E-MINI STOCK INDEX FUTURES DAYTRADING COURSE
FREQUENTLY ASKED QUESTIONS

Q: How long have you been teaching your Emini Daytrading Course?  How do I know I can trust you amongst all the others?
 

A: We're in our 13th year teaching stock index futures only daytrading.   Long term, we have always had a laser focus on nothing but stock index futures daytrading.  We didn't evolve from teaching stock trading, pre-tech-wreck, or anything else.  We've always been focused on one thing and one thing only: daytrading stock index futures.  We are the first and oldest stock index futures only daytrading school in the world.  Everyone else has to rise to our standards.  You'll benefit from these extensive years of experience in bull markets, bear markets, and sideways markets.

Q: Has your daytrading course adapted to a changing market over these years?

A: Yes. Over the years I've simplified it. It's based more on pattern recognition of the price action alone. However the emphasis on my utilization of extremely Simplified Elliott Wave™ has become greater. My utilization of extremely Simplified Elliott Wave™ can effortlessly give you low-risk high-probability entry setups. You'll see exactly what I'm talking about during your initial 5 days. My utilization of Elliott wave specifically for daytrading is much simpler than anything you've ever seen before. And I structured it so that even if you're wrong, it can still work. It's actually pretty exciting.

Most people try hard to become good Elliott counters and fail. The way I use Elliott, I don't worry about the count. I use the pieces of Elliott Wave analysis that help me find low-risk high-probability daytrading entries and don't worry about trying to get a perfect count, because it's not necessary.

Q: Is One-on-One the best way for me to learn?

A: The most expensive route is to try and figure it out yourself. The fastest and most inexpensive way is with a private mentor, One-on-One. Large groups and home-study-only don't work. They can't pick up on whether or not you're getting the concept, or pick up on psychological areas that might interfere with your success. These are only two of the many benefits of One-on-One training for a new career.

"From my professional experience and observation in counseling traders since 1994, I have found that traders who have mentors do better as traders for the following reasons:

• Having a mentor allows traders to seek help when it is needed, which is a vital resource and one that provides traders with a competitive edge.
• If traders are heading for trouble, a mentor can help to steer them in the right direction.
• A mentor can save a trader a great deal of time by not having to repeat the same mistakes that he made or common mistakes that most new traders make.
• A mentor not only saves a trader a great deal of money by preventing losses, he can also make a great deal of money for a trader by guiding him to the best trading decisions.
• A mentor can protect a trader's career by providing him with emotional support. Even the most technical mentoring provides emotional support because it reduces anxiety, increases confidence, and allows the trader to feel that he is not alone.
• Traders with mentors are more disciplined and good discipline is the backbone of successful trading. Good discipline comes from having a strong sense of purpose and self-worth, which are side benefits of having a mentor.
• A mentor can steer a trader to other valuable resources that might have been previously unavailable or unknown to the trader.
• A mentor can act as a safety valve for a trader who is feeling pressure and is unable or unwilling to share his feelings with his family."

Adrienne Toghraie, Trader's Coach, Traders World Magazine, Issue 37, page 26

Research from Dr. W. Edwards Deming revealed that 94% of all failures occur when a person is not following a time-proven system. The fastest, easiest path to success is One-on-One Hands-on training with a personal tutor that is teaching you a system that has been refined and simplified to the nth degree over many years.

Q: Why do you have one teacher per student? Many courses say they have One-on-One training in a group setting. What's the difference?

A: True One-on-One™ (face-to-face or online) training is the most effective way for you to learn daytrading. I can focus on you and adapt to your needs, especially psychological needs. This can't be done in a large group or by home-study. Group sessions and video training are extremely frustrating because they may go too slow or too fast for you and there's nothing you can do about it. There's just no substitute for One-on-One (face-to-face or online) daytrading mentoring. Long term, it's the most economical approach. And it's a lot cheaper than trying to figure it out yourself. Plus you get your computer set up correctly (something which is really impossible to appreciate until you watch it happening (face-to-face or yes, even online) come here and see all the setup work we do on your computer).

What you may be referring to are courses that are in a group setting with a second roving instructor going from student to student as needed for momentary One-on-One training. The problem with momentary One-on-One training is that the pace of the whole course is not focused on you and your needs, so it's not True One-on-One™ education.

