+ What is this?
Profits on Wall Street is a 5-session workshop, designed to teach someone how to make money with stock and/or options. From a bigger picture, it's about managing and growing your money. Unfortunately, that skill is NOT taught in school, yet is a skill that you need and will use for the rest of your life. You're already managing your wealth today; the question becomes, "how well are you doing it?"
Workshops are offered 3 times per year, split between SoCalif and NoCalif. The class meets every other week, each session is 6 to 7 hours long. Experience has shown that having two weeks between sessions allows attendees adequate time to review the materials and practice what was taught.
Attendees also receive an audio recording (aka homestudy) of the entire workshop. For those who can't make it to a live workshop, a stand-alone homestudy version is also available (details are in the Products tab)..
You can listen to the entire first session by clicking on "Listen To A Session" (think of it as a 5-hour podcast).
Best bet: Just listen to it (unless you prefer reading everything first). While listening, you get to determine if 1)What is taught makes sense to you; 2)If you like the teaching style; and 3)If the workload is something you're willing to do. Bottom-line: see if it resonates with you.
A few warnings: this will be frustrating to learn (very frustrating at times); learning this will take longer than you want it to; it will be much harder than you expect; and learning this WILL kick your butt....hard. Once you've learned "how", doing this is actually quite easy....but the learning curve is tough.
+ What is the price?
The entire workshop is $2,000, this includes a copy of an audio recording of the workshop, plus a hardocpy course manual that is about 175 pages long.
After attending the live course, if you want to re-attend, the cost is $150.
The homestudy version (audio recording plus hardcopy manual) is $700.
If you start with the homestudy and then later want to attend the live workshop, the homestudy cost is credited against the cost of the live workshop.
Go listen to the audio of the first class session (found below); that gives you the opportunity to see whether or not this is for you. Your objective during that first session should be:
To determine if you like the teaching style and approach; To determine if the instructor knows his stuff and can teach you something; To decide if you want to continue...
Unlike other trading seminars, very little time is spent talking about the potential earnings that are possible. The reason is that people are already so greedy and dreamy about money; there is no need to add more fuel to that fire. That said, if you become moderately successful at this (ie - not a superstar), following all the rules, you could make $100k to $500k per year, within about 5 -7 years. Let's be clear - that is NOT a promise. There is no way to promise what someone can earn, nor by when. Your earnings and your success depend on you, your work ethic, your ability to follow rules, and your level of disciplnie. Rather than focus on the potential dollars, most of the workshop discussion revolves around the trading rules, understanding charts, and the mental discipline that is required.
One key point to keep in mind: Regardless of what stock market course you take.... ie - you can learn what's taught in this course.... or you can learn some other method taught elsewhere....
Wherever you learn it, your results, and your success; can all be boiled down to four character traits... and you either have them, or you don't.
a) will you follow instructions?
b) do you have a good work-ethic?
c) do you have a "don't quit" attitude?
d) are you disciplined?
If the answer to any of those is "no", then it's all but guaranteed that you will fail at ANY stock market strategy that you choose to pursue.
That's very blunt; And it's harsh; however, it is reality.
Learning the stock market WILL take effort; and it WILL take time. It will be the most frustrating thing you have ever done. If you expect this to be quick and easy, please save your time & your money and do NOT take this class.
No student can ever say “I was never told how frustrating