I don't need to go into the price of every program which was going to make me rich overnight. I'll just say it was well over $10K total (maybe closer to $20K) which would have been better off as trading capital than "fools" gold.
Top Dog Trading
Back to The Future
Master the Gap
Day Trade to Win
Two others I won't name because the people running the company really did get involved with good intentions to help others. Neither ever tried to upsell and both are out of business because they realized that what they were offering did NOT perform to their or other's expectations.
*** And the ONLY one which truly helped me! Price Action Trader by Lance Beggs. He makes NO promise of instant or ANY success. Constantly stays in contact with clients. Frequently sends newsletters. Has NO software or indicators to sell. Trades the futures markets himself. Talks about his failures as well as his successful trades, AND the least money invested for any program purchased. Very affordable and realistic.
Better off spending your time HERE with BM forums finding yourself and the type of trader you are or with a program like Lance Beggs PAT which is designed to help you find yourself in this brutally stressful yet rewarding business. It took me YEARS to be consistently profitable!!
The following 5 users say Thank You to mmtrader4 for this post:
If you want to learn how to do Internet marketing to the 20-something male demographic, learn from watching Sykes as Internet marketer. He's one of the best. He says he makes an order of magnitude more money off marketing than trading. The thing you learn from Sykes first and foremost is that to be a trader you can never be cynical enough.
If you nevertheless buy into his contrarian proposition that being a penny stock short seller is an area of trading where it's possible to get an edge, then you can learn a hell of a lot just by watching all of Sykes' free videos on Youtube. And then following his advice to use free resources on the Net such as Yahoo Finance. If you still can't get enough Sykes, then you can get all of his videos dirt cheap off Ebay.
As for pennyland itself, I admire Michael Goode, who is one of Tim's touted "millionaire students." Goode is the one who was at first a Sykes hater, then was convinced to come over to the dark side. He operates as a blogger with a site that does a lot of DD into SEC filings and other nitty gritty of the pennyland underbelly. Very worth drilling down. It's really fascinating stuff, and it's the true essence of being a short seller, all free. Goode Trades
That being said, I prefer to admire pennyland from a distance.
Marty Zweig's lousy newsletter. I don't think he bought that fancy Manhattan penthouse by trading his recommendations.
Louis Rukeyser's lousy newsletter. I thought the Wall$treet Week with Louis Rukeyser had to be good since it was so painfully boring. Thanks Lou for the PMC Sierra and Enron rec's !!! And the Intel Microsoft recs in October 2001
Essex Trading Software, which was a total waste.
Then there was this cheap program that magically called out support and resitence in t bonds. Total waste.
Bought tons of books from Windsor Publishing.
Subscribed to Investors Business Daily. Which was great if you only read the Monday's edition.
Optionetics Newsletter, they did ratio spreads. The spreads never made a dime!!
Lotus 123 Spreadsheet for programming the algorithms from the Windsor's Books. The spreadsheet knowledge came in handy for my job. I duplicated/rediscovered/invented RSI, %R, and stochastics all on my own.
Then there was the "Gartman Letter". Made some good calls, made some not.
And that guy that advertised late night, basically calendar trades, I copied his stuff from a co worker.
Welles Wilder's dull boring video and book on how phases of the moon affect commodity prices. Man, that guy can talk out of both sides of his mouth. "Phase with in a phase" "Skipped phase" "Inversion phase"...Biggest bunch of bullshit. His nondisclosure agreement is a service to the investing public.
From reading the responses here, now I don't feel that I missed all the great opportunities touted by these program vendors, and trading system vendors.
Last edited by thailerdurden; March 20th, 2015 at 08:17 PM.
The following user says Thank You to thailerdurden for this post:
Really liked Marc Faber's commentary for his contrarian style and funny side but not helpful to pick stocks. He get's it right but by the time he talks about it (monthly letter) often big move had already happened.
