Quote from luke24.5:
I don't know what IOAMT charges now, but I was in it for a couple of years. While I wouldn't say BD is a great teacher, or even a good one, I don't think he's a scam. I know for a fact that his methods work. He's reading the order flow and when I was there he used MP levels for entries. He also trades his own money. A noob is probably not going to learn to trade discretionary methods consistently in a short time. That's not Bill's fault.
Also, Bill just taught a method. He did not call trades which is what most people seem to want. It seems to me that too many people want someone else to be responsible for their losses. I've known several people (self included) who use methods they learned from IOAMT.
The only thing I was taught by Bill that I reject and would discourage others from adopting his is his scaling entries. One bad loss can whipe out a lot of wins, Not mny style and if you're under capitalized, it can wipe you out before you get started.
Quote from dandxg:
I have only seen 2 educators that will show their DOM, the rest are trading on the stimulator. TradeTheMarkets ain't much better trading with 1 0r 2 contracts.
Quote from austinp:
imo there are two main benefits for someone to attend a live trading room: validation and education
Showing a live dome is part of the validation process, it solidifies hope = faith = belief that something can work and actually does work.
However, the other edge of that sword is people tend to fixate on the dome long-term and tune out what's happening on their chart. They need to learn reading the chart, anticipating the setups and trusting the execution on their own without following a "leader" who enters first.
So imo it's valuable to run a live trading operation short-term for brief periods of time to validate and solidfy belief. That serves one purpose for value. Long-term imo it's more important to mark up streaming charts, show where AND why a setup is actionable, discuss options for entry - stops - exits, etc
The surest waste of time for any live room is trying to be a signal caller that subs are supposedly expected to follow along and take the trades in blind faith, robotic fashion. That has never worked, can never work and will never work because of basic human nature regardless whether any room leader makes profitable calls or not.
Fact: trading is a damn tough business which takes time, effort, more time and more effort to master than anyone ever expects in the beginning. Lots of different paths to that end result, relatively few people make it there from all the half-hearted attempts that try.
Quote from startraitor:
No response? Hello NFA, educator makes claim to have fund. go fish?
http://www.nfa.futures.org/basicnet/Complaint.aspx
startraitor
Registered: Jan 2008
Posts: 2761
03-19-11 10:07 PM
You have no active status and you have a fund? Even if you are exempt you still have to register as such. Help us here mighty torpedo of trading enlighenment!
http://www.nfa.futures.org/basicnet...CgGVTEg=&rn=Y
as for austinp, i will be doing an investigation. He maybe doing something illegal managing funds as a non registered