(2 votes, average: 5.00 out of 5)
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You will note the question mark in the subject line. I am so tired of hearing and reading everywhere that day trading is some easy gig that anybody can buy and ebook or take some course and suddenly become an expert at. Nothing could be further from the truth. Don’t get me wrong I understand that most of the people touting this nonsense are people trying to sell you that ebook or course and shame on them.
Day Trading could very well be the perfect home based business. But like any business it takes work, effort and a skill set. If day trading was as simple as these snake oil salesmen would have you believe why with all their simple foolproof systems does the day trading game still sport a 90% failure rate among new traders?
Well sadly a good part of that is due to this con-men. If you want to learn to trade, I mean really want to learn you have to take course and learn about the market and learn how to control your emotions most of all. But the way NOT to become a trader is easy, buy any one of these Day Trading Made Easy type course and then flush your money down the toliet.
I speak from experience having purchased many of them in my time to learn to experiment and just out of plain curiosity. 99% of them give you a bunch of mumbo jumbo about how rich they are going to make you while they quote killer trading days in their salespitch all the while neglecting to tell you those are demo results and a blind monkey could be in profit on a demo account.
Ok so what draws people to these people? It’s the lure of day trading, the ability to get up in the morning fire up that computer and click a few buttons and poof you’re up a few grand before you used to be taking your first coffee break of the day when you worked for the “man”. They sell hope, they sell dreams. They just leave out the real learning curve to get there.
Day Trading can be great, the upside is amazing, you really do get to be your own boss. You obviously can set your own hours within reason, depending on what markets you plan to trade. Unlike many online businesses out there you don’t have to recruit friends and family and you don’t need any of those crazy uplines, downlines, powerlines, upside down super duper matrixes… just little old you and your computer.
But don’t be fooled into the hype about how easy it is, or you too will end up on the heap of broken traders. Learn about day trading, learn the markets read some books, join a few trading sites, really see if this is what you are cut out to do. It’s really not for everyone.
When you’ve taken all the steps needed to get as much as you can, well then and maybe then you can start looking into various trading methods out there. But don’t fall for the old con, there are NOT secrets to trading, no old floor trader on his death bed passed on the secret method to make you rich, so don’t waste your money on those things. If you want to trade, hang out with traders, not MLMers.
If you need or want any further info on this crazy day trading game, drop me a line. I love to talk trading.
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I've skimmed through this post and wonder how many people of the skeptics have actually tried to learn Gary's methods. I've decided to start up the classes again (on CD) to refresh before I start practicing. If there is anyone that would like to bounce off ideas starting March 2009 please contact me
Im a college student who took 1-5 live in '06 and havent been practicing due to lack of discipline. My Dad took 1-5 in 05 and RTP in 06 and again in 07. He has not missed a single day of homework since the night after class 1 and now reads over a book a week(he had read about 2 since he graduated college). He's better with money and will be 100% debt free(mortgage included) this year at 45. This also stemmed from him taking Gary's class and learning about financial responsibility. So from taking Gary's class my Dad has changed the way he thinks, acts, and buys. In my opinion that is worth more than what Gary charges. Oh and for those who are asking for "has anyone done well with Gary's class" My dad was up 25% in January and has made 3 trades this month and is already at 12% for February. He also has not missed his 10% per month mark in 10 months. It funny seeing these people bashing Gary's system instead of just admitting that they don't (nor do I) have the dedication to put in the 1-1.5 hours a night my Dad(and anyone successful in Gary's class) does into market research.
