Buyer Beware

Buyer Beware

I am writing this after I have learned that at least two people have taken on the role of teachers using my approach to profiling. I would not think anything of this until I learned that one of them has charged $1,000 to teach my method to a follower who later felt that this person didn’t know what they were doing. This teacher advocated adding to a losing position until it turns into a winning trade. The other teacher took the money and was never heard back from. The money was transferred without a contract or agreement and with incomplete information. PayPal is investigating this incident.

I am writing this blog post to say "buyer beware". My approach is not something I learned in a room or from a book. My approach has cost me a couple of hundred thousand dollars. It did not come cheap. There is more to it than learning LVN’s, VPOCs and what rotations are. I urge all of you who read this to go with your intuition when approached to be taught something that you know is unique like this is. I believe all of you know what seems true and what doesn’t. I urge you to simply stick around, do your homework, trade on a simulator if your account is small and put in your time.

I am working with a couple of consultants on putting together a strategy that can be used to transfer what I use and have put together for my traders as I mentor them in a way that can be useful to followers. This is taking time as my attention is divided badly after the trading day is done.

Please use common sense when paying for someone to teach you. We have all been around the block and know what makes sense and what sounds like snake-oil.

Cheers and trade well (notice I didn’t say "be profitable" LOL)

  • nummy
    Posted at 16:27h, 09 September Reply

    karma will prevail

  • The Lonely Trader
    Posted at 16:59h, 09 September Reply

    No karma in effect here Nummy. Only frauds and suckers, both of which proliferate faster than Mr. Karma can count them.

    It will always be this way.

  • rik
    Posted at 17:24h, 09 September Reply

    Amen. Very, very perceptive. Never pay for someone to teach you this type of thing, not because of the money but out of principle. Basically, this guy who is going to teach you learned on his own (supposedly) and so should you. This is a lot like the "pickup artist" instructors. There are a lot of con artists on the web who claim to be able to "teach you how to pick up any girl." and will charge you an arm and a leg to teach you. Well, at least with trading if you research enough you may be able to get some worthwhile education and/or services but there is plenty for free, once you exhaust that you will surely be a master or are not cut out for trading. All though undoubtedly being able to "pick up any girl" would definately more be of an asset than simply being able to make unlimited amounts of money. Ok lets not leave out the girls, who would pay anything to be able to "make your man learn how to pick up after himself". Hahaha.

  • svero
    Posted at 19:31h, 09 September Reply

    If you don't specify who you are accusing, then you are attacking the character of ANYONE who opens or runs a market profile room. You need to be more specific.

  • svero
    Posted at 19:44h, 09 September Reply

    If you don't specify who these 2 individuals are, then you are accusing the entire market profile education community.There are half a dozen market profile chat rooms out there.They teach strategies very similar to yours. You are now implying that any one could be one of these scam chat rooms.

    You need to at least give some vague details of where these rooms are, or where they are advertising. Or else, you are attacking the credibility of anyone who attempts to teach market profile, anywhere. That is not fair.

  • My Trading Edge
    Posted at 20:51h, 09 September Reply

    While it is a sad fact that most of what is "sold" as trading education is useless, I have to say that it is in no way realistic for someone to master all of the "free" information available. I'm not sure it's possible in one's lifetime. Secondly who wants to waste time mastering the "free" stuff which once mastered, you realize doesn't work?? Quality training is available and can save time and market tuition costs. It doesn't replace time and effort required by the student. At some point in time, everyone pays for education in some form or another.

  • FuturesTrader71
    Posted at 20:54h, 09 September Reply

    Svero: I understand your concern. However, I never mentioned that there was a room that teaches Market Profile that should not be trusted. My comments are relating to people who have approached followers either through twitter or through EliteTrader or other forms and basically represented that they are experts in the way I approach the market. My blog post is only concerning MY APPROACH to the market being taught by others. It doesn't speak to MP in general. I hope that is clear.

    Additionally, I would not want to point out the names of the individuals who created this misrepresentation without consulting with my attorney. I certainly don't know the ins and outs of what happened but I know that it sounded wrong. Hence, exposing the 2 individuals is irresponsible and may make me liable. Therefore, my approach is to try to educate readers through my blog post to be weary and to focus on educating themselves.

    I hope you see the difference.

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