Student Success Story Vicki J. (continued)...
How did you get started trading?
"I got started trading about four years ago in my 401k with not a lot of success because they had a class at work that taught us to trade in and out by certain days of the month, and other methods that were based on cycles, This method caused me to lose a lot of money, probably because I had no idea why I was using these particular days, that was just what we were told to do because that was the way their system was set up."
What did you do before trading? Are you still doing it now? To what capacity?
"In the last year my regular job announced it was closing our auto plant where I was a electrician. I can't depend on manufacturing in this country anymore so I decided I needed to invest my money, maybe even make it my business. I enrolled in some technical analysis classes, option classes, some very good and some just very expensive, but I still didn't feel confident to jump into trading real money. I was still not sure I had a good handle on choosing good stocks or options to trade.
After learning more about stocks and options and spending tens of thousands of dollars I was searching the web for all the free information that was available that would give me an edge."
What led you to Larry and Secrets of Traders? Why did you choose Larry’s program?
"I saw an ad for Secrets of Traders, I visited the site an signed up for the free information, which lead to the free Value Area download. I thought it somehow just made sense to me, easy to understand, and straight to the point. I also read Larry Levin's bio and watched the videos, and was very impressed that he is making money by trading, not by selling books- that was important to me.
A few days later I got a call and spent a few hours in the trading room and it was amazing. Fidel (Larry's head trader in the room) was talking about the market what it was doing, and how everyone should consider reacting to it. They were speaking another language though, which I know now was text messaging language, (outta touch, lol).
After doing all the research, including a BBB check because at this point I was very hesitant to try anything else, I decided that it made since for me to purchase the Expert Trader Mentorship program that SOT offered. I received lots of cool stuff, (although I would have liked a jacket like Larry's), and I get alerts to my cell phone when trades are made. "
What frustrates you the most about trading?
"The biggest challenge for me is patience, I almost go nuts waiting on that big move that always comes if you follow the rules and don't trade on emotion! I know you are suppose to take time to visualize your trading day before it starts, still working on being good at that …"
How have those weaknesses improved since trading with Larry?
"Being in the trading room is addictive, whenever I can't make it it drives me nuts, because I'm probably missing the best trade of the week!
Lately the numbers are showing that I am consistently improving...and what more could I ask for!? The most impressive method is the algo trades, they are very accurate...
I recommend you all to join us, you won't be sorry; Larry and Dan know what they are talking about. "
Click Here to enroll now in Larry's Free 'New Recruit' training program...
(from Larry's Secrets of an Electronic Futures Trader course
& customized mentorship programs)...
Dear Larry,thanks for the e-mails its great stuff,since i started in Jan. SOT's has developed brillantly in every area, ie the virtual trading room, sot tv and now important e-mail information, please keep up this good work its much appreciated, thanks.
William
Dear Larry,
Hey thanks for checking up on me today and, good talking to you ............. i'm now beginning to think with the data you provide re: " THE VALUE AREA " the value and importance of knowing support and resistance on intra day trading is crucial ......... in my humble opinion........ i've looked at all the diffrent scenarios you provide in your work book and i'm begining to get it . Today i secured 5 points before 9am , got out the index penetrated the V.A. and when it came back up i got it at 1566.50 w/ stop at 1654 50 rode it uop to 1573.00 was a very nice win for me . Larry there is a very good explenation on the '" MARKET PROFILE " on the Japanese trading tech , which you provided , and my question is if you know of other additional data, or web site or materials on MARKET PROFILE i'd greatly appreciate it , i'm fascinated by the subject ........... Thank you Larry for all your assistance and care ......... Bye for now
AG |
''Secrets of Trading Set-up Guidelines'
Hi Larry,
This information makes it much easier to understand the setups. I was totally lost untill now,but now it's much clearer. Best Regards
HB |
The following testimonials are from Larry's first course,
The Secrets of Floor Traders
Dear Larry,
I just want to tell you that your system or program really works. I am extremely happy and thanks to your program my trading and knowledge capacity about the market is different.
