This is My Stock Trading Journey

Stock Trading Training

All of the posts under the "Stock Trading Training" tag.

Big Changes for TRADEway

Almost exactly one year after Neuventure on Wall Street announced their name change to TRADEway they announced another round of big changes.  A couple weeks ago Katie Huber, David Mitchells daughter, explained these changes on a video that was sent out in an email and put on their Facebook page.  First TRADEway will be offering their second (formerly known as Flight School), third and fourth steps online.  This will also have breakout sessions and quizzes.  Second, the online study groups will use a new platform called Zoom. Third, TRADEway wants to make connecting easier by starting a TRADEway community where traders can interact and the final change is the addition of Friday coaching.

Without these changes I think TRADEway would have struggled to maintain competitive in a very competitive trading education sector.  Most trading education companies offer their content online and TRADEway was one of the very few who didn’t.  This kept them from recruiting many students outside the markets they held events in, severely limiting growth.  Even some who lived within those markets had trouble taking off work and attending a 2 day live event and then those who did often struggled to retain all that was packed into those events.  Being online will open the door for people all over the country and world to learn from TRADEway.

TRADEway students for years have been trying to find a way to connect with other students for trade ideas, encouragement, venting and to find out what is working for others and until now that has been so hard.  It’s about time TRADEway is creating a way for students to connect.  Until now I think some students were even becoming suspicious as to why it was so hard to connect especially when other trade education companies make it so easy.

And now for the big finale, Insider students can now get trade coaching 100% of the trading day instead of 80%.  Sounds like a no brainer but this has taken years and years to get and I know so many students will be happy with the change.

I am impressed with many of the long overdue changes and  I think they will insure further success for the TRADEway.

Neuventure on Wall Street becomes TRADEway

Woah!  Who saw this coming?  The David Mitchell led stock and option trading company called Neuventure on Wall Street has completely changed gears and names.  June 1st they made the big announcement that they are now registered with the SEC as an Investment Advisory Firm meaning they can now offer advice in that capacity.  They also decided a name change was in order and will now go by TRADEway.  But wait that’s not all.  They also revamped the weekly webinars for stock, options, credit and debit spreads.  From my understanding now instead of getting 10 trades that could take years to complete all 10, now you get just 9 months but 3 trades will be voted on each week even if you can’t use them because the market is ‘squirrely’ as they so love to say. (Speaking of which do you think they will still use the term ‘squirrel market’ with the new company?)

Anyway, now for a little editorial commentary.  My 2 cents in case anyone cares.  When I read the announcement email my jaw dropped as several thoughts raced through my mind.

  1. What the world?
  2. They may have just saved their company.  In fact in my opinion this change was ABSOLUTELY necessary.  Overall a large percentage of their students were not consistently successful.  The reason I know this is because in 5 years I have only met 1 successful student through events or my blog.  Not only that, I have never talked to an NVOWS student who knew someone who was consistently profitable.  Not one.  I think the word would start to get out.  The truth of the matter is I think most people were looking for NVOWS to be what the new TRADEway is.  People want help and advice from a trusted biblical perspective on all their finances not just the ‘20%’ they use for trading.  The entrepreneurial spirit needs to be revived in the US and that is what NVOWS has always strived for but now with TRADEway it seems it is more of a focus.  By becoming an Investment Advisory Firm they are expanding what they do and who they can reach exponentially.  Now it’s not just for those who want to trade or think they want to trade.  It’s basically for any believer who needs some help navigating finances from a biblical standpoint.  This was a genius much needed business move on their part and I applaud them.

Okay NVOWS I mean TRADEway students, let’s talk about this.  What are your thoughts?  Concerns?  If we can’t talk about this here, where can we?  I would love to hear from you.  I can hardly wait to see what a TRADEway seminar, I mean Step 1 or 2, is going to be like.  Has anyone gone to one yet?  I wonder what kind of up sells there will be now that they can give investment advice.  How much do you think that costs?

