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...
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.....
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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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Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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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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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 .
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List of software and trade rooms:
Nexgen T3 Pro Fib Trader
Futures Trader Secrets
Universal Market Trader
Trade The Market
Trade Angle Strategies
Rythym of the Markets
The Trading Zone
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!
Last edited by Jaguar52; August 18th, 2011 at 08:04 PM.
Reason: add more thoughts
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