sI have spent the majority of the last year doing little other than focussing on Gary's courses..... ALL of them (WSB, Advanced, RTP, DE). I have been trading real money for quite some time now. I can promise you that most people will fail at trading -- not because of Gary's teachings, but because of the amount of dedication and intellectual commitment needed to make it work. That said, I am in the fortunate position to be able to dedicate nearly unlimited time to the process and have been pleased with my results so far. I would say I am operating roughly at 70% capacity right now. It has been difficult to fully integrate everything at the same time it is learned. As with anything, though, it all gets easier with time. Let me say that I was very suspicious of Gary and the classes at first. If I'm being completely honest I have been suspicious throughout the process of learning as well! I have a business background, and through hard earned experienced I have learned to believe only that which is proven. My first several months did not show much success, and I grew more and more uncomfortable with Gary's assertions and claims of performance. I decided that I hadn't fully committed to the process yet (heck, I still didn't understand some of it!), so I promised myself I would withhold judgement until I had given it a full test. I am much farther along now, and I can tell you I am CERTAIN the education Gary provides can result in a very lucrative income. My returns in the W&O leg far exceed the 5% target. In fact, as the market dropped significantly this month, I had my highest monthly return yet. Most of my efforts have been focussed on the W&O leg, so I do not yet want to comment on the pure trading leg. I want to caution anyone who thinks this is a fast process, and original approach, or anything at all easy. All you will be offered is a ton of information and a template with which to use it. Gary admits he has stolen a little from here and a little from there all along the way. The huge book list he recommends shows many of the techniques and mindsets he teaches, yet it seems he has done all the filtering of good and bad information for his students. I consider him a conduit of information, and I intend to take full advantage of what he offers. At the end of the day, success rates will likely mirror those in other arenas. Most people (almost all) will give up when they realize there is no "secret" to take place of tons of hard work (and just as in other fields they will assuage their egos with a belief that the opportunity is a scam or not worth their time); some will succeed as a result of their hard work and commitment, and a very small percentage will discover they are truly talented and will achieve great success. The difference between this process and other arenas is the fact that the payoff can be incredible! So, while I fully believe that Gary is genuine and possessing of valuable knowledge, I cannot predict performance for anyone but myself because I cannot assess the levels of determination others will express along the way. Best of luck to all!......
My buddy told me about Gary's class on CD sometime last year. He wasn't urging me to do it, but I was interested in learning and asked how he was learning. I liked what he told me about practicing for a year, homework, and following his rules precisely, because I wasn't looking for a get-rich-quick thing. (Those don't work so well for me.) So, I found this message board last summer trying to find more people's opinions on the course. I had mixed feelings from these reviews, but went back to my buddy and said, do you think it will work after all your practicing? And he said yes. Even if all I do is Widows and Orphans, it's worth it. So, I dropped the $505 to order the cds and listened to them solid. Half of it didn't make ANY sense at first. But, once I finally ponied up and got Qcharts, I started clearly to see the fat pitch setup. I have gone back to listen again after watching and practicing for a while and it is all starting to gel nicely. To anyone who is like me and is questioning, should I do this. I absolutely say yes . . . and here's why. Confession- I broke a rule and did not practice for a year. But, I decided out of the 25+ techniques to just concentrate on the OEX first. So, I practiced and then jumped in with a couple hundred bucks of real money just trading one or two contacts at a time. In my first experiences I had a profit (35%) and watched it slip away because I was waiting for a 50% profit - but still got out with a few bucks profit after fees! So, I decided to be "happy in Seattle" and form a plan. My goal was to make small trades on the OEX trying to only make a 30% return. I followed Gary's rules ALMOST precisely. My first trade last about two days and I grabbed a 50% return. My second and third trades were a matter of minutes and grabbed my targeted 30% returns (even though I could have had more - i stuck to my plan). Thus, my return for the week was 110% and 100% after fees. Granted, the market was moving so fast in one direction it was probably impossible NOT to make money on a Put play, but I very well could have lost my profits if I had not tried to be disciplined and stick to my goal. To the previous poster who says that Gary's class is verbatim out of Turner's Day Trading or Short Term Trading books . . . um, I'm not sure where you got that. I had read her books and just pulled them back out to look back over them and I don't see most of Gary's strategies and rules in those books at all. His main strategy is options and she doesn't even cover that in Short Term Trading. I plan to continue making the OEX my main focus in my trading leg. I will branch out slowly in the upcoming months. With all the talk of the market getting worse, I don't see how anyone can NOT make money on this market as long as they play it down when following Gary's rules and waiting on the indicators. (Thus why I didn't wait for a year - as his course was recorded 4 years ago before this crazy market) I live in CA and have never seen or met Gary, so I won't offer any opinions like the others. But, I will say this, I can tell a difference between Gary in teaching mode, and Gary in helping mode, from the different CDs. I think he is genuinely a guy who just wants to help folks spend more time with their families and to have some extra cash to bless others in need. I am hoping some of my friends and family will want to learn this as well. Anyone with an average competency and a willingness to put in a lot time researching and practicing can make this work with mediocre returns like my 100% for the week. (oh yeah, I made more money in my first real trade -following the rules- than the cost of the course)
Where can you purchase Gary's CD's and do you get workbooks with the course?
