Kenny1924

There are so many trading systems out there, that every one who sells it is making MORE money selling trading systems & training than making money using their own systems! It is the 'drink your own cool aid' concept that generally does not exist when the vendor themselves 'sell' under the auspicious of 'training or free consulting'. Not knocking anyone, but it has become the "university model" (have 2 kids in college right now)!!!!! Truly, if a system is good, you will find the programmer in Hawaii doing 10 min of auto-trading and enjoying the rest of the day. I have encountered some systems that are closed and under Auto-Trading-Model. Not saying Felton or EminiAcademy or Navitrader or ProTrader or Intentional Trader or Trading123 or TradeSafe or DTI or Market Tamer or Brain Trading or any of the 10 others that I have been evaluating are better than others - After attending multiple webinars of all of these folks, I feel they are made of the same branch of the tree as of Mar to Aug-2013 (my due diligence phase). What is common amongst them is what "we" traders need to learn? > Discipline, Fixed Process, Journaling, S & R, Simplicity, Starting Small, Sim First-Trial Next-Production Last and finally believing in Myself. Each of these Webinars talk about $4997 to $12965 if totaled up individually, but today (and only for 48 hours) it is $1999 to $2477 or something along those lines. Some differ from this model from the names listed above. All Universities make money......All Professors make money. Students might or might not get a job coming out of a 4 year college. Right? Well, in our trading business, this is an annuity stream for these guys with a large upfront fee for training, justifying their own expenses, team-members and pre-sales-pitches. Nothing wrong with it since it is their business model, but we have to be a 'skeptic', 'do our due diligence' and finally jump in small with a 100% COMMITTMENT. If one just does the multiplication of 1000 traders in a Live Trading Room at $150 per month, it is enough for them to sit back and enjoy! Remember all of these 1000 folks would have had to pay $1500 per person upfront! I could be wrong, since I am new! For me, the most important elements in a company are 1) Unlimited use of the Trading Room, 2) Free Lifetime Updates of Software, 3) Unlimited Access to Training, and a 4) Good cycle of SW Upgrades with New Features. Most IMPORTANT> All of this for ONE upfront fee, and no nickel/dime after that (on a monthly basis). Most of the names above DO NOT MAKE this cut!!!!! If I were you, I would see if they offer the above, and if not, keep searching...... Hope some of you will find the above comments useful (I've spent 30 hours a week for 4 months), since I am just a typical newbie coming in with a lot of hope, but walking the same path 99% of new traders do (as I now understand it). Lets see if I am a statistic of the 92% of Traders that fail, or am I part of the 8%!!!!!! One just never knows on the eventual outcome. Love the mystery. PS: I can afford to say all of the above since I will only be a part time trader at best for the next 5 years and have a steady stream of income from a corporate job. Best Wishes, Kenny

Buddy, I started a year ago, and instead of compiling these kinds of questions, I posted them to various traders and got some really good answers. That is when the journey really began. Of course, I had 25 years of investment experience that I am trying to convert to 'trading'. While I was doing this, I also wanted to hit the 'reset' button to learn new tricks of the trade. At the end of 1 year, I can tell you, I know a lot of tricks, have not performed any of the trick solo, but as I watch charts, I am able to interpret them by looking. Also, as the webinars are playing / replaying, I am able to predict a bit of what the trader / educator is going to say about the next thing that is needed before taking a trade. So, finally, I feel somewhat ready to do 'paper trading'. I am able to punt $10k to $25K to lose since I have made enough and lost enough in the markets not to worry about it (no sleepless nights), but I have learned that I need to start making $50 per day from this new venture. If I can do a consistent $50 per day, I think I can quit my full time job and make Trading a Living. I hope this conclusion and path that I have been on is right, cause it incorporates learnings from a LOT of ACTIVE and SUCCESSFUL traders. Now, I need to spend money, get the SW (Ninja probably), get some custom developed indicators (still undecided), and finally get the data feed. Brokerage account is open with $10K at IB and ready to roll. Each selection took me a while since there is a jungle out there now in this information oriented world.......it really is crazy if you open the pandora box of what used to be a simple word "Trading"!!!!!!! Good luck guys. Kenny

I have gone through a lot of blogs and forums to select the NinjaTrader platform for testing all of my new trading initiatives. I am building the Trading Plan, the Trading System/Methodology, and testing it all on NT7 platform. For my needs, this platform works out well, since I will be trading Stocks, ETFs and putting option positions on them. It seems to be a popular platform for ES, GL and other futures trading also, since most seminars gear the discussion to day and swing trading using these instruments. Just my 2 cents as a new trader but an old investor! :haha: Kenny