Mr Charts Training

[Salty Gibbon]

Hmmmm.

If you look on the Reviews section of this website you will see that Mr Charts rates a 4.7 out of 5 - or 94%.

It would be interesting to see some reviews by the supposed bucketloads of students who have not received satisfaction.

Come on disaffected ones, post some meaningful reviews - warts and all.

 

[Mr. Charts]

I've read all the comments on this thread and will NOT get involved answering the more unreasonable and misleading ones.
Anyone I coach who asks for live trading does indeed get LIVE entries and exits at the moment they would be taken on trades on the day if they wish.
I personally will not trade on my own account and teach simultaneously - each of those activities in my opinion require total concentration and individual effort. That is my personal view. Others may differ.

I do not coach in my own home, but in offices, homes, hotels etc. Therefore I do not have available my own trading software, feeds, scanners etc. anyway.
In my own trading and the styles I use there are days I do not find any good high probability trades or just one or two. It is my choice not to offer group seminars devoted to live trading because if on that particular day there are very few quality trades available, it is simply not fair to those who have paid to attend. You can spend a very long time searching for a good trade on a thin choppy day and simply not find one. That is not what people would want to attend such a seminar for.
Each session is structured and adapted to the individual's skills and knowledge and is specific to that person.
Everyone gets a minimum of seven solid hours of very intensive 1-2-1 coaching - if the material hasn't been covered in that time I continue until it has - even if that takes 8 hours plus.
Everyone is provided with about 80 pages of notes and charts to remind them of the course material and act as a revision aid. Many people choose to make their own written notes during the day to help them and others audio or video the session.
After coaching everyone gets four weeks of unlimited Q&A, help, advice etc. to clarify anything they wish.
In actual fact I provide on-going help to virtually anyone I have ever coached who asks for it and will continue to so.
I am not going to get involved in slanging matches or respond to every post.
I have laid out what I do and how and people can make up their own minds.
As others have said, I show people how I personally trade. After that it has to be up to them, but as I said virtually everyone is very welcome to contact me for further advice if they so wish.
Richard

 

[Oldun]

Now what a reasonable challenge

Yes

 

[JonnyT]

I've read all the comments on this thread and will NOT get involved answering the more unreasonable and misleading ones.
Anyone I coach who asks for live trading does indeed get LIVE entries and exits at the moment they would be taken on trades on the day if they wish.
I personally will not trade on my own account and teach simultaneously - each of those activities in my opinion require total concentration and individual effort. That is my personal view. Others may differ.

I do not coach in my own home, but in offices, homes, hotels etc. Therefore I do not have available my own trading software, feeds, scanners etc. anyway.
In my own trading and the styles I use there are days I do not find any good high probability trades or just one or two. It is my choice not to offer group seminars devoted to live trading because if on that particular day there are very few quality trades available, it is simply not fair to those who have paid to attend. You can spend a very long time searching for a good trade on a thin choppy day and simply not find one. That is not what people would want to attend such a seminar for.
Each session is structured and adapted to the individual's skills and knowledge and is specific to that person.
Everyone gets a minimum of seven solid hours of very intensive 1-2-1 coaching - if the material hasn't been covered in that time I continue until it has - even if that takes 8 hours plus.
Everyone is provided with about 80 pages of notes and charts to remind them of the course material and act as a revision aid. Many people choose to make their own written notes during the day to help them and others audio or video the session.
After coaching everyone gets four weeks of unlimited Q&A, help, advice etc. to clarify anything they wish.
In actual fact I provide on-going help to virtually anyone I have ever coached who asks for it and will continue to so.
I am not going to get involved in slanging matches or respond to every post.
I have laid out what I do and how and people can make up their own minds.
As others have said, I show people how I personally trade. After that it has to be up to them, but as I said virtually everyone is very welcome to contact me for further advice if they so wish.
Richard

I think that is very fair Richard. Can i have my login to your web site please?

