Financial Advisor needing advice for client

D

dwitherell

Hello!

This is my first post, and have to say, I'm impressed with this board. I've been reading the threads (doing my due dilligence, if you will), for a few weeks, and saw some really good advice given to new traders! Seems like many of your senior members take the same approach I do when managing my client's money, who I care about: looks like risk management first; rturn second is the theme.that's great!

My question, and I'm embarrased to ask due to my former wire-house position as a Series 7 Stockbroker, and Series 66 Investment Advisor Rep, and my current status as an Independent Advisor, affiliated with a B/D, and RIA. Let me get to it:
I have a client who really wants to day-trade S&P E-mini's with a very small portion of money for him; about $20,000. This isn't retirement money. Excess cash... Must be nice!
He has asked me where to go for the training, and all I can find is a bunch of garbage for $1,000-3,000. I found a course by a guy named Todd Mitchell that looks enticing. Just looking for some advice. Thanks!
 
I've heard some good things about coiledmarkets.com. The owner posts on here under his real name, AustinP. ( a real novelty, for sure ).

His posts to this board are well thought out and usually make sense, which is more than can be said for many others here.

Good luck~
 
Don't go the 'training' route, go the software route.

Tell 'him' to open a demo trading account -
go to the library for trading etc books etc -
read forums particularly e-mini trading Journals.

Go to TopGun software for example and watch the
Forex and Futures movies, they have training for fx
trading but not for e-mini for some reason even tho
there's little difference between trading fx v e-mini.

Visit e-mini broker sites and review the software they
offer and tell him to take notes and keep a journal
otherwise he'll never remember all the info he'll collect.

All software can be trialed for free, Menu/Software
here on ET and review what's listed as well as using
Search.
 
Quote from dwitherell:

Hello!

.... found a course by a guy named Todd Mitchell that looks enticing. Just looking for some advice. Thanks!
More...
:p


use search button here to get more idea about him, there is better training imho.
 
Quote from Wallace:

Don't go the 'training' route, go the software route.

Tell 'him' to open a demo trading account -
go to the library for trading etc books etc -
read forums particularly e-mini trading Journals.

Go to TopGun software for example and watch the
Forex and Futures movies, they have training for fx
trading but not for e-mini for some reason even tho
there's little difference between trading fx v e-mini.

Visit e-mini broker sites and review the software they
offer and tell him to take notes and keep a journal
otherwise he'll never remember all the info he'll collect.

All software can be trialed for free, Menu/Software
here on ET and review what's listed as well as using
Search.
More...

Ya, e-mini is very similar to stocks.
 
I appreciate the advice. I relayed it to him. The last client I had that wanted to daytrade a % of their cash reserves walked into scott trade to open the account...

I told him "they'll be calling you soon wanting to talk about your retirement account." Wasn't even a week, he was getting calls.

Since he lost ALL of the $ he traded with, he's found a new hobby :p
 
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