Hey guys, I originally took Gary's 1-5 classes in 2002 and retook them in 2004. I never took the advanced or RTP courses. To be honest, I haven't really put the work into the course that is needed, and I'm the first to admit that. I practiced for about 6 to 8 months...but keep in mind I was 19 years old when I began the course, and I'm now 25 years old. I went to college, got a full time job as a special investigator with the Air Force, and I recently switched jobs and I'm a research analyst with a classified government agency. I have a lot of time to myself now, and I'd love to be able to try practicing again and eventually do a little trading, see if I can get back into it. I kick my own ass all the time for not following through with it 6 years ago because look where I would be if i had done so. On another note, does anyone know how I would be able to get an updated manual for the 1-5 courses (my most recent is the 2005 edition). I already have a copy of the CD's (circa 2
555-555-1212), hopefully not much has changed with them. Does Gary still use QCHARTS and does anyone know if he has a new disk that he uses to set up the workspaces that he uses to make trading decisions? Hopefully someone can kinda give me an update on anything that has changed, if at all :) Thanks in advance guys! Adamaddress@removedAlan got sprayed today folks. On the head, sheoulders, neck and back! Great job Alan!!!
Geoff,
address@removedGeoff, I CAN NOT SEEM TO GET AN EMAIL THROUGH TO YOU.PLEASE EMAIL ME SO i CAN REPLY TO IT. thanks DON
Don, send me an email so we can talk.
address@removedI HAVE BEEN TO 1-5 AND RTP CLASSES.I WOULD REALLY LIKE TO HAVE SOMEONE TO CHAT WITH THAT HAS BEEN DOING THIS FOR A WHILE. THANKS
I have Dr. Schaap's new book Invest with Success and it is amazing. Life changing. Amazing - anyone else trying it? You don't spend any money after you get the book, no hype, nothing to buy, just solid learning to do the right thing to profit. Anyone else trying it?
Be advised about the Truck Lady or be sorry!!!!
Be advised about Farrah Koresh or be sorry!!!!
Anyone bashing on Gary Williams can just stick to mutual funds. Afterall, they are made for people just like you. You are at the mercy of his beliefs durring the class because GIVING IS WHAT GOT HIM WHERE HE IS TODAY. Give, and you will recieve. Have you forgotten why America is free? Does the money in your pocket at this very moment not say in quotes "IN GOD WE TRUST"?? Fools. I used to tell people about Gary's course, and how amazing it was. But after hearing the cost of 1-5, most people cried and complained like children. I dont tell anyone about it anymore, and now its no longer available live, or by CD. Only through streaming online video, and it costs TWICE what it used to AND there is a time limit. I fortunately have the CD's. I have also taken some of the advanced classes and will not hesitate to take the rest when the time comes. Although pittiful it is to bash on Gary, I also am relieved knowing that you, by not expanding your knowledge of the markets, will make my net worth rise. So I suppose Ill thank the skeptical fools! :) I hope everyone has had a profitable 2008 so far! Proud to be an American. C. AK
Be advised about Buster Brown or be sorry!!!!!
Mike - do you mind sharing some of the stocks you've used recently for W&O and your entry/exits? I'm hooked on research right now & would love to do some more. I also agree about Gary - it doesn't matter what he rants about, the point is that this stuff works. Thanks for sharing & Congrats
i took classes 1-5 in 07 advanced class in dec, to rtp every mo so far this year.i started with 45,000 doing w/o and now trade with 220,000.i,m 41 years old i now make over 20,000 per mo.trading .i am retiring july tenth 08 no more work for me.i dont worship gary willams but i am damn thankful he let me pay him to obtain his knowledge.i am not offended by his rantings ,.Of course maybe im just dull witted since i didnt get past 10 th grade.hOwever my w/o acct will be fully funded@400,000 and ill be making 40,000 a month within 3 weeks. thanks gary .ps my wife is the happiest since we met 22 yrs ago nothing beats being free of worry about money
i took classes 1-5 in 07 advanced class in dec, to rtp every mo so far this year.i started with 45,000 doing w/o and now trade with 220,000.i,m 41 years old i now make over 20,000 per mo.trading .i am retiring july tenth 08 no more work for me.i dont worship gary willams but i am damn thankful he let me pay him to obtain his knowledge.i am not offended by his rantings ,.Of course maybe im just dull witted since i didnt get past 10 th grade.hOwever my w/o acct will be fully funded@400,000 and ill be making 40,000 a month within 3 weeks. thanks gary .ps my wife is the happiest since we met 22 yrs ago nothing beats being free of worry about money
what about dr schaap..adxellence ...his 50/50 plan is kickin ass right now.. any thoughts on that??
DAN (Illinois) - If you don't mind me asking, how do you go about your W&O plays every month? I know what Gary says is his preferred place to look, but other than that, is there a method you have for finding the stock to play or do you just dig through charts until you see one setting up? I was wondering if you used any kind of "stock screeners" or something like that. I've taken the 1-5 & am currently practicing. I want to take it one thing at a time, so I'm trying to get comfortable with what Gary calls the "falling off a log" trade = W&O. Thanks for any help you can offer. Thanks also for posting - it's good to hear from someone who has actually been successful & able to retire. Congrats - todd
Also - I wonder if Buffet's system is different in that he took major interest in many companies he invested in (some were controlling interest) that allowed him to apply leadership principles (learned at Wharton, Columbia, and other experiences) to those organizations the way Jack Welch did with GE holdings. In some cases removing CEO's in companies he invested in. In other words, we may not be able to build enough capital to use his system that includes controlling interest, and even if we did - few of us are trained well enough to add leadership/intellectual capital with our financial capital.
Yes I have too much free time, I'm on vacation this week I did say the theory is unproven although objective (hard to find in the financial industry) research supports passive investing (just give me my 10% compounding interest each year and my turtle will outrun most hares) Buffet intrigues me as one of the few who has made active investing work over the long haul (with his own money) although he lives way below his means and believes gambling is a tax on the ignorant (which I think options trading is close to) What do you think of the monkey dart board scenario (not original - is taught in business school) Thanks for reading my ramblings. I will say my networth is real. It is amazing how fast you can build wealth when you get out of debt. I work with many physicians at the hospital making $250,000 to $750,000 a year that live paycheck to paycheck.
Yes I have too much free time, I'm on vacation this week I did say the theory is unproven although objective (hard to find in the financial industry) research supports passive investing (just give me my 10% compounding interest each year and my turtle will outrun most hares) Buffet intrigues me as one of the few who has made active investing work over the long haul (with his own money) although he lives way below his means and believes gambling is a tax on the ignorant (which I think options trading is close to) What do you think of the monkey dart board scenario (not original - is taught in business school) Thanks for reading my ramblings. I will say my networth is real. It is amazing how fast you can build wealth when you get out of debt. I work with many physicians at the hospital making $250,000 to $750,000 a year that live paycheck to paycheck.
lol - dude, you have too much time on your hands. I think Warren Buffet & Gary just threw up when you were talking Mutual Funds - lol!!
