I see what you're saying, but wouldnt you research as much as possible prior to investing so much money? Maybe this forum is a waste of my time - why is there a forum like this available if you cant ask a question without some sticky nose putting their 2 cents in (who clearly hates his own life) asking you why you're asking a question... seriously - read my post, it says "i would like to get some feedback from those who have done this course themselves". When you emphasise words like FRIEND and 'making a good living" in your post, it sounds like youve lost a lot of money and cannot accept the fact that PPL can be successful and make a good living out of trading after 18 months - stop the hating my friend, its bad for you, a curse within itself - seek help my friend.... have a good day
Hey Montal, I was in the same boat as you....had zero market knowledge and was attracted by the alluring E-mini market...I took the plunge 7 months ago and joined TI and paid their huge $ 5,500 US joining fee. I am sure your friend could explain in detail what sort of education you will receive...but as "raker" told you they basically trade using divergence methodology...this information is freely available on the net. There are a thousand different ways to trade the same market so it was important to me to focus on one single methodology and learn it...so I felt it was neccessary to join someone like TI learn their method and then gain access to their trading room to be guided through my journey of becoming a successful trader. You need to step into the arena of trading with your eyes open and possibly have some of your perceptions destroyed. Firstly like "nope" said you will blow your account...I doubt he says this as a personal insult to you....but it is a fact that the overwhelming majority of people go backwards before going forwards. check the final few minutes of this out : http://puretick.com/video/thetruth/ Also, youve probably looked at the results from the TI rooms and thought wow to good to be true....well it is....the results are far from accurate. I can hear a lawsuit coming. Its a fact that some winning trades are called late and marked as winners, some losing trades are called and not marked, other winning trades were identified as low probability and advised not to be taken but yet still marked as a winner.....these occurrences are frequent and greatly distort the accuracy of the posted results....what can I say facts are facts. Your friend would be the only person Im aware of making any money from TI...I referred my brother in law and also another friend...they have both gone backwards considerably and so have other members that they know....between us we do not know of anyone make money out of this. There probably are dont get me wrong just not anybody I know. Trading can be an awesome career but you have long long journey ahead of you.....you need to learn as much as you can about the psychology of trading and the markets you wish trade but especially personal development...success is 90% mindset. Dont expect an amazing education from TI...they keep it very basic so as not to give you an information overload which may cause "analysis paralysis"...it surprised me how basic the learning was...for instance volumes have been written about candlesticks but the TI training on candlesticks goes for about 60 seconds. All I am saying dont go in with wrong expectations and you wont be dissapointed. Examine all options before making a decision....dont give up your job as you will probably need it to support your trading...give up your day job when your trading can support you. I am about to abandon TI altogether I am currently looking at Felton trading which seems very promising (and to all those about to hurl insults on me for daring to mention an organisation...no I am not a member yet or get anything for mentioning them)....you should check them out too...they give you a free week to sit in on. The ultimate goal of a trading room is to get you on your own two feet as a trader. Also like "nope" said..there are other different strategies out there to make money....a friend was advised from a broard investment company that he/we have chosen the hardest strategy (eminis/futures) to invest in. Others have suggested CFD's are a better trading instrument as you can insure against losses...not really sure about it all as I am just starting to explore other areas as well. I have got lots of "non proprietry" info collected that I could share with you just let me know by private mesage if your interested...I am still at the beginning of a steep learning curve so anything you could share that you find would be greatly appreciated also. By the way this is a great place to learn but you will get bitten for saying just about anything....so either ignore all the stupid responses or do less posting and more reading. Regards, Trevor
Montal, I have looked into TI many years ago, I heard some things BUT cant confirm ANY, if you are looking to lean to trade the e-mini you need to really give it your all. Best thing to do is learn how the markets work, FUTURES ARE ZERO SUM, understand how and what that means, it will help your trading, also use a SIM TRADER for a while till you get the hang of it, dont get upset at this board, many just have had a tough time, trading is not easy but it can be done! learn time of day trades, BIG HELP! pm me so we dont have to chat here if you want, I will try to give you some good advise as to what books are worthwhile Give it a shot you never know, you may be good at it you may not. I did some vids on you tube. http://www.youtube.com/profile?user=TradePilotPro and some info on ZERO SUM at my blog. http://tradepilotpro.blogspot.com/ I was going to do a bunch more over the week end but got the flu my voice is still gone. I will be doing many more on trading and setups The one that is working really well is the YEN Carry trade works inverse to US Futures. I have a pic on the blog of how to do it, also I will be doing a vid on you tube as to how to set your chart up for YEN/E-Mini Take Care, Joe Baker P.S Ninja Trader has a good sim account for free
