Interceptor
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Has anyone heard anything, or experienced anything, with/about/from Nick McDonald and Precision Trader?
Precision Trader
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rgsharp
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Do what I did and go and meet him in person, see Free Indices
for the next free presentation London. If you can't get to London he often writes in the Trader mag. There are links to his recent articles in the above web site.
for the next free presentation London. If you can't get to London he often writes in the Trader mag. There are links to his recent articles in the above web site.
Interceptor
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I've already been.
It's just the age-old Question Number 1 when you hear the sales pitch by any of the trading tutors out there; if you are making tons of dosh out of trading, then why are you in a hotel basement trying to persuade novices to give you their money?
The first time I get an adequate explanation to that question, I'll be getting my chequebook out!
It's just the age-old Question Number 1 when you hear the sales pitch by any of the trading tutors out there; if you are making tons of dosh out of trading, then why are you in a hotel basement trying to persuade novices to give you their money?
The first time I get an adequate explanation to that question, I'll be getting my chequebook out!
Trader333
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Two reasons that I can think of:
1) It makes sense to diversify income streams. For example, if you are a trader and become unable to trade through illness etc then your income disappears. I have made a point of developing passive income streams so if I am unable to trade then I still have income.
2) It is much more profitable to give seminars than it is to just trade. This one is obvious in my view as all you do is work out the income some of these people get. I remember seeing that one (not to be named so called guru), had a weekend seminar with 150 attendees at £3K a time. That means for 2 days work they received £450K. Now tell me any trader out there that can make that kind of money in a year let alone 2 days.
Paul
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If I was a rich man etc etc, I might be too busy with the yacht and the supermodels to be taking up teaching!
rgsharp
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But, with all due respect x75, you are clearly not a Rich Man hence your interest.
IMHO nobody every got extremely good at anything, with out first learning their trade from another. Airline Pilots, Golf Pros, Grand National Jockeys etc. Even people learn to walk, talk, laugh, smile, cry, etc. from someone. How are you able to do the job you currently do x75?
BTW good luck in your trading.
Richard.
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The point which I'm increasingly finding difficult is this;
I've recently re-read the Market Wizards books, and the majority of these multi-millionaire trading superstars don't seem particularly over enamored with either trading tutors or technical indicators! In fact the only indicators which seem to get a consistently average-to-good press are Moving Averages. The conclusion I'm drawing is that trading successfully ultimately depends on a marriage of trading style and personality, and the only way of finding a style of trading which works for you is by trial and error(and perseverance).
Unteachable.
I've recently re-read the Market Wizards books, and the majority of these multi-millionaire trading superstars don't seem particularly over enamored with either trading tutors or technical indicators! In fact the only indicators which seem to get a consistently average-to-good press are Moving Averages. The conclusion I'm drawing is that trading successfully ultimately depends on a marriage of trading style and personality, and the only way of finding a style of trading which works for you is by trial and error(and perseverance).
Unteachable.
rgsharp
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See my reply: post no.2 in this thread.
IMHO. very genuine Trader who teaches set ups that he uses and more importantly demonstrates them in live trading.
You can see this for free and then decide for yourself.
Also, has a very good post on this site explaining how to use Fib. correctly.
do you have the link to the site
kneecapistanio
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The 'gurus' teach because novices aim up to 70% of their focus on learning the next get rich quick scheme - they haven't yet learnt that trading success comes from mastering ones own mental state and trading psychology. This keeps a steady stream of people looking to learn trading strategy.
Another thing is that if you teach something you have to believe in it 100%! If you don’t believe in it 100% then you can’t possibly hope to make consistent returns from it. I think that’s where the average novice falls flat - It’s in self belief. I mean how often do you have two failed trades in a row and on the next signal get the urge not to take it? Usually these missed trades are the day's runner which is then chalked down to missed opportunity adding a little more frustration to an already difficult task of taking money out of the markets consistently!
The limited times I have met Nick I can tell that he knows how to trade well, he has 100% belief in himself and his strategies and as a result takes consistent returns from the markets.
Another thing is that if you teach something you have to believe in it 100%! If you don’t believe in it 100% then you can’t possibly hope to make consistent returns from it. I think that’s where the average novice falls flat - It’s in self belief. I mean how often do you have two failed trades in a row and on the next signal get the urge not to take it? Usually these missed trades are the day's runner which is then chalked down to missed opportunity adding a little more frustration to an already difficult task of taking money out of the markets consistently!
The limited times I have met Nick I can tell that he knows how to trade well, he has 100% belief in himself and his strategies and as a result takes consistent returns from the markets.
Bint_Crusher
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Mcdonalds teaching is good. The strategies are good. The aftercare/mentoring is by all accounts good. The only problem is he does this on the cheapo cheapo. Hiring a small room in a cheap hotel suggests lack of funding and preparedness to help. Also with 100 students per room this could just as easily be delivered online.
I think he has diversed into that now.
I think he has diversed into that now.
