Feedback requested on viratech TA course

[CreditViolet]

Or should I go by CV's advice & get Murphy's book?

Unfortunately jaideep even reading Murphys book is like learning ABC in kindergarten.It will make you understand what is what but will not tell you what works and what not.Nor does it mean that the seminar ppl will tell u what works infact they will try to teach u stuff so that u will have go to their next seminar.

Keep plugging away,u will get there
Best of luck

CV

 

[sh50]

I still feel the best solution would be to trade under the supervision of an experienced trader initially. That covers both the aspects- theory and practical. Even international cricketers have to go back to iron out their deficiencies. Then how can a mere seminar straightaway enable you to straightaway start trading where real money is involved. When an MBA passes out , do they straightaway put him in charge of a company. In Japan, they make them go through the grind irrespective of qualification or university. That is because there is a slip between the cup and the lip which here can prove to be dangerous. Credits observation is right- if one tries to learn swimming, in the initial phases the fear of water itself becomes a barrier. Best is to have a coach not teacher or instructor

As for people who claim to be good after attending seminars, my 10 year old son also thinks that he plays well enough to make it to the Indian cricket team . Let traderji or some thorough pro or a team of pros examine people who come out of seminars- I would really love to see how well they fare. If it were so simple, that institute in the US would not keep a special faculty for each subject, take exams and give life time free one to one computer sessions.

I dont know about Bombay but Viratechs people in Delhi have themselves admitted that they do not know much since they have no trading experience which implies that one to one guidance on the computer becomes impossible. It is actually a reflection of Equis. The two companies where I worked- all the marketing people knew the product threadbare. In one company, the production guys job was put on the line if any complaint from the customer about a salespersons ignorance because he used to train them every fortnight. In the other company, all marketing people knew the lighting software thoroughly because lighting design was provided free to customers the way Equis gives free workshops in America. I suppose we can afford to miss all that since the sharmarket is after all easy money even considering more than 90% failure.

You can look at what Traderji has written in Deewali Greetings in the Introductions section. I would add that not only psychologically even technically the novices are vulnerable and despite much superior education, there are American accounts of losing ones trading account- DEEWAALA and not li. Therefore do not dillydally in learning fully.

To end on ahumorous note, I think sex is the only subject where Seminars may prove somewhat useful for since realtime coaching is not possible.

 

[jaideep]

Really appreciate all the elaborate advice given in the above posts. Shall dig in deeper and get on with the learning part of it rightaway.

sh50 your humorous addition - not everything in this world is above ground you know, seminars included. So one will never really know about the real-time coaching bit.

 

[sh50]

To continue in the humoros vein, one can hardly achieve an orgasm at a Seminar. What to talk of a comprehending 'top". Knowledge is objective, understanding subjective- half baked knowledge can only lead to financial bottoms and more volumes are needed to breakout from that.

By coincidence, I happen to be reading " A good hard kick in the ass" on entrepreuership. The author says ideas are many but implementation or executive intelligence extremely rare and so we fund teams not ideas. I feel that in trading, coach has to be part of the team initially;if trading has very good executive intelligence, why the high failure rate? Traderji mentioned somewhere that TA was more of an art than a science or rather far from a perfect science- if that is so teaching should be as perfect as possible because in such cases(art) success pyramid is extremely steep. I can also teach Financial accounting very well in two days-I would love to see how many people start investing like a pro on the third day.

The most intelligent Technical guy I have met so far told me that despite knowing Technicals for 10 years, he felt that he barely knew 20% of the subject.Well known analyst Atul Suri of marathontrends also said more or less the same thing in the investor camp in Delhi.So much for seminars. I have just spoken out of practical experience. I would rather spend two hours with Viratech's Rahul Mohinder in a one-to-one session than two days at the seminar. I have nothing against Viratech-I am just interested in getting better value for money and better comprehension.

 

[rkapoor1978]

I would rather spend two hours with Viratech's Rahul Mohinder in a one-to-one session than two days at the seminar. I have nothing against Viratech-I am just interested in getting better value for money and better comprehension.

I guess one of your concerns was the cost of the course - i also initially felt the same but when one back calculates the fact that 2 people fly in spend 3-4 nights in a hotel, pay for the hall, lunch, tea and material adverts etc.. and of course their time, 5k is not really too much - I am sure if you ask Rahul to sit with you on a professional basis to teach you he wont charge less than a bomb - When i did the course in Mumbai both of them spent 1 hour with me the next day in the Marriot clarifing my issues - Call Rahul -he is good and helpful and will sort your issues out, it's no point spreading a bad word for others just because you are not satisifed, i know many who swear by them.

