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I can't count the number of traders I know who have paid a so called
"professional trader" an enormous amount of money to learn their trading
methods which the pro trader claims to be fool proof. OK, I said an
enormous amount of money, which is usually somewhere from $800 to
$10,000. It's a lot of money to spend based upon someones word, on the
other hand, if the traders claims of fame were true, and he could make a
student a successful trader after a week long seminar, why would he be
selling his secrets at any amount?
Unfortunately, you can't buy happiness, love or the Holy Grail of
trading. Be wary of people who promise the secret to great riches in
exchange for a comparably meager amount. If you think about it
logically, without emotion, you'll agree it makes sense.
MAYBE i'VE GROWN WEARY AND NEGATIVE over the years, on the other hand,
maybe because I have personally witnessed the results of all these sure
thing trading methods.
THERE ARE some great trading methods out there, Scale Trading is one of
them. However, very few traders have the discipline or wearwithall to
stick with it. Another one I respect is Customer Service Inc out of
California. They work with their customers indefinately, teaching them
different trading techniques based on technical disciplines that have
proved to be successful over time. I have over thirty of their students
as clients and am very impressed by the professionalism and results they
show in their trading.
I guess what I'm trying to say is to not fall for the bullshit that's
advertised by many "professional traders" (who usually claim to be
ex-floor brokers) and use your head. YOU CAN BE SUCCESSFUL AT TRADING
if you regard the market for what it is, remember that you really can't
tell the future and do your homework.
Paul Brittain
PS have any of you run across a guy named Dave Green from Commodity
Traders Club News. If you have, let me know personally, we need to
talk
David Cicia wrote:
>
> A couple of years ago I was naive and stupid enough to get suckered by B.
> Williams into taking his (in my opinion) worthless course and "tutorial"
> for $5000 plus expenses. The methods that I learned from him are no
> different from those in the book or those in his new "investor's dream"
> software, or those he used to produce the trades for his website.
> Funny thing - and this was attested to by several other former students
> as well - trade after trade that I took based on his methods got stopped
> out for losses, and I wasn't seeing any gains, certainly not the kind of
> results he promises. I was following the methods he taught exactly. When I
> asked him about why things were going wrong in my trades he said "the
> market is in a wave four." This was, and apparently still is, his standard
> reply. It is a grab bag that covers every possible situation.
> Of course, you can call anything a wave four - just like you can call
> pivots "fractals" or an MACD the ao ("awesome oscillator").
> When I didn't accept the wave 4 explanation for all my bad trades - who
> would - he got very unpleasant, heaving shitloads of personal attacks on me
> (I have heard from others that this is his standard second postion, after
> the wave 4 crap.) His 3rd position was threatening to get even nastier (his
> words) and sue me (I'm sure he has done this to others as well.)
> Williams is a very slick and slippery character. I am not surprised
> about what is happening on his website, as you describe. I guess we now
> have electronic boiler-rooms. He'll take his pitch to some other town now.
> He'll show up somewhere else.
> I hope that incidents like this drive it home very clearly and loudly
> what kind of a person this guy is. I won't draw the conclusion here in
> public - because he has threatened me and gotten real nasty with me for
> telling people (even in private) what I know about him, and I just don't
> want to get back into his nasty little world (he IS very nasty once you get
> to know the real person behind the phony face.)
> As one of my fellow students at his tutorial told me, "Bill Williams'
> methods are the quickest way to lose money that I have ever seen."
> Apparently BW has proven this himself to the entire internet!!
> I could go on and on. But instead I will just say this, based on my
> personal experience and talks/emails, etc with dozens of others: I have
> taken his course and tutorial, and know the methods he teaches. I
> absolutely do NOT recommend them to anyone in any way shape or form!! My
> advice is to stay as far away as you can!
>
> Best wishes in finding valid and good methods of trading, and may you never
> have to endure the kind of crap and personal attacks like this guy dishes
> out from anyone,
> David Cicia
>
> At 03:01 PM 7/15/98 EDT, you wrote:
> >Some time ago I posted a message to this forum about a web site of Bill
> >Wiliams' that I had run into. At that occasion I mentioned that he was
> posting
> >daily calls for a portfolio of commodities and stocks. After suffering heavy
> >losses in the commodities he simply eliminated them from the portfolio and
> >went on posting some positive results for the stocks. Bill Wiliams is a CTA
> >and a trading system developer. Obviously this page has the objective to
> >attract new prospects to his business. Now how can you trust somebody with
> >your money under these circumstances?? More yet. When I went back to check
> his
> >page today (15/7/98) to see how the Stock portfolio was doing there was a
> >message there saying that the postings had been discontinued temporaryly
> >because (Watch this) THE MARKETS ARE IN A VERY CHOPPY WAVE 4 FORMATION. Can
> >you belive this guy????I do not know Bill Wiliams, never had any business
> with
> >him (just bought his book) and got nothing personal against the guy.(I even
> >enjoyed reading his book until it came to the part when he started calling
> >Swings as Fractals). But something has to be undertaken against persons who
> >use misinformation to dig into peoples pockets.
> >If someone is interested in checking out the menioned web site it is:
> >http://www.internationaltrading.com/williams/watch_williams_trade.html
> >Just thought in sharing my outrage.
> >
> >Good trading
> >
> >Robert K.
> >
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