Well worth a look.

metworth

Newbie
7 0
I have been looking around the net for a while for source of tuition that seemed right for me and have come across a
gentleman by the name of Bill Barrett

http://www.1stdaytradinginformation.com/nap2.htm

I contacted the reputable broker who he is affiliated with and
they confirmed that they have many happy clients of his trading with them.
I was wondering if anyone has bought his manual and could give
some feedback, and if not, perhaps a few of us UK newbies could club together to buy one to copy?? as it costs $200!!!

Let me know
Cheers
Metworth
 

reddragon

Member
73 2
Hi,
From the diagrams he shows - i've only had a quick look - he
appears to be using bull and bear flags as signals - nothing
new there !!!
 

Naz

Experienced member
1,391 22
I have a lot of books but i only really learned when i worked with a couple of traders who did the type of trading that i wanted to do.The real answer was talking to them.

When i started, i kept saying to myself i'm following things i've seen in a book and it dosn't work.They gave me the answers because they weren't hyping a book to sell it they were doing something to earn a living.

The real answers in my opinion are not in a book but with a trader.Sometimes new traders get information overload and over analyze situations so in the end they cant see the wood from the trees.

I'd spend my money going to see a trader.
 

PitBull

Established member
620 58
metworth

I too am a newbie and have been searching the net for sources of information. This looks pretty good and reasonably priced. I too believe in having first hand trading experience with an experienced trader like Naz, which i will be looking to do once I am up and running. But for the meantime I am trying to learn as much as possible and would be interested in purchasing this book also.
 

metworth

Newbie
7 0
Hi Pitbull
Sounds good, no one who has purchased it has come forward with a review yet, so we will wait for a few days see who else comes forward and then i'll PM you regarding buying it. There are
three of us interested in clubbing together at the moment.
Anyone else out there?
Cheers
Metworth
 

Skimbleshanks

1
2,325 16
metworth said:
I contacted the reputable broker who he is affiliated with and
they confirmed that they have many happy clients of his trading with them.
Some questions, if I may:

a) How did you know the broker was reputable?

b) Why were the clients happy? Were they happy because they were getting good service from the affiliated broker, or were they happy because their trading was hugely profitable using the manual they had purchased?

c) Did you consider what an 'affiliated broker' means, and deduce that this could therefore not have been an impartial statement?

d) Are you aware that copying and circulating the manual will contravene international copyright law?

e) Are you connected in any way with the website?
 

metworth

Newbie
7 0
--------------------------------------------------------------------------------



Some questions, if I may:

a) How did you know the broker was reputable?

http://www.prophettrader.com/1stoffer.htm


b) Why were the clients happy? Were they happy because they were getting good service from the affiliated broker, or were they happy because their trading was hugely profitable using the manual they had purchased?
The words

Good question,i guess they are not exactly going to rubbish
Bill Barretts methods to me, especially as they have their collaborated offer on their site.


c) Did you consider what an 'affiliated broker' means, and deduce that this could therefore not have been an impartial statement?

The words " Affiliated broker" are mine.


d) Are you aware that copying and circulating the manual will contravene international copyright law?

I know our friends across the sea are a litigious bunch, but if i buy a copy and lend it to someone i think i'm safe.

e) Are you connected in any way with the website?

Wish i was........... would probably know a hell of alot more
about this business if i was,.....and believe me that wouldn't
have to be alot.
Cheers
Metworth.
 

Oldun

Active member
139 1
metworth,

You should not be so cavalier in dismissing Skimbleshanks' well meant and timely warning re copyright.

