I'm new to this forum and new to trading. I have made one introduction post and don't feel I have anything of value to offer except for three months of experience trading the ES from a SIM account on NinjaTrader. I haven't lost much money, but haven't gained much either, but having a great time doing it. Emotions are a double-edged-sword. Love the rollercoaster of emotions on one hand and trying to learn to control those emotions on the other. Plan to become an elite member next month and want to start my journal. The cost of entry is so low compared to the wealth of information available. It's all about "Value".
Although I am on the 2 year SIM trading and education plan, I review vendors from time to time. I actually tried to make this post on the "Vendors" forum, but due to not having any posts, could not start a new thread or make a reply. I get it. Rules. However, I still would like to know if there is any consensus here on futures.io (formerly BMT) if there are any reliable, believable, credible vendors??? For every single vendor that markets a product of any kind concerning trading material I can find a bad review, spam comment, or a plethora of negative comments. Are there ANY????
I think your question spans a wide array of answers, many which are subjective. There are as many vendors as there are types of vendors...for proprietary (or not) indicators, software, methodology's, automated strategy's, etc. In my experience there are some really great honest vendors, and plenty more that oughta be locked up. I think everything you need to start trading is right here on futures.io (formerly BMT)...and becoming and Elite member is the way to go as it will only give you access to more and better info. One thing I would say is that most vendors will give you a free trial, so take a test drive and see for yourself, if they don't offer it...then run!
hope this helps and welcome to futures.io (formerly BMT)!
The following user says Thank You to Devil Man for this post:
I started with the "Vendors and Products Review" section. That's where I encountered all the negative postings about almost all vendors mentioned. And if the thread/forum didn't say anything specifically negative, additional research found some type of "scam" or negative review.
I guess that I am not specific about the type of vendor. I'm classifying them all together. I have been researching live trading rooms, books, training courses, seminars, webinars, etc. The negative always seem to outweigh the positive responses.
I can assure you that I am not looking for a "holy grail". I'm just trying to learn as much as possible and want to be confident that what I'm learning has some value. Most of my learning is actually taking place while reviewing the previous days trading, post market activity, writing my daily trading plan, writing in my journal, and daily SIM trading. It's always amazing how I can have a well thought out plan and then trade nothing like my plan. Ha! Even when I'm trading I realize I'm going against the plan, but I can't stop myself. It's going to be a long journey.
I look forward to becoming an Elite member and contributing as I can. Thank you!
Becoming an elite member and having access to the webnars on this forum, is worth more than any vendor has to offer... tons of education in those webnars, on multiple trading approaches...all free for elite members.
The following 2 users say Thank You to sptrader for this post:
Your question is similar to asking which is the best movie out there? There is no one answer. That is why the reviews are what they are - an expression of peoples perception about the movie. Thats all. The movie might be really good and still some people wont like it or it may be really bad and some will still love it. I am trying to say that as far as trading goes, something that works for me may not work for you and vice-versa. Trading is a highly personalized profession in my opinion. If 100 people are given a trading method that has an edge, most will still not be able to make money out of it.
I guess what I am trying to say is that if you already feel like you have a trading plan that looks like it will work if you can bring yourself to be disciplined enough to allow it to, you dont need to look for vendors. Stick to what you have and make it better as time goes on. The less you change of what works, the better it is going to work.
The following user says Thank You to LogicalTrader for this post:
Thanks for the response. The more time I spend on futures.io (formerly BMT), the more I'm finding things that I need to learn, and then the more time I spend on futures.io (formerly BMT). I'm a little nervous about the information that will become available as an Elite Member, I'll never get anything done. Ha!
Here are a few starting out recommendations. I assume you are looking for cost-effective newcomer trading education. These vendors/educators/books have had substantial support by members on futures.io (formerly BMT) though one can't say there is definite forum wide consensus.
For learning price action:
Either Al Brook's original book, the new 3 set, or alternatively his video course.
and/or PATs by Mack.
Trading with indicators:
There are good webinars on using indicators in the futures.io (formerly BMT) webinars section. Some
notable presenters with examples of using indicators are Linda Bradford Raschke and Corey Rosenbloom.
There are intro to orderflow futures.io (formerly BMT) webinars by Jigsaw trading in the futures.io (formerly BMT) webinars section.
The "markets" books by Dalton.
Trading room/educational prop firm:
topsteptrader.com seems to have great support on futures.io (formerly BMT) and there are now several TST combine journal threads. Whether to join as a member, or try their live combines.
CJBooth's room/trading site: Not visible on futures.io (formerly BMT) currently. But at one time was voted top trading method taught on futures.io (formerly BMT). CJ had gone through many expensive vendors and came up with his own method. His track record posted on his site is up for individual interpretation.