bot an elite at futures.io (formerly BMT), but one time I bot a bag of snickers and ate the whole bag!
Other than that I spent a bunch of money once on an indicator package by a guy whom we can not mention on futures.io (formerly BMT) because he is a giant female reproductive organ. Now in the 21st century most things can be coded homestyle.
The author...NOT Mike!
Last edited by wldman; August 23rd, 2012 at 01:54 PM.
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Software for inter-market analysis and prediction on a daily basis. Didn't rhyme with my trading style at all.
VirginTrader from Elliottician
(Trial subscription) Perfect waste of time - gave too many bad signals that had to be filtered visually.
Seven Summits Trader from NetPicks
Indicator package for NinjaTrader - can make money when markets are volatile. (And lose during chop)
Indicator package for NinjaTrader - not expensive, perhaps useful, but didn't do it for me...
Dick Diamond 4-day live seminar
Interesting peek at how a veteran approaches the markets. Didn't really teach how to trade for real though.
Trading Advantage / Secrets of Traders online course
Finally something that opened my eyes regarding how to view price development, and most importantly, what NOT to do.
Not to mention a few dozen books, and a long-standing subscription to Elliot Wave International's Financial Forecast service.
Note though that I have given up on Elliot as a means to making money in the markets - trying to predict where price is going gives you expectations, and they only serve to block your mental ability to see what the market *is* doing (especially when you are in a trade).
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I started with Metastock and with a free EOD data from Yahoo and other places.
Then I got tired of free EOD data and subscribed eSignal.
I then bought QCollector, a perfect match for eSignal.
Books were flying by now. I'm another one that Amazon loved. I have a couple of boxes at the attic full of books that I have no idea why I spend money on.
Then I decided to daytrade. Upgraded my eSignal subscription to realtime and I was on...
A couple of years later, and a couple of $$$$$ less in the account a friend of mine introduced me to Multicharts.
It was love at first sigh. Best money spent!
With that came the need of indicators, custom made ones. Lost the $$$$ I've spent so far. Of all the weirdest ideas I had, I only use 4 now which I really could not trade without.
futures.io (formerly BMT) came next, IQFeed right after.
Used Sierra, still use IRT (till the end of the year).
I forgot, spent near $1000 on a WD Gann DVD course and a book. Have mix feelings regarding this
If I become half a percent smarter each year, I'll be a genius by the time I die
I started trading stocks originally back in April of this year when stocks were cheap and I figured "how hard can it be to be rich in stocks".
That dream was short lived when I lost a few dollars here and there. Then I decided to get some material to help me trade.
So I decided to go watch "Trading the Nasdaq ETFs" by Darllene Nellson.
When I first watched her DVDs I was so excited that I was going to be a millionaire because "she said so". She said trading the Q's is easy and what you learn here you can use for any stock.
Now back then I didn't know squat about trading. I had no idea what options were, no idea what shorting was, no idea what head and shoulders, double tops, double bottoms were. So everything that came out of her month amused me.
Now fast forward a few months and replaying her DVDs I came to a very important decision. She is so damn full of shit its not even funny.
Basically if you look around the room that the material was filmed in you see nothing but pensioners. People who worked their asses off scrubbing toilets for a living to put a buck or two in their savings account. Then she publishes this course for around $5K plus extra for additional software which will guarantee them financial freedom.
You can tell her students absolutely don't know shit about trading simply due to the fact that they believe her ridiculous facts.
- Trading the QQQQs is all about the double/triple tops and bottoms. That's all you need to succeed in trading the Q's.
-You don't even need a computer to trade. Simply call your broker and ask "What price did the QQQQs close yesterday, what price did it open, is the price going up? is it going down? If the price was going up and then reversed and is going down, tell your broker that you want to short.
(I am not kidding on this one)
-All you need is the QQQQs to go up by 10 cents. With only $5K you can buy 100 in-the-money option contracts and get $500 once it hits 10 cents. (she forgets to mention that to buy/sell options you need to pay a shitload in commissions)
-"Know I know what some of you are thinking, your thinking yeah I can make $500 a day but what if I am wrong".
Her reply "Then just don't be wrong."
-If you buy some QQQQs contracts and price goes against you. Wait until it stops going down and then double your position and this way you will make $1000 instead of $500
(She forgets to mention what if price never goes towards you again)
She says the secret to finding tops and bottoms in the QQQQs are pivot points. She says the pivot formula is a secret formula and "she shouldn't even be telling us this because she can go to jail due to its accuracy". She then says you should go to my son's website and pay $5 or $10 (I forgot the amount) to get your own Pivot Point calculator. Can you believe that? She already stole $5K from these pensioners and now she wants to steal another $5 from something you can find for free on Google.
So at this point I was confused. So I decided to Google her and found out quickly that her whole course is a big scam. She even goes thru the trouble of hassling people not to re-sell her DVDs on eBay. Think about this for a minute. If she actually was making millions trading option contracts on the QQQQs why the hell would she waste her time surfing eBay everyday to prevent people from reselling her DVDs. ?
There are numerous pensioners who lost their entire savings accounts because of her.
My point for this thread is that I have come to the absolute conclusion that all these courses are NOT going to teach you enough to trade successfully. They only want your money.
It should of occurred through by dumb brain that "Why the hell would these turkeys be releasing their secrets of trading and go through the hassle of writing the course material, publishing, advertising if they can make much more money trading on their own?"
The answer is simply because they don't know how to trade. They are fakes. If they were real professional millionaire day traders they would keep their tactics tighter than an Asian vagina because if their tactic got spread it might not work anymore and keep them out of business.
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