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What programs have you bought? Confess


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What programs have you bought? Confess

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  #1 (permalink)
 longboat 
Philadelphia, Pa
 
Experience: Advanced
Platform: Sierra Charts
Broker: Amp/CQG
Trading: CL, ES
 
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Posts: 144 since Jun 2009
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I thought it would be interesting (if not sickening) to start a thread where futures.io (formerly BMT) members can name what trading software, programs, methodologies, products, e-books etc. they have bought over the years.
Our friend Bobby started a thread about 10k spent on education and not profitable. that I thought was interesting. I think I spent over 10k. with the products that I list below.
I don't want this to turn into anyone recommending any product and I know Mike doesn't either so please respect this wish. It is too easy for someone to join and plug a product. If somebody absolutely wants to know experiences about a certain product or the experience a poster may have had, I suggest they private message the poster and it is up to that member if they want to respond. Don't be upset if they don't.
Trading methods I believe are user specific. A few of the these products are successful but just not for me. The stops were too big, the draw down too big or the risk reward too small etc. Find out what targets, stops and draw down you are comfortable and find one that fits. It won't work if you try to adapt to their parameters.
I will also say that I am not actively using any of the products below anymore. For new traders starting out I suggest that you save your capital and learn from some of the great traders that have shared their methods here on Big Mike's. I specifically want to thank Charles B, Wizard and Sharky. I think their methods are better than most products out there selling for thousands of dollars. Thanks for sharing guys!
There are pros and cons with all these and I have generally found something from some of them that has proven to be helpful, but not for the amount of money they charge! In the end it is price action. Study price action. Indicators are not the Holy grail. They lag and are usually good for confluence, that's all folks...........

Ok, in no specific order some are way more expensive than others and some I only spent 1 or 2 months in their trade room for a fee.

AbleSys
Boomerang
FuturesFx
NetPicks Ultimate Swing Trader
Puretick
TrendFund Will Scheier Futures Course
EminiTicks
EminiSniper
TradingStarPro
ChannelTrading
Emini Trading Solutions



Cheers
Longboat

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  #3 (permalink)
 cory 
the coin hunter
virginia
 
Experience: Intermediate
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TCI system by Tim Cho 6.5K, some forex trading system by Computrak 4K.

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  #4 (permalink)
 Big Mike 
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longboat View Post
I will also say that I am not actively using any of the products below anymore.

Worth repeating



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  #5 (permalink)
 Twiddle 
Sydney, Australia
 
Experience: Beginner
Platform: Ninjatrader
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Posts: 139 since May 2010
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Are you trading successfully now after all of that Longboat?

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  #6 (permalink)
 longboat 
Philadelphia, Pa
 
Experience: Advanced
Platform: Sierra Charts
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Twiddle View Post
Are you trading successfully now after all of that Longboat?

Oh yes, I found a method that I used for awhile trading divergence, but it wasn't any of the above programs. I must say now I am trading with Charles B's 6E thread and doing more consistent than my other method so I switched . Very pleased and profitable.

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  #7 (permalink)
 David_R 
San Jose, Ca
 
Experience: Beginner
Platform: Ninja
Broker: AMP/CQG
Trading: Something moving
 
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Posts: 1,517 since Nov 2009
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Oh boy, when I think about it I can't believe it.
Software:
Blue Wave (I think about $1500)
Hawkeye 3K
OFA $3500

Courses/Webinar/DVD
Nextbar Trading course $5000
Trade the markets DVD;s various
Trade the markets Webinars
Hawkeye seminar


I think that's it. I sure hope so.

David

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  #8 (permalink)
 cory 
the coin hunter
virginia
 
Experience: Intermediate
Platform: ninja
Trading: NQ
 
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David_R View Post
Oh boy, when I think about it I can't believe it.
..
OFA $3500

...

I think that's it. I sure hope so.

David

even OFA?

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  #9 (permalink)
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
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lol - confession time....

Here are my past sins...

DayTrade2Win - losing system with fudged results on his web page
Super ADX - pretty but irrelevant
Mechanical Day Trader - err - this guy was convincing but turned out he was a fruitcake

At this point, I decided that I'd pay $0 without a reference and some evidence that actual trading was happening. A number of vendors could not do that for me but provided a lot of reasons why not. I also decided to not use traditional TA or indicators as it was obvious both were useless by this point.

Richard Joyson AKA Mr Charts on T2W - very good stuff & am still using his techniques
Joel Parker AKA PriceActionRoom - more on Tape reading after Mr Charts introduced me to it still using the techniques
Brian Hoffman - very interesting theories on market structure - still figuring out how to incorporate this right now but Brian is a full time trader

I am also in touch with a few other full time traders but the techniques they use are so far removed from what I do that on the trading side there's not much to gain from quizzing them on their techniques. Still I keep in touch with them as well as the 3 traders mentioned above because they inspire me and it's always good to be in touch with people that are full time.

In particular, things I have picked up by being in touch with people that are full time are things that they spot that make a small difference. For example one of my friends recently told me about 2 markets that had started to move in synch and how he thought that would play out. It's little tidbits like this that you might miss if you aren't in touch with people.

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  #10 (permalink)
 David_R 
San Jose, Ca
 
Experience: Beginner
Platform: Ninja
Broker: AMP/CQG
Trading: Something moving
 
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cory View Post
even OFA?



Yes, OFA (orderflow analytics)

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  #11 (permalink)
 renek 
Kastrup
 
Experience: Intermediate
Platform: NJ
Trading: SPY
 
Posts: 10 since May 2011
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David_R View Post
Oh boy, when I think about it I can't believe it.
Software:
Blue Wave (I think about $1500)
Hawkeye 3K
OFA $3500

Courses/Webinar/DVD
Nextbar Trading course $5000
Trade the markets DVD;s various
Trade the markets Webinars
Hawkeye seminar


I think that's it. I sure hope so.

David

David. What are your thoughts an all these programs, DVD's etc. Worth anything?

This is a very interesting thread indeed. I still have not come around to pile money into expensive programmes, but oh buy I have felt the urge...especially during draw downs.

I am mostly interested in Trade Guider, but have heard on Elite Traders that the signals are bogus (they magically show up after the fact or change). This is an uncomfirmed rumor though from my side.

I have mostly spend money on newsletters (they are quite cheap) and they are not worth the money. So far the best deals have been The Kirk Report (tons of resources) and this site (tons & tons of resources).

I subscribed to All About Trends for a while an actually did a review of their performance on my site (you can watch it if you magically happen to understand danish). They have af win ratio of 76% on long trades (on 205 trades), but have huge draw downs. That is not for me.

I also subscribed to Morpheus Trading which have lousy performance. If anyone is interested I can post performance charts on the services in this thread.

Also subscribed to TheUptrend (Canada based) which was bogus. He changed signals after the fact...

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  #12 (permalink)
 esscalper 
UK
 
Experience: Advanced
Platform: NT & CQG
Broker: zen-fire
Trading: ES 6E 6B
 
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over last 10 years lost count lol, books somewhere in the region of 150+, did a few tutition courses etc about another $10k, anything I tried didn't work, emini-master, zoo trading to name a few.

Then after removing everything from my charts about 4 years ago I started from scratch, yes I have a couple of standard indicators on but I probably don't use them the way they are taught its just for general trend confirmation, mainly use support and resistance and momentum off price action and reading the tape.

I can pick 10-20 pips at will on currencies, so happy with that, unless you create your own method you are just following someone else's ideas and you will never truly know what is happening.....

Regards
esscalper

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 traderwerks 
Taipei Taiwan
 
Experience: Advanced
Platform: NinjaTrader
Broker: AMP Clearing
Trading: TW
 
Posts: 693 since Jun 2009
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I bought Al Brooks book.

That is all I have ever bought, and it was worth it.

I hope his next books are written in English

Math. A gateway drug to reality.
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  #14 (permalink)
 Eric j 
NY
 
Experience: Advanced
Platform: Esignal, MBT navigator
Trading: Currencies
 
Posts: 2,526 since Jun 2009
Thanks: 1,396 given, 2,576 received

Trading room - Felton trading $3500 .

Books - Dozens $1500 , I have them on my shelves and cant believe I bought some of them .

Like @longboat I gravitated towards PA and a healthy dose of self awareness is what I needed to be profitable .

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  #15 (permalink)
 Deucalion 
Calgary, Canada
 
Experience: Intermediate
Platform: Multiple
Broker: Multiple
Trading: Multiple
 
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Posts: 430 since Aug 2009

Pretty much everything out there - Flux, Ablesys, Emini Watch, Protrader Online, Jouflas, Uncle Mike's, MTP, Jurik, Blue Wave, a bunch of rooms etc etc (well in excess of 20K).

Did I learn anything? Yes, that I was a sucker. And that losing my shirt trading despite all those systems and methods was the best teacher of them all. It was a expensive lesson, one that almost brought me to bankruptcy. Almost!

Not one of the courses is worth recommending, including MTP which affected my trading style the most. Nothing comes close to convey the pain caused by not understanding fear, greed and the danger of not realising how inportant risk control is to your well being.

Lot of good books out there, but other peoples words failed to convey the depth of the message until I underwent it myself. At that point, no system was needed anyway.