I strongly recommended the program and would be more than happy to receive the upgrade or new version.
Also I would like to thank Don for the patience and support in answering all my questions.
Thank you very much and I will be checking my mail for the new version.
AC |
Dear Larry,
Thank you very much for your course! Everything is simple and clear. Setups work very well! The only problem is my discipline. The biggest mistake I made is that I didn’t take every signal I should, but started to judge the system. As usual, the ugliest looking trade is the best one, so I didn’t take it. But, that is the trade which brings you the most money. Please tell every new client not to repeat my mistake because now I have to wait until I make more money to add to my account. Please let me know about any updates.
Best Regards,
EO |
Dear Larry,
I have enjoyed The Secrets Course. I hope you revise it to reflect the S&P e-mini. In my course, the e-mini is yet to be announced. It seems to be the closest thing to real trading I have come across. Sure beats trying to read charts with moving averages, stochastics, Fib., and Eliott waves. I hope there will be a revision. The 10 minute engulfment is good, but only (and I think the course says this) when they occur at the top or bottom of the trend. I know some people that trade them whenever they come up. Perhaps the trend trade could be a little better explained as to when the trend starts later in the day, say 11:00AM or so.
All in all, it is an excellent course. I would call it a thinking traders method.
PS |
Hi Larry,
Nice of you to “check in” to see how the Course might have helped my trading. While the S&P has been particularly treacherous recently, I can happily say that I have been more than holding my own.
Probably the part of the course that has been most helpful for my trading is the concept of the VALUE AREA, and how to use it in my trading. It has opened up a new understanding in the way that I can see the market unfolding.
I will be looking forward to any updating that you might do.
Thanks again,
JK |
Dear Larry,
The best part of the program was the money management and value area sections. Dan’s chat room was invaluable for learning the program. I recommend his chat room as a must for all new subscribers.
Thanks,
WW |
Dear Larry,
I am a believer of Jumping Engulfments, One Time Framing, and Opening Range and Value Area. I am not trustful of the other signals. The Pivot Points have potential to be good signals, but are erratic.
ACC |
Dear Larry,
I really do like your course. I only wish I had discovered it sooner, as I lost a lot of money (almost my entire trading account) using another system (a very aggressive style which went against my natural personality). I knew better, but I let greed (and fear) get the best of me. I personally like your course because it does fit my personality as well as my trading style. I prefer smaller risk trades, and if the trade doesn’t work to cover it immediately, and especially using trailing stops to protect profits. I also like the value area and trading with it as well as with the current trend. So many times, I would be short when the market was going up, and vice versa.
I have been paper trading using the value areas (dips and rallies) to get long and short, and confirming the trend using the one-time framing techniques. I also like your categorizing the day by 1, 2, 3 & 4 types. This especially helps on those #4 “choppy days” where you only look for small profits of 3 points.
I am planning to begin trading next week using the S&P e-mini to build my account up enough (and gain experience) to trade the big S&P eventually. I have set my daily goal to make $250/net, and will build from that. I think your course is great! I also think that with just the techniques I listed above is all anyone needs to be successful. And I do agree with you that so much is in your head, and you really do need to master your emotions, and envision yourself successful and positive; that this is so crucial to succeed.
Thank you again!
PK |
Dear Larry,
Thanks for your email.
I, indeed, read carefully that material and started trading a week ago. I lost 500USD in two days, so I stopped it and decided to study it in more detail as I am obviously missing something. I traded the e-mini S&P500 and made about 60 trades.
At least I strictly applied the stop loss and preserved my working capital, but futures trading seems to be harder than expected.
I am grateful for your follow up and I will comment on my futures results.
Kind regards,
GD |
Dear Larry,
I have many, many comments…mostly positive. A few points of constructive criticism…should have a complete review by next Tuesday.
