no, just 90-95% of them.
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Are all trading courses scams?
- Thread starter eagerbeaver
- Start date
yea, like how would we ascertain that you're a trader for example? suggest a good way. like maybe you would let us see your brokerage statements? or..?
Quote from ProfLogic:
Is comparing something primarily physical (playing the piano) with something mental and visual (trading) fair & accurate?
I took piano lessons for 8 years and still play. I never could have learned to play a piano without constant interaction with the instrument. I have taught my self to trade in about the same 8 year period of time and done it watching and researching the Markets in from of a computer screen. Correct me if I am wrong but isn't the web viewed on one of them?
I agree that a majority of courses are worthless but there are a few that offer some worthwhile information. You just have to make sure the person that teachs the course or offers the information is a trader as well as an instructor. Also make sure the course is well rounded, offering trade & money management and ongoing support.
Why would anyone wish to see Bill Schamp, Logic Master and ProfLogic's statements? His journal said it all!!!
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Quote from sunnyskies
yea, like how would we ascertain that you're a trader for example? suggest a good way. like maybe you would let us see your brokerage statements? or..?
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Quote from ProfLogic:
Is comparing something primarily physical (playing the piano) with something mental and visual (trading) fair & accurate?
I took piano lessons for 8 years and still play. I never could have learned to play a piano without constant interaction with the instrument. I have taught my self to trade in about the same 8 year period of time and done it watching and researching the Markets in from of a computer screen. Correct me if I am wrong but isn't the web viewed on one of them?
I agree that a majority of courses are worthless but there are a few that offer some worthwhile information. You just have to make sure the person that teachs the course or offers the information is a trader as well as an instructor. Also make sure the course is well rounded, offering trade & money management and ongoing support.
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Quote from sunnyskies
yea, like how would we ascertain that you're a trader for example? suggest a good way. like maybe you would let us see your brokerage statements? or..?
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Quote from ProfLogic:
Is comparing something primarily physical (playing the piano) with something mental and visual (trading) fair & accurate?
I took piano lessons for 8 years and still play. I never could have learned to play a piano without constant interaction with the instrument. I have taught my self to trade in about the same 8 year period of time and done it watching and researching the Markets in from of a computer screen. Correct me if I am wrong but isn't the web viewed on one of them?
I agree that a majority of courses are worthless but there are a few that offer some worthwhile information. You just have to make sure the person that teachs the course or offers the information is a trader as well as an instructor. Also make sure the course is well rounded, offering trade & money management and ongoing support.
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Quote from SteveD:
In all seriousness folks, if one pays around $100,000 for a average 4 year degree from college it seems a little silly to balk at paying $2500 to learn how to make some real money.
One good idea will return that $2500 in 5 days.
What about IBD's trading course with Bill O'Neill?
David Nasser? Pristine? Don Bright?
Anyone ever taken any of these and can give an intelligent critique on them???
SteveD
Pristine has not at all proven itself to be dishonest or unrealisitic to me. They offer guidelines to trade different timeframes and with some experience, common sense and money management, you can make money.
Apparently they began as novice traders and worked it until they made it. So - at least they know of what they speak. Open thier books and then look at a live chart. You will find more examples of it working than it failing, thats called an edge and thats one piece of the puzzle in trading.
96% of traders are not going to make it. No course can turn you into that 4% alone. A lot of it comes from within.
Yes, I plan to be that 4% and I am a work in progress. I like Pristine but also use other ideas that prove themselves to me in realtime market activity.
I enjoyed your reviewers reviews Thunderdog and found myself agreeing with much of it including his apprecaition of Mark Douglas and his concerns about Ari. I shall dig my copy of TraderVic out and give it its first rereading in 5 years.
On the original topic "are there any good courses out there?" I have to say that I haven't ever taken one (self, gruellingly taught trader here) but a couple were highly recommended by the folk at Tim Morge's Andrews Median Line site and mail group.
Trend Dynamics, and
R. Maynard Holt.
I did correspond with Maynard a bit and regret not taking his course (I was doing something else at the time).
On the original topic "are there any good courses out there?" I have to say that I haven't ever taken one (self, gruellingly taught trader here) but a couple were highly recommended by the folk at Tim Morge's Andrews Median Line site and mail group.
Trend Dynamics, and
R. Maynard Holt.
I did correspond with Maynard a bit and regret not taking his course (I was doing something else at the time).
Somewhat off topic in that I am not making an opinion regarding whether trading courses are scams or not, but here is a link I received for renting over 500 trading seminars and courses instead of having to buy them.
http://www.thetradersresource.com/services1.htm
http://www.thetradersresource.com/services1.htm
Eddie Toppel (Samuraitrader, author of "Zen in the Markets") teaches an excellent one day seminar where he discloses a profitable backtested system. I took it. He is the real deal. Trades for himself and for other people. Now you have to decide if I made that up, an lying, shilling for him, or telling the truth.
the worst thing about trading courses, even if they are not scam, is the method of teaching that is being used.
the author of the course has a primary purpose and that is not to make you a successful trader, but rather to sell his course.
in order to sell his course and in order to distinguish himself from the competition, a course author almost always uses slogan words and gimmicks. for example: "the three crows candles setup". "the butterfly fibonacci reversal". and so on. slogan words sell quickly. simple boring explanations of price behavior do not.
this trains the trader to think in "black boxes logic", instead of truly understanding the dynamics of price movement. "here's a fibonacci crow reversal, i should go short at the 1.618". however the trader hardly understands what he's actually doing, or why!!
the trader will end up needing to undo this damaged state of mind eventually, if he ever wants to be successful.
many would have been successful traders if it wasn't for their extensive 'education'.
so long
50
the author of the course has a primary purpose and that is not to make you a successful trader, but rather to sell his course.
in order to sell his course and in order to distinguish himself from the competition, a course author almost always uses slogan words and gimmicks. for example: "the three crows candles setup". "the butterfly fibonacci reversal". and so on. slogan words sell quickly. simple boring explanations of price behavior do not.
this trains the trader to think in "black boxes logic", instead of truly understanding the dynamics of price movement. "here's a fibonacci crow reversal, i should go short at the 1.618". however the trader hardly understands what he's actually doing, or why!!
the trader will end up needing to undo this damaged state of mind eventually, if he ever wants to be successful.
many would have been successful traders if it wasn't for their extensive 'education'.
so long
50
Quote from sunnyskies:
no, just 90-95% of them.
except mine! i conduct an exceptional trading course, 2 hours only that teaches you EVERYTHING you need to know to be consistently successful. for as little as $10K fee!! imagine.
BEWARE! there is a lot of scam out there. but mine is not. i promise. really.
space is limited. hurry up!
50