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What Training courses you have please give me your review


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What Training courses you have please give me your review

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  #71 (permalink)
virginia
 
Experience: Intermediate
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Trading: NQ
 
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Slipknot511 View Post
...
That being said, I think there are a few guidelines that warrant a big "Caution" from a trading course, book, video or whatever:

1) Promises of easy riches. This is a lie. PERIOD! I hit delete the instant I see the words "Secrets", "riches", "easy" or if there are pictures of bikini babes, beaches and exotic cars. All I can say is, "Run Forest, RUN!"
...
There are signs that a seller or educator might be legitimate:
1) The exact opposite of all the things above. They stress how difficult trading is and that it is anything but a path to easy riches. (At his CBOT webinars, Mark Fisher often says that trading is the second most difficult job in the world after President of the USA".) He may be right.
2) A strong emphasis on psychology and money management coupled with a strong de-empahsis of the importance of methodology. Experienced traders know that Psychology and money management (risk management) are 90% or more of the game and methodology makes up the small balance.
3) A lack of selling pressure. I have only one educational resource that I spend money on regularly. I have NEVER been solicited by this person. He has NEVER urged me to buy his book or subscribe to his daily commentary. This trader only even has a live commentary because a group of us literally begged him to do so. To be blunt, he is not a good author or educator, but is the best damn trader I know of.
4) In my 7 years of experience in this industry, i can honestly say the best resources are usually free. These can be web resources like futures.io (formerly BMT). The exchanges are an excellent source of free education.
....

Lastly: NEVER, never, never, never ever give up! Winners all have one common trait: The absolute refusal to accept failure. At the risk of revealing my inner nerd, I quote Yoda, "Do, or do not. There is no try.".

well said but always there is an exception;
this guru does promise of easy riches, six figures in first year, 3 X daily range
not much emphasis on psychology and money management but strong emphasis on making notes,daily review, getting on the right side of market and run if you see red. It turns out six figures and 3X is a hook so that you can hang on for the duration. I totally agree 'the best resources are free' he didn't ask for a dime just paying forward.

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  #72 (permalink)
london
 
Experience: Advanced
Platform: marketdelta
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Very Well said indeed Slipknot. The words of someone that clearly understands what is important. Excellent :-)


Slipknot511 View Post
I have gone through dozens, if not a hundred, books & courses. My gut instinct is to say that 99.9% are a waste of time and money, yet I'm sure I gleaned at least one valuable concept form most of them. Who's to say that one nugget was not worth the price paid? It's extremely difficult to attribute value to courses and books. I think this is because just as every trader is uniquely different & the methodology that will work for them is unique, so too are the resources that will help them achieve their goals.

The paradox of trading resources is that it is difficult at best to know in advance if a particular course or book will benefit you. There are items mentions highly in this thread that I think are garbage. And there are also materials mentioned as useless that I think had some value for me. The other posters and myself are probably both correct in our opinions.
That being said, I think there are a few guidelines that warrant a big "Caution" from a trading course, book, video or whatever:
1) Promises of easy riches. This is a lie. PERIOD! I hit delete the instant I see the words "Secrets", "riches", "easy" or if there are pictures of bikini babes, beaches and exotic cars. All I can say is, "Run Forest, RUN!"
2) Subscriptions or recurring fees as opposed to selling a product outright. This approach is usually designed for one purpose: To generate cashflow. There are exceptions though.
3) Be cautious of the advice given on the myriad of internet forums. Most of these consist of losers looking to other losers for direction or affirmation. There are a few successful traders who frequent these, but they are few and far between.

Be aware that there is a huge industry that makes a fortune on marketing and cross-marketing trading related goods and services. I'm very leery of ads or spam of so-called traders informing us about their "buddy" over at company XYZ who has cracked the code of the markets. Over the years, I regularly see the same names popping up again and again selling a new system every year or two. Often these sellers are a shill for each other. Buyer beware.

