Does anyone have any experience with the 5 day one-on-one daytrading course at daytradingcourse.com ? His write up sounds good.
J This sounds like another guy who crapped out trading. Theres tons of guys like this who either will trade other peoples money for a percentage or teach them how to trade for ridiculous sums of money. If you want to take a seminar check out the ones at tradingstocks.com Theres alot better alternatives out there!!! Sterling
the only way to learn to trade i ever heard of that works is: a: teaming up with somebody where you have proof that their method works...(proof here doesn't include a couple of unverifiable tall stories but the real stuff, ie audited p/l statements) or, failing the availability of a b: opening an account with money you can afford to lose and trading from what you *see* in the charts, combined with excellent discipline, risk and money mgmt. you need confidence in an approach, the best way to generate that is when you have tested it with your own money. cheers
I always read from people teaching courses that they want to teach others how to trade because they enjoy it so much. But it makes me wonder if they are any good, they would be making $1000 a day. I think they just feed back to customers what they can read in books. The only real way to learn to trade is to trade. Start by trading small 100-200 shares and work your way up as you get consistent. Plan a strategy, watch your risk/reward ratio and keep a notebook of all your trades. Review and refine your trades. An audited p/l statement for 6 months would be good for demonstrating that a teacher is for real.
Save your money. Open account with IB and start trading 10 share lots. By the time you lose the money, you learn heck-a-va-lot more than you would from some 'course'.
i agree... either you're lucky and end up at some institution that teaches you how to trade and where you may rest assured that they are not after your money for seminars etc because your objectives are identical, ie earning money through trading for your common employer... basically, if you can trade, you trade - period - you don't have a second career in marketing. if you can't, you try and find another way to earn money, eg selling stuff. i mean, it's a huge joke, put *trading* in a search engine and the BS that comes up promising you a certain fortune is just incredible... obviously begging the question why the sales people haven't made their fortune with their systems and quietly retired to a beach sipping pina coladas?? caveat emptor, anybody? cheers
J-Trade I took the course last year and I will let you know exactly how it went. I flew to Cartersville, GA to meet up with Fred, the person conducting the course, after mailing him $4,000 for the cost of seminar. This comes out to $800/day for the 5 day course. First Day - He spent the whole day programming my TradeStation software and loading in his personalized indicators to my computer ( I had shipped my computer to his location for this purpose). This was all he did the first day. Second Day - He made me watch his charts in real time and a couple of 15 year old videotapes of Bill Williams, one of the practitioners of the Elliott Wave of which Fred is a believer in. Third Day - More video, this time 10 year old videos of Paul Tudor Jones, Robert Prechter, and Adrienne Toghraie, a so-called "trading coach". The rest of the day was looking at real time charts. Fourth Day - More chart watching and the "meat" of his course, which is basically very basic Elliot Wave Counting, identifying support & resistance levels, and some chart patterns plagiarized from Linda B. Raschke's book "Street Smarts: High Probability Short Term Trading Strategies". His so-called techniques were handwritten in 4 pages of regular printer paper. Fifth Day - Q & A in the morning. I left at noontime to catch a flight back home. In summary, what he is teaching can actually be obtained by purchasing 3 books - Bill Williams' "Trading Chaos", "Elliott Wave" by Robert Prechter, and "Street Smarts" by Linda Raschke. Buying these 3 books will not cost you more than $250. I was a total newbie, and in my excitement to find a "mentor", I did not ask for his broker's trading statements to prove that he is indeed a profitable trader. He never once explained to me any type of chart patterns or entries & exits using real time charts. He was also very evasive when I asked him which broker he was using (his reply was that he's using different brokers and it is up to me to do my own research). He is an expert at using TradeStation software. You can ask him any question about TradeStation or chart patterns or tech analysis and he will give you very good answers. But ask him about his personal trading he gets very defensive and evasive. Looking back, I would have been better off using the $4K as trading capital and learning how to ACTUALLY trade. I am now a moderately successful trader, after throwing away everything that Fred "taught" me and gave me ( manuals, tapes, etc.). Forget about Daytradingcourse.com - buy Tony Oz's books and get familiar with your basket of stocks and charts. Believe me, this approach is a lot better and cheaper that spending $4k on Fred's junk. Good luck.
J-trade While I agree with most of what has been said here about various seminars and such, I can highly recommend an online site called "DayTrading University" run by Ken Calhoun at http://www.Daytrading-University.com/. It's a self paced course-with a wealth of information. Although Ken is somewhat of a bloviate, the course has a lot of useful stuff that even experienced day traders will find interesting.
Thanks - will check it out & also look up "bloviate" in my dictionary. With regard to effective daytrading courses / mentors, I wonder if there are any really good ones out there ? Whilst I appreciate that a brilliant professor may not be good at practising his theory, I wonder in the field of trading if a really good trader would train anyone other than a protege. Why spend time training someone for a 'mere' $5k ? I'd be interested to hear of anyone who was able to take a course & then directly make some real bucks. Such a course would then be cheap at $5k. My thinking now is that, as with most areas of life, we have to educate ourselves using whatever resources we can find.