I saw your website and it is interesting. I am in the classes also just wondered how you like it and if you have had any success yet. I have only gone to the master trader class so far and am going to attend the covered calls shortly. Just wondered when you are going to get your mentor and what package you chose. The trading room class sounds interesting so you can actually make some money. I got a call to do the coaching also however I didn't like how they were pushing me in to purchasing it, my teacher for the master trader class said it would just be a rehash of the class, I was wanting your opinion to see if you think it has helped you. I am really excited about becoming a trader but getting started is frustrating especially when trades go against you. I have been paper trading for a while and got some consistency so I did a couple real trades and they got me down because they went the wrong way. Just wanted your opinion on the classes and school.
I've been paper trading and am beginning to see some consistency with my choices. It takes some practice. If you read my post-mortem on my second update to paper trading, you'll understand how I'm learning from my past mistakes. The way I see it is that this is the best way for me to get the most of my experience. It's not simply enough to do this half-heartedly. On every trade it's important to evaluate what went wrong and what went right. A trading journal is an invaluable learning tool. I don't know if you've started a trading journal but I'll post about what I'm tracking in my trading journal soon. I'm just a burgeoning trader and am cutting my teeth with paper trades, but let me tell you, I'm managing them and thinking of the trades exactly as if they were real money.
To answer your questions about what package etc... My father and I purchased the Platinum package: 4 advanced training courses and a couple days with a mentor. Eventually we were sold an add-on package of coaching, an additional class, and another couple days with a mentor. I jumped on this opportunity, because the sales pitch was just that good. In retrospect (and gently stated earlier in my blog), although I'm very happy with the coaching I'm receiving, I'd rather have only paid $3,500 for the coaching alone, as I feel I already had purchased enough classes and time with my mentor to become a professional trader, and could eventually add the classes on with money that I make in the markets. However, I will be taking advantage of these additional courses and look forward to taking advantage of all that I've paid for.
I really cannot state strongly enough how happy I am with the coaching. It's a weekly call that helps keep me in the rhythm of trading and also gives me an experienced trader to ask questions of. It's not just a rehashing of the Master Trader class, at least not with my coach. Having taken Master Trader has given me the foundation to get the most from my coach and he's helped me tremendously towards putting the theory and lessons learned in Master Trader into practice. It's taken the "what do I do now?" question out of the equation with a simple set of building blocks that add to my arsenal of tools to help me choose the best trades. Given the choice to do this all over again, I'd definitely choose the coaching program.
Of course this is just my opinion. Everybody has their own pace and style and the person you'll learn the most from is yourself. You may not need the coaching, especially if you manage to journal your trades at open and close. It may not be intuitive, but you can have the majority of trades go against you and you can still make money. I'm just starting to see a net positive from my positions. It is hard to take to watch trades go against you, but that's just part of the game. Having a system helps remove the emotional component which can otherwise scare you out of the market. Refining that system to meet current market conditions seems to be the way to make it as a professional trader. Consistency and discipline in your day-to-day trading routine will eventually make you the trader that you want to be.