I must concur...great post. Although I've never paid money outright for a system, I have incorporated many trading ideas into my own trading from various books and trading magazines over the years. What have I learned? The same thing as you learned...the system has to make sense to YOU, the trader. And, like you, I've also learned the hard way that simpler usually IS better. You really can take an old idea, put your own twist on it, and make money if you are dedicated and consistant in your execution.
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Before you spend $1 on a system read this.
- Thread starter Samson77
- Start date
I too have subscribed to
2 services.....lost money on them
1 black box.....dreadful signals, lost a lot of money
30 cheap tapes......got a little out of each one
100+ books....got a little out of each one.
3 expensive tapes.......worth every penny of $200, but cost $2,000
I think everyone needs an education. And we will not know how good or bad something is for us until we try it. We learn from good and bad experiences.
Some of the prices I see being charged for seminars are ludicrous. Websites for $300 or more a month.....And often I see the same ideas being presented in much less expensive books.
Trading is not something they teach in college. Too bad.
2 services.....lost money on them
1 black box.....dreadful signals, lost a lot of money
30 cheap tapes......got a little out of each one
100+ books....got a little out of each one.
3 expensive tapes.......worth every penny of $200, but cost $2,000
I think everyone needs an education. And we will not know how good or bad something is for us until we try it. We learn from good and bad experiences.
Some of the prices I see being charged for seminars are ludicrous. Websites for $300 or more a month.....And often I see the same ideas being presented in much less expensive books.
Trading is not something they teach in college. Too bad.
Quote from Samson77:
As I reflected on the last 2 years and all the money that I spent on different trading systems, which ranged in prices from $100 books to $7000 seminars. The grand total is $40,000.00 then add to that $60,000 dollars in trading (losses) trying most of it out in the real world.
Could you expand your post a little with some specifics.
What systems did you buy? Futures, bonds, equities, etc? Save someone here some money would ya?
and 7K for a seminar? Whose seminar?
Also for that kind of $$$ why didn't you just buy a system ranked on Futures Truth that would have met your criteria.
Am also interested in what you bought or saw or listened too that did have value.
More Details would be appreciated.
Cheers.
I have never spent money on a system because a packaged system sounds too much like selling someone snake oil. I have however spents several thousand dollars on trading books, courses and seminars. There is not one purchase of knowledge that I regret. Although some purchases were much better than others they all contributed to the trader I am today. I think it was cheaper in the begining to learn from others than to learn all the hard lessons with my own money. No book, seminar or course on its own was the holy grail but the total body of knowledge was worth the cost. In that vein can anyone recommend a book on daytrading equities or futures written in the last year that they enjoyed. I am low on reading material.
Quote from Samson77:
Over the last 6 months my trading has become profitable (not totally consistent yet) but none the less very profitable.
As I reflected on the last 2 years and all the money that I spent on different trading systems, which ranged in prices from $100 books to $7000 seminars. The grand total is $40,000.00 then add to that $60,000 dollars in trading (losses) trying most of it out in the real world.
I hope this helps everyone and I wish ALL prosperous and good trading.
Great Post! Well my wasted money so far on software/systems about $5000. The time spent trying to master them - hundreds of hours. The money lost using them - maybe $10,000. I feel I got off very light.
Samson, it is amazing you have been able to turn all this around and now become profitable. fantastic.
Please keep writing about what is working for you.
seminar on bond intraday futures trading
( do not want to name the teacher , but he has been written
about in market wizards , and some trading magazines)
I lost a few grand trying to trade one of his methods
perhaps it is my fault as I am sure I do not have the discipline
he has
I am doing better now trading bond / notes using my methods
instead
( do not want to name the teacher , but he has been written
about in market wizards , and some trading magazines)
I lost a few grand trying to trade one of his methods
perhaps it is my fault as I am sure I do not have the discipline
he has
I am doing better now trading bond / notes using my methods
instead
The name of a book he wrote wouldn't have 'logic.. in it?Quote from SethArb:
seminar on bond intraday futures trading
( do not want to name the teacher , but he has been written
about in market wizards , and some trading magazines)
I lost a few grand trying to trade one of his methods
perhaps it is my fault as I am sure I do not have the discipline
he has
I am doing better now trading bond / notes using my methods
instead
I'd be wary of relying on "Money Back" guarantees. What are your remedies if they refuse to honor it? You can't justify filing a lawsuit for a few thousand dollars, and even with a court judgment it's not always that easy to collect.
Quote from nitro:
You have learned a great lesson. Ugh, too bad it was so expensive.
FYI, there are systems that work (50% + a year.) You will _never_ see them.
nitro
So true....in fact the one I am trading will never be sold publicly...why would I? ..it's making great returns...I am dubious of "any" tool/system that is being sold to the general public...great thread....
rttrader1 -