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Since my post regarding Ned gandavini , RS of houston and Ed moore I have
recieved a lot of private emails asking me about these guys and whether or not
I have found anyone who is worth learning from . Thought i would save some
time and put out 1 answer to the list .
Most of the people who are selling or teaching you how to trade have something
to offer you in terms of increasing your understanding of the markets if you
are a rookie trader or an intermediate trader ( there are some notable
exceptions to this such as Polk and Bernstein) . there are ideas and market
truths each has stumbled upon at one time or another which may currently work
or may currently not work . For example the RS of houston guys really trade
and really are teaching you what they know but their techniques can , and from
what i could tell , have been wiped out by a changing market on occasion and
when that happened they evolved their methods. I also know two guys who spent
the 10 grand to take Joe ross come to the Bahamas course . They dont trade
what he taught them but they maybe use 1 tenth of what they learned in their
own trading styles . There are good lessons in the George angell and larry
williams Stuff as well as the Raschke /conners stuff not too mention Crabel .
I have about 50 trading books on my shelf and i decided about a year ago to
never buy another one and never spend another dime on a course . Why ? because
i had been studying the markets for 9 years in general and writing and coding
TRADE STATION specifically looking at day trading the SP500 for 3 years in
particular . i had wiped out accounts trading ken roberts , I had wiped out
accounts trading Marty rosenthal , and another one account was killed by
something called Trading the ellipse by Terry davis . I have come to believe
that i have studied enough and it is now time to do my own work. I will never
ever believe what someone tells me about the market without verifying it
personally with my own hands and cant recommend anyone else does either . If
somebody tells you the SP500 market makes a high or the low for the day in the
first hour of trading two thirds of the time you need to personally verify it
with all the data you can get your hands on ... So in a nutshell if your a
rookie trader alot of these guys have something to offer and if you have the
money go learn as much as you can from others just realize it is a long
arduous journey and an expensive one and that the odds of you paying someone 2
or 3 grand and learning how to make a fortune in a few months to a year is not
going to happen . At some point , and the sooner you get to this point the
better , you have to develop your own methods and systems whether they are
mechanical , discretionary or hybrid.. An you have to develop confidence in
them thru back testing in some fashion. I would also say that anyone wanting
to day trade the SPOOS better first start with trying to quantify the Broad
characteristics of the market before jumping into specific trading styles and
methods . You need to look at it from all angles and if your like me you need
to have statistics backing you up . Good luck ..
Dale
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