Tom Busby DTI Day Trading Institue
I attended Tom Busby's school this year and cannot recommend it. It is $7000 for the intro class and $3000 for the Advanced class. Problems with DTI: Over priced, there are about 7 marquee trades and only 2 of them set up occasionally and pay. Poor money management: The school claims to have this but they completely ignore how much of your account you should risk on each trade. If you go to the advanced class, Tom throws out most of what you learn in the intro and says "If you see a trade, take it". Students are also encouraged to use Tom's brokerage which is not reasonably priced at all. He is making big money on the back end. THE MOST UPSETTING PART OF THE DTI SCHOOL IS THE PLATFORM. You have to log in to their server to get authenticated. The server is constantly going down and good bye platform! Avoid the school. There are many good books and courses online and otherwise for a fraction of the cost.
Funny you should mention that. These guys tried pumping themselves on ET recently, but when members asked for some evidence of trading prowess (other than a one-day chat room trial), they complained (they're advertisers) and the posts were deleted. When members then squawked about the posts being deleted, the whole thread was closed.
Isn't the internet fun? :)
Thanks for the 'heads up' on DTI Bobby and for the ET background dbp - all good information.
Bobby have you made your dissatisfaction known to DTI and if so, what has been their response?
Thanks for posting that info. I was very close to signing up so I sent the posts to DTI to get their response. I assumed the server problems have been sorted by now as the post is a few years old now. I've read lots of books that teach money management so that doesn't bother me. I didn't tell them where to find this forum in case they come on here pretending to be a happy customer! I asked a couple of other questions too. Here's their reply:
Without knowing what forum that was posted on and who posted it, it’s hard to respond.
Please understand and keep in mind that trading is a risky business and we can not guarantee the success of any individual. After reading the below post, it seems to me that this was written by someone who is dissatisfied because they lost money and are looking to place the blame on someone other than their self. This is not the first negative publicity we have received and it won’t be the last. You’ll have to talk to other students of DTI and base your opinion of us and our training on the majority rather than one dissatisfied.
I will do my best to address the issues as you have highlighted them.
7 marquee trades and only 2 of them set up occasionally and pay
We teach a specific method that allows for us to trade at any point and time during a day, it is up to the individual trader to decide whether the criteria for a trade has been met. As far as only 2 of them paying, a lot of that will have to do with how you manage each trade and how closely you stick to the methodology.
If you go to the advanced class, Tom throws out most of what you learn in the intro and says "If you see a trade, take it"
I have never heard Tom say anything like that. I have heard him tell students to analyze the markets and use their education to decide whether or not they want to take a trade and manage it accordingly.
when members asked for some evidence of trading prowess (other than a one-day chat room trial), they complained
Many things have changed since this was posted and we now offer 3 day trials to our chat room and are very generous in extending multiple invitations to people who wish to observe us educating in our chat room.
Which DTI trades go onto the calendar? You could be doing lots of trades each day and only reporting the winners.
The only trades that are reported on the calendar are ones that we actually say in a live market in front of a live crowd. If you look at the calendar you’ll notice that we also report our losers as well.
Can I have a couple weeks free on the chat so I can see for myself?
Yes…I will send a second email to this one with 2 weeks worth of passwords for you to join the chat. While in there feel free to ask questions and interact with the other students.
On the second point, what does he mean, "Tom throws out most of what you learn in the intro"? Sounds like the first part of the program is a waste of money.
Everyone has a different opinion of what we offer, and I don’t know what he means by “Tom throws out most of what you learn in the intro”. The first parts of our course are the most critical in building your knowledge and foundation from which to trade. The advanced portion of the class is geared towards refining your knowledge and learning to execute the Art of trading.
I hope that this has helped in your concerns with dealing with myself and DTI…I’ll leave you with this link to some other testimonials: http://www.dtitrader.com/DTItrader_testimonials.php
I’ll send that second email shortly and look forward to seeing you in the chat.
BTW Tom Buzby's book "Winning the day trading game" is very good.
Re: Tom Busby DTI Day Trading Institue
I think DTI has the very best of intentions. I really do. But, I feel that on the free Wednesdays, there is entirely too much selling of their services. It's overkill. Instead, Jeanette, Tom and the others need to focus more on letting their trading results speak for themselves and then more people would be buyers. Tom spends a lot of time trying to get everyone to open an account with OptionsExpress immediately and start trading. Who does that? I mean, really. I will say this. DTI has a software, DTIc, that is a historical program that tells you the likelihood of where price is going during a certain time of the year, month,. based on past 10-15 years of data. That is good information. For instance, you don't want to be short IBM in May if the 10 year data clearly shows that the stock goes up during this month. Does anyone know the setup for the Corvette trade that Tom does on Fed day. Now, I gotta give it to Tom on Fed day. The Corvette trade made right after the fed announcement tends to work out very well. I've traded it many times and made money just listening in on fed day. I would really like to know the Corvette trade setup. Tom relies a lot on certain numbers for his trades. Some of that is talked about in his first book, but I'm not so sure how much there is to it. Maybe someone who has bought in and isn't happy can share that info.
Re: Tom Busby DTI Day Trading Institue
I spent $10,000 on Tom Busbys Advanced Course after finding him to be the most sincere salesman at a Money Show. I thought by getting educated before trading, I could save myself much heartache. I share the above comment that DTI has the best of intentions. I attended the school which is very well setup for education. The instructor Geoff Smith is very nice and has a certain charm that makes him very easy to listen to.
Here is where I feel compelled to give caution. I read the manual provided and found it to be a collage of information I could have retrieved from any number of reputable websites...
Once at the facility I found the trading style to fall short of inspiring any confidence. Every trade I observed had a fly by the seat of your pants feel to it. Trading off of 30 minute bars while five of the most widely followed Emini contracts are in unison is the "Methodology". I burned through no less than $50,000 of my hard earned money trying to get this method to provide me with a consistent income to no avail......I finally searched and scoured the Internet and finally came across another organization that has me consistently profitable at consiberably less money. Im not going to post the name here as I dont work for them.
The most disturbing experience I had at DTI ( The provided Lunch was always very nice) was being pulled out of the class to "Speak to Tom" after only being there a short time. It turns out after dropping 10k.....they wanted to upsell me into their Diamond program....I was offended and told them this was in bad taste and proceeded to return to the classroom. I dont begrudge Tom Busby, he is a nice man and has a Good business going but I think he has lost sight of the fact that people are really trying to make it as traders while he is simply raking it in.......I cant blame anyone for my experiences as they all have brought me to where I am now but I feel compelled to post this to at least make any future clients at least be aware of what they are getting into.
PS I spent a lot of time looking on the internet checking youtube etc...to get a feel for Tom Busby and DTI and was satisfied initially that I was making a good choice.....unfortunately the method they teach was too variable an interaction with the market and almost ruined me financially.
They have a fellow Chuck Crow who is their numbers guru. He actually stated in the chatroom one evening that he Does not believe in Trading Systems......................Now that I am trading a system with consistent results I can see where DTI falls short.
Good Luck and I believe my email is attached to my profile....I will provide the name of the Trading room that worked for me upon request...they gave me a free week in there room they are happy to show you excel spreadsheets with the backtested results etc....DTI is very reluctant to provide information on their methodology's results unless you pay Big Bucks for the Green Room.....This is the longest post i have ever presented to the a forum. I feel very strongly about my comments and want to prevent heartache where I can.
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