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I decided to take my girlfriend up with me to Orlando. The idea was that the day after the seminar we would go to Universal studios and do some fun things.
The seminar was held in a conference room inside the Embassy Suites hotel where we were staying. There was about ten of us altogether and most of the people there seemed like nice folks. The Guru entered the room with about three other guys and started everything fairly promptly.
The first part of the seminar was to be about how to use the new signal. He began with a long extended presentation of his credentials and resume. Apparently he was an extremely high level programmer, first and foremost. According to him, he was a Cyber security expert and an algo developer for the world's best hedge funds.
He said that most all of the top firms on Wall Street were using his technology, but he couldn't divulge who they were, due to his secrecy agreements he had signed. He said that all of us in the room should feel extremely fortunate to be able to learn from an individual such as himself. I noticed the two guys sitting next to him were nodding enthusiastically to everything word he spoke. They also would say, "Wow" after almost every sentence the guy finished. I deduced that these must be his disciples and were probably brought along to every seminar.
Finally he got around to talking about his new software and signal for Forex trading. He explained that he was constantly fending off hackers trying to conduct "industrial espionage" in order to steal his ingenious technology. They had manged to hack his original Forex signal that had worked so well for me. So the new signal was no longer available on charting like Ninja trader. Instead we had to go to a heavily encrypted webpage to get access. So you would have to look at the signal on one webpage and trade it on your own platform. He said basically the only technique required was to take all signals during your session. Then he said there would be a short break to be followed by a guest presenter. I was extremely disappointed. I paid $2000.00 for some special training and all he said was to take every signal.
I began to ask questions, especially since the signals were generating tons of losing trades for me. I asked, "How can you take every signal? Some of them can be up against support and resistance? What if it's before a news event? Certainly it doesn't make sense to take every signal ?" The disciples glared at me. How dare I question the Master?
He said the only way the math works out with wins or losses is to take every signal within a two hour time slot. Due to the fact that there was no way to backtest the signal ,since it only worked in real time, one had to have absolute faith in this guy and his software. I had some trouble with that.
After the break was over, it was time for the Guest presenter. I assumed that this was some sort of trading expert and maybe I'd learn more from this person. The guest presenter began with a Powerpoint slide presentation. The first slide was of a rather obese fellow, wearing nothing but striped boxer shorts and a glum expression on his face.
I looked around the room and saw I wasn't the only person with a confused look on their face. Then more slides of the rotund guy ..all without a shirt and always looking depressed. One guy in the back of the room uttered, "What the f..k is this?" Then the "guest presenter" explained that these were his before pics and thanks to this marvelous protein powder he was taking, he now was 50 pounds lighter. He claimed if we acted today, we could buy his miracle powder for a ridiculously low price. Even better, he claimed, we could also be distributors.
I was in shock. I paid $2000.00 to be suckered into a Network marketing pitch instead of a Forex seminar ? What the hell was this?
I've been away for a long time but the forum still sends me updates on your thread. Finally clicked over and took a look. Great thread so far and thanks for posting your journey. I think it is beneficial for people to read about others that have made the same mistakes or greater than they have and that it is possible to succeed.
Anyway, good thread and keep it up!
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris