LEFTY........you just threw out a true gem...............instead of throwing away $ 5000 on "junk"..... roll up your sleeves and learn to trade with floor pivots........ a methodology that takes time to learn ........BUT........... truly a system that produces winning results.
Hello Larry: Your comment reminds me of something. I used to know a lady who wrote a commentary on "TradingMarkets" site. Her name was Carolyn Boroden (I hope she won't mind me mentioning her name). Nice enough person, she used Fib levels to trade against (and time targets as well). She did pretty well trading with this system and I never gave it much thought (I was busy losing money at the time so it didn't interest me). In one of her commentaries, she mentioned how puzzling it was that given the same information (point of entry and exit) some traders could make money consistently, and some seemed to always either scratch the trade, make just a few bucks or even more fascinating, lose money? So apparently the idea of chosing a system is one thing, and making it work is entirely another, and this is why the other disciplines including money management, position sizing, execution and the psychology of trading (which I used to think was complete crap) are so important. Good luck in the markets tomorrow boys and girls. Lefty
probl misinformation propaganda, those setting look weird. and don't forget the mother of all TIMES threads http://elitetrader.com/vb/showthread.php?s=&threadid=18677
Answer me this then, Why there is no real money trading account proving and demonstrating a value of a Times TI method . believe me, if anyone of those teachers can make money trading it, they would post it . Truth is, they cannot trade it profitably . So much for honesty....
I know I have said this before, but something sounds off here. I just can't believe that its "worth it" to pay someone $5,000 bucks to learn a trading system, when there are so many other decent options (some of them essentially free). Okay, I think I have beat this one to death a couple of "times" now. Good luck, Lefty.
After reading VisionTrader's journal, it seems to me his/her trading method is the exact same as the TIMES METHOD. I don't know everything about the TIMES METHOD, but the descriptions seem to match a little closely.
"I am currently a TI student and can honestly say that TI is an honest and professional company. The TIMES method is the most simple and effective I have ever traded and the training and support is bar-none excellent. I have lost a lot of money in the past trading worthless systems. The TIMES methodology has been working for me and I say without reservation that it is worth every penny of the tuition price. Regards, Mark B. " I am sure the TIMES METHOD works well in theory, but what about in real-time. I am sure many of the traders on this site can teach and give commentary in real-time. The issue is how to manage the trade once it is in. Of course, with trading 1 contract, that is easy since you are either waiting for it to hit your target or get stopped out. But trading with multiple contracts is a different story. If they were to place the trade while teaching, then I would say they have a service worth the money. They know it is safer to comment on setups rather than take the trades.
I believe there setups as follows... 1. Double Tops 2. Double Bottoms 3. JOT -- something with trends 4. Cup and Handle 5. Cat Ears - which is something like a head and shoulder. 6. Technical double bottoms and double tops.
I don't claim to have all the answers or to be a pro. What I do know is from my personal experience and speaking with other TI students. The 6 months of mentoring/training during real time has been a great help to me. TI even encourages their students to not trade with real money until they can trade simulated for 15 consecutive profitable days. I don't know about TI staff's personal trading records but check out the January 2005 issue of Active Trader Magazine for an interview with a very successful TI student named Dina Takemoto. Regards, Mark B.
Interesting you posted about the Active Trader magazine. I also noticed she is a testimonial on the front page of the Traders International website. Hmm..... Pretty Interesting. Mark, education is always needed and you have to go somewhere to get it. But, the claims to pull 2 points out of the market consistently and so easily only based on this method using 1 contract is very difficult. As far as simulated trades, have you been able to make 15 consecutive winners? I am guessing you haven't but since you want to make real money, you started trading real money anyways. Or, if you have made 15 consecutive winning trades in a row, chances are you can not duplicate with real money. I am not trying to be harsh, but just the way I see it. After all, these are two different lagging indicators. What are the chances they both confirm and the trade is a winner 15 times in a row.