seminars vs books

[Fox]

Following recent posts on T2W I'm planning to attend one or more trading seminars. Recommendations on this site have included those by Alan Rich, Richard Joyson, and Sandy Jadeja.

I'd be interested to hear from anyone who has attended these seminars;
(1) in the medium/long term, have you traded successfully using the techniques taught?
(2) do you think you could have acquired these skills more cost effectively, for example from specific books?

Thanks, Fox

 

[Dow Trader]

Hi FOX - It depends who the trainer is, many trainers boasts of super results/straegies, but dont show a newbie "how to go about" ! I likedthe Elder Workshop that I went to New York and also the Advanced Option Strategies

some book have been great - try trading for Living - by Elder.

I note you are in Hove, few of us are trying to organise a Sussex Traders meeting, interested?

Jay

 

[Fox]

Thanks for the reply Dow Trader.

I'd be interested in attending a Sussex Trader's meeting.

Fox

 

[Marc100]

Dow Trader

Out of interest. Who ran the Advanced Option Strategies course and where was it?

Any links to the above?

Rgds.

 

[bracke]

Fox

It is interesting that people report their experience of the course they have attended but as far as I am aware they do not report back later with their experience of trading the method/system that they have been taught.

Perhaps they are too busy making money or they are bankrupt!

Regards

bracke

 

[BBB]

Good point Bracke.

I've never payed to go to a trading seminar in my life, but I bet they all leave you feeling very confident about your new entry and exit technique, but never about how to make money, or how to pull the trigger. I doubt you can teach the last bit.

There are lots of good TA'lysts out there, but I wonder how many of them know how to make money - where and when.

 

[bracke]

BBB

So after the courses you can talk the talk, walk the walk but can you cash the cash?

Regards

bracke

 

[BBB]

lol - something like that I guess.

 

[Dow Trader]

Hi Guys

Some excellent replies and debate on this issue, well let me add some of my experience. Up untill 3 years ago, I never went to any Paid seminar/workshop. My trading was average, although not losing, but per hour earnings was a fraction of my salary per hour.

I then started to investin my business ( which is trading now), I went to lots of seminars, paid as well as free, " repetition is mother of all skills", read many books - especially on Psychology, human behaviour, Business Plans, Trading Plans. I also had a session with a Trader's coach when I was in New York - just that 1 hour changed the way I approached trading!

I am a really lousy TA guy, I dont know anything about MACD, Stochastics, Bollinger, Force Index, etc etc etc. All I look at is trend line and Volume - I just look for chart patterns.

I studied what majority did, which was take profits early and let the losses run, they bought at the peak and sold at the the panic. I somehow got the nerves of steel and decided to be a contrarian. Since then I have not looked back.

All I do is keep things simple, and never complicate things. I started meditation and Yoga, and also look at the Hindu beliefs - which has helped me vastly with my trading.

I am pleased to share my experience, if it helps you then good luck - but then you will always some "negative" people whi will want to argue. I would say why waste your nervous energy on things which will not take you anywhere - Use that energy on how you can make your life better!

Keep smiling - Trade with passion!
[email protected]

FOX - please email me on above address, so that when we have a sussex trading workshop I can mail you the info, any guys from sussex interested in meeting like minded traders?

 

[DaveJB]

With regard to learning from books -
some can, some can't - that's why we use a range of strategies in education, and why psychologists have a steady earner for the forseeable future. Some people learn well from books, I tend to for example, others gain hugely from teacher-pupil interaction. Many people seem to need a touch of both, and I would think that's the route for the majority if they want to maximise the learning process.

 

[ilia king]

Some people learn by experience some by reading others by listening. I would recommend reading the book and then attending the seminar if you don't understand something. It depends what type of learner you are as correctly said by Dave

 

[Racer]

I always think that If these people who are giving the seminars are so good, how come they aren't retired by now? Or should they not be trading instead if that was a better money earner? Or indeed the real money earner is telling people how to trade???
I think, if you want to trade what you really need to know is yourself and how you deal with fear and greed and master that. Going to seminars or reading won't help if you can't master your emotions.

 

[trendie]

re: traders giving seminars.

It could be the trading style.
If your trading style is EOD, then you have the free time to teach during th day, and make trading decisions in the evening.
If you are a day-trader - then the certainty of a "sure-thing" income of teaching is better than having to study charts and take a chance !
Its all income, after all.

The real issue I think is what proportion of time is spent trading to teaching.
If the seminar is once a couple of months - fair enough, they are primarily a trader.
If they give seminars every week or two - then you would start to worry.

Overall, I find it useful to attend seminars, as you get to meet like-minded people.
When things are rough, you can give each other help and support - like here !!

 

[Racer]

Yes agree with meeting up with other traders.. that is why I organise the SW meetings every month. I always come away with new ideas. But not sure about paying money to people e.g. several hundred pounds for something as your brain finds it difficult to retain too much information all in one go!

 

[timsk]

Hi Fox,
I've attended 1-2-1's with both Richard and Alan. For me, both days were hugely enjoyable and informative and I hope to return to both of them in the future to build upon my existing skills and knowledge. The question as to whether or not their students are profitable or not won't, IMO, won't tell you anything useful viz a viz deciding whether or not to take the plunge yourself. Even if ALL their respective students to date are millionaires through trading their respective methodologies - it doesn't mean you will be too. And vice versa, of course. This is because Naz and Mr. Charts primarily teach how THEY TRADE THEMSELVES. This is in capitals because it's an important point and one that is often overlooked. They don't teach their student's how to trade, they teach how THEY TRADE THEMSELVES. Both are highly skilled, immensely knowledgeable and, I believe, wealthy as a result. This makes them qualified - in my book - to teach. Moreover, both of them are very open and candid about what THEY do. Whether or not you can duplicate them, is another matter entirely. For my part, neither trades in a way that is practicable for me right now and probably doesn't suite my personality. That said, both have been - and remain - hugely influential in the gradual process of discovering the type of trader I am and getting the best out of myself. You probably want to know if I'm consistently profitable? Not yet is the answer, but as I've already made clear, this in no way reflects the quality of Naz' and Mr. Charts' teaching. On the contrary, it has everything to do with the abilities (or otherwise) of the student. :-( For example, Naz told me quite bluntly that it's next to impossible to day trade profitably via spread betting. What do I do . . . yup, I spreadbet! So, I can hardly blame him for my lack of success! My advice to you would be this. Quiz them to find out if their style of trading suites you. Look at their combined thread to get a pretty good idea of what they're both about. Decide if you're the sort of person who enjoys and responds well to 1-2-1 type tuition and if all the boxes are ticked - go for it. That's what I did and will continue to do - it works well for me. HTH.
Cheers, Tim.

 

[Fox]

Many thanks for the feedback to my original post - I'm pleased to say that it's all been of use.

Since making the post I've spent a day with Naz , which has given me the confidence to try day trading US stocks.

Fox.