since we know that all trading courses are bullshit, what would you actually look for in one?

[Real Money]

Besides learning everything you can from guys like sle, bone, maverick74, destreiro, puffygums, and some of the other legends of ET, you can read books. Financial mathematics books are good. Any knowledge you can get about microstructure, market making, and the players in the market (banks, brokers, HFT, commercials) will be better than anything else you could learn. Industry knowledge is the thing every trader wants and needs. But, that's hard to come by. Go to this site and check out this stuff http://sp-finance.e-monsite.com/

That site is made buy quants and has nice little soundbytes like this...

Also, put–call parity says that you can enter into a straddle by buying a call and a put, or two calls and sell a stock or two puts and buy the stock. A straddle is very sensitive to volatility. Indeed, the Gamma and Vega of a straddle are positive and two times higher than the Gamma and Vega of a call. The holder of a straddle is obviously long volatility.

[I don't trade vol and make no claims about the accuracy of the statements on that site]

Here's a quote from a guy who worked at the Board of Trade.

The market you see and trade now is not the same market I traded 20 Years ago. The changes did not occur overnight, and there is not one reason, but a multitude of reasons, that precipitated the change. Government regulations, the electronic trading revolution, the economy, Fed monetary policy, and negative headline events, all contributed to the degradation of the market we enjoyed in the past.

While the advent of decimalization in 2001 is probably the biggest culprit in the gradual demise of the market, the nascent decline began in 1997-1998 with the change in Order Handling Rules and Reg ATS, which opened the door to pervasive market fragmentation (followed by Sarbanes-Oxley in 2002 and Reg NMS in 2005 and you have a history of legislation that has worked to destroy what were once, very liquid and trade-able markets.)

Liquidity was allowed to be spread across multiple markets, exchanges, and trading venues. Unfortunately however, the true purpose and usage of tools like dark pools as mechanisms to effect large block trades for large mutual and pension funds, has been perverted to a means to feed internalization and proprietary HFTs. Today, the NYSE executes approximately 26 percent of the volume in its listed stocks. The remaining volume is split among more than 10 public exchanges, more than 30 dark pools, and more than 200 internalizing broker-dealers. 30 percent of volume in U.S.-listed equities is executed in venues that do not display their liquidity or make it generally available to the public.

Decimalization made High Frequency (automated) Trading possible — a business tailor-made for trading large capital companies at the expense of small caps and IPOs. Add to this the rise of Index and Exchange Traded Funds and all the action was soon in large cap stocks. Market makers were no longer supporting small caps by being a willing buyer to every seller...

Industry knowledge is solid gold. Those gurus on youtube are full of shit.

 

[themickey]

Wtf is puffygums?
Is that Surf.

 

[Real Money]

Wtf is puffygums?
Is that Surf.

I don't know. The guy has some good comments from a long time ago. He's not here anymore. I can't find one of the better ones that I remember and his profile is deleted. Here's an example of one of his good posts.

Yes that is what happens. When I had the S&P squawk box, I noticed when the market started to rise the bigger locals would just step up and lift the offer.

Another ET great was Martinghoul. I liked his comments.

 

[traderking007]

I personally don’t teach people how to trade - I take people with some level of trading competence (whether it be retail, commercial, or prop experience) and I teach them a specialty, which is spread trading.

Having said that, I think it deserves to be said that the right kind of mentor could save a newbie years of time and more than a little money.

But the real problem is well known - the vast majority of educators are not well intentioned and not experts in trading.

had to chime in here
Bone you are also just teaching what can be found in a book or online. its outrageous to act like spreading is "special" or that you for some reason can elevate a students profit potential just because you showed some math on random walks.

you do have a special price that is for sure. 7000 dollars. wow. thats very special.

spreads are not rocket science and do not have any better of a chance of being profitable than anything else outside ones ability once you add in slippage HUGE and fees Enormous.

i do some pair trades and its good knowledge but would i ever tell anyone that a 7000 dollar course is worth it. no way.

i would say. open an account and trade after reading a few books and searching online about trading pairs or spreads. i mean you talk like you are so much better than all the teachers at trading yet you are teaching and paying for advertising on this sute to teach.

im very well versed in spreads in futures stocks curremcies and using options for a full limited risk spread maybe i should put a file together with all my collected papers and knowledge and start teaching this special area for a fraction of the cost of what you charge

oh never mind even at 7k a pop it wouldnt be worth my trouble or time to teach the basics over n over. spreading is getting less and less lucrative due to the lack of liquidity and breakdown of many of typical correlations. it has become riskier due to less reward based off of an outright gain perday after execution slippage n fees

most spread charts lately even done properly still resemble outright charts except you are doubling fees and commission.

no issues with what you teach but if we are keeping this threas real no matter how you slice it you are just another teacher with a price as much as an online college education.