oh, why not? Last post in case anybody finds this interesting (and I can post without an internet problem) 1) I work at a hospital in the strategy dept so I don't have my own business or super high income 2) You all seem more intelligent than the pre-married couples I volunteer to teach so I'll share a theory I have (not proven) which I call the shell game that Mr. Williams may be playing by holding up the lucky few (truly lucky as in random) as examples to sell the program whilst berating others as 'not purists' who don't have the big returns I see this shell game played out when I get hit up by brokers selling mutual funds. They invest in all 9 domestic style boxes, criticize my 10% portfolio and show me one style box (small cap value for instance) that hit 18% the past 3 years. What they don't say is that on average, their 9 funds averaged 9% or rather 7.5% when you include the load and operating fees. And that 4-6 years prior small cap value did -25% and the research shows this rotates randomly from year to year and is absolutely unpredictable. In other words, for me to invest solely in small cap value would almost guarantee a lower return with greater risk. Williamites - do yourself a favor and spend all that time trying to outperform the market into improving your work skills or starting your own business to improve your income and read the above mentioned books along with a little company called Vanguard (no I don't work there or own stock, I don't even know if it's public)
it is very difficult to post on this blog, sorry for splitting the info and the double entry I have seen this message 20 times when posting Internal Server Error The server encountered an internal error or misconfiguration and was unable to complete your request. Please contact the server administrator,
address@removedand inform them of the time the error occurred, and anything you might have done that may have caused the error. More information about this error may be available in the server error log. Additionally, a 404 Not Found error was encountered while trying to use an ErrorDocument to handle the request. -------------------------------------------------------------------------------- Apache/1.3.41 Server at blog.worldvillage.com Port 80I skimmed the above and will say While I am conservative, I would probably disagree with a lot of Mr. Williams financial theories, political and religious views. I have made a killing in the stock market, the only way you can without insider trading or being on the inside of an IPO (google it). Modifying my behavior (Millionaire Next Door) and following budgeting principles (Financial Peace) to not be the average in-debt American (Rich Dad, Poor Dad) and invest consistently in no-load, low (0.4% total portfolio) operating expense mutual funds that cover the major 9 style boxes and international,emerging to hit 10% return on average after costs. This has allowed me at 36 with no family money (first job out of college was $8.80/hr) to have a networth (assets minus debts) of 500k.
I skimmed the above and will say: While I am conservative, I would probably disagree with a lot of Mr. Williams financial theories, political and religious views. I have made a killing in the stock market, the only way you can without insider trading or being on the inside of an IPO (google it). Modifying my behavior (Millionaire Next Door) and follow budgeting principles (Financial Peace) to not be the average in-debt American (Rich Dad, Poor Dad) and invest consistently in no-load, low (0.4% total portfolio) operating expense mutual funds that cover the major 9 style boxes and international/emerging to hit 10% return on average after costs. This has allowed me at 36 with no family money (first job out of college was $8.80/hr) to have a network (assets minus debts of 500k).
I will say this. If we took several monkeys and a dart board and put options (no pun intended) all over the dart board and had the monkeys throw darts at the board - some would average 10% return for a year (average increase in stock market if you just passively invested with normal risk), some 20%, -20%, and a very few 50% and -50%. This doesn't mean the same monkey will have repeatable performance from year to year, it just means there will be a normal distribution around the mean due to changing market dynamics potentially unknowable by said monkeys. In other words, if I took a group of the people in Mr. Williams classes and polled them after a year - I would expect to see this outcome regardless of Mr. Williams content, skill in delivering content, or class execution of content. So the question I would be looking to see is, are the monkeys in class with you averaging 10% with some beating 10% and some not - with a few 2 or 3 sigmas out making 20% to 50% with others -20 to -50% (normal variation)? Or is the class averaging above 10% (including Mr. Williams fees) and a good portion of the same monkeys hitting 20% or 50% year after year. Indicating there is something there. Are more than half the people in the class saying 'yes I beat 10% a year when I average everything' or are they saying 'I have this friend who has a friend who's making a killing and doesn't work'.
