A good place to start is get an education. Pristine is the company where Velez originated. They will teach you how to trade and support you and offer coaching for life. There fees are very nominal considering the high quality of what they offer and their support. I would start with TPM I and TPM II. Even though they are both valued at about $3000, you can get a package deal which greatly decreases the cost. Trust me, if you don't get some kind of education, and then test it out in paper trading, you will quickly lose the money you would have spent on education and have only a bruised ego to show for it. Give yourself the best chance for success in this profession where few "make it."
How does one "lose the money you would have spent on education" when paper trading? Can you fill us in on how your live trading is going? Sorry to be nosy, but if feel you got your money's worth from them what kind of profits does that mean? Are you able to make a living from your trading? And how long since you completed your coursework that you got subsequent coaching? In other words they say coaching for life, is that what you've received? TIA!
Someone falling for this advice needs more than just trading education. Hmmm, let's see. We've got a couple of firms (VCM/Pristine) which have almost universal horrendous feedback about their ethics and value to fellow traders. Given this, a trader that would spend $3000 - 6000+ for their 'services' will certainly get what they deserve, IMO. Good luck with that. PT Barnham certainly knew what he was talking about. Eagerly awaiting your reply to Sheddog, sofiliz.
The head trainer of Pristine is the VP of Title Trading now. Trust me, do not spend money on training unless you get specific strategy from Don Bright (which seems to have positive feedback, i dont know personally) or you can somehow court EricP into helping you with free T-shirts and coupon books...
TPM is "The pristine Method" which is divided into part I and part II. Part I covers trends, pivots, candlesticks, and basic setups. TPM II covers intermarket analysis(relationships between markets), intraday internals, (such as tick and trin), relative strength, and other concepts which flesh out TPMI. .If you want to check them out, Ron and Greg give several free presentations a month, and you can learn a lot for free. Go to pristine.com and sign up for free workshops. There is no pressure to buy anything, and many grads go to the weekly free sessions to keep things fresh. The hotcomm interface for the chat is not buggy and works great.
I went to the traders expo and by chance watched the presentation of Oliver Velez. What a very good speaker. while the show was very very small he must have had 30-50% of the people watching him during his show. Towards the end he offered his 'deal' with the training and the financial backing. Right away my internal alarm went off to figure out his angle (seems like there always is one) I talked to others here on ET today and did some reading on the web and ET threads. For me the jury is still out if its a good value or not. Let me say why. IF (and I think its a big if at this point in my mind) the training is valuable and IF one could leave it with the ability to make money trading than I would say regardless of the financial backing its worth it. It seems though that the whole thing is made so that all that is really happening is that he is selling an 'expensive' training program and one of the 'hooks' to make it appear to be the 'cure' is use of his money. But it appears that you don't really get to use his money. I am a profitable trader and I could offer the same thing (even better actually) and know that I would make huge money from the training and that most will not stick with it long enough to make it. For me, the claim of being able to use $50K and then finding out that the maximum size is 100 doesn't fully add up (although I will give him that you could call that part of the training for the first month) It would be nice if there are any actual traders that 'made it' with this program that could say how and why. Maybe if there are not traders that step forward to say how they are successful it will say more than anyone here really can???
They ramped up their marketing budget. Ive been seeing them all over CNBC this last week running commercials
========================= TmmJR9; Actually, since his nick- name was Bear21 & its a bear market; think that was a joke, concerning paying up for 13k. I do like the comments on his book,& Joshua Lukeman's book; & the library charge-$1.50. Sounds like a good idea starting small; where-ever.............................................................................
Josh Lukeman's book is superb. I originally got it from the library, then bought it and read it two more times. I've recommended to several new traders who post here asking for advice. The important thing is to actually follow the advice in the book. (I'm slow, but getting there...) :eek: