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Trading School Recommendation Request


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Trading School Recommendation Request

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  #1 (permalink)
 plethora 
Los Angeles, CA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Rithmic
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Is there a reputable school to go to learn how to trade? I need more help than I'm able to offer myself. Does anyone have a suggestion based on a very positive experience? TIA.

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  #3 (permalink)
McMathews
United states
 
 
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Hi
I am also looking for place where I can know more about trading . This forum circle had helped me a lot. But I am also looking for more practical oriented resource. Please provide me the link If there are any classes going on .

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  #4 (permalink)
 incometrade 
Rochester Hills, Michigan
 
Experience: Advanced
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Trading: Currency Futures
 
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I started to learn about trading from classes I took at OTA Online Trading Academy there worldwide www.tradingacademy.com . They start of with a week long class 8 hours a day at there facility with a professional instructor. They have a bunch of options after you take the first class. They have forex,futures,stocks,etc classes you can take also that all go deeper into each one. They teach you to trade using there money, small amount but live using Tradestation. They have classes that teach you the in's and out's of tradestation also, and a trading plan class. The one thing I think that helped the most is the xlt they provide, xlt is there extended learning track. I chose the futures one and its 3 times a week for 2 hours live and also recorded if you mis sesions with professional traders like "Sam Sieden" that mentor you through live market analisis. They have trade reviews which you can submit your trades you have taken and they will anilize the in the room with the class. Very worth the money, o yeah anything you buy there is for lifetime. I retook the begging class 5 times already just to get different instructors point of view. They try selling more every time your there but its not a hard sell at all. They are Very flexible with the cost of the courses, they start off high but will come down in price with a little work on your part. But I think I paid like 9000.00 for the first class called pro trader 1,2 and for the xlt, the pro trader courses are free retakes as many times as you want any where in the world. Also the xlt is 3 times a week every week. I hope this helps!

Incometrade
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  #5 (permalink)
 MetalTrade 
 
 
Posts: 1,081 since May 2010

I know you probably don't want to hear this but :

* I have read now close to 100 trading books
* I have blown up 2 accounts and lost considerable amount of money
* Have been in numerous trading rooms and bought several trading systems
* I have now thousands of screen hours, but still far below 10.000 which I believe is a magical number experience wise IMHO.
* I have worked with close to 15 different trading/charting programs and learned how to program on some of them. (I was a programmer before, but not a good one)
* I have learned the best things from a trading buddy/guru who was a pit trader for more than 30 years.

Big institutional banks have traders who have young MBA's and Phd's in economics who they need to re-locate because they are not able to be a succesfull trader, they just can't handle it. IMHO it has nothing to do with the scholarship you received but it has more to be if your mentally able to be a trader. It's not difficult to learn how to trade, it's extremely difficult to learn how to be a consistently profitable trader.

I have my moments of weakness since my journey is not finished yet but I learned so much. There are days I hate trading, there are days I love trading.

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  #6 (permalink)
 rcabri 
Switzerland
 
Experience: Advanced
Platform: ninja trader CQG Trader
Broker: Kinetick, IB
Trading: NQ DAX CL
 
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plethora View Post
Is there a reputable school to go to learn how to trade? I need more help than I'm able to offer myself. Does anyone have a suggestion based on a very positive experience? TIA.

Hi Plethora,
I do not know what is your knowledge but instead of spending money try to spend a lot of time at charts for pattern recognition
you have a simple example but very powerful
Bar chart or candle like you want
ASK help for some moving average on price I do not use it so I can not give advice
Volume (better volume 3)
MACD one of the best oscillator

Then look to have a 60 minute chart a 30 minute a 15 minute 5 minute and 2 or 1 minute and look for pattern
Bye Roberto

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  #7 (permalink)
 jtrade 
near Amsterdam
 
Experience: Advanced
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The one & only trading course I recommend to friends who ask is The MAX Trading System : Free MAX Webinar | The MAX Trading System .

I personally took the Standard course in September 2009 and next week start the new SAM (Super Advanced MAX) course. They have excellent ongoing support & the courses involve a lot of homework : as always, the more you put into it, the more you get out of it.

I should clarify that I have been trading since 1998 and do not use a MAX template on my primary intraday trading chart; nevertheless I frequently (as in every trading day) switch to my MAX template for a "second opinion" on my trades (very easy to do in Ninja).

So, all in all, I think The MAX is an excellent place to start (or refresh) - they have free introductory webinars from time to time and you can make a steady progression through their courses, making each one "pay for itself" before moving to the next level.

... but MetalTrade is right, there is MUCH more to trading than getting your trading method straight. I do Ed Seykota's TTP as an ongoing way of addressing these (and other) issues : Welcome .

