Live trading rooms (PlanetWealth, 21st Century etc.)

[nunthewiser]

By the time I have sent off similar amounts to all the spruikers on the web, I will be able to sit back and watch the riches roll in. Nothing to it.

i am this kinda nun tho

i,ll give you a magic bean for 4k and you,ll make twice as much

 

[sails]

What a bunch of untrusting cynics you all are.

I'd not hesitate to part with $8000 in this instance, because I absolutely believe everyone who advertises they will make you instantly rich really means it and moreover has a foolproof plan that will ensure this.

By the time I have sent off similar amounts to all the spruikers on the web, I will be able to sit back and watch the riches roll in. Nothing to it.

Oh Julia - I nearly choked on my coffee...

And don't forget about mortgaging the house so you can get richer still... And then try to get some OPM (other people's money - eg relatives, close friends )

Sadly, this is what some of the spruikers have recommended in the past - I know from experience. Not that we took up the recommendations, but I am now a confirmed untrusting cynic...

 

[MACD]

Hi All,

Here are my thoughts on this topic.

I tried Planet Wealth for a couple of days. IMO this is not an option as the commission rates are $72 / contract for a round trip. The usual price is $4 to $5 per round trip. This is expensive as they use an auto trader feature which allows them (PW) to buy and sell on your account. You will not learn a thing by doing this. You need to trade yourself and take responsibility for your own actions.

There is also no guarantee with these guys. The last trade they did on Friday went against them and the members lost $1000 plus $144 brokerage.

There is no guarantee trading at all, however if you want to succeed and live to tell a tale then you need to learn to fish and survive. You will not make it if you continue to wait for people to put fish on your plate for you.

I joined Traders International for exactly the same reasons as most people do. Great marketing, good manufactured results and supposedly easy money and instant wealth! What a surprise I got. I spent over $10k for the dream and ended up making a large loss by following the "expert professional trader", who actually doesn't trade a real account but only trades in simulation. What a joke! After a while, I realised that this was not working, so I turned TI off, and started learning to trade for myself.

I'm now trading the S&P and Dow Jones, using my own charts, signals and methods and am making money. It just takes a lot of time, patience and effort. If you are not prepared to put in the time, effort and patience, then trading is not for you. Rather put your money into a managed fund and forget about it!

You do not need to spend hundreds and thousands of $$$'s of websites, trading rooms, magic secret systems etc. There is a ton of good free stuff on the internet. Spend a bit of timje doing your research - and you will be rewarded.

Happy trading

 

[overit]

Here are my thoughts on this topic.

Good post. Everyone should read that.

 

[trainspotter]

*tear comes to my eye* Congratulations to you MACD:- this is the best first post I have ever read. Sound in it's logic, truthful beyond reproach, succinct and concise, measured with detail and completely unbiased in every way. Absolutely fantastic.

 

[pustanio]

Hi All,

Here are my thoughts on this topic.

I tried Planet Wealth for a couple of days. IMO this is not an option as the commission rates are $72 / contract for a round trip. The usual price is $4 to $5 per round trip. This is expensive as they use an auto trader feature which allows them (PW) to buy and sell on your account. You will not learn a thing by doing this. You need to trade yourself and take responsibility for your own actions.

Thats exactly what I was looking for, someone that has actually tried it.

I knew their brokerage rates were way high, but I figured I could live with that for the autotrade feature.

Granted you dont learn anything using it, but had hoped that I would be infront rather than behind at the end of the month.

 

[keatir]

I also have just seen the lifestyle trader video, watched it on the weekend. I have been hunting through the old threads looking for opionions regarding that system. All I could find was some stuff from a few years back which called it a scam.

If it was so good you would think people would come here to share their experiences. Problem is that if anyone did they would be shotdown as someone trying to promote the service.

I really wish ASIC would test the system and put out there results. That is about the only review I would believe.

I like the simplicity of the system but as you guys say there are cheaper ways to get that data.

I guess if I want to trade it is going to be a long hard slog and I need to learn the stuff myself. The problem is that there is so much out there and knowing what is crap or not makes me want to just give up before I really get started.

