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Last money I spent was the $100 for Elite membership due to indicator access, when I first got into futures I was VERY VERY indicator bias and the big pot of indicators available here was a big draw for me. But it ended up being the best 100 spent so far.
Day 1 - Now
Penny stock system - $2500
MT4 robots/system's close to $500
Swing trading room/course - $500( well worth it still use this info to this day) FIO membership - $100
That's really the bulk of my trading program expenses not including all the books( buy used it's A LOT cheaper ).
As someone who is still in the beginning stages of this journey, I appreciate all the examples that people set here, especially the honest "not using any more". It is good to learn from others.
A follow-up question to all of you, if you do not learn from all those systems, seminars, etc., where from do you learn? What does your learning process look like?
Some of you have mentioned learning from this forum. There is so much posting going on here. How do you locate what is worthy of learning? What's your selection process look like?
There are a handful of people on this forum who are extremely helpful the majority of them have there name in red. I would focus on technique then try to immerse your self in all the info you can find about it.
There are lots of forums and websites that have great basic info but I've always wanted to see 2 sources for the same info as if there are any major different then I'd look in the difference.
I would also start grabbing all the books you can get you hands on... if you have problems with emotions read a few of those books. If your a volume guy get some volume books.
I don't think there is one source for all the info you will need unless you can get your hands on a prop shop course or something similar then this "might" have a great deal of info an save some time.
Like i said before i bought a great price action swing fx course and have used that for almost all the markets. I found that from searching an searching online then taking a free week of Info then ran with it.
If you gonna buy any course/trading system I'd ask for a free demo or make sure there is enough proof of it working so you won't get screwed over.
I think that the original question "How much money have you spent on trading related tools, indicators and systems in the last 12 months?" had more to do with get-rich-quick systems than with less-expensive (and not predatory) sources of real information.
No doubt there are books, webinars, even courses that are of value; the warning flag for me would be price and how much they promise. Too much of either (price or promised results) probably means they are not going to help you, and probably are scams. (It just takes some judgment and skepticism to tell.)
This forum is a good place to learn stuff, and the FIO webinars are a good information resource as a rule. You are going to get a bewildering range of different and sometimes opposite advice no matter where you look, so there is a limit to what you can get from any external source, once you have a few basic ideas down.
Getting your feet wet by actually trading, and getting feedback through a journal, if you would like to, are basically the best ways to go....
Bob.
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Edit: Also, read other people's journals and the comments/feedback they get. They have all the same problems that you do, and that we all do. Seeing how others deal with them is a very good way to improve.
To add another important thing: you can use the recommendations here on the forum, as well as the warnings of other members of the bad ones.
Many of the major vendors have gotten their very own reviews in the reviews section. They haven't always had reason to be happy about it though....
As you read more posts, you will find the sources of information that are well thought-of, usually with a discussion of pros and cons that will let you see both sides and judge for yourself.
It's a fx based course . https://theforexguy.com/
He's up front about a lot of things and there's 20 chapters of info (I think)
He's also always making new tools for mt4/5 an the chat room use to be decent I haven't logged in , in close to two years so it could be slightly different.
It's very beginner based, honestly all the info is online but he does a good job putting it in one spot and he actually responds and helps a lot through the chat room and all the video he does. He's very up front about telling you he's not here to help you pick trades
I use to keep his course printed out next to my computer.
Calming, I can tell you have given much thought to what you have written. After all of the dust settled for me, one thing about trading stood as 'king of the hill'. That thing is "price action", pure and simple. Al Brooks would tell us "Pick up a chart twenty years ago and compare to movement today". That movement expresses human nature at work. Learning to read the way human nature moves the market to me at least is of paramount importance. And it works 'most' of the time. Still I question some of my entries and exits. You will do the same ten years from now. I encourage you to check out some of Al Brooks recordings. Do not let his monotone voice sway you from the truth of what he is trying to convey - price action is a key to trading.
