His continuous & unabashed if somewhat less than slick self promotion is a little off-putting but I bought his course a couple of weeks ago out of curiosity, hoping to get a different perspective on my new obsession with short time frame spot Forex. I still consider it a worthwhile investment for me personally at this stage and perhaps cheap at a multiple of the price for traders in a similar situation (needing reassurance that potentially a programmable strategy does exist for short time frame spot Forex), as long as they are able to actually learn his methods & follow them to the letter--rule # 1 when system trading; namely stick to the rules long enough for probabilities to kick in, which can take months.
I don't mean to shill and this should not be construed as a recommendation but ..... I also trust his 90-day money back guarantee even if I have no intention of testing it--the info I purchased has already paid for itself--simply because I tend to "buy [what I perceive to be] the man" (even the politician on rare occasions) rather than the promises and so far Barry Burns appears to be the real deal. Also, a back of the envelope calculation suggests to me his traveling dog & pony show alone may pay him in the 6-figures, and that's without knowing what NT is paying him as a sponsor to flog their platform, which seems to support his claim that as a long-time profitable trader and self-styled educator he can afford to do what he wants to do, and appears to be legitimately qualified to do.
Edited to add: personally (familiar with the rudiments of C# & NT indicator development) I wouldn't buy his indicators since they're easily programmable
Last edited by bnichols; October 17th, 2011 at 11:31 AM.
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I bought into his foundations course 1 and 2 some years ago. I also subscribed to his video newsletter for a while. He recorded a few live sessions but always seemed to scratch out, and his regular review videos consisted of scrolling back and forth on the "left side of the chart" and would even fudge his "rules". I lost money with his system. I was over leveraged, so part of that was my fault. But his 5 energies system did not work short term or long term.
There is a little value for his course and materials for the beginner if you don't mind paying a few hundred on how to learn to use the stochastic indicator and learn about divergences. And he does have a pleasant , friendly teacher's demeanor in his presentations and has done a lot of amalgamation of trading material out there to create his own lessons for beginning traders. But to this day, I don't believe he trades or is a successful trader outside of his educational product. Since then, I've seen real traders make profitable trades live, and I never saw that in his live recorded videos. You can find good working systems right here on futures.io (formerly BMT) such as Perry, ESFX, Al Brooks, CJBooths, Italian Job, or Fat Tails, and others that are far superior to the "5 energies" system.
Last edited by Cloudy; October 18th, 2011 at 03:09 PM.
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Well, BB has a GoToMeeting webinar coming-up tomorrow, in which he'll give away his "free indicator for pinpointing entries with Swiss clock precision." He says it's already in your trading software, but needs his (not the default) settings.
I assume, from this thread, it's Stochastic, and am wondering if any of you already know the inputs.
And, if anyone's interested, here's a link for the webinar - I got via e-mail:
This is a followup to a post I made last year about TDT.
I no longer use his indicators or follow his trading methods. There are much better free indicators and methods on this
website than what TDT offers.
Emailed him a couple of times about seeing some of his live trades and kept getting BS about too difficult to trade
and narrate at the same time. However, he doesn't seem to have a problem talking and using replay mode to
trade. Soon after purchasing his course the calls started wanting me to pay several thousand dollars to receive
private tutoring, seems like a never ending cycle.
There is some value in the TDT trading courses but there is more in an elite futures.io (formerly BMT) membership.
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An update from me too. I noticed topdogtrading no longer has the "price action course". Check out forexpeacearmy reviews of tdt. No wonder, I remember seeing the outline of the price action course which looked almost like a point by point table of contents for Al Brook's original book. I remember I got the spam emails where BBurns kept saying the price action course is opening soon, as he was still doing his "research", no doubt trying to sift through Brook's hard to read personal jargon, lol. This site is a "regurgitator" site similar to anything by Mark Deaton. You got invites to private tutoring costing thousands? Amazing! That's news to me. I guess elitetrader and forexpeacearmy has done some good and really helped people be more informed in the past couple of years. Agreed, for sure you get ten times more value with a futures.io (formerly BMT) elite membership.
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I just watched a recording of his webinar. The stoch input is %D 3, %K 5, smooth 2, displacement 0, use 20/80 for oversold/overbought, and calculate on bar close FALSE. This is a free video, so I don't think I am giving away the store
My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
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