You may also wish to consider the law re conspiracy and incitement before potentially you get yourself and others into trouble.
 

metworth

Newbie
7 0
Whoaa...... Odun,nobody is dismissing anyone's comments,
rein yourself in,"conspracy"? "incitement"? youv'e been watching too many compensation adds on the telly.....lol. let's keep this in perspective. I would hope Skimbleshanks' takes my comments with the gentle ribbing that was intended.
Cheers
Metworth
 

Skimbleshanks

1
2,325 16
Thank you Oldun - you know where I'm coming from, and you speak with obvious knowledge.

metworth - please heed the warnings about copyright, conspiracy and incitement - I doubt that Mr Bennett's legal team will have been 'watching too many compensation adds on the telly.' Have you read the disclaimer on his website? You should do, because it is enlightening. Another interesting point is that one cannot copy and paste from his website - not many people shell out the dosh to do that, so perhaps Mr Bennett has been round the block a few times and knows a thing or two.

Now, back to what you were saying about the freebie offer - get $200 back when you place 20 trades through the affiliated broker. Let's do some sums here. Profittrader execute through Speedtrader, so Profittrader are just an introducing broker, also known as an IB. They charge $12.95 plus ECN fees ($1 per trade), so that makes $13.95 per trade, or $27.90 per round trip. I deduce from your initial post where you baulked at paying £123 ($197) for Mr Bennett's manual, and baulked at paying to be taught by a professional trader (Naz), that you are 'careful' with your money.

If you are trading 100 shares of any US stock through Interactive Brokers, it will cost you $1 per side. Therefore you will be saving yourself $25.90 per round trip.

So therefore, I have just saved you the equivalent of $259 by pointing this out - which means you can now afford to buy your own copy of Mr Bennett's manual for $197, and still have $62 left over.

If you've ever heard of the 80% 20% rule, you'll surmise that it also applies to the profittrader offer - ie, 80% of people who buy the manual won't survive the markets long enough to place 20 trades. Of the 20% who do, they get their refund (assuming that there are no further provisos attached to the offer, such as within a certain time period). That makes it a very cheap marketing enticement for Profittrader.

If you're after strategies, the Internet is stuffed full of them - free, and for sale. Be very wary of the ones for sale - if they worked, they wouldn't be for sale, would they?
 

ChartMan

Legendary member
5,580 46
My thoughts....
It's probably the only business in the world where you can point, click, and make money .

They forgot to include the word "LOSE " as well.
Nice charts showing excellent entries. You can see those on my charts every night. What they don't show you is the exits.
I would think that you can learn far more by searching through this website and following a few " dedicated" posters. Then go and find yourself a personal tutor once you have decided on a direction that you wish to go. There are a few highly accredited tutors on this BB whose fees are very reasonable.
 

Skimbleshanks

1
2,325 16
Mentioning the word LOSE is obviously bad for business.

It's always what they DON'T mention which is interesting - but I do appreciate that it is very difficult when you're new to trading and are not very familiar with the tricks, mirrors and smokescreens which are used by the vast majority of strategy sellers.
 

Oldun

Active member
139 1
My earlier remarks were simply meant to be helpful. On the one hand I do not like to see a person's honest work 'ripped off'. On the other it would be unfortunate if through lack of thought or understanding any contributor to this board were to find him/herself in trouble with the law either civil or criminal.

The following reply I received from Prophet Trader to an e-mail I sent earlier this evening may be of further interest. In fairness to them, very good service on a Sunday night.

"Thank you for you interest in Prophet Trader.

Our special and unique offer with 1stDayTradingInformation.com, provides traders both new and seasoned with the opportunity obtain Bill Barrett's training manual at virtually no cost. While we cannot disclose any information about the performance or status of any of our accounts, we would like comment that of the many clients of Bill Barrett that we have done or are doing business with, we have never received a single complaint about their experience with 1stDayTradingInformation.


On the question of cost, although they charge $12.50 each way their data including Nas L2 (assuming 20 trades per month) appears included in the price. So, not quite as expensive as it appears on its face (e-signal about $150 per month for the same data & software) but still pretty pricey.
 
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SUNSEEKER

Established member
872 12
Skimbleshank, my estimation of you, after reading your post above, has just gone up 10-fold....

Oldun, meant in the nicest possible way....if you are haggling over your education, you will haggle for a long time..

just a word of advice meant in the nicest possible way..
 
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