I agree that the performance records are minimally useful. I do one only because "everyone else does" and it is the most-visited page on my site. That's one reason why I also include several months worth of downloadable transcripts - to see how I sound, how I teach, what you can learn, what the training style and level of specific how-to information I share is, and Please compare with anyone else out there. I believe that people who sign up for a chat room should be there primarily to Learn How to Trade for themselves, vs jumping on a "buy it now" type alert, which is unfortunately what the majority of rooms do. No rationale or reason is given by many chat room ops (other than "it's running, futures uptick noodles pop let's all go buy cien" type of amateur approaches). I agree that everyone should try out all the rooms for themselves, and go with an approach and a trader who they feel comfortable learning from, who will actually teach them. "momentum gambling' type of rooms are dangerous, risky places in my opinion. That's why my primary focus is on realtime training: how to use the COMPQ, TRINQ , sector charts and stock charts correctly, how to route your orders, how to spot the right chart patterns etc. The live trade calls are there to illustrate the performance of the techniques I use. To my knowledge, I am the only person running a live training and trading room that, for example, shows traders the actual pro monitor setup I'm using: http://www.Daytrading-University.com/6mon.gif and even provide the source esignal files in 3- 4- and 5-monitor versions for any traders that want them, to use themselves. I'm also the only person who wants traders to only stay 3-6 months max before moving on yourself. A good trading room should have as its PRIMARY GOAL to TRAIN TRADERS how to do this Independently without handholding. Many of these chat room types are bs'ers who want traders to stay there forever, paying monthly fees, vs being there to learn, then move on and trade on their own. As a teacher, I am not successful unless people learn from me, then can stand on their own two feet and trade on their own. Ask others, "what's your entry criteria?" "why exit here?", and "can I see the monitor screencap of your personal rig?" and see what kind of answers you get. The credibility of whoever's running the room, is your responses. Also, listen to guys like Tony Oz, Barry Rudd, Mark Seleznov, others who are professional traders and can genuinely help as well. Hope that helps, Ken
There is some major difference between "mentoring" and schools for trading. There are some exceptions as well, the turtles were of course thought a certain discipline of futures trading with strong trends and they did well of course while we had trends at all. After their guru status evaporated with clients money of couse.(in some cases) Mentoring also can work for certain types and will be a waste for others. I am not a believer or either, I firmly belive in the "school of hard knocks" - the best and only way in some disciplines.
Makes sense to me. Almost every trading book I read, says "Do your own thinking." I think there are some traders, successful or otherwise, who have found they can make more money selling services than they can trading. Do the math. $295 every 6 months x 2 = $590/year x 2400 customers is $1.416 million PER YEAR. And this doesn't include any extra revenues from video tapes, etc. I seriously doubt if any customers are making this much daytrading. Daytrading is so hot, if you lose some customers, others will surface to replace them. If you can find a dozen or two people to say good things you can quote, you're all set. Obviously, you don't post complaints from any dissatisfied customers. The point is that trainers don't train from altruism, its because they can make a lot of money, more than they can from trading. This is not to say that some trainers aren't good people. But we are all astute people with money. Do the math.
Unlike the big-company outfits that do these $3,000 seminars, I don't make anywhere close to a million a year. (gee I wish!) I'm a one-man company, working hard to help thousands of folks around the world, with low-priced high-quality materials that are Practical for daytrading Nasdaq stocks. Also, fyi, my online course started at $49/4 months. As I've added hundreds of pages of content, video clips and more, I've raised the price, still much lower than any 2-day or 1-week seminar charges, and traders get much better value for their money. I've had less than 8 complaints and well over 1400 compliments since I've started DTU. I'm very happy, and thanks, traders, for the loyalty. The only (rare) complaints I got were in late '99 re: site hard to navigate, and traders wanted charts w/white backgrounds vs black ones, so they could print them easier... so I revamped the navigation to make it easier to get around, and changed the chart backgrounds on new lessons: http://www.Daytrading-University.com/memberpreview.htm Since then, I have not received Any complaints re: DTU or TTO in all of 2K or to-date in 2001. I genuinely believe in the value of my materials, here's just one sample of some straightforward shorting chart patterns, from the course: http://www.TradingtheOpen.com/shorting.htm http://www.TradingtheOpen.com/ChartWeekDTU_TTO.html And, I think traders can, and will, recognize which trader training resources are genuinely useful, vs fluff, which is much of what's out there. I work hard to differentiate. Traders should do their own due diligence, research, and seek out authentic resources to help them. I also recommend Tony Oz, Barry Rudd, and Mark Seleznov as being good for traders. Hope that clears things up. I stand behind the quality of my materials and challenge you to produce the URL of any site with more successful, clear, current and high-quality trader chart setups and training anywhere. Show me the URL that beats the quality of any of those above. I would like to see it, please. Ken
"There are suckers born in every minute". I just got word of some seminars by H.Hannula Phd, RSA, CTA "Market Astrophysics master Course" - cost $64,000
err I am sorry that would be for almost two people. cost per "Working Magazine" new publication - $36,000 check it out for yourself http://www.cashinonchaos.com/hans I think it shoudl say http://www.cashingonstupidity.com
Yes - re seminars at $3,000+ per person, that's way too expensive in my opinion. Do the math on those, eg a company with 80 people in a $3K/person seminar comes out to a quarter million per session for the seminar givers. One well-known company does the old "free informational seminars" routine, loads the audience with a few shills to sound excited, then get others to pay $3K or more for "mentoring" and other seminars and "boot camps" that are a ripoff. Overall, I think the trader training business is 95% bs. I'm working hard to be in the "right 5%", eg no bs here, mostly good resources. Conversion to renewals? Maybe 60% or so, which is decent considering the market. Also, I extend people's time with us considerably, so most 6 month memberships end up being 8 month or 10 month memberships, as a complimentary service. My total income from DTU/TTO (including videos etc) barely breaks 6 figs, which is not a lot given the workload I put into these sites, answering trader questions, one-on-one teaching etc. I've never worked so hard in my life, but I enjoy it, as I get to help a lot of people around the world, vs trading by myself in isolation here in Hawaii, or working for a boss in a corporate environment. Good advice is: check references, ask around, and find trading resources that are genuine and helpful to Your style. Ken
I started trading six months ago and never went to a trading school or any other learning place. For anyone interested in finding out perhaps at least one way to make money everyday simply trade CHKP, JNPR, CIEN and VRTS and look at either a slow stochastic for a fast stochastic 1 minute charts. Chances are that everytime the stochastic indicator hits 20% or less, or hits 80% or slightly higher, its time to buy or sell, respectively. Its true, there is no holy grail of trading or a perfect trading sytle for all markets, all people, or all stocks. Having said this, its important to remember that the stochastic inidcates the basic supply and demand cycles of a stock and is rarely misleading. Stochastics dont apply everywhere, to the best of my knowledge, they apply to some of the most volatile, volume prone, and range producing stocks, and this is what every trader wants. These are my 3 cents. Thanks.