Recently I got a hold of more than a dozen stock market courses (for free) and I must say... they weren't to good at all... I back test all the systems and I didn't like the results.. But I did learn some good money management and exit strategies.. Some of these courses cost over 2 grand.. The moral of the post? Do major research before you buy any course...
They're probably some good courses that teach you the basics, such as the ones provided by technical analyst magazine. But you're right, almost no one would give up a good trading system for a few thousand dollars. DeMark indicators now run $500 a month. Read a few good book and learn it yourself.
would you mind posting a table with strategy backtesting results? Suggested format: 1) Guru name 2) Web-site 3) Strategy name as advertised 4) Strategy name as commonly known (some think they add value by giving fancy names to moving average crossover) 5) Instrument(s) 6) Testing period 7) Performance compared to a banking account 8) Performance compared to S&P 500 9) % of winning trades 10) Profit Factor 11) Sharpe Ratio 12) MAR Ratio 13) Longets time from the start of a drawdown period to full recovery 14) Book/article reference
Nonsense. He got ahold of some pirated courses, skimmed through them looked at 2-3 setups on charts, and made a determination. I doubt most of them are profitable in the long-run, but also doubt there was any real rigor in the analysis.
Just for the record, "backtest" (as one word) is a proper word. The fact that most spellcheckers don't recognise it has nothing to do with its being accepted by professionals in the field.
I tend to believe that these courses he looked at were not worth the money. If you offered me $2000 to mentor you, I'd try not to embarrass you, but I would start laughing. Think about it. Would you sell your knowledge of the market you trade for $2000?? I don't think so.
I don't know if I should post the names of the gurus because it might hurt their business... Maybe I could post their first names and you figure out the rest? But yea be careful out there.. I do agree with WS_MJH... They are good at teaching you the basics...
I think you'd be doing everyone a service posting in the format suggested earlier in the thread. I'd also be curious to know what language you programmed the strategies in and maybe post the code so we can spot technical errors in interpretation. Don't be worried about destroying other guru business. I'm sure there were some that were profitable, just not <i>that profitable.</i> Please, we are only interested in truths, and I encourage anybody that can code to post for even more transparency. I wouldn't even think twice about whether identifying these strategies and who they were written by would be bad. Have at it. Let's see them. I'm very interested.