Free Trials

When you sign up for a free trial with vendor of a trading system you should not be evaluating the potential profitability of the system. For that you should request broker confirmation or broker statements from the vendor to confirm their claims of profitability over a long period of time. You can also use these statements to calculate draw down and risk.

You should use the free trial to evaluate your ability to learn from and work with the vendor. Does the vendor turn up in the trading room every day? Is he/she easy to understand? Do they provide plenty of explanation? Can you easily get into the chat room and operate the chat room software? Do you have the correct capitalization? Do you have the correct software and hardware to trade with this system? Do you have the time to trade this system? Do you have the right psychological make-up for this system?

The Free Trials provided by the trading system vendors are useful to evaluate the question above (and more).

During the free trial week the vendor may have a really bad or really good week but remember based on a random system he/she could have 26 winning weeks and 26 losing weeks each year so the profitability during that week is irrelevant. Only the long term statements will provide you with the information that you need to evaluate the profitability of the system that you are considering buying.

Based on your comments from Linda Raschke, I can list many services where one doesn't need statements before joining.

The key sentence you wrote was: "If the premium service is not a system with specific claims then you don't need statements because you are buying education from or an "audience with" a famous trader. i.e. You are not expecting to walk away with a profitable system. And, of course, Linda isn't relevant either; one doesn't need to be famous to teach.

In fairness to you, what do you mean by specific claims before I start listing. I believe these are the 2 most important words here.

The hard part for most people is they believe at the very least, they will walk away with the knowledge to trade profitably from education, especially from a so-called celebrity in the business. Otherwise, why would they pay money at all? You can learn technical analysis, Market Profile, etc. free on the Internet and/or spend a few bucks on used books if you find that is not adequate.

What do you think specific claims mean? Is English your first language?

I need clarification. No need to be sarcastic.

How can I be clearer than specific claims? And I wasn't being sarcastic. If English isn't your first language then I would try rephrasing it or translating it.

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Originally posted by day trading

How can I be clearer than specific claims? And I wasn't being sarcastic. If English isn't your first language then I would try rephrasing it or translating it.

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I'm not being sarcastic either. Is English BruceM's first language? The reason I ask is his post on this very subject. It simply shows these words mean different things to different people and since you chose those words, I thought you wouldn't mind clarifying them. Specific claims about what? teaching? trading returns?

quote:

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Originally posted by BruceM

This is HUGE... if someone is claiming that they can teach you to trade or teach you profitable methods then this comment below fits perfectly...They are making a claim.......Why wouldn't anyone want to confirm this? If I hire someone to do work on my house I verify their claims that they can do the work by calling past customers, examining their work, calling the BBB etc....why should a vendor be outside this realm..? I think you summed it up nicely.......any claim made should be able to be verified....and statements can provide that, they provide a lot of value. There is no reason that anyone should have to take a builders ( in my example) or vendors word.

quote:

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Originally posted by ahk

Okay, let me kick this off.

I submit that statements have no value whatsoever unless one wants to confirm trading claims expressly made by vendor, service, educator, guru, or whatever. They should be able to provide undisputed backup to support that.

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How would I know if BruceM speaks English as his first language?

It's okay. You don't have to answer. Reminds me of a man who once said "It depends on what your definition of is is"?

Out of all the people who have read and responded to my posts, including the ones in private nobody has questioned what language I speak. So I think Daywalker that you need to point your "eyes" upon yourself and ask

" Why am I the only one out here on the entire forum who needs to know what BruceM's first language is? Why can't I fiqure it out? Why haven't I reviewed his other posts and why have I singled out this particular post to arrive at my question regarding his languange? "

I think you need to look inward. Next time please start a new thread if you need to question somebodys language so you stay on topic. Perhaps you could have two treads like this

1)Forums members who have english as their first language

and

2)Forum members who don't have english as their first language


or perhaps you want us to include this is our profile...

You can put me down in #1 thread above to answer your question here.

Are we finished or do you need to know more personaly information about me? Oh let me give you a bit more information just so you have it..I am a trader, I am not a vendor, just in case you are keeping track of other "vital" information.

Bruce

DT.. I know you don't need my permission but please put this response or edit this post if it is needed. I just wasn't sure where to put my additional comments and since his question regarding my "language" has nothing to do with "FREE TRIALS" and was off topic I felt I had no other choice but to respond in such a manner.

Sorry BruceM,

I didn't do a good job at making my point. This isn't about you in any way shape or form and I'd rather not try to explain again what I was after.

Good posting in setups by the way.