Considering Mel Reiman's program

Discussion in 'Professional Trading' started by vk60546, Sep 15, 2011.

  1. vk60546


    Precision Trading System.

    Please tell me why I should not subscribe to it. I'll tell you my reasons for considering it.

    1) It will provide a method for making money trading enabling accessibility to the instructor.

    The drawback, of course, is that the trading record of the instructor is not available. Mel Reiman passed away and the new instructor will not be provided their performance statement.

    On the flip side, however, I don't know if any instructors will provide such a statement of their performance.

    2) PTC program was recommended by an acquaintance who is no longer reachable by me. But I know that the person took the course and had good reviews afterwards.

    3) It will be a step forwarded rather than being stuck where I am.

    I'm too scared to start trading and I need something or someone to follow. I figure noone will hold my hand for free and purchasing a program is a step in the right direction.

    If you have other suggestions, I'll appreciate them.

    I've tried Alexander Elder books, the problem, was that the beginning talks about the problem of get rich quick thinking in stocks, the psychology of trading and then he gets to charts and I'm instantly lost in the maze of explanations.

    Murphy's Technical Analysis book is also too complicated for me even though it comes highly recommended. I can sort of understand what the author is saying, but I also realize that noone can predict the market.

    Thanks to all in advance.
  2. No proof that it works?

    And you are wondering if it will work for you?

    Just answer this -- why would they sell it if it did work? And why won't they show you ahead of time that it makes money?

    Here's your options if you had a system that worked:

    1) Trade it, make money, start a fund, live the good life. You could pull serious $ out of a fund that selling it to retail guys will NEVER touch.

    2) Sell it, deal with every asshole out there, deal with unhappy retail guys, deal with endless emails, phone calls, etc., deal with credit card chargebacks -- and all for a few thousand bucks per person.

    Now assuming it works, what option makes the most logical sense?

    But if option #1 is not an option due to the fact that your system does not actually work, then option #2 starts to look really attractive.
  3. vk60546


    I see your point, but if the software was a scam that only lost money, why wouldn't there be many complaints about the system?

    And, keep in mind that I need hand holding at this stage. What are my options?
  4. Anthem


    I would suggest you hit the books until you can understand what you are having issues with.

    The fact that you are considering trading while needing education and backbone help is an interesting indicator to me. That may be harsh, but it is exactly what I would tell a friend who approached me with the same scenario.
  5. don't subscribe to this or any other service, period. let me save you a lot of time and stress - his method is purely trading off of lrc (linear regression channel's) which is a default indicator is every charting program. buy when price hits the lower end and sell/short when it gets to the upper and vice versa. if you don't get the basics down from books like murphy's you have no business trading. let me repeat that - you can't skip the basics and just buy a scrip. not trying to be harsh just save you time, money and stress. i'm more than willing to rec resources.
  6. vk60546


    Is there a college course that is available for those who are interested in learning trading?

    Don't worry about being harsh. I appreciate the honesty.
  7. Pekelo


  8. Your options are to study, study and study some more. I know paying someone to give you a shortcut is very tempting (I did it myself early on) but over time I've learned that you don't sell your system if it works. Plain and simple. If you're good, you keep it to yourself and possibly open a fund. If it's sucks, you sell it.

    So you get on this site, other forums, read some books, click around the internet and start studying and watching charts in real-time if you can.

    Sounds like someone has a good idea what the system is that you are considering buying, so take his advice and get some charts up and play w/ the indicators they use. Google search the indicators and you'll have plenty of info to work with.
    At the very least then, you should be able to talk to plenty of happy subscribers then. Ask them for referrals that you can speak to - not anonymous email addresses. If there are tons of happy people out there, then this should be very easy for them to provide.

    If they come back with - well, our subscribers are very private people, or here's a random gmail address try that, etc. etc.... then you get the idea.

    If there were tons of happy people, they would make sure you could talk to them. If they refuse to let you speak to anyone, there's a reason for that and it's not b/c they are making too much $$$.
  9. vk60546


    After thinking about your options some more, I realize that if only options 1 and 2 are available, then there should be no great books on trading. That I have no hope of learning anything unless it's by trial and error on my own.

    Are you sure those are the only two options?
  10. I was referring to selling courses for thousands of dollars a pop, I should have been more clear.

    I do think there is some great stuff in books and all over the internet if you are willing to work at it.
    #10     Sep 16, 2011