Here's the completed post
Sails
I got a smile by reading all those testimonials about how good David Hunt's forecasts are.
LOL - I didn't read it all thoroughly – the site seems a bit more marketed now. I have met David Hunt on occasions at Trade Expos and he seemed to be fairly genuine. Never any hard sell of his products - which I appreciated. Have also met Bill McLaren on occasions and I feel he gives good value for money with his material. I have Bills ebook which is very good and came with Magdoran’s recommendation. In fact, if I wanted to pursue more study into the element of time, I would go for McLaren's DVDs before Hunt's course.
I guess I feel there is some unfinished business for me with the Gann stuff - I usually like to follow things through and have always felt a little frustrated at having paid so much money to get so little. Although, I’m not keen on doing a whole lot more study only to find it has limited results. Anyway, what caught my eye on the David Hunt's course was the topic list as follows:
"
# Webinar Topic 1:
Forecasting By Time Cycles - Time Rules - Time and Space - How to Determine the Change in Trend - How to use Lost motion - How Long Should a Move Last? - Great Time Cycles - Filtering what is important
# Webinar Topic 2:
Part 1 The Basis of Gann's Biggest Trading Profits Webinar
Part 2 The Triangle Circle and Square
# Webinar Topic 3:
Deciphering the Gann [Square] Charts
# Webinar Topic 4:
Gann's Master Calculators - Uses and Abuses
# Webinar Topic 5:
Gann Square of Nine and How to Find its Best Uses
# Webinar Topic 6:
WD GannSoterica - Dancing with the Gods Planets Numbers and MPCs Time
by Solar Degrees (TM)
# Webinar Topic 7:
Putting it all together"
source:
http://adest.com.au/gann/index-8week.html
Most of these topics were in the more advanced classes of SITM that I did not do due to the huge expense. Hence the somewhat impulsive interest on my part.
I suspect that, typical of people who are trying to sell courses, he spruiks about the ones that came true, but keeps quiet about those that don't.
For example, I don't see anything about his call in early 2008, when he said the US market would end the year 'significantly higher than where it is now'.
Yet that's what he said at an ATAA meeting at which he was the guest speaker in early 2008. I know, because I was in the audience and I wrote it down.
It could well be true. The price of the course does seem fairly excessive when compared to McLaren’s material, and yet fairly cheap compared to others who string it out over several courses as a few grand each. I think the biggest thing for Gann educators is it's easy to show the factors that came together after the market has reversed.
Then there is no need to show all the other factors that came together and didn’t actually produce a full on reversal. But that's just my opinion. I also think it appeals to people to be able to forecast making it an easier thing to market. People like to get things “right” but, as I had to find out the hard way, that rarely helps the cause of the trader.
David Hunt has for many years been in the business of organising trading workshops and seminars on behalf of high profile trading educators like Larry Williams, Dan Gramza and Jake Bernstein. More recently he's decided to personally cut himself a slice of the lucrative trading seminar business by running a seminar of his own.
The question is, can he trade himself? If he can't, then he's unlikely to have anything worthwhile to offer traders by telling them how he does things. .
Yes, absolutely agree – one would need to ask such questions. I probably should have made it clear again that I am not recommending or endorsing the course. It simply had some appeal to me due to the topics being taught.
Having bought a couple of trading courses myself in my early years as a trader, and having been disappointed in every single one of these courses, I too am sceptical of people who make their living from selling courses. With the benefit of hindsight I should have insisted on seeing the last two years of trading statements of anyone whose course I was considering buying. No trading statements - no course purchase from me.
None of them would have complied with my request to show their statements, and I would have saved myself the cost of the course. Fortunately I never allowed myself to get roped in to paying the really big dollars for any course. $2500 was the most expensive one I bought. It lost me 11 of my first 13 SPI trades even though I stuck exactly to the rules.
If you ever get serious about David Hunts course, or anyone else's, I suggest you demand to see his last two years trading statements. If they're impressive, he won't hesitate to show them. If he won't show them, walk away.
When people are asked to pay thousands for a trading course, they have every right to expect to see concrete proof that the course owner is a very capable trader. .
No plans to do so at this stage, but certainly good advice, Bunyip.
PS: I have no financial affiliation with Adest or McLaren.