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  #16 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
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Posts: 50,030 since Jun 2009
Thanks: 32,487 given, 98,349 received

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  #17 (permalink)
 taylor 
Australia
 
Experience: Beginner
Platform: NinjaTrader V7
Broker: Mirus/ Zenfire
Trading: The One Between My Ears
 
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Traders International, daytradetowin and pulselinetrader. TI indtroduced me to trading, but went downhill from there. Daytradetowin, like everyone else, does not provide real results, and pulselinetrader (now defunct) was too cluttered for me to work out what was going on. I still have the indicators from the latter (the guy disable authoring code so it can be used on any machine).

I'm now slowly trying figure out what to do with all the free stuff out there and put together my own method (I'm still a big fan of divergence, being that's all I know).

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  #18 (permalink)
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
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Mike

Sticky???

Oh, the shame.... I thought a few hail Marys & we'd be done.

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  #19 (permalink)
 mengelbrecht 
copenhagen, denmark
 
Experience: Intermediate
Platform: multicharts, Ninja
Broker: IB & Kinetick
Trading: ES
 
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DionysusToast View Post
Sticky???

Oh, the shame.... I thought a few hail Marys & we'd be done.

Hi
Like everybody else I spend a zillion dollars on books, trading semimars, trading rooms , etc - even bought esignal advanced GET. I fucked up one account

What really kicked me off into succesfull trading was:
* This site futures.io (formerly BMT)
* Learning easylanguage
* Endless experimentation and sim trading until I figured what works and what doesnt work .

rgds
michael

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  #20 (permalink)
 Jaguar52 
NY + NY/USA
 
Experience: Advanced
Platform: Ninja
Broker: Optimus Futures- Rithmic
Trading: CL, 6E
 
Posts: 236 since Nov 2009
Thanks: 11 given, 1,270 received

List of software and trade rooms:
Nexgen T3 Pro Fib Trader
Futures Trader Secrets
Universal Market Trader
Netpicks
Tsunami Trading
Pulseline
Traders International
Trade The Market
Decision Bar
Trade Angle Strategies
BuySellGetOut
Puretick
EOT
Rythym of the Markets
AbleTrend
The Trading Zone
Blue Wave
Your Trading Room

I am one of those who took a long time to get things right. It was a return to basics - went full circle. Now I use my own programmed indicators and auto trader. Charts have been the same for about 4 years now. Pretty simple - just change the colors when I get the bug.

My trading book list is longer!

Don't even get me started on the number of blown accounts at $10k a pop..... more than 3 but less than 7! and a couple of them not my own, but for friends.... yikes!

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  #21 (permalink)
 sysot1t 
 
 
Posts: 1,176 since Nov 2009


David_R View Post
Yes, OFA (orderflow analytics)

what was so bad about OFA program?

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  #22 (permalink)
 sysot1t 
 
 
Posts: 1,176 since Nov 2009

Total Expense, no idea.. first time I am adding it up I guess...

Programs
- NinjaTrader ($1500)
- Multicharts ($3000 - two licenses, one dev and one prod)
- RightEdge 2010 ($700)
- ATrader ($300)
- Hoadley Tols (~$200, very useful)
- PairTradeFinder (~$700, somewhat useful)

Indicators/Strategies
- Jurik (TS and NT7) ($800,Useful)
- EminiWatch ($500,Useful)
- Currensys ($1000, Useful)
- EminiShark ($1000, Useful)
- EOTPro ($1000, waste of time)

Training
- Tape Reading Room ($3000, somewhat useful)
- Fulcrum Trader ($1000, somewhat useful)
- Field of Vision ($750, useful)

Books
- overall, less than $1000... most I can find in 4shared.com

On-going Subs
- IQFeed ~$200
- GRI ~$200

Misc Stuff (forums, etc)
- $1000 overall, less actually.

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  #23 (permalink)
 David_R 
San Jose, Ca
 
Experience: Beginner
Platform: Ninja
Broker: AMP/CQG
Trading: Something moving
 
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Posts: 1,517 since Nov 2009
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I think it all falls into the category of education, but they main thing with all these programs is that we (I) buy them think they are what will make me a successful trader. I have no complaints about any of the programs I bought. The only one I think was not worth is was the nextbartrading course. His stuff is just taken from VSA. His videos on youtube are what sold me. I really wanted to know how the hell he did it. Well, its really is the person and not the method.

I actually forgot a couple things I spent money on. The one that really had value for me was the Gary Dayton Chart reading course. No software or DVDs. Just a course on how to read a chart with Wyckoff principles.

David


rkhanen View Post
David. What are your thoughts an all these programs, DVD's etc. Worth anything?

This is a very interesting thread indeed. I still have not come around to pile money into expensive programmes, but oh buy I have felt the urge...especially during draw downs.

I am mostly interested in Trade Guider, but have heard on Elite Traders that the signals are bogus (they magically show up after the fact or change). This is an uncomfirmed rumor though from my side.

I have mostly spend money on newsletters (they are quite cheap) and they are not worth the money. So far the best deals have been The Kirk Report (tons of resources) and this site (tons & tons of resources).

I subscribed to All About Trends for a while an actually did a review of their performance on my site (you can watch it if you magically happen to understand danish). They have af win ratio of 76% on long trades (on 205 trades), but have huge draw downs. That is not for me.

I also subscribed to Morpheus Trading which have lousy performance. If anyone is interested I can post performance charts on the services in this thread.

Also subscribed to TheUptrend (Canada based) which was bogus. He changed signals after the fact...


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 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,135 since Jul 2011
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More of an MT4 system sucker before I came here.

The following were a waste of time:

Dynamic Trader v4 $2k (old scam. NT7 can do all it can do easy with free indicators)
Forex Godfather $97(refunded)
LMT Forex Formula $97
Forex Crescendo $97 (refunded)
Top Dog Trading courses, Barry Burns $400+
Forex Rebellion $97
Timothy Sykes Penny Stock Millionaire $2k (refunded, after much hassle)
Tripletrend.com $200 (hiding/changing losers, inserting after-the-fact winners in public performance "records")
Triplestrike.com $97
Traders-secret-library.com $500, 1 yr membership. (the same 7 people keep posting , rarely... only like 1 or 2 of the winning
surefire trading contest winners didn't have a massive drawdown %, most articles from other vendors' free stuff. webinars by staff only a few hours long, and not enough covered or taught to be consistent.)
Quantified Stock Market Trading Strategies & Systems - TradingMarkets.com "powerratings" $99 x 3 months (cancelled, ratings not 80%, more like 50% i.e. throw a dart blindfolded , kept getting ads for "the machine", $3k to use or something)
"traders secret code" Day Trading System $97
Home - Jon Markman's Trader's Advantage by Jon Markman $99 x 2 months (cancelled. very bad losers, single option calls and puts. I don't even think Markman himself chose those trades. Some kind of crap shop hired to make the signal newsletter/website; kept fudging or hiding losers in public performance "records". After this, leery of CNBC, FOX "celebrities"' services i.e. Maria Bartolomo, Larry Levin etc. )
Various trading books, some used/old $200

Somewhat useful:

Wattstrading.com $67
Lindencourt FX $150
Trade What you See, by Pensavento, Jouflas $40

Useful:
www.optionincomevideos.com $197 +$60 (bonus videos)
Reading Price Charts Bar by Bar , Al Brooks $60
Brooks trading room $99x2months ( stopped, got all the archive videos for those months. enough to rewatch his
reasoning as Al Brooks doesn't call out trades anyways, room mainly for education)

Just started:
Emini-Watch.com $400 (I like the "better" indicators suite so far. What's so bad about it?)
Ninjatrader 7, 3months start $288
The Complete Guide to Option Selling by Cordier, Gross $25

Never went to any paid seminars or other trading rooms except Brooks for 2 months. CJBooths 6E trading room I'm
glad I stumbled upon. Bobbyaicm saying it's the best room he's been in. And others mention his room better than most paid rooms out there.

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  #25 (permalink)
 David_R 
San Jose, Ca
 
Experience: Beginner
Platform: Ninja
Broker: AMP/CQG
Trading: Something moving
 
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sysot1t View Post
what was so bad about OFA program?


there is nothing wrong with the OFA program. As a matter of fact it is probably very good. I think it all comes down to the person or the user though. I do think they charge too much just like most vendors. Selling the dream calls for a big price tag and that's what they bank on.

Key to successful trading:

1. get your mind right 90%

2. method 10%

the 90/10 may be a bit out of balance, but I firmly believe that having the mind in order will make any method better. I struggle every day with the mental aspects of trading.

David

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  #26 (permalink)
 furytrader 
Chicago, IL USA
 
Experience: Intermediate
Platform: MultiCharts + CTS T4
Broker: Advantage Futures, IQFeed.net
Trading: YM, ES, EU, US, S
 
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Posts: 153 since Jun 2011
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Software Programs:

OmniTrader (several hundred dollars - end of day edition) - got discouraged when losing signals would magically disappear and be replaced with winning signals each time you retrained the software.

