Study price action, evaluate ranges and understand risk management and no guru would be required, everybody has losses & winning trades, the key to this game is to have an average winning trade to be a multiple of an average loss (risk 1%, gain 3+%).
People who have been misguided by PA gurus are not trying to sell anything or prove that anything related to day trading works, even if something works for a time, it is very fleeting in this trade. Very few peope can set and adjust entries/exits, calculate risk:reward with enough speed without making errors and properly select setups to day trade as a sole source of income for decades, which is what is implied by many of these gurus. The teachers' trades, their warnings of the inherent hazards in this trade and the subsequent precautions mandatory to successful students are, for understandable but ethically questionable reasons, invisible.
Owners got rid of it many years ago after it was over-run with trolls bashing folks that were making live calls and when they got bored with that...trolls started bashing each other about everything from politics, religion to how people looked on CNBC. Stock Brokers, Futures Brokers, Forex Brokers, Option Brokers put warnings when you sign that agreement to open an account with them. Most traders do not read the agreement they signed nor the warnings. Summary of the warnings..trading is a bitch and you're responsible for your losses. I was recently looking at opening an account with a new charting vendor (CQG)...there's no warnings about trading from them and I'm a little surprise there wasn't some sort'uv disclaimer statement but maybe they send one to me but only after I open an account with them...trading is a bitch and I'm responsible for my losses. Thus, the hazards of trading was not invisible by them when I start to use their service. One of my beef with Mr. Brooks and those that use him (like you) is that there's this implied mentoring occurring when in fact there's none. Its not mentoring because there's nobody sitting side by side with you and walking you through your trades. There's nobody there in your home environment that's able to verified you're trading in the proper environment that's suitable for trading. The teacher doesn't know you and is not able to verified if you're suitable for trading because maybe you have discipline problems, maybe you have a learning disability, maybe you have poor adaptability skills, maybe you're trading markets you shouldn't be trading, maybe you did not test the method prior to use, maybe you're someone that doesn't like to do their due diligence until after the fact and only if something goes wrong and many other things. Not sure if you've had an opportunity to watch any of those TV shows out of Europe involving trading firms or some rich professional trader looking for traders. The traders go through a screening process...the screening is designed to weed out those not suitable for trading. Simply, they know that just because someone has money to trade and can buy a trading course...doesn't imply that person is suitable for trading. Next, after a few individuals out of hundreds have been selected...the head trader or owner proceeds to teach how to trade but if you watch the shows carefully...you realize that trading is really self-taught. That's when the show gets interesting because then there's another weed out process...we then quickly see how the personalities of some folks conflicts with the process of trading. Soon these folks are gone and you're only left with a few that make it to the end even though they are barely profitable...they are the ones that are then offered a job. I want you to think about that or watch some of those shows that's now posted on Youtube. Think about them in comparison to the typical retail trader that opens a trading account...we don't have a weed out process until the end when in reality there should be a weed out process in the beginning. My point is that Mr. Brooks is just teaching you his method. He is not mentoring you because the process of trading itself is self-taught. Seriously, look at these statements... 1) Learn a trade method 2) Learn to trade The above two statements are extremely different and most newbies think they are the same. Brooks implies he does both 1) and 2) when in fact he only does 1). Yet, its your responsibility prior to using his service to know what you actually needed and to know what he actually offers. That's the issue I have with anyone that freely shares their method or does such for a fee in that its not cleared about what is being done and I have an issue with those that don't do their due diligence to understand the difference. Visaria (Op of this thread) is watching and learning 36 hours of a video course. Seriously, he's learning a trade method...he is not learning how to trade because the latter is his responsibility unless Mr. Brooks shows up at Visaria's front door and stays there with him for many weeks or months to teach how to trade. Simply, based upon many things you have mentioned in this thread and your own prior thread about Al Brooks...its obvious to me that you thought you were going to be mentored (taught how to trade) and then you realized he doesn't offer such a service. Thus, you're missing critical aspects about the process of trading with is something the ET member Kp has realized and opening discusses now about his own personal experience in learning freely shared trade methods at forums. Trading is self-taught unless you're in a real mentoring for many weeks or months...real-time, real trading and in person with the mentor sitting next to you from start to finish. Yet, if you just need a trade method and nothing more...you can get that from any forum from anonymous people behind a user name that you call a PA guru (many free trade methods shared here at ET) or you can go online to a website like Mr. Brooks. P.S. I've visited Brooks website. There's no mentoring service being offered. I only see him teaching his trade method. Yet, he does use the words "Learn to Trade" erroneously as if he's teaching you how to trade. Regardless to the latter, its still your responsibility to understand or ask questions prior to purchase to know that if its real mentoring or just him teaching a trade method. Simply, trading is still self-taught after you learn a trade method. P.S.S. I know some folks like NoDoji have stated that their use with others via Skype is helpful. Yet, its still not mentoring but its still a useful trading tool. P.S.S.S. Anybody remember the ET member that was complaining he couldn't get the same fills as another ET member he was learning a trade method from. Then it was later revealed the guy was out using a 56k modem. Seriously, do you think a 56k modem is suitable trading equipment and do you think it was the responsibility of the ET member freely teaching his trade method to know that someone using a 56k modem is using his trade method ???
Thanks Eddiemorra. Actually I've seen this one (from UK I believe) already as well as the two seasons of the US trading series. And also a 2-part recent series on trading from the UK. Besides these well-known series, are there any other ones? Thanks.
You simply cannot teach fundamental analysis in the space they were given, plus TA, risk management, etc, lead to obvious failure rate, just to confirm to the public not to DIY, but to give your money to professionals.