J.

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  #8 (permalink)
 omaha786 
San Diego, California
 
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rcabri View Post
Hi Plethora,
I do not know what is your knowledge but instead of spending money try to spend a lot of time at charts for pattern recognition

Agree.

Instead of spending several grands, get Al Brooks Price Action book. Focus on one setup from chapter 15 "Best Trades". Since you like to trade more volatile markets such as oil, just focus on the section "Pullbacks in a Strong Trend".

Also, you can find lots of free resources including his past webinars and articles on Brooks Price Action - Home.

If you want to trade CL, pull a year of CL 5m chart to look for the pullback patterns that Brooks teaches in the book. For trade management keep it simple at one to one reward to risk ratio. For example, if the entry to stop is 20 ticks, then make the target 20 ticks. To eliminate emotions and mistakes as much as possible during a trade, simply walk away until you hear order filled (stop or target).

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


plethora View Post

Is there a reputable school to go to learn how to trade? I need more help than I'm able to offer myself. Does anyone have a suggestion based on a very positive experience? TIA.

my recommendation to you, for whatever is worth... save your money on "guru" courses... instead get some education from a reliable resource... I have taken some of the NYIF courses to ensure that what I learned from books was in fact accurate.. and also to clarify anything that I was stuck on..

Trading - eLearning - Financial Training

I have spent funds on training courses that focus on specific things I am curious about: tape reading, market profile, trade management, etc. however, they dont really teach me to trade. good sources of information are:

www.fulcrumtrader.com
www.jdaltontrading.com
www.priceactionroom.com
www.tradingconceptsinc.com

Free Proprietary Trading Training

The other option is to take some online courses from colleges offering financial engineering degrees... I have no idea where you are located, nor your educational background, but look at your local schools and universities..

FIU, Bentley, Columbia, Stevens Tech, Northwestern, Booth, PSU, Baruch & NY Stern are all good sources for courses that deal with Commodities and Derivatives Trading as well, either as part of a certificate or a graduate program.

https://www.scs.northwestern.edu/pdp/npdp/trading/

IMO, one cant really learn to trade in 2-3 months, so Guru courses are overated.. I rather spend $7-10K on getting a real education and have a certificate or another college degree... the only trading course(mentorship) that I would personally willing to pay for is Dan Sheridan's and I dont think it is worth the $7K (at least not to me) that he wants ... but learning is a personal experience and everyone does that best suits oneself... so what works for me, might not work for you... it is merely another point of view that you can take into account.

good luck...

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  #10 (permalink)
 rtrade 
Paradise, USA
 
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jtrade View Post

I do Ed Seykota's TTP as an ongoing way of addressing these (and other) issues : Welcome .

J.


Hi, I happened to come across his website by accident from a fellow futures.io (formerly BMT) member posting his Whip Saw song on the chat room last weekend. Since then I have been reading the Trading Tribes FAQ's. Can you tell me more about this tribe...I'm not fully clear about this....talking about your feelings while someone else validates the feelings?...using certain breathing techniques?....always talk or write in the present tense?....CM and Fred communication? I only know Ed Seykota from recently reading/listening to his excerpts in Market Wizards. Thanks in advance.

"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
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  #11 (permalink)
 Big Mike 
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  #12 (permalink)
Tundi
Fullerton, CA
 
 
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There are many "schools" that teach trading concepts, instruments, fundamental and technical analysis, but none, to my knowledge, will teach you a method that will make money consistently. If there were such a place, the edge they teach would soon evaporate as loads of money chase it.

So if your looking for an academic overview, there are reputable places, but don't get your hopes up they will teach you how to make money because they won't nor can't. No more than a Harvard graduate in Political Science will learn to be a successful politician.

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  #13 (permalink)
 plethora 
Los Angeles, CA
 
Experience: Intermediate
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Tundi View Post
There are many "schools" that teach trading concepts, instruments, fundamental and technical analysis, but none, to my knowledge, will teach you a method that will make money consistently. If there were such a place, the edge they teach would soon evaporate as loads of money chase it.

The "edge", my friend, is clearly in and of the mind. It includes taking psychological stock of and knowing thyself but also demands fundamental knowledge and experience. The world is filled with gold but 99% of people feel more comfortable settling for less for a wealth of reasons that fill volumes of books written and unwritten. But you still need the basic tools to operate any machinery or mechanical device. Even if every school did teach what they profess there would still be casualties on the road. Not every driver is a safe or defensive one. And the markets are the epitome of the collective unconscious where transference and counter-transference are experienced on a grand scale in the fastest time frame possible. I've consistently failed at a lot of endeavors for much of my life but without those failures I never would have figured out who I am or how to achieve the grand successes that I've also experienced. So I rather view the world as a glass half full than empty and I do.

