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Hi guys,
Confession time. Like sitting in the circle at AA. My name is D, and I am an addict.
I have actually been keeping an Excel spread sheet for the past couple years totaling my total 'cost' in trading. This post might possibly be better served in the 'Time to give up' thread.
Anyways, here's a list of things I have spent money on directly related to trading:
1.) The Short Report from Stansberry Research (total scam, nothing but losing trades) $3,000 for 3 months and then I got all but $300 back. So total cost of $300
2.) ThinkSwim (not ThinkorSwim) indicator package $1,300, they are not even in business any more. I think there might be a reference on nexusfi.com about them, but I never had any success with them.
3.) New Computer $1,100
4.)3- 24" monitors with stand and cables $560
5.) 4 years of upgraded internet (satellite because I live in the country) $3,850
6.) 'Trade with Mojo' trading room for two months $550
7.) 'Wolf on Wallstreet' Brandt Hackney trading service $750
8.) Matt Davio market profile trading service $550
9.) Evilspeculator.com subscriptions $250
10.) Thinkswim indicators trading room $300
11.) Ninjatrader lifetime license $895
12.) Mentorship with Ivan Krastins Profit From Patterns - $9,500 (yes you read that right)
Being this honest is brutal, but good for me. All totaled, comes to a little shy of 20k, and this does not include my trading losses, which over the same time comes to about 32k in losses, so I have finally hit the +$50,000 in this endeavor.
Yikes! putting it on paper is an eye opener!
-D
“Success is a journey, not a destination. The doing is often more important than the outcome.”
-Arthur Ashe
"...Confession time. Like sitting in the circle at AA. My name is D, and I am an addict...."
Never met a trading system I didn't want to buy. I recognize a lot of those. My poison is trading algorithms.
Right now Bill Williams' Alligator looks promising: two minute bars, healthy active alligator with a 5 period SMA cross over for the trigger. That awesome oscillator, bullish reversal candle sticks, and sleeping alligator and breaks a fractal are all bullshit. (Enter the Dojo)
"Looks promising", how many times have I felt that?
Exactly. Investimonials.com was also created and started by Sykes. Mostly stuffed with plants that it doesn't make any statistical sense and where more people get suckered in droves by believing the "reviews". If that's what's referred to by seeking "other review sites" than Emmett's whose site, while not perfect is the best one at warning retailers from all the tricks of the dubious side of the industry. It's not as tightly filtered and moderated as here on futures.io, but if a poster is traced as a vendor email or ip, the id is highlighted as blue linked at least.
Was it any good? Looks like some kind of price action method?
It's totally price and no indicators. It's like anything, it's all about consistency. He works with you one on one for a year or so, he'll teach you the setups and money/trade management concepts. It's up to you to build a system that works for you and fits into your lifestyle. My biggest downfall with the approach was trading through draw downs, which you will have with any system or method. I have definitely grown in the last couple years and I feel I am closer to becoming a professional. I know that he has had some students who have done incredibly well, and others who haven't been able to make the approach work and went on to something else. As for me, it's not really been a failure on anyone else but myself. He definitely does not sell a system or a package, simply just a method that you can apply to your own chosen markets and time frames.
“Success is a journey, not a destination. The doing is often more important than the outcome.”
-Arthur Ashe
Nice brutal honesty! But to aid in further loss of money by buying books, systems, trading rooms ect..., ask yourself just one question-- Has any one at any time ever given the exact location to their hidden treasure??
“A teacher is never a giver of truth; he is a guide, a pointer to the truth that each student must find for himself.”
Quote Bruce Lee
Quite applicable though. Discovery has been a part of each day that I have traded my own account. As there is not ONE way to trading success, I believe now I use a very blended approach to the markets I trade, recently adding currency pairs to futures. I say without reservation that Al Brooks and price action have been the foundations for my day-trading activities.
so it's my turn,
1st.leadingtrader.com (waste of time)
a copy of the ttm squeeze called the pulse being sold for 300-400$ wich really made me mad after checking the indicator list in futures.io ....
do a review on a weekly basis where he talks about the next possible move by using a software of the elliot wave from the esignal...(that were he lost me)and there are often occasion where a new indicator is being released to buy and make "profit" and strangely i've seen some of them in the download section...just saying
2nd YTC trader and scalper course by Lance beggs (must read)
personally the best book you can buy it's based on price action and S/R levels,even if you don't trade or end up trading his set up,he talks about everything or almost everything you need to trade. money management,trading journal,building check up pre session routine,after session routine and review of the trade,
the psychology.
Sure have probably forgotten more but this goes back to early 2000s.
Lifetime MultiCharts Don't use but it was the LT $895 or $1000 and I use them for order entry although I trade ninja
Lifetime Fib Trade still use. $1495 and $29 a year still use. Use every day. #1 Purchase for me because I don't have to do the calcs for my system.
TickStrike Still use. I use it to read persistent trend to stay in trade. I filter out the low settings.
Scalper Software- I still use like some use other Indicators as a screen. Better than most, probably something on here similar but I bought it in 2004 and still use.
KC Keltner would still would use but not adapted to Ninja. It was the only non-price type indicator I ever had any luck with.
S09. $50 dollar indicator/still use. Sure free ones the same. Same as some pivot plus that mimic Fat Tails but I like the layout. I trade Camarilla Pivots so I like not having to entry and worry about Monday and certain other things that a Non-te
Murrey Math Pro. Still use. Most use too short of time frame- think.
TTT(taylor trading) use a few months was not that expensive. Just not my thing. Prefer Jackson Zone Proabilities.
DayTrading Bias membership been ok. Got in at ground floor. Ground work into seasonal trades outside of Eminis/Jay on the Market Etc..
Trial one of those bar/fat bar Market Profile for 1 month. Used 2 days as I was not smart enough.
Trading View Yearly. use everyday.
APEX free standard deviation if people spend time how to learn the pockets when to trade (Near option expiration weeks is my fave)
Not quite as reliable as Kevin Haggerty levels but come into play more often meaning more daily instead of weekly.
Naturus weekly report for some swing type setups.
Just as good as these:
Cory's indicator on here. And I also like ANA Heiken Ashi bars on the right setting. NVI and Pace of Tape if one spends some time with the screen.