My thoughts on Technitrader

Much of what I learned in the Technitrader I had learned elsewhere, but what the course did for me was tie everything together to make sense, and also showed me how to apply it properly. It provided the missing links I could not find elsewhere just by reading the books I've read. There were a few new things that I learned that were key to being successful as well.

I've been looking for others who have had experience with this course to see how they are doing. I'd recommend it - although you have to manage your expectations and not expect to much. There is great information in the course; it's pretty much as TheBucksStartHere writes - the presentation isn't flashy, but it's practical. I've had the course since the summer 2006 (July). Took me a week or two to get through it. I've been trading for several years with sporadic success here and there, and the reason I got the course was to learn how to trade sucessfully CONSISTENTLY. I can say I've done that. I've made up the money I spent on the course and now I'm working on pure profit. How much have I made? The reality is that I started with around $2000-$3000 dollars on my first couple of trades to be cautious until I was comfortable. I've averaged around 20-25% on each trade - Now after all the screening, and some orders getting filled successfully, and others not because they didn't meet the criteria for entering a trade, I've been into 2 or 3 stocks, and made over $1000. Had I put more money out on the table, I could have entered more position potentially, but also the length of time of each trade was a factor. The trades lasted about 3-4 weeks. There might have been faster trades out there, but this is the way the ones I picked played out. So for a little over $4000 invested, I made over $1000 roughly. With more practice and effort, this will increase. I did this with minimal time (running scans at night and putting in trade orders the night before the market opened just like they teach in the course) invested. So I'm happy with it. It might not be for everyone, but I'm getting what I wanted out of it, and might consider buying some of their other courses in the future. I didn't think it was necessary to watch the DVD's multiple times, but taking notes, and reviewing the concepts as you're going through the DVD's was very helpful.

Another critical piece is using Telecharts 2007 software. I don't think I could have done this without it. The reason being is that the Technitrader methodology course is dependant on at least 2 indicators that I believe are proprietary to Worden Telecharts 2007. This isn't a bad thing, because the indicators are quite good and very helpful. Since they are proprietary to Worden TT, you won't find them in other charting packages, which would make this difficult to implement if you rely on those indicators as this course does. However, you can still use much of the Technitrader information without Telecharts 2007, but results may very, and I personally wouldn't recommend it. The Telecharts subscription is about $30.00 a month, and you get more than just charting software. You get access to their forum where you can talk to other users, and the software is very powerful once you realize it's full potential. I won't use anything else.

One more thing I will say, and they mention this in the course is that when students first begin looking at charts on their own, they tend to be much more strict and find fewer trading targets at first but this is easily corrected - the chart examples they present in the course are pretty obvious when you look at them, but when you start scanning charts for your own stock picks, they sometimes don't seem to jump out as easily. What I found was I had to relax my perception somewhat, not be overly strict or rigid in looking for the buy signals in the charts, and once I had a little more practice at it, I began to find numerous trading opportunities.

So take this for what it's worth. I'd say the course did for me what was advertised. I wish the price of the course was a little less expensive, but it's their methodology and it works, so they can charge what they want. if you don't want to pay full price, try looking for someone who is willing to sell theirs on ebay, or elsewhere.

Fred