There are signs that a seller or educator might be legitimate:
1) The exact opposite of all the things above. They stress how difficult trading is and that it is anything but a path to easy riches. (At his CBOT webinars, Mark Fisher often says that trading is the second most difficult job in the world after President of the USA".) He may be right.
2) A strong emphasis on psychology and money management coupled with a strong de-empahsis of the importance of methodology. Experienced traders know that Psychology and money management (risk management) are 90% or more of the game and methodology makes up the small balance.
3) A lack of selling pressure. I have only one educational resource that I spend money on regularly. I have NEVER been solicited by this person. He has NEVER urged me to buy his book or subscribe to his daily commentary. This trader only even has a live commentary because a group of us literally begged him to do so. To be blunt, he is not a good author or educator, but is the best damn trader I know of.
4) In my 7 years of experience in this industry, i can honestly say the best resources are usually free. These can be web resources like futures.io (formerly BMT). The exchanges are an excellent source of free education.
5) Just because someone charges, does not make them a huckster. Successful traders and good educators know that charging for their services keeps the dreamers and hecklers from monopolizing their time. It assures those they devote their time to are willing to invest in their education.
6) There is absolutely no correlation between price and value... whatsoever!

Many won't want to hear this, but the spot forex market is a breeding ground for sharks. It was made available to the public for one reason: to separate you from your money, not because anyone felt the need to create a new income opportunity for us. The lure of this market is an appeal to item number 1 above - The desire for easy riches. Yes, it is possible to make good money trading retail forex... but VERY FEW do.
Likewise for the exchange traded instruments. Do we honestly think the e-mini was created because the exchange felt sorry for the general public and wished for us to get a slice of the pie also? The pit traders call us "paper", the electronic professionals have a name for us also: "Liquidity". You are on their playground, playing with their ball by their rules. If you can't recognize & accept this, then you have already lost. You need to answer one question: "What have you got going for you that they don't?". Find the answer and you find success.

Lastly: NEVER, never, never, never ever give up! Winners all have one common trait: The absolute refusal to accept failure. At the risk of revealing my inner nerd, I quote Yoda, "Do, or do not. There is no try.".


 
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  #73 (permalink)
Austria
 
Experience: Intermediate
Platform: Ninjatrader, X-Trader
 
Posts: 40 since Jun 2010
Thanks: 54 given, 25 received


Hi Kam,

I appreciate that you have joined futures.io (formerly BMT). There has been some talk about you as you have noticed. I have two questions:

1. Can those who join your trading room take your trades and see your DOM? Is it easy to replicate your trades?

2. Do you use the DOM itself for trading/scalping? If yes, do you look for patterns within the DOM in addition to Delta?

Thanks a lot!

Regards,
TT

 
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  #74 (permalink)
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Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
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  #75 (permalink)
Reno, NV
 
 
Posts: 30 since Apr 2010
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Now guys you see what I was talking about. There is a certified NLP practitioner among us which nevertheless does not use many NLP techniques himself. That is what we call Peak Performance Coaching. If you watched a free DOM "scaling" 3 hour short freebie you know that it works but if it does not and you've lost your account trying to replicate it -- hey it is a freebie just throw it away!
And do you know the secret to success of the hedge fund's traders? Do you know why they make a lot of money trading? That is simple -- their secret is 1 on 1 coaching they regularly receive from kamd

I do not have to add anything else here, do I?
P.S. My only motivation is to prevent a con artist from taking advantage of confused fellow traders. Sasha is not my full name and even more -- it is not my name outside of this forum, and how one can make a different conclusion if he is not on drugs avoids my comprehension

 
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  #76 (permalink)
london
 
Experience: Advanced
Platform: marketdelta
Trading: DAX
 
Posts: 6 since Nov 2010
Thanks: 0 given, 4 received

TT, I have PM'd you, as advised by Big Mike. Thanks.


Tradetronics View Post
Hi Kam,

I appreciate that you have joined futures.io (formerly BMT). There has been some talk about you as you have noticed. I have two questions:

1. Can those who join your trading room take your trades and see your DOM? Is it easy to replicate your trades?

2. Do you use the DOM itself for trading/scalping? If yes, do you look for patterns within the DOM in addition to Delta?

Thanks a lot!