 

[J.Baker]

excuse me ???

not 2 posts ago on other threads you are asking newbie questions regarding basic stuff of which I REPLIED too

something suss around here champ , if i could be stuffed i would post your previous posts , but i will just say to any reading this to do a SEARCH on previous posts instead

avaniceday

Perhaps you have not read my post correctly CHAMP... I've been trading futures for over a year. I was simply asking in other post a few extra things I may be able to try... Dont you dare slander my name without fact.

 

[J.Baker]

250 a week on a 1 lot is hardly an edge. That could turn on it's head very very quickly.

I'm still to hear of or meet anyone genuine who has made more than the costs out of these type of things.

Would be more than happy to be prooven otherwise, even by the guys who created it themselves.

Your Right, It can turn fast. But I put stop loses in place so If I have a bad day, or week I'm not risking my acct. The most I alow myself to lose in a week is only what I'm making per week, 250. Its up to you what you belive or what you may think from other peoples post etc. But you will never know fully untill you try it yourself..

 

[mazzatelli]

Your Right, It can turn fast. But I put stop loses in place so If I have a bad day, or week I'm not risking my acct. The most I alow myself to lose in a week is only what I'm making per week, 250. Its up to you what you belive or what you may think from other peoples post etc. But you will never know fully untill you try it yourself..

He doesn't need to. He is a professional futures trader at a prop firm.

If I am not mistaken TI advocates R:R of 1:1 on their futures scalps and have a lot of faith in the indicator interpretation. Not saying you cannot make money, but there are better ways to trade than that.

 

[J.Baker]

He doesn't need to. He is a professional futures trader at prop firm.

If I am not mistaken TI advocates R:R of 1:1 on their futures scalps and have a lot of faith in the indicator interpretation. Not saying you cannot make money, but much better ways to trade than that.

Ok, I didn't know that obviously.. with TI my RR is 3:1 and my stops are less than my takings 2:1... So your right, Im not making loads of money, but I am happy with where I am and the level of service / help they provide. I only trade an hour per day, 4 days per week so to me 250pw with the future potential of maybe 2,000 ( long time away ) Im more than pleased.

 

[nunthewiser]

Perhaps you have not read my post correctly CHAMP... I've been trading futures for over a year. I was simply asking in other post a few extra things I may be able to try... Dont you dare slander my name without fact.

yawn..................

i read your posts , i commented on your posts , this is a public forum , i posted what i thought ..........

p.s please keep your abuse in the private messaging sytem to a minimum as im getting bored with jokers calling me names via the private message thingo

kinda childish really but hey i understand your frustrations darl

avaniceday

 

[mazzatelli]

Ok, I didn't know that obviously.. with TI my RR is 3:1 and my stops are less than my takings 2:1... So your right, Im not making loads of money, but I am happy with where I am and the level of service / help they provide. I only trade an hour per day, 4 days per week so to me 250pw with the future potential of maybe 2,000 ( long time away ) Im more than pleased.

I think the most valid question MRC asked was whether costs can be recovered, not whether you can make money on an individual trade basis.

Trading is a business so if I remember right the TI course is ~ $8k. On top of that they make you pay monthly subscription fees for their trading room, not to mention monthly fees for the futures trading platform and roundtrip commissions per trade. I just swung by the website and it looks like they advocate eSignal which is also pricey.

Will the 250pw you make ever have a chance to recover the intial capital outlay as well as pay for the subscription to the trading rooms?

There is a chance you will increase profitablility, but it is also equally likely you can experience drawdown.

I am not suggesting you are a spammer, but this is possibly the service you are dealing with. I knew people who joined this service and complained about the same things.

Forum complaints

But good to see you exploring further outside of TI [I suggest a look at the "Nothing to something scalping" thread].

 

[mazzatelli]

yawn..................

i read your posts , i commented on your posts , this is a public forum , i posted what i thought ..........

p.s please keep your abuse in the private messaging sytem to a minimum as im getting bored with jokers calling me names via the private message thingo

kinda childish really but hey i understand your frustrations darl

avaniceday

LOL
Then I'll call you names in the public forum!!!
CLOWN!!!
Joking

 

[nunthewiser]

LOL
Then I'll call you names in the public forum!!!
CLOWN!!!
Joking

thats much better

 

[J.Baker]

yawn..................

i read your posts , i commented on your posts , this is a public forum , i posted what i thought ..........

