or not is another question. However, I found the book to be excellent. Yes there are references to the Pristine Method and Pristine seminars and training, but so what? All the gurus from Alan Farley to Brandon Frederickson to Teresa Lo to LBR to TradingMarkets to whomever are just as bad as far as hawking their wares. But the book is specific enough with regard to its basic strategies and tactics to provide the beginner with a start, though no one book is going to be enough in and of itself. The book aside, there is a wealth of information at the Prisine site in the Trading Lesson of the Week, Chart of the Week, etc, archives. Many of those articles, all available for free via email, are as clear and specific as one could want. A few weeks, if not months, studying those archives will save any beginner some substantial money. Understand, however, that Pristine is discretionary. Therefore, those who complain about the TA and the "fuzziness" are setting up straw men. You'll learn a great deal about interpreting charts from those articles. But you won't learn anything about trading mechanically. Nor will you learn anything about indicators since Pristine has no use for them; they are rather about price-volume relationships and patterns. Understand also that Pristine is about momentum. Without momentum, their setups won't work. Which is why so many of their setups haven't worked. There hasn't been much momentum. But you have to ask yourself whether you'd rather be in a losing trade or acquire the discipline to avoid the trade altogether. Pristine will not teach you how to trade chop. At best, it will help you learn how to avoid chop. All, except for the book, free. If after you've gone through all that's available for free you decide to undergo their training, that's something else. But this is not a take it or leave it situation. You are able to evaluate their approach yourself, for nothing, rather than rely on opinions alone. As for the Stock Play of the Week, it's ludicrous to expect a lot of winners from these. The point of these emails is to explain the setup. Whether the stock ever provides an entry or not is beside the point. If you want stock picks, you're not going to get them from free emails. --Db
@ DbPhoenix Thankyou, you have made my point. You stated: All, except for the book, free. If after you've gone through all that's available for free you decide to undergo their training, that's something else. But this is not a take it or leave it situation. You are able to evaluate their approach yourself, for nothing, rather than rely on opinions alone. My main point is there is tons of free or relatively cheap information available. I myself bought the Pristine book and did gain some insight. Regardless I did not find the book to be all that worthwhile and found some of their techniques detrimental to any trader. To pay $2000 for a seminar that contains information that any individual can get for free or relatively cheap seems counterproductive.