My take is, that you are way optimistic about how long and how many people succeed. I agree with those who thank that the amount of traders who mAKE A living FROM THIER TRADING IS PROBABLY < 2-3% ET testimonies of how many people are really successful are likely way overblown. And some people confuse 6 months of "successful" trading with longterm success.
seems like harvey had a great day today. made a few thousand in a few hours. is he for real? where is everyone? below is an email i got from him: ""World stock markets in turmoil. Biggest single day falls since September 11th. And the USA closed for the day. After a day like yesterday, it was inevitable that today was going to produce some very tradable moves on the Nasdaq and NYSE, and it didn't disappoint. Here's a video with my mornings trading: http://www.daytradingfreedom.com/videos I hope you've had a great days trading today! Good trading to you, Harvey""
I (the sucker of the day) hate to admit it but I bought the course, if you can call it that. I can honestly say I didn't learn one thing from his course. It was a total waste of time. I kept reading and reading and there is literally nothing useful there LOL I couldn't believe it. At least two of the ebooks are taken from another website and you can download them for free there. I don't know if Harvey borrowed these or he is the other person or what, but the fact is your paying for free information. I will be writing a full detailed review of his product soon with links to that website. Spend your money if you want, I'm sure the alias "Harvey Walsh" will put your cash to good use, but I'll bet you'll end up like me, feeling the fool for falling for his spill. I was mad at first when I read his ebooks & realized I'd been taken, but I realize the only person I should be mad at is me. In my gut I didn't think his trades were real but he sold me. Hopefully I'll help some other gullible sap save his money and do my good deed for the day. I have the one copy I own that I could give away, but it isn't worth the time to email it to someone and you'd just be waisting your time reading it. It's hard admitting you've been conned even under an alias in a forum at least for me it is. But maybe this will help someone else make a better informed decision. Good luck.
Big barrow.. thats brave and unselfish of you to admit that here for the folks.. Thank you so much for your honesty and candour in this regard.. people like him should be shot.. this game is difficult enough. Personally if its not rated highly as a book on Amazon by the statements made by others.. then Ive leaned NOT to be interested in anything else.. Dont worry.. put it down to a bad trade period and keep learning. The best way to learn imo is simply by books and using the online resources by googling constantly for the snippets you need. If your an AV type of learner then some of the live chat rooms on offer like Oscar or Puretick have some learning potential for newbies if your a technical trader in the Futures for example but regarding stocks?.. do that yourself is my advice to new guys reading this.. Your a winner anyway becuase your searching and your honest about it.. ego free.... you will make it unlike so many others who cant get past the ego thing.... Paul
YOU WILL NOT GET YOUR MONEY BACK. The no questions asked statement on his website is a lie. The whole site is a lie. I asked for a refund and was refused. He wants 20 days of account statements to show I traded his style. He didn't say he would then return the money, I'm sure he will say you didn't trade my method or else you would of made money. Because on his videos he never has a losing trade. I've seen from your posts your searching for the key for this stuff, me too. Be careful. You've been warned about Harvey Walsh.
