I understand how a newb might be interested in taking free trials to a couple of so-called educational service rooms, but to drop several thousands of dollars to join one is an act of ignorance given the overwhelming number of horror stories from ex-sheep (customers).
Take that to heart.
Last edited by Zoethecus; May 6th, 2010 at 10:12 PM.
Real simple. Before you purchase, get the phone numbers of 6 customers who have been successfully using the method for at least 6 months. Be very clear, if you intend to trade full time, then you want to speak with full time traders. If you intend to trade part time, then you want to talk with part time traders. If you get any kind of song & dance about not wanting to share personal information, etc., then put you hand on your wallet and squeeze - don't let a single dollar slip away. Further, you don't need to waste your time talking to someone who bought the course last week and had a winning trade on Friday - that means nothing. If you like what you see in the room, and get at least 6 nice conversations under your belt from folks who are successfully implementing the method, it might be worth a go.
For what it's worth, and I know this is completely unsolicited advice, but here is my recommendation. I'd take whatever money you planned to shell out for education and put it in a small account. Bring up a chart with no indicators and watch price for a month, every day, no trades. After a month of screen time, when you feel the market is going up, get long, when you have profits take them. When you feel the market is going down, get short, when you have profits, take them. Do that for a month on sim. At that point, you'll be ahead of 90% of your competitors. Finally, start trading with 1 contract and plan on spending your entire "educational" fund. In other words, don't be surprised if you take some losing trades - it happens. The good news, is that it's not that complicated. But there are plenty of courses out there that will have you looking at divergence and oscillators and red / green arrows and moving averages, etc. etc. Watch the charts, observe price. When it's going up, buy. Going down, sell. When you have profits, take them. Wash, rinse, repeat.
The following 4 users say Thank You to timefreedom for this post:
I attended three of the 1 - 2 hour webinars last week. The 1st one was on the ES. The moderator placed one trade for a 1 point profit. The 2nd day was on the 6E. The moderator placed a trade and the trade was never talked about again. It was a loser. All the moderator talked about till the end was her current winning trades and the usual promo stuff. I texted the moderator about the status of the trade and never a got an answer. The 3rd day was on the ES and was the same moderator as the 1st day. He took five trades which netted out for 1 point profit, not including all the commissions. Based on the results I for one wouldn't be buying this method. Also the webinar had the ES moderator on camara while he was speaking but it was turned off while taking the trades. Interesting!
reading "trading for a living" and the guy who wrote (dr elder i think) is a genius . in the book he says all these guys (black box system salesmen) are crooks and you are definitely better off buying a few books and learning it the hard way. couldn't be truer
I have read some good comments on TI and some bad. I guess that is to be expected.
Here is my experience with TI. I took the course in '07. I had about two years of trading under my belt at that time but was not making any money (about break even). I had taken two other courses prior to joining with them. They were ok courses but did not make me a profitable trader.
After i finished the course with TI (4 months) I was still not making what i wanted but doing better than before. I kept at it for the next year (while still having a job) and kept trying to apply what i learned. Now I trade full time and I am making pretty good money. I got something out of all the courses i took but I believe TI gave me the best tools to do this full time.
They offered me a 3 day free trial. I spent a total of about 6 hours in the room , two hours each morning. They made money every morning i was in there. I also took a couple of their free webinars. I like what I saw. I am going to enroll based on what I witnessed in the rooms. Most likely after the new year.