Why would , " an educated vendor" waist his pressures time , and give up his trading secrets For a monthly payment . This is not teaching dental work , it's trading , buying low and selling high.
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Pristine's Advanced Gap Strategies Course
- Thread starter kmgilroy89
- Start date
You are absolutely correct in this observation.
If one truly had an edge, the firm should be making money on their own money.
The number one issue with some of the largest successful hedge firms is guarding their edges, being very careful as to guarding their secrecy. Jim Simon comes to mind.
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However vendors are not going completely away.
There are going to be vendors, and what I am saying is that if they are going to be around, they need to shape up their "for real act" to a higher notch.
I hate government anything, and want less regulation.
What I do want is more legitimate vendors so that a lot of interest is created in the market place.
Yeah, I want a lot more stupid money in the market , so that even I can make money.
If I were a vendor I would have a real player in each category, with at least $100,000..in a Top Step Trader format. People would love this. And there would be more stupid money streaming into the marketplace, which hopefully I could grab more of.
If one truly had an edge, the firm should be making money on their own money.
The number one issue with some of the largest successful hedge firms is guarding their edges, being very careful as to guarding their secrecy. Jim Simon comes to mind.
...............................
However vendors are not going completely away.
There are going to be vendors, and what I am saying is that if they are going to be around, they need to shape up their "for real act" to a higher notch.
I hate government anything, and want less regulation.
What I do want is more legitimate vendors so that a lot of interest is created in the market place.
Yeah, I want a lot more stupid money in the market , so that even I can make money.
If I were a vendor I would have a real player in each category, with at least $100,000..in a Top Step Trader format. People would love this. And there would be more stupid money streaming into the marketplace, which hopefully I could grab more of.
Quote from Anmolsc:
...though the moderators and paul lange make a lot of money everyday trading gaps in the room.
Gaps often make powerful trade set ups, especially around earnings season.
However, keep in mind that moderators in chat rooms of firms that generate revenues through chat room fees or educational courses often use a simulator platform.
Pristine has been around awhile with a solid reputation. It is ultimately up to the trader on which set ups to take while watching a moderator call out trades in a chat room, regardless if the moderator is on sim or not.
One can always ask a firm before joining their chat room or paying for education on whether the moderators are allowed to trade live accounts or if they must trade in sim due to regulations.
Quote from TheWilling:
Vendors in general have a poor reputation because they have no proof of performance.
It takes all of 2 minutes to resolve a vendor's credibility.
Post some monthly statements.
Seeing how this is so simple, if one is not willing to do this, this simply means that they do not have them.
It would be very interesting for some government organization to check out the true performance of some of these vendors' actual statements.
What would you call a person who has been selling "how to profit" in the markets when they have no evidence of being able to do it themselves ?
I don't think there's a single vendor out there that is consistent in posting "Monthly Statements".
If there is please I would like to congratulate him or her.
This business is very rotten, it's full of rats. I was burned three times in the past with vendors, it was not until I finally started to discover things on my own and from the help of other experienced traders that I managed to find some consistency. but vendors ?
Forgive me if you are one, GUILTY until PROVEN innocent.
They are always hiding something.
- A poor system
- Their poor psychology
- Poor money management
- No actual trading
etc, etc.
Rats in the sewers is best analogy for vendors in the trading world.
I have not taken this Pristine edition of his gap course, but I have taken the similar course when he was at VCM/TeamTrading. It is a summary of what he did each morning preparing the gaplist and watchlist and then choosing the best gap to trade. It is much better than the previous gap course by Avery Meisner who is no longer with Pristine. Paul Lange's strategies are based on grading each gap according to his Tier 1 Tier 2 Tier 3 system so that the focus is on the highest probability trade. You still need to know how to prepare a gaplist and watchlist, and how to enter and manage the trade (TPM1 & TPM2). But to answer your question about wanting to learn how to trade gaps, this is a good course.Quote from kmgilroy89:
Has anybody taken this course? It's taught by Paul Lange and from searching on this forum people have good things to say about him. I'm not sure if I want to shell out $1500 to take this course though. I'm very interested in learning how to day trade gaps. If anybody has any other course suggestions I'm interested. Thanks.
It will be much better if you can actually watch him trade in the Pristine Method Trading Room. I don't believe listening to the lectures and watching the slides alone can be effective learning. By watching him trade live in a moving market and analyzing the gaplist and then taking the trades, you can experience the strategies in real time and sink in the lessons.
This was recently posted on another thread:
I was in the chat room when Oliver Velez said when to us all...."You are all my baby traders. I will never abandon you. This program is called "Trade for Life" for a reason. I built this co. because the main reason traders fail is they run out of money before they run out of anything else. I am here to control what you can lose and make sure all of you succeed if you don't give up. I am committed to you on that!"
All we needed was one person with a brain to record that(and I believe someone has it somewhere) and no jury in the world would feel any sympathy for him. Sadly it isnt me who had the savvy to record it but when he said it I was dying that I didn't have the knowledge to record chat-room audio onto my computer. Im still an Internet dummy and cant do it. The crime was many,many of his traders could have and should have done it.
