here's a follow up to the original post: how do you learn to trade in practice, not theory? i've read every options book out there, and i know what straddles, combo, spreads, reversals, etc....are. but when do you use them? when is one better than the other? also, how do you have so many options positions in 1 stock? either vol is cheap or rich? how does an index options market-maker keep himself trading all day? don't his positions offset each other and net him to a negligable pnl? so much info to take in about all this stuff...
Has anyone had personal experience with the training program offered by Concorde Forex Group? They offer a training workshop followed by mentoring as you need it. Their system uses proprietary software and specific rules which offer the possibility of running a string of 50+ successful trades as long as you stick strictly to their short list of 9 most successful trade setups. I'll appreciate hearing from anyone who's taken the course. Thanks.
================ Costly experience helps; 3 top trader books by Jack Schwager helps much, continually reread those & its more position than day trade .
Ditto comments by Traderjmb and murray t turtle. What is so interesting about being a trader is that the quest for profitable trades is never ending. You have to enjoy the search, and the thrill of taking risks to be good at this job. In the entire book "Pit Bull" by Martin Schwartz, these two paragraphs are the best: "When I was in the first grade, the teacher asked each of us what we wanted to be when we grew up. I said, "a detective." This investigative nature has carried through into adulthood. I love searching for clues, synthesizing tons of unrelated data, and arriving at a logical conclusion. While these observations are not entirely scientific, they are things that I've seen repeatedly over the years. I do not usually use these observations independent of my other tools and analysis, but I definitely factor them into my decision-making process when they occur. Technical indicators that show my low-risk entry points for high probability trades are at the core of my methodology. But I am always intensely searching for patterns, setups, recurring themes, no matter how small, to help further swing the odds in my favor on a given trade." Of all the technical books out there, I still like the original the best: "Technical Analysis and Stock Market Profits" by Richard W. Schabacker. Charles
Snake oil salesmen are able to make a living, because there are actually some people out there who hear the phrase "string of 50+ successful trades" and think: "Wow! That's pretty impressive! Do you take credit cards?" Results 1 - 10 of about 5,280 for Concorde Forex Group scam http://www.google.com/search?hl=en&q=Concorde+Forex+Group+scam
Rearden, Thanks for taking the time to provide the search link. I followed all links on the first three search pages (~30 links) and found two reports of settled complaints against CFG. No serious breaches of NFA regulations etc., were listed however. The other 28 links were to blog sites or topic of "Forex scam" or "Concorde". The Richmond Better Business Bureau says that CFG has had complaints but "no more than are typical for this type of business", and these were settled. They are not a BBB member but are reviewed by them. One link went to a chat group with a posting from one person who said he'd taken the course and said yes, they were expensive, but he was impressed with what he'd learned and had seen trading documents showing previous students had acheived 50+ straight winning trades. To count the trades must be for => 5 pts.. So it seems the jury's still out. I have no connection with CFG but am looking for training (prop firm) or courses which are actually worth the time and money. I've spent plenty of time in the markets trading already and am looking to improve my %. Any input from past students of the CFG program out there? Thanks again Rearden.
No problem. Just off the fact that you're making the effort of proper due diligence before giving anyone your money, tells me you're not going to fall for that scam. Offhand, I can only think of one 'guru' respectable enough to be worth some consideration: Linda Bradford Raschke. In the slimy snakepit of trading courses, she is a rare oasis of talent and integrity.