MoneyandMarkets - Larry Edelson was next - as I was and still to some extent gold bug. His flip flop eventually became too confusing to follow.
Next moved to Alexander Elder and liked his simplistic approach to trading and made me think about Technical.
Liked his colour coding and apparent easy entry/exit points. Lost 2k after getting impressed with his Divergence indicator and dreaming about holygrail. Indicator is fine but I was NOT thinking about context. I also tried his spiketrade.com which taught me about the importance of journaling but realised that stock trading wasn't for me and I was jumping from pillar to post and chasing hot stocks. Decided to focus on ES futures only.
Then got fascinated about Fib levels and tried Dynamic Trading but quickly realised that it's too complicated for me and got my refund back.
Then tried Barry Taylor from emini-watch.com. Great guy with lots of free videos and good explanation of his trade setups. Learnt for the first time about the importance of volume driving the price and Amateur vs Professional activity. Highly recommended but you can get similar indicators here in futures.io (formerly BMT) elite.
Then I had a look at Mack'sPrice action Manual which is probably worth the small amount of money but if you have the patience to go through this forum PAT thread, it's probably there for free. No consideration for volume though.
Eventually my Volume interest led me to Jigsaw trading tools a month ago and last week I added Rancho's Market Profile indicators (similar to free GOMI indicators here). Both are highly recommended for serious traders who wants to know why the market moves the way it does and I feel comfortable using them but still learning. I don't think I can ever take a set up again without volume & price flow analysis.
oh, I almost forgot.
BIGMIKETRADING - AWESOME AND PRICELESS
Last edited by Narcissus; March 26th, 2015 at 12:21 AM.
Reason: Adding BMT
I have bought a lot of books but those I really like
Price Action Trading: Mack, Brooks, Volmer, Scheier, One Way Formula for Trading by Dunnigan (Oldie but goodie), Joe Ross
Stock Strategy: Dreman, Tortoriello, Kirkpatrick, O'Shaughnessy, Israel, Antonacci, Willain, Jihaljevic
Systems Development: Murray Ruggiero, Kaufman
Technical Analysis: Tons of stuff
Systems I use
Tradestation, Stock Investor Pro (AAII), Sector Surfer, futures.io (formerly BMT) (great deal)
Brought trade miner and I am looking to develop a swing trading system using that tool
Subscribe to IBD
Profitable using Stock Strategies with Sector Surfer
Still working on crossing the threshold on emini daytrading but getting close. The simulator on tradestation is too easy and doesn't simulate the fill very well.
Last edited by cmur322; June 10th, 2015 at 01:43 PM.
After reading through this post, I don't feel so bad! LoL
Yellow Brick Trading group $399
Octave System $500 yr
Slick Trade $90 a month I think
a facebook gurus strategy $100
5 Star Signals (can't remember price but it was monthly)
That's about it. Thank GOD!
I've blown a forex account of $1500 and a Binary option account of $800 also.
On the right track now with Supply and Demand and naked charts.
Also following major banks trades that match up with S&D zones.
Hightower! another newsletter that could talk out of both sides of their mouth, never make a conclusion.
NASS....it was the thing that reported on commercial, speculator, and small accounts open positions. Great theory, but I never could make heads or tails out of it!!
Moore Research, it was gave seasonal trades and seasonal spreads with all kinds of statistics which was generated by computer. "Their computer" and my manual looking up historical prices sometimes didn't agree. I think it was the best of a bad breed. Problem was that I always managed to choose the losing trades.
Fortucast.....it was a program offered by Lind Waldock that did calendar studies. E.g. suppose you wanted to look at buying Crude Oil June on November 13th, and selling on December 1st. It would give you the prices, and results for like 20 years. Problem was that the prices didn't always agree to other sources. I'e. multiple independent sources that did agree. Lind Waldock and the idiot at the end of Fortucast's phone didn't give a $%^&!!
This was an excellent omen for Lind Waldock's demise.