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What programs have you bought? Confess
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What programs have you bought? Confess

  #81 (permalink)
Elite, not Elitist :)
San Diego
 
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adaseb View Post
I started trading stocks originally back in April of this year when stocks were cheap and I figured "how hard can it be to be rich in stocks".

That dream was short lived when I lost a few dollars here and there. Then I decided to get some material to help me trade.

So I decided to go watch "Trading the Nasdaq ETFs" by Darllene Nellson.

When I first watched her DVDs I was so excited that I was going to be a millionaire because "she said so". She said trading the Q's is easy and what you learn here you can use for any stock.

Now back then I didn't know squat about trading. I had no idea what options were, no idea what shorting was, no idea what head and shoulders, double tops, double bottoms were. So everything that came out of her month amused me.

Now fast forward a few months and replaying her DVDs I came to a very important decision. She is so damn full of shit its not even funny.

Here is a clip off Youtube.

http://www.youtube.com/watch?v=8SeJyVJ2_bA

Basically if you look around the room that the material was filmed in you see nothing but pensioners. People who worked their asses off scrubbing toilets for a living to put a buck or two in their savings account. Then she publishes this course for around $5K plus extra for additional software which will guarantee them financial freedom.

You can tell her students absolutely don't know shit about trading simply due to the fact that they believe her ridiculous facts.

- Trading the QQQQs is all about the double/triple tops and bottoms. That's all you need to succeed in trading the Q's.

-You don't even need a computer to trade. Simply call your broker and ask "What price did the QQQQs close yesterday, what price did it open, is the price going up? is it going down? If the price was going up and then reversed and is going down, tell your broker that you want to short.
(I am not kidding on this one)

-All you need is the QQQQs to go up by 10 cents. With only $5K you can buy 100 in-the-money option contracts and get $500 once it hits 10 cents. (she forgets to mention that to buy/sell options you need to pay a shitload in commissions)

-"Know I know what some of you are thinking, your thinking yeah I can make $500 a day but what if I am wrong".
Her reply "Then just don't be wrong."

-If you buy some QQQQs contracts and price goes against you. Wait until it stops going down and then double your position and this way you will make $1000 instead of $500
(She forgets to mention what if price never goes towards you again)

She says the secret to finding tops and bottoms in the QQQQs are pivot points. She says the pivot formula is a secret formula and "she shouldn't even be telling us this because she can go to jail due to its accuracy". She then says you should go to my son's website and pay $5 or $10 (I forgot the amount) to get your own Pivot Point calculator. Can you believe that? She already stole $5K from these pensioners and now she wants to steal another $5 from something you can find for free on Google.



So at this point I was confused. So I decided to Google her and found out quickly that her whole course is a big scam. She even goes thru the trouble of hassling people not to re-sell her DVDs on eBay. Think about this for a minute. If she actually was making millions trading option contracts on the QQQQs why the hell would she waste her time surfing eBay everyday to prevent people from reselling her DVDs. ?

There are numerous pensioners who lost their entire savings accounts because of her.


My point for this thread is that I have come to the absolute conclusion that all these courses are NOT going to teach you enough to trade successfully. They only want your money.

It should of occurred through by dumb brain that "Why the hell would these turkeys be releasing their secrets of trading and go through the hassle of writing the course material, publishing, advertising if they can make much more money trading on their own?"

The answer is simply because they don't know how to trade. They are fakes. If they were real professional millionaire day traders they would keep their tactics tighter than an Asian vagina because if their tactic got spread it might not work anymore and keep them out of business.

What the heck? Why did you basically copy the following post from 2009 and make it sound like this happened to you recently?

kreslik.com - Traders Community :: View topic - What do you think is the WORST course material out there?

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  #82 (permalink)
Market Wizard
virginia
 
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BeachTrader View Post
What the heck? Why did you basically copy the following post from 2009 and make it sound like this happened to you recently?

...

there is no requirement that it has to be recently, beside if it is recently he would still be a believer.

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  #83 (permalink)
Elite, not Elitist :)
San Diego
 
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True Cory. I just found it odd that he copied an old post and didn't update any of the dates or info etc. It was more like a vendor review anyway. No biggie.

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  #84 (permalink)
Elite Member
desert CA
 
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Platform: NT7, TOS
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Funny how in the post the writer keeps calling the victims' "pensioners". Like who even has a private sector "pension" these days. Nasty written post but the guy had already thrown away 5k without checking first.

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  #85 (permalink)
Elite Member
Chicago, USA
 
Futures Experience: Advanced
Platform: TradeStation, NinjaTrader, Market Delta, TOS, StreetSmartEdge, OptionXpress
Favorite Futures: ES, currency futures, options, stocks
 
Posts: 183 since Dec 2010
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It's ok to repost here to make other folks informed of scam services out there... I hv no problem with that...

btw.. she may be out of business... look at this SEC litigation i found by just googling it:
http://www.sec.gov/litigation/litreleases/2012/lr22354.htm

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  #86 (permalink)
Market Wizard
virginia
 
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dstrader View Post
It's ok to repost here to make other folks informed of scam services out there... I hv no problem with that...

btw.. she may be out of business... look at this SEC litigation i found by just googling it:
Darlene Nelson Powell and Robert Eldridge: Lit. Rel. No. 22354 / May 1, 2012

oh no, Bob Eldridge too? I guess he didn't follow his own book method "Making a Living in the Stock Market".