"I have been using Microsoft Windows based computers for about 15 years. Among my friends and family, I am considered the expert; they usually call me when they have a problem, and I can usually help them fix it. The first day of your course raised my knowledge of computer setup and maintenance to a higher level. In addition to setting up NeoTicker correctly and providing me with 1,800 pictures of historical trades, you tuned up my Windows operating system and installed a comprehensive solution for dealing with viruses, worms, trojans, adware, spyware, cookies, temporary internet files, and hard disk management. I was impressed with the thoroughness of your setup work. After reading your article on surge protection, I bought a Zero Surge from you. I already owned an APC 1100VA Back-UPS. Obviously, this is a computer-based business, and we cannot do business if the computer goes down. My fortress is stronger than ever. You told me that some students do not understand or appreciate the importance of spending most of the first day on computer setup and maintenance. I want to tell everyone who takes this course to accept the importance of what is done on day one. Watch, listen, learn, and take notes. You need to learn how to use, maintain, and protect your computer. Over the years, I have dealt with hundreds of computer malfunctions, some minor, some catastrophic. Day one is designed to prevent most of these problems from happening. It is well worth the time and effort to accomplish this." - James Hartman

Q: Would including a family member interfere with the benefits of One-on-One training?

A: I've actually found that including a compatible relative can enhance your experience. (On the other hand, taking the training with a stranger doesn't work.)

Adding a relative is very inexpensive. Its important to have support, especially from your spouse. I offer a low price for a family member so that your spouse can appreciate what you "do" for a living. Other immediate family members can participate at this same low price too, of course. Pricing details are on the enrollment application.

Q: Do you offer home-study? I prefer not to travel.

A: My course starts with home-study. As soon as I receive your deposit, I'll send you my home-study manual so you can prepare psychologically before your initial 5 days. The 5-days of True One-on-One™ training you'll get are still necessary for your success. Home-study-only may appear on the surface to be convenient, but it's not as effective as one-on-one training for something as psychology intensive as day trading (which ends up being the main issue). Home study assumes that all students are the same, which isn't the case.

After you read your home study manual, your initial 5 days of training will be either in-person or online. If you elect online, I also remotely configure your computer. For talking I use either the phone or skype.

Additionally, most daytrading problems are psychological, not technical. You can't get psychological fine-tuning with home-study-only or group training. The 5 days is plenty of time to cover everything you need. We'll be able to help you a lot during your 5 days. It will save you a lot of frustration and money and get you going much faster. We get to know you and can thus better help you if you were to have a psychological-based problem during your year of mentoring.

Q: Is there additional training after my initial 5 days of training?

A: Yes, there sure is. After your initial 5 days, I like you to go through 3 simple steps to effortlessly internalize the material. Paper trading, which you're probably very familiar with, is step 2 of the 3 steps. The 3 steps are a real eye opener and my students rave about how well they work. They help you to effortlessly internalize everything you learned while you were here for your 5 days of One-on-One training. The Techniques Post-Course Manual is designed for this portion of the training, so you're not wondering what to do on the following Monday. You'll know exactly what to do. Of course, after your 5 days, you'll be receiving frequent emailed annotated screen shots as continuing education for a full year to help you succeed.

Q: Since this is a full year educational training course kicked off with 5-days of intensive One-on-One training, do I have to wait until the year is over to start trading with real money?

A: You start trading with real money whenever you're ready. The year of support is for you even when you're trading with real money to help you continuously hone your skills. I'll be there to mentor you the entire time.

Q: Exactly what approach do you use towards daytrading? What works and what doesn't work?

A: I teach you how to develop your own daytrading skills rather than relying on a computer. The computer is relegated to the position of an assistant. Your right brain is infinitely more powerful than any computer, so that's what you should be developing. Relying on indicators alone is an archaic approach.

An even worse approach is trying to have the computer tell you what to do (e.g., mechanical daytrading systems that attempt to give you buy and sell signals -- if that worked, you could hire a secretary to trade your system, and I seriously doubt anyone would).

You'll learn my own version of Elliott Wave, Simplified Elliott Wave™, since Elliott is one of the few things that's based on a constant: human emotions. I also use back-to-basics pattern recognition. Many of my patterns help you gauge, at a glance, the emotional content of the market.

The most important thing you'll learn is how to to minimize the inevitable losses:

• "As you know, my first rule is not to lose money. Losing an opportunity is minor in comparison, because there are always new opportunities around the corner." - Burt Dohmen's Wellington Letter, February, 1999, p. 5

My whole underlying focus is on low-risk high-probability entries. For example: If you lose $X and then risk another $X to enter the next trade and make $X on that trade, then you're only back where you started financially, but you're emotionally drained. So you can see very quickly that the key is to use low-risk high-probability entry techniques. It's imperative to be focused on not losing money rather than focused on making money. That's not a contradiction. And yes, it does make sense. We'll go over the math behind why this is true while you're here.

Q: How do you enter a daytrade and have low initial risk?

A: There are three main ways to enter the market.

