re Todd Mitchell

Discussion in 'Educational Resources' started by zaitzeff, Dec 10, 2007.

  1. tango29


    I bought his course quite a long time ago, I think he had just started selling it then. Basically it was determine a trend, and then trade with the trend on pullbacks and continuation. he may have changed since then and added more, but I bet it is material you can read anywhere. I sent it back as it was simply a regurgitation of material you could get anywhere. At the time I had to contact a couple times to get the refund, but I did get it. Actually his Dad was his back office contact.
    Whatever you do, sit in front of the screen for many hours and papertrade before you go live. Assume you won't do anywhere as well when you go live, and STAY DISCIPLINED! I can attest to that, as I have blown out a couple accounts after doing well for a period of time.
    Good luck
    #21     Dec 17, 2007
  2. X-11


    I saw a Todd Micthell course go for $400 the other day on Ebay.
    #22     Dec 17, 2007
  3. That is about $399 too much...
    #23     Dec 17, 2007
  4. X-11


    Same course will be back on Ebay in no time selling for $300, then $200, then $100, and finally $50.
    #24     Dec 18, 2007
  5. I think the best things on EBay, are people selling systems on CDs/DVDs, and promising easy riches for only $19 or $29 or etc...

    People are convinced that they can make millions from systems that are dirt cheap. Go figure. The lemmings abound...
    #25     Dec 18, 2007
  6. Case against stenberg is below. Call Todd and ask him if he ever sat in the same room as these gentlemen. They all told me they had.

    #26     Dec 26, 2007
  7. traderon


    I had a similar experience as those complaining about high risk vs. reward. True, you are supposed to move stops up as the trade progresses. However, unless the market is widely ranging or trending, you're basically only snagging a few ticks here and there; an average of 3 or 4 trades a day netting several points, minus the one lost trade (even achieving the robust win level of 75%) losing several points didn't leave me with much. And that's a lot of work and commissions.

    Worse, as the market day progresses, the statistical probabilities of the pullbacks he talks about decreases exponentially. So taking a trade before noon might, in theory, work better but afternoon, not so---and that has an even more net negative on the overall performance. Simply put, I sliced and diced this system every which way to Sunday and after many months, could not find a way to make money with it. In fact, I lost thousands in my own account---and I've been trading seriously for six years.

    On another note, I didn't find Mitchell to be friendly or knowledgeable in the few phone calls I'd had with him, contrary to his claims on the website. For example, I had been trading the mini dow (YM) but he seemed to recommend the S&P E-mini. So while I was planning the switch, I called to ask him what the difference was (roughly, what does one e-mini point equal on the dow?). He *couldn't* answer that basic question, saying that he didn't trade the dow! That immediately raised a flag for me. I mean, if you're an e-mini expert and trader who claims to sell a comprehensive course that has 'trained thousands of traders' in the e-minis and you can't answer such a basic question, something is wrong.

    I do not recommend this course, period.
    #27     Jan 21, 2010
  8. zaitzeff


    I don't suppose you can ask for or demand a refund?

    what kind of trader can't tell you the difference between the ES and the YM point value?

    #28     Jan 21, 2010
  9. MKTrader


    No experience with the guy, but he's been selling his wares for years.

    From what little I know, his method is too subjective for automation. I imagine it’s one of these “trade pullbacks within a trend, look for chart patterns, pivot points and Fibonacci retracements as confirmation, etc.” Good luck trying to make a 100% mechanical system out of that.

    He’s been selling his course since the mid-90s. If anyone is really interested (I’m not), I’d ask this: “There are many testimonials on your website. Please give me a reference who has traded your method profitably for at least 10 years and is willing to share account statements with personal info blacked out.” Good luck with that, too!
    #29     Jan 21, 2010
  10. EliteEd


    My experience was a few years ago, and is similar to those who have tried the course. Large risk, small rewards leading to regular losses. One thing I did not like, was Todd displaying his methods by analyzing each days trading.......after the fact. He would reenact his trading day to demonstrate his methods by using a bar by bar replay and show how he would have entered and exited trades. Some of his methods were a bit subjective and left it to your discretion when or where to enter, exit or move a stop. It's alot easier to show your trading technique when you already know what the market did!

    Reluctantly......Todd did return my course fee since I returned it on time. He acted though, as if anyone who asked for their money back was defrauding him by getting his knowledge for free. I had never traded the eminis back then, so his course did teach me the basics of how the eminis work.....but not how to obtain consistant profits.
    #30     Jan 21, 2010