Caveat Emptor

[imgunn 10]

Crooks are everywhere, need to watch out.

[Mavrik00 10]

I completely agree with the statement that you DO NOT always get what you pay for.

 

I have heard educator after educator tell me that their course is priced so high because it works, when in reality, a profitable course would give the educator every reason in the world to DISCOUNT his methods to get more people involved.

 

The bottom line: there isnt a magic course out there or a magic auto system that will work for your trading...they dont exist...at least not for a long term. they may work today, tomorrow and next week...but one day you WILL give your money back to the market if you dont learn to trade YOURSELF.

 

You will one day realize that YOU can trade better than any computer can, and hopefully you realize that BEFORE you spend money on an automated system that delivers bad signals.

 

To do this, you need to watch and trade a LIVE market as much as possible.

 

Repeat after me: I will focus on the market and only the market while i trade, and i will use the simulator with the goal of replicating REAL LIVE TRADING as much as i can.

 

Get a simulator from Ninja Trader with Zen Fire Data, its free, and its awesome!

 

then start by watching the charts and looking for patterns

 

watch carefully only 1 timeframe on 1 market, using only simple indicators, momentum, movign averages, and maybe some trendlines, thats it....until you learn a little about how price moves and why....then you can litter your charts with those gizmos...which you wont need....but you wont beleive me....so do what you please :)

 

Once you watch your charts, you need to find a mentor, someone who can help save you the trial and error you need to be successful.

 

this mentor doesnt need a flashy website, and doesnt need to charge you a dime, although those are hard to find, but remember, a $10,000 system will likely work WORSE than a $2000 system...so buyer bware.

 

Ive shelled out WAY too much money in the recent past lookign for the best education money can buy, and I would be more than happy to relay my experince to you all.

 

I can refer you to a quality broker that can set you up with Ninja and FREE Data, and I can also provide feedback on the many (dozens) of educational courses i have used in the past.

 

Hope it helps guys!

 

Mav

Edited March 18, 2009 by Soultrader

[DbPhoenix 42]

I completely agree with the statement that you DO NOT always get what you pay for.

 

*snip*

 

Send me a PM if you want to ask any more questions.

 

Mav

 

Checked out your website. Can I really become a professional trader in only 30 days? How much does it cost?

[jonbig04 10]

30 days!?! Where do I sign?

[CrimeStopper46 10]

I completely agree with the statement that you DO NOT always get what you pay for.

 

I have heard educator after educator tell me that their course is priced so high because it works, when in reality, a profitable course would give the educator every reason in the world to DISCOUNT his methods to get more people involved.

 

The bottom line: there isnt a magic course out there or a magic auto system that will work for your trading...they dont exist...at least not for a long term. they may work today, tomorrow and next week...but one day you WILL give your money back to the market if you dont learn to trade YOURSELF.

 

You will one day realize that YOU can trade better than any computer can, and hopefully you realize that BEFORE you spend money on an automated system that delivers bad signals.

 

To do this, you need to watch and trade a LIVE market as much as possible.

 

Repeat after me: I will focus on the market and only the market while i trade, and i will use the simulator with the goal of replicating REAL LIVE TRADING as much as i can.

 

Get a simulator from Ninja Trader with Zen Fire Data, its free, and its awesome!

 

then start by watching the charts and looking for patterns

 

watch carefully only 1 timeframe on 1 market, using only simple indicators, momentum, movign averages, and maybe some trendlines, thats it....until you learn a little about how price moves and why....then you can litter your charts with those gizmos...which you wont need....but you wont beleive me....so do what you please :)

 

Once you watch your charts, you need to find a mentor, someone who can help save you the trial and error you need to be successful.

 

this mentor doesnt need a flashy website, and doesnt need to charge you a dime, although those are hard to find, but remember, a $10,000 system will likely work WORSE than a $2000 system...so buyer bware.

 

Ive shelled out WAY too much money in the recent past lookign for the best education money can buy, and I would be more than happy to relay my experince to you all.

 

Send me a PM if you want to ask any more questions.

 

I can refer you to a quality broker that can set you up with Ninja and FREE Data, and I can also provide feedback on the many (dozens) of educational courses i have used in the past.

 

Hope it helps guys!

 

Mav

 

This thread is NOT to promote your education business Mav.

Keep up the chatter I am working on a part II from another popular vendor.

[Kramnor 10]

Crimestopper46 wrote an objective review of Puretick a/k/a Allen. I appreciated his review and even though I have been a member of Puretick since November, I agree in part of his review. I am writing this for anyone who may want more objective information.

