Australian (ASX) Stock Market Forum

Trading gurus and trading courses

Good to see a bit of backbone Turkey . Perhaps we could both sit on the beach and wait for Neptune and Pluto to align although we might be waiting a while as it takes Pluto 21 years to change signs . So in the meantime while we are patiently waiting for that perfect trade to present itself ,I could bring some green bananas to munch on and you could bring a wire rack and a basting brush to freshen up with , what a perfect combination all under the glow of a full moon .

I havent got a problem with some educators , although there are some horror stories , SITM are expensive and require setting up bar charts and 360 Deg charts by hand which does put alot of people off as many are conditioned to using computer generated charts but this affects the geometric scaling between time and price co ordinates , theres a fine balance there . the first two introductory courses are expensive for what they provide and this is all laid out in profits and commodities , the video series is expensive and David has made some very accurate calls which is one thing but on top of that he has a very mechanically based system modelled of Ganns and he has a good understanding of mkt structure and other things , hes expensive and sitm do flog their courses but at the end of the day its up to the individual and what style of trading they want to learn , indicator based , Gann based , Tea Leave based .

School of Gann Article : Gann never got on with his son and his son didn’t believe in astrology. His son John was born in 1915 with Merury, Saturn, Pluto conjunction all square Gann’s natal Saturn. They would have argued all the time and that’s why John discredited his father. His son used to sit in Gann’s office making paper planes and tossing them out the window. Therefore, Gann didn’t believe his son warranted receiving the knowledge he had gained over 50 years of researching, therefore all the knowledge went to his grave except for the small amount he passed on through coded works.

His third wife died around 1996. Gann died in 1955. She was 35 and Gann was around 65 when they were married. A close friend of mine visited her and she stated “one day Gann went to the races and she received a phone call late one night saying could you come and pick up your husband as we fear for his life, he has made so much money it is bursting out of his pockets”. Some people say he died broke. I don’t believe this to be true, as taxes were well over 80% in the 40’s and 50’s and he most likely left his money in Cuba. You can’t have an office on Wall Street for 40 years employing 9 staff, own two planes and be earning no money. Gann was quoted in a number of newspapers that he used the planes to inspect crops; this is highly unlikely as he new in advance what the market was doing. This is proven in “Tunnel thru the air” were he forecast the exact top and price of cotton on the 8th September 1927 at 24.40 (page 196), also check page 208 of “How to make profits in Commodities” for the exact time and price. He also forecast that the stock exchange would close due to panic selling on the 3rd October 1931, the low was on the 5th October and the market rallied from 85.51 to a high of 119.15 on the 9th November 1931 as predicted in “Tunnel thru the air” on page 321 to 323. The book was published on the 9th May 1927. It was possible that the planes were a tax deduction and he flew the money he made to South American bank account.
 
This has got to be the fastest destruction of what WAS potentially the most enlightening thread i have seen for a while.

Thanks for the great contributions you knuckle heads!

CanOz
 
This has got to be the fastest destruction of what WAS potentially the most enlightening thread i have seen for a while.

CanOz

fear not CanOz, I have made only a handful of posts so I am just getting warmed up. There will be many others so just give it a chance.

Madam Gazelle, good post, quite fascinating, didnt know all of those facts about Gann, but thanks for the post - and a much better tone.

yes, I am currently doing SITM, and have just gone through the first module. I am finding it worthwhile for the kind of trader I would like to be so I see it as something I will most likely pursure, but like many say, one must do their double D's (due diligence) before making any material decision else that person is the fool if they ultimately find its a waste of $ and dont find it worthwhile.

So here we are, the destruction of some cyber tension that (un)fortunately dissapated

See you round W.D Gazelle

CanOz who you calling knucklehead? wanna start me? yeah, you know it.

Joe Fox
 
This has got to be the fastest destruction of what WAS potentially the most enlightening thread i have seen for a while.

Thanks for the great contributions you knuckle heads!

CanOz

Haha .... Dont worry about it Cana ---- Its the nature of Internet forums --- maybe I'm just a bit left of centre, but i like the threads where there is a bit of egotistical manipulative socially contradictory "i'm better than u r" kind of stuff ---- a lot better than watching 'home and away' lol -----

ps i actually dont mind home and away, but dont tell anyone ----- my credibility will be shot !! ---------- hang about --- i have NO credibility :eek: lol -----
 
I am currently doing SITM, and have just gone through the first module

You know Ive been on Trading forums for 15 yrs and SITM has been around far longer than that.

You'd think by now that with the many 1000s of people who have parted with their hard earned to take part in SITM---you'd have a plethora of posts and threads from the many satisfied customers showing examples of what can be learnt and what can be achieved.

Perhaps then the silence is a true indication.
 
I think that trading courses really have nothing to stand on. All the information you need is already out there on the internet. The reason why they are still in business must be because most people dont already know that.

Well, not really.

Agreed, most of what you need to know is out there on the net.Problem is beginners don't know the good from the bad.It's all fine and dandy looking back and saying I didn't need to do that course or subscribe to that service.

