for what it is worth ... I lost money trying to trade mark cooks way in bonds a few yrs ago ( this was not from his paid seminar on the farm but derived from a free short seminar he gave as one of the trade shows ) I still think mr COOK is a really nice guy and probably can make a living trading.
Thank you very much. It's very helpful. Anything strikes you as important in your meeting with Marty Schwartz? Any final words of advice from him? Thanks again.
Marty's a trader. His strengths lie in his unique understanding of both fundamental and technical data coupled with his innate ability to calculate odds on the spot as in poker or gaming. At the time (2000) he traded size. I remember him saying he traded the QQQ and SPY in 10 to 20 thousand share lots. But didn't like futures. Both Marty and Mark are friends because I believe their styles are so similar. They both like counter trend trading a lot. Buying weakness and selling strength. And often times, find themselves in similar underwater positions. Commiserating with each other over the phone about that infamous group of traders called "they" who got the better of them that day. He's great. Larger than life. The Pit bull trader. He's also human.... Marty the trader, experiences the same doubts, greed, and fear emotions as you and I do. The "Pit Bull" trader just deals with them better. Self Talk I got out too early! I got out too late! I should have had more size! I should have had less size! I should have bought more! I should have not bought at all! I got chewed up today. Maybe my indicators need adjustment I made a killing today. I'm a genius. Above all Marty's knows his strengths and weaknesses both as a person and as a trader. And strongly urges every trader to make a "personal inventory" to understand and work on their own individual strengths and weaknesses as well. I know your a big fan of the Pit Bull. You started a thread about him some time ago. I have a 2 hour tape of him in conference. It's rare and one a kind. It can't be purchased. PM me with a mailing address and I'll send it to you. Time to ring the cash register!!! Best Regards, Dave Scott
Tom, just saw your post requesting info on Mark Cookâs seminars. I have attended seminars by Mark Cook (on the farm), Linda Raschke in Vegas, as well as many other âgurusâ in person and on tape. The decision as to whether any teacherâs seminars are worth the time and money depends on what you want to do, and what you want to learn. Your goals would be different if you are a daytrader at home vs a money manager for example. To me, Cook stood out above the others because he not only is a consummate daytrader, but he has an overarching understanding of market environment in the intermediate and long term. He studies the market compulsively, and of course calculates his Cook Cumulative Tick. The diaries that he keeps are very detailed, and to put it mildly, obsessive. Who else do you know who stuck his neck out in early 2000, and went on record in front of hundreds of people in a public forum to say that the Nasdaq was about to tank, and to get out NOW. I donât remember any of these other gurus doing the same. If youâve heard him talk, you probably also know the story of cleaning up by buying call options right before the start of the first Persian Gulf War. I personally want to daytrade the S&P and Bond futures. I feel that what Iâve learned from Raschke is good background information, but is not really enough to do what I need to do. Raschke teaches a lot of interesting concepts like Crabelâs work on volatility expansion-contraction, Taylorâs buy day/sell day/sell short day idea, etc. She is more of a trend trader, and places a lot of emphasis on trying to recognize and catch trend days. Most of her set-ups like Holy Grail, Antis, Short Skirt trades, etc, arenât suited for trendless environments. The problem is that the S&P only trends a small percentage of the time. I think this is the reason that she trades many markets looking for the next trend. This is fine if that is what you want to do. I would rather spend time specializing in 1 or 2 markets, like the S&P and the Bonds. What I like about Cook, is that with his daytrading methods I can go for smaller amounts of money more frequently, and with less risk. Like he says, his average S&P trade gains 2-3 points, but he does over and over again, banging it out day after day. He does live trading at his seminars, and I found this to be very valuable. I also mirrored his trades on my laptop, which was very helpful. Then I do his more intermediate term position trades using the CCT. So you get the best of both worlds actually. FYI, you can rent old lectures and videos of both LBR and Mark Cook (and others) from ino.com and tradersbrain.comâmight help you decide. Feel free to email with questions. dcriese@soml.com
I took Mark Cook's seminar late last year and I highly recommend it. He made money on every bond trade he entered during the two days and took a net loss on his sp trades. This was in December 2004 and he was pretty fed up with the way the sp was trading then (super low volatility). As the volatility comes back into the stock market his stuff really shines, today his methods worked great. He is the real deal and a heck of a nice guy as well. How many market wizards will open their business to you for $3500?
=============== I saved his Active Trader interview ,8/2001; and highly recommend it, some excellant points follow. ''I am an old fashioned tape reader -I dont look at charts during the day at all'' Thats interesting , didnt say if he looks @ charts @ night, but prefer charts day & night myself. ''If new traders can live the first six month to a year , they have hope of succeeding'' Even though that article mentioned S & P and bonds again , would assume until proved other wise; Mark cook still buy farmland & buys/sells index options??? Forgot his website name, so found it thru mark cook, option trader; his latest article there is 1994- A new way to make Hay. Hope this helps; and like the way LBR put one of her favorite moving averages on her website and plus plenty of charts.
Linda has a seminar coming up shortly. Only $2895. I love linda but would I spend $2895 for a seminar? You know how may six packs that is? Seriously you can learn most of what she teaches from the free articles on her site. Shes a great trader and a great speaker. Im sure she would love to take your money, one way or the other.