Lazy Mans Trading

Z

zebra

Junior member
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Hi Guys & Gels,

I'm not sure if this is the right place to put this, but I'll ask anyway!

I've been interested in trader for some time and have read books and understand a lot more than I did 12 months ago, paper traded a while, did okay, got myself a deal4free account and lost a bob or two! Main problem is I can't spend enough time following the action due to my work.

So I've been looking at a few companies that claim to make you rich using their software, newsletters and/or trades on line etc.

I was wondering if anyone had come across these outfits, and if so what do you think of them!

Expertrader; real time feed with online buy/sell signals; £100 pm. I've seen the EOD screens, looks quite impressive, but you can't see the real time feed on a trial version (I wonder why?).

First4futures: Live feed, trial costs £200, the real thing is £1800 pm! Now this must be good. Is it? Buy/sell signals generated on line.

The Market Monitor: Something to do with Vince Stanzione! This is a newsletter. His own buy/sell signals and history on line. £100 pm. Doesn't this guy train?

Pro-Trader: Claims to have 98% success rate and gives out buy/sell on line I believe. £95pm. Some claim!

I could go, but one thing bothers me about all these origination's is that none seem to be registered as required by the FSA, so are they legal? They all seem to have a standard disclaimer but!!

Your opinions would be appreciated.

Zebra. :rolleyes:
 
Hi Z,

Ask yourself if you were rich from trading would you bother with the hassle of selling a system?
 
Hi Zebra,

I have investigated via colleagues of mine, numerous companies that claim they have "The Holy Grail" in terms of systems or advice for which they are charging.

Now not a single one of them were any good at all. In almost every case as soon as the subscription had been taken out or the software had been bought, all of a sudden the results were hopeless and a lot of money was lost.

It would be worth asking yourself why would any company that can make a fortune trading the markets need to write and develop software or sell their advice if they are so good ?

The answer is that they dont trade the systems or advice that they give. I cannot believe the price being charged by some of these outfits as well.

So if any of these outfits were any good they would offer a completely free trial with real data and if they dont then ask why not ? Because almost every company that has a superior product will always offer some form of trial or money back guarantee and if they dont it is invariably because their product is not what they claim.

In the UK you have to be registered by the FSA to give specific investment advice in terms of saying which share to invest in or which future to short etc. If they are not registered and giving advice like this then they are acting outside of the law which again would raise my suspicions.

This is not the same as learning how to trade which, in my view, is far more use as you get something you can keep for life. But again you need to be wary of who to go to as there are a lot of cowboys out there.

I would leave all the above well alone as I am sure you will only lose money and be very disappointed.

Good Luck


Paul
 
Well said paul

There is no holy grail, there are just too many variables that affect the market, war, economic data, general sentiment, profit taking, the trader,the scalper, the investor the list is endless which is one reason why they do not work.

Regarding Vince Stanzione in his sales literature he states how he lost £50,000 whilst working for a company mmmmm

These companies will make you £1,000,000 in about 18 months the only thing is you will need to invest £2,000,000 initially

Sorry but the fact is that the move you learn and the more effort you put in the better your returns will be.

Have you considered trading the US markets, this is what I started on because of work commitments, these markets are open until 9pm GMT

mail me if you need any further information

regards
juanbyte
 
Fools and Money

Stanzione and others have been mentioned here before (Use the "Search" facility). Helen has made a valid comment.

This question of grail hunting surfaces here regularly. Mugs or the naive, gullible, stupid and bone idle flock to the snake oil man for the magic potion.

Wakey wakey - there is no grail, no oracle or magic email, system or mystical number. Mystic Smeg is a fraud.

So what can the newbie do. Well do what many others here did.
read all you can, experiment on simulators etc. read these threads.

Don't discount courses on trading but check them out first. You could start with the courses mentioned on the home page of this board.

Naz, Mr.Charts and TBS all teach a style of trading. But you have to put in the effort. Then when equipped with your new found skills get out there and do battle with the market.

Beware of your biggest enemy - yourself.

And remember; trading is a business - treat it as such.

Good luck.

:cry:
 
Just avoid any sellers of get-rich-schemes like the plague.

That's what they all promise or infer - you'll get rich just by pressing a couple of buttons each day. Hahaha. What they really mean is that THEY will get rich by you wanting to press a couple of buttons each day.

Whenever I see or hear of someone peddling a newsletter or software promising to make you money I also see " " " S C A M " " " in neon lights all over it.
 
Zebra

I agree with Skimbleshanks.

Also, I believe there is no "short-cut" to success in this business, you've got to put in the time, effort and money (it doesn't hurt to take a few small losses) to develop your own game plan. The books, courses, seminars and software will all help to acquire the knowledge that you need. However, you have to develop your trading psycology to bring out the real trader within you. Good luck, and don't believe the hype.

DonEG.
 
Don't buy any trading systems, the are not worth a cent!

Do longterm trades (3 weeks to 3 years). This will not cost you much time.

Develop your own trading systems (on weekends). e.g. with wall street analyzer which is still a free backtesting software.

Or do react to events like the attack on 9/11. They have a strong psychological impact on expectations. So you will not need a chart to see where the trend is going.
 
Use Q Charts with CME
SetROC at 9
CCI at 20
Macd at 7 15 9
and use vlume
Put Bollinger Bands on the candle charts
When all the indicators confirm each other either side of their mid lines, trade with confidence and an eye on volume. Red for sell black for buy.

Good Luck

Phil
 
Don't believe all these doubters

I know of a sure fire way to make money quick with little work and very good returns.

The only trouble is: it is selling trading systems to people who want to make money quick with little work and very good returns.
:)
 
Madas,

there is another way, but it involves walking around in a stripey shirt and carrying a bag marked "SWAG". Hang on, isnt that Vince Stanzione?

(joke!!)) no libel intended!


FC
 
Does anybody know anybody who has ever bought one of these things and ever made money...I certainly do not. Caveat emptor!

There is a company in the US, I forget what they are called but should be able to find them, who have tracked all the commercial trading systems real-time for a long time and they produce a league table.
Still beware however as they only paper trade the systems and I have no idea what slippage they may account for.
Actually they will take any system you create and execute it for you too if you pay them enough.
 
Actually they will take any system you create and execute it for you too if you pay them enough.


now there's an idea. i hereby volunteer my services.

i charge a fairly reasonable $6,000 an hour, but you can rely on me. i run the lastest 80486 processesor clocking in at an impressive 25 Mhz, ive got 2MB ram and a 20MB hard disk. that should be more than enough power for any system you want me to run.

oh yes, and i had my last eye-test 10 years ago.

FC :LOL:
 
and execute it for you too if you pay them enough.

ive got a few home-grown trading systems that need executing too. its a toss-up between the firing squad and the lethal injection.
 
For free you can:
Log into Investech and look at their signals.
Pick out some likelies and look at the robot analysis.
Take your shortlist to Bigcharts and the BB's and check them out against the TA and the story.
You can run them dummy against any sytem and quickly discover that even with a bunch of likelies, no one method will get the best from them all.
Why pay someone for a system which will only work in very restricted circumstances if at all.
As the others say, if it looks to good to be true, it isn't.

I have seen research where a nine year old with a set of darts was pitted against the market's finest and held her own.
1 set of darts cost £4 you could invest the rest in your stock picks!
 
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