Michael Harris's Pattern Finder (no longer available but cost $1000) - basically data mining for patterns. I've developed better stuff on my own since then, although I'm not sure whether machine-directed searches for market patterns has any long-term validity, as the risk of curve-fitting is high.

A couple of years ago, I bought some trader psychology software by Denise Shull for about $1,400. I went through it once and found it to be marginally helpful at the time, but I don't rely on any of her insights anymore. I would not recommend it.

Market System Analyzer by Michael Bryant - this is a good program (and reasonably priced) - if you want to test a particular model for whether it would benefit from dependency rules (that is, whether winners are followed by winners, etc.), equity curve trading, and different trade sizing methodologies. I would recommend it.

MultiCharts - one license for $1,400 - definitely worth it. Great program.

I am probably leaving something out but those are the big ones.

Books:

Gosh, too many to mention! Probably $3,000 - $5,000 in total. Not many were actually good.

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  #27 (permalink)
 zer0 
Chicago, IL/USA
 
Experience: Advanced
Platform: CTS T4/Sierra Chart
Trading: Futures
 
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Posts: 139 since Jun 2011
Thanks: 49 given, 191 received

I'm happy to say that I have never spent a dime purchasing trading software of any kind. That is, unless you count Microsoft Excel. I do have to pay monthly fees for a platform however...

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  #28 (permalink)
 GT22 
Currently Inactive
 
 
Posts: 25 since Aug 2011

I purchased Tradestation 2000i for $2,400 shortly after it was released.

Used it for about 9 months, did the annual license update once, then threw it back into the box. Ouch!

I would probably like some of the new products if they have walk forward testing so that I can see the system entries/exits on the charts in multiple timeframes. That is what I really want out of a backtest.

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  #29 (permalink)
 harvester 
Houston, Texas USA
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts, TradeStation, NeuroShell, AmiBroker
Broker: Interactive Brokers, TradeStation, DTN/IQ
Trading: TF, EMD, NQ, CL
 
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Posts: 30 since Mar 2011
Thanks: 12 given, 89 received

I really don't know where to start except at the beginning (this is almost embarrasing to recount)...

Online Trading Acadamy (2002 version) - free (borrowed from friend) - fairly useful at the time
TradeStation Easy Language Boot Camp - $1500 (including all expenses to Florida) - Very useful
John Carter - $1200 - Indicators/Training CDs - Useful info at the time, don't use the indicators anymore
Hawkeye Gold Package - $3700 - decent/basic indicators, but don't use them anymore
Hawkeye Training Cruise - $2500 - Great trip, learned things that I still use today, very good time with Nigel
Artemis for MetaTrader - $900 - Made all $900 back and more, stopped using after they stopped optimizing
Hawkeye for eSignal - Free - wasn't any better with eSignal
TradersExpo (3 trips) - $2500 (in travel expenses) - Prefer to surf websites now, and avoid the TSA searches...
NeuroShell DayTrader Pro - $3700 - The best optimizer/WFO around, use it for uncommon indicators almost daily
Chaos Hunter - $1200 - Very advanced tool, but haven't devoted much time with it yet
NeuroShell Advanced Seminar - $3000 (course+expenses) - Quite informative, much of the material made more sense two years after hearing it.
NeoTicker - $1100 - Very interesting capabilities, but don't care for the user interface or support/user group
AmiBroker64 - $300 - Probably just as powerful as NeoTicker, just haven't had time to explore all the features
Custom TradeStation strategies and indicators - $3000 - still use some of them daily
MetaTrader custom EA's - Free (I created them) - Use them from time to time, not too crazy about MT4
NinjaTrader7 - Free (with PFG) - The best platform I have - use it every day.
Novy Training w/NeoTicker - $4000 - 5 month interactive course that helped change my trading habits
SuriNotes ABC - $800 - This is very handy in the TradeStation platform, with RadarScreen on long term trades
SuriNotes CMI - $600 - A bit disappointed with this one - other things for free do better
NoxaPredict for NeuroShell - $500 - spent a year with this indie, I'm starting to learn them finally!
Bowfort ZeroLag/Wave for NeuroShell - $600 - These rival Jurik and are great in NeuroShell
Jurik for TradeStation - $600 - One of my main indicator sets - use them daily on Forex (JMA and CFB)
EminiScalp - $900 - a complete unbelievable ripoff and waste of money - cannot forgive myself on this one
EminiWatch Better Indicators - $600 - Very well done, love listening to the regular videos
EminiMethods for Sierra Charts - $1100 - I really liked reading through this material and using Sierra, but re-wrote these (myself) into TradeStation
Zunaa - $3800 - VWAP, DPOC, and other interesting goodies. Use the VWAP/StdDev constantly!

Books: I have about 50-60 books/kindle - Amazon loves me!

I've had TASC for years, and read through almost every article, and use some of the free indicators

Should mention that I bought RSKSys for $5000, but promptly got a refund - complete disappointment!

Not sure I feel any better now, but I suppose that was my tuition into this business. Even from the failures and ripoffs, there was something to be learned. Amazingly, I'm finding extremely simple systems (daily forex with a 30 SMA for example) to be profitable on long term trades.

-Harvester

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  #30 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
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Posts: 9,855 since Mar 2010
Thanks: 4,238 given, 26,746 received

I am quite impressed how many software programs exist that I have never heard of.

I have evaluated some software packages without purchasing (Amibroker, MultiCharts, MetaTrader, VisualChart, ProRealTime, ButtonTrader, Bracket Trader and others), but there have been few packages for which I have actually spent money.
This is what I have paid for

- annual subscription for Quotetracker, until 2007 ($ 60)
- license for NinjaTrader ($ 995)
- membership for Big Mike's Trading Forum

The last investment had the highest returns.

I am fond of reading trading books and books on economy, and I am a subscriber to the Financial Times, TASC (Technical Analysis of Stocks and Commodities) and Active Trader. I admit that I have spent about $ 3500 on books related to trading, finance, economics, econophysics, statistics and game theory. Amazon loves me, and I do not regret the money spent. I would purchase about 75% of those books again, about 25% were a waste of money.

Software is not an answer to trading questions, it is just a tool. In an orchestra you cannot play different instruments at the same time (I am playing music). Mastering one instrument requires to focus on that instrument. Mastering one software package already takes a lot of time, and that is the reason that I have not yet engaged in playing around with another one. I plan to get a license for MultiCharts though, not because I believe that it is better, but because it is an alternative and may reduce my dependency on NinjaTrader. I don't want to stand on one leg forever.

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  #31 (permalink)
 musuk 
uk, london
 
Experience: Beginner
Platform: Multicharts
Trading: forex
 
Posts: 28 since Sep 2011
Thanks: 6 given, 2 received

wow i wish i know what did u all guys do beforestart tradingas one thing i know if i create a software or an indicatorand its profitable i would want to keep it for me and if am a nice guy i would give it for freeeebut if its not profitable i would sale it. ether way am gona make money

its funny how much money spend on
indicator's or trading rooms.
as for me
i just bought
multicharts and thats it and will never ever spend money on trading room or any
indicatori rather go and burn the money insteadof give it to these kind of people.

books i think around £300 and they all good.
futures.io (formerly BMT) $50 its
amazing how much u can learn from here
and a good PC with nice screen.

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  #32 (permalink)
 gonzofist 
PORTLAND, OR
 
Experience: None
Platform: NinjaTrader
Trading: Futures
 
Posts: 185 since Jul 2011
Thanks: 74 given, 167 received

Elite membership to bigmiketrading.com - $25

Taught me not to buy all the aforementioned stuff.

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  #33 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,135 since Jul 2011
Thanks: 2,388 given, 1,727 received

It's called "taking one for the team". Those of us who warned everyone else and/or reviewed vendor products truthfully have helped people save money and done them a favor. It's also some small revenge from being scammed for years by all those promises from scumbag vendors who know they are selling junk that could be costly to the aspiring trader and does not help their trading progress and education, actually hurts it by making newbies dependent on magic indicators instead of learning more about price action, trading psychology, and other aspects of the market such as volume and volatility, supply and demand, etc.

futures.io (formerly BMT) is unique from other forums in that vendor members have to id themselves as a vendor, thanks to Big Mike's moderation. Most other forums are deluged with fake traders and shills' posts who say they are consistently or abundantly profitable and then point you in the direction of vendor page signups and trading products. Or if there's a thread of reviews, it will also be filled with shills' glowing reviews to mask the truthful client ones. Not saying all the products are snake oil. There are a few gems discovered after "kissing a lot of frogs" as CJBooth says.