Regards,
TT


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  #77 (permalink)
london
 
Experience: Beginner
Platform: ninja
Trading: fgbl
 
Posts: 152 since Nov 2009
Thanks: 64 given, 44 received

personally - and with hindsight i would not go on any course - you always get alot
less than what you pay for and in many instances nada, i would use the reading list
supplied on this forum - your risk then is minimal

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  #78 (permalink)
Sussex, England
 
 
Posts: 1 since Nov 2010
Thanks: 0 given, 0 received

"Sasha",

I am not sure whether you have read this forum's rules ( I have) but having read through your posts it would seem as if your comments concerning Kam at L2ST certainly directly contradict them and, in my view, border on the defamatory. What exactly is your personal experience with him and his firm? I have to say that as a born sceptic my personal experience has been consistently positive over the last year and I have found him and Brian to be genuine, honest and truthful - and remarkably open and generous to boot. I have no axe to grind - I have no connection with the firm of either Brian or Kam except as a demanding but satisfied customer - but wanted to set my experience down for the record as describing Kam as a con artist is really outrageous and I'd suggest you are more careful with such defamatory remarks.

regards

Red Toucan

 
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  #79 (permalink)
Reno, NV
 
 
Posts: 30 since Apr 2010
Thanks: 8 given, 9 received


Red Toucan View Post
"Sasha",

I am not sure whether you have read this forum's rules ( I have) but having read through your posts it would seem as if your comments concerning Kam at L2ST certainly directly contradict them and, in my view, border on the defamatory. What exactly is your personal experience with him and his firm? I have to say that as a born sceptic my personal experience has been consistently positive over the last year and I have found him and Brian to be genuine, honest and truthful - and remarkably open and generous to boot. I have no axe to grind - I have no connection with the firm of either Brian or Kam except as a demanding but satisfied customer - but wanted to set my experience down for the record as describing Kam as a con artist is really outrageous and I'd suggest you are more careful with such defamatory remarks.

regards

Red Toucan

Thank you a very new member from England for another opportunity to explain why my opinions about L2ST do not contradict the forum rules. This forum is created primarily to help traders in their difficult lonely endeavor and not to promote vendors. The fact that kamd has chosen to become a member doesn't protect him from being criticized as a dishonest vendor. He is still a vendor, isn't he?
I can see that you have not read my posts carefully enough to realize that I have no relationships with kamd and my personal experiences are limited to watching his mambo jumbo lessons and reading his claims right here. Hasn't he claimed right here that he coaches hedge funds and prop traders? Is that true? If not what do you think is the purpose of such a lie? When I first read such claim I couldn't help but felt that kamd was such a prominent teacher that I should definitely pay for his lessons: if big hedge fund traders do it, it must be worth it! Than I realized that all I have to confirm this claim is kamd's words.
Another thing is the service that is provided for the money. I will paraphrase here, but as FT71 explained his reasons to start a trading blog: he was tired of watching six-graders teaching fifth-graders math and charging thousands for the lessons. You see I know that Larry Williams is a successful trader, I can see that John Grady is making money trading cause he displays his statement right on his website. All that I've seen from kamd so far is sim trading. How do we know if the service he is providing is worth the money? How do we even know that he is a trader himself? That is easy to show, isn't it?
So, luckily for us here we are not discussing religion, but something provable and factual. Good lessons should bring positive measurable results At least with some students. Or the money is wasted on a con-artist. That is my honest opinion, but
I will give you my word to apologize for my somewhat direct opinions in case 2 things happen:

a) you as a "satisfied customer" (or kamd himself at least as a teacher) should be able to demonstrate why are you satisfied by showing us consistent profits on your account statements for a few months. You can mask the private information, all we are looking for are the numbers.
Any other student's of his statements will suffice btw;

b) kamd provides prove that he has more than 1 student among big hedge funds traders;

I am sorry but your words are not enough. I don't even know you, how can I trust you to trust somebody claiming to have students among guys like yourself and hedge fund traders (in the same room I assume)?
Just think about it for a second, could that be true? That kamd is coaching billioneers how to trade? In the same trading room with us, hundreneers? Or maybe they, billioneers, hire him to experience his art of certifiable NLP specialist? That is more likely now, since the death of Ari Kiev. There must be shortage in the trading psychology field, so every one with such credentials is sought by the hedge fund traders.

 
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  #80 (permalink)
Site Administrator
Manta, Ecuador
 
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