In reality we need a direction. In my experience, which admittedly isn't years and years, a good mentor, trading group or whatever service you choose is imperative to success, or even survival.

Also you need to want to do it, because you get that many kicks in the gut you need the willpower to bounce back and to persevere.

You can either struggle on by yourself going from one indicator to another, read every book you can lay your hands on, try Elliot Wave, Gann and the other zillion ways to trade or you can choose what is known to be a good trading course or mentor and find direction.

An easy decision I would think.
 
ps i actually dont mind home and away, but dont tell anyone ----- my credibility will be shot !! ---------- hang about --- i have NO credibility :eek: lol -----


LOL @ Cartman....funny:D
 
CanOz who you calling knucklehead? wanna start me? yeah, you know it.

Joe Fox

If the shoe fits?:rolleyes:

I was quite impressed with the start of the thread, and we had some good contributions until you and Afro Deer started at each other. Lets see if we can get back on track.

Cheers,


CanOz
 
Can we please refrain from name calling and personal attacks and get this thread back on track?

Nothing worse than seeing a potentially valuable thread descend into chaos through unnecessary conflict.

Please treat others with respect even if you disagree with them.

Thank you all for your co-operation.
 
Thanks for the reply Nick but I am not with you; it is my query that if 100 or 50 or whatever amount of trades will only validate a sample but not a method...how do you ever develop any confidence in how you trade..and if you tweak your method to supposedly improve it in some way, how do you know you are not simply data/curve fitting..which is a less than worthwhile thing to do I gather from what you are saying? Bit confused here..thks

Sorry, let me try it another way. What I'm talking about is expectations rather than expectancy. I think that a major element of success, in any endeavor, is shrugging off adversity, and so it is with trading. What newbies attempt to do in times of difficulty is go looking for something else that seems to work, whether that be another indicator, chart pattern or technique. What they need to understand is that nothing works well all of the time. They need to find something that works reasonably well all of the time then manage expectations that the bad comes with the good. Chances are that if they keep chopping and changing - The Beginners Cycle as I call it, then they will tend to always find the bad rather than allowing the good to come on naturally.

As a case in point, in the last 5-months my account is probably about +12% as the market went into this sideways range. Its a damn grind at the moment. Every trade is a small loss or break even with the occasional win. I haven't changed a thing, nor will I. I do know, unreservedly, that this range will break and trends will resume and with trends, up or down, 'easier' profits will also return. I know without doubt that times like Jan 08 through Sep 08 where I made 158% will return.

It's just the good with the bad.

Managing expectations.

Understanding the journey.

That, I believe, is the difference between success and failure.
 
So pretty soon we will have Doctors/Airline Pilots and Tradesmen fully trained over the Net.

Great
:cautious::cautious:

Can you get practical experience over the net with ANY of those jobs?
Can you get practical experience over the net if you are learning to trade?
 
I think that trading courses really have nothing to stand on. All the information you need is already out there on the internet. The reason why they are still in business must be because most people dont already know that.

Its pretty much true that all the info is on the net but as Nick points out there are plenty of distractions.

Problem being is what is it you need to know and in what order.

And what is the method I use to change my behavior from punter to pro?

Moving from punter to some sort of profitable trader requires a change in cognitive behavior but that will vary from person to person depending on emotional construct.

I know I know psychobabble, rubbish its just a matter of finding a method that works and applying it to the right market conditions isnt it?

I think the over priced trading education sector is fertile ground for reaping money without or with little complaint while relieving clients of large sums of money.

The waves of new clients that wash through the system seems never ending.

The seminars Nick ran (last year?) was probably one of the best I seen for content and attended by many of the traders here in the West that I know have been around for a while.

It didn't cost a fortune but it did focus on the must haves.
 
It didn't cost a fortune but it did focus on the must haves

Id go as far as saying that those who knew it was on and didnt/couldnt attend have probably seen a very high cost of non attendance!
 
Id go as far as saying that those who knew it was on and didnt/couldnt attend have probably seen a very high cost of non attendance!

Good point tech, lets say I do a trading course that been attended by 20,000 in Oz and pay $10K to $20K(it must be good so many have completed it).

Trading is easy so I blow up two to three accounts of $10K (if I am lucky know some have blown $100K plus)

I am in the hole for $40K plus and I still cannot trade markets successfully.

That was pretty much my story after 2 to 3 years yep very expensive not only in money but also time.

Took me around the 5th to 6th year to make it back to break even.
 
Being self taught, I have never attended a trading course.Now though, I would love to take a course and be able to understand what is being taught.To understand the language would have to be more valuable than being a raw recruit with all the terminology confusing.

I have probably missed alot of stuff that would be like instant ah hahs at a trading course.
 
Some of us need money to trade with. Like Ifocus says, it takes many years to get it right and to then just break even. By then knowledge is extensive, but in learning the account has shrunk. So teaching and getting paid for it will give - A kind of start up account, if you will, to get going again. Perhaps people aren't as affluent as we think they, particularly newcomers and need the cash coming in giving them extra to invest after all the bills are paid. Just a thought.
 
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