The Trading Zone: Review and Testimonial
The above is spam. Simple. Below is a Testimonial or Review of The Trading Zone:
There is something mildly irritating about seeing fellow traders
ripped off by marketeers. Messers Greg Weitzman and his cohorts of The
Trading Zone are selling an extremely simple method in essence which
can, without the padding, fit on a couple of sides of paper.
If it were that good that would be fine but its not. Worse than the
$3k is the time wasted and damage caused to ones trading by following
this over simplistic nonsense.(in my humble opinion of course, as one
who has taken his course). There is far better value out there.
What The Trading Zone is should be the contents of a $29 ebook and
then it would have its place with all the other deritritus on sale. To
charge over $3000 (or even $1000) for this is simply daylight robbery,
and by the time people figure out its another scam, they have long
since parted with their money. TTZ do not do refunds under any
circumstances, and its clear why. At one time this course sold for
under $1000. Very little had been added since then.
In essence the so called method relies on an over simplistic version
of Market Profile, which, if followed as TTZ recommends, severely
restricts what one does in the market. The core TTZ methodology
recommends selling when the market enters or touches the MP (Market
Profile) Upper Value Area line from the previous day and buying when
it enters or touches the Lower Value Area line from the previous day.
IF you don't know what this is will not take you $3000 to find out.
The argument Mr Weitzmann puts forth is that the market will
essentially cross to the other end of the value area 80% of the time.
When the market "breaks out" of the value area at either end, one
should buy or sell, as the market is then in "initiating mode". That's
it in essence. Really.
In order to aid this analysis, various market breadth indicators like
$TRIN or $TICK are watched, as well as watching the flow of buy and
sell orders, which can be set up on a simple ticker window. Finally, a
55 or 89 period average is drawn on a 13 minute chart (or similar) and
a fall below the average means that you are in a sell zone and a rise
about the line means one is in a buy zone. Finally a simple breakout
formation is taught.
All this is very well except for two things. Firstly it ain't worth
$3000 (and there is not much more to it than above except for fancy
window dressing) and secondly, and most importantly like much such
nonsense following these rules will often keep you out of the market
when you could be in and stop you taking advantage of the very best
opportunities. This course is all about them collecting your $3k and
not about helping you.
The lack of integrity and brazen selling are obvious to those who have
been in the room for a while, and the enthusiasm of some recent
members (who have not dropped off the bottom yet) is used to sucker in
new "meat". Greg takes great apparent pride in teaching his overpriced
method, but the proof of the pudding is in the eating. Very few people
are still in there after 18 months. They have assimilated and
discarded TTZ and all they have to offer. The so called method offers
little more than over simplified stuff that is in the public domain.
Locking up conventional tecnology and calling, overpricing it and then
floggint it off on the promise you will make money is what this, and
so much else offered is all about.
Moreover, TTZ/Greg Weitzman makes regular use of so called
"moderators", who either hound you to buy or call the market. Many of
these people make decent trades, and then, when asked privately admit
that their trading method has little or nothing to do with the method
you are apparently paying for. Whether or not it is happening at any
one point in time is irrelevant. Weitzman is and has been happy to
create the impression as long as you buy the course which is his one
and ONLY interest. After this, despite his best claims of "helping"
you are of little or no interest to him after you buy the course. In
any case, help you don't need as $100 - $200 worth of books like
Dalton's Market Profile or other MP books is worth far more than the
info in the course.
A number of claims on TheTradingZone.com website are just plain
fraudulent. For example, that TTZ has over 2000 active members. They
may well have sold 2000 courses (ripped off 2000 people and counting!)
but that is not the point. I would say the drop off rate is so high
that at any time they have no more than a handful (perhaps 100 if you
count the number in the room each day) of active members. The fact
that over 2000 people have taken the course and only a few turn up
each day or to Mr Weitzmann's training sessions is testimony to the
fact that this is part of the lie that is used to sell the course.
The worse part is that people with limited funds part with their money
and then are misdirected, having handed over their non refundable
money and time to a group of people who's only interest is to see you
coming. Caveat Emptor. Buyer Beware.
Here is the psychological genesis of those buying this (or many other
courses, of which I have bought way too many!)
1. Promise and Greed. This will make you money. You are sold. You
want IN!!!
2. Buy the couse. You can't wait to pay.
3. Take the course. Can't understand some of it but you absorb it over
weeks and months and start to attempt to use it.
4. The holes start to appear in the method's logic. The smoke and
mirrors tricks used to make you buy start to appear more and more
obvious.
It becomes clear that it's not all its cracked up to be.
5. A few ask for their money back but most people walk away.
6. They know with the benefit of hindsight they would NEVER have
wasted money on this.
TIME FROM INITIAL INTEREST TO WALKING AWAY is typically 12 - 18
months. In most cases far less.
In my opinion, other than a waste of money and some genuine social
value (which you can get for free in other rooms!) this so called
"course" is a waste of time.
