David Halsey at www.eminiaddict.com is the best trading education site I have found anywhere, by far. No bs, no crappy indicators, nothing to sell you. He trades primarily off fibs, pivots, support and resistance, gap fills, strictly the simple stuff that works. He provides pure technical analysis and educational content, no BS trade calls that work/don't work. He TEACHES you how to trade on your own so you are not stuck following some loser's calls. He provides constant real live market analysis before the open, during the entire trading day, and a recap after the close of the setups that worked and failed. For all this, he charges only $29.99 a month, his service is worth easily 10 TIMES that. There is a 7 day trial and you can join the room for free for your first week, and SEE that the trade setups really work. I have been a member there for the past 9 months and can highly recommend it. I am not affiliated in any other way, and do not benefit or get any kickbacks from new members. You can find me there under the name n00btrader, along with hundreds of other real traders who participate in the trading room and chat everyday. -n00btrader
My trading has improved immeasurably, going from having no idea on what I was really doing in the markets, to having a proper trading plan, excellent rules, understanding risk/reward, market internals, breadth, the trend, price action, etc, everything you need to know to be successful. I have learned more here than I have ever learned from anywhere else, by far.
You can "highly doubt" it all you want without even taking a look, anyone who assumes so is losing out. He periodically uploads his market analysis videos on youtube, here is one from a couple weeks ago: http://www.youtube.com/watch?v=xO4HTnN6c8M You can see him describe a swing trade long entry on the ES at 1014.50 on 9/01/09 with a target of 1050.25, which was hit on 9/15/09 for a gain of 35 ES points. You can see him describe similar setups such as this all day long, which regularly work out and hit their targets. The other rooms charge expensive rates and make more income from selling subscriptions than actually trading, this one is different. He doesn't care about the money from subscriptions, or he could easily raise the price and rake in 10x more, I would pay it. He teaches to give back, and benefit himself as well, as you can learn from yourself and others while you teach and improve your own trading. To anyone interested in improving their trading, I HIGHLY recommend they try it. It's FREE to watch/listen/participate for a week, you have nothing to lose.
that little part, not true at all. if he didnt care, price would be zero. if he raises to $100, many who see value as $29 right now would quit
Perhaps you are right on loss of some subscriptions due to higher price, but it would be their loss, as the quality education is truly worth much more than that. To me and most other subscribers, I would pay as much as I could afford to continue learning at this level, and honestly, that would be much more than $100. If you even make ONE good trade a month, the service has paid for itself and then some, many times over. How much are people willing to pay for a quality education at good schools? If you can afford it, and understand the level of quality you are getting, this is no different. To those who understand it, they would pay more, and the current price is a GIFT. To counter your point, there are direct benefits to the quality of the site in charging a small membership fee over making it free. Considering your username, ironically, you may understand this point well. Doing this keeps away the flood of "low quality" participants, trolls, haters, idiots, losers with too much time on their hands, random racists, spam, etc. After the site became popular this was a common problem, and making it paid subscription only fixed it. The fee is negligible for traders, yet enough to keep trolls out. I don't think he cares for amount of the fee, but honestly it doesn't matter, the point is the education you receive here is priceless, yet in this rare case, everyone has the opportunity to gain access to it.
I do agree with what you said that being in a live trading room is not the path to success for most people. The problem is that even if you find a good one, what happens if something happens to the moderator? Or he just decides (like I did) he isn't going to do it anymore? If your "system" is just to follow his trades, well, your pretty much screwed. That all said, the best off the floor day traders I know average something between $500K and $2million per year. Now, maybe I'm just not hanging out with enough of them anymore, but I can name about 9 of those off the top of my head right now. The most profitable trading website guys I personally know are banging down 9 figures +, I can name 6 of those, and I can name dozens making over $500K. I know one guy with a trading service who made nearly $200million last year with it, not very many big time hedge fund managers even come close to making that. So, the argument that if your edge is so good you would never sell it does not hold water.
To add an important point in order to not disappoint those looking to be spoon fed, YOU WILL NOT get trade calls from www.eminiaddict.com . He will not call out his entry/exit before he takes it. It is an education site only, he TEACHES you how to do that on your own. Which in my opinion, is MUCH more valuable than a trade call service. Depending and relying on someone else to make you profit and putting your money at risk based on their opinion, is stupid. The whole âGive a man a fish; you have fed him for today. Teach a man to fish; and you have fed him for a lifetimeâ makes a lot of sense to me. But, to each their own.