I never heard about the fines. Well as far as the prop was going, it was not really working out. The person hired to run the prop program was not in tune with the changing market to help teach all the new traders. The two experienced traders in the office were not trading that well. One blew up his account in front of all these new traders and the other one left 3 months after starting. The probably expanded way to fast and did not have enough support for all the new traders. Then there was the 2 cents a share/ 30% payout hurdle to deal with. On top of that we never say Dave Nassar. He was either in his office trading or just gone. The whole thing was a joke. Then they started cutting the traders that were doing the worst. However some had only been there a month or less and moved out of state for the trading opportunity so they were really screwed. After the cuts their were only 10 traders left. A few decided to look around at other firms in the area for a better deal, word got back to Dave and he decided to cut the rest of the traders. So anyway that is the basic Marketwise prop story. I guess you can see why I am a little jaded because this mess was my introduction to trading.
YesMan76 - Yes, I took the 4 day Direct Access Trading class and the 2 day Technical Analysis class. How long have you been trading? For me, it was worth it but at the time I had only been trading 2 months so it answered a lot of question I had about trading in general, RealTick, ECN's, Level II... Was disappointed that they didn't cover trading strategies more in depth but I don't think that was advertised as part of the content. I took the technical analysis class right after the 4 day class, so once again from a newbie perspective at the time, I liked it. The instructor was very strong w/ his TA but as someone said prior, not very personable. He went through and explained the basics about TA and most of the indicators and oscillators. Seemed to rely heavily on MACD and moving averages. Went through some case studies on whether you would buy certain stocks or not. Sorry I'm not more detailed but it's been a while since I took the classes.
Mbg and other interested parties, I read your post and your correct, I was out of the office, so let me apologize for that first off. As far as the TA course, it is difficult to know how much knowledge you had regarding technical trading, but given your stated experience the course seemed to be more of a refresher than new knowledge for you. I understand that. Given the fact that you did not find value in the course, I will promptly see to it that your money is refunded. I realize you did not ask, but I donât want anyone to pay for something they did not feel they gained from. As far as trading with me personally, the invitation stands. If you call me or e-mail me, I will personally schedule the time to sit with you an entire day and discuss my trading method. I wish we had scheduled a specific time when we exchanged e-mails, but we did not, we kept it loose. If we had, this would not have occurred, but nonetheless, you are completely correct that you did e-mail me indicating when you would be in town and I have no excuse except that I didnât schedule a time. That was my mistake and I again apologize. So if you still want to come visit, I will pick up the travel as well (we will arrange it). As far as the review of the course, I meant what I said in my book and I will state it again here. Our courses are designed to help traders focus on a rules based trading approach while also instilling discipline through specific price levels that can be seen through a technical and momentum approach. I have always been clear that trading is difficult and not for everyone. The barometer of success has never been based on the percentage of people who will be successful trading. Success is also not determined by courses or books. It is based on ones personal psychology and approach taken toward the market. Success or failure is not determined by exterior stimuli or resources such as courses. Trading success or failure is a function of the individual and the discipline and passion they apply to it. To expect any course or book to fulfill that individual responsibility is irresponsible on the individuals part. We donât and never have promised success as a function of the school. We state, if the individual possess the attributes of successful behavior, the course will enhance the student and shorten the learning curve. A person entering the market without education is much more destined to failure than one who is educated. If an individual has been trading several years and already has acquired a substantial amount of mechanical knowledge, I believe that persons learning opportunity will be almost completely based on personal psychology. In fact, I would say it is 99% psychology. Therefore, lets not condemn education for those who have not yet acquired the requisite knowledge to either get started or evolve furthur. As far as my trading, I am running a business. In fact, I spend much more time running a business than trading these days, but I still trade almost every morning. I do so because the demands of providing the best services possible are my responsibilities to the customers. MarketWise has extremely qualified traders and instructors who prove it everyday as evidenced by a long list of satisfied students. While I hate to see any dissatisfaction, I know perfection is impossible. Nonetheless, we will keep passionately striving for it, and when we fall short we will do the right thing.
