excellent info that works to this day but be prepared to work hard at learning to apply it
As there is some rather dubious reviews on here that are in my opinion unfair on Alan from people who have made 0 posts on the forum I feel compelled to leave my own review having done 2 day trading fx courses with him as a complete newbie.
Alan does like drinking tea, I agree with that. Anyone with a bit of experience in trading will know very quickly from speaking to Alan that he knows what he's doing when it comes to trading. He is extremely knowledgeable about all aspects of trading, technical and psychological even down to how brokers design their platforms to help themselves take your money.
The focus of the courses was forex. Alan has serveral setups for this which still work today. Some are unique that I still have not seen anywhere else, some are not and are avaliable elsewhere. Alan only teaches what works in the markets so by going on his courses you avoid wasting time learning/testing things which are useless.
The course content is very good, although I would agree that it could be structured a little better BUT everything you need to know is there. As a complete newbie to trading I found meeting Alan exciting but the sheer amount of information to take in and process was a little overwhelming and for a long time I didn't truly understand how to apply it in the markets in real time. It's one thing having all the info on what to do and different strategies ect it's another learning how to apply it. This for me is where Alan comes up a little short, actually showing you how to apply the things he teaches. I dont think this is intentional. Alan after all is a trader, he's not a trained teacher and not everyone learns or thinks the same way.
As for people doubting whether Alan makes his living trading, having been privileged enough for Alan to show a tradestation statement to me I can say he does very nicely from trading. His user name on here is NAZ and he had a big thread on day trading US stocks with Mr Charts, have a read and see if you think he knows what he's doing!
Oh and he doesn't live in a council house in Staines like someone on the forum said a number of years ago. He did however laugh when I told him that!
Would I recommend Alan to anyone looking to get into trading...yes. BUT pay for an extra day with him and make sure he shows you how to apply all the techniques and strategies yourself and that you fully understand it all. Be prepared to put a lot of work in getting competent at it. Experience will also play a huge part in whether or not your are successful at trading and that is something Alan can't teach you.
Having read reviews but also been on the course here is my summary:
Alan's a lovely guy
He drinks a lot of tea
He surely must be making money (whether it's through trading, teaching or his wife...I don't know)
When he asks to settle up before he tells you his secrets...well there aren't really any
After buying the charts I realised they should be completely disregarded by the industry (if there is such a way)
The course has no structure, it feels like your an interviewer doing a documentary on his life
Too much hindsight trading
Despite all that, I would recommend if your a total total beginner....and he slashes the price!
I attended a 121 course with A rich back in 2007. I was a complete beginner but not STUPID - nobody is! I paid 500 in cash got no receipt and the day begun with a cup of tea - water for me as I don't drink tea. He had no material to give and when he explained a chart he was reluctant to print it because he was concerned for his "data protection".
It was very hard to follow a course that had NO STRUCTURE whatsoever. He said how great his life had been having worked as a trader for top banks in the City of London - may I add he sure did not have much to show for his labour his wife working full time and living in a house by the A40 - hardly a desirable location if I may say so. Morning flew by and I was was not impressed - I asked if he could recommend books I could read - no answer - then we went for lunch and got back in time for HIM to trade the US market whilst I was sitting next to him drinking yet another glass of water! After that he had a phone call for some paid subscription - whilst I was completely ignored sitting next to him.
My husband came back to pick me up at 4.00 pm and that was it - I did send him an email afterwards saying how disappointed I was by his course - he did not reply!
I attended a day course with the real hope learning essential skills. I wasnt a beginner but I hadnt achieved a great deal of trading success.
The day started off with a drive into town so that Alan could visit the bank to pay in the cash I paid him followed by a trip to a caf to drink tea. The afternoon was spent going through some written material followed by some live trading with little explanation. This included a live commentary he was obligated to provide to a subscription based trading room.
What I experienced had little to do with teaching and I suspect most of his money is gained from the teaching and indicators that I was also conned into buying.
Wish I had posted this years ago to warn others. For that I must apologise.
I did wonder what 'come & see what I do' meant but I was intrigued to see a veteran trader's edge. Yes there were a few cups of tea involved but I did see him trade & make money. He trades forex in the morning & US stocks in the afternoon so you can only watch at the specific times he trades so tea breaks are inevitable :)
I have kept in touch with him because he has made me think more about price action and momentum rather than lagging indicators.