 

Top 10 Things to Know Before Attending NVOWS Seminar 1 (Now known as TRADEway Step 1)

It appears that many people who check out my blog do so after hearing about Neuventure on Wall Street on the radio and a quick Google search leads them to my Seminar 1 review so I thought it might be helpful to put together a quick list of 10 things to know before attending a NVOWS Seminar 1.

  1. Overall people dress pretty casually. You’ll see plenty of blue jeans.
  2. Be prepared for A LOT of selling. There is almost as much time spent listening to sales pitches as actual stock trading content.
  3. What NVOWS teaches about trading is not a big secret. It’s not some kind of special information that only they have and the rest of the world is oblivious to.  (Yikes…I was actually naïve enough to think this on some level…)
  4. Google ‘swing trading’ before you go and read up on it. That’s basically what they will teach you.  I recently stumbled across this article and think it’s worth the quick read.  It’s entitled, “Is Making Money From  Swing Trading Too Good to be True.”
  5. There are many breaks and use them wisely. By wisely I mean network, talk to people, learn everything you can from the person sitting on either side of you.  Ask them how long they’ve been trading, what mistakes they’ve made, which coach do they like to talk to, are the home study courses, webinars and Insiders worth the money, are they profitable.  You get the idea and if you find someone who has been consistently profitable, I beg you to please send them my way.  I have only met 1 and would like to increase those numbers.
  6. Take a look around, you never know which other student sitting around you might one day be your coach. Happened to me.  I met a super nice guy in the row in front of me at a seminar.  I had been trading a couple years and he had just started a couple months ago and had never actually placed a real money trade yet.  So, I was walking him through how to use TeleChart and some of the different things I had learned over the years.  Within months I called into NVOWS and he answered.  He wasn’t a coach and speaker yet but within a year he was.  You can’t make this stuff up.  So just a heads up your presenter or coach may have very little actual trading experience.  This is one reason I’ve always enjoyed learning from and listening to NVOWS speaker John Quinn.  This guy learned trading inside and out and became good at it even before being hired by NVOWS.  He knows what it’s like to flounder and struggle and scrape to learn trading and he strikes me as a bit of a genius.
  7. Try to stay calm and prayerful. A lot of big numbers will be thrown at you and you will see dollar signs and visions of all your financial dreams coming true but try to stay calm and prayerful.  There is no rush.  They will make you think there is a rush and this is the best price and deal you will ever get, but it’s probably not and you can always retake the Seminar 1 again sometime where similar deals will be offered.  Just take your time to really count the cost and decide if this is what God wants you to devote your time and energy to.  Check out my post here for questions to ask yourself when considering trading.
  8. NVOWS teaches waaaay more than just trading. They teach people how to think outside the box of 9-5.  They spur on the entrepreneurial spirit.  They teach about politics, the Bible and risk.  My husband and I are thankful for the many ways our eyes were opened.
  9. It’s not a scam. The NVOWS corporate team seem to really love people and think they are helping people.  (I’m still personally trying to figure out if they actually are helping people financially but that’s not what this post is about.)  They are just a great group of people teaching others how to trade stocks and option, etc.
  10. Please check back into the blog after you go and share your experiences and thoughts. There just isn’t a lot about NVOWS on the internet and we students need to stick together and learn from each other.

Trader April 15, 2016 5 Comments Permalink

Q&A With Trader Dana

Welcome to week two of our trader interviews.  This week we meet Dana.

Q: How long have you been trading?
A: I joined TopGun in April of '14, so a little over a year

Q: How many trades do you think you average per month or year?
A: 2-3

Q: Why did you decide to start stock trading?
A: I am retired and wanted to supplement my income

Q: Have you been to any NVOWS seminars?  If so, which ones and what were your thoughts on them?
A: I have been to all of them several times.  Seminar I is a sales seminar, not very useful for trading IMO. The others are pretty good.

