www.stockmarketmentor.com offers a four week free trial - after that $60 a month. This is Dan Fitzpatrick's site. I've been studying full-time for four months. This site is the most helpful edu material I've belatedly found. Initially I took a screen shot of each chart Dan discusses, printed it out and made notes on the chart of Dan's discussion. Each day. I learned fast by this method and don't need to do that any more. This is a trader site. The forum is also top notch. If I had to chose three essentials for learning, it would be a real-time subscription to stockcharts with Murphy's emails; stockmarketmentor.com for guidance, and a brokerage account at TDA, E*Trade, Schwab or etc. You can branch out from there . . . Best regards.
Thanks for the coaching comments and this link. It looks like a worthwhile service. I am also contemplating the Options course for the Coaching program, but at $2500 I am not sure how this would be better than other online coaching services for much cheaper?
Look TD is a great reputable company for your long term investors, comfort zone traders, and 401k's. You need to understand that their main goal right now is asset gathering. All the ZAZ and promises will get you to one question.... Were else do you have money? If you really want a trading coach go to www.investopedia.com or take the OCC's free online classes. That is all they will teach. Order entry basic stuff ect.....
How is swing trading more like investing? At any rate, I recieved a call a few days ago about this program as well. There didn't seem to be any true high pressure sales tactics (but it was definately a sales call). Perhaps I have been getting ready for a similar program as this, and perhaps because I also find it easy to say NO. The idea of this being from TDA makes it easier. The person I spoke with (Mark) said there was also another 6 month program involving options ($2520.00). I am considering this one. How have those of you who have tried fared. Would you consider it worthwhile? Mark said the program would expect about 1 to 2 months of paper trading before trading live and after the first fewweeks we could call the "Resource" line as often as we would like at no extra charge. He did say they wanted to train folks to be independant traders. I would like to one day be a full time day trader.
Well, i have to say, it is helping to this point, but time is the real indicator. I just finished the stock portion. I understood a lot of it going into it, but it was very helpfull to have someone to talk to and go over things in detail, and bring undiscovered information to the forfront. My coach has a strong background and everyone I have talked to on a call-in has answered my questions very well, and they never cut my time, they would talk as long as I needed. The education is what you want it to be, and for me it is a short to intermediate time frame trader. They were willing to help me with whatever goal I had in mind. It is interesting though, that everyone I have talked to has a very strong technical trading bias, and the books tend to be in that direction as well. There are always nay-sayers, and thier might be better courses out there, but being a beginner, I just need to learn and it was a place to start. I have already made over half of my course cost back, with limited trading of around $8500 on average in the market over the last 3 weeks using skills I have learned and/or refined. Initially I was paper trading, or I would have done even better. In two weeks I start the options classes. This is where I need help the most as I have never traded options. I am confident thought but I understand that even beyond this course, I will continue to learn. Just thought I would update my experience to this point. To the comment that there have been so many new posters to this subject, is because there is not a lot on the web about it, because it is so new. Also, why wouldn't TD or any other company in the business want to groom savy and skilled investors/traders, they generate income for them with comissions and fees as long as they are sticking around. Someone who will loose all thier money or get frustrated and quit, has no long term value to them. Hence they are probably more interested in grooming traders. And as long as I can learn to make money for myself, why should I care what thier goals are.
That's a good question. Glad to hear your experience is working out for you. I would like to try it on what you say. If for no other reason than to have someone to bounce ideas off of. My question for you is do you do this full-time or part-time? My problem is my work day would typically only leave an hour during the day after work in which to check the markets and trades before TD's office would close. I would like to consider this service in the fall or winter when there is more time. Please update on your experience with the options portion. Thanks.
Hey, any updates? I was thinking of doing this thing just for kicks as they keep bugging me about it. Would be interesting to see if its worth while or not, for the same amount of money...seems like you would be better off here than a prop. shop that may or may not coach you. Any thoughts on that one? -troll
Sorry for the delay getting back to your questions. I quit checking back after about 3 weeks. I fininshed the Options class and it was fairly hard compared to the Stocks course. I had a reasonable knowledge of charting and indicators, I just needed help bringing all of that together to mean something. I knew little to nothing about Options, but they are usless, unless you are very confident about your charting skills. To answer the question to full time/part time, I am self employed, which gives me some flexability. The class is 1 hour a week you choose the time I believe between 7 am and 7 pm Mountain time. At least that is when thier hotline is open. There is plenty of homework to keep you busy in your free time each week. You will just need to make that descision. For me I had a friend that we talked about stocks and what we were doing. I was buying books and educational material, and he was not, so I needed to to have someone to talk to that understood the thing I was learning and help me with the things I may have miinterperted or missed all toghether. The coaches I had, absolutly did just that. I am not advocating anything here, as CBOE has free basic courses and the advanced courses appear to be fairly priced, and you can buy them as you go. I am sure there is probably a better course or program out there, but is this course good? Yes, a little too short but good. Did I learn anything? YES Am I a better trader? YES Do I still make losing trades? YES Am I making money now? YES Do I have more to learn? YES, alot! Am I a full time trader? NO I am only approved for level 2 options trading if you understand what that means. I have yet to do my first multi legged options spread. But I am close to it, as I have an idea. The great thing is that I still have access to the hot lin untill March 2010. I can call and ask questions, and talk about my strategy and they will give advice about trading as long as you actually bring a real idea to the table. They will not help you if you do not have an idea when you call. I hope this helps, and if you do sign up for this or any other course, I wish you good luck.