OK!"-P Leave the smart at the door then! Yes, I kept in touch with most of them in class now. I would love to share my experience with them too! Good and Bad... I actually believe 10% of the chance of making good trades comes from KARMA. (You can beat me on this).
I took a "mandatory" course with them way back when it was required in order to trade in the Irvine office they shared with Momentum. This was when having T-1 lines for data actually meant something. I think the weeklong course was $3,000, but there was an introductory course also required in order to squeeze even more money out of people. For the experience the course is way overpriced. But let's be honest. Whatever you paid for tuition you would have lost in the markets anyway. At least now you have a big binder full of stuff and maybe some CDs and a framed "diploma" you can hang on your office wall.
This is only the beginning of your long journey. You have completed some training to build your foundation in trading. The next step is to strengthen each area/discipline/topic in trading to fully understand how the markets work and what is your role as a trader, and to start practising with baby steps. I have drafted the following curriculum for myself where I have committed to spend time in doing ongoing studies - either through my own research or by reading what's available (books, websites, magazines, etc.): ⢠Classic Technical Analysis patterns (e.g. Bull Flag, Triangle, etc.) ⢠Fibonacci analysis to project price moves ⢠Elliott wave theory to recognize wave patterns ⢠Daily pivot number trading ⢠Bar by bar analysis ⢠Using Bollinger Bands (in trending and trading markets) ⢠Technical indicators, momentum indicators ⢠Momentum Divergence (for trend change) ⢠Momentum beginning (starting of a trend, when?) ⢠Reversion to Mean strategy ⢠Japanese candlestick trading ⢠Multiple moving averages (e.g. GMMA) ⢠Fundamentals, news, and other non technical factors ⢠Intermarket analysis (e.g. Oil, Gold, US Dollar, Commodities, etc.) ⢠Pair trading, spread trading (e.g. long GS but short SPY, etc.) ⢠Relative Strength analysis and trading tactics (e.g. SPY bullish but AAPL is not, short AAPL when SPY tops out) ⢠Multiple Time-Frame trading tactics (e.g. watching 30-min to trade 1-min, etc.) ⢠Market profiling and how to read them ⢠Support and Resistance analysis and how to trade them ⢠The psychology of trading: (Now that's a hard one) ⢠Day trading: time-of-day characteristics (this is important to day trading, not important to swing or position trading) ⢠Trading wisdoms (e.g. "the trend is your friend", etc.) Meanwhile, you may want to check out NoDoji's journal. She started about 2 years ago as a completely new trader. I think she is very level-headed and is doing a phenomenal job. http://www.elitetrader.com/vb/showthread.php?s=&threadid=132626 (Warning: a very long read)
That is a fine list of objectives and when are you going to learn to trade...knowledge is power ONLY when it is used effectively. NiN
Nice list lengthy but all is necessary, most important one is psycology then money management then comes the rest
OTA has just been lambasted in the March issue of Kiplingers magazine - along with pretty much every other hotel seminar course - TMTT, Investools, BetterTrades, etc. etc.
What people do not realize is that there is an incidious arrangement between platform vendors, systems vendors and brokerage houses to rip off the unsuspecting ... And that includes some of the sponsors on this site... You scratch my back , I will scratch yours...more to come, but think about it.... NiN