FT71 video - pretty brutal

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BeginnerJoe said:
Just a beginner making beginner's mistakes. I doubt other beginners will learn anything from that without having to go through the same mistakes themselves.
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I wish it was, but most traders goes trough this kind of experience despite them being around for considerable time. A really good and constructive video but the trading mistakes can't be avoided entirely in order to become a good trader. I believe risk & money management must be firmly implanted in your backbone and the only way is to make these kind of mistakes yourself.
 
as for brutal? well if she screwing up after paying for training then is it not expected to get pulled up when seen screwing up?

haven't figured out yet if they are straight paying customers or trainee prop traders under training via remote or some such?

is this thread a lead in to promo or just spreading the word on ft71's training by any chance?
 
Lightning McQueen said:
as for brutal? well if she screwing up after paying for training then is it not expected to get pulled up when seen screwing up?

haven't figured out yet if they are straight paying customers or trainee prop traders under training via remote or some such?

is this thread a lead in to promo or just spreading the word on ft71's training by any chance?
Click to expand...

As far as I am aware, FT71 doesn't provide 1 on 1 training. There's nothing to lead into.

He does provide some webinar recordings on line. These webinars come at the massive price of $129.99, all of which goes to a US charity. They cost about 2x the price of the book that CD recommended.

Note that the book seller is also a vendor!

The webinars are all based on auction market theory - not quite Dalton but along those lines.

He is owns a prop shop and a bokerage. I guess that makes him some sort of "uber vendor" in the eyes of our resident vendorphobics.

I think it would be fantastic if all brokerages did this. Obviously the brokerage itself makes more money in the long term if their clients don't blow up, just that I've never heard of one that bothers.

Perhaps we can encourage PBoyles to do an expose on FT71.
 
Here's another evil vendor with some free stuff - Jim Dalton.

Please DO NOT watch the webinars on this page:

James Dalton Webinars | J Dalton Trading

Especially, take no notice of:
The Importance of Understanding Overnight Markets for Short-term Traders
Identifying Day Timeframe Trade Opportunities
Trading Low Volume, Low Confidence Markets

LM, CD - have a field day critiquing this stuff without watching it.

Where's PBoyles to 'expose' Jim Dalton?
 
ZEN archer said:
I watched 1/2 of it. They had problems with the presentation for some time and afterwards it got better, but I got so bored I couldn't watch any more. Sorry about it - I was trying my best:(

Maybe trading videos are not for me:confused:
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Yeah, as the official video verifier, I rate this video C minus. Just stick to my selection of youtube videos and you'll be fine.
 
DionysusToast said:
Here's another evil vendor with some free stuff - Jim Dalton.

Please DO NOT watch the webinars on this page:

James Dalton Webinars | J Dalton Trading

Especially, take no notice of:
The Importance of Understanding Overnight Markets for Short-term Traders
Identifying Day Timeframe Trade Opportunities
Trading Low Volume, Low Confidence Markets

LM, CD - have a field day critiquing this stuff without watching it.

Where's PBoyles to 'expose' Jim Dalton?
Click to expand...

lol. i just watched some of the 'trading low volume' sale presentation for kicks. I would firmly place him in the intelligent vendor category same category as yourself, there are definitely things he talked about that I agreed with however it was clear to me he was either keeping his cats in the bag or he doesn't have any cats in bags. I would suspect the latter as if he really did have cats in bags he would stay in the shadows and smash up the market.

all in all I found it entertaining. the idea that a long term profitable trader who trades a 7 figure account records sales pitches is quite frankly hilarious.

:cheesy::cheesy:
 
ChocolateDigestive said:
lol. i just watched some of the 'trading low volume' sale presentation for kicks. I would firmly place him in the intelligent vendor category same category as yourself, there are definitely things he talked about that I agreed with however it was clear to me he was either keeping his cats in the bag or he doesn't have any cats in bags. I would suspect the latter as if he really did have cats in bags he would stay in the shadows and smash up the market.

all in all I found it entertaining. the idea that a long term profitable trader who trades a 7 figure account records sales pitches is quite frankly hilarious.

:cheesy::cheesy:
Click to expand...

The first 2 videos will resonate with anyone that trades the ES in the first hour.

Now - the question is - if you weren't already trading that first hour & observing overnight action/morning reaction - would you learn it from this video? It's hard to say. You'd have to take a newbie & drop them in front of the videos and see if they got anywhere with applying it.

Joe has already emailed Jim for a statement, so we should have a reply to your last point then.

In the meantime, I think we should focus on this chap: http://www.trade2win.com/boards/futures-options/156112-critique-video.html
 
pboyles said:
$1400 for a one day seminar?

James Dalton Trading
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To put this in perspective, when I was 26 (I am 42 now), I was earning $900 a day.

Last time I spoke to someone at Gartner Group, they told me their consultants would be $10-14k per day.

If this offering was $50/day - you would say - what a chump, what could you possibly get from a $50 a day course?

If it's $5000/day - you would say - what a ripoff, who charges $500/day?

I think you need to focus on value, not price. Not that I know if this stuff has value or not.