 

[padutrader]

how many traders can just watch the market or their position.......and not do a thing.

that cannot be taught but that is what is called trading.

no coach or strategy is right all the time......only the market is

...so why are using your brains? use only your eyes...trade what you see

 

[danielc1]

had to chime in here
Bone you are also just teaching what can be found in a book or online. its outrageous to act like spreading is "special" or that you for some reason can elevate a students profit potential just because you showed some math on random walks.

you do have a special price that is for sure. 7000 dollars. wow. thats very special.

spreads are not rocket science and do not have any better of a chance of being profitable than anything else outside ones ability once you add in slippage HUGE and fees Enormous.

i do some pair trades and its good knowledge but would i ever tell anyone that a 7000 dollar course is worth it. no way.

i would say. open an account and trade after reading a few books and searching online about trading pairs or spreads. i mean you talk like you are so much better than all the teachers at trading yet you are teaching and paying for advertising on this sute to teach.

im very well versed in spreads in futures stocks curremcies and using options for a full limited risk spread maybe i should put a file together with all my collected papers and knowledge and start teaching this special area for a fraction of the cost of what you charge

oh never mind even at 7k a pop it wouldnt be worth my trouble or time to teach the basics over n over. spreading is getting less and less lucrative due to the lack of liquidity and breakdown of many of typical correlations. it has become riskier due to less reward based off of an outright gain perday after execution slippage n fees

most spread charts lately even done properly still resemble outright charts except you are doubling fees and commission.

no issues with what you teach but if we are keeping this threas real no matter how you slice it you are just another teacher with a price as much as an online college education.

I think you are missing a point here. If bone or any other person that teach someone else and know his stuff that he teaches, he can not ask enough. If you are impressed with the price tag of $7000 you do not know what it takes to have a complete newbie to the stardom of succesfull trading. I know one way that cost between $50000 and $120000 to be a trader and it cost about 2 years to get it done. And that is without the capital you need to get started trading. All their disciples are traders of another catogory. I do not understand that people think they can get this done by 'free' information. It's like you want to be a doctor but you are not going to pay anyone or follow any colleges or stages in a hospital because all the information about sickness and operations are free on youtube or google to find. Guess what? You can talk about all the diseases and you are maybe even able to diagnose an illness but you are never going to be able to cure a patient or perform an operation. The stuff that doctors get paid for...
The stuff where traders get paid for is insights, personal knowledge how they function and in wich enviroment, how they handle stress, understanding some basic knowledge about low risk ideas, able to make a plan that makes money for them and knowing when it will work and when not. You can not get that out of free stuff, because the persons that makes the free stuff, does not do it or know it by them self. There for is information of a real trader that is willing to take you under their wings, priceless. If it $7000 or $70000 it does not matter, if you come out as a consistent profitable trader.

 

[volpri]

If being the operative word, there are 950 robots in Striker (https://www.striker.com/searchsystems.php?order=sys&sb=alpha&kw=a); 1862 in iCannon (https://cannon.isystems.com/); over 400 in collective2 (https://collective2.com/reviews); when I reviewed them earlier this year, guess how many make money? Very very few!!!!!!!!!!!!!! Like carbon based human trading, silicon based robot trading is equally dismal. And most of the bots that make $$$ take 12-50 trades per year, are all hypothetical back-tested and virtually none trade real $$$.

Does this mean discretionary = king! Lol

BTY Linda Raschke is a discretionary trader and once said many years ago “the best indicator of price is price itself.”

 

[Dazz]

mo

Does this mean discretionary = king! Lol

BTY Linda Raschke is a discretionary trader and once said many years ago “the best indicator of price is price itself.”

must have been many years ago; she has not traded live for at least 6 years.

 

[traderking007]

this has been a godo thread looking to get long downhere on the nq around 11,230 ish anyway i am not against teachers i am against teachers who dont admit yes i am teaching but i canno tmake you profitable or ones who charge high fees. even 197 a month for a room seems outrageous. i dont care if it is 4 points in es lol if it is so obtainable then why dont you make the 4 points and make the room free?

my only point is that nothing will prepare you for trading and getting to know yourself than live trading! and winning and losing to understand what your weaknesses are thats all.

I am not against people teaching. i used to be vehemently oppossed and thought they were all liars but you know if you get knowledge out of it then fantastic oif you can afford it.

The biggest kick in the gut for teachers has been MICRO FUTURES because now on a much smaller level people can live trade

 

[traderking007]

are teachers claiming to teach mkt knowledge or actually methods of successful trading?
if methods of successful trading i would be very suspect since this is good today and bad tomorrow.