Traders international was my first contact with the whole trading game and the 1st course i ever bought. I took my course in 2004-2005 back in the franz shoar days. Their methodology is not better, or worse, than any other system sold on the internet. They use classic divergence and price action patterns, no magic there. It will be profitable to you once you have developed the skills you need to be a trader, and unless you are a market prodigy, don't count on that for the first few years. If your friend is really profitable with this strategy, that means he managed to develop the skill required for the job. Actually, you don't need a super optimized and ultra performant strategy to make money on the market, all you need is a decent system, provided you trade it exactly like the way its mean to be traded with absolutely zero outside interference like you trying to act on your gut feeling which will always be wrong. TI qualifies as a decent system, but theres a ton of other free systems out there that are equally good (or bad), like WOODIES CCI (its free and perfect for newbies like you) I never could be profitable with Traders international education or material, i was too much of a newbie and i kept making stupid trades after stupid trades and doing crap like averaging down (like franz shoar made us do as students)
Like everyone is saying there are some great resources on the net with which to learn and they are free, $7,000 is a huge amount of money with which to part with for a course when you could get the basics for free . I am going to give you a couple of websites that have been helpful to me in my learning over the years , I am not here to promote either website or there styles of trading but they do give some of the best free material on the web which would save you money on buying expensive books on trading by so called gurus who write better than they trade, at least this way you can read up on the styles at these sites and watch the market yourself and render your own opinion then you wont have to worry about getting a refund on a book or course because you learnt the methodology for free. The first is nqoos.com ,hit the trading tab then it takes you to another area then hit setups tab , that takes you to an area which shows 50 different setups, there are other areas of info. on this vast website and it also shows woodies CCI setups as "silvermotion" says and "divergence setups" , some of these are good some bad , you have to watch the market in real-time and judge for yourself , but for a new person learning it is probably the most educational website. The other website with good material on it is LBRgroup.com , which is run by Linda Bradford Rashcke who is a trader featured in the book "new market Wizards", you have to sign up but its free and she has alot of free articles and magazine interviews which is very helpful , one of her articles she talks about treating trading as a business . This website has helped me in my early years learning about trading . Anyway these two sites should help you on your way , it may take you a while to go through all the material but it will be worth it , then you you can decide whether you want to spend your money on an expensive course . all the best ..
Raker, Silvermotion, Joe, Eministrader - very much appreciated... thats exactly the feedback i wanted - honest and constructive.... thankyou - i will look into this further. I have no idea where to start, i dont even know most of the terminology youre using - im that much of a newbie - but im not silly, so im sure ill learn (baby steps are fine). Can i ask... you guys seem to be traders with substantial experience,... how much can i expect to earn once im at a very comfortable level like yourselves (hope im not being too forward) Cheers Montal
Thats a valid point, however there are a couple of reasons: 1 - he has moved to another state 2 - he does work pretty hard on it, i wouldnt feel comfortable asking him to take time out of his day to teach me. Sure he'll give me some advice, but i do need to pull the finger out of my ass and do it myself. If he lived here, different story, id just watch him trade all day long.. cheers
Well thats the million dollar question , the question on what everybody earns is what causes so much argument and negativity on this forum , I have read some threads where people get really nasty and bitchy comments back and forth when people look to prove or disprove how much they earn , I have even seen when someone showed their trading statements to which people responded by calling it faked. So I am not here to get in a pissing contest with anyone, I just refer some good websites with which to learn from , as far as what you can make, the sky really is the limit , you can earn as little or as much as you want . However i would say that in my early days i made big and lost big and blew my account out a couple of times before i learnt about money and risk management which i believe is probably the most important ingredients for longevity and consistency in this business. regards..