The Trading Game mentor program

[coathanger]

Does anyone know the good, the bad & the ugly side of this system, (the trading game) by Louise Bedford, it reads like it is a go?

 

[Valued]

There is already a thread on this one:

www.aussiestockforums.com/forums/showthread.php?t=23565

Apparently the course is expensive. May not be worth the money compared to buying books. They seem to have their own charting package bundled with Norgate data but the data is resold at a higher cost than Norgate sells it for. Not sure if it is worth it, I highly doubt it is as good as Amibroker.

 

[coathanger]

There is already a thread on this one:

www.aussiestockforums.com/forums/showthread.php?t=23565

Apparently the course is expensive. May not be worth the money compared to buying books. They seem to have their own charting package bundled with Norgate data but the data is resold at a higher cost than Norgate sells it for. Not sure if it is worth it, I highly doubt it is as good as Amibroker.

Thank you will follow it up

 

[minwa]

I've bought 4 figure courses that I now wouldn't have wasted time learning even if you gave me for free. There are free resources that I would now gladly pay 4 figures to be pointed to when I started to save the time & effort. Those you have to find yourself because different things work for different people.

 

[Valued]

I've bought 4 figure courses that I now wouldn't have wasted time learning even if you gave me for free. There are free resources that I would now gladly pay 4 figures to be pointed to when I started to save the time & effort. Those you have to find yourself because different things work for different people.

Yea, some of the best resources are free or 10 - 20 bucks on Kindle. If you were going to spend 15k on a course you're probs better off blowing that 15k on the market and getting experience - blowing your whole trading account is part of the experience!

 

[Modest]

Don't spend a dime until you've scoured the internets for at least three months solid reading anything and everything to do with Price Action.

A fantastic place to start is on YouTube. There are hundreds of hours of Trading webinars freely available.

I just went back to my YouTube account and fetched a few videos that I flagged as favourites:

https://www.youtube.com/watch?v=PudfNoKbFuE&list=WL&index=6

https://www.youtube.com/watch?v=kzBSI-Mh5Jo&list=WL&index=15

https://www.youtube.com/watch?v=KUURrIyWzrA&list=LLFhhgx9saf7qcdIMgPBEUbw&index=8

https://www.youtube.com/watch?v=0epdZImMZ_g

https://www.youtube.com/watch?v=AXuTMFne6Yg

There is so much freely available. You will need to dedicate countless hours of your time reading, researching and watching to get anywhere in this.

 

[tech/a]

Analysis isn't that hard.

Your either looking for potential momentum
Or current momentum ---- long or short
In the instrument your trading.

There are endless theories and methods
To determine indications of potential or
Actual current price action.

Worth $15,000?

Then you've got to apply it
PROFITABLY.-----even if you DIY.

Most will lose more than $15,000 in the
Market educated or not.

 

[Valued]

Analysis isn't that hard.

Your either looking for potential momentum
Or current momentum ---- long or short
In the instrument your trading.

There are endless theories and methods
To determine indications of potential or
Actual current price action.

Worth $15,000?

Then you've got to apply it
PROFITABLY.-----even if you DIY.

Most will lose more than $15,000 in the
Market educated or not.

I think the hardest part is understanding you can't win them all and you will be wrong a lot but that's ok. I was fortunate that I played online poker for years so I understood risk/reward, ratios, the fact that losing hands is ok, you can still be profitable.

Some trades I have been so confident in, like a perfect breakout, closing at the high, volume consistent with the market and the move up, fundamentals support the move, then the next day something bad happens like a report about how there is a huge above expectation in supply for a commodity, then the market just comes crashing down on you. I have this tendency to think I should have known or that it should have been obvious or I should have waited (potentially missing a large move up) but I think it's about putting that aside. The mental aspect is most important, it leads to dumb mistakes like putting stops too tight or not managing the trade well.

A $300 course on how not to mentally spaz out and doubt yourself is more valuable than an expensive course telling you how to trade. There isn't much about the mental game for trading but there is for poker and I am glad I learned there.

 

[tech/a]

Don't know about the often touted mental aspects.

It's always easy to look back and say that stop was too
Tight or should have waited longer before buying that stock.

Really it blows in the face of the adage of get used to being wrong.

Trading like most business should in my view be void of emotion.
Black or white
Right or wrong

NEXT

 

[systematic]

Don't know about the often touted mental aspects.

...Okaaay, but then you say:

Trading like most business should in my view be void of emotion.
Black or white
Right or wrong
NEXT

...and that is the mental aspect!

 

[cynic]

I agree that awareness of one's personal psychology is an important quality with which one should be thoroughly equipped prior to embracing any challenging endeavour.

On this note, I would urge caution when contemplating expensive education courses, particularly those that seldom (if ever) transform wannabes into successful traders.

The "one trick" ponies that made a name for themselves during a past market that just happened to be favourable to their one and only trick, can be harmful to those mistakonly believing them to be gurus possessed of infallible trading wisdom.

Please note that the aforementioned comments are not aimed at any specific course or training programme, but are a general caution that is almost certainly relevant to many of the trader education programmes/courses currently on offer.

As I have not done any paid trading courses, I cannot make specific comment on this course, but would recommend that unless graduates have become successful consequent to the training, then one's money is probably better kept in reserve for other endeavours.

 

[Gringotts Bank]

I agree that awareness of one's personal psychology is an important quality with which one should be thoroughly equipped prior to embracing any challenging endeavour.

Yes, absolutely essential (unless you've been gifted a perfect mindset concerning the subject of money and self-image by your parents or someone else). Even when trading a mechanical system it's important.

I like Rande Howell for this. eg quote:

"The Mind you bring to the management of Uncertainty is the Real Edge in trading. It is yours to develop or to remain stuck in performance. And the markets do not care".

 

[Gringotts Bank]

Been watching some of those AL Brooks videos Modest posted.

These by Howell are also good.

https://www.mytradersstateofmind.com/educational-videos.html

 

[Felipe]

This is a great thread. You guys are all in sync. I won't ruin the vibe, any other thread similar but for guys trading options? Im looking for some help, im currently going through my blown account now. .....i want to mentally say, its blown. ..start again with what i have left. ....ive lost 55k in 7 months guys. ..ouch!.

So if you know of a crew trading options especially US....just shove me in that direction. ..or if anyone here would like to discuss with me WTF im doing wrong.....im all ears and keen to learn more.

 

[CanOz]

This is a great thread. You guys are all in sync. I won't ruin the vibe, any other thread similar but for guys trading options? Im looking for some help, im currently going through my blown account now. .....i want to mentally say, its blown. ..start again with what i have left. ....ive lost 55k in 7 months guys. ..ouch!.

So if you know of a crew trading options especially US....just shove me in that direction. ..or if anyone here would like to discuss with me WTF im doing wrong.....im all ears and keen to learn more.

Have you thought about contracting someone from SMB Capital?

 

[stevo2]

This is a great thread. You guys are all in sync. I won't ruin the vibe, any other thread similar but for guys trading options? Im looking for some help, im currently going through my blown account now. .....i want to mentally say, its blown. ..start again with what i have left. ....ive lost 55k in 7 months guys. ..ouch!.

So if you know of a crew trading options especially US....just shove me in that direction. ..or if anyone here would like to discuss with me WTF im doing wrong.....im all ears and keen to learn more.

If you had done the Bedford/Tate mentor course you may not have blown the 55K, so it would have been well worth it.