And thanks everyone for the great information here and the link to that other site, Mike.

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  #14 (permalink)
 plethora 
Los Angeles, CA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Rithmic
Trading: GC
 
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Posts: 629 since Dec 2010
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And certainly most Poli Sci Harvard Grads do not want to become a politician.

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 plethora 
Los Angeles, CA
 
Experience: Intermediate
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Broker: Rithmic
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In fact, most folks wouldn't even want to attend Harvard.
Personally I love the structure that school affords.
Others learn better on their own. Still others throw in
the towel too soon or don't want to study at all.
There are a million different ways to learn and to do.
They are all valid. The key is to knowing the type of
environment in which one thrives, because nurture
influences nature. Daily sermon [/off]

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  #16 (permalink)
 plethora 
Los Angeles, CA
 
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Broker: Rithmic
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  #17 (permalink)
 MetalTrade 
 
 
Posts: 1,081 since May 2010

All you need to know and much more is for free here on futures.io (formerly BMT).

If I had known that before, it would saved me around $10.000 in education.

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 redegenerated 
España
 
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MetalTrade View Post
All you need to know and much more is for free here on futures.io (formerly BMT).

If I had known that before, it would saved me around $10.000 in education.

agree

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  #19 (permalink)
 jtrade 
near Amsterdam
 
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rtrade View Post
... I have been reading the Trading Tribes FAQ's. Can you tell me more about this tribe...I'm not fully clear about this....talking about your feelings while someone else validates the feelings?...using certain breathing techniques?....always talk or write in the present tense?....CM and Fred communication?

To begin to answer all those questions, you'd need to join a tribe, do a workshop & keep on goin' !

I guess you saw this page https://www.seykota.com/tribe/TT_Process/index.htm ?

Ed is a most unusual and extremely interesting fellow. Some very successful traders and/or money managers consider participation in the fortnightly meetings of Ed's tribe in Austin, TX, worth flying in for from all over the US.

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  #20 (permalink)
 soumi71 
Toronto
 
Experience: Intermediate
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Trading: CL , 6E
 
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Try these 2 great websites , I have learnt a lot from these particular 2 , everything is free too :
► TradingNaked - "The interpretation and application of price action concepts"

Forex Training Online: Learn Foreign Exchange (FX) Currency Trading



why spend money when the best things on trading are available free here in futures.io (formerly BMT) and on the web , I would receommed learn a basic setup stick to it , master it and own it and you will do just fine

Good luck !

Sincerely ,
soumi

"Risk more than others think safe.
Dream more than others think practical.
Expect more than others think possible.
Care more than others think wise"
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  #21 (permalink)
 plethora 
Los Angeles, CA
 
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MetalTrade View Post
All you need to know and much more is for free here on futures.io (formerly BMT).

If I had known that before, it would saved me around $10.000 in education.

But you're a pilot, metal, and quite mechanical, and I'm a monkey.
I learn by watching other people do.

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  #22 (permalink)
 plethora 
Los Angeles, CA
 
Experience: Intermediate
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Broker: Rithmic
Trading: GC
 
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soumi71 View Post
Try these 2 great websites , I have learnt a lot from these particular 2 , everything is free too :
► TradingNaked - "The interpretation and application of price action concepts"

Forex Training Online: Learn Foreign Exchange (FX) Currency Trading



why spend money when the best things on trading are available free here in futures.io (formerly BMT) and on the web , I would receommed learn a basic setup stick to it , master it and own it and you will do just fine

Good luck !

Sincerely ,
soumi

Neither link words, but thank you.

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  #23 (permalink)
 David_R 
San Jose, Ca
 
Experience: Beginner
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plethora View Post
Neither link words, but thank you.

I tried both links and they worked. I'd try them again or search for trading-naked.com and babypips.com.

I agree with others. The trading school approach may not be the best way to go.

There is no "quick way" to learn this business. I think you can accelerate the process by addressing psychological aspects first. Do you know yourself. How would you react to a losing trade? How would you react to 10 losing trades? Would you revenge trade? Meaning, would you double or triple your size to try and make up for the losses of the other trades? Do you want to trade short, medium or longer term? Are you patient? Can you follow rules? It may seem odd, but I don't think it comes down to methods and gurus etc. I think you have to have your mind right first, then learn methods etc. If the method is profitable half the time and your winners are bigger than losers you will end up on top.