Q: Is stock trading what you expected?
A: Yes. It is hard work, but can be a lot of fun too.

Q: Is there anything you know now that you wish you had known when you first started?
A: Not really. Trading is a game of experience, not book learning.

Q: Are you consistently profitable?
A: So far so good. I am better at credit spreads than Calls and Puts.

Q: Would you recommend someone join Top Gun?  Why or why not?
A: Depends on the individual. This is not a get rich quick scheme.

Q: Besides NVOWS materials what other resources (books, websites, people,etc) do you use?
A: Yahoo Finance, Bloomberg, CNBC.

Anything else you'd want to add.
I couldn't do this part time. With my personality, I need to be engaged with my trades without distraction.

 

Trader August 23, 2015 Leave A Comment Permalink

Q & A With An Actual Trader- Kevin

This is the big day!  For over a year I’ve been working on a special feature for my blog where ordinary everyday people turned traders would answer a few questions.  I hope this feature will help guide many as they decide if trading is for them and who they should learn trading from.  I also think many traders will benefit from learning how other traders are doing and what is or isn’t working for them.  Each week I will highlight one trader until I have no responses left.  If you would like to be one of my ‘ordinary everyday’ featured traders please shoot me an email.

So without further adieu…meet Kevin.  He should really be one of those people in my People You Meet Along the Journey post because he is definitely one I would not have met had I not started trading.  We met through my blog and he’s been my closest ‘trading friend’ since.  We’ve been bouncing trades, stock market theories and life off one another for years now.  Two weeks ago my family was fortunate to meet his beautiful wife and family as we passed through his neck of the woods for a wedding.  They were gracious to open their home, table and lives with us as we talked well into the night. (At least it felt that way since we all have very little ones.)  Okay okay enough with the rambling, here is a little Q & A with trader Kevin.