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  #34 (permalink)
 shodson 
Quantoholic
OC, California, USA
 
Experience: Advanced
Platform: IB/TWS, NinjaTrader, ToS
Broker: IB, ToS, Kinetick
Trading: stocks, options, futures, VIX
 
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Posts: 1,962 since Jun 2009
Thanks: 529 given, 3,655 received

Training/Courseware
- Optionetics 3-day introduction to options trading course (about $2,500, waste of money, go to OIC instead for free)

Software/Data
- Ninjatrader (1 quarter rental then a lifetime license) (250 + 1,000)
- Tradestation 8.x for a couple of months ($100/mo)
- ProfitSource (from Optionetics, $500, returned, got my money back)
- EODData (several years of historical stock/futures prices)

Indicators/Systems Purchases or Subscriptions
- Logical Forex for a few months
- NetPicks ($500, returned, got my money back)
- EOTPro for a few months, $233/mo

Books/Periodicals
- TAS&C (still current)
- ActiveTrader (still current)
- IBD
- WSJ
- dozens of books, paper, audio + Kindle

Trade Rooms/Services/Site Subscription
- MasterTheGap.com (still current)
- TradeTheMarkets.com for a few months, about $110+/mo
- ChartPattern.com (several months)
- VectorVest (1mo)
- GorillaTrades (1-2mos)
- futures.io (formerly BMT) Elite (priceless)

Shows
- TradersExpo (Pasadena, CA, once, free, 3 days)
- optionsXPO (San Diego, CA, free, 2 days)
- Various Meetups including the one I run

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  #35 (permalink)
Nasdin94
Singapore, Jurong West
 
 
Posts: 128 since Oct 2011
Thanks: 11 given, 112 received

Indicators
None.

Courses/Services
Tradethemarket.
LearnToTradeTheMarket Price Action Course
Nial Fuller's Price action Course
AsiaForexMentor Price action Course
QuantumFXPro - Price action Course/webinar/seminar
Dr Barry Burns - TopDogTrading.com Intermediate course


Well, That sums up my journey.

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  #36 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,135 since Jul 2011
Thanks: 2,388 given, 1,727 received


shodson View Post
Training/Courseware
- Optionetics 3-day introduction to options trading course (about $2,500, waste of money, go to OIC instead for free)
- ProfitSource (from Optionetics, $500, returned, got my money back)

Sorry it was a waste, but thanks for mentioning them. I started to trade after I read one of Fontanills' first books "Trading Options online". They've been around since 2001 or so. And my first option trades were of course losers. I also attended one of those $100 webinars they hosted once or twice a year. and also bought $100 "technical analysis" cd by Fontanill's buddy Tom. Then I finally learned to read reviews on vendors on various forums and found out what a bunch of horse manure optionetics was all about. They just teach you what an option is for the most part of the $2.5k trading course culminating with a covered call with put protection. That's pretty much it, what everyone else already knows; then they try to keep one hooked on more "advanced" courses and future training programs all costing more even with the "discounts". Then their programs "profitsource" and "advanced get" i.e. trading the 4th wave when the MACD turns up. Then I read in their public forum folks complaining why advanced get wasn't working well and some other saying not a good "year" to trade those. That said, a couple of Fontanill's books are nicely written and teaches options for beginners, but that's all I'd recommend from optionetics otherwise it's hook after hook for more courses and programs.

Other free education and videos on options and spreads can be found at CBOE | Chicago Board Options Exchange

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  #37 (permalink)
Retro
Chicago, Illinois, USA
 
 
Posts: 20 since Oct 2011
Thanks: 0 given, 3 received

Wealth Lab 4.0 was a great buy (Fidelity sucks though), OpenQuant was a waste of time and money, NT7 is my favorite purchase and I might buy IQBroker if the price is right.

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  #38 (permalink)
 Massive l 
Legendary Market Wizard
Portland, OR
 
Experience: None
 
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Posts: 2,012 since Mar 2011
Thanks: 1,698 given, 4,191 received

I felt like supporting futures.io (formerly BMT) so last week I sent the site $50 and in return I received an Elite Membership
and all the goodies that come with that!

That's the first amount of money I've spent on anything trading related.

I've also spent around 3k in commissions over the past 2 years which has all been recouped.

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  #39 (permalink)
 caryn23 
Miami/FL/USA
 
Experience: Beginner
Platform: Ninja
Trading: FDAX,TF,EMD
 
Posts: 34 since Oct 2011
Thanks: 20 given, 40 received

Lem me see..

AbleSys for TS $6000/I dont use it any more

Convert Ablesys TS to NT 7.0 $1000/I dont use it anymore

Jurik for TS $600/I dont use it any more.

EOTpro $233/a month/I dont use it any more

Viper Pro $399/a month/I dont use it any more

Blue wave trading for NT 7.0:$4000 fully automated /Still use it for ES and TF.

futures.io (formerly BMT) (include tips from Sharky & The Wizard)$50 lifetime PRICELESS.

I wish i heared about futures.io (formerly BMT) along time ago,I would save alot of $$$$$$$$$$$$

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  #40 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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Posts: 1,644 since Feb 2011
Thanks: 9,220 given, 1,015 received

i bought a few things:

an awesome dvd set of step by step learning from the beginning to advanced stuffs on options. was like 180 bucks and it was when i first started trading and didnt know anything about options or trading at all.. i would recommend it to any new trader actually even if not interested in options..

i also got a beginners course with physical reading material as well as some videos on perfecting the art of credit spreads with options.. after going through the first course i mentioned above i didnt learn a whole lot of new stuff, but it was good specific information for options and credit spreads..

and the last thing was an indicator on fib lines that was researched from waves counts starting back in the early 2000s.. i still think they are kinda useful(dont use them much anymore) but after the random line theory thread i am always skeptical..

oh and i guess my investment into this forum! thanks big mike!

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
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  #41 (permalink)
 peakskill 
west greenwich, ri, usa
 
Experience: Intermediate
Platform: NinjaTrader
Broker: PFG Best
Trading: gbp/usd
 
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Posts: 31 since Oct 2010
Thanks: 52 given, 12 received

I have owned Metastock ProFx which I no longer use (about $2500 with data costs)

Trade now with Ninja which cost me $995 (data is free with PDF)

I have purchased indicators and even system and then when I became a futures.io (formerly BMT) member I realized that so many of what I bought or almost bought is already available here. Go figure.

I would guess I have spent $5-$6k. I wouldn't say its all wasted, but I sure could have saved a bunch knowing what I know now (I wonder what I will know later...)

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  #42 (permalink)
 BeachTrader 
San Diego
 
Experience: Beginner
Platform: NinjaTrader
Broker: AMP / CQG
Trading: CL, ES, NQ
 
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Posts: 310 since Nov 2011
Thanks: 153 given, 427 received

Long ago:
Wizetrade was the first <==== pretty embarrassing
Mel Raiman's Precision Trading System
Optionetics
MarketGauge Hotscans
Shogun Trading (day trade room)
Fibonacci Trader
Hawkeye (room only. got the indies free from another site)
Trading the Markets (room and indies)

More Recently:
Jason Stapleton's Forex Boot Camp
NinjaTrader
The Intentional Trader (room and indies)
OFA class (just purchased this week. have not purchased software yet)

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  #43 (permalink)
 sharky 
MIAMI,FL
 
Experience: Advanced
Platform: NinjaTrader
Broker: Private
Trading: Zn,6E,6J
 
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Posts: 1,060 since Jun 2009
Thanks: 624 given, 3,900 received

ok my turn lol,i wasnt born a trader i had to learn the hard way also

Net picks (junk)


Jurik (junk)

EOTpro (soso)

Blue wave (gave me some ideas)

Kellys indicators (junk)

Felton trading (gave me some good ideas)

Rjay (love the renko hybrid bars)

Schools, OTA. if you didnt know anything about trading then it is a good scool to learn the basics but you will pay 5 grand for a week,i think you could learn for free the same stuff off the internet.

learned from Sam Sieden
learned some from Richard from Move the markets
learned some from different guys at futures.io (formerly BMT)

learned the most from just watching pro's trade and asking alot of questions.

methods that have helped me the most, s/r,pa and learning to see trends and consolidation...sharky

oh i forgot another thing that taught me alot about market behaviour was spending hr's curve fitting indicators to my charts,it never made the indicators work right but taught my eye what to look for to make a good entry into a trade.

KILLING THE MARKETS DAILY
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  #44 (permalink)
 buzzsaw 
Leesburg, VA
 
Experience: Advanced
Platform: NinjaTrader
 
Posts: 80 since Aug 2010
Thanks: 77 given, 33 received


longboat View Post
I thought it would be interesting (if not sickening) to start a thread where futures.io (formerly BMT) members can name what trading software, programs, methodologies, products, e-books etc. they have bought over the years.
Our friend Bobby started a thread about 10k spent on education and not profitable. that I thought was interesting. I think I spent over 10k. with the products that I list below.
I don't want this to turn into anyone recommending any product and I know Mike doesn't either so please respect this wish. It is too easy for someone to join and plug a product. If somebody absolutely wants to know experiences about a certain product or the experience a poster may have had, I suggest they private message the poster and it is up to that member if they want to respond. Don't be upset if they don't.
Trading methods I believe are user specific. A few of the these products are successful but just not for me. The stops were too big, the draw down too big or the risk reward too small etc. Find out what targets, stops and draw down you are comfortable and find one that fits. It won't work if you try to adapt to their parameters.
I will also say that I am not actively using any of the products below anymore. For new traders starting out I suggest that you save your capital and learn from some of the great traders that have shared their methods here on Big Mike's. I specifically want to thank Charles B, Wizard and Sharky. I think their methods are better than most products out there selling for thousands of dollars. Thanks for sharing guys!
There are pros and cons with all these and I have generally found something from some of them that has proven to be helpful, but not for the amount of money they charge! In the end it is price action. Study price action. Indicators are not the Holy grail. They lag and are usually good for confluence, that's all folks...........

