I've been involved with the market since August 2005 and have seen it all. I enrolled with NFT back in July 2010. I chose NFT because of their approach to training aspiring traders. They focus on the psychology of a trader and that is what differentiates them from other programs. I’ve been through many other programs and they hardly shed any light on psychology. I’m not trading live yet, since I’m following the structure as closely as possible. I’ll trade live once I get Henry’s approval. I don’t want to prolong the process.
In regards to Horst, I feel that his 6 years prior to joining NFT were mainly hopping from system to system as we all do and turned out to be a “waste” of time. In all his videos you can tell that his psychology is what gives him his edge. His mentor assisted in attaining that edge. It has been mentioned that Horst “cherry picks” his videos. If my memory serves me correct, I think back in January he kept a video journal of all his trades for the month and uploaded all of them daily. I’ve attached a snapshot of his summary of trades for that month. The way Ed describes on the edge trading clearly shows his mental attitude towards the market. Horst consistently demonstrates that edge trading can be done. There are multiple lessons in every video that Horst produces. Observe each video with an open mind.
Your making progress. I see that you are finding the reversal areas, but your psychology is his hindering your success. Just observe how Horst enters and reenters even when a gift is made. Also look at how successful he is even when multiple gifts are made.
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Thanks for the response guys. RosDaBos, your trading SIM. Bluemele, are you trading cash and winning consistently? A nagging concern is that the psychology you speak of has an overarching purpose. It lures you to sign up, pay, and stay in the program. Do you know students/alumni who are consistently making money (besides Horst and those few others who make videos for website distribution.)?
Shootz! I can't surf that stuff up there! You crazy! haha.... I tried a few times, but I didn't grow up surfing so it was a big hurdle when my friend would drag me out. Then I would get scraped over all the coral and wish I was never born scrubbing it out of my feet, shins, ankles, calves, butt, back.... OUCH!!! I will stick to the easy stuff, but I don't surf much anymore due to a surgery on my belly which causes a lot of pain to paddle etc..
First time I had these things so close to my house! haha....
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Well, I can only speak for myself and I think I had this conversation elsewhere on this thread.
Do I believe this is the only technique known that will generate consistent profits? NOPE.
Do I believe that there are other profitable traders within the group? YES.
Do I believe that my psychology is causing me a lack of opportunity in the market? YES
Do I believe that Horst's success is contingent upon his years of experience of this and other systems? YES
Do I believe that anyone can become a master trader in 6 months or less. UNLIKELY, but my opinion is open.
Horst is an amazing guy and someone to look up to as a trader. I don't know him personally YET but believe his core values to be consistent with a great many people which I would categorize as 'good'.
I do believe NFT is different in that they do teach you the 'mental' aspects of trading.
I trade SIM, but I trade it like I am live. Probably except a couple days a couple weeks ago where I had 'lost that loving feeling' after a few weeks of UP UP UP UP UP UP UP UP UP
I do not believe the indicators are perfect everytime and that is something I think Henry as a teacher will continue to challenge his students with. But, hey, who am I, just a guy with a journal who paid some money to learn from a good trader.
I have sat in the room w/ Henry, he is a good trader. The challenge is taking that from him and transplanting it to someone else. We are all so very different that it is an almost impossible feat in my opinion to bring everyone up to the level. He is really trying though. Most people will burn-n-turn but he seems like he wants to really get all his people to the top with him/horst, etc..
If 10K is a lot of money to you, then I suggest you not do it. If 10K is not a lot of money to you then I would say do it on one condition. You stick with it for 2-3 years and don't look at anything else and you devote at least 4-6 hours of study on yourself and trading.
My main problem is probably due to me losing $Millions of dollars in the real world of non-trading while I am learning trading. When you wake up and you realize that you are down more than most people make in a life time it is a bit of an emotional roller-coaster to remain positive at least for me.
My family life is my savior, my credit score is intact, but my EGO has been decimated. Which is something positive in my opinion.
Ask yourself, if I joined, how would I feel. If I didn't join, how would I feel. Rate those emotions and go with your gut.
Good luck with your journey whether you join or not. Life is short, make the most of it.
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Oh, I have been live a few times off and on. I have paid my dues live. I have been up 75K (forex) and down a couple hundred K's, so LIVE isn't scary to me as I am used to a big dollar game. It is the fear of failure that is the problemo and as you can see, there has been a lot of fear seeping in!
I have to be honest, I have no idea what they are offering, and I thought they were doing 10K for a while. Please don't use me as a recruiter as I am not and do not know. If you guys want my opinion on my trades and my philosophy that is great, but if you want info about NFT, then it could be directed to the 'vendors' page and Horst as well as others can elaborate much better than me.
I don't have time to be a recruiter, but I do believe others are worthy to do such. My experiences are my own. Everyone is different.
BTW, I could be profitable and I think I was for over 2 months, but my points were not up there and I am not able to make the jump from small hits to big runs, so that has been the stretch for me. Psychological 100%, but a trader does need EXPERIENCE in my opinion.
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It takes roughly 4 years of undergraduate school, 4 years of medical school, and 3 to 8 years of internship and residency depending on the specialty selected to become a doctor. That's approx. 50K hrs screen time for doc. With an est. cost of tuition between $250-300K
In 2009, physicians practicing primary care had total median annual compensation of $186K, and physicians practicing in medical specialties earned total median annual compensation of $339K. 600K if they go into something like neurosurgery.
So then here we have wanna be traders. People that want to be involved in the most profitable business in the world. Competing with people that pay more in taxes than a doctor makes in a year. And they want to be able to do it on a shoestring. 3-4 months time and maybe a few grand. Do you have any idea how out of touch you are with reality?
“The more I am around people, the more I love my dogs.” ~Author Unknown
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Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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