Hello, I thought I may add my two cents into this discussion and offer a different perspective. Here it goes: I purchased Harvey's course a few months ago. During that time, I was on a break from University so there was no studying and I didn't have a job, so I had some time. However, prior to purchasing the course, I had spent several months watching his videos with a skeptical eye, asking myself why he would sell his secrets when he is doing (as it appears) so well with them. Anyways, as I watched more and more, I found it all the more interesting and decided to purchase his course. I read his course for about 2 months, reading the 2 main books several times to understand the concepts fully (the other books are purely just for interest; not mandatory reading). Please know that before purchasing his course, I was more of an advocate of fundamental analysis rather than technical analysis; the latter I didn't believe to be efficient for a buy and hold strategy. But that was before I was introduced to day trading by Harvey Walsh. Anyways, after reading his course, I decided to try it out. I wanted to focus on mastering the strategies presented, so I purchased a 1-year subscription of eSignal, the same software used in Harvey's videos. I wanted to focus on having everything constant but just having to learn the strategies, instead of having to waste time learning another software that would distract me from my main goal. eSignal has an awesome paper trading feature built in it which almost resembles the actual trading behaviour if using real money. Anyways, I have spent almost a month paper trading his strategies (out of the bunch of strategies presented in his course, I have chosen the ones that make the most logical sense to me and the ones that provide me with consistent profits) and I honestly have to say that I am impressed. Harvey emphasizes simplicity; he doesn't (neither do I) see the need to have multiple monitors, or the need to have a hundreds of studies in a chart, or to use complicated mathematical formula's to predict price movement. Price behaviour is controlled mostly by human psychology and human psychology is not governed by something as logical and scientific as mathematics. Mathematics and other complicated technical studies are way too scientific to be able to model accurately (let alone predict) the price action of a stock. I am studying Financial Economics at one of the top universities in the world and we use very complicated mathematics in our courses (dynamic optimization, control theory, differential equations, chaos, game theory etc...), so when I see an economic model trying to replicate human behaviour, I am forced to validate the assumptions behind the model. However, in trading, many of the technical studies are based on rigourous quantitative analytics that just don't apply to price behaviour (in the real world, not academically). In that sense, Harvey strongly emphasizes simplicity. He uses just one or two on-chart indicators (to see patterns and potential exits), about 3 off-chart indicators (to judge entry), and performs pre-market homework by finding stocks that may show good momentum. I will not go into detail about this whole process and how it is done as I believe it would be unfair to Harvey, and for those who want to learn should pay. Now obviously, actions speak louder than words. So what are my results? I restrict myself to trading only the first 2.5 hours of the market (as I am a full-time student). But this lets me keep in control and disciplined. I am not going to say that I haven't lost money in any trade - that would be a lie. But, what I can say honestly is that by following the strategies proposed in Harvey's course, I have been able to consistently make more profitable trades than non-profitable trades. If you want numbers, then on average, my daily take, after commisions, is about $500 in the 2.5 hours in the market. And this is only with 4 months of studying the course and 1.5-2 months of paper trading. Harvey emphasizes, also, that people should not give up too easily. When I started paper trading, for about the first couple of weeks, every morning I would wake up to find myself losing more money than gaining. I could easily say to myself that the course is at fault and day trading just cannot be that simple. But, I stuck through it, I had already invested a lot of time and money in it. So then, I re-read the course books in an entire weekend, made my own notes out of them, and got back into it. I realized then that the problem was at my end; there was no problem with the course. The problem was that I wasn't executing the trades correctly; my mind frame was not set correctly as Harvey described it should be. I took the steps necessary to correct this problem and got back in the game. Now, with some practice, I can say that I have consistently been able to make good money everyday and I can only thank Harvey for that. For those people who are looking for a "get rich quick" scheme, this is not your thing. I had to give up a lot of friends + family time, a lot of money, and a lot of sleep just to be able to develop the correct mind frame of a day trader. Now, with the correct mind frame, I am trading to focus on mastering the strategies presented. With a combination of a correct mind frame, devotion to sticking with something, and investing a lot of your precious time, it is possible. Amit D
Hey 1986 how's it going ? If you spent 2 months studying his ebooks it's going to take you 10 to 15 years to get a 4 year degree. Reading everything took about 30 minutes and I read slow. The ebooks are written on a junior high reading level at most and the concepts are as basic as you can get. But like you his course has changed my trading for the better. After being scammed by Harvey I stopped looking for the secret, the guru who has the answer but always falls short. Getting conned by Harvey was the best thing that could of happened for my trading. Excerpt from the Summary of book 1: Reading charts and recognizing patterns takes practice. The more charts you look at, the easier it will be to see what is going on. .... *more generic crap*... Sometimes very strong patterns will form but then fail for no apparent reason. Your analysis must cater for all outcomes and give you sensible places to exit a trade in such situations. Review of book 2: Quite a few charts showing 30 minute break out with a 10ema for a stop. And out of 25 pages or so of charts there was one losing trade with an initial stop of $ 0.07 was hit on the 30 minute breakout this was on a $31 stock. We all know a $0.07 stop hardly ever gets hit on a breakout, right. There you have it the secret to Mr. Walsh's method, but like I wrote before everything in the book you've already seen in his free youtube videos. The videos which by the way will not allow any negative postings, so all you read are filtered to help him sell. Because my money is that he makes his money selling and not trading.