 

[jaideep]

sh50 your humorous addition - not everything in this world is above ground you know, seminars included. So one will never really know about the real-time coaching bit.

Sh50, my above response was also in a very humorous vein. Wonder if you missed my light-hearted and naughty point in it. Appears you did and instead went of your handle raving & ranting about VIRATECH once again. Cool it pal, your point in case was very well made in your earlier posts itself and I had already bought it. That's why I said I'm digging in and getting on with Amibroker & such as advised by CV.

Thanks also for the quotes & anecdotes supporting your case. You come on as a pretty clued & read-up guy and that adds on to your Versy versatlity.

 

[sh50]

I took it in the same spirit in which you said, Jaideep. CV has been telling me about Metastock has been needlessly hyped up. Other people have also prevailed that I was a fool to buy the original version. At least I should get proper service.

I dont understand this business about spreading a bad word. I have made it amply clear that I am not against Viratech but Seminars. It would not be out of place to mention here that somebody well known to me spent 3 months business to learn the ropes of Jewellery business.There is an institute of Professional accountants in Delhi which unlike Chartered accountancy(min3 years) teaches only practical stuff- that also is a four month course. NIIT takes the same time for basic programming.

My whole point was that is Technical Analysis so simple that two days suffice. An investment consultant I bumped into at a post Dewali party today called seminars as mere guidelines and grossly inadequate.

Now for the versy versatility

I may rave and rant like the social activist Khairnar
I am prepared to shout from the top of Qutub Minar
If you dont want TA to be like the moon on that eclipse -Lunar
Get a proper grounding on TA, dont depend on any Seminar.

By the way, the book Trading for a living by Alexander elder has given me more value for money than any seminar or other 5 odd books I have read so far- It is written for the layman, covers psychology and all the indicators & is better than books by TA stalwarts. Traderji also mentioned that it was one of his best.

There are many people on this forum who spoke against ICICI. I am their client but did not l complain of spoiling their name or say I swear by them ( I am their customer, not follower). They have a huge branch next to my house and I tried to speak about the grievances of this forum with their investment guy in Delhi who happened to be around. His reply was We have a huge customer base. There are bound to be more complaints
What a rationalization.

Rahul is a decent and knowledgeable person(answers queries well) but he is neither an expert on TA- not teaching or marketing. Schreder is a world leader in external lighting and they give free lighting design(some of which may take more than a day) . I have to wait for Rahul to come to Delhi to clarify certain doubts. Why can't the local staff be well trained? I think it boils down to competition; Equis has far more competition in the US- that is why they have free workshops. Why is Metastock not covered in the Seminar by the way when there are people charging for teaching that properly( Just as people pay for excel in the US). I have experience of training many people in financial accounting and not teaching them the software in today's world is like teaching trends without trendlines.

My grouse is against Equis, not Viratech. They have to set the norm.

To end on a versy(humorous note-like moving averages smoothing volatiity)

I am not trying to spoil anybodys name
They have to provide equally good service in India not rely on their US fame.
Customer service in India as it is is both a sham and a shame
If people criticize, they have themselves to blame
Real money is going to be on the line, this is not monopoly or some business game
You can take it easy if you like, I shall not always remain the same.
A dissatisfied customer is difficult to tame.

Winston Chrurchill" One does not always have to be polite. One just has to be right". The battle of bulls and bears need not be restricted to the market. If some of it extends here, it is healthy. That is what a forum is for.

 

[andy]

As a newcomer you will go through all these emotions. If you have a good newsletter and are confident trading it, then stick to it.

Once you start trading real money you will experience the same emotions if not more!

 

[sh50]

Rahul is a decent and knowledgeable person(answers queries well) but he is neither an expert on TA- not teaching or marketing.

I am sorry for a mistake here. What I meant to convey was that Rahul is an expert in TA-not necessarily in teaching or Marketing. He speaks on CNBC.

 

[kannamthanam]

papertrading and real trading

well,my dear sir, you are doing the right thing by papertrading before going live - essentially what it does is ,instil confidence in the trading system and if you keep at it long enough give you an idea of the kind of drawdowns to expect - but then once you put your money on the line and go into live trading you would realise papertrading is like facing a papertiger and the real trading is like facing a real tiger ,your training should stand you on good stead but still you would be subject to the emotional rollercoaster ride and you are more likely to attain your balance and rythm sooner with the prior training

Best regards

K Kannamthanam