Q: How long have you been trading?
A: On and off for over 2 years.
Q: How many trades do you think you average per month or year?
A: When i am actively trading, I average about 5-10 trades a month.
Q: Why did you decide to start stock trading?
A: I was initially drawn in by radio ads from David Mitchel, and attended a 2 day seminar and enjoyed it a lot. But long before that, I believed (and still do) that the stock market is one of the few remaining level playing fields where anybody, regardless of background can make money with the right skills.
Q: Have you been to any NVOWS seminars?  If so, which ones and what were
your thoughts on them?
A: I’ve attended seminar I twice, and seminar II three times. I enjoyed both seminars, but they tended to run much longer than needed. I think both could have been condensed into a 1 day seminar by omitting much of the up selling on their other seminars and products. The information from seminar I lays the foundation on knowing when to be in the markets and provides a basic strategy for market timing, and seminar II teaches options buying strategies using the same chart patterns taught in seminar I. The seminar speakers are knowledgeable and entertaining, but their presentations are basically derived from slides made by David Mitchel. Sometimes the information on the slides begs a question that goes un-asked, and I found that sometimes the best bits of information gleaned from attending the seminars came from privately asking the speaker during a break rather than during the actual presentation.
Q: Is stock trading what you expected?
A: Heck no. I never expected the emotional roller coaster it would turn out to be for me. I never expected it would be so tempting to not follow basic rules.
Q: What strategy do you prefer? (i.e. spreads, stocks, options, etc)
A: I prefer buying options, long calls and puts. Spreads come in at 2nd.
Q: Is there anything you know now that you wish you had known when you
first started?
A: Can the answer be “everything”? In all seriousness, if i had to give myself advice 2 years ago, i would say to stick to the basics, all of the fancy strategies you are tempted to try out are a dead end. Timing is everything and getting the stock direction right is only half the battle. Buy options with plenty of time till expiration to give your position time to work itself out. Don’t get greedy and take profits when you still have a chance. Don’t try to shadow the trades of a day trader who makes millions unless you are actually approved to day trade in your account. (I was dumb enough to try this).
Q: Are you consistently profitable?
A:Not at all. I’m consistently unprofitable. I’ve made thousands and lost thousands, but i’ve definitely lost more than i’ve made. Every loss is a lesson, and sadly i think learning the hard way seems to be the only way i’ll learn. On the bright side, I think i’m on my way to actually learning to not do dumb things.
Q: Would you recommend someone join Top Gun?  Why or why not?
A: This is a tough question, because I want to say yes! absolutely join top gun! The information taught is good and solid and has the potential to earn you much more than you paid in tuition, but now that i’ve been around the block so to speak, I am a little hesitant to recommend. Why? Because the information is readily available for free elsewhere. The tricky part is knowing what information to seek out online. Listening to the wrong person can be very costly, which I know from experience. I am tempted to tell just a few key words you can google to find all the information you’d ever want, but maybe that’s not fair. You’ll just have to sign up for top gun. 🙂
Q: Besides NVOWS materials what other resources (books, websites, people, etc) do you use?
A: In no particular order: 1option.com has a daily market analysis that is helpful. Even more helpful is his “options strategies” and “option Q & A” sections which are a goldmine of information. I also visit https://tradinglicks.wordpress.com/ which has a unique perspective on the market. The blog author invented a market timing indicator using volume alone and i think it can be a valuable tool to see which direction the big money is pointing towards. I also sometimes i listen to the market recaps from Brian Shannon, a certified market technician at http://alphatrends.tumblr.com/. He has some enlightening blog entries as well. I’m also reading a book by Richard Wyckoff, one of the pioneers of technical analysis – the guy who coined the terms “support and resistance”. Much of his book is in harmony with NVOWS/David Mitchel, but his ideas on volume analysis are different (and better). The book is called “The Richard Wyckoff Method Of Trading and Investing in Stocks”
Anything else you’d want to add.
A: There is a reason most people lose money in the markets. It is hard! Don’t beat yourself up if you’re one of the 85% of market participants not making money. Keep at it, keep learning (from good sources teaching sound principles) and dont give up. A person who takes risks with his/her money is wiser than the person who sits on it, even if the risk does not end with reward. Money will come and go, but the experience and knowledge gained from participating in the stock market cannot be replaced. Many people after years of hard work and determination finally have their light bulb moment and began consistently making money, but prior risk and failure is almost surely a part of that path for most.

 

Trader August 13, 2015 Leave A Comment Permalink

How Much Did I Pay?

One question I am often asked is, how much does Neuventure on Wall Street cost? That question has a complicated answer that I can only answer from personal experience stating how much I spent and how much I have heard them offer their seminars, cruises, Practice in Paradise, home study courses, webinars, etc for. These prices often change. In fact if you’re at one of their seminars you’ll see them pull out a current price sheet that changes from time to time. Prices vary based on whether one pays cash or sets up a payment plan. There is also a discount on everything if one is an Insider. So let’s dive in.

One can buy each seminar separately or choose to buy Seminar 1 and 2 together which they call “Flight School.” This cost my husband and me $6400 cash. It would have been more had we not paid cash. They also have “Top Gun” which includes all their Seminars 1-4 and sometimes a bonus Entity Seminar. The sticker price is $41k but with ‘discounts’ it’s usually between 12k-14k. Remember these are just general figures. You would need to talk to NVOWS to get exact numbers. “Top Gun” usually includes some extra perks like a few months of free webinars or “Insiders” etc. You can become an “Insider” for $49.95 per month. This includes Market Alert emails that are sent out most trading days with updates on what is moving the market. They also periodically post stocks to a stock calendar that they think might be nearing good buy points. There is an Insider section on their site that has tutorials, a list of best and worst performing industry groups, a list of the most fundamentally sound stocks and a weekly article written by David Mitchell that gives an overview of the past week of trading and news ie market tone. For those who use the NVOWS recommended Telechart stock charting software Insiders also Includes David Mitchell’s current settings that are available to download.