1. Trading range breakout.
2. Trend following.
3. Entering immediately after a reversal into a new trend.

The first two tend to whipsaw you in today's markets. They also get you in late and thus have large entry risk (the difference between your entry point and your initial protective stop). This is what most other folks teach.

The third, entering immediately after a reversal to get you in as close to the beginning of a new trend as possible, reduces whipsaws and allows you to have an extremely tight initial protective stop. Low risk. Low stress. That's what you'll learn.

Q: I've always heard that picking tops and bottoms is risky.

A: I've heard that too. When you learn how to spot and confirm reversals shortly after they occur, you'll wonder where these guys are coming from. And consider this: when you enter right after a reversal, you're getting in on the new trend right near its beginning, so you can have a profitable position before the "experts" get on board. And if you do get stopped out, your loss will be tiny compared to the experts' losses. (And you're not counter-trend trading or scale trading...which is getting in before the reversal.)

When you make the market "prove itself," as most systems do, you're getting in late and missing a good chunk of the move. Additionally, your entry risk is much higher if you put your initial protective stop where it's supposed to go based on the chart pattern.

Q: What about mechanical daytrading systems vs. discretionary trading?

A: Mechanical daytrading systems dont work over time. Heres a partial list why...

• Most people never follow mechanical daytrading systems mechanically. They modify them as they go along. So theyre never used as mechanical daytrading systems. The worst part about this is that daytraders second-guess them. If they second-guess them based on pattern recognition, then the logical question is: why don't they simply learn pattern recognition instead, and skip the mechanical daytrading system.
• The maximum intraday drawdown on almost all mechanical daytrading systems is higher than most people will tolerate. So they quit using them or second-guess them.
• The number of consecutive losing trades in most mechanical daytrading systems is higher than most people will follow. So they quit after several consecutive losing trades and miss the next daytrade which is the winning trade. It happens all the time.
• If there really were mechanical daytrading systems that worked, the big players would have already paid a few million for them.
• All mechanical daytrading systems are based on a linear world. A simple linear math approach to predicting prices has never worked and never will. It assumes the past will be repeated in the future. Thats not reality. We live in a non-linear world, of course. And although the future may be similar to the past, its different enough that computer generated trades wont work, long term. However pattern recognition does work, long term, as a daytrader's brain is highly adaptable.
• Most mechanical daytrading systems are curve fitted regardless of the claims of the promoter. That's why they come out with new versions each year.
• Why do people program indicators and mechanical daytrading systems instead of learning chart patterns? Its Psychology 101 avoidance behavior. They are avoiding trading and developing pattern recognition skills by falling back into their comfort zoneprogramming. Programming isnt trading. Programming and daytrading are mutually exclusive activities.
• If someone buys a mechanical daytrading system and it doesnt work, this is also explained in Psychology 101. The buyer slips into the victim role. Instead of blaming himself for buying the mechanical daytrading system that doesn't work, he shifts the blame to the programmer. Searching for the mechanized holy grail daytrading system has always been an exercise in futility. So why join the sheep when you could be the shepherd.
• The Bottom Line? Trading is an art. Art forms are never mechanized.

Pattern recognition (discretionary trading) is much simpler and much more fun. You're actually using your brain, which is far more powerful than any computer. Does that mean you shouldn't use indicators? Yes, because you can see what they can see, so you don't need them. What about indices? We use one all the time for confirmation and another one for one special purpose in the afternoon. We don't use indicators because they aren't necessary and most people fall into the trap of trading indicators rather than trading the price action.

• "In my experience working with some of the world's finest traders, I have found that purely mechanical traders often have a short shelf life. On the other hand, intuitive discretionary traders can stay in the game because their trading is unique." Adrienne Toghraie, Psychological Trading Coach, Trading On Target, Issue 20, p. 2.

Q: OK, I agree, mechanical daytrading systems don't work long term. But what does work?

A: Trading is an art. It requires learning trading basics, pattern recognition, using one index three different ways, and honing your intuition based on seeing patterns. Intuition is nothing more than your instincts once you've internalized all this. Everyone in every profession naturally develops intuition. How does Michael Jordan know how to shoot the ball? He just knows. Mechanical people have difficulty accepting this until they see how easy and simple intuitive trading really is. Then they'd never go back to a mechanical daytrading system.

Since almost all mechanical system daytraders end up second guessing their mechanical daytrading system, or applying "exceptions," what they're really doing is using their pattern recognition skills and instincts. And then they see good entries that their mechanical daytrading system doesn't give them. Do they take them? Usually not. If that's the case, then why not just learn what works up front and skip the mechanical daytrading systems? In fact, most good intuitive daytraders find that the mechanical daytrading systems ultimately hold them back.

