Another scam course? or am i just skeptical AF
- Thread starter Stocktis
- Start date
You have to be self centered to not sell and help other people do well. Why are you against helping other people? You can make money from your system and help others at the same time.
Well I view it like this, if you spread your system too widely, then it becomes ineffective.
Courses based on logic, concepts, and not systems are in a different ballpark I think. And of course there are purely technical topics, which I think every trader should know about.
So there are many valuable courses out there too, I agree. And many, especially outside of finance, just want to monetize their passion for teaching.
However there are differences in courses. I think if someone is offering a course where they promise that “any idiot” can make money, then something is definitely off there. It is at best something profitable in the short term, but most likely a cash grab in that case.
Last edited:
The thing with several accounts is not that bad, given in a Margin increase event you were forced to sell stuff you didn't want to. I actually do kind of this method myself but only to distinguidh between investing, trading equity, commodities and forex. The strategy he descrobes is a reversal to the mean strategy however (that's what I read from the indicators) which is a valid strategy, however trading based solely on indicators is most likely to fail, because algos can do that fully automated and leave minimal to none crumbs on the table.
im on the younger side here on the board, so I don't know anything about iras, but I know it can generally be advantageous from a tax perspective to separate your tax deferred IRA from your other holdings.. which ofc will limit the types of trades/instruments/strats you can employ in said portfolio. going further than that, its also common to have accounts @ different brokerages, as some brokers excel in areas where others do not - which again, limits the strats you can run in each account. that being said, his 'advice' speaks to none of that, and just seems like some arbitrary convention that he prefers (but which conveys no benefit)
nothing wrong with options trading, but id bet money it doesn't contain anything of value and simply lists a variety of option positions one can structure under the misleading premise that merely knowing these structures provides some sort of edge and will "limit your downside" (news flash: it doesn't).
outside of that, long stock + covered calls without any asset timing mechanism behind it is simply a levered index portfolio (and is much riskier than simply adding leverage to your portfolio), and I can say with certainty that whatever potpourri of technical indicators he's serving up to you most certainly doesn't work.
in conclusion, 0/10, as is par for the course in the "financial education" space
nothing wrong with options trading, but id bet money it doesn't contain anything of value and simply lists a variety of option positions one can structure under the misleading premise that merely knowing these structures provides some sort of edge and will "limit your downside" (news flash: it doesn't).
outside of that, long stock + covered calls without any asset timing mechanism behind it is simply a levered index portfolio (and is much riskier than simply adding leverage to your portfolio), and I can say with certainty that whatever potpourri of technical indicators he's serving up to you most certainly doesn't work.
in conclusion, 0/10, as is par for the course in the "financial education" space
Any profitable trading system is only profitable because it exploits an edge. If everyone begins exploiting an edge in a zero sum playing field the market will adjust and remove that edge leaving both the students and the teacher left holding the bag (pun intended).
Two things…
1. The people who buy trading courses, are not the people that will be able to move a stock, unless it’s super thin float, and you don’t want to trade thin floats anyway
2. The vast majority of people who buy a trading course will never properly implement it.
I have to admit, I’m one of those guys who could easily get sucked into paying for trading services, courses etc. I’m new and always looking for ways to learn. So far I’ve been able to fight off the urge.
My library paid $14.99 for this hard-cover book (yeah, it's from dot-com bust era). Seems to be right up the alley of people claiming their $2 - 4K courses can teach you the same.
Note, I am not saying this is a GOOD book... just saying.
Note, I am not saying this is a GOOD book... just saying.
I personally took this course and can say it’s a great introduction to the markets, seasonality, and having a trading plan.
But after that, it failed me in so many ways that it left a bad taste in my mouth to never want to trade again.
He pushes a paid trading chart platform called QCharts and claims to not get any paid affiliations. His edge also gives you bad entry on H&S, inverse H&S, double bottoms, and double tops. These are the two biggest trend reversals I know of and was trading ignorant to them for several years trying to use his edge.
During the beginning of the bear market, I saw the market was going to collapse and was in a monthly tutor class he marketed. At that time, I wanted a big put position and they kept saying that it went against seasonality so do not trade down, it’s not the time of year to short. They failed to mention anything about raising interest rates and their effects until after the fact.
When I first took the course, he was very anti crypto. Recommended not to touch it. And not going to lie, they started teaching crypto trading along with the stocks during the bear market. This made me very skeptical - No short positions at beginning of bear market and pushing crypto trading when it all was going to shit.
He upsells another course called FastTrack for $7K for people who already took the $2k course. It makes you feel like you need him to become a better trader once you dedicate to his edge.
The first couple years, I was very excited and recommended his course because I did find his course to have a lot of beginner truth. But after application, and seeing how it’s failed great opportunities that he tainted my vision from, I do not recommend his course.
But after that, it failed me in so many ways that it left a bad taste in my mouth to never want to trade again.
He pushes a paid trading chart platform called QCharts and claims to not get any paid affiliations. His edge also gives you bad entry on H&S, inverse H&S, double bottoms, and double tops. These are the two biggest trend reversals I know of and was trading ignorant to them for several years trying to use his edge.
During the beginning of the bear market, I saw the market was going to collapse and was in a monthly tutor class he marketed. At that time, I wanted a big put position and they kept saying that it went against seasonality so do not trade down, it’s not the time of year to short. They failed to mention anything about raising interest rates and their effects until after the fact.
When I first took the course, he was very anti crypto. Recommended not to touch it. And not going to lie, they started teaching crypto trading along with the stocks during the bear market. This made me very skeptical - No short positions at beginning of bear market and pushing crypto trading when it all was going to shit.
He upsells another course called FastTrack for $7K for people who already took the $2k course. It makes you feel like you need him to become a better trader once you dedicate to his edge.
The first couple years, I was very excited and recommended his course because I did find his course to have a lot of beginner truth. But after application, and seeing how it’s failed great opportunities that he tainted my vision from, I do not recommend his course.