John's not a bad trader, but he is a vendor in this context and so you have to have your head on right.... My advice is to take what you need to improve your performance and leave the rest... As for the indicators, if you are a complete newbie, OK but if you have some experience, I would say try to understand them and perhaps engineer them on your own...
From http://www.cbot.com/cbot/pub/cont_detail/0,3206,929+14719,00.html, who are these 22 year old traders living off starbucks? Where do they get the capital from to trade the eminis? Are they rich kids or backed by firms?
This was my take too that this is geared mainly toward newbies and that they have a big vendor thrust, but I did sign up for the free newsletter or whatever it is. I've been around a long time so I'm not really looking for anyone to tell me how to trade. But I'm open to learning new things from anyone if they have something of value to share. The Tradestation forum info is interesting too. Thanks for sharing that guys.
I saw those reports. Seemed like kind of a mixed bag with varying results. I see the swing trading emphasis too as some of the losses are much larger than any I would take intraday which is mostly the type trading I do, at least trading e-minis.
Agree on most what everyone has said here. Just to add that they are helpful, especially Hubert for scalpers and the like. His daily free videos's are very helpful for those wanting to learn "the ropes". I have never paid them a penny and I get free videos and advice on how to cut comms so it cannot be all bad.
I have listened to John at a couple of Traders Conferences. I would recommend. He was not pushing his stuff at all and was high on content.
Some of this 40 bits of wisdom are redundant but it seems to echo the advice of many here on ET; "cut loses short and let profits run". Hard to argue with. http://www.tradethemarkets.com/index/9/32/1441/2/11574050056608/\ One of those bits is: "Trading should be boring, like factory work. If there is one guarantee in trading, it is that "thrill seekers" get their accounts ground into parking meter money." His advice seems (to me) convincing for the most part. How many on this forum feel they like a "boring factory working"? That they can just keep doing what they do and they will beat the odds.
I am new to posting in this forum and it appears that the above URL's got truncated. If you want to see John's acclaimed 40 bits of wisdom you can find them under trading strategies at: http://www.tradethemarkets.com I suppose that most of the traders here have heard it all before - just curious if even one piece of advice is new to anyone. I did order his book because of the high reviews on Amazon. Even if I learn just one new thing and react different in just one trade perhaps it will be cheap advice.
John Carter and Hubert Senters are the real thing. Not like those scumbags at TradingMarkets.com. When I first found their site, I was skeptical being they were originally on tradingmarkets. I read John Carter's book. Well written, solid information. I also purchased the Chicago 4 day DVD seminar. Very good stuff. Unlike most courses, I would actually recommend this. As for their indicators, no need to purchase them, they are all available for free on the Tradestation.com website in the easylanguage area.