He has recently said on his blog that he is going to do a bootcamp on how to make 90 pips a day & I think I might invest in that.
He says trading is down to each person's personality...some people make good money, others don't
All in all he stretched my thinking and showed me what is possible; which was a good thing
I have been trading for a few years, I have learnt alot the hard way and learnt most of it for free from various forums and sites. I have always tried to keep it simple and not try to get a large return which has always worked.
I got alot of email from alan rich over a few months and to be honest the information I was getting really started to help my trading so i went and met Alan, he was a charming guy and had alot of knowlage on the markets and how to make money out of them.
I took a day 121 with him and had mixed feelings, he stopped alot for tea breaks and there was alot of sidestepping actually teaching but the knowlage I got was great, he taught it raw, no beating around the bush.
After 20 cups of tea I could barley read his screens. He kept smiling and it fealt like slow motion.
Im not sure if I actually learn anything, but i would not go back.
i went along to one of Alans courses as i always look to see what is out there, if i am up to speed, do i need to do anything else, etc?. he is a nice personable fellow who has makes you feel it is obvious he has traded before.
however i do feel his day course with me was extremely under prepared and extremely generic. It was basic to say the least and i showed him how my method of trading gave the same signals as his method on tradesation woulod, although he charges 2.5k for his new scanner i see. i did explain to Alan how i felt the course was not what i had expected and that i felt he had not done what he claimed he would (his website boasts he can teach anybody anything about trading from novice to pro) he said he agreed he didnt explain enough to me and sent me a print out on fibs, i think i had forgotten more about fibs than was on the printout! extremely dissapointed
if the cheque hadnt cleared then i would have cancelled it as Alan did not do what he claims he will. as i say he mkes you feel he must have traded somewhere down the line before and if he can help others to be successful then all power to him. i just feel he may well be trying to do a car salesman approach to trading when what is needed is an holistic approach to methods and peoples needs.
i wouldnt recommend this course to a beginner and as for a an experienced trader, well i just dont see why you need Alan to re enforce what you already know for a wacking great fee.
I have some experience trading and came across Alan Rich a few times on websites and tv. I decided to visit him and take his US stock level II trading course because for me, any knowledge is good knowledge and one can never know what one could learn until one talks to that person! I thought Alan Rich, given all his credentials would dispel some ideas I had and introduce a plethora of new ideas.
Sadly I was very disappointed with what I got for my money.
We met and I obviously introduced my background (I was not asked prior to the course any questions.... Alan Rich claims to teach anything from FX to intraday US stock trading). Surely a guy needs to prepare a little when there is so much on offer?
Anyways. We spent the day going thru this and that but nothing (I would say) of substance. Just "buy here" (hindsight entry) and "sell here" (hindsight exit). There was no structure to the day whatsoever. He just jumped from one thing to the next and printed out a few sheets from each presentation he had done over the years. He wouldnt even email me a complete set of notes. Only print outs..... great. I asked if we could do a spot of live trading and he said no because of past experiences with students?? What!? Well how about just 100 shares to demonstrate something...... anything..... sadly it was a no.
I would not recommend anyone to visit him until he promised structure and content as I wasted my money and time.
The insights I thought (even just one) did not come and I came away realising I know just as much if not more than this guy. Ok, he might be a great trader, I dont know, but he definitely wasnt a great tutor and has nothing to add to most people (unless beginner).
All it made me actually think was how I could do a better job at teaching and take away some of his prospective clients!
To leave a positive spin. If Alan laid out content, structure and did some live trading (if only with 100 shares or 1/pt).... I think he could have made the petrol cost worthwhile.
Everyone will have their own opinion and this is mine.
Mr Rich is an interesting fellow, commercially switched on and I gather making a reasonable living by either trading/coaching or a combination of both.
CFD's, going long/short, bearish without explanation are not what you expect to hear if you are a complete beginner. I think he was a little mature for me but others may pick up what he says and type a glowing report.
I found that the course (I have presented many courses in my profession) did not have much in the way of structure and in my opinion was disappointing.
Perhaps traders with experience who have visited him may have something different to say.
In conclusion - I'm an adult, it was my money, i made a decision and that's that. Your turn.