I have seen a couple of live demonstrations of the Traders Intn'l method. It seems going for 2 points a couple trades per day makes sense. Has anybody found it to be a consistant, viable methodology....befor I spend $4000 ??
I've taken the course and do not feel it's worth $4,000. For starters, the TIMES signals do not reliably result in more winners than losers. The success of the system is subjective, depending on your ability to handle a number of factors that say whether or not the trade should be taken. If you do not make money, then OBVIOUSLY you are not following the system. If you do make money, then of course the system works. Duh. I am not down on education, if you can afford it, but Traders International teaches you one system, with one set of indicators for $4,000! There are a bunch of other educators out there who will show you a lot more than that, and probably for a lot less money. Don't fret their claims. It simply is not true that if you pay the money they will teach you how to pull 2 pts out of the market reliably. Cheer, kp
Just for the record, I have spent a lot more than $4000 and I have a feeling it is some of you guys bank accounts oopps. sorry bobcathy. Guys and gals bank accounts:eek:
I also waisted $4K with these guys - learn from my mistake and don't waist yours. They promise you an "easy" 2 points a day out of the market. They say most students learn their system in 4 to 6 weeks after taking their course and doing their follow up tutorials. They state that "all", I repeat "all", students achieve 15 days of profitable simulated training before going to live actual trading. NONE of these claims are true. I asked for a refund the day after I received their training manual and BEFORE I took their course, once I saw their scam. Still no refund after 3 months. Consistent profitability is the aim of daytrading - theirs is not the path to that goal. Again, don't get sucked in by their misleading and completely unsubstantiated claims. - rob.
why do people think they have to spend $$$ to develop and trade a strategy? people, some of the most successful traders i know use nothing but very simple methodologies. just spend some time (this is the part where 'commitment' comes in) watching the market with simple sets of indicators and you will see how to make money.
Funky, in my case, call it newbie ignorance. I wish I had found this board before wasting money with TI. There is gold in some of the posts on this board - thank you! Like your comment to develop one's own trading style. That is what I am trying to do now. - r.
Or anything else... this is nothing new. Most folks would rather spend their money on gadgets-- the best clubs for golf, the best supplements for weight lifting and sports, diet pills, etc. etc, then put in the hard work over a long period of time. Tiger Woods could beat most people at golf using a friggin' broomstick. So how do you do it trading index futures... get yourself an IB account an TSim+, a free program which uses the live feed to simulate your fills. Trade on this for a long freakin' time.
I have had a different experience with TI. Initially, I found it interesting and relatively easy to do, especially as I learned to use a bit of discretion as to which trades to take and which not to. In that regard, I only use a trend filter - in a strong uptrend, I only take longs etc, while if there's no trend (as evidenced by TI's 2-3 pt range restriction and/or my ADX(14)<20) I stay out. Then, I started going for only two successful trades per day (3-4 pts/contract) and stopping for the day after my second failed trade - and got almost all winning days (only one stop out for the day in about the 4 weeks after started doing this and was keeping detailed data.) After that, I had someone develop for me a TS tool that shows the TI signals clearly on the screen, and also sounds a (pleasant) alarm. That cost a few hundred $$. I did it because I had started combining this type of trading with others, like using KwikPop, and wanted to keep the trades separate. That works beautifully, as I don't have to squint too much in front of my screens any more to catch those divergences. Always a peripatetic trader, I now trade mainly a couple of other methods, but on one of my screens I always have my own version of TI, because I trust it, and take the first couple of good trades every day. Bottom line is the TI folks took my (considerably less than $4K, btw) money and gave me a well packaged technique and corresponding support that has brought me confidence and a lot more than that initial amount. Was it worth it? In my case, yes. Will it work for you? It depends on your personality, eyesight, patience, and trading experience because TI is not a black system, you have to use some discretion, as they themselves say. Imo, especially compared to some other crap I've spent more money on and got nothing to show for, the TI system is great, because it actually works, if you can stomach taking reversal (uncertain) trades. However, most people are much more comfortable with following the trend type of trading, which is more intuitive and easier to start with. Again imo, that is the most significant determinant of whether someone will be happy with TI or not. Oh well, another key here is the fact that I'm an optimist, always looking for newer and better tools and techniques, while I'm working on my own version of the Holy Grail ... Getting real close