Then there are lots and lots of up sells beyond the seminars themselves. Home study courses at the time of this writing have a sticker price of $850 each. You read that right. But at the Seminars there is usually some sort of deal offered on them like 2 for 1 for example. According to NVOWS website 6 types of webinars are offered. We have been on the coaching webinar since we started a few years ago and it’s around $20 a month and lasts 55 minutes on Monday evenings. The other webinars offered are more specialized and more expensive. The options webinar for example has a sticker price of around 9k. Then there are trips/cruises where certain strategies are taught. The sticker prices of these range from around 17k-25k. As you can see there is plenty of money you can spend to get the full picture of what they offer and they seem very careful, almost secretive about not letting out any information that they offer for these high prices.

Let me be completely honest here. Over the past 3 years of trading with NVOWS training I have come to believe that if you can afford all the seminars, webinars, home study courses, trips, coaching, etc, you will have a very solid foundation of knowledge to trade the markets. If you can’t however afford all they have to offer there will be gaps in your knowledge and you will need to seek it out on your own. They seem very good at holding back just enough knowledge so that you will have to buy the ‘next thing’ to improve your trading. It’s a business. One thing you can do is shop around. There are many companies that teach people how to trade and this may be one of the more expensive I’ve run into so it’s important to look into your options and make an educated, God guided decision before investing.

Trader November 23, 2014 7 Comments Permalink

Pre-Trading Couseling-What I Wish I Had Known When I First Started Trading

Before I got married my husband and I sat through weeks of pre-marital counseling with our Pastor and weeks more in a class setting. We learned so much and it helped get our marriage off to a great start.  As I celebrate my 3 year trading anniversary and think back to when I started perhaps that would have been helpful before I started trading. You know, Pre-Trading Counseling. Someone to sit down with me 1 on 1 and say,

“This isn’t always going to be easy.”

“This is going to take a lot of hard work.”

“This will stretch you and make you uncomfortable at times.”

“This will make you grow and refine you.”

“There will be times when you will second guess yourself and wonder if you have what it takes.”

Well I’ve put together just 4 of the things I wish someone had told me when I started trading and perhaps they can be helpful to someone else who is starting out particularly if trading with Neuventure on Wall Street.

  1. 300% returns are not the norm. Yes, that is what is used in the seminar examples giving me dollar signs in my eyes and thinking I’m going to always get the perfect buy and sell point. Doesn’t work that way. 300% returns come along but they are NOT the norm.
  2. It’s okay to get trading information from a variety of sources besides just NVOWS. At fist I was told I would just get more confused if I learned trading from anyone/anywhere else. This closed me off for maybe over a year of learning from outside sources and to be honest I just didn’t get enough information from only NVOWS to make me a great trader because I couldn’t afford all their programs that make up a well-rounded trader. I mean, I didn’t even learn historic horizontal lines from them and we all know those are a really big deal. It’s simply okay and even important to take advantage of some of the great information available through books, websites (here are some of my go to websites)  and other traders.
  3. Being an NVOWS “Insider” is not an excuse to casually look at the market and not do much while waiting for Market Alerts and Stock Calendar updates. For more time than I would like to admit I was extremely passive and would hardly glance at the markets until I got a Market Alert telling me it’s time to trade and here are some stocks to look at. Well by the time I looked into all of them they were past good buy points and I had missed the move…again. This is such an important lesson to learn early on. You must do the work yourself. Look through charts everyday. Set price alerts on stocks nearing good buy points. Check earnings. Be ready with stocks so when the market lines up you are ready to pull the trigger quickly.
  4. And the number 1 thing I wish I had known when I started is that trading is a ton of work.  I got the impression at my first seminars that trading was simple, anyone could do it and I could easily make a bunch of money. NOT THE CASE! It is hard work and involves sacrifice.  Sacrifice of free time is the main one. Instead of reading a nice recreational feel good novel or watching TV, evenings after the kids go to bed are spent pouring through charts, past trades and continuing to learn how to become a better trader.