David

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  #24 (permalink)
 MetalTrade 
 
 
Posts: 1,081 since May 2010


plethora View Post
But you're a pilot, metal, and quite mechanical, and I'm a monkey.
I learn by watching other people do.

Why did you stopped using the perry method ? Please elaborate.

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  #25 (permalink)
 plethora 
Los Angeles, CA
 
Experience: Intermediate
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Trading: GC
 
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MetalTrade View Post
Why did you stopped using the perry method ? Please elaborate.

Metal, as I said, I learn by watching other people do.
I could do well with Perry Method but need to see someone use it.
That would give me confidence and, more importantly, more knowledge.
Unfortunately, that isn't available at futures.io (formerly BMT). Would be awesome if Perry had
a trading room. I put in a ton of hours to walk away from my investment.

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 MetalTrade 
 
 
Posts: 1,081 since May 2010

I don't understand. The rules for entry are strictly defined at the perry system. What do we need to show you ? How to enter a trade ?

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


MetalTrade View Post

I don't understand. The rules for entry are strictly defined at the perry system. What do we need to show you ? How to enter a trade ?

for what is worth... keep in mind we dont all learn the same way... some of us need mentoring, while others can capture things without any issues... and then there are those that understand things better when explained by someone in person and being able to have that interaction to clarify the concepts and points of views being acquired...

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 bluemele 
Honolulu, Hawaii
 
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sysot1t View Post
for what is worth... keep in mind we dont all learn the same way... some of us need mentoring, while others can capture things without any issues... and then there are those that understand things better when explained by someone in person and being able to have that interaction to clarify the concepts and points of views being acquired...

That is a very good point and missed by most. Their are genetic differences between people's ability to pick things up using different forms of delivery like kinesthetic, auditory etc..

For me, when people talk about Universities giving 'real' education I have to laugh. Maybe for the theoretical industrial age jobs they want to plant the sheep in to somehow climb to the top so they can reap the rewards. For people like me, that type of instruction is DEATH, much like school was growing up. Strictly punishment by boring a person to death.

It is funny as you will see a general discussion on many threads that you don't need this. ONLY THIS way and you will be a master.

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 MetalTrade 
 
 
Posts: 1,081 since May 2010


bluemele View Post

For me, when people talk about Universities giving 'real' education I have to laugh. Maybe for the theoretical industrial age jobs they want to plant the sheep in to somehow climb to the top so they can reap the rewards. For people like me, that type of instruction is DEATH, much like school was growing up. Strictly punishment by boring a person to death.

You are cutting corners way to fast here, indeed for some or most regular people university is a waste of time. For a few, it's an enabler to dig into a subject or specialization and to be surrounded by extraordinary people who form your character by giving you impulses of all sorts. I have to admit that you have to search for it, but it's there in most universities. The most important task a university has for me is to trigger your interest. I became a changed person by listening to some great professors at the university, they showed me the way to some great books and some great insights. You have to blame only yourself, and not the teachers for failing to find it.

That's what you need to find in a university. Not a make me rich, teach it all scheme. Real life starts after university.

Life is not all about how much money you make.

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  #30 (permalink)
 TheSeeker 
Germany
 
Experience: Intermediate
Platform: MT4, StrategyRunner
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I just visited their website....their setups could have pulled out 1300 pips out of a 300 pip move in 6 days ( recent trade example on their website).


Jtrade, what do you think of these bold claims ? I think even Warren Buffet would have peed himself reading this.



jtrade View Post
The one & only trading course I recommend to friends who ask is The MAX Trading System : Free MAX Webinar | The MAX Trading System .

I personally took the Standard course in September 2009 and next week start the new SAM (Super Advanced MAX) course. They have excellent ongoing support & the courses involve a lot of homework : as always, the more you put into it, the more you get out of it.

I should clarify that I have been trading since 1998 and do not use a MAX template on my primary intraday trading chart; nevertheless I frequently (as in every trading day) switch to my MAX template for a "second opinion" on my trades (very easy to do in Ninja).

So, all in all, I think The MAX is an excellent place to start (or refresh) - they have free introductory webinars from time to time and you can make a steady progression through their courses, making each one "pay for itself" before moving to the next level.

... but MetalTrade is right, there is MUCH more to trading than getting your trading method straight. I do Ed Seykota's TTP as an ongoing way of addressing these (and other) issues : Welcome .

J.


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  #31 (permalink)
 benaam 
Mumbai, India
 
 
Posts: 13 since Mar 2011


McMathews View Post
Hi
I am also looking for place where I can know more about trading . This forum circle had helped me a lot. But I am also looking for more practical oriented resource. Please provide me the link If there are any classes going on .

