[mtrizzzz]

Originally Posted by BennyHey »

My opinion is that if you have read a few good books there is nothing revolutionary that a seminar is going to tell you that you haven't heard or read before. That said, their is nothing wrong with paying for a little education. Everyone has to start somewhere.

Just keep in mind MOST education websites are out there to separate you from your money. Some of the prices for these seminars and trading courses are ridiculous, (ie. $5,000) for a 3day seminar with John Carter where he shows "His" squeeze indicator and trend indicator and bricks indicator......oh you don't have them, just go to his website and download them for $400 a piece. Still not making money? Come to our personal mentorship ($5,000 a DAY!!!!)

IMO just watch the market and a Time & Sales window. Watch how the orders flow, If you wanna learn about Gap Fills type it into Google and you'll be amazed what good things come up.

BennyHey

yeah the 7day course with OTA is $5k, theyll discount it if i purchase the forex course as well (also something I'd like to get into/learn more about) They do no promise that you will make money or get rich quick. But they do say they will help new traders with an overview of trading, risk management, etc etc so I think I'd rather learn about it first and give them my 5k than handing it over to the market. If anything, I'll hopefully be able to at least time my investment entry points better which over long haul will pay itself off

BTW these can be considred training for business, so they can be deducted for taxes if you use an LLC for trading and they offer some sorta discounts with tradestation where they will give you discounts on trades till the $5k is recooped.

Think I should pull the trigger? I'm 85% sure I am...

[sevensa]

Originally Posted by mtrizzzz »

Think I should pull the trigger? I'm 85% sure I am...

I think you have already made up your mind is just looking for someone to agree with you so that you have justification. If you want to learn to trade, the first rule is that you and you only are responsible for your actions and no one else.

If the course is a total waste of money, who are you going to blame? Yourself or an anonymous person on a chat forum who told you it is a good idea to take the course? Your money, your decision.

[BlowFish]

Originally Posted by mtrizzzz »

Think I should pull the trigger? I'm 85% sure I am...

TTM have a veneer of credibility, I am not sure why to be honest. Personally I would be wary of parting with money to anyone that steals public domain indicators and sells them as their own. To me this is dubious at best. In my experience businesses that participate in a dubious practice are usually riddled with "dubiousness".

[SAM HOLLANDER]

I've gone down this road.I believe you can gain a lot more insight with someone to bounce questions off.I spent a lot to work with a mentor?. 3 moving averages,etc. When i went live I was on my own.That's where I could have used some help.I find it difficult to grasp a lot of Wyckoff,VSA without some guidance. But do your research before you jump in.As everyone knows there are a zillion courses out there[just look at all the testimmonials]I wonder where the 90% losers are?

[imgunn]

im not familiar with the courses u mention, i have taken 1 course.. but learnt more from my own self education... reading websites such as this and others.

[SAM HOLLANDER]

Find a course that works with a live feed.Static charts are great, looking at history,it's the right edge that makes the money. Find someone that will get you to working live.

[Mavrik00]

Hey guys, here is my experience with educators and different courses they offer:

Specifics Are Key:
New traders need specific instructions to be successful, and thats because they dont have expereince watching and trading to make decisions that require interpretation.

Most educators do not provide the specific instructions that new traders need to follow with mechanical discipline.

In other words, the educator may tell you to "get long when you see this happen", but the student really needs to know MORE.

Something like this...

"when the indicator does this, you need to execute a market order long, 3 ticks above the highest point of this 2-min bar."

then go a little further....

"if you see THIS happen, dont take the trade, and when you're in the trade, this is how to manage it properly."

Traders dont think about the specifics when they fall in love with the idea of a successful trading system, and they dont think to make sure the specifics are included in the "system"

you need to know EXACTLY what to do, when to do it, and most importantly, when NOT to do ANYTHING at all.


Multiple Markets are a must:
the best trading courses work on the basic fundamentals of the markets, and they rarely use special indicators and are even less likely to be automated.

the true test of a quality system is its ability to work across multiple markets and multiple time frames.

Yes, the # of set-ups or the winning percentages may fluctuate, but a quality system will always work across all markets.

If you find a system that only works on 1 market there is a high likelihood that this is nothing more than a recent string of price patterns that are nothing more than a few good months.

A good example of this is your common EMA-Cross systems. these look great in 3-4 month increments, but wont work on multiple markets, and will STOP working just as quickly as you can say "I want my money back!"

Stick to the fundamentals:

All traders use the same 'stuff', and that is...

* Price Action
* Chart Patterns
* Momentum
* Volume
* Variations of these

the bottom line is that there has been very little NEW improvements on these old technical indicators and for good reason...they work well.

dont fall victim to fancy automation and flashy indicators...they do not perform as they are sold.

stay with the basic indicators available on any chart package and understand how these basics work....then go from there....save your money on a quality system when you find it...and you need to take your time and find one that is of quality.

Hope this helps you guys, let me know if you have questions

-Mavrik