Training Courses

The Wanderer

Member
88 0
Sunseeker-you may be interested in my post at 10.57am this morning under"DOES ANYBODY HAVE ANY EXPERIENCE OF MARKET TUTORS" As a fool who parted with his money this gives a personal but not very flattering opinion of what Mr Stanzione offers for nearly £3000 per day and some idea of what he is making from each session.I haven't seen any positive feedback about VS on the T2Win site-does anybody have anything good to say about what he has to offer or am I the only person stupid enough to have paid so much when it now appears that better courses are available for not much more than 10% of his price???!!!!
 

stoploss please

Established member
780 10
Wanderer

I spent $5000 on a seven day training course in LA. As I had already done a lot of reading before hand I did not learn that much. The main thing that was drilled into me was money management and changing personality traits that hinder trading.

Was it $5000 well spent. It was an experience which I enjoyed. I also made many friends out there and the tutors are willing to go over any ideas you send them. Also, it was the first time I came across level 2. The good thing about that was they let you trade live with 10 lot share sizes which was fun. Also, I would say I came back from LA more confident in myself because I could see that I am going down the right road.

The main thing I would say is study, listen to people and form your own opinion from the information gathered.
I would also recommend a cd tutorial by a company called Pristine.
It is 20 hours of instruction but don't buy the level 2 cd as it is just a 2 hour long advert. One of my friends has actually spent three months working out of their trading room at Irvine, Southern California. He went over with $50,000 of his own money and trade 100 share lots via level 2 while at the same time was being instructed by their senior traders. He learnt tons a has probably cut the learning time a fair bit. I am not saying follow his example but the CDs are a good start.
 

The Wanderer

Member
88 0
stoploss please-Thanks for the info I'll follow it up.$5000 for 7 days in LA sounds a far better bet than the best part of £3000 for a day in Milton Keynes with no prospect of any individual tuition and the feeling that you had been misled by the way in which the course had been sold to you.Your advise greatly appreciated.
 

stoploss please

Established member
780 10
Wanderer

One thing I would say, I am no where near cracking this thing yet. At the end of the day, trading has helped me assess my risk appetite and where I am at in the scheme of things. I will be taking Alan Rich course next week which I am really looking forward to. Also, once I have taken in what I have learned from Naz, I will be taking up Toms classes. These guys seem to be the best teachers in the UK and their courses are reasonable priced and not hyped up.

What I would like is for an experienced Dow spread better to sit with me for a week as a mentor. Any offers out there??

The course I went on was held by the Online trading academy.
It was good but from what I hear Pristines courses are more structured, however, the OTA has tie ups with level 2 brokers which lets you claim back your tution fees if you make money. Also, the OTA lets you retake their for free for life.

Keep studying
Andy
 

SUNSEEKER

Established member
872 12
dear stoploss,

I dont claim to be an authority on trading. However, through my work over the last 2 years I have had the pleasure of meeting many good men and women(!) who wanted guidance and advice, and I have always been keen to help, as part of my philosophy.

I am sure you have heard this before, but it is worth repeating. In general most trade much to big a size for their account. Most never use stop losses either. That is a reflection of their psychology. they feel a stop will prove they were wrong if it is hit, and they dont want to be proven wrong.

However, by far the biggest mistake, from my experiences talking to many at trade shows and seminars is INFLATED expectations.

I am currently teaching my girlfriend to trade. It all came about when she asked me if I thought it was possible for me to teach her so she could make £50 a day. I kind of took pity on her because £50 seems like a small amount when you are trading.
Sometimes that is my size per point, and I knew I could teach her that in no time. However, it was also a big eye opener to my own trading and other peoples trading. Allow me to elaborate.

My girlfriend has a flair for numbers and is a bright coockie. She works part-time in a bank, and looks after her son the other half of her time. She wants a more stimulating life and of course sees what I do, and like the challenge etc. However, she is worried about finances etc, as we all are when leaving a secure job. She would be content if she could make £50 a day. That would earn her £12,500 a year, which is more than she earns now. Her expectations were low, which is almost certain to stand her in good deed when she starts for herself. If she does that every single day, then there will come a day where she no longer has to settle for £50, because she is getting better and better.

I then realised that it was in reality me who needed to look at my own trading. My girlfriend had taught me a lesson in consistency. I used to gun for the ropes, ie go for the really big trades that could make 5-10 K in a day. Now I have changed. I have no expectations and I treat every day as a new day. If I make £50 in a day I am happy. If I make £500 I am also happy, and if I make £5000 I am also happy. However, when the next day comes around, I start from scratch, with no expectations and a clean slate.

The problem from what I hear from other traders is that they think they are shite traders if they don’t at least make XXX amount of money a year. That is by far the biggest mistake in my opinion. There would be far less casualties if people could control their greed.

