Hi all, just have a few questions about various things related to Safety in the Market. Sorry if the questions are kinda dumb, I'm quite new to the stock market in general.
My first contact with SITM was from a friend of a friend who showed me how she trades every day using the SITM system and software. Having never actually seen one of these trading systems before it seemed kind of impressive, and she was obviously very happy with it, using it as one of her main sources of income. She recommended that I go to one of their free seminars to get more details - she also said that if I do sign up, only do the basic course, as the advanced courses were a waste of time in her opinion.
So recently I went to one of these seminars. All the self-promotion of Gann/Bowden and the testimonials got a bit tiresome, and it largely looked pretty dodgy to me - I could see more than a few parallels with Scientology
. BUT the actual 'ABC' swing thing looked like it could possibly work. After all I'd had one person seem to have it work for them, and another friend who attended a seminar said that it made sense to them, and would have tried it but they didn't sign up simply because they didn't have the time to put into it. Don't know if it's relevant, but both have worked for banks most of their lives.
Anyway, after asking the SITM people and confirming with them multiple times about their money-back guarantee, I - probably foolishly - decided to purchase it, planning to read through the book, then if it still seemed useless to me I'd just take it back and ask for a refund.
I've searched the internet for opinions of the company and the majority seem to think that it's either complete garbage or that it has a few good points, but they're definitely not worth the money when you can buy a few books or google them for free. So, at the moment I'm pretty sure I'll be taking it back (once I finish the book), although being able to attend as many basic seminars as you want and their 'trading tutor' support is still kinda keeping me hanging on. However, my questions are:
1. Is there any validity at all to swing trading?
2. I've already seen the software the SITM system uses (called Swing Expert or something), and it seems quite good to me, but mainly because they've made it quite simple to download the data, create the charts, and pick out the 'ABCs' depending on your parameters. Would there be an alternative easy way (i.e. slightly cheaper software) to keep track of patterns like this?
Thanks all!