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I think I have a somewhat unique vantage point on
this subject so I thought I'd throw in my 1.5 cents.
I used to run a training service that involved a
group chat room and believe I did a very credible job and bent over backwards to
help those who were ready to be helped. This type of service is a very,
very time consuming endeavor if done properly however, and while I still work
one-on-one with people once in awhile I no longer offer this service because of
those time constraints. Based upon that experience I thought I would offer
a couple of suggestions.
First I want to preface the rest of this email
with the following - any methodology that you are interested in learning MUST be
suitable for your personality and should work for any market in any
timeframe. Just because somebody else can make it work does not mean that
you can, and if it's not comfortable for you then you are simply wasting your
time and money.
If you're looking for a signal service that feeds
you trades I think your journey towards this goal is going to be a very long and
unfulfilling one. I can only speak for myself, but I've worked
unbelievably hard to gain the expertise and experience that I have, and if you
think I'm going to charge a couple hundred bucks a month and feed people trades,
well, you're nuts.
If on the other hand you're looking for a
"watch-and-learn" type of service then I think you will have more success.
There are a couple of services that offer training along with a group chat room
that are quite good - if you are willing to invest the necessary time and energy
into the learning process. I can't tell you how many people I've run
across that believe they can learn a methodology in a month or so and
then be trading profitably from that point forward (and then blame the
vendor when they don't have that success). If that's your mindset then all
I can tell you is that you're 100% dead wrong. Learning/developing a
methodology is the easy part (if there is such a thing in this game) - learning
how to trade it is a completely different matter and an exceptionally difficult
one. Unfortunately a lot of people think these are one in the
same.
There is also one thing that nobody can teach
regardless of who they are, and that's experience. In regards to
daytrading the indexes I can tell you that there are certain market
conditions where only experience keeps me out of trouble and/or on the
right side of the market. There isn't any way I can really teach that or
even explain it coherently at times, but that's the way it is and you can only
gain that experience through lots and lots of practice (you can substitute
"pain" for practice...hehe).
I know there are a lot of bad vendors out there,
but they're not all bad and some genuinely enjoy teaching and want to help
aspiring traders. But even if you do find a reputable one that fits
your style the end result is still going to depend on what YOU put
into the process.
Bob
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Sean Cassidy
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, October 11, 2002 3:33
PM
Subject: Re: [RT] does anyone Know (chat
room quest.)
I have looked at a million of these. Almost every
single one either gives ambiguous signals, no stops or both. I fault myself
for being a little lazy in this respect> I am only hoping to use one of
these rooms to give me even a minimal income while I learn how to really
trade, elliot, fibonaci retracements, and how to trade options and
commoditeies. I looked at one that had a 3 point stop on every position (even
a $5 stock) Then claimed to get out at the high of the day on almost every
trade. How often has anyone hit the high of the day? In short these guys that
run these rooms will do almost anything, including outright lying to make them
appear to work. You would think that it would be viable for a good trader to
set up a room, charge $500 a month and get 100 members. But then again, a good
trader could easily make that money trading, so why tell anyone what they are
doing?
Hope this didnt come across as complaing. Its
just what Ive been throough, its better to spend time learning what you should
really do. I wish I had, these guys can all be so seductive.
With that said a friend has made some money with
a newsletter, if anyone wants to email privately, I will give the
address.
SMC
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=smokegreenbuds@xxxxxxxxx
href="mailto:smokegreenbuds@xxxxxxxxx";>Robert Marley
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, October 11, 2002 3:29
PM
Subject: [RT] does anyone Know (chat
room quest.)
Does anyone know, who has been offering real time
chat room services the longest? That would be, someone who posts trades
with entry exits and stops, in real time in front of an audience kind of
thing.Who is the oldest name in the business. ALSO,
does anyone know, who has been offering real-time Futures trading chat
room the longest? In advance,
thanks.-RNMTo unsubscribe from this group,
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