I think the vendor being unable to answer my question pretty much says it all: Just another group of salesman selling dreams to newbs. They focus on newbs because that is where the money is. They can't compete with other software companies that offer quality products to traders, so they package up something fancy along with a chatroom and charge retarded fees for it. Not enough profit margin in trying to break into the legitimate trading software business. Unfortunately you will not learn how to read the market properly by following a 3-2-1 system or any other cookie cutter system. Sure you may learn how to take their signals, but then you are locked into their software and chatroom. You're screwed if you ever try to go anywhere else because your signals system will no longer be available. Please, sign up for the program, spend a grand or two, and then when you give up, remember that I posted this. In the mean time, feel free to talk sh*t, but I'll be here waiting until you prove me wrong. Oh, and keep in mind- not only will you be paying them $400/mo in fees, you will also be forced to use them as your broker. LOL
I'm happy to answer anyone's questions as long as we try to stay civil. The forum is meant to be a positve experience for all participants. Regarding the pricing of our (or any one else's) products and services: all consumers have the ultimate vote. If they receive value added and utility then they will pay for the product or service. If they don't receive value then they will not pay. The consumer (just like our markets) is the final arbiteur. I kindly ask to refrain from your negativity.
I'm not being negative, just opiniated. Helping others is a positive thing. I would suggest anyone considering Auction Market analysis or Market Profile read the following: http://cisco-futures.com/beginning_trading.html and http://cisco-futures.com/new_to_futures.html I am sure you will agree, since your marketing consultant also referred traders to the Cisco Futures page. A few notable notable quotes from the above referenced Cisco articles: Traders come to the CISCO website with all levels of preparation: 1. The Raw Beginner barely knows what a future or derivative is. Also, he (she) is naive enough to believe that someone has a trading model that consistently beats the market, and furthermore, that someone will sell the beginner said model. (Pause for a commonsense moment: If you owned a model that was a consistent winner it could make you rich. Would you go out beating the bushes for someone to sell it to or would you use it to get rich?) This person needs orientation. Read that sentence in bold a few times until it sinks in. Okay moving on, Another that I like: Let's start with the facts. We have been teaching people to trade for nearly thirty years. Like you, we started out buying books and advice. Some books had methods, some had the 'expert's' philosophy. Most had some sort of a 'come on', some way to get us to start trading through the author or the author's friend. Like most beginners, we thought we could learn from our broker (s). Not so! 1. Futures is a commission game. Your broker lives from commissions, not your earnings. 2. If your futures broker were a good trader, he would probably not be a broker. His service to you is taking good care of your account-- seeing that you are treated fairly. If he does this, he earns his commissions. Good idea to rely on your own trading calls. 3. Futures are not like stocks. You can hold a bad stock and hope the economy bails you out. A bad futures trade can get very expensive very fast. It is in the leverage. The advantage of trading futures is in the high (maybe 20 to 1) leverage. The disadvantage of trading futures is the high leverage (if you abuse it by taking undue risk). 4. Day trading appears romantic and exciting. It offers many of the perks we all like: be our own boss, be paid directly for our efforts, an opportunity to make really large money, and so forth. Trading is hard work with high risks. You are competing with professionals' just as in any line of work. You do not want to compete with the floor members. They can trade in 2 seconds for $2 commission and be happy with $20 profit. You cannot do that. However, electronic trading and lower commissions is narrowing the gap. Your trading methodology should not go head-to-head with the floor. 5. The leverage in futures makes it possible for $5,000 or $10,000 to be turned into big money. This is true but: Most public traders lose (85% to 90% by some estimates). Do not abuse the leverage! 6. Most public traders do not understand futures trading. 7. Off floor (computer) trading evens the odds somewhat. You can get fast executions with little slip. In reference to items 1 and 2, think about it...TradeMaven is a broker first and foremost. And you are taking their trading education course. Just something to think about. I'm not being negative but any upcoming trader should have access to all sides of the story so they can make informed decisions.
Good luck on that one. ZAL If he wasn't negative and miserable (which most negative people are) he would have no reason to exist. I said in my first post on this thread, which was deleted, that Reaver is ETs Master Basher and he has lived up to his reputation despite his denial he would not do that here. Look what he did to PureTick's forum and that will give you a good indication of what he's all about. Just another miserable losing trader who hates the fact that all others aren't like him. I sent this PM to bthomas and I guess he hasn't forwarded it on to you. "Do yourself and your friends a huge favor and don't get sucked into any dialoge with this shitbag. I had a trading Journal and he and his pack of trolls screwed it up so bad that the moderator and I decided to shut it down rather then constantly police it. His MO is to suck you into a discussion and set you up for a smackdown later. Just spend a minute to review the quality of his posts. Good luck here and I hope it works out for you."
ZAL, (Doug Zalesky, I assume) What happened to the managed futures fund you people were running a few years ago when doing business as elocaltrading ? ( I was interested to join but now it is gone...)
Wow, some of the most intelligent writing this forum has ever seen with specific focus on the real issues at hand with becoming a successful futures trader .. and while certainly not the OP's intention, it brings a certain focus and intent to the thread, and elevates it to another level. I almost wish he would stop myself. What's the point of educating people on the real business issues of what it means to be a trader, particuarly of leveraged products? Especially when they don't appreciate it, anyway ... why not let them just walk by the bush and get eaten by the Tyger?
You're off topic. What you're saying could be a footnote on every single thead on ET including your own. And stop shilling for Reaver.
It's actually still active and doing quite well. I think we are in our 7th year now. My aprtner Jeff Ganis manages it. He can be reached at jeff@trademaven.com (past performance is not indicative of future results)
Ok, do you have a link to the website that offers this program ? (To the critical people ; I don't have first hand experience with TM but based on feedback , these guys seem to be straight shooters)