Thanks,
MS |
Dear Larry,
In this business, there are plenty of people out there trying to sell you something, whether it be systems, seminars, indicators, courses, books, or brokers trying to get your business. Most are well intentioned and many have something useful to offer, but there is a lot of stuff out there that has very little practical value when it comes to actual trading. The Secrets course is the best thing that I have come across in terms of something that has practical applications that will actually impact your bottom line. Because of the cost, I was initially reluctant to order the course, even though it sounded very intriguing. I knew that I had paid a lot before for things that didn’t really help that much when it came to actual trading profits. Without reservation, I can say that the course was worth every penny and certainly pays for itself over time. The best thing about it is that it addresses the fact that trading is equal parts art and science. We all want the “science” part (the best methods, indicators, techniques, etc) and there are certainly plenty of nuts and bolts goodies in the course that have helped me tremendously. (One example would be the practical application of using the value area—while I knew what the market profile was, I had never figured out how to actually use it in my trading). As far as the art part of it, it seems like there is no substitute for experience, but it is so important to realize that really knowing how to trade is more important than any magic indicator you could find. In my opinion, this is the greatest thing the Secrets course has to offer. While there is no escaping the learning curve involved, your course makes it far less steep and treacherous. The Emotion Free Trading manual alone is worth its weight in gold. Another big help is the daily emails. The morning numbers are like a map of the environment you are entering every day. I can’t imagine going into the trading day without this information—it would feel like I was stumbling in the dark. The nightly review is very helpful as well because it allows you to compare what you did each day to how Dan saw things develop. The beauty of the set-ups is that they are very concrete methods, but can be adapted to your own trading style. The thing that I like best about the course is that it doesn’t pretend to be a magic bullet or the Holy Grail. Rather than a specific system or indicator, it’s about really learning how to trade. In terms of suggestions, I don’t really have any criticism or advice, although it would be nice to be able to see how the course evolves over time with the ever-changing market, if you continue to update it. Basically, great job, and thanks a million for the course material—it is the best thing I’ve found in terms of my trading education. Unlike other products, I find myself actually using what I’ve learned every day in the market.
Thanks so much for your help,
CR |
Dear Larry,
Regarding your course and telling us how the course worked for you: As I haven’t started trading properly yet, I am still studying the markets. I can say that many of the secrets in your course offer practical and easy to understand tips for trading the markets. The only problem I have is, I can spot a type #4 opening which may last 3 or 4 hours, but then the market changes to a Trend Day. If you find a way of spotting this change early it would be much appreciated. I will look forward to any updated material you may send in the future.
Thanks,
RK |
Dear Larry,
I was already an experienced futures trader. Even so, the course transformed my trading. You replaced my subjective judgments with rule sets. Many of my trading decisions were based on principles similar to those in your course. But, your objective rules are a much less stressful way to work. They have proved more profitable, too, because I am faster to adapt to changing conditions (for example, on a number 4 day). Your course will pay for itself many times over.
My one wish is for an updating of the one-time framing rules, especially for markets other than the S&P. I plan to work out for myself some rules for the 10-Year Note, for instance. I do not think you can apply the rules of the course to other markets. You can apply the principles, but not the rules.
Please do send the updated materials when it is ready. I am happy to pay for postage!
With Best Wishes,
TR |
Dear Larry,
I loved the course and it made a huge difference in the way I trade. I particularly liked the psychology part of the course.
I didn’t receive the video on ‘a day trading the S&Ps’. I don’t know if that was a mistake or if it was discontinued. Either way I think it would be a very big bonus to show you or Daniel trading the secrets methods, live, over a few days.
NR |
Dear Larry,
I found your course possibly the only course I have taken that turned out to be of real value. I have traded futures for many years successfully, but not to the level that I believe that I can achieve. Your course definitely improved my trading. I would like to learn a little bit more detail on the pivot points. I also think that some ongoing instruction would be a good thing to offer. I would be willing to pay for some person-to-person conversation on the course.
