Discussion in 'Trading' started by michaelday, Oct 11, 2001.
Is anyone here member of LBR chat room. It is on a pricey side, is it worth the price?
I always check in on the free day at the first of the month just to see whats going on. I dont trade futures so I havent joined but if I ever decide to learn the futures game I think I would join at least for a month or two. I'm always impressed when I'm there. I think I've learned more from a couple of her articles about than most of the books I've read.
Check out her website first: http://www.mrci.com/lbr/
Lots of good stuff, I am sure it gives you an idea of the way she trades and what kind of info she gives in the room, the book should do that too. $300 a month? that's pretty steep. Well anyway I think it's better to develop your own style, personally there are many systems or techniques (Linda is a discretionary trader) I would never even think about using because the stops used are way too large for me or the risk to give back the profits is too high. It depends on your risk tolerance and the size of your account.
Go to one of her seminars. It will set you back 3K but she is the real deal. She might do another one this year. She supposedly taught some bank's currency traders and other professionals how to trade.
uh, let's see,
""Excuse me, what does God need with a Starship?", ... "you still haven't answered the question"" (Captain Kirk, Spock)
uh, excuse me, what does a successful trader need with an attendants $3,000 seminar fee? Well let's multiply it by some 100 respondents, and we come to well over $300,000, not counting first class airfare, hotel suite, hotel conference facilities, fine wine and dining and "comps".
Seems to me, that's an easy trade!
This is my problem. She can easily make money as a fund manager or trading her own account. God knows she's made enough money to have a decent account size. Yes a seminar is easy money but why bother giving secrets away when she's been so succesful? Maybe she's lost her edge. If you read Market Wizards, you'll find out about a guy named Richard Dennis who had 200 mil but lost 50 percent of his fund's money in a year. He quit trading. Also, Victor Niederhoffer, a Soros protoge went bankrupt! Maybe LBR has lost her edge or she's entering semi-retirement.
Even Michael Jordan retired.
Seems to me we tend to find some "bashing" going on when the topic of seminars, books, tapes, or other commercial offerings is brought up on the board.
The motives, character, and competence of all those offering these goods and services is invariably brought into question. Whether it is the newest batch: chua, Woods, raschke, or the old batch, tharp (Van not Robert), DTU Ken, Farley, Landry, et. al.
What are these people? Vampires or businessmen? I say they are businessmen.
Where there is a market, there is a product. if the product sucks and is still bought for $3k, who is to blame, the supplier or the consumer? What was it that P.T. Barnum used to say?
How many of you who "bash" these folks wouldn't like to bring in $300k in a weekend? I know i would! What is the difference between offering a $3k seminar and a $60k car? I mean come on! who needs a $60k car?
Maybe at the root of some of the "bashing" is jealousy? So, get off your ass, put together the documentation of your successful trading system, get some professional marketing, promotion, and advertising gloss, and sell it!
Believe me; there are a few folks on this board that are doing just that! And to that i say, more power to them!
Now, we would all like to see that our own standards of "ethical business practices" were upheld, but face it, business is not founded on ethics! It is currently based on far different principles.
And lest i get into my rant on the overbearing institutional powers of corporations i better quit now.
or did Theddy R. say, it differently, that the business of government was business.
this is a discussion panel for traders, by traders, and to other traders....
grip or not, appreciation, scepticism or not, jealousy or not does not leave us with the only option of either shutting up, or doing it ourselves. I choose to keep what I've learned to myself, until I achieve success, you know, the kind that drive people like Robert Rubin, to even greater heights, or the kind that drives people who've already made it, to keep going...
one thing is that Pristine, Linda Rashke, and others are in it for themselves, and not for the sake of knowledge dissemination....
yes, you will learn some significant grains of truth and trading knowledge, however, due to the dynamic nature of the markets and the process whereby any advantage is eventually overcome, it really doesn't matter what method you use. What matters is that these seminars are so over priced and worthless at those prices. I mean let's face it, these aren't degreed individuals with either college certification or certification for these classes towards continuing education credits. They also may not hold the degrees that they claim. Meet any real "Doctors" lately, and if so, why leave private practice?
$60,000 cars are becoming more common place than ever before, it used to be the sacred ground of the wealthy with butlers, drivers and such, but not anymore.
$3,000 seminars are rediculous unless paid for from profits gained through trading "before" incurring the expense, else wise you run the risk on taxes of having net losses for the fiscal year, further compounded by training expenses and further damaging your trading capital.... should there be any remaining...
perhaps what we're gripping about is the unchecked proliferation of these classes at such unreasonable prices, and they DO NOT offer guarantees of any form of success whatsoever
also, shutting up is the most illogical thing to do (I resisted calling it stupid), because sharing "ratings" on these individuals and these classes is exactly what they collectively do not want to happen.
I met Linda, and her family at an AIQ seminar, where she along with Chartpattern.com's legendary Florida trader taught one of the sessions. Their summit cost somewhere's around $800 for the weekend. We had some of the best seminar conductors each taking one session, and there were hundreds of attendees.
perhaps this is a more reasonable environment to be exposed to their teachings...
What's it like to meet a market wizard?
impressive, real, believable and interested in exposing the methods and tale-tale signs of big moves. However, you'll need a tremendous support network (analytical software, 2nd'ry and 3x'ry lines and computers for research, possibly additional staff) just to keep up with the next level of trading that she's on.
the signature of one of the frequent commentators says something like: "don't confuse brains with the bull market" is one of the most intelligent sayings I've seen to date.
at Linda's level, she's a big boy, and we're small, smaller and smallest in comparison, so expect that the view from her level far exceeds ones that we can achieve...
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