Darren Winters?

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Old Feb 27, 2017, 11:56am   #1
Joined Aug 2013
Darren Winters?

Hi Guys,
I went to a Darren Winters seminar on Saturday in London and was impressed with the amount of information that I received.

I thought that it was well worth £100 inc. lunch and coffee BUT I know that many on T2W would say the exact opposite. One thread listed a Guardian article on Darren that I should read but unfortunately the link is now broken.

Darren appears to have been around a long time, the FREE 6 DVD set that I was given, includes a recording of one of his two day courses when he must have been 10 years younger!

I am currently considering signing up for his "Apprenticeship" but as I only have a total trading fund of £7k at present, it would take a large chunk of that!

He cited many of his "apprentices" that had made very good returns and some that must have taken a punt and won, as they made stupid profits (if true)!

I want to swing trade on LSE shares and his system appeared logical and he does give the same basic advice to limit losses etc. and only invest 1-2% of your fund on any one trade.

I understand all that as I have been end -of-day trading for a couple of years now but not making much profit but also not much loss either!

I really want to progress and I currently have a month or so to really focus on trading so any advice on the above or how to make that transition from part-time to full-time trading would be greatly appreciated.

Many thanks
Ian
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Old Feb 27, 2017, 12:21pm   #2
 
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Quote:
Originally Posted by iandh2010 View Post
Hi Guys,
I went to a Darren Winters seminar on Saturday in London and was impressed with the amount of information that I received.

I thought that it was well worth £100 inc. lunch and coffee BUT I know that many on T2W would say the exact opposite. One thread listed a Guardian article on Darren that I should read but unfortunately the link is now broken.

Darren appears to have been around a long time, the FREE 6 DVD set that I was given, includes a recording of one of his two day courses when he must have been 10 years younger!

I am currently considering signing up for his "Apprenticeship" but as I only have a total trading fund of £7k at present, it would take a large chunk of that!

He cited many of his "apprentices" that had made very good returns and some that must have taken a punt and won, as they made stupid profits (if true)!

I want to swing trade on LSE shares and his system appeared logical and he does give the same basic advice to limit losses etc. and only invest 1-2% of your fund on any one trade.

I understand all that as I have been end -of-day trading for a couple of years now but not making much profit but also not much loss either!

I really want to progress and I currently have a month or so to really focus on trading so any advice on the above or how to make that transition from part-time to full-time trading would be greatly appreciated.

Many thanks
Ian
Have you tried to analyse why you have not been successful so far? If you've not made big losses then it would seem that at least you're doing something right.

Have you been using some kind of system? Do you know what it's trying to do? If it's a basically sound system (where did you get it from? What is its provenance?) then perhaps it's yourself that's not using it properly?

£100 doesn't seem extravagantly expensive for the day you describe but £7K is an entirely different story and in my opinion you can find everything you need on this site and on the Internet for free. With a full description of what you've been doing so far I'm sure there are plenty of people on here who might offer some advice. From what you say, it doesn't appear that you are ready to transition to full-time trading. Do you not think that you must completely master part-time trading first?
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Old Feb 27, 2017, 1:11pm   #3
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Salesmen can be great at selling, trainers can be great at training: having done both, and trading as well, I can tell you that trading is hardest. But you don't get to be a great trader through buying training.

As sminicooper says, there is so much free stuff available, you should not let your training, self-education, seminars, text books and everything combined ever get to 4 figures. After that its down to application and practice. Practice is the best value time you can spend.
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Old Feb 27, 2017, 1:32pm   #4
Joined Mar 2014
Quote:
Originally Posted by iandh2010 View Post
Hi Guys,
I went to a Darren Winters seminar on Saturday in London and was impressed with the amount of information that I received.

I thought that it was well worth £100 inc. lunch and coffee BUT I know that many on T2W would say the exact opposite. One thread listed a Guardian article on Darren that I should read but unfortunately the link is now broken.

Darren appears to have been around a long time, the FREE 6 DVD set that I was given, includes a recording of one of his two day courses when he must have been 10 years younger!

I am currently considering signing up for his "Apprenticeship" but as I only have a total trading fund of £7k at present, it would take a large chunk of that!

He cited many of his "apprentices" that had made very good returns and some that must have taken a punt and won, as they made stupid profits (if true)!

I want to swing trade on LSE shares and his system appeared logical and he does give the same basic advice to limit losses etc. and only invest 1-2% of your fund on any one trade.

I understand all that as I have been end -of-day trading for a couple of years now but not making much profit but also not much loss either!

I really want to progress and I currently have a month or so to really focus on trading so any advice on the above or how to make that transition from part-time to full-time trading would be greatly appreciated.

Many thanks
Ian
what broker do you need to open an account with?
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Old Feb 27, 2017, 7:13pm   #5
Joined Aug 2013
iandh2010 started this thread
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Originally Posted by tomorton View Post
Salesmen can be great at selling, trainers can be great at training: having done both, and trading as well, I can tell you that trading is hardest. But you don't get to be a great trader through buying training.

As sminicooper says, there is so much free stuff available, you should not let your training, self-education, seminars, text books and everything combined ever get to 4 figures. After that its down to application and practice. Practice is the best value time you can spend.
Thanks Tom,
Having read your profile you appear to be doing similar to what I intend to do.

I have been self-educating and going to a few seminars to pick up ideas and get a few things straightened out where I had a few doubts. Having done this for a couple of years now I would say that I thoroughly understand the basics and have developed a couple of ideas of my own based on what I see as common sense about the shares on the LSE . I keep a note of all my trades and a journal so that I can go back and check on losers and winners!

I would say that my biggest problem is timing, mainly entry timing. I said I want to move from part-time to full-time trader, yes I want to get my trading more reliable but one reason its not as reliable as I would like, is because work takes up too much of my time at present. So I really do want to start replacing at least 50% of my income with income from trading. I have some other savings to boost my trading fund but only once I am confident that I am unlikely to lose it!

Where is the best place to look for more advice and guidance on this Forum?

Regards
Ian
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Old Feb 27, 2017, 7:41pm   #6
Joined Aug 2013
iandh2010 started this thread
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Originally Posted by sminicooper View Post
Have you tried to analyse why you have not been successful so far? If you've not made big losses then it would seem that at least you're doing something right.

Have you been using some kind of system? Do you know what it's trying to do? If it's a basically sound system (where did you get it from? What is its provenance?) then perhaps it's yourself that's not using it properly?
Hi sminicooper,
Thanks for responding.

The system I'm using is based on Fundamentals to determine good companies followed by technicals to time entry & exit. This seems to make sense to me for my small portfolio of shares in an S&S ISA. These I tend to buy and hold for min. 6 months so that they do not take up too much of my time.

I then use technicals only, for trading the 0-4 week timescale via Spread Betting. Here I am trading trends but also Bollinger breakouts followed by trend following.

None of these are purchased systems, the only thing I pay for on a regular basis is ShareScope for my market scanning for which I have programmed a couple of ShareScript columns to save me having to scan 350 shares each time.

I do want to start trading FX as well, using MT4 and I have paid for Jim Dandy's MQL4 programming course and have now programmed a couple of indicators which appear to work reasonably well. But these require fairly immediate placement of trades and although I have programmed some Expert Advisers I am not prepared to let them lose with my money so they only place the trades, once I have manually checked the charts.........

So in total I have probably spent £500 on seminars and training courses to get me to where I am.

I might have mislead you a little as the DW "apprenticeship" was not going to cost £7k but would have cost over half that, depending on the options taken. Mind you the full-scale apprenticeship was a lot more expensive....

So where should I look on this forum for the best advice, I don't want to become a pain to anyone!

Regards
Ian
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Old Feb 27, 2017, 7:53pm   #7
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iandh2010 started this thread
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Originally Posted by highbury fx View Post
what broker do you need to open an account with?
Hi HighburyFX,

I'm not too sure why you posed that question!

I already have a Spread Betting broker as I am live trading. In fact I use 2 so that I have a fallback if needed and one goes as low as £0.5 per pip so that allows me to practice scaling in and out of positions without losing a fortune!

I am, of course, always on the lookout for lower spreads and slippage with good technical backup. Both my current brokers aren't bad and one has refunded monies when I thought that there was no good evidence for having been stopped out. Yes it would have been better if they hadn't stopped me out in the first place.

If you have some suggestions please feel free!

Regards
Ian
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Old Feb 27, 2017, 8:49pm   #8
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Quote:
Originally Posted by iandh2010 View Post
. . . Where is the best place to look for more advice and guidance on this Forum? . . .
Quote:
Originally Posted by iandh2010 View Post
. . . So where should I look on this forum for the best advice, I don't want to become a pain to anyone!
Hi Ian,
Welcome to T2W.

In answer to your question - it rather depends on what you require advice about! The more specific your questions are then, as a general rule of thumb, the more relevant the answers will be.

With regard to Darren Winters - you're correct - he doesn't enjoy good press on here - or on other trading forums either for that matter. My advice is to ensure that you are crystal clear about exactly what it is that you'll be getting for your money. Answers along the lines of 'the knowledge, skills and techniques needed to enable you to make consistent profits from the markets' sound good but are pretty much meaningless. You need specific, quantifiable answers.

If you go for it, assume that the course won't make you a bean and, even, that you may lose money trying to implement whatever you are taught. If you're prepared for that outcome, you won't be disappointed. Anything better than that is icing on the cake.

Lastly, to help ensure you go into it with your eyes open, be sure to read these two FAQs before whipping out your credit card:
Can You Recommend a Mentor, Coach or Trading Course?
How Can I Distinguish Between Scams and Reputable Vendors?

From your OP, the only other thing you specifically ask for advice about is how best to transition from part-time to full-time trading. The answer to that is that first and foremost you must have a methodology that you've tested thoroughly, demo traded and then traded live with real money. If all that has gone to plan and you re making consistent gains over time and in a variety of different market conditions - then you may be in a position to start the process. However, take it slowly, build incrementally and don't burn your bridges viz a viz the day job. Always, always, always plan for (but don't expect) the worst. As per my suggestion with the Darren Winters training, plan for what you will do if the dream doesn't pan out as you hope it will. Reign in your expectations and be mindful that there's no pro rata correlation between the time spent trading and the amount earned. Plenty of traders go broke starring at their screens all day every day, while some swing and position traders - who may only look at their positions a few times each week - do quite well.

Lastly, if you've not yet seen them, there are some other FAQs in the New to T2W forum that may be of interest.

Hope that helps.
Tim.
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