David - I appreciate you response to the posted messages here, and I find it generous of you to offer a refund. I'm sorry things didn't work out when I was in town, as I was truly looking forward to meeting you and possibly gaining some knowledge from you. Unfortunately, things didn't quite work out at that time, but maybe they will in the future. Thanks again for your offer of refund - it shows your concern was not for just the money. Take care. mbg
A valid defense to the accusation of libel is TRUTH So if what you say is true then it cannot by definition be libelous
A valid defense to the accusation of libel is TRUTH So if what you say is true then it cannot by definition be libelous Provided you are prepared to blow half a mill in legal fees to prove it is true. Unfair? Of course, but that's the way it works.
WOW - now I am totally convinced that Nassar is a complete fraud (sorry to state the obvious so bluntly; I am just tickled pink by this). Love how my post was deleted.
OK, I missed the phone call from TN on Thursday afternoon. So I missed David's live trading. Guys, please don't beat me up for asking. Did anyone see him trade? What was his strategy? What did he trade? did he graduadly add to his position? Did he by in in the pre-market? Thanks, Mike
He traded very well as he usually does...see the screenshot attached. But more importantly, I think its time -once again-to get back to discussing trading and forget trying to prove or disprove anyone's degree of character or success as this thread seems to be focused on. I have always tried to avoid getting into these negative bashing oriented threads as I remember being the brunt of one myself. Having said that, I do have some insights into some of the comments made on this thread. The reality is, this small industry is filled with "double talking, two sides to every story BS". If everyone believed what everyone else said about everyone else, then everyone is Satan incarnate and we're all going to hell. While I really don't know Thug_Life personally, I know he used to work for a MW franchise branch whose owners for whatever reason left MW over a disagreement with Dave. I did however know those owners personally. WHat is interesting is that -after splitting from MW-they initially hailed the owner of their new brokerage firm as "the greatest guy ever to work in the industry". THey told that to me personally in 2000. Last I heard they are in a lawsuit with him over -what else-business disagreements. My suggestion to Thug_life is hey man its water under the bridge and remember-despite what you may have heard-things ain't always what they seem to be. Let it die. How I know Dave personally is-as many already know- I used to be an instructor at Marketwise before moving away from Colorado. Is he a strong, opinionated and polished businessman as has been suggested.....hell yes he is would you expect anything less? The guy was one of the original pioneers of the industry, having the vision to form MarketWise when the Nasdaq was at 1,500.....BEFORE its run to 5,000+! The bottom line is that in this industry you can only believe what you see or know to be a fact. The fact is, Dave Nassar trades live capital on the Webex sessions every Thursday. I have been a witness to all but a few and he makes $$ routinely when he does it. I screencapped the one from yesterday and it is attached. Think about it. What happens when you throw down trades randomly with size for the hell of it? We've all done it. You get your ass kicked that's what. So the fact that he makes money consistently -especially while trading the open live in front of others-would tell me something about him if I knew nothing else about him. He's not just throwing down trades and getting lucky....the guy can trade. Does this mean that he or MW can teach everyone else to trade as well? Not necessarily. We all know the variables there. Its a tough job. When I was at MW our living, breathing focus was to try and develop a way to teach concepts that we knew worked, in some way that would take hold in the trading minds and hearts of the trader/student. Myself and the other instructors-Brian, Kevin, Ed, all of whom are still there I believe-did a great job in that capacity as they were all knowledgeable traders with documented success. Look at the archived Wiseguide issues on the MW site and check out Brian SHannons TA work. It is solid substantive material and it was posted without 20/20 hindsight. In that regard we did the best job possible, better than anyone else I believe. But, ultimately it was up to the trader/student and human nature is what it is and that is why the statistics are what they are. Further, I know Dave would be the first to admit that what we taught at MW in 1999 simply does not work as well anymore in this market. But I also know from the Webx sessions that Dave trades much differently now than he did when I was there...thus he himself as a trader has adapted. Consequently, I can only assume that MW has adapted its training material to be relevant to today as well. The fact that Larry MacMillan has chosen to affiliate his name and reputation to MW should says something in and of itself. Finally, regarding some of the comments made in this and other threads, I can confirm neither there accuracy or falseness. But as I already said, I can say that I did know people who personally told me derogatory things about Dave or MW that I later learned to be complete BS. Despite what we hear, its not just about fear and greed in the trading industry. You would be amazed what tremendous stories that emotion called jealousy can breed and we are all probably guilty of that to some degree. Enough of this lets get back to trying to trade this shitty market. Have a great weekend everyone. PS SHould I really have capitalized Satan? Seems blasphemous.