All in all, a great course.
Thanks,
SO |
Dear Larry,
Good to hear for you. The course was great.
Some possible improvements:
1) Since a lot of people are trading the e-mini, you may want to explain that stops have to be a bit looser. Also, if someone is just watching an e-mini chart then certain patterns especially the 10 minute engulfment patterns may not show up.
2) The 80% trade. I have not kept any stats, but I’m not convinced that when you see this setup that it will cross the value area 80% of the time. One thing I read just recently is that if the market is trading outside the value area and goes into it and stays in the value area for 3 minutes, then there is a high probability that it will cross 75% of the value area.
3) The value area calculation. There are 2 methods of calculating the value area, you may want to mention what these are and which one you use. Also, supply an Excel spreadsheet for calculating the value area. The data is available for download every night from the CME website. In ordering the course, I was under the impression that it was self-contained, i.e., that I wouldn’t have to subscribe to a newsletter to get the daily value area. You do reference “Mind Over Markets” which tells how it is calculated, but it would probably be too complicated for most people to program into Excel.
Thanks and take care,
SG |
Dear Larry,
It has not worked out thus far. I only have a couple of hours to trade each day and have had far more losers than winners.
C |
Dear Larry,
I have been using the lessons from your course for over a year now. I have had only limited success and know that my problem is inside my own head. However, the area that I have the most trouble, is knowing when to profit. The Stops are a given, but I have often let a winning trade turn into a loss.
If there are any additional strategies for profit taking, I would love to hear them - any indicators that would help in knowing when to hold and when to get out.
SV
|
Larry,
I am so very pleased with 'The Secrets of Floor Traders'. It was full of instantly-useful techniques to enhance profits and limit losses. In fact, I paid for the entire course 4 fold by implementing the 'Value Area' strategy the very next morning after reading about it the night before,
Thank You Very Much!
D.T. Portland Oregon |
Dear Larry,
Just a short note to say thank you. These past few weeks have been a real eye opener for me and thanks to you I'm making more money trading the S&P's than ever. I've been trading the S&P's for over 5 years and never have I had as much fun and without the stress. Using just the "One Time Framing Technique" and the "80% Rule," I have made over $5,400 in the past four weeks. Just today your 80% rule netted me $2,150. Not only am I glad I didn't return your course, now you couldn't begin to pry it from my hands. Many, many thanks for everything.
William P. San Ramon, CA |
Just wanted to say thanks for your helpful direction & insight these past few months. Since following the methods found in the Secrets manual I have had my first real week long winning streak in 6 months. That is a great feeling. The whole manual is easy to read and interpret with the corresponding charts, which makes learning the signals smooth and untroubled. After all the money and time that I've spent learning about trading, I can honestly say that the most valuable and effective methodology I have learned is The Secrets of Traders. It is not only honest and real, but it works extremely well. I also like the fact that you're not trying to sell me software or trying to be my broker like a lot of people try to do.
This analysis is so fundamental that I find it tradable in any market, not just the S&P 500 market. All one has to do is learn the signals & follow them with strict discipline and the results will be there. I like the additional book written about emotions and trading. That book alone is worth a lot to anyone not yet successful in trading. Thanks again and talk to you soon.
RJ San Antonio, TX |
Larry,
It's not brain surgery, you just follow the techniques and you can make money!
This stuff works!
Fred C. Amityville NY
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Well I guess I'll give you the long story.
For several years I used to swing trade stocks, by this I mean buying on a pull back and holding a position a couple of days. Last December I had some time off for the holidays and tried some daytrading with stocks. I figured a person could make a living doing this, but what I found frustrating was the stock selection process. The object was to find a stock that was moving, buy 1000 shares and make 1 point on it. The hardest part was finding the right stock. In September or so of 2000 the Online Traders Expo (I think that's what they call themselves) was here in Dallas. I went down to look around and remember someone talking about daytrading the S&P 500 futures. I didn't know anything about trading futures but figured it might be worthwhile looking into. I took a rather expensive course in February of this year on daytrading the S&P 500. This was a complete waste of my time and money. They claim to teach people how to trade but what it amounts is following signals from a black box, which is not what I want to do. They claim that it's not mechanical in that you need to know enough not to trade it in a choppy market. Being a system it will go through days of draw down and finally catch a trend and is profitable if you are able to tolerate 2-5 days of losses.