 

First Puretick has two objectives, one is to teach us so we can leave the room and trade independently. Second, to buzz trades for us to trade along with Alex.

 

The buzzing of trades did confuse me in the beginning and at times I would get angry when he was getting out when I just got in. Alex has listened to room members and has been buzzing trades with more clarity. He may verbally announce that he is buzzing a trade but to put a limit order in or wait for a blue or red Heikin Ashi to enter.

 

In February, I actually wrote the price down at the time of the buzzer and compared it to the track record. I saw maybe one or two per week that were more than a couple ticks from my record. Thus, there has been great improvement.

 

I also, learned that when he writes "possible buy" or "possible sell" I need to access the situation and enter the trade when I think it is appropriate, even beating the buzzer.

 

This leads to how education will make us a professional trader, knowing when to enter the trade before the buzzer, or maybe passing up on the trade if the stops are too large.

 

Alex mainly teaches us to identify what prices would bring panic either to the longs or shorts. This is where we should jump aboard.

 

We don't need any of his indicators for this. It is looking at the charts and price action.

 

His skill at reading the tape is something I have only seen equaled with Hubert Senters. This is my main goal, to learn to be an expert tape reader. It gives the best and earliest price to enter the trade.

 

I don't own any of his indicators because he explains in detail what it is so I get the same information looking at the chart.

 

Lastly, I joined his room because he has over 150 videos to watch for free. After watching most of them, I understood his method and joined the room to see it live.

 

Personally, I trade only 1 contract 90% of the time. I usually am selective on where I enter and usually only go in on limit orders above or below the market. I do miss some trades.

 

Like what Crimestopper wrote about adding to a losing trade. Only if it is with the trend is it acceptable to add to a trade going against you. Never move your stop, only add between your entry price and the stop.

 

This is what I have learned and observed from Puretick. With my one contract I have netted about $3,000.00 and may go to two contracts soon. My win percentage is 83%. With one contract I get out with 7 ticks. I need to trade a second contract to hold for a runner.

[Bobweiser67 10]

I have some experience with Puretick and would be leery of them. One trade in question happened on what he terms a "Keltner Day” Where price basically trades in a range, bouncing off the upper and lower bands.

Alex calls a trade to go long at something like 8509 on what looked to me like a breakout from a triangle, with adding a contract at 8500. The market proceeds to drop 26 points from the initial entry. A stop out for most everybody that may have taken the trade. While this is happening, Alex is not saying much, which I have found he does quite often when a trade goes against his call. So after the market has dropped what clearly looks like a stop out, he beings to say I am a scale up seller now. Which I am sure is confusing the room even more now. Is the long trade stopped out? and are you now short and scaling in, since he made no indication that he was exiting his long trades Then all of the sudden after the market had climbed back up to near 8500 you hear a buzzer go off that a target was hit. A target hit? What the heck are you talking about? Then when the market gets up slightly past the initial entry of 8508 another target hit buzzer goes off, and Alex says he is now flat, with a nice profit and will go into the track record. When someone finally asks what the heck just happened here, he states that he was in a scale down buying program. Scale down buying program? Are you kidding me? This was never even mentioned throughout the trade. He then says that this was all based on a Keltner Trade. I have no idea how this could be the case. On the initial call, price was above the 20ema and near the upper band. How could this possibly be a trade based on price being near support of a Keltner band or even the mid line? Based on the price and where it was in relation the bands it would make much more sense for it to be a short trade, not long. It was clearly, in my opinion, a breakout trade that had gone wrong and was magically turned in to some other type of trade that made money.

One other reason for concern is also this. He had a 3/10 oscillator on his chart, courtesy of a post from Linda Rashke on the TS forums. Someone in the room asked out it, he says it's an oscillator he now uses and will be selling it for $69. I was floored when hearing this. At least the guys at Trade the Markets re-coded the indicators they got from the Forums. This guy just downloaded the file, pasted his name on it and is now trying to sell it. He didn't even change the coloring on it, jeeez, at least put some neat bright colors on it. haha. And with that stellar track record, why would you need to milk people for 69 bucks?

In any case, not all trades are like the one I mentioned, but there are enough of these ambiguous trades to make you question the validity of this chat room.

So, for what it's worth, that is my experience with them.

[trader3672 10]

Here is the Monthly results from the Hedge Fund Alex is running. I think the results speak for themselves.

[jonbig04 10]

Here is the Monthly results from the Hedge Fund Alex is running. I think the results speak for themselves.

 

Wowza....................