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  #87 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
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Posts: 2,027 since Jul 2011
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"The case against Powell and Eldridge is the fourth action the Commission has brought against investor seminar companies and its representatives. For further information see: .."

Wow, only the "fourth" action the SEC has ever done(?) about dubious vendors. Surprised Ms. Powell didn't fight more. There are far more ongoing and worse out there.

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  #88 (permalink)
Elite Member
Rockland county , New York
 
Futures Experience: Intermediate
Platform: NT 7
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Posts: 235 since Mar 2011
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I am that dreamer that would buy Roy Kelly's cycle identifier if it was offered for $200 alone. Buy NY powerball too when it gets high enough...sooo...

The problem with day trading interday off oscillators is that there isn't much room for SL, not easy to establish a PT, the contrary signals you get (you have to scroll back for sure...) and it really is an enormous amount of info to be on the right end of in a short amount of time day in day out. At least for me.

"Be right and sit tight." - Jesse Livermore
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  #89 (permalink)
Trading Apprentice
méxico df, méxico
 
Futures Experience: Advanced
Platform: ninjatrader, tradestation
Broker/Data: demo so far
Favorite Futures: stocks, fdax, fdxm, fesx, rb, ho, ng, cl, tf, nq, bp, ec, jy
 
Posts: 46 since Mar 2013
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i'll pitch in with my two cents too.


i had been interested in finance for a long time, read news, had a decent grasp of how the stock markets were doing and knew of the inherent risks. long years ago i applied for job in a couple local mutual funds here in méxico without success. still i kept an eye on finance from afar, so, after the financial turbulence of 2007 and the following debacle, i knew for sure to stay away from stocks, because the only strategy i knew of was buy and hold and it is dead indeed.

- in march 2012, i attended an introductory conference by the american institute for professional trading. these guys are mexicanos who worked decades as brokers and investors in the usa, make their living from trading and teach in the usa and méxico. i learned of riding the wave, selling a stock short of having it, trading off japanese candlestick patterns and other strategies, so i decided to take their week-long course and go seriously into retail trading. weeks later i did take the week-long course, which cost 4,000 us dlls. it was money well spent, their approach is legit (it is based in reading candlestick patterns, moving average crosses and little more), they put a huge emphasis on the psychological side of successful trader (getting to a mechanical state for trading, removing emotion and involvement from trades, etc). also, being a foreign national, getting help with setting up a brokerage account in the usa and their knowledge of rules and regulations saved me a lot of hassle. i don't like japanese candlestick patterns, so i don't trade off of that, and these traders at aipt only do instant scalps when day trading while i am learning other methods that call for holding positions much longer, so i don't follow everything they teach. but my purchase was ok, i am responsible for my trading success not they guys at aipt or anyone else, and they did take me through steps 1 and 2, the other 4 or 5 steps i am further on by now have all been solely down to me as it should be.


- i started trading for real in late december 2012, by chance i found some very interesting videos on trading in youtube and then put a lot of time into researching and studying the different services and indicators available. after an exhaustive review, i decided to buy a multiple time frame indicator from customized trading. it cost around 500 us dlls. i do use it when placing manual trades, it works, it spots mostly winners (you have to hold the positions half a day or more, something it took me until recently to be able to do), but it makes more than it loses.

- in mid march 2013, after further research and analysis, i decided to buy an automated strategy from customized trading. it cost around 8,000 us dlls. it works, it makes far more than it loses, and it also started me out on the path of automated strategies which i have found exciting, challenging and rewarding so far.



that's what i have spent on instruction and indicators. i credit my thoroughness for not falling for snake oil so far.


i got anasupertrend for tradestation from this forum. very nice indicator, i even managed to program it into an automated strategy that's beautiful.

i haven't subscribed to big mike's forum, this because i use tradestation and there is a dearth of indicators or products for this platforum here.

i was strongly recommended checking out the books by alexander elder and william o'neill, but i haven't brought myself to reading them.

and, over the extent of my research, i came across some indicators that seem legit to me but haven't tried them out personally. zunaa has some interesting stuff, and their youtube videos are very educational. and abletrend from ablesys seems very legit to me, i would appreciate if the people that did buy these products could elaborate on why they use them no more.

oks, that's my story so far, hope it is of help.

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  #90 (permalink)
Elite Member
Denver Colorado
 
Futures Experience: Intermediate
Platform: Tradestation & MT4
Favorite Futures: ES, YM, Forex
 
Posts: 8 since Mar 2012
Thanks: 0 given, 8 received


MaggTrading,

Zunaa's indicators & setups (they call them strategies) are top notch, but I don't think that they are in business right now.

Their head trader Kent was in a serious car wreck in back late February.
I haven't been able to contact them via email or phone since March 2013.

I have all of their strategies & about 95% of their indies.

Great products & great support (with exception of recent events).
*Best S&P traders I have ever seen.

I hope that Kent is OK, & that they return to Zunaa.com & continue to provide great trading products.


CH

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