JonnyT

 

[SUNSEEKER]

Dear Eva,

I hope you are still around despite the many posts which may or may not answer your original question. I am writing to you specificically in the public section and not on a private message because your situation is typical. You want training but you dont know where to turn.

I know Richard personally and I think he is a nice and trustworthy guy. I don't know if his full day's tuition is good value for money. I have never been on his 1-2-1 tuition but I have before today only heard good things about. Now I have read not so good things about it.

The reason I am writing is because I would like to offer you some free seminars.

You have probably heard about Financial Spreads, the SB company. A guy there called Sandy teaches free seminars for 3 hours. You may need to open an account, but I think it will be worth it ( at the end of the day no one can force you to trade ).

I know that CMC's Steve Hatton does free seminars, and I know that he knows his TA very well.

I teach free seminars as well and I have to add that although I work for an SB company, the seminars are not a sales pitch for our products. I dont think Steve or Sandy are pitching their products either during the seminars. I work for City Index in case you want to look it up. I will be happy to invite you even though you dont have an account.

If you attended these 3 seminars, then you would at least have a pretty good idea of what you want out of a seminar, and perhaps they can answer some questions that you should address before trading. For example what kind of trader do you want to be? A position trader holding stocks or commodities for the long pull? Or maybe you want to trade intraday - and not hold positions overnight?

My own tuition bill has exceeded £££. I love attending seminars, I always learn something new. I buy every book that is ever published on trading. Unfortunately it does not always make me a better trader and I find that although I can recite every single indicator ever invented, I still have to work hard at cutting losses early and let the profits ride. The whole point for writing this is that almost everyone I know who trades for a living have moments of sheer brilliance and moments of total horror. Almost always it has nothing to do with the markets and nothing to do with their indicators etc, and almost always to do with their mood, ie whether they are really up for it or perhaps tired.

My whole reason for this post Eva is to let you know that eduction is useful in this business, but it is also a business which is highly individual. This means that you have to through trial and error determine what time frame suits you best. IF you think you are cut out for day-trading, then you know that Richard is an alternative for your education. There is a tendency to search for the Holy Grail, and having attended Richards big venue seminar at Bloomberg, I can tell you it is not the Holy Grail. It is a method that requires preparation beforehand, concentration while you are trading, dedication to the method when times are tough, and determination to see you through to success. There is nothing sexy about this method, but there is nothing sexy about trading anyway. It is very hard work and you got to love it to be in it. Every penny you earn you fully deserve.

I hope you will contact these companies and get some free tuition. I would also very much recommend a couple of books that I found made a big impact on my own trading and the results. You need to buy a couple of books by a guy called Victor Sperando ( nicknamed Trader Vic ). That will give you a good idea what it means to trade for a living.

I wish you all the best.
Sunseeker

 

[Zenda]

Sally Nichols Diary on finspreads

http://www.finspreads.com/features_confessions.asp

 

[pkfryer]

Interesting that the only person that has come forward with positive feedback is nicebutdim and for some strange reason he decides to write his one and only message here on this thread!? Seems very curious... almost like someone created a new profile on purpose to pretend that he is a satisfied customer! Maybe I am just too cynical!

Where are all the positive messages from ex-students running to defend?

It is true that you cannot be expected to learn from a mere 8 hours... in that case I think it might be good to not go to 1 to 1s at all! If you are going to fork out £950 and be no better off for it, then you may as well have not bothered in the first place! My entire library of TA books (and online courses) have amounted to only £400! Yet I have had literally thousands of hours of learning from it and learnt dozens of techniques! It will take me a great deal of time to integrate them and develop my own methods... perhaps that is the only way to succeed in the markets! I am making progress...

If someone sends you an email and lots of jpegs crammed with successful trades of past students, you automatically assume that this is some kind of proof that by forking out a grand you will attain the same!

Disgruntled ex-students could easily have a legal case, it would be worth seeking legal advice on the matter if you think you have been conned out of £1000. A grand is no laughing matter! If someone makes a living feeding off the weaknesses of others who dont know any better, its illegal! It is one of the reasons self-employed people have insurance covers just in case they are prosecuted!

