Anyone heard of Leonard Novy?

Jul 7, 2003
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#1
He's a word of mouth kind of mentor, no advertising whatsoever. Any experience with him? Good/bad? Thanks.

--opm8
 

barjon

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May 6, 2003
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#5
but his trading motto "live long and prosper" was a good one
 

Finlayson

Active member
Jun 23, 2003
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#8
never heard the name

opm8.........do u have any resource online, or links to info on the guy, so we can check it out. ???

did a search on Google, but just got a load of links to some German journalist

Jay
 

oatman

Well-known member
Feb 4, 2003
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#9
opm8, Don't worry mate we're all nearly normal! :cheesy:
Give us a clue as to what you know and I'm sure you'll get the response you were looking for :cool:
 
Jul 7, 2003
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oatman and JayGE,

Thanks for your replies. The fact that there's nothing out there on the whole internet about the guy is a little worrisome. He's a trading mentor who doesn't advertise and maintains a waiting list of potential students, training 10 at a time over the couse of several months, been doing it since '95.

The only thing I've been able to find was an old message from 2000 or 2001 where another guy is asking the same thing I am. I figured if the guy is a scam artist there'd be people out there who've been taken by him and would fess up. I posted the same question on elitetrader and got nothing either. It IS of course possible that few have heard of him.

I'm considering signing on with him but his price is somewhat steep. Just looking for some background on the guy before jumping in. I've spoken to him on the phone and he sounds legit but you never know...

Here's what I have:

Leonard Novy
Located in Van Nuys, California (818) area code -- I have the number
Teaches a method called NTM or Trading for Traders

--opm8
 
Last edited:
Nov 17, 2000
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#11
Some of the world's best traders are virtually anonymous, and it doesn't take much imagination to realise why. There's usually only one way to these guys and that's via recommendation. Secrecy is the name of the game when you get to the top! (Not that I'm there yet.)
 

Finlayson

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Jun 23, 2003
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#12
opm8

can I ask , how did u come by him........was it by recommendation? & how steep is 'steep' ?

it is usually a good sign when someone doesn't try to 'sell' themselves & will be open to u over the phone.....ask as many questions as is comfortable........if they r genuine they should not mind.

also.......is the training on a personal basis with live trading ??

jay
 
Jul 7, 2003
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JayGE said:
opm8

can I ask , how did u come by him........was it by recommendation? & how steep is 'steep' ?

it is usually a good sign when someone doesn't try to 'sell' themselves & will be open to u over the phone.....ask as many questions as is comfortable........if they r genuine they should not mind.

also.......is the training on a personal basis with live trading ??

jay
Thanks for the help so far, guys.

Skimbleshanks,

You're right about the anonymity of the best traders. My problem is the usual lament "why sell a winning system?" In this case he's teaching a methodology not a system per se so there may be hope yet. He says that what he teaches can be used on its own or as a filter for another system.

JayGE,

I was asking for help finding a mentor on another board and was referred to Novy by an options broker. He had a client that took Novy's course with dramatic improvement.

The cost is $2000 US for an 8 week course, 1.5 hrs a session, twice a week. It's done one on one over the phone with a live "whiteboard" where I can see his screen in realtime. It's not live trading, though. After the initial one there are two further optional courses at the same price and duration. The methodology is all there in the first course (one can begin trading right away) and the other two are advanced concepts which I can take if I want.

I've already asked about seeing his audited broker statements but he says that he won't show them to me because since NTM is not a system there is no way to backtest it, ie. like Elliot Wave or Gann's methods. He trades during the day and teaches off-hours. I don't have the feeling I'm being taken for a ride, I just was hoping for some background.

Should I be worried about this? Any particular questions I should ask?

--opm8
 

Finlayson

Active member
Jun 23, 2003
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#14
Hi opm8

did some searching, but not much to find, though I did find somebody off the same listed as broker somewhere, then searched on NFA site & found this.........not sure if it means anything or even if it is the same guy !! but thought Best to let u look for yourself:

http://www.nfa.futures.org/news/newsNotice.asp?ArticleID=93


hard to comment, all I can say is the guy I learnt from taught live & we traded on his account.......thought that was pretty open.

that is not to say he is no good.......but for 2K I would want 'live 'trading.............anybody can show u how to make money with hindsight & old charts

can u speak to any previous students ?

Jay
 
Jul 7, 2003
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#15
Thanks, Jay. I've seen that NFA document too but I don't know if it's him or not. I'll ask.

I've requested several past and present students' emails and re-iterated my concern over non-live trading instruction so we'll see what I get back.

I'll post the results here.

--opm8
Dimitri