A few things;
Can totally understand wanting/having a mentor on the basis that it's incredibly hard to get good at this from a standing start, very few of us can do it.
Can totally understand wanting/having a membership for a trading room where you also get a form of mentorship such as Phil Newton.
But cannot possibly understand how folk defend their choice of 'out of the box/off the shelf' systems. It is one of the most bizarre notions sold in this industry, it's beyond insanity, they are all (to a man) snake oil salesman, they know they're selling bu115hit with their adjusted indicators.
Agree, for me I could never buy a system, never, no way.
And it always follows the same pathology; part timers, with a couple of hundred quid buy it, then love it, until it *breaks*, then they wail like kids not getting toys in Tesco. And what have they learned whilst playing with the out of box strat? Nothing, so they're back to point zero, in fact worse because they've had their confidence battered...
Disagree. I have a mate (in the real world) who was new to trading by a few months. When he told me he had bought a system called the Black Dog, I really cringed and was fed up that he had wasted his money.
When he showed me the set ups I could instantly identify the indicators used, I felt a bit embarrassed and thought it was a pretty mediocre system. I tried to talk to him about adding support and resistance, candlestick patterns etc. He just said to me he knew it’s no holy grail, but he liked the simplicity and the help from the forum community and he saw it as a platform to start learning.
I have to admit since then his learning curve has been very fast. (Or could be mine is just slow.) All learnt from other members on skype and forum. When he talks about his current set ups he will now talk about s/r on multiple t/f etc. etc. His set up now only slightly resembles the black dog, he has done away with some indicators, added a greater emphasis on trend and patterns. He has been profitable for months now. From what he says, all the members trade very differently but from the original foundation. He sees it as though there is no "black dog system" so to speak but a group of guys helping each other out from a vaguely similar base.
I would say for him this black dog thing has worked but not in the way that you think.