What do you people think of the monkey scenario (no jokes regarding me being the monkey)? Do you understand a normal bell curve? I found this blog last night, as my cousin is involved with Mr. Williams and his training and I wanted to understand the model as I have an MBA and teach basic finance free of charge to hundreds of people each year through a very large network of churches (no there are no religous undertones in the training at all - other than money must be managed or it can ruin relationships with friends and family). I am attaching an email I sent my cousin in the hopes it may provoke thoughts in others. I do want to go on the record and say I think SHILO is self righteous (perhaps I am to) due to severe insecurity and should get his facts straight before being so adamant (no I am not wasting my time spell checking this rant).
Gary's 1-5 came directly from "Beginners Guide to Short Term Trading" by Toni Turner. It's almost word for word. He scammed me and everyone else here.
Gary's 1-5 came directly from "Beginners Guide to Short Term Trading" by Toni Turner. It's almost word for word. He scammed me and everyone else here.
Be advised about Buster Brown or be sorry!!!!!
I am willing to bet $1000 that this so called expert system is nothing but a bunch of smoke and mirrors BS. So the bet is any of you clowns that want to use Gary "system" to beat me, we both put up $1000 in an escrow account to be paid out in one year to the winner. YOU CAN EVEN TAKE THIS BET TO YOUR BOY GARY IF YOU WANT TO. I'M NOT KIDDING ABOUT THIS BET. Any takers???
Please explain: who is Buster Brown? what is there to be sorry about? please!
Oh my gosh! Be advised about Buster Brown or be sorry!!! Please!
GODSEND???? are you joking..this guy should be reported to the SEC for what he does and charges. He does not even hold a basic series 7 lic. GOD HAS NOTHING TO DO WITH IT LADY!
I bought gary williams cds in Dec 2007...I would love to share info about some of the confusing parts.. I did not know anything about stocks, but I do know I can learn. I think the class was a Godsend. Anyone new to class or that took clss through cds and would like to have a class mate email
address@removedIf this guy was so good he would open a Hedge fund for you saps and charge 20% of the profits and make a small mint......oh wait he does not need to do that when he has a bunch of stupid investors looking for the holy grail willing to pay $800 a head....oh im sorry.... forgot he does not do it for the money. I give him credit...he has scammed the hell out or you.
Would you go to a vodoo Doctor for surgery. This guy has no training what so ever. He teaches nothing that you cant get from a $20 book on investing. HE IS MAKING A LIVING FROM CHARGING POOR SAPS LIKE YOU. WHAT A JOKE!!
Who is Buster Brown, who is Farrah Koresh? I don't understand their posts about being sorry. Please explain?
Be advised about Buster Brown or be sorry!!!!
MORE ! MORE !
MORE ! MORE !
It doesn't happen overnight people. If your not willing to do the work, it will never work for you. I live in Illinois & started going to Gary's classes in Sept. of 2001. I went to 3 1-5's, 3 advanced classes, & 2 RTP's, flying to N.C. each time and flying back the next day. I did ( and now do) the work. I learned to use discipline. And I am successful! I retired 3 yrs. ago and I know without a shadow of a doubt I am retired and trading full time for a living because of Gary's classes and applying his teachings and disciplines. Those of you that are B@#ching and moaning about it not working, can either get off your a$$ and work what he teaches or just keep doing whatever you are doing for a living now. Whichever you decide, I wish you the best. Just don't try to tell me his "stuff" doesn't work.
Farrah, Be advised about the Trucklady driving ET over to your house tonight, or be sorry! -Buster Brown
I think Ralph was mocking the prior comments. I know I've heard Gary mention ET and the Trucklady on the CDs. Farrah can you provide more info why you make these posts? Do you believe posters here are violating their Non-disclosure agreements?
Why are people constantly commenting that we should "be advised, or be sorry" ? What's going on?
Be advised about Hillary Clinton or be sorry!
Be advised about E.T. and the TruckLady or be sorry!