im in agreement about proving out a methodology. if you cant show statements then whats the point? anyone can color out the account number and still show that what they are teaching is real and has validity. ive had my share of buying tools and indicators from vendors. most of the ones i worked with always either talked about the trades after the fact, or if a trade works thats not in accorance to their rule set they change it to accomidate the end result of the trade.
the best thing anyone can do is to setup a proper money management plan. know your risk and reward on every trade you take. knowing this is your true grail in my opinion.
Actually even an account statement proves nothing, as Larry Williams pointed out in one of his books. He showed how a vendor if he really wants to be unethical, would open two accounts. Then in each one take the opposite side of the trade. Only cost then is commissions. Then take the best one, and build your pitch on that.
The following user says Thank You to Peter2150 for this post:
What finally did it for me with the 3 stooges (Rich the wizard Staiton, Charles the late show, and Gary the good guy) was when they repeatedly said that gotomeeting was the reason that chats among members could not be shown. I guess they take their members for snake oil lemmings, which in reality, is the case. lol
iam a subscriber to the viper trading sysem (discretionary trading no autotrading for me)and i love it i use to trade the ES i use 5 range charts for entries and 8 range chart for trend identification system is great
The following user says Thank You to chartman for this post:
I believe that if a trader can make it past the stage where they are taken in by the sales pitch of every system, indicator, and trade room huckster they just might have a chance at making the next step toward profitable trading. I don't think these people should be considered as trading mentors.
As like many other indicators, it has its strenghts and weaknesses but in general it's a very good and simple one. I have traded the ES using a 5 range chart and what I like the most is that it keeps me more time in a trade than many other indicators. It also holds during pullbacks (small pullbacks though)