It might be worth rephrasing the question and asking disgruntled ex-students to step forward and get in touch.

 

[JonnyT]

pkfryer,

Try it (legal action) and you will lose a few more grand.

Mr Charts offers a service, if you have recieved that service then there is no comeback.

Mr Charts does not promise to make you money, he promises to coach you the way he trades. Having been coached I have no complaints.

There is no Holy Grail.

JonnyT

 

[schoe]

Pk, I have been on the course and if you want to learn to daytrade US Stocks then it will save you all the hours you have spent reading those useless books. I was more than satisfied with the content and fantastic effort Richard puts in to making sure you leave with the knowledge needed to trade the methods he teaches. He gives you an action plan to follow to enable you to achieve the same results he did. The problem is that trading can't be learnt unless you practice,practice and practice some more, we are all different and even if given a computer programme with 80%winning trades not all of us would trade it the same way and some would still lose money!
If people are disatisfied with the course then the buck should stop with them and they should spend more time practicing, no one guarantees success at trading it is not that simple you are talking nonsense if you think that you can assume you will be a top trader by attending a one day course but it helps put you on the right path.

 

[Salty Gibbon]

Look, I have to say this but there are too many prats who post on this site who denigrate the likes of Mr Charts who is probably the most valuable contributor to this site.

Talking about legal action is bloody pathetic and this kind of nonsense will only serve to drive the likes of Mr Charts away and that will be a loss to us all.

Anybody who is not satisfied with their training should take a hard look at themselves and not be too quick to blame their teacher.

As I have mentioned previously, if you think Mr Charts is not a good teacher then write a proper review and put it in the correct section of T2W for all to see.

At the moment all the reviews are glowing.

But please, cut the crap about legal action.

 

[theknifemac]

I too have attended Mr Charts course and was very happy with the training given. I have not yet been able to apply the methods learnt in live trading so cannot answer on the profitability.

I would agree with some of the points made by earlier posters - you probably can find a lot of the techniques Richard teaches on the web, but you are not able to question Richard about the techniques and look at examples and discuss any issues as they arise. As Richard himself has said he is also available to give help and advice in the future to people who have been on the course. I'm interested that other attendees who were happy with the course initially are not so happy now - is this because the methods have proved unprofitable or they have had trouble applying the methods ?

Richard also tailors the course given your experience and interests. I am planning on back testing some of Richard's entry patterns once my software is completed and then I hope to trade some of them. Not all of them will be easily automated and not all of them will be profitable in current markets. Richard in fact mentioned that certain patterns were proving more reliable than others when I had my training session with him. We were unable to view live examples as we could not get internet access in the meeting room we used. Richard had many example charts and these were in my view just as useful.

I am fairly certain that when I start trading my techniques will be a blend of what Richard taught and other things I have picked up in reading this and other web sites plus all the trading books on my book shelf. If I fail it will be my fault, if I succeed some of the credit will be due to Richard.

I held off posting on this thread for some time as I was not sure I could contribute anything valuable, but felt I should post my thoughts now even without any live trading behind me. I thought long and hard before parting with the cash for the training, £950 is not a small sum to anyone. However, what would you think if someone offered to train you for £50 a day - what would that tell you about their profitability in the market ?

To sum up, I enjoyed the course, think it was good value for money and would do the course again with no hesitation. I may not use all or any of the techniques learnt but it was a valuable experience.

Cheers

Stew

 

[schoe]

Well said Stew exactly the same for me but you put it better! I liken learning to trade to golf you can read about it and learn to get the techniques correct but it doesn't mean a jot unless you get out on the practice ground and learn how to do it yourself and guess what the more I practice the luckier I get !!
In fact I think I will sue my golf coach as I'm not down to single figures yet and he said it would be easy !

 

[pkfryer]

Calm down Salty... the law is freedom of speech after all.

Who should be protected after all (in general)... should it be the person making the money off others, or the ones that are paying the money?