Ok, in no specific order some are way more expensive than others and some I only spent 1 or 2 months in their trade room for a fee.

AbleSys
Boomerang
FuturesFx
NetPicks Ultimate Swing Trader
Puretick
TrendFund Will Scheier Futures Course
EminiTicks
EminiSniper
TradingStarPro
ChannelTrading
Emini Trading Solutions



Cheers
Longboat


I too want to thank sharky and the wizard. Not familiar with Charles B. Can anyone provide a pointer?

Thanks!

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  #45 (permalink)
 Rad4633 
Greensboro NC
 
Experience: None
Platform: TOS/ NT Dorman
Trading: ES TF CL
 
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Posts: 1,352 since Sep 2011
Thanks: 2,651 given, 893 received

I have bought none, attended well know classroom 7 mths ago, you know where speaker yes speaker not trader tells you how and why you need this. I got tired of here him go on and on about stuff in real world conditions that wouldnt WORK. He kept on saying you have to be open minded to learn, I kept calling BS, So I stopped him told him if one of his classroom traders(speaker was the owner too how ironic is that!) would show me live Id sign up this was a $7500 class1 of 3 total =$22500....He declined. Also I pissed him off because I ran a quick PNL on him just to prove his business model wasnt trading it was teaching.too funny

I did read my first book ever, it was on trading dont even remember the name of it.

So I paid all my money to the School of Hard Knocks and the market showed me its moves, I have learned from so many threads and applied to what the market had shown me. Im still learning to improve my style. Now!!!!!!!!!!!!!!!!!!!!!!I WANT TO THANK EVERYONE HERE SO MUCH FOR ALL YOUR LITTLE SUGGESTIONS,SELECT COMMENTS, AND OVERALL HELP>>Thanks so much guys

Happy Holidays and Best Wishes
Richard

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  #46 (permalink)
 mmtrader4 
Chicago, IL
 
Experience: Advanced
Platform: NT7 Newest Version
Broker: Ninja
Trading: TF, NQ
 
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Posts: 33 since Mar 2010
Thanks: 37 given, 87 received

If I named all the programs and indicators I've bought or rooms I've been part of, I'd need my own page. So I'll just stop here and say, the only method you need is the one you adopt as your own.

BUT, you must be sure it works and follow it!

It was an expensive hard lesson to learn. Should have used all the money I spent instead for trading capital.

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  #47 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,135 since Jul 2011
Thanks: 2,388 given, 1,727 received


Rad4633 View Post
He kept on saying you have to be open minded to learn, I kept calling BS, So I stopped him told him if one of his classroom traders(speaker was the owner too how ironic is that!) would show me live Id sign up

Agreed. I've seen too much of the same pattern. The use of the "open minded" bait. Vendor spends too much time and effort promoting instead of actual trading if they do or did any successful trading ever. I would have more confidence in the vendor if there were student testimonials and proof and records of trading success, or evidence of a team member who does actual trading and not just aggressive sales in the vendor organization even though there's little to go on. A hedge fund or private equity firm trader would be the best mentor-educator, but they are actually trading and would rather trade my funds instead of selling education.

For example, one time I signed up with Preston James' website services based on his radio ad. His stock and option calls weren't any better than Cramer's. For every "winner" there were two or three major losers. then after a few months, almost every two months a different person kept calling me asking me if I wanted a "mentor service" $6k for the basic, and $10k for the "master" program. (which was nothing when I asked but a "program" with a lot of "homework" to do for the client, and maybe 4 weeks or so of "telephone" mentoring) At least 5 different people called me throughout the year. Even annoyingly called me at work hours. Now I think it's all a big telemarketing sales affiliate program. Luckily I had moved and changed my number. But I still get the idiotic emails ads as Preston tries to promote a young early 20's something "wizkid" options trader "Karson Keith" with his own new scam business. I even got one postcard. But I guess they couldn't afford sending me anymore snail mail and I was finally out of their reach.

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  #48 (permalink)
 longboat 
Philadelphia, Pa
 
Experience: Advanced
Platform: Sierra Charts
Broker: Amp/CQG
Trading: CL, ES
 
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Posts: 144 since Jun 2009
Thanks: 901 given, 214 received


buzzsaw View Post
I too want to thank sharky and the wizard. Not familiar with Charles B. Can anyone provide a pointer?

Thanks!

Charles requested the thread be closed but you can read his basic method before it gets diluted by others "trying" to improve it.
"My 6E trading Strategy"

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  #49 (permalink)
 Rahimseven 
Bangkok Thailand
 
Experience: Intermediate
Platform: MT4
Broker: FXCM
Trading: Forex
 
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Posts: 5 since Oct 2011
Thanks: 6 given, 4 received

Rockwell Trading
Joe Ross- Law of Charts
EminiJunkie.com
Eminiaddict.com
Joe Ross- Day trading Book
Joe Ross- Trading By The Book
Joe Ross- Trading Opture and Fusions
Joe Ross= Trading Spreads and Seasonals
FAP Turbo
fxalertpro.com
realtimefutures.com
Tradingeducators.com-Traders Notebook
Tradingeducators.com- Ambush trade method
Ken Calhoun and Steve Nison workshop

Over 100 books
Gann
Elder
Nison
wickoff
Ross

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  #50 (permalink)
 furytrader 
Chicago, IL USA
 
Experience: Intermediate
Platform: MultiCharts + CTS T4
Broker: Advantage Futures, IQFeed.net
Trading: YM, ES, EU, US, S
 
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Posts: 153 since Jun 2011
Thanks: 109 given, 146 received

Rahimseven,

What did you think of those books? What were most helpful to you?

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  #51 (permalink)
 Rahimseven 
Bangkok Thailand
 
Experience: Intermediate
Platform: MT4
Broker: FXCM
Trading: Forex
 
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Posts: 5 since Oct 2011
Thanks: 6 given, 4 received


furytrader View Post
Rahimseven,

What did you think of those books? What were most helpful to you?

Joe Ross books have been the most helpful although i've learned bits and peices from all. My favorite book is Day Trading by Joe Ross. Kinda pricey. Got mine on ebay.

Steve Nison books and videos are very valuble as well. He exlains things very well.

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  #52 (permalink)
 mmtrader4 
Chicago, IL
 
Experience: Advanced
Platform: NT7 Newest Version
Broker: Ninja
Trading: TF, NQ
 
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Posts: 33 since Mar 2010
Thanks: 37 given, 87 received

Reading this thread I realize I have been a vendor / methodology / indicator junkie. When I have a few minutes and you want a whole page taken up I'll list all the vendors / methods / indicator I've been a part of along with my take on them. (probably this weekend while I huddle in my tiny Chicagoland house and watch football)

I do not buy methods / indicators anymore AND, I've learned a great deal from many . . . there are some honest ones who DO want to see your success.

Also have been a part of those who took (take) great advantage of the "suckers born every minute"; and must walk around with mirrors everywhere to watch their backs. I could not live like that!

Regards and best wishes in trading.

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  #53 (permalink)
 fttrdr 
Lakeland
 
Experience: Beginner
Platform: NinjaTrader
Trading: TF
 
Posts: 53 since Sep 2011
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longboat View Post
I thought it would be interesting (if not sickening) to start a thread where futures.io (formerly BMT) members can name what trading software, programs, methodologies, products, e-books etc. they have bought over the years.
Our friend Bobby started a thread about 10k spent on education and not profitable. that I thought was interesting. I think I spent over 10k. with the products that I list below.
I don't want this to turn into anyone recommending any product and I know Mike doesn't either so please respect this wish. It is too easy for someone to join and plug a product. If somebody absolutely wants to know experiences about a certain product or the experience a poster may have had, I suggest they private message the poster and it is up to that member if they want to respond. Don't be upset if they don't.
Trading methods I believe are user specific. A few of the these products are successful but just not for me. The stops were too big, the draw down too big or the risk reward too small etc. Find out what targets, stops and draw down you are comfortable and find one that fits. It won't work if you try to adapt to their parameters.
I will also say that I am not actively using any of the products below anymore. For new traders starting out I suggest that you save your capital and learn from some of the great traders that have shared their methods here on Big Mike's. I specifically want to thank Charles B, Wizard and Sharky. I think their methods are better than most products out there selling for thousands of dollars. Thanks for sharing guys!
There are pros and cons with all these and I have generally found something from some of them that has proven to be helpful, but not for the amount of money they charge! In the end it is price action. Study price action. Indicators are not the Holy grail. They lag and are usually good for confluence, that's all folks...........

Ok, in no specific order some are way more expensive than others and some I only spent 1 or 2 months in their trade room for a fee.

AbleSys
Boomerang
FuturesFx
NetPicks Ultimate Swing Trader
Puretick
TrendFund Will Scheier Futures Course
EminiTicks
EminiSniper
TradingStarPro
ChannelTrading
Emini Trading Solutions



Cheers
Longboat

Longboat, what's your opinion on TrendFund Will Scheier Futures Course?