p.s please keep your abuse in the private messaging sytem to a minimum as im getting bored with jokers calling me names via the private message thingo

kinda childish really but hey i understand your frustrations darl

avaniceday

Lol ease up on the abuse comment.. I simply said I disagree with your comment without raising the issue on a public forum because people are not here to listen to arguments, they are here for help, and advice etc... I'm more than happy to post exactally what I wrote to you on this page .... I said your a jerk and you may just think your superior or just be a dick. I think you may be blowing things out of context..... From what I gather, people are on this forum to learn and grab advice. I think if anything it is you who is being childish by causing such an argument. And going by what you said about being sick of people calling you names, perhaps thats a good indication that it is you who is causing conflict?

I could not care less what you think of my post or your assumption as to where I'm at with my trading. And I do not think it is appropriate for you to post such a reply based on that. For my, or anyones post reguardless of who they are and what they think.. But your right, you are entilied to your opinion, but a certain level of respect should be included. You must not have any.

 

[J.Baker]

I think the most valid question MRC asked was whether costs can be recovered, not whether you can make money on an individual trade basis.

Trading is a business so if I remember right the TI course is ~ $8k. On top of that they make you pay monthly subscription fees for their trading room, not to mention monthly fees for the futures trading platform and roundtrip commissions per trade. I just swung by the website and it looks like they advocate eSignal which is also pricey.

Will the 250pw you make ever have a chance to recover the intial capital outlay as well as pay for the subscription to the trading rooms?

There is a chance you will increase profitablility, but it is also equally likely you can experience drawdown.

I am not suggesting you are a spammer, but this is possibly the service you are dealing with.

Forum complaints

But good to see you exploring further outside of TI.

I dont use esignal for that reason, I have ninja trader and use their charts + the charts displayed in the room.. Subscription was not 8k, from memory is was 6. Monthly fee is $200 and round trip is 4.80 from my broker... I get nonthing from commenting on TI so this is NOT spam... I have a day job. I do not need to be busting my nut to make money on futures just yet. I am happy where I am, Im making good money for the time I am spending trading and I am learning A LOT.... Im sure you guys are smart enough to know big money is not maid right off the bat. But hey, lets pick on the new guy... Anyone else wanna line up?

 

[mazzatelli]

I dont use esignal for that reason, I have ninja trader and use their charts + the charts displayed in the room.. Subscription was not 8k, from memory is was 6. Monthly fee is $200 and round trip is 4.80 from my broker... I get nonthing from commenting on TI so this is NOT spam... I have a day job. I do not need to be busting my nut to make money on futures just yet. I am happy where I am, Im making good money for the time I am spending trading and I am learning A LOT.... Im sure you guys are smart enough to know big money is not maid right off the bat. But hey, lets pick on the new guy... Anyone else wanna line up?

I'm not picking on you and explicitly stated that I didn't think you a spammer.

I am trying to point out that you could be standing in a pile of sh*t without realising it. Whether you consider the arguments is up to you.

Especially because money is not made off the bat, people here are advising to stay away from expensive trading courses when similar material can be obtained for much less money. That is not to suggest the trading courses do not work, but if you could get it for $100, why would you pay $6k.

 

[J.Baker]

I'm not picking on you and explicitly stated that I didn't think you a spammer.

I am trying to point out that you could be standing in a pile of sh*t without realising it. Whether you consider the arguments is up to you.

Especially because money is not made off the bat, people here are advising to stay away from expensive trading courses when similar material can be obtained for much less money. That is not to suggest the trading courses do not work, but if you could get it for $100, why would you pay $6k.

Ok, NP... Just relating to a few of the above comments by one member... I don't agree that is crap at this point ( Ti ) but Yes, there is a chance it may be and thats the risk I took. Didnt feel confident in taking on trading on my own because I don't have the knowledge. Eventually I will find something that works for me, it may not be futures with Ti but at this point I am confident its going to be a good thing for me and if anyone else was to ask I would certainly recommend them.

 

[trainspotter]

J. Baker wrote "Im sure you guys are smart enough to know big money is not maid right off the bat. But hey, lets pick on the new guy... Anyone else wanna line up?"

Another classic example of the "chip" and the "seagull" syndrome.

Aaaark , Aaaark, Squawk.