There is no shortage of mechanical systems (software) available that will give you buy and sell signals. Their claims are certainly enticing. However the profits they generate are almost always for the seller of the software, not for you. They appeal to the subconscious desire of traders to take a short cut to profitability. Our approach uses a much more powerful computer than the one sitting on your desk. Our students tell us that after learning our Simplified Elliott Wave™ pattern recognition techniques, they wonder why anyone would ever consider a mechanical software system. In summary, your brain and pattern recognition skills are far superior to computer software mechanical systems.

Once you know the basics, you'll have your own personal daytrading methodology for whatever market you want. You'll become a successful daytrader.

Good trading starts out as a left brain exercise as you learn the mechanics. Once that's internalized, the intuitive right side of your brain effortlessly takes over. All good traders are ultimately intuitive. I've found that intuition (your instincts based upon pattern recognition) is a large part of most successful traders' personal methodology. I'll teach you how to develop your intuition.

You can go into the spatial world of the right brain where everything happens at once and you get the big picture instantly (the Ah Ha reaction), or you can go into the linear world of the left brain where it divides into individual items and you have to deal with them one at a time.

As many have said, "Intuition is the ultimate indicator."

• "Although we spend most of our lives in classrooms where we learn to develop our intellectual left brains, the irony is that the most important decisions we make in our lives are ultimately related to our intuitive hunches and gut feelings, rather than logical, rational thought. Intuition is defined as the capacity to make a correct decision with insufficient rational information. Interestingly enough, our left brains may tell us the facts of a situation, but our body's intuitive wisdom always wins." -- Mona Schulz, M.D., Ph.D.

Q: Why is your fee so reasonable for such intense, personalized daytrading training, complete computer setup, your charts, and a full year of mentoring?

A: It's a fair price and we enjoy the interaction with other traders.

• "In trading, one idea, one new way of profitable trading can be worth a fortune over your lifetime." - J.W. Dicks

Q: How much more if a friend trains with me?

A: Although we prefer to teach one person at a time, if you have a compatible trader friend you want to train with you, we can accommodate both of you. See the application for special pricing details. If both of you have daytrading computers, we'll set up both of them (face-to-face or online).

Q: Can you teach me in my home?

A: Yes, pricing details are in the application.

Q: Can you teach me over a long weekend? Or a 2 day weekend and then a 3 day weekend?

A: Yes, we can adapt to most any schedule.. Call us at 770-382-9656 (Eastern Time Zone) or email us for specifics on this.

Q: Can I train for the week, then after going through the post course steps for a month or two, train either face-to-face or online for another week where we do nothing but trade together so I can fine tune my skills?

A: Yes, we offer fine tuning days. They can be either in-person or online. Pricing details are on the support page.

Q: Can I traing for the initial 5 days, then after going through the 3 post course steps for a while, get you on the phone for a couple of hours in the morning session and/or a couple of hours in the afternoon session for fine tuning purposes?

A: Yes, we offer fine tuning hours on the phone or via Skype. Pricing details are on the support page.

Q: Who should I call to schedule a week?

A: Call us at 770-382-9656 (Eastern Time Zone) or email us.

Q: What are the hours of class?

A: Monday - Thursday, 9:30 to 4 Eastern time, and on Friday from 9:30 to 2. (If you train in your instructor's home, this gives you time to catch a late Friday afternoon flight.)

Q: Where is the class taught?

A: If you train online, it's taught in the comfort of your home via the Internet. If you train in-person in one of four locations in the U.S. and Canada, call 770-382-9656 for details. If you train with me, this is my home and home office:

Q: I do pretty good in simulated trading, but when I switch to real money trading, my win/loss ratio crashes. Can you help me with this during our week together?

A: Yes. Part of the course is teaching you techniques to use to bridge from simulated trading to real money trading. This is a common problem area, as your psychology changes when you switch to real money, even if you've been hitting 90% winners on the simulator. We have several time-proven techniques to help you with bridging.

Q: Is it possible for me to conduct a modest amount of business if I train in-person? Would that be too disruptive?

A: Feel free to conduct a modest amount of business if you're training in-person in your instructor's home. With One-on-One instruction, our time is flexible. You'll have access to incoming and outgoing FAX and we can give you a phone number to use for incoming and outgoing phone calls.

Q: If I train in-person, do you have wheelchair access?

A: Please inquire if you need wheelchair access by phone at 770-382-9656 or email us. Either I or one of my instructors in the U.S. or Canada can probably accommodate you. Or, of course, we could travel to you. See the application for travel to you details.

Q: What do we do for lunch?

A: If you train in-person, we go out to eat in any local restaurant you want, depending upon what type of food you like. We typically discuss trading psychology and other trading insights over lunch. If you train online, we simply take a break for lunch.