Where to begin with Eminis?

Alpha_Bet · 5 June 2010

downie said:
I'm interested in gaining knowledge to get into trading eminis. funds are limited so i would like to avoid the courses unless anyone can recommend a very reputable school. I don't know where to begin, how to open a trading account etc. Is there any trading rooms out there that don't require you to do their course? Info on where some good starting point is would be much appreciated.
Thanks

Haven't read other responses so apologies if I'm reiterating other opinions.
Crawl before you can walk etc.
Courses. Nothing beats screen time.

edodeoliveira · 23 June 2010

downie said:
I'm interested in gaining knowledge to get into trading eminis. funds are limited so i would like to avoid the courses unless anyone can recommend a very reputable school. I don't know where to begin, how to open a trading account etc. Is there any trading rooms out there that don't require you to do their course? Info on where some good starting point is would be much appreciated.
Thanks

Hi there Downie, I've started to trade on the E-minis market about November 2009, unfortunately I start my course with a company called 21st century eminis; I found their product marketing very inviting, specially when they give you guarantees and make you believe that trading on the Eminis market is failure proof; Well after a huge loss and a lot of headaches I found them to be nothing but worthless and after investigating further, I found that I wasn't alone as the one who lost. There are a lot of people making huge losses and what was first a guarantee turn out to be nothing but a misleading marketing with no guarantees whatsoever. I am now engaging my lawyers to cancel my account with them and am also lodging a complaint with the ACCC and contacting the media to expose the truth about this people and this company. I am not bitter about my loss as we make good and bad decisions, however in this case I just want to make sure that more people don't get sucked in and like me, make the same mistake. They start marketing their new Auto-trader that as far as know are making losses and in some instances where some tradings go well, the profit margins are very small. So if you're looking to get education keep away from these people.

I found the Youtube to be a great source of information and there are people who'll lend you a hand if you ask for it. I found the Ninjatrader very good and not as bad as once my course moderator tolled me they were, and another good thing about the Ninjatrader is that you can practice your Sim. trades until you're ready. I have also puchased a book called Technician's Guide to Day & swing Trading and found it to be very good.

I'll keep you informed as I go along with my campaign to expose these people. To all the other course providers, please understand that I don't have anything bad to say as my bad experience does not in anyway have anything to do with these other providers.

Cheers and good luck.

CATAPILLAR · 5 July 2010

I too am interested in trading Eminis, I have been Mocktrading with a free simulated program and I am doing quite well BUT the only problem is there is no place to put stop losses. So I feel I'm not getting the real experience.
What I am interested to know is, when selling into the market and you've put a stop loss in say at 10points above where you sold in. Providing the market continues to fall then there is no threat to your capital....correct???
And if the market turns and runs up then you should be protected by your stop loss. And hense have a smallish loss??
Am I correct in my assumption??
CATAPILLAR

Wysiwyg · 5 July 2010

CATAPILLAR said:
And if the market turns and runs up then you should be protected by your stop loss. And hense have a smallish loss??
Am I correct in my assumption??
CATAPILLAR

One option is to move the stop loss to break even or better. A trailing stop can be implemented too.

MACD · 5 July 2010

Catapillar,

What software are you using to sim trade? You need to sim trade with stops as when you trade with real money, you will be wiped out if you do not have a pre set stop loss in place.

tthurlow2287 · 5 July 2010

CATAPILLAR said:
I too am interested in trading Eminis, I have been Mocktrading with a free simulated program and I am doing quite well BUT the only problem is there is no place to put stop losses. So I feel I'm not getting the real experience.
What I am interested to know is, when selling into the market and you've put a stop loss in say at 10points above where you sold in. Providing the market continues to fall then there is no threat to your capital....correct???
And if the market turns and runs up then you should be protected by your stop loss. And hense have a smallish loss??
Am I correct in my assumption??
CATAPILLAR

Each point is $50 US per contract. So a 10 point stop is $500...if you're just starting out that might be too large for you...depending on your account size. The Emini is dangerous, be aware of that.

