FT71 video - pretty brutal

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neil

Legendary member
5,167 744
So they should. If the beginner in the video carried on as she did, she would have loosed her blouse. If someone is incapable of learning by themselves sufficiently quickly, then any advice (even that from vendors) is better than no advice.
"LOST" ffs:LOL:
0r "Lost his shirt" meaning lost his money

Loosening her blouse could be construed as rude and give Timsk palpitations
 

ChocolateDigestive

Experienced member
1,153 280
A genuinely helpful broker LOL


A cynic may say it's easier to have an edge where there are lot of traders like her. There are lot of 'educators' 'teaching' newcomers and thus provide cannon fodder all the time (some people feel grateful for this service).
oh for sure. in a zero sum game someone has to win and someone has to loose. Let's take the mirky world of spot FX, about 10% of the volume is retail (from my limited research). The remainder is volume from larger players in various forms. Let's say 95% of the retail money is lost, this goes to the larger players.

So these vendors are doing the profitable traders a favour increasing the amount of dumb money in the game, the trouble is not much of that retail money enters the real spot FX market it stays on the bucketshops books.

it's good fun baiting vendors and when you finally work out how to beat up the market (if ever) you finally realise how it just simply wouldn't be worth being a vendor ever. :)

most retail traders do not understand the role of all the different participants in their chosen market and that is usually enough to be fatal.
 

ChocolateDigestive

Experienced member
1,153 280
I agree - most likely more than 90% looose, so the bucketshops don't have to do anything - no hedging, no real market.

PS I've heard this from one of the owners
I would imagine they have to do very little. I have not researched much into the finer points of bucketshops. I would imagine they they just look at their net exposure and net off the exposure they dont want. pretty good way to coin it.
 

gle101

Veteren member
3,717 84
Just a beginner making beginner's mistakes. I doubt other beginners will learn anything from that without having to go through the same mistakes themselves.
I wish it was, but most traders goes trough this kind of experience despite them being around for considerable time. A really good and constructive video but the trading mistakes can't be avoided entirely in order to become a good trader. I believe risk & money management must be firmly implanted in your backbone and the only way is to make these kind of mistakes yourself.
 

Lightning McQueen

Moderator
4,861 778
as for brutal? well if she screwing up after paying for training then is it not expected to get pulled up when seen screwing up?

haven't figured out yet if they are straight paying customers or trainee prop traders under training via remote or some such?

is this thread a lead in to promo or just spreading the word on ft71's training by any chance?
 

DionysusToast

Legendary member
5,961 1,497
as for brutal? well if she screwing up after paying for training then is it not expected to get pulled up when seen screwing up?

haven't figured out yet if they are straight paying customers or trainee prop traders under training via remote or some such?

is this thread a lead in to promo or just spreading the word on ft71's training by any chance?
As far as I am aware, FT71 doesn't provide 1 on 1 training. There's nothing to lead into.

He does provide some webinar recordings on line. These webinars come at the massive price of $129.99, all of which goes to a US charity. They cost about 2x the price of the book that CD recommended.

Note that the book seller is also a vendor!

The webinars are all based on auction market theory - not quite Dalton but along those lines.

He is owns a prop shop and a bokerage. I guess that makes him some sort of "uber vendor" in the eyes of our resident vendorphobics.

I think it would be fantastic if all brokerages did this. Obviously the brokerage itself makes more money in the long term if their clients don't blow up, just that I've never heard of one that bothers.

Perhaps we can encourage PBoyles to do an expose on FT71.
 

DionysusToast

Legendary member
5,961 1,497
Here's another evil vendor with some free stuff - Jim Dalton.

Please DO NOT watch the webinars on this page:

James Dalton Webinars | J Dalton Trading

Especially, take no notice of:
The Importance of Understanding Overnight Markets for Short-term Traders
Identifying Day Timeframe Trade Opportunities
Trading Low Volume, Low Confidence Markets

LM, CD - have a field day critiquing this stuff without watching it.

Where's PBoyles to 'expose' Jim Dalton?
 

BeginnerJoe

Senior member
3,329 349
I watched 1/2 of it. They had problems with the presentation for some time and afterwards it got better, but I got so bored I couldn't watch any more. Sorry about it - I was trying my best:(

Maybe trading videos are not for me:confused:
Yeah, as the official video verifier, I rate this video C minus. Just stick to my selection of youtube videos and you'll be fine.
 
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ChocolateDigestive

Experienced member
1,153 280
Here's another evil vendor with some free stuff - Jim Dalton.

Please DO NOT watch the webinars on this page:

James Dalton Webinars | J Dalton Trading

Especially, take no notice of:
The Importance of Understanding Overnight Markets for Short-term Traders
Identifying Day Timeframe Trade Opportunities
Trading Low Volume, Low Confidence Markets

LM, CD - have a field day critiquing this stuff without watching it.

Where's PBoyles to 'expose' Jim Dalton?
lol. i just watched some of the 'trading low volume' sale presentation for kicks. I would firmly place him in the intelligent vendor category same category as yourself, there are definitely things he talked about that I agreed with however it was clear to me he was either keeping his cats in the bag or he doesn't have any cats in bags. I would suspect the latter as if he really did have cats in bags he would stay in the shadows and smash up the market.

all in all I found it entertaining. the idea that a long term profitable trader who trades a 7 figure account records sales pitches is quite frankly hilarious.

:cheesy::cheesy:
 

DionysusToast

Legendary member
5,961 1,497
lol. i just watched some of the 'trading low volume' sale presentation for kicks. I would firmly place him in the intelligent vendor category same category as yourself, there are definitely things he talked about that I agreed with however it was clear to me he was either keeping his cats in the bag or he doesn't have any cats in bags. I would suspect the latter as if he really did have cats in bags he would stay in the shadows and smash up the market.

all in all I found it entertaining. the idea that a long term profitable trader who trades a 7 figure account records sales pitches is quite frankly hilarious.

:cheesy::cheesy:
The first 2 videos will resonate with anyone that trades the ES in the first hour.

Now - the question is - if you weren't already trading that first hour & observing overnight action/morning reaction - would you learn it from this video? It's hard to say. You'd have to take a newbie & drop them in front of the videos and see if they got anywhere with applying it.

Joe has already emailed Jim for a statement, so we should have a reply to your last point then.

In the meantime, I think we should focus on this chap: http://www.trade2win.com/boards/futures-options/156112-critique-video.html
 
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