Wikipedia is one of the best resources for learning more about trading.

You could try charting @ freestockcharts. com, its free and very easy. you could also look at some other sites which are equally good.

Investopedia is probably the best source.


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  #32 (permalink)
 benaam 
Mumbai, India
 
 
Posts: 13 since Mar 2011


bluemele View Post
That is a very good point and missed by most. Their are genetic differences between people's ability to pick things up using different forms of delivery like kinesthetic, auditory etc..

For me, when people talk about Universities giving 'real' education I have to laugh. Maybe for the theoretical industrial age jobs they want to plant the sheep in to somehow climb to the top so they can reap the rewards. For people like me, that type of instruction is DEATH, much like school was growing up. Strictly punishment by boring a person to death.

It is funny as you will see a general discussion on many threads that you don't need this. ONLY THIS way and you will be a master.

So true. University education can be a two-edged sword, it can spoil your natural style by feeding unnecessary junk into your head. For some, it can be useful.

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  #33 (permalink)
 cory 
the coin hunter
virginia
 
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MetalTrade View Post
I don't understand. The rules for entry are strictly defined at the perry system. What do we need to show you ? How to enter a trade ?

that is because one can only trade his method not somebody else's method.

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  #34 (permalink)
 bluemele 
Honolulu, Hawaii
 
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MetalTrade View Post
You are cutting corners way to fast here, indeed for some or most regular people university is a waste of time. For a few, it's an enabler to dig into a subject or specialization and to be surrounded by extraordinary people who form your character by giving you impulses of all sorts. I have to admit that you have to search for it, but it's there in most universities. The most important task a university has for me is to trigger your interest. I became a changed person by listening to some great professors at the university, they showed me the way to some great books and some great insights. You have to blame only yourself, and not the teachers for failing to find it.

That's what you need to find in a university. Not a make me rich, teach it all scheme. Real life starts after university.

Life is not all about how much money you make.

Professors aren't the only one's with life lessons. Professors (whom several are my friends) are typically the least experienced in life that I know. They hide behind acronyms and 'tenure' (at least in the US) and unless you go to a really really great school, then most of them have never had a board room seat, much less traveled to see the Dalai Lama.

Life can definitely 'begin' in Uni, but it doesn't have to.

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  #35 (permalink)
 TheSeeker 
Germany
 
Experience: Intermediate
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bluemele View Post
Professors aren't the only one's with life lessons. Professors (whom several are my friends) are typically the least experienced in life that I know. They hide behind acronyms and 'tenure' (at least in the US) and unless you go to a really really great school, then most of them have never had a board room seat, much less traveled to see the Dalai Lama.

Life can definitely 'begin' in Uni, but it doesn't have to.

No, it doesn't have to.

Still, I wouldn't say university is useless -far fom it. Education is the only thing a person has got these days, a degree from university is still the best protection against unemployment, at least in Germany.

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  #36 (permalink)
burton82
chicago
 
 
Posts: 6 since Nov 2009
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the cme group provides pretty good education and a lot of basics and some more advanced strategies

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  #37 (permalink)
Daytrader50
DELRAY BEACH
 
 
Posts: 41 since Jun 2012
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Big red Flag! Ive read several emaIls max trading has sent me, let me watch a long drawn out one for free, Gof knows how something spo simple caqn be made confusing, and all I am left with is :no idea what kind of indicaTORS THEY USE, NO IDEA IF THEY USE FIBONACCI, NO IDEA why they have no chat room. Its almost like the whole idea is to keep you injh the dark to keep yopu coming back. Welll, that dont work for most americans. I was just put to sleep by hours of trying to learn and got nothing. Disgraceful.

marc

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  #38 (permalink)
 Fibbee 
Boston, MA. United States
 
Experience: Intermediate
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plethora View Post
Is there a reputable school to go to learn how to trade? I need more help than I'm able to offer myself. Does anyone have a suggestion based on a very positive experience? TIA.


I would recommend Big Mike's Trading Forum.

There is plenty of helpful information and friendly fellow traders on this website alone. Ultimately though it will remain on your shoulders to figure out what kind, or style, of trader you are. That is the most important thing you can realize. When you pay for a school, you are at a disadvantage because you are trading someone else's method. Also keep in mind that you are being SOLD something. You will most likely realize that you need to create your own methodology and master something specific to you.

If you are just starting as a trader, you would be doing yourself a great service to realize that it is going to take a long time to become successful at this. No matter what road you go. If you are not willing to commit to trading as a business, you will not succeed, regardless of who your teacher is.

My advice to you is to save your money. Chances are you could have found the same information that you paid for, on the internet or in a book.

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