Financial Advisor needing advice for client

Discussion in 'Educational Resources' started by dwitherell, Oct 29, 2006.

  1. Hello!

    This is my first post, and have to say, I'm impressed with this board. I've been reading the threads (doing my due dilligence, if you will), for a few weeks, and saw some really good advice given to new traders! Seems like many of your senior members take the same approach I do when managing my client's money, who I care about: looks like risk management first; rturn second is the theme.that's great!

    My question, and I'm embarrased to ask due to my former wire-house position as a Series 7 Stockbroker, and Series 66 Investment Advisor Rep, and my current status as an Independent Advisor, affiliated with a B/D, and RIA. Let me get to it:
    I have a client who really wants to day-trade S&P E-mini's with a very small portion of money for him; about $20,000. This isn't retirement money. Excess cash... Must be nice!
    He has asked me where to go for the training, and all I can find is a bunch of garbage for $1,000-3,000. I found a course by a guy named Todd Mitchell that looks enticing. Just looking for some advice. Thanks!
     
  2. i think the guys at tradethemarkets.com are pretty good.

    and no, i am not affiliated with them
     
  3. I've heard some good things about coiledmarkets.com. The owner posts on here under his real name, AustinP. ( a real novelty, for sure ).

    His posts to this board are well thought out and usually make sense, which is more than can be said for many others here.

    Good luck~
     
  4. Don't go the 'training' route, go the software route.

    Tell 'him' to open a demo trading account -
    go to the library for trading etc books etc -
    read forums particularly e-mini trading Journals.

    Go to TopGun software for example and watch the
    Forex and Futures movies, they have training for fx
    trading but not for e-mini for some reason even tho
    there's little difference between trading fx v e-mini.

    Visit e-mini broker sites and review the software they
    offer and tell him to take notes and keep a journal
    otherwise he'll never remember all the info he'll collect.

    All software can be trialed for free, Menu/Software
    here on ET and review what's listed as well as using
    Search.
     
  5. nkhoi

    nkhoi Moderator

    :p


    use search button here to get more idea about him, there is better training imho.
     
  6. Ya, e-mini is very similar to stocks.
     
  7. I appreciate the advice. I relayed it to him. The last client I had that wanted to daytrade a % of their cash reserves walked into scott trade to open the account...

    I told him "they'll be calling you soon wanting to talk about your retirement account." Wasn't even a week, he was getting calls.

    Since he lost ALL of the $ he traded with, he's found a new hobby :p