This is My Stock Trading Journey

scam

All of the posts under the "scam" tag.

Reflections on 7 years of Trading

I started trading in July 2011.  Tradeway told me that we were in an old tired bull and the bear was right around the corner and we needed to take all our money out of mutual funds and put them in cash before the bear hit any day. So we were in a squirrel or an old tired bull or a unual market situation for years.  I am being serious for YEARS we were cautioned that the bottom would fall out at anytime. Interestingly enough in early 2016 the market had a decent drop and then fired up for what Tradeway would end up calling a bear market and then new bull market.  This bull market announcement way officially made in February of 2017 one year after the new bull started. Thankfully the market continued to go up for an additional year before this most recent retracement.  In Tradeways email from March 2017 David Mitchell wrote, “If you look at the archives of the ‘It’s a Zoo’ articles, and the Market Alerts, you will find that on March of 2009, I announced that we were in a new bull market, and in July, 2011, I announced we were about to have a bear market crash.  Wall Street never acknowledged this, but it fell over 21%.  All of these predictions were true, and actually, quite accurate.” I started trading in July 2011 so I remember this announcement where he said we were about to have a bear market crash but his March 2017 email was the first time I heard him state that it actually was a bear market crash.  From July 2011 until at least 2015 we were still waiting for that bear market crash.  Tradeway was still cautioning us that it could happen at anytime and they were not yet calling that July 2011 drop the bear. Of course hindsight is 20/20 and you can call that now but what I don’t think is completely honest is acting like you were saying that then when you weren’t back then.  I have the Market alerts and insiders to prove it.  For at least 4 more years Tradeway was waiting for that bear market that they are now saying happened in 2011.  It’s just so interesting to trade with Tradeway for coming up on a decade and see how what they say at the moment things are happening is so very very different than what they will say about those same things in the market years later. Tradeway makes things sound very obvious and black and white about past events even though at the moment they were happening they had no idea what was going on just like everyone else. I’ve attached a picture of the S&P 500 for the years I have been trading.  Everything seems so obvious in hind sight but living it is full of so many unknowns.  What about all of you?  Have any of you been trading for a while and have a bigger picture on what it is like to trade in all kinds of environments with all kinds of unknowns?

Trader June 6, 2018 3 Comments Permalink

My First NeUventure on Wall Street (now known as TRADEway) Seminar

I had no idea what to expect when my husband and I went to Seminar 1 but I thought for $100 we can’t go wrong and I would just keep my mouth shut and support my husband since he was the one who originally heard about it and wanted to go.

When we walked into the large room at the hotel we checked in and received a book to help follow along and take notes in.  We found some coffee, a muffin and a seat.  While we waited for it to start we enjoyed the Christian music playing.

The 2-day Seminar began with why we need to manage our own money, the importance of time freedom, how wealth is created and why being an entrepreneur should be sought.  We went on to learn the basics of the stock market, how it works, why it works and its lingo.  During the rest of the seminar they continued with a basic course on swing trading.

There were a lot of breaks throughout the days and a long lunch break each day, which we happened to spend in the parking lot sitting on the curb eating our peanut butter and jelly sandwiches.  Well at least until a very kind man took us to lunch the 2nd day.  You can read more about that in my people you meet along the journey post.

So about one-third was teaching, a third was breaks and the other third of the time was spent selling other products.  My husband and I began to be very turned off by this and the price tags.  Call us naïve (I know we were) but we thought we would go and learn for $100 how to make a bunch of money and that’s that.  That was not that.  We found out there was thousands more to pay to learn even more.  Oh and it wasn’t as simple as ‘here is the product and here is the price.’  It was ‘here is the product and here is the price, but wait how about we knock off a few thousand and while we’re at it let’s knock off some more and you know what, we’ll throw this in too.’  We were completely blind sided but if you decide to go you’ll be expecting it after reading this and I think that alone will make it less irritating.

We had no previous background in the stock market and they did a great job at breaking it down to a most basic level and went at a speed we could easily follow.

By the end of the two days we thought we could really do this and be good at it.  I mean they showed us how EASY it is.  Piece of cake and if we join the ‘Insiders’ they will practically do it all for us.  They’ll pick the stocks and evaluate the market as a whole for us.  This is so easy we can do this even while we work other jobs.  We can turn our $500 (and that is literally all we had) into $20,000 in a few short months! We were so excited but even in our excitement we knew we needed to not buy anything and instead take some time to pray and seek God.  That is exactly what we did.  You can find out what we did after this by reading the rest of the story on my how we got started page or read my review on Seminar 2.

It only took us about 6 months to realize that those impressions we had were not reality.  It was not easy, they don’t do it all for you, we didn’t turn our $500 into $20,000 and the only way to succeed in the stock market is to work your tail off.  Study, look through charts, learn, learn, learn and be extremely disciplined.  I wondered how we had gotten such a different impression than reality.  Did we just not understand something they were telling us?  I still don’t know but what I do know is no, NeUventure on Wall Street isn’t a scam and yes, they really do care about us and our success but could they have been a little a lot more upfront with us about the hard work and dedication it would take?  Definitely!

Before you go to Seminar 1 make sure you check out my Top 10 things to know before attending Seminar 1 post.

To hear other’s opinions of NVOWS and whether or not they are successful check out the ‘featured traders‘ tab at the top of the page.

Update: After trading for 3 years I have put together a list of a few things I wish I had known when I started trading.  I hope it can be helpful to someone else getting started.

Trader February 22, 2014 68 Comments Permalink

get_footer() ?>