Tim Morge is a good guy. One of the few stand up guys. I didn't sign up for his paid deal because you have to have alot of money tied to access so many markets. He may be trading forex one day, copper the next, and then also looking at the ES. You can check out his free stuff Monday morning. AP works, but it is subjective in that you can have a regular, modified, Schiff fork etc. He claims that the Kennedy family broker made them millions during the Great Depression using AP. The best thing about AP, he said, is that it often yields a 3-1 R to R.
you can learn a thing or two from PS but here are some tips don't make eye contact, don't write down your real name and finally switch seat to the nearest exit after lunch break, you can quickly make a getaway without them noticing.
jack is right about Tom Sosnoff from TOS. i don't know about those other names. Sosnoff doesn;'t charge for his knowledge and is a very gifted teacher/trader. he is the real thing. surf
The article about hotel seminars was interesting. Here in Florida and especially in Orlando it's hotel seminar mania. The worst of these by far was Online Trading Academy. I attended one of their hotel seminars called a "All Star Event" in Orlando. On the surface they come across as not being a get rich quick deal like so many others. I actually enrolled in their classes a few years ago and was invited to this event as a special for grads only. It was supposed to have special speakers coming from all over the world and the advertising glitz stated that "only Online Trading Academy cold put on an event like this for free." While their was no fee for admission, it didn't take long for the sales pitch to start. A lady named Michele Volmering started it off and started talking (pitching) the OTA XLT Program. This was an extended learning course. Right across from me one of the OTA employees was seated (he was announced along with the others by the mc) Actually in all there were about 7-8 such people all positioned strategically around the room which accomodated about 50 people. As soon as there was a break, they started jumping on each of us, pulling us out of the room outside into the hotel lobby where they strong armed us (about ten of us at this point) One guy was working on three people simultaeously.)Now I figured out why OTA could offer this for free. It was a ploy to get OTA grads to be upsold to other programs and classes. By the way, the girl Michelle was from Orlando. So much for speakers coming from "all over the world." I excused myself to use the restroom and waited untill the All Star show started up again and went back into the room. Now another speaker comes on. We were told that he was from the corporate offices in California and he made a nice presentation. We went into a break and you guessed it, the OTA used car sales people were all over us again, shoving flyers in our faces and asking us which class we wanted to sign up for. One guy would leave us and he would be replaced by someone else. All of these were running around chasing us all around the small hotel ballroom and lobby. It was almost too funny. Sort of like watching an old Keystone Cops or Marx Brothers movie. We were supposed to have lunch and in fact had subs. I wanted to see if anything good would come out of this so stayed a little longer. Another speaker came out, I believe he was from New York. He was a young, good looking guy about 30 and a good speaker. He offered some good content which was unfortunately interspersed with much b.s. and then came the sales pitch again. Followed by another break and once again The Keystone Cops and Marx Brothers of OTA were on the run chasing people, shoving flyers around and pulling to the side trying to get them to sign up for yet another class. They started some kind of game and we were told that there would be some nice prizes. I was going to leave but figured what the heck. They asked some basic questions about stocks and finally several winners were chosen. I understand it was a certificate worth $1,000 but of course only good if you used it towards buying another class. One guy, an Indian guy was all excited and was yelling, "WOW-I never won anything before in my life!" Once he found out the deal, his exuberance dissipated very quickly and he walked out rather disgusted. At this point I felt like I had seen enough so I left too as did about 1/4 of the audience. To quote Will Rogers, "I am not so concerned about the return on my money as I am about the return of my money." The people at OTA definitely have their hands in your pockets. The information they offer, based on the classes that I paid for, Pro Trader and Pro Active were overly basic and not worth the money. The ROI based on the high investment in their classes was clearly not worth it. They make a big deal about retake privledges for life. But in fact, if you read the small print or listen very carefully as they lower their voices when they explain, you will find that retakes are on a "first come, first served basis." And guess who get's put on the list first...you guessed it. The people most qualified for an upsell. If you already bought a lot of classes and/or they find out that they don't have a lot of money to spend, you will placed at the bottom of a waiting list and if you get called at all, it will be only if the class isn't filled up and they need to fill seats. As for the success of the instructors and why they do it, it's fairly obvious that they do it for the money. It is their primary income and possibly their only income. If they were really making that much money trading, why would they be spending all day at seminars, All Star Events and classes? I think it is very obvious where they really make their money and why they really do it. It's not for fun or out of the goodness of their hearts. And I doubt if the majority of this instructors are very successful or even trade at all. Likewise, very few grads from OTA are that successful either, not based on what I heard in talking to them at this ALL STAR SHOW. I should also point out that the Orlando OTA location has had a lot of challenges. Ownership has changed hands at least 4 times in the last 8 months. Employee turnover is high with much downsizing. When I first joined they had 2 managers and 6 counselors. Now they are down to 1 manager and 2 counselors. That probably explains the high pressure tactics, but who wants to go through that?
Another bash job on folks trying to help others. Most of the instructors at all these Educational Facilities are highly successful traders, some of whom make so much in a single month, that they have to teach the rest of the year or risk paying 90% taxes on incremental income. ET is riddled with graduates of these courses, and can verify that they are the real thing and worth every penny and more.