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  #54 (permalink)
 longboat 
Philadelphia, Pa
 
Experience: Advanced
Platform: Sierra Charts
Broker: Amp/CQG
Trading: CL, ES
 
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Posts: 144 since Jun 2009
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ftrdr,
My opinion of Will Scheier's course was excellent. It includes an excellent hardbound book " Pivots patterns and self recognition" too. Will is the most honest and genuine mentor I have ever met in this business. His method is very technical . You can take the course for life once you join. It is excellent and no indicators really. It focuses mostly on the Opening range and types of trading days to look for, Pennants, triangles, Waves and H/L Tick counts, but there is much more and it has been a few years since I used it.
Why don't I use it? It just fit my style of trading. Not to say it is not good, but a lot of it is fading strength or trading for exhaustion in counter trend moves inside a bigger trend. Exact entry prices are subjective.
I hope I answered at least answered what you wanted to know.
Good luck!
Longboat

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  #55 (permalink)
 CRM5096 
Harrisburg pa
 
Experience: Intermediate
Platform: Tasty
Broker: Tasty Works
Trading: YM
 
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Posts: 118 since Jun 2011
Thanks: 56 given, 37 received

"It is important to learn what other people have learned, but too many people have lived and died for me to learn more than a small fraction of what they have learned. There is a prodigious supply of information, facts, opinions, theories, suppositions, and doctrines, but the wisdom needed to sort through the mountain of trash in the hope of finding a gold nugget is not supplied."

-- Colin Low


The closest I have seen in the gold nuggets is what other Traders express here on Big Mikes forum

started my 5th year Oct 2011 in this Journey spent around 300 on books
1000.00 Ninja Platform
the best 1000.00 i spent was a month in a YM trading room only to find myself trading against my own trade set ups and loosing and then getting angry at myself for trading against myself it was at that point i discovered that I am my own trader and cannot trade like someone else . I need to connect with market the way I connect
I do gain wisdom from other traders but i make it my own
Everything you need to teach yourself to trade can be found on internet for free except Big Mikes best 50 bucks i have spent and most wisdom gained

There is a couple of traders that have websites and trade rooms i would highly recommend one uses a live custom scanner to trade stocks.

Nothing so Impressive as Simplicity
D.G. Watts
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  #56 (permalink)
 jodistrict 
san diego
 
Experience: Intermediate
Platform: FXCM MarketScope, NT, Interactive brokers, AMP
Broker: FXCM, Interactive Brokers
Trading: FOREX, IWM, SPY, XLE, NQ
 
Posts: 228 since Apr 2010
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I took EOTPRO for about a year. While I was taking it they would be changing their indicators and system every week. They claim to use a neural network that generates buy and sell signals. I didn't know anything about futures and started out naively trading with the moderator. I took the trades the moderator took and lost over a thousand dollars. He would take signals that were obviously in chop but took them because the arrows said too. What I learned from this is that you really have to learn how to trade and a neural network is just another gimmick that doesn't give you more accurate results. What's worse, you loose money and have no idea why and can't use the feedback to improve. Also, even though a moderator in a room says they are trading live, you really have no idea if they are telling you the truth, and you are putting your money on the line, and better know what are doing, and be able to rely on your own testing and skills, and not someone's word. Now I am learning to trade, however my previous experience has generated considerable fear that makes it hard for me to trade live.

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  #57 (permalink)
 ThatManFromTexas 
Houston,Tx
 
Experience: Advanced
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: TF
 
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Posts: 2,302 since Feb 2010
Thanks: 1,206 given, 4,337 received

I used Tradestation for many years before switching to NT. I don't really count that money because I figure ya need a chart and a way to enter trades .

When I started with Tradestation I didn't know Easy Language so I sought out a programmer. Unfortunately I found a very gifted programmer that could take whatever bull shit idea that I came up and build a working strategy with it in a short amount of time. When I say working, I mean it did exactly what I told him I wanted it to do... the only caveat ..... it lost money quicker a lonely guy in a strip club .

After a while the programmer would try to caution me against some of my more "brilliant" ideas ... which ticked me off, "...Hey..I'm paying for this ... do you want my money or not?". Then he would try to stall me , hoping I would have time to think about it and decide not to proceed. But I was on to him .... I would offer him extra $$ to move my project to the front of the line. This enabled me to lose money much quicker....

Finally he suggested that for a minimal fee he would teach me the basics of Easy Language, which he did. It was the happiest day of my life. The happiest day of his life was the day I told him I was switching to Ninja Trader ... which he didn't write code for....

When I was trying to learn "C" I couldn't find a NinjaTrader programmer to take my money ( I still think my TradeStation programmer called them...) and stumbled across futures.io (formerly BMT). Paid for elite access ... best decision ...EVAH....

@Fat Tails saved me a ton of money ... I would describe my latest Genius Indicator to him and he would explain to me in that Zen-Like manner of his .... " Dat is the stooopiest idea I have ever heard... " so I thought.... he's a great programmer... he's just trying to steal my bright idea... so I read every piece of code he wrote to catch him. I never caught him ... as it turned out..... it really was the stooopiest idea he had ever heard ... besides.... he had a family and a life... on the upside.... I learned a lot about how to write indicators for Ninja Trader

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #58 (permalink)
 jta3 
Copenhagen, Denmark
 
Experience: Advanced
Platform: Fib Fib and Fib.!
Trading: Setup
 
Posts: 300 since May 2011
Thanks: 55 given, 162 received

I have get a paid programmer to make some of the thing I want. I have put some of the wished here at BigMike but nothing happen. So I get what i want in a other way. And are satisfied with that.

My lates ideer is too compleks to make a description, so I take a breather until thing fits. My programmer say I could send some picture to explain. I will do that when time come. If my discription is near 100%, I will let it be done, probably as one of the last indicator i need. I hope.

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  #59 (permalink)
 joaobucks   is a Vendor
 
 
Posts: 37 since Jan 2010
Thanks: 11 given, 15 received

Very interesting discussion. My biggest nightmare were Dr Clayburg's Universal System. I spent money on several other systems and trading rooms, but also made enough money on forex robots to cover my losses. Anyone has a saying on the indicators offered by Ninjacators? I am posting here the free offer of their indicator of the month on this link if you wish to grab it, enter name and email on the site Ninjacators.com

Now I think indicators to prove themselves should be turned into strategy for backtesting purpose. The proof is in the pudding.

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  #60 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,135 since Jul 2011
Thanks: 2,388 given, 1,727 received

Nice that this thread is still going on. I should add some comments regarding one of vendors in the list posted by the OP. Netpicks. I lost over 1k with them. They claimed to have backtests done for the past year. Yet there would be days they lost over a hundred ticks being whiplashed multiple times. The moderator would be quiet while we sustained big losers. I would not be surprised they never traded live or even sim; who would be crazy enough to trade their system unless duped into doing so. I'm not even sure how many of us were real clients or there were the same three or four "members" in the room making comments. There should be a new definition of actor, "chat room member actor". Every month or so they keep coming out with new "products" and I continue to get spam email about their latest new system. They would show their net gain of a measly 40k or 50k, of course for last year, or the year before last and we were supposed to have patience the rest of the year. But that was it? just a measly 40k (a figure which I don't even believe now) after taking positions supposedly with multiple contracts in their multiple "trading plans" (where said trading plans used their auto signal entry program anyways no matter how dumb or whiplashed it got), in so many instruments and risking and sustaining big losses. More of an exercise in busybody work distracting from the fact one was being duped, and paying your broker daily commission salary..

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  #61 (permalink)
 Ironman9973 
New York
 
Experience: Intermediate
Platform: NinjaTrader, TradeNavigator
Broker: Optimus Futures
Trading: Piano
 
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Posts: 111 since Jul 2012
Thanks: 53 given, 58 received

14000 usd Joe Ross Trading course
500 usd all Joe Ross books
2000 usd other trading books
500 usd Larry Connors Systems and books

3000 usd Genesis TradeNavigator Platinum

1000 usd Ninjatrader lifetime

50 usd BigMike



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  #62 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
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Thanks: 32,487 given, 98,349 received


Ironman9973 View Post
14000 usd Joe Ross Trading course
500 usd all Joe Ross books
2000 usd other trading books
500 usd Larry Connors Systems and books

3000 usd Genesis TradeNavigator Platinum

1000 usd Ninjatrader lifetime

50 usd BigMike



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@Ironman9973, which ones were good, which ones were bad?

Mike

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  #63 (permalink)
 Ironman9973 
New York
 
Experience: Intermediate
Platform: NinjaTrader, TradeNavigator
Broker: Optimus Futures
Trading: Piano
 
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Posts: 111 since Jul 2012
Thanks: 53 given, 58 received

The expensive course for 14.000 usd was not necessary. But it was my beginning, and you have to start somewhere.Now I am sure there are cheaper ways.
I like the Joe Ross books, but it dont use it in my trading. It is not my style.
TradeNavigator, I still use it, I find it is a good software.
Same with Ninjatrader, it is good.
The books and systems from Connors are good, most of his setups and system are profitable.

I think in the hindsight it is not so easy to say something was helpfull and something not. I read around 300 books about trading and now in my trading I use nothing from these books. But I would not say it was a waste of time reading this books (most of them are not good), because somehow you have to get the knowledge.

