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Patrick, I have to say that I agree entirely with Mr. Kaufman's comments
as below.
I also found David Bowden's SITM an excellent intro to trading because;
a. It is the best guide I have found to the full activity of
trading. It introduces the complete beginner to psychology, money
management & risk management as well as an easily understood method for
evaluating trade opportunities (Gann's swing trading method). Many
experienced traders agree that the method of trade selection is probably
the least important aspect of trading & therefore I see no problem in
using a simple technique such as this to enable new, aspiring traders to
learn, it also has the advantage of being hand drawn & not involving
expensive & often complex software in the early days of learning.
b. In Australia membership of SITM brings not only the notes but
also free & unlimited access to their excellent help line. I presume
this is also the case in the USA. It also includes data for three
different markets with worked examples so that members may practice &
check their progress.
I joined SITM 2 years ago, worked through the package, learnt about
psychology, money management & risk management but decided that the Gann
techniques did not suit my situation hence I now trade futures, I
believe successfully, using other techniques but I still feel that the
money spent on SITM was well worth it. In fact, in the process of
developing my trading knowledge I have read many works by many well
known traders & have not yet found one who I believe treats ALL ASPECTS
of trading as well as SITM. Further more I have seen many of the
"systems" which some of the big name traders sell & believe many of
their claims to be very suspect.
I have not been to any of SITM's subsequent (& expensive) seminars nor
have I bought any of their videos etc, having worked through the Starter
Pack, the No1 Trading Plan & used their help line as much as I needed, I
found I had enough confidence in my ability & understanding to stand on
my own two feet & make my own way. Using their techniques I have never
once had my account equity fall below my initial deposit even though I
have been trading the SPI (like the S&P) which a number of well known
American traders have said in my presence they would not consider
trading because of its volatility.
As a member of a tech analysis association here I do know that many new
traders have had their start through SITM, some have stayed with it so
must be satisfied, others have followed their own paths.
I consider that my A$900 was money very well spent, I don't know where I
would have found a better way of learning how to trade futures & I
believe that what one achieves from it is directly related to the effort
one is prepared to put into it. As Edison is reputed to have said "Most
people never recognise opportunity because it goes around wearing
overalls & looking like hard work"
Finally, please understand that although I live in Queensland, Australia
I have no connection with SITM other than as described above.
Regards David
Date: Tue, 17 Aug 1999 19:55:10 -0000
From: "roykaufman" <roykaufman@xxxxxxxxxxxxxxx>
Subject: Re: is it scam
Patrick, I found david Bowdens Safety in the Market an excellent
introduction to trading. I had absolutely no idea of how to trade, place
stops or back trade a system. I invested $900 australian in the Starter
Pack
and it set me on my way. A small price to pay for some solid basic
knowledge.
Unfortunately, Bowden now bombards me with 'offers' for super expensive
courses, tapes etc. but has never phoned me personally to enquire as to
how
I am trading. I also believe that he is in cahoots with some major
aussie
brokers who take on his clients as SPI traders using his system which
is,
yes, the Gann pullback method.
All in all I've outgrown Safety in the Markets but I'm happy that I got
my
$900 worth.
Regards, Roy
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