Is anyone actually teaching how to daytrade?

Hi,

Is anyone actually teaching how to daytrade? I don't mean supposedly teaching how to daytrade, and I don't mean ripping off trader wannabes.

I mean taking an advanced student, such as me, and teaching him how to make money as a daytrader. (I've done over 1500 real-money S&P futures daytrades, and I can read charts and describe market anatomy.)

Is there anyone out there doing this?

Thanks in advance,

- Boyd

Boyd -

> I mean taking an advanced student, such as
> me, and teaching him how to make money as a
> daytrader. (I've done over 1500 real-money
> S&P futures daytrades, and I can read charts
> and describe market anatomy.)

> Is there anyone out there doing this?

Ummm, Boyd. I don't know the answer to the question but I know there are a *lot* of people who want to daytrade. Based on your numbers, it looks to me like *you* could create infoproducts on the topic.

JAT,

Rick Smith, "The Net Guerrilla"


Click Here to Get Your Free Course on Getting a Great Life in 10 Days

Hi,

Thank you for the implied compliment. I'm the co-author of the audiocassette course "Trading Order Power Strategies" (which is about how to place trading orders so as to, hopefully, get a good fill). I can place a trading order with the best of them, but as far as making money as a trader, well... that's a skill I have yet to master.

Did you see the movie "Swordfish?" If so do you remember the cool computer setup that John Travolta provided Hugh Jackman so he could create a worm to help in a bank robbery? My fantasy is having all those screens in front of me, each one showing the live ticks of different markets, overlayed with my custom technical indicators (I like a 15-bar and a 40-bar SMAC along with 20-bar +2, -2 Bollinger Bands), and I'm watching for setups and doing dozens of 3 minute trades every day. Actually all I'd do is spot the setups and, Captain Piccard-like, order my staff to "Make it so" or whatever (only I have more hair and less of a deep voice), and the staff handles the trade entry, exit, and book-keeping.

That's my dream, and I'm the type person that can't live without pursuing a dream.

Best,

- Boyd

> Boyd -

> Ummm, Boyd. I don't know the answer to the
> question but I know there are a *lot* of
> people who want to daytrade. Based on your
> numbers, it looks to me like *you* could
> create infoproducts on the topic.

> JAT,

> Rick Smith, "The Net Guerrilla"

Hi Boyd,

Just saw your post below, but decided to respond up here. Trading the e-mini S&P's seems to be the *primo* choice of many daytraders right now.

I was asking around awhile back about personal instruction and I was referred to this site for consideration: http://www.daytradingcourse.com

The guy will do 5 days of one-on-one training with you and will continue your education via phone, email, etc. after you leave. This might be what you are looking for. Of course, do your own due diligence, but it might be worth checking out.

He does put a lot of emphasis on Elliott Wave for high-probability entry setups...only uses the parts of Elliott that help make money and doesn't worry about a perfect count. Says it is much simpler than anything you've ever seen before.

Just throwing this out for your consideration...you decide. :-)

Whatever you choose to trade, with your expert charting skills and history of trading, you'll do well.
~ Amber

> Hi,

> Is anyone actually teaching how to daytrade?
> I don't mean supposedly teaching how to
> daytrade, and I don't mean ripping off
> trader wannabes.

> I mean taking an advanced student, such as
> me, and teaching him how to make money as a
> daytrader. (I've done over 1500 real-money
> S&P futures daytrades, and I can read charts
> and describe market anatomy.)

> Is there anyone out there doing this?

> Thanks in advance,

> - Boyd

Hi Boyd,

I'm sure there must be ways you can profit by teaching your day-trading knowhow, if you wanted to.... (I know this isn't what you were asking, but nevertheless....)

Of course, there's the info-products approach - reports, tapes, a newsletter, that kind of thing....

There's also teaching - either a class, or one-on-one tutoring would be profitable too. My impression is that there's a lot of interest in technical analysis at the moment, which is essentially what your expertise is in, right?

Stock market investing techniques can sell for a high price. As I understand it, as long as you don't actually recommend which stocks to buy or sell - you just teach the technique - then you wouldn't need a financial advisors' license or anything like that (but I am NOT a lawyer, so don't take this as legal advice!).

I'm quite sure many people would pay a lot for private lessons in technical analysis.... You could make even more by selling (at retail) good technical analysis software to your customers too.

Another possibility is a seminar (but you'd have to be comfortable in front of audiences)....

Email or web-based classes are becoming more and more popular, and that's another possibility too.

There seem to be a lot of possibilities for you to teach your know-how to others, if you chose to....

- Dien Rice

Hi,

Before I forget, I joined Bill Myers's member's site today and I really like it.

You wrote:
> There's also teaching - either a class, or
> one-on-one tutoring would be profitable too.
> My impression is that there's a lot of
> interest in technical analysis at the
> moment, which is essentially what your
> expertise is in, right?

