Day Trading & Forex Forum

Interceptor

Has anyone heard anything, or experienced anything, with/about/from Nick McDonald and Precision Trader?

rgsharp

Do what I did and go and meet him in person, see Free Indices
for the next free presentation London. If you can't get to London he often writes in the Trader mag. There are links to his recent articles in the above web site.

Interceptor

I've already been.
It's just the age-old Question Number 1 when you hear the sales pitch by any of the trading tutors out there; if you are making tons of dosh out of trading, then why are you in a hotel basement trying to persuade novices to give you their money?
The first time I get an adequate explanation to that question, I'll be getting my chequebook out!

Trader333

Two reasons that I can think of:

1) It makes sense to diversify income streams. For example, if you are a trader and become unable to trade through illness etc then your income disappears. I have made a point of developing passive income streams so if I am unable to trade then I still have income.

2) It is much more profitable to give seminars than it is to just trade. This one is obvious in my view as all you do is work out the income some of these people get. I remember seeing that one (not to be named so called guru), had a weekend seminar with 150 attendees at £3K a time. That means for 2 days work they received £450K. Now tell me any trader out there that can make that kind of money in a year let alone 2 days.


Paul

Interceptor

If I was a rich man etc etc, I might be too busy with the yacht and the supermodels to be taking up teaching!

belflan

i read a few acticals from him and he seems to be a real trader

but don't take my word, or anyone else for that matter

rgsharp

But, with all due respect x75, you are clearly not a Rich Man hence your interest.

IMHO nobody every got extremely good at anything, with out first learning their trade from another. Airline Pilots, Golf Pros, Grand National Jockeys etc. Even people learn to walk, talk, laugh, smile, cry, etc. from someone. How are you able to do the job you currently do x75?

BTW good luck in your trading.

Richard.

Interceptor

The point which I'm increasingly finding difficult is this;
I've recently re-read the Market Wizards books, and the majority of these multi-millionaire trading superstars don't seem particularly over enamored with either trading tutors or technical indicators! In fact the only indicators which seem to get a consistently average-to-good press are Moving Averages. The conclusion I'm drawing is that trading successfully ultimately depends on a marriage of trading style and personality, and the only way of finding a style of trading which works for you is by trial and error(and perseverance).
Unteachable.