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Trading Reviews and Vendors

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bill mcdowell

  #48 (permalink)

Trade with the flow
Paris, France
Trading Experience: Advanced
Platform: Market Delta & Ninjatrader
Favorite Futures: ES
cunparis's Avatar
Posts: 2,565 since Jun 2009
Thanks: 1,157 given, 2,059 received

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I think the key component is whatever it is the person is teaching you resonates with you and are you are able to apply it and make money from it over time. You hit it on the head when you said his “method” did not do it for you, which is the only thing that really matters not seeing his DOM or account, but whether you can implement it, modify it if need be and then make money from it. After all we are only ever trading our beliefs - according to Van Tharp. That is why you can give someone a system that you are making money from and when someone else trades your system they lose with it. The best way is as you said find a method and style that suits you and then that is the key to your success. Know Thy Self and Thy Plan.

I agree 100%. I think everyone has to learn their own method. Can be based on others' ideas but the method has to be your own. There is no right or wrong answer. I've tried trading like other people and it just never worked. But over time I have been able to come up with my own method that is unique to me.

I think the only way to learn to trade someone's method is to have private lessons or at least a very small group, see the persons DOM all the time, see all his charts all the time, ask questions, get feedback on your own trades, etc. I'd even say it should be in person. That is very time-consuming for a profitable trader to do all that and most don't because they don't need to. That leaves the scammers. They have no choice, they have to do it in order to have an income. So they hide things, get as many people in the room as possible, etc. And they can't give good answers because they really don't know how to trade themselves.

I plan to do a whole blog series on this. I've uncovered several scams lately. It's really pathetic that people stoop that low and the sad thing is no matter what, there will be lots of people ready to hand over their money and sign up. The people at (formerly BMT) should know better but all those traders just getting started don't. They get hooked by a "free webinar" and it's like signing up for the next Tony Robbins seminar. You feel great about it and do it and then when you have second thoughts you realize there is no refund and you've been had. Even sadder is some stay in these rooms for a year or more, not knowing they're being suckered.

Anyway.. can't save the world but I at least like to put the information out there so if people good it they'll find it. When I googled Bill McDowell there was nothing out there. And now there is.

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