I recently subscribed to trendVUE Essentials, which I thought would be perfect for me since my "regular job" keeps me pretty busy during trading hours M-Th. I thought I could learn about swing trading throughout the week and then join Teresa's Pro group on Fridays to learn about trading futures. Unfortunately, I just read on the updated website that trendVUE Pro will be shutting down in October so T. can focus on her new hedge fund. Apparently trendVUE Essentials will remain in operation. I assume this means that the focus will shift completely to swing trading of equities and there will be no more attention given to trading index futures.Has anybody here had experiences with other real-time mentors who trade index futures and who may be worth trying? (Is anybody still here??) I noticed Linda Raschke's new site is up but, wow, her price is $350/mo. (double T. Lo's) for the daily real-time trading group.Thanks,Jason
IMHO, to pay someone for trading picks is asking for trouble - more so when it comes to trading futures. Futures can literally wipe you out in less than a day - and I don't care how big your account is.Its just that you need to do exactly what they say, when they tell ya to do it which can still lose you money when they are wrong - and if you do not have the discipline to manage your own trades, there ain't no one gonna do it for you.Now I am not critisizing any paid subscription, but, why do they charge at all? I will tell you EXACTLY why......it is because THATS where the easy money is...it sure as hell is not in trading because if it was, they would keep their system a secret and be wildy rich beyond imagination......but since they need the money, and can make more charging a fee than they can by trading, thats what they do.Anyhoo, incase you want to check out a good DT futures chat room, FREE, down load http://www.paltalk.com , look under "business and finance" and look for ~ es <CCI CLUB> nq no fee, they are always the room near or at the top of the list - always a full house.
stevieoh,Thanks for the link to the chat room; I'll check it out. I would like to point out that I basically agree with everything you said in your message. However, I am actually interested in doing more than just "paying someone for trading picks", and in my brief time as a TrendVUE subscriber, I've found that you can get a lot more out of the subscription than simply a list of picks and someone to tell you when to get in and out. I feel that I'm in a stage of my trading career where a mentor or coach could actually help teach me how to fish rather than just giving me a fish, so to speak. I've read a number of books and will continue to read more, but it seems that some things might be learned much more rapidly by watching a good mentor during market hours. It seems that it can be win-win - they get their subscription $ from you, and in return they may save you much more money than the cost of the subscription by helping you to avoid basic mistakes before you make them.I've actually made only about 2-3 trades (all intraday) in the 2-3 weeks I've been a subscriber to trendVUE. During this time, Teresa and Paul have made probably dozens of trades. What I'm trying to say is that I get a lot more from my sub. by watching them trade than by just blindly mimicking their trades. I see this subscription as a "class" that I'm taking as part of my trading education. As long as I subscribe with the attitude that I'm going to use this material to better myself as an independent trader, then I think I'll be better off for the experience.BTW, trendVUE does not claim to have some "super secret system" to beat the mkt. They use classic TA and strict money mgmt and risk mgmt principles, and they seem to be concerned with teaching subscribers how to trade for themselves. Maybe they've just suckered me with their slick marketing, but I feel I'm learning how to trade. When I no longer feel that's the case, or when I've learned all they have to offer, I'll cancel my subscription.Thanks again for the response,JasonP.S. Your following statement sums up the very reason why I believe a good trading mentor could be very helpful in futures trading:Futures can literally wipe you out in less than a day - and I don't care how big your account is.
Jason,No doubt about it, a good trading mentor can prove to be of great value and trendVUE seems like it might well be worth every penny they are charging. Its good to see that you are using them as a learning tool rather than your stock picker, although, sometimes the trades they call probably work out real well, its the times they don't work out that can *really* teach the hard lesson. http://www.trendfund.com/alert.html is another free service that I like. Its Waxie's free emails that they send you with their picks and they give some reasons sometimes for their trades which you might find helpfull. You might want to subscribe to the free emails and just see what they are doing for a month or two before you "catch on" to their method. If you decide to go with one of their paid subscription plans, last I heard it was anywhere from $300 per month to well over $600 per month - a complete and total rip off. The problem with waxie is that, his method works fairly well when the market is trending (and whose doesn't?), he is always buying when he should be selling and vise versa when we chop sideways. Best to you!
I'm posting this update because things at trendVUE have taken a turn I didn't expect when I posted the first message in this thread. For anyone who's interested, trendVUE has consolidated all its different subscriptions into one package. This package includes access to all newsletters etc., plus the real-time trading room. Teresa still discusses futures trading real-time, and Paul discusses stocks. When the hedge fund opens, T said she will probably also be discussing other vehicles she trades for the fund (commodities? currencies? I'm not sure). Anyway, the new incarnation of trendVUE is quite good and I will be keeping my membership.For the record,Jason
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