Wysiwyg · 5 July 2010

I replied to your P.M. Caterpillar about the risk factor. The amount risked is up to the trader and they would do themselves a favour to be completely knowledgeable on position sizing relative to stop loss and dollars risked.

Chesty · 16 July 2010

edodeoliveira said:
Hi there Downie, I've started to trade on the E-minis market about November 2009, unfortunately I start my course with a company called 21st century eminis; I found their product marketing very inviting, specially when they give you guarantees and make you believe that trading on the Eminis market is failure proof; Well after a huge loss and a lot of headaches I found them to be nothing but worthless and after investigating further, I found that I wasn't alone as the one who lost. There are a lot of people making huge losses and what was first a guarantee turn out to be nothing but a misleading marketing with no guarantees whatsoever. I am now engaging my lawyers to cancel my account with them and am also lodging a complaint with the ACCC and contacting the media to expose the truth about this people and this company. I am not bitter about my loss as we make good and bad decisions, however in this case I just want to make sure that more people don't get sucked in and like me, make the same mistake. They start marketing their new Auto-trader that as far as know are making losses and in some instances where some tradings go well, the profit margins are very small. So if you're looking to get education keep away from these people.

I found the Youtube to be a great source of information and there are people who'll lend you a hand if you ask for it. I found the Ninjatrader very good and not as bad as once my course moderator tolled me they were, and another good thing about the Ninjatrader is that you can practice your Sim. trades until you're ready. I have also puchased a book called Technician's Guide to Day & swing Trading and found it to be very good.

I'll keep you informed as I go along with my campaign to expose these people. To all the other course providers, please understand that I don't have anything bad to say as my bad experience does not in anyway have anything to do with these other providers.

Cheers and good luck.

There's also a lot of very happy people mate. Your bad experience is not always the same as what everyone is experiencing. I would assume that you pretty much did what you wanted in the room and didn't follow Dave's trades perfectly.

As for the auto-trader, it had 18 strong months in sim, the month it launched it finished in profit but nothing compared to what it was doing in sim. That's just the luck of the markets. Since then, the system is no longer completely auto, Dave gets the signals from the system and decides whether to take them or not. 4 points in the first week. Not a bad passive income that on say 5 contracts.

Think before you speak - If everyone felt the way you do, ASIC and the ACCC would have been or their asses a long time ago.

Regards

builder2818 · 18 July 2010

Chesty, you obviously work for 21st Century. They are the biggest scammers going around. The outrageous claims coming from them just scream scam. I actually can't believe people fall for their lies. If you are too lazy to learn how to trade instead of letting an "autotrader" find and place trades for you, you have no hope of making profit in any market.

Actually I don't think you work for 21st century anymore because you seem too stupid to realise that their eminis program has barely been available 12 months to this date so there is no way their autotrader scam could have been sim tested for 18 months. You must just be too gullible and believe everything they say.

If anyone is interested in reading more comedy and complaints from people you should read about it here:

http://www.ozripoff.com/report-view/678-jamie-mcintyre-21st-century-academy-fraud

Found another link also of two poor guys that got ripped off by their eminis program here:

http://www.ozripoff.com/report-view/1209-21st-century-eminis-scam

Chesty · 20 August 2010

Hey Builder, you are right mate, not an employee just a sucker who got suckered in. Their product in it's entirity sucks. Having a battle now trying to get my money back, damn stupid terms and conditions of their 90 day money back guarantee !!!

On the upside, I've been having great success with EminiJunkie, his approach is awesome as are his results. I'm slowly building my account backl from where 21st CA Eminis dumbass autotrader left it, approx $1000 down in 5 weeks.

Where to begin with Eminis?

Alpha_Bet

edodeoliveira

CATAPILLAR

Wysiwyg

Everyone wants money

MACD

tthurlow2287

Wysiwyg

Everyone wants money

Chesty

builder2818

Chesty

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