Had I known some of these tidbits I could have probably learned more quickly and saved myself some disappointment. Other tools you can use are my questions to ask yourself when considering trading and my top 10 things to know before attending Seminar 1.  I know my pre marital counseling helped me learn some realistic expectations of marriage, my spouse and the effort it would take to have a wonderful marriage. So there was my attempt at a little Pre-Trading Counseling.

How ‘bout you?

What do you know now that you didn’t know then? Or what would you tell someone at Pre-Trading Counseling?

Trader August 15, 2014 19 Comments Permalink

Neuventure on Wall Street (now known as TRADEway) Seminar 2 Review

In the past 3 years I have attended NVOWS Seminar 2 on options 3 times with 3 different instructors. My first was David Mitchell, the second was Chris Johanson and the third was a couple of weeks ago with John Quinn so obviously that one will be the freshest on my mind.

Naturally seminar 2 starts with a review of Seminar 1, once again going over rolling stocks and learning a little more about trending stocks. We then covered some of the most common patterns and bases. Then it was time to dive into options, starting with basic definitions and just the buying of puts and calls. I later learned on my own you can also sell (to open) puts and calls. I’ll admit my first Seminar 2 was a bit overwhelming as I tried to memorize and grab onto every last piece of option information taught. I felt as though if I didn’t grasp even one small piece that it would all fall down around me and I’d never grasp options. This isn’t the case. Even though there are still some concepts to this day within options that make my head spin I was able to learn a simple way to buy puts and calls. So simple I might add that I was a little surprised to pay $6400 to learn something that simple. But, having never stock traded before and being so new (at the time) to stock trading I had no idea that all this information was out there for the taking and even if I had, I don’t know where I would have even begun to look. Now that I’ve been trading for a few years though I would at this point feel a lot more comfortable navigating the stock/option trading information overload to find the bits of information needed to use such a simple strategy in my trading.

And what NVOWS seminar would be complete without the many long, relationship building breaks built-in as well as a good dose of selling. At this one I once again had the opportunity to buy the approximately 15k Hawaiian 3 day Practice in Paradise and the 10 Trade Options Webinar for about $2,500. Then there’s the $11,000 cruise I can take to learn new gap and news plays. Of course there is a whole new set of home study courses I could also buy on candlesticks, gaps and stock splits. One thing I would like to note here is that a thorough and complete stock trading training program will need to cover things like candlesticks, gaps, bases, indicators, etc. With NVOWS these things are only covered on the most BASIC level at their seminars if they are covered at all so if you want a more holistic view of trading you must buy these Home Study Courses or study up on them on your own or choose a stock trading training program that includes these in the upfront cost.

All 3 of my instructors were excellent and I learned some different tidbits from each of them. In addition to options this seminar also teaches the David Mitchell Advanced Stop Out Rule. The Seminar wraps up with looking through some real-time charts for great patterns and buy points and learning how to actually go into Eoption, (the brokerage NVOWS uses) pick out the correct option from the option chain and place a trade.  I was comfortable buying calls and puts after taking the seminar just once but my husband appreciated attending the Seminar 2 again. Everyone is different and learns differently.

There are definite advantages and disadvantages to choosing a stock training program that is live. One huge advantage is getting to meet so many like-minded people and learn from them and be encouraged. Another advantage is it forces you to take some time out of your life to learn this new skill on a particular date and time. The drawbacks however include not being able to review the seminars at home as a refresher especially if you need more than just 2 days to understand the concept. You may have to wait months until another one comes to your area as opposed to other stock training courses that are all online and can be watched and rewatched on demand. Everyone has to decide what will work best for them.

 

How ‘bout you? What were your thoughts on NVOWS Seminar 2?

 

 

Trader August 4, 2014 14 Comments Permalink

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