Trading Education Service Reviews

Discussion in 'Trading' started by NewbieTrader123, Mar 12, 2008.

  1. Hello,

    I have been around in this forum looking around at different opinions from people for quite some time. I have gathered some decent info from here but never have made a post because I never had anything of value to add. I have no intention of ever using this name again for reasons of anonymity, as some of the reviews I may give may be taken negatively.

    These reviews of these services have been done over the period of a year or more, so they are not the initial pumped up “I am gonna make millions” review.

    I would also like to preface this with a statement that I don’t think any service, method, room, or system will completely fit a specific individual. That individual needs to take what he learns, create his/her own plan or repeatable method and trade that….regardless of what Joe or Bob is doing in some room. You need to do what fits you, as you will never be willing to execute, hold, exit the trade properly if you don’t feel good about it. And when you don’t do that, this leads to inconsistency or gambling in my humble opinion.

    On to the reviews.

    1.Secrets of Traders.

    I took the course that includes the room. It is supposedly based on what some floor traders do, and includes around a half a dozen setups or so. I am sure that the setups can be decent (one in particular), but I have found that overall it can have a fairly low percentage. Now….changing them up a little can yield decent profits, but I eventually ruled all but one of the trades out. I just didn’t feel like the fit what I was looking for. I am NOT saying at all that a guy could not trade this profitably. Larry is very open and records what all of the trades have done, and they use a three lot. Larry recommends that a guy starts with one, but can certainly be more difficult to achieve his recommended goal of at least $200/day on one contract for four months before going larger…that is great, just don’t think the trades are good enough to produce that, but again, I am sure there are people out there that can do that with the methods. The main thing that I didn’t like was the fact that Larry himself is rarely ever in the room imparting his wisdom….seems like he is more into being on television, and promoting the business with little TV recordings than providing a service, which is certainly needed to make a business successful, but I thought I was paying to learn from a seasoned trader on a daily business, not a younger fairly new trader that does marginally well (who runs the ES room). He is a great guy, but I didn’t pay to follow a great guy…I payed to follow to great trader. The room is very professional and the trader really does do his best and probably will be a great trader some day, but I found that I didn’t get that much out of it. Anyway, it was definitely not a complete loss as I was introduced to market profile (they do not teach it much at all, but I was introduced, which was worth it in itself). In the end, I would have taken the course again just due to finding MP, but I probably would’ve found that at some point anyway. If Larry was in the room quite a bit more instead of doing his BS TV spots it would probably be a great service.