We don't endorse anyone. If we feel customers have unrealistic expectations, we simply share with them the reality of trading and it's challenges. Ed's call ins never sounded like they have unrealistic expectations and showed willingness to practice on an ongoing basis, so I was never altered as to any type of "hype".
I don't know what people consider legit, or not, when I learned trading I did it by going to the book store and buying books. I sat and read it, did charting and spoke to people who traded live, and some were even floor brokers.
I was very young when I realized how difficult markets are, and there is no method, system, "the way" that could consistently work. Today, without admitting it, many traders still seek red light/green light methods and many of their frustrations are the result of buying products that did not deliver their expectations.
So if you are someone who purchased literature in the past or are shopping around in order to further enhance your knowledge, I recommend you implement the following approach when it comes to trading:
I truly believe that the development of your own methodology has to be based on a sound understanding of the supply and demand of market prices. More specifically, a thorough understanding of the odds of whether the buyers or sellers are controlling the markets.
I discourage people from thinking in terms of red light/green light whereby you seek a method that has some sort of a probability that you think will work under all market conditions. Rather, we encourage you to seek out a set of tools (indicators/methodology) that can be used under different market conditions. Your experience over time will dictate which set of indicators will be better suited for the different markets you trade.
I encourage the understanding of a value-based approach where you DONíT look at prices only in terms of highs and lows, but rather in the value perceived at that point in time to other buyer and sellers. This approach will prevent you from attempting to catch the high and lows to the point where prices are just numbers.
Your frequency of trading should match your personality and tolerance and above all should only increase as your own trading experience increases. Overtime, you will actually find yourself feeling more comfortable trading certain markets at certain times of the day. There is no way quick-fire way to achieve this. Only time and patience will get you there.
THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
The following 2 users say Thank You to mattz for this post:
I guess its just another "potential stream" for them to make money. People will go to Ed's site, see the "so called" results, think wow this Ed person is amazing, lets sign up, oh and "Tell MATT I sent you."
I think if people went to BMF 1st, it would be a different ball game all together.