Bullseyetraders.com

[AbeSmith]

Anyone familiar with Bullseyetraders.com? I'm considering signing up with them but I was not sure if anyone had any experience with them.

[brownsfan019]

Abe - read this thread asap - http://www.elitetrader.com/vb/showth...threadid=94249

After that, read what I am about to write here...

A number of years ago I heard about Franz (guy running this site) through Traders International @ the NY Traders Expo. Wow did it look good. It looked so incredibly easy. I could just pay the 5 grand or whatever and a small monthly fee and have access to my own little ATM machine with Franz. I thought...

So I took the course. The full 5 grand and a number of months in the room.

By the end of my time there, I felt like... or or

Here's all you need to know about Franz - go against the intermediate trend of the day and keep averaging. Most days the market will in fact retrace. And he's right for the most part. When you do catch a trending day however, you better have an account that can stomach loss after loss after loss. And I mean serious losses.

Abe, I know you are still looking for the grail as we've all done that. I tried with TI and Franz and lost more money than I care to think about. I tried with Priced Headley and Bigtrends.com and lost more money that I want to think about.

In the end, I figured out one thing - anyone who is a good trader and can make regular, consistent money either 1) only does it for themself or 2) does it in a hedge fund / CTA biz where you can make extremely good money managing others funds.

I also figured out that most, if not all, of these vendors selling some sort of trading secret have the same edge we all have when we start. They don't have the magic recipe. If they did, they sure as hell would not sell it for a few grand, that's for sure!!!

Let your common sense prevail here as I wish it did for me. If you had the 'secret recipe', would you be willing to sell it for a lousy 5 grand? Would you want to put up with all the customer service issues and possible legal issues?

Of course not. No one would.

Let me rephrase -

NOTHING WILL SUBSTITUTE FOR TIME AND HARD WORK IN THIS BUSINESS. NOTHING. THE HOLY GRAIL DOES NOT EXIST. SHORT CUTS ONLY TAKE YOU FROM YOUR MONEY SOONER, RATHER THAN LATER. ANYONE WITH A CONSISTENT SYSTEM WOULD NOT SELL IT FOR A FEW THOUSAND DOLLARS. THEY WOULD TRADE IT AND BECOME VERY WEALTHY.

[bh_trade]

"Here's all you need to know about Franz - go against the intermediate trend of the day and keep averaging. Most days the market will in fact retrace. And he's right for the most part. When you do catch a trending day however, you better have an account that can stomach loss after loss after loss. And I mean serious losses"


I'll tell you what, there have been an unusual amount of extreme closes this year, especially lately. Wonder how Franz and co have fared with an intraday mean reversion style in the extreme volatility we've seen lately. I would think not so good.

[brownsfan019]

	Quote:	bh_trade
	"Here's all you need to know about Franz - go against the intermediate trend of the day and keep averaging. Most days the market will in fact retrace. And he's right for the most part. When you do catch a trending day however, you better have an account that can stomach loss after loss after loss. And I mean serious losses" I'll tell you what, there have been an unusual amount of extreme closes this year, especially lately. Wonder how Franz and co have fared with an intraday mean reversion style in the extreme volatility we've seen lately. I would think not so good.

bh - I still get emails from Franz and it's just funny. I mean, look at his site. Looks like a template and go site. His performance thing is a joke - some unformatted, rambling PDF.

Guys like Franz would be out of business if the CFTC and NFA would actually take action against people like this.

One other thing Abe - when I last saw his trading, it was still ALL on a SIMULATOR.

What's that tell you? He can't trade live money in his own room?

HELLO RED FLAG.

He'll give you some elaborate BS excuse why you can't see his real Xtrader DOM or something, but it's all part of the plan. I can't even begin to tell you all the BS he would feed us in the TI room - he was making $100k+ per day, trading such huge lots that the pit was aware of him, he had to call in his trades to Goldman or Bear Stearns sometimes.... You get caught up and think WOW... And then reality hits shortly after and you realize this guy is a joke and can't trade for anything. He could not make money trading if his life depended on it.

[AbeSmith]

	Quote:	brownsfan019
	Abe - read this thread asap - http://www.elitetrader.com/vb/showth...threadid=94249 After that, read what I am about to write here... A number of years ago I heard about Franz (guy running this site) through Traders International @ the NY Traders Expo. Wow did it look good. It looked so incredibly easy. I could just pay the 5 grand or whatever and a small monthly fee and have access to my own little ATM machine with Franz. I thought... So I took the course. The full 5 grand and a number of months in the room. By the end of my time there, I felt like... or or Here's all you need to know about Franz - go against the intermediate trend of the day and keep averaging. Most days the market will in fact retrace. And he's right for the most part. When you do catch a trending day however, you better have an account that can stomach loss after loss after loss. And I mean serious losses. Abe, I know you are still looking for the grail as we've all done that. I tried with TI and Franz and lost more money than I care to think about. I tried with Priced Headley and Bigtrends.com and lost more money that I want to think about. In the end, I figured out one thing - anyone who is a good trader and can make regular, consistent money either 1) only does it for themself or 2) does it in a hedge fund / CTA biz where you can make extremely good money managing others funds. I also figured out that most, if not all, of these vendors selling some sort of trading secret have the same edge we all have when we start. They don't have the magic recipe. If they did, they sure as hell would not sell it for a few grand, that's for sure!!! Let your common sense prevail here as I wish it did for me. If you had the 'secret recipe', would you be willing to sell it for a lousy 5 grand? Would you want to put up with all the customer service issues and possible legal issues? Of course not. No one would. Let me rephrase - NOTHING WILL SUBSTITUTE FOR TIME AND HARD WORK IN THIS BUSINESS. NOTHING. THE HOLY GRAIL DOES NOT EXIST. SHORT CUTS ONLY TAKE YOU FROM YOUR MONEY SOONER, RATHER THAN LATER. ANYONE WITH A CONSISTENT SYSTEM WOULD NOT SELL IT FOR A FEW THOUSAND DOLLARS. THEY WOULD TRADE IT AND BECOME VERY WEALTHY.

Thanks Brownsfan. I went to his live trading today and it was ok. He didn't win but it was a learning experience. Though I will not be spending $5000 on the course.

[brownsfan019]

I'm glad you took the demo Abe and could see through what was going on in front of you. Not worth 5 bucks, let alone 5 grand.

[AbeSmith]

	Quote:	brownsfan019
	I'm glad you took the demo Abe and could see through what was going on in front of you. Not worth 5 bucks, let alone 5 grand.

Well, I would be curious to see their trading room and trade their signals. But I'm not willing to spend 5K on it.