I hope this helps you or other who read it. I think it was Mr Chart who wrote: trading is not about the big wins, it is about making steady consistent profits every day.

Dont compare yourself to others. Try to be the best you can be.

Sun
 

2468steve

Experienced member
1,076 39
Tom,
Interesting post,especially the "be happy to make £50,£500... tomorrow is another day"part.
One of the things I have found difficult is taking profits too early,then seeing your position run further into what would have been a bigger profit.
Psycologically this can be worse than taking a loss.The " if only I had" syndrome kicks in and then clouds your judgement.
A relaxed state of mind is one of the most important aspects of trading.

Steve
 

SUNSEEKER

Established member
872 12
my own mentor gave me an [email protected]~e wipping today when i took profits too late....i made more but i broke the rules...There were a lot of F's and C's in that conversation.....

Then he said:look, you dont know what the market will do next ( I havent't told him about my "expected path"...he would kill me if he knew) so you have to enter when you get a signal and exit when your target is met!......

I fell asleep on my bed and missed the whole rally tonight. I came in and got a feel for the market around 20:20. The market was in bull mode so I waited for a retracement which I got 10 minutes later. The corrections were all 2 - 2.25 so I bought a big red candle and took 0.75 ticks out of it....not a lot but it keeps me sharp, and on my toes...and made a little extra....just enough so I can take the wifey out for a nice meal.....I try to measure these things into tangibles....it works for me

Sun
 

ollie

Junior member
13 0
sunseeker,

re your last 2 posts: you have a wife AND a girlfriend.
i can understand why you fall asleep on your bed...with a smile on your face?

and you still find time to post , i salute you.

ollie
 

SUNSEEKER

Established member
872 12
Freudian slip I think, Ollie....my girlfriend has convinced me that I will be far better off if I marry her....


talking of sleep...does no one on this bulletin board sleep...

what i find amazing is that there are 4000 members and it is the same that post over and over.....

i bet there are some cracking traders out there who have some good stuff to contribute....
 

darrenf

Well-known member
481 3
Sleeping is for wimps.............



PS. I'm off to bed now......!!
 

SUNSEEKER

Established member
872 12
I just had a real good giggle. Someone in the Escoteric postings wrote that the "king of Terror" will be born in 1999. JonnT replied that nostradamus was wrong, his SON was born 8 months ealier...
:))))))))))))))))))

good night.......I will see you wimps at 04:45
 

ChartMan

Legendary member
5,580 46
mmm 50, 500, 5k.... Take your profit.... you need a lesson in targets :cheesy:
You're 100% right about treating every day as a new day. You're right about being happy with 50, 500 or whatever.

Then he said:look, you dont know what the market will do next ( I havent't told him about my "expected path"...he would kill me if he knew) so you have to enter when you get a signal and exit when your target is met!......

That's what's wrong. You should know exactly what the market will do next and plan accordingly. Mostly it's 99% predictable, with fixed exit rules . Only occaisionally does it go pear-shaped, but then we hit the kill button in an instant. Maybe I 've got hold of the wrong end of the stick here....
Either way, most interesting observation regarding the girlfriend.
 

stoploss please

Established member
780 10
Sunseeker

My bet size is just £2 a point and I always keep to my stops. I leant my lesson early on. I still want to be trading in a years time.

I do not begrudge spending money on a course if it gives me an insight I cannot get from the many books out there but at the end of the day, I have to step up to the table and trade and feel the pain when it goes pear shaped as this is probably the only way I am going to learn to play this game.
 

a320

Established member
689 8
Yes the must be a wealth of information, hidden out there with the lurkers, feel free to post, variety is the spice of life ect...

The End of the world thread is fantastic, mmillar quote says it all!!! :D

QUOTE]Originally posted by mmillar
What a great thread :LOL: All the lunatics, god squad and code philosophers together at one time. [/QUOTE


Anyway its lonely on here at 01.25 :(


cheers a320
 

SUNSEEKER

Established member
872 12
chartman,

i humbly disagree, but i respect your opinion and dont say i got the answer, only what works for me. My strategy is that i dont need to know what the market will do next to make money.

Based on what i see and my experience i enter the market when the odds are favouring a certain outcome, and i jump on board for the expected ride. however as i dont expect anything i cultivate a flexible mind and can take advantage of what i call "the strongest signal", which is a failed signal.

The strongest signal you can get in the market is when the market fails at certain crucial level and reverses. There was even one yesterday, and I have attached a chart so you can see what I mean.

I hope this sheds light on what I mean....

:D :D :D
 

Attachments

  • failed singal1.png
    failed singal1.png
    28.3 KB · Views: 450
 
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