As an aside....my first alarm bell came after Oliver Velez recruited the last bunch of guys before he closed the door, and one of the moderators said to us when we asked where Oliver is..."Oliver has started to learn how to play golf." Immediately an alarm went off in my head. You just recruit 200 new traders or more,and that's when you decide to take up a very demanding sport like golf???? I almost threw up. But months went by and everything was still OK so I thought maybe it was me. IT WASNT!
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Is this person Velez, the same person that worked with the current owner of Pristine for several years ? Seems like they made a lot of money together , no ? Wow...how stupid can people really be to keep giving money to these types ?
I was in the chat room when Oliver Velez said when to us all...."You are all my baby traders. I will never abandon you. This program is called "Trade for Life" for a reason. I built this co. because the main reason traders fail is they run out of money before they run out of anything else. I am here to control what you can lose and make sure all of you succeed if you don't give up. I am committed to you on that!"
All we needed was one person with a brain to record that(and I believe someone has it somewhere) and no jury in the world would feel any sympathy for him. Sadly it isnt me who had the savvy to record it but when he said it I was dying that I didn't have the knowledge to record chat-room audio onto my computer. Im still an Internet dummy and cant do it. The crime was many,many of his traders could have and should have done it.
As an aside....my first alarm bell came after Oliver Velez recruited the last bunch of guys before he closed the door, and one of the moderators said to us when we asked where Oliver is..."Oliver has started to learn how to play golf." Immediately an alarm went off in my head. You just recruit 200 new traders or more,and that's when you decide to take up a very demanding sport like golf???? I almost threw up. But months went by and everything was still OK so I thought maybe it was me. IT WASNT!
.............................................................
Is this person Velez, the same person that worked with the current owner of Pristine for several years ? Seems like they made a lot of money together , no ? Wow...how stupid can people really be to keep giving money to these types ?
pristine has nothing to do with oliver velez . furthermore, if you join the prop program, you are not sending money to pristine.You send money to WTS which is the broker dealer where trades are cleared through. pristine has no power to steal your account. If WTS goes belly up, then i guess you are out of luck, but this has nothing to do with greg capra much less oliver velez. The prop program through pristine requires you to pass the series 56 exam before you can trade. I am a proprietary trader through pristine and do not regret it for 1 minute. I consistently receive checks from WTS as i have become consistently profitable I have put a stop to receiving checks and have opted to keep my money in the account so it can grow. . At this point i am on track to doubling my account size every 6 months due to the teachings of pristine with special thanks to paul lange. I know it is hard to know who can be trusted in this industry. i was stupid enough to become a part of velez's organization when i did not know any better. Yes, i believe oliver is a real slime ball and deserves a taste of his own medicine.
Another person who i learned a lot from at pristine is a guy named jared wesley. He is also a great trader and pulls no punches. He actually shows checks that he receives from WTS which pays out on a monthly basis. When i was going through the prop program, jared posted a monthly check in the amount of approximately 10,000.00. Also paul lange routinely shows all his trades in a given day showing all winners and losers. He is able to call these ahead of time making it pretty hard to fudge the numbers.
Believe what you will, but i have found pristine to be a reputable firm which wishes that they could just forget any association with oliver velez. I guess that same sentiment applies to me as well. I was married to the wrong person earlier in my life. That person proves to be of questioable charachter. we are divorced today. the reason why i say this is that my identity has nothing to do with my ex thank god. likewise from a business perspective, greg capra made a huge mistake by becoming associated with the likes of oliver velez. In my view, this is a past mistake that greg has done and in no way makes me view greg in a negative manner. He simply made a mistake in business which he regrets. Since i have been a member of pristine, oliver velez is never mentioned. likewise i do not pay any mind to my ex wife.
Another person who i learned a lot from at pristine is a guy named jared wesley. He is also a great trader and pulls no punches. He actually shows checks that he receives from WTS which pays out on a monthly basis. When i was going through the prop program, jared posted a monthly check in the amount of approximately 10,000.00. Also paul lange routinely shows all his trades in a given day showing all winners and losers. He is able to call these ahead of time making it pretty hard to fudge the numbers.
Believe what you will, but i have found pristine to be a reputable firm which wishes that they could just forget any association with oliver velez. I guess that same sentiment applies to me as well. I was married to the wrong person earlier in my life. That person proves to be of questioable charachter. we are divorced today. the reason why i say this is that my identity has nothing to do with my ex thank god. likewise from a business perspective, greg capra made a huge mistake by becoming associated with the likes of oliver velez. In my view, this is a past mistake that greg has done and in no way makes me view greg in a negative manner. He simply made a mistake in business which he regrets. Since i have been a member of pristine, oliver velez is never mentioned. likewise i do not pay any mind to my ex wife.
Hi Anmolsc, my user name in the chat room is pouncer. I am in and out of the black room . I will be there today during the morning session!! talk to you later!