Thanks for the excellent ideas!

Attached you'll see a screen-cap of September 21, 1995. The bars are 5-minute bars of the SP 500 futures, which was in the 500s at the time. Volatility was extremely low by today's standards. Also shown are two moving averages and a Bollinger Bands.

Looking at this picture we didn't do a very good job of trading. Early in the day we imagined two trades that weren't really there (we were trading congestion like it was a trend) and when it did start moving we couldn't figure out how to get in for a long time. When it started moving up we did a good buy. Then we did a trade way too late in the day. All these mistakes probably help explain why I didn't make money as a trader. (OTOH, it's harder than it may look.)

I was daytrading with an Austin trader at the time. After every day's trading I'd take all the trade forms and enter about 30 fields of data per trade into an Access database. I even took screen shots of our TradeStation screen, and mark them up with our trade entries, as you can see below. Then I'd add the screen capture to the database. This database only covered part of my career as a trader, and yet at the end it held the records of 756 daytrades. To this day I've never posed questions to this database looking for winning combinations of signals and technical indicators. For all I know the much-sought-after Holy Grail of trading lies hidden in my database. (I don't know why I never sifted through this database--maybe I should....) :-)

So a day of daytrading consists of sitting in front of a screen that looks sort of like the picture below, watching as the bars form and waiting for a setup to form. Then grabbing the phone and taking decisive action! Daytrading must use the same skills as our hunter ancestors employed who spent hours in a tree, waiting for a pig to wander below so they could spring on it.

Anyway, I really really want to get back into the daytrading business, and I'm sure I will somehow.

Hope this was useful or interesting!

Best,

- Boyd

dno
> Hi,

> Is anyone actually teaching how to daytrade?
> I don't mean supposedly teaching how to
> daytrade, and I don't mean ripping off
> trader wannabes.

> I mean taking an advanced student, such as
> me, and teaching him how to make money as a
> daytrader. (I've done over 1500 real-money
> S&P futures daytrades, and I can read charts
> and describe market anatomy.)

> Is there anyone out there doing this?

> Thanks in advance,

> - Boyd

> Hi,

> Before I forget, I joined Bill Myers's
> member's site today and I really like it.

> You wrote:

> Thanks for the excellent ideas!

> Attached you'll see a screen-cap of
> September 21, 1995. The bars are 5-minute
> bars of the SP 500 futures, which was in the
> 500s at the time. Volatility was extremely
> low by today's standards. Also shown are two
> moving averages and a Bollinger Bands.

> Looking at this picture we didn't do a very
> good job of trading. Early in the day we
> imagined two trades that weren't really
> there (we were trading congestion like it
> was a trend) and when it did start moving we
> couldn't figure out how to get in for a long
> time. When it started moving up we did a
> good buy. Then we did a trade way too late
> in the day. All these mistakes probably help
> explain why I didn't make money as a trader.
> (OTOH, it's harder than it may look.)

> I was daytrading with an Austin trader at
> the time. After every day's trading I'd take
> all the trade forms and enter about 30
> fields of data per trade into an Access
> database. I even took screen shots of our
> TradeStation screen, and mark them up with
> our trade entries, as you can see below.
> Then I'd add the screen capture to the
> database. This database only covered part of
> my career as a trader, and yet at the end it
> held the records of 756 daytrades. To this
> day I've never posed questions to this
> database looking for winning combinations of
> signals and technical indicators. For all I
> know the much-sought-after Holy Grail of
> trading lies hidden in my database. (I don't
> know why I never sifted through this
> database--maybe I should....) :-)

> So a day of daytrading consists of sitting
> in front of a screen that looks sort of like
> the picture below, watching as the bars form
> and waiting for a setup to form. Then
> grabbing the phone and taking decisive
> action! Daytrading must use the same skills
> as our hunter ancestors employed who spent
> hours in a tree, waiting for a pig to wander
> below so they could spring on it.

> Anyway, I really really want to get back
> into the daytrading business, and I'm sure I
> will somehow.

> Hope this was useful or interesting!

> Best,

> - Boyd

Boyd,

I have some questions about what other data you recorded for that day. Could you email me? I would like to know if you also have a chart for the NYSE TICKS for that day. Did you record the PREMIUM on the open? Was it + or - ?
Thanks.

> Hi,

> Is anyone actually teaching how to daytrade?
> I don't mean supposedly teaching how to
> daytrade, and I don't mean ripping off
> trader wannabes.

> I mean taking an advanced student, such as
> me, and teaching him how to make money as a
> daytrader.

Hi Boyd,

Here are a couple of sites for you to check out:

http://www.lazydaytrader.com

http://www.onlinetradingsuccess.com
http://www.superiorinformation.com

These last two sites are owned by Jack Carter.

I've met Jack (and do some programming work for him occassionally) and can vouch for his expertise and character.

Best,

Paul