I decided that to learn to trade I needed to find someone that made his living trading and not giving courses. I found such a person. In the meantime in May of this year I was laid off from my job which I considered great news, I was toying with the idea of quitting and trading full time, now I had a nice severance package for some padding.
The methodology I learned to trade was trades that had a 2 point profit target with a 3 point stop. These trades are profitable 70% of the time so this method has a positive expectancy. On trending days which can usually be predicted by looking for 7 narrow range days or 20 days of 2 day narrow ranges I will take 2 points profits on part of my position move my stop and let the rest of it run.
No matter how many contracts I want to trade I always use the e-minis. I get a commission of $5.30 a round trip, I like the fills and instant confirmations, also I like the electronic order entry. I always use the chart for the full S&P to get my signals.
When I first heard of Secrets of Traders I though it was a bunch of garbage. I found that in this business someone is wanting to sell you the Holy Grail three times a week, so I take that attitude until I'm shown otherwise.
I was getting your evening email and was impressed that you were getting profitable trades with stops of less than 2 points. I knew your reference to the Value Area had to do with the Market Profile. I knew what the market profile was, but that was about it, I didn't know of anyone that used it. I ordered your course and I honestly thought that I would be returning it in a week. I believed the course arrived the afternoon of Friday September 7. On Monday the 10th, I saw that the value area held the market nicely. We couldn't trade again until this last Monday the 17th. I made money every day last week, Friday was actually was actually my worse day, the market was too choppy for me and I quit trading around lunch time.
The biggest benefit I got from your course is being able to stay with a trade for a longer run by knowing what is happening in relation to the value area. I will always grab 2 points on half of my position and move my stop to break even. Also your 80-20, engulfment, and one-time framing have given me additional ways of entering a trade.
Your recommend "The Disciplined Trader" by Mark Douglas, I just finished that last weekend and through it was one of the best books I've read.
SG Coppell, TX
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Mr. Levin,
A note of thanks for the speedy delivery of your manuals. I received the material on Wednesday, read it Wednesday evening and Thursday morning. Placed my first trade on Thursday morning. By the end of the dayI had made $1,600 following your simple guidelines.
Don S Pasadena, TX |
After reading many books and manuals on daytrading, I found your course, The Secrets of Floor Traders to be full of useful information that I have put to profitable use in my daily trading. Most manuals deal with indicators, systems, etc. Your book is the first book to really tell it like it is on the trading floor. Without an understanding of how the floor works, one is at a disadvantage! Short of standing in the pit and watching the locals, your course is the next best thing. Keep up the good work."
Paul F. Greensboro NC |
I tell you, it is so nice to know that I have the best trading information available! I don't look at trading sales pitches anymore. I just love the Secrets stuff. Thanks for all you guys do!
Nancy B, Vero Beach, FL |
I just wanted to write and thank you for your materials, I made $9,125 in just one day using only your techniques. Wow, your stuff works!!!"
Pete C. Ft. Myers FL
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Some people feel that Larry is perhaps the only truly successful trader who has ever put his methods into a formal setting, thereby allowing the buyer of his product to follow in his footsteps. His willingness to share information which is not found anywhere else, combined with his unquestionable success in the market, make him a premier source of credible information on how to trade.
Larry has personally mentored many off-the-floor traders, and is now sharing his insider trading tips and knowledge the general public. Larry's mentorship programs are highly intuitive and is ideally suited for seasoned professionals as well as the up and coming beginning trader.
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