We have to have balance here. Are we going to see something, wait for the first thing to pop into our heads and critique it on that basis? That is very easy and quite lame.

Now - I don't know much about Jim. I do know he gets paid to advise funds, I know he's written 2 very interesting books. He's in his 60's for sure.

Now - the thing is - the 'young bucks' on here are asking "If he's making lots of money, why would he teach". This actually got me thinking today.

- If you were in your 60s - would you want to trade every day?
- If you were in your 60s & had millions in the bank, would you want to make your mark? Would you want to sit back with a tart, some coke, champers and root the day away?
- If you had $$$$$ - why would you open a prop shop and teach people to trade your money instead of just trading it yourself?

That first question is easy.
The second question - well I'm not 60 but perhaps it comes down to having a purpose once the money thing is squared away (so why not do it for free? etc),
The third question - never really considered it until about 60 mins ago...
 
Why do no courses and so on from known, high profile profitable traders exist?
If anyone is that good at what they do and merely undercapitalised,
they would be chasing up banks, prop firms, funds etc.

What possible realistic reason is there for anyone that knows what they
are doing to sell courses for $750?
If nothing else, dealing with plank customers would be enough of a chore...

To my mind, with higher frequency trading, it would be better to pursue
exchange membership and a leased seat.
Lowering costs would seem more worthwhile,
rather than p1ssing about with chump change courses.
So why do they do courses and training?

Personally I find the whole idea of someone training you,
or providing some other means to potentially reduce their own
liquidity ludicrous.

The only reason that ever happens and is worth anything is when the
trainer is going to let you loose with their money working for them.

In answer to other points raised about not wanting to trade anymore:
Richard Dennis - Wikipedia, the free encyclopedia
Welcome

Neither do any profit related trading education or anything else.
In fact Dennis has been active in politics.

Fact is Jim Dalton charges money, why if he has no need for it?
 
DionysusToast said:
As far as I am aware, FT71 doesn't provide 1 on 1 training. There's nothing to lead into.

He does provide some webinar recordings on line. These webinars come at the massive price of $129.99, all of which goes to a US charity. They cost about 2x the price of the book that CD recommended.

Note that the book seller is also a vendor!

The webinars are all based on auction market theory - not quite Dalton but along those lines.

He is owns a prop shop and a bokerage. I guess that makes him some sort of "uber vendor" in the eyes of our resident vendorphobics.

I think it would be fantastic if all brokerages did this. Obviously the brokerage itself makes more money in the long term if their clients don't blow up, just that I've never heard of one that bothers.

Perhaps we can encourage PBoyles to do an expose on FT71.
Click to expand...

the reason i questioned it is the fact i was intrigued as to the (your) motivation to be looking at, or happening to stumble by, a video from their "trader education programme" seeing as you are quoted (somewhere?) as being adamant 99% of trading education is worthless.

first look see the type (if any) of training on offer from these people. well that's not directly clear. they are primarily a prop outfit and brokerage. there are plenty of references to their "training" qualifications and public access to "extensive experience in what it takes to recruit, train and turn a new trader into a profitable one" my take is they do remote trader training for wannabe prop traders via remote, this is jodie.

next look was vanKar trading, and a look at the platforms they provide. it comes as no surprise that ninjatrader is on the list.

now knowing ninja is on the list let's look at their twitter feed

you liked the vid so much you just happened to have found you did a victor kiam and subscribed to their tweets!

lastly let's look at your site, oh! look you are affiliated to them and you link to their training and they likely sell your product too. fancy that!

why the hell has admin allowed this thread?!
 
Liquid validity said:
Why do no courses and so on from known, high profile profitable traders exist?
Click to expand...

Is Jim Dalton not a high profile trader? Damn - I thought he was.

Liquid validity said:
If anyone is that good at what they do and merely undercapitalised,they would be chasing up banks, prop firms, funds etc.
Click to expand...

Agreed - but what about someone that has been trading 30 years and has a nice pot already? They should trade 8 hours a day, lacking human contact? Should they not do anything else?

Liquid validity said:
What possible realistic reason is there for anyone that knows what they
are doing to sell courses for $750?
If nothing else, dealing with plank customers would be enough of a chore...
Click to expand...

I totally agree. Here at 42 years old, with fingers in 3 pies. I see no reason for another pie. I also see no reason to engage in a pie that would tie me up 9-5. That seems like the exact opposite of what I'd want to do. But let's say you were accomplished trader and father/husband. Your kids leave and your wife dies of cancer. Do you sit in a room trading futures day in day out?

Do you find something else to do. If the latter, are you a charlatan because you don't do it for free?

Money is not the sole motivator, although it seems that way if you lack money.

Liquid validity said:
Fact is Jim Dalton charges money, why if he has no need for it?
Click to expand...

What do you do for free? The fact that he charges is not the key point. The key point is "does he deliver value?".

I think some of this vendorphobia has reached an extreme. Some people are now looking to trash ANYONE that provide ANYTHING based on the flimsiest of arguments.

If you charge, you are a charlatan, if you DON'T charge, you have an agenda.

You guys never think about what you might do when you get older? You never thought about how your motivations may differ?
 
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