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  #64 (permalink)
 Victory Trader 
LA, California, USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: CL,ES mainly
 
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Posts: 530 since Sep 2011

Wade Cook - I got his (options) system way back in the mid 90's... Blew a few accounts on it as well.... Met him one time at his building in Tacoma Wash... Well he ended up in prison Wade Cook gets 88 months in prison - seattlepi.com

I can say though he got me started in the career of trading...

A blast from the past - Wade Cook Dynamic Dollars Zero to Zillions - Wade Cook Dynamic Dollars Zero to Zillions - YouTube

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  #65 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,135 since Jul 2011
Thanks: 2,388 given, 1,727 received


Ironman9973 View Post
The books and systems from Connors are good, most of his setups and system are profitable.

This is the same Larry Connors who was the co-author of the old trading book "Street Smarts" with Linda Bradford Rashke which had old methods of using stochastics and RSI.

However, I found it surprising you found his setups and system profitable. (such as RSI(2); Congrats, if you were able to make it work for you. ) I had tried his "Powratings" newsletter stocks/ETF list and just lost money with it. And read reviews of others with the same experience. His site https://www.tradingmarkets.com/ continues to push "new products" such as the "machine" where one has to "rent time" on it along with spam ad email.

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  #66 (permalink)
 Ironman9973 
New York
 
Experience: Intermediate
Platform: NinjaTrader, TradeNavigator
Broker: Optimus Futures
Trading: Piano
 
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Posts: 111 since Jul 2012
Thanks: 53 given, 58 received

Yes this Larry Connors. Not all of his setups are working in the way he is presenting them. And I modified a lot. For example, I made good experiences with the RSI(2) in combination with spot forex on intraday.

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  #67 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
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Posts: 50,030 since Jun 2009
Thanks: 32,487 given, 98,349 received

And how do you rank the futures.io (formerly BMT) purchase?

Sent from my Transformer Prime TF201 using Tapatalk 2

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  #68 (permalink)
 Ironman9973 
New York
 
Experience: Intermediate
Platform: NinjaTrader, TradeNavigator
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Posts: 111 since Jul 2012
Thanks: 53 given, 58 received

Oh, I am sorry that I forgott my rating about futures.io (formerly BMT). The best forum for trading I found on the internet. I like most the webinars. And for 50 usd, it is a present.

Thank you Mike.

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  #69 (permalink)
 Big Mike 
Site Administrator
Swing Trader
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Manta, Ecuador
 
Experience: Advanced
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Thanks for your support

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  #70 (permalink)
 dstrader 
Chicago, USA
 
Experience: Advanced
Platform: TS, NT, TOS, SSE, IRT
Trading: ES, currency futures, options, stocks
 
Posts: 195 since Dec 2010
Thanks: 329 given, 273 received

Big Mike Trading forum was the best 50 bucks I spent on my entire life! Bar none! And I'm not trying to be nice to Mike or anything!

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  #71 (permalink)
 dandxg 
Denver, Colorado
 
Experience: Intermediate
Platform: Ninja Trader
Trading: ES, CL, anything that makes $$
 
Posts: 178 since Nov 2009
Thanks: 157 given, 76 received


Big Mike View Post
And how do you rank the futures.io (formerly BMT) purchase?

Sent from my Transformer Prime TF201 using Tapatalk 2

I rank that one really low, J/K Mike I love this site. In a cesspool your site is the gemstone.

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  #72 (permalink)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, ToS
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,135 since Jul 2011
Thanks: 2,388 given, 1,727 received

Elite membership at futures.io (formerly BMT)

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  #73 (permalink)
 wldman 
Market Wizard
Chicago Illinois USA
 
Experience: Advanced
Broker: IB, ToS
Trading: /ES, US Equities/Options
 
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Posts: 3,341 since Aug 2011
Thanks: 1,978 given, 8,856 received

bot an elite at futures.io (formerly BMT), but one time I bot a bag of snickers and ate the whole bag!

Other than that I spent a bunch of money once on an indicator package by a guy whom we can not mention on futures.io (formerly BMT) because he is a giant female reproductive organ. Now in the 21st century most things can be coded homestyle.

The author...NOT Mike!

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  #74 (permalink)
 dbarno 
Madison, Wi
 
Experience: Intermediate
Platform: Ninja Trader, Trade Navigator
Trading: CL,GC, HG
 
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Posts: 79 since Jul 2012
Thanks: 152 given, 76 received

Trading Advantage- didn't work for me
Shadow Traders- great, plugged up most holes in my system (biggest hole is between ears)

Trade Navigator- great, use it as a back up
Ninja- great primary
Trade Maven- unreliable crap

Judy Crawford from Zaner. Her newsletter (free) Used to position trade.

futures.io (formerly BMT)- best $50 spent yet

Smorgasbord of trading and psychology of trading books.

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  #75 (permalink)
bjulian
Greenville SC United States
 
 
Posts: 11 since Jul 2012
Thanks: 0 given, 8 received

TradingMarkets Swing Trading College
E Mini Daytrading Software

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  #76 (permalink)
 artemiso 
New York, NY
 
Experience: Beginner
Platform: Vanguard 401k
Broker: Yahoo Finance
Trading: Mutual funds
 
Posts: 1,129 since Jul 2012
Thanks: 765 given, 2,543 received

I think the only software that I bought this year is...

Diablo 3

Sold it after 1 week of playing for $10.

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  #77 (permalink)
 johanps68 
Malmo, Sweden
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP Futures/CQG
Trading: ES
 
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Posts: 23 since Aug 2012
Thanks: 57 given, 50 received

Time for a painful and embarrasing confession:
  • Vantagepoint
    Software for inter-market analysis and prediction on a daily basis. Didn't rhyme with my trading style at all.
  • VirginTrader from Elliottician
    (Trial subscription) Perfect waste of time - gave too many bad signals that had to be filtered visually.
  • Seven Summits Trader from NetPicks
    Indicator package for NinjaTrader - can make money when markets are volatile. (And lose during chop)
  • DecisionBar subscription
    Indicator package for NinjaTrader - not expensive, perhaps useful, but didn't do it for me...
  • Dick Diamond 4-day live seminar
    Interesting peek at how a veteran approaches the markets. Didn't really teach how to trade for real though.
  • Trading Advantage / Secrets of Traders online course
    Finally something that opened my eyes regarding how to view price development, and most importantly, what NOT to do.

Not to mention a few dozen books, and a long-standing subscription to Elliot Wave International's Financial Forecast service.

Note though that I have given up on Elliot as a means to making money in the markets - trying to predict where price is going gives you expectations, and they only serve to block your mental ability to see what the market *is* doing (especially when you are in a trade).

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  #78 (permalink)
 arnie 
Europe
 
Experience: Advanced
Platform: Jigsaw
Broker: Tradovate
Trading: Equities
 
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Posts: 824 since May 2010
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Scary thread this one

I started with Metastock and with a free EOD data from Yahoo and other places.
Then I got tired of free EOD data and subscribed eSignal.
I then bought QCollector, a perfect match for eSignal.

Books were flying by now. I'm another one that Amazon loved. I have a couple of boxes at the attic full of books that I have no idea why I spend money on.

Then I decided to daytrade. Upgraded my eSignal subscription to realtime and I was on...

A couple of years later, and a couple of $$$$$ less in the account a friend of mine introduced me to Multicharts.
It was love at first sigh. Best money spent!
With that came the need of indicators, custom made ones. Lost the $$$$ I've spent so far. Of all the weirdest ideas I had, I only use 4 now which I really could not trade without.

futures.io (formerly BMT) came next, IQFeed right after.
Used Sierra, still use IRT (till the end of the year).

I forgot, spent near $1000 on a WD Gann DVD course and a book. Have mix feelings regarding this

If I become half a percent smarter each year, I'll be a genius by the time I die
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  #79 (permalink)
 PaperTrader 
Malaysia
 
Experience: None
Platform: Free
 
Posts: 105 since Aug 2011
Thanks: 126 given, 21 received

Cyrox indicator for $xxxx and they stop the licence

Balance trader

Many other fake successful traders

Sent from my HTC One V using Tapatalk 2

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  #80 (permalink)
adaseb
Canada
 
 
Posts: 58 since Aug 2010
Thanks: 2 given, 32 received

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.



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.

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  #81 (permalink)
 BeachTrader 
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.



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)
 cory 
the coin hunter
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)
 BeachTrader 
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)
 Cloudy 
desert CA
 
Experience: Intermediate
Platform: NT7, SC, 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)
 dstrader 
Chicago, USA
 
Experience: Advanced
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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:
https://www.sec.gov/litigation/litreleases/2012/lr22354.htm

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  #86 (permalink)
 cory 
the coin hunter
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)
 Cloudy 
desert CA
 
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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)
 whatnext 
Rockland county , New York
 
Experience: Intermediate
Platform: NT 7
Trading: CL, 6E, SI, ZC
 
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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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maggtrading
quintana roo, méxico
 
 
Posts: 79 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)
 CH888 
Denver Colorado
 
Experience: Intermediate
Platform: Tradestation & MT4
Trading: ES, YM, Forex
 
Posts: 8 since Mar 2012
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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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  #91 (permalink)
 harvester 
Houston, Texas USA
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts, TradeStation, NeuroShell, AmiBroker
Broker: Interactive Brokers, TradeStation, DTN/IQ
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That's too bad to hear about Kent. I hope he recovers soon!

I've been using Zunaa indicators/strategies (as mentioned in an earlier post) for maybe 2-3 years now - and continue to do so. I'd have to say that everything they have produced is top notch, especially the Dynamic Point Of Control (DPOC).

I really enjoyed the extreme detail that Kent put into the training videos. Actually a bit overwhelming, but very much worth going through.

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  #92 (permalink)
 vajatin 
Chantilly, VA
 
Experience: Intermediate
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Hi, what was the name of the awesome DVD set? Thanks



madLyfe View Post
i bought a few things:

an awesome dvd set of step by step learning from the beginning to advanced stuffs on options. was like 180 bucks and it was when i first started trading and didnt know anything about options or trading at all.. i would recommend it to any new trader actually even if not interested in options..

i also got a beginners course with physical reading material as well as some videos on perfecting the art of credit spreads with options.. after going through the first course i mentioned above i didnt learn a whole lot of new stuff, but it was good specific information for options and credit spreads..

and the last thing was an indicator on fib lines that was researched from waves counts starting back in the early 2000s.. i still think they are kinda useful(dont use them much anymore) but after the random line theory thread i am always skeptical..

oh and i guess my investment into this forum! thanks big mike!


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 vajatin 
Chantilly, VA
 
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My Journey so far:

1) Stockbee - Wonderful site maintained by Pradeep Bonde. He offers free bootcamps once a year. The site has video's and chat room. He focuses on momentum trading for traders, 401K advice, and some advice for working people. The site has many experienced traders.

2) Kirk Report - Wonderful site. Provides lots of links, daily market analysis, weekend chart show is great, tons of links.

3) futures.io (formerly BMT) - I found a good one. I have only been active one day and have already discovered lots of ideas.

4) Wishing Wealth Blog - This is a free site maintained by Dr. Eric Wish that I follow regularly. Great advice for folks who cannot do day trading.

5) IBD meetups and news paper - Good resource for learning growth investing. I have met some wonderful people thru meetups.

-------------------------
I need help with Options education. I am going to review CBOE course curriculum.

I have evaluated options animal, Dan Passarelli's, Dan Sheridian, Options Fu, Option Pit. But I am not sure what program offers the best value.

Thanks

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 dominipip 
Naples, Fl
 
Experience: Intermediate
Platform: TOS, IB
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Hummmm, I bought IBD, then Vantage point software

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 dominipip 
Naples, Fl
 
Experience: Intermediate
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Still learning!

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  #96 (permalink)
 mmtrader4 
Chicago, IL
 
Experience: Advanced
Platform: NT7 Newest Version
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I started trading futures January 2009. Prior I traded stocks (buy and hold), mutual funds - both with success. Options I started out very successful got cocky and the bottom fell out due to my idiocy.

But onto programs bought for futures:
Waverider (got me started in futures for which I am thankful - but his method does not work for others),
UMT, Day Trade to Win, MCD, Stack Trade, Trendline Trader, Top Dog, Shadow Trader, Kwikpop, Puretick, and several more. Would have been better saving the money for trade capital! though I was a newbie searching for the "grail" as many do (and I am naive and like to believe people are for real) While searching for "the grail" I was in a presentation of a guy hawking his (as the overused phrase goes) "proprietary indicators". During his presentation at which he allowed everybody to see other's posts (noble of him but a mistake on his part, ha ha) I was able to create his charts exactly. Fortunately (or unfortunately) I knew so many indicators I recognized them and threw a chart together (btw all were freely available!) - then I called him out on it. In front of the crowd he admitted "well I never said ALL were proprietary - but it is a proprietary system that you need to PAY to understand how to apply the indicators". Cost $4500. I don't know how many he sold as I called him out and he booted me from the room. I also found out he has done business under more than one name. Just close one down and start another. So the moral to the story is:

I found futures.io (formerly BMT), it has all the indicators I need, I had to figure out MY personality as a trader not somebody else's; and use indicators which I fully understood the application of and took what I learned and created my own system - for me.

You can take other's advice here; but you have to trade who YOU are.

I don't know how else to say it.

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 dnkhoward2 
Dover, Fl
 
Experience: Intermediate
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Embarrassing stuff but true none the less.

I traded options for four years I switched to futures in Jan 2013.
I bought a lot of options training stuff from Big trends (Price Headley) probably around $3500 to 4k.
I bought the DTS Eagle and Falcon along with the Trade manager for around $3400 a while back looking for a good system to keep me in the trend longer but I never use it. The stops are too big for my taste. I use the trade manager though. That's pretty good.
I have been very interested in learning how to read order flow for a while and saw a guy online that looked like he had a handle on it pretty well so I signed up for his disgustingly too expensive course (School of trade) and it was not what was advertised. After on overpriced payment of 2k I stopped paying for his plagiarized stuff. he didn't teach on that at all. After that I swore off buying any more training or buying anything else.

I became a Big Mike's member and tweaked my system I have been using for a long time with the work of all the fine people here and that's all I need. But I have to say the Jigsaw trading stuff is pretty cool.

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  #98 (permalink)
 TheCount73 
NY, NY, USA
 
Experience: Beginner
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Posts: 1 since Sep 2012
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Hi all. I've been lurking for a long time, but this is my first time posting, as I haven't felt I've had anything to contribute.

I've been trading (attempting to trade) for a little over 2 1/2 years now. I've spent a ridiculous amount of money trying to find a system, strategy, or method that I feel comfortable with enough to have the confidence I need in it to trade profitable. I've taken probably close to 10k in classes (if I include traveling and lodging expenses) on two courses early on by a guy who essentially turned out to be a scammer (he went by the name Monk on line, real name Jerry Williams, his website is Monksden.com... the site is still there, but I think it's defunt as I'm pretty sure he got in big trouble with the SEC) to learn what was essentially some very basic MA cross/MACD systems. Looking back at how naive I was in the beginning, this was a massive waste of capital.

I've since spent probably a couple grand (probably more but I've gotten my money back on occasion) on various lessons and strategies (including Dalton's "Field of Vision" which was something like $900, and which I also found pretty useless at the end of the day... nothing you really can't find online). I now belong to FT71's brokerage, and have learned a great deal from him... he's a treasure trove of information, especially on the mental side of things. However, I have trouble really grasping how to make Volume Profile work for me.

Another thing I've found helpful, though still haven't exactly been able to work, is basic price action. I purchased Mac's manual from PriceActionTradingSystem.com, which is only like $90 or something, and that along with his daily free youtube videos have been very informative (I also read the bulk of Al Brooks 3 volume bohemouth). I feel very comfortable with Price Action, because I hate and do not trust indicators, but I still can't seem to be profitable.

I did have a breakthrough recently when I did an experiment: I picked a random entry system based on a basic signal from some indicator thing I bought, and just want to take it 10 trades at a time to see if I could finally stick with a set up and take it exactly as planned every day. I had a set of rules, a 2:1 risk reward, and a money management system in place (2 losses and I'd stop, 1 winner and I'd stop). I did this for two straight months and was finally profitable for the first time over that time with a little over a 50% win rate. However, knowing this was an experiment, I back tested what I was doing and found that I had hit a lucky patch to try this out, and if I had traded it for the full year, I'd be a little over break even at best. And yes, I did this live.

So... while that was a huge breakthrough on the mental side... finally knowing I had gotten to the level where I can take a setup and let it play out, (ot over trade, etc) I still find myself incredibly frustrated at not being able to find something I am comfortable and confident in to utilize those mental breakthroughs in a way that I can become consistently profitable. I'm a bit lost and not sure where to turn at this point, but I'm still pushing on. I've gone back to basic price action, and am completely back to SIM again (I've lost 10s of thousands over the past 2 1/2 years, so I'm trying to be very, very careful at this point), but I'm not quite sure how where to take it from here.

....heh.... that was a bit more than what was asked for, but that's my story.


.... oh, and I started on ETFs, but now trade futures... preferably TF and YM....

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  #99 (permalink)
 madLyfe 
Des Moines, Iowa
 
Experience: None
Platform: Ninja, TOS
Broker: AMP/CQG, TOS
Trading: CL, TF, GC
 
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vajatin View Post
Hi, what was the name of the awesome DVD set? Thanks

i think i purchased the dvd set from Options Made Easy: Your Video Guide to Trading as a Business

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
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 vajatin 
Chantilly, VA
 
Experience: Intermediate
Platform: TC2000
Trading: Stocks, Options
 
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Posts: 4 since Jun 2013
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madLyfe View Post

Thanks, I noticed that this site offers the same video's as offered by optionsincomevideos.com or tradingology or expert option trading (many sites offering the same video's). These video's were developed by David Valleries in 2008. They seem to provide good beginner level exposure via TOS.

Thanks Cloudy for the initial positive comments about optionincomevideos.com on this thread.

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