I would always go for the consumer. There are laws that do cover this sort of thing you know... people may not be aware of it! But its just a fact. Consumers have rights... and if they dont get what they deem to be satisfaction and there is no option of money back or guarantee. Then... you have grounds.

No need to get upset... if Mr Chart and other teachers of 'practical' TA are so good they have nothing to fear do they? No emotions, no prejudice... just facts. People unhappy, can't get money back... can take legal action! Simple. But I only did a level law... so Im not an expert, but I do remember a bit about consumer rights regardless of the service concerned be it quality of college tuition, a dodgy sarnie, or a 1 to 1 TA session.

Its one of the main reasons most things come with a guarantee. If you are not happy, I will give money back! Otherwise the only alternative is legal action. Also, there is such a thing as false advertisement whether explicitly stated or IMPLIED! The difficult thing is proving implied!

 

[dc2000]

I would completely agree with salty gibbon's sentiment there are people who even if they had warren buffett for a personal mentor would not make money. Trading is not a one size fits all occupation there are many different avenues and styles each requiring its own education and training. Those that consider £950 high should look to the US you wont get any change out of $3,000 and thats for a 1,000 to 1 not 1 to 1.

 

[neil]

Well said Salty.
What the grail seekers fail to realise, time and again, despite banging their binocular visioned heads against the wall, is that learning how someone else trades is no guarantee of success.

Let's try one last time: if Tiger Woods teaches me to play golf have I any grounds in law to sue him if I do not make pro standard?

I know -it's a rhetorical question but wait, here they come

Back to golf - if Woods ( or anyone else) could teach me to stop slicing the ball, and to hit it farther then I could prior to tuition, I would be happy.

 

[Salty Gibbon]

pkfryer - I am perfectly calm thank you.

I have to be calm in order to trade - a pre-requisite in case you didn't already know.

After your latest comments I rest my case.

 

[JonnyT]

Calm down Salty... the law is freedom of speech after all.

Who should be protected after all (in general)... should it be the person making the money off others, or the ones that are paying the money?

I would always go for the consumer. There are laws that do cover this sort of thing you know... people may not be aware of it! But its just a fact. Consumers have rights... and if they dont get what they deem to be satisfaction and there is no option of money back or guarantee. Then... you have grounds.

Not true. There are laws on fit for pupose. Mr Charts doesn't state he will make you a sucessful trader, he states he will spend 7 hours with you showing how he trades. The only case he could answer would be if a) He didn't trade that way, but you could never prove it or b) he left after a few hours. If he does these things then he has fulfilled his contractural obligations.

Its one of the main reasons most things come with a guarantee. If you are not happy, I will give money back! Otherwise the only alternative is legal action. Also, there is such a thing as false advertisement whether explicitly stated or IMPLIED! The difficult thing is proving implied!

I do not think he gives false advertisements at all. In fact if I were Mr Charts I would currently be pursuing action against you for defamation of character and libel.

JonnyT

 

[chump]

PK.,
I agree with just one thing you posted...."But I only did a level law... so Im not an expert,"..you are correct

how about a change of forum name...trade to bunfight or similar...

 

[boy]

Hi Everybody,
I was interested in taking up training with Mr Charts, but I am not sure anymore. I have got the information from Mr Charts. Bur when I asked 2 of Mr Charts' s ex-students they said they were not making money from his strategies. Can people who have trained with Mr Charts please tell me if any one is making money from his strategies (or not) except Mr Charts himself?

I dont want to end up paying 950 pounds and then find out its a waste of money or that the information he will give is available on the internet or in books.

Thank you,

Eva

I attended a Mr Charts 1-2-1 coaching day on 16th September last year. By following the methods taught I have made money on a regular basis. I have posted some trades in the past showing both my profits and losses, I still lose, but that is down to my over-trading and lack of discipline. (I'm stubborn)

I think this the type of reply that you were seeking.

 

[Salty Gibbon]

I am not a paying student of Mr Charts but he has helped me many times with general advice and for that I am truly grateful.

Mr Charts - you are a gentleman and a star.

Don't listen to the detractors for they know not what they do.