Tuesday, August 22, 2006

Another New TMTT Student

On 8/20/06, Bob* wrote:

Howdy, just signed up for the classes on Saturday for TMTT. One thing I don't here about is people that have completed a couple classes complaining about how bad they were. The people that are doing most of the complaining are the ones that did not move forward. I did find a person that after a couple of years after TMTT she quit her job. Some girl in Indiana.

I actually feel pretty good about this.


Hi Bob*,

There are some people that are upset with TMTT because they want their money back. You can read more about it on ripoffreport.com and I'll be posting something about it sometime soon too. Honestly, I don't know what people expect sometimes. If you blindly listen to the sales-pitch only, without critical assessment of what's being offered and a healthy skepticism of the claims being made, you probably don't have the capacity to think independently and succeed as a trader. The marketing of TMTT is quite aggressive, and there are probably many people that buy their educational materials that really shouldn't. However, if you're serious about trading, TMTT can certainly help you. As you noted, I and many others do like the classes. At the time I bought their classes there wasn't any positive reviews of the company nor programs, just a bunch of shallow arguments about how it's a scam without any first-hand knowledge. Their courses are expensive... VERY EXPENSIVE, and they do promise a lot, but what they teach brings the most important information and tactics within reach of even the inexperienced. I see trading as the something I'm going to do for the rest of my life. 20 years from now I'll still be trading. I'm going to be smart about my money management and make every effort to trade well.

I decided to put together the blog because it's something I'd like to have seen at the time I signed up. A real, in-depth, honest assessment of what I would be getting in to. That, and the blog does help keep me honest :-P. Also, I figured that if it was a scam, I would provide a first-hand account of the scam to help prevent others from getting ripped off. If you're disciplined about learning and applying what they teach, you should do well. Definitely look for a cheap brokerage firm... Slippage and commissions can kill you as a trader. I wish you the best and will be starting a discussion board for fellow TMTT students. I already have the server and look forward to collaborating with other traders :). Best of luck to you!


On 8/22/06, Bob* wrote:

Thanks Mark. My wife and I are moving ahead we believe in what they are trying to teach people and we in it for the long haul. I will keep you up to date to our progress and knowledge and we can look at some charts together to help our progression to professional traders.


I highly recommend The Complete Trading for a Living by Dr. Alexander Elder as a good place to start, even before TMTT classes (and it's only $40, including the study guide in a leather bound edition, I bought the study guide separately and spent more!). Add what's commonly known as the Technical Analysis and Options "Bibles": Technical Analysis of the Financial Markets by John J. Murphy and Options as a Strategic Investment by Lawrence G. McMillan, and you'll have a head start on trading and be even more prepared for what TMTT will teach you.

If you check my blog, you'll see that I recycled the above statements from another email response... These books are really terrific. You can read more reviews and such on Amazon, but I can't stress enough just how useful I find these books. I haven't spent a lot of time with the Options book, but know that I'll refer to it in the future again. For the moment, I'm concentrating on mastering my technical analysis and trend spotting skills. I'll increase my leverage with Options when I'm more consistent with stocks.

I look forward to collaborating with you and others about stocks and options and will get a discussion board up very soon to facilitate the information exchange.


*Name has been changed to protect the presumed innocent.


Anonymous said...

I had the worst experinece of a 24x7 support of TMTT. I have been trying to get to the cust. support via all available numbers and options, but all lead to a dead end of phones getting disconnected. This may go in to the ripoff list.

Anonymous said...

Eli... to me, the people that keeps complaint about TmTT, are losers, people that did not complete the classes, people that did not understand (because it is kind of complicated - not to me) so is better of complaint and spend time here saying bad things about a company of which are offering great seminars and tools. My husband and I attended to a seminar on october of 2006 and I am quiting my job pretty soon, you know WHY, because we are making money whith the knowledge we acquired learning with TMTT. Good luck to those are positives about anything in life. People, stop complaining and move forward to your lifes.

Anonymous said...

I don't understand why folks keep signing up for these programs, get some real world experience, join www.societecaribe.com, they will tell it to you straight...

Anonymous said...

Just an FYI -- to those of you who buy the classes (which I did), there are few things that they do not tell you in the class, when you purchase the further training classes:
1) the classes all must be completed within 1 year. I didn't know this, and when I went to try to begin signing up for my next class I was told I had to pay an additional $500.00, after I had already paid $20,000. for the package of classes.
2) the software (Trade Center and Trade Seeker) that you purchase with the package -- after 1 year (I believe) they start charging you about $60.00 per month - AFTER you've already paid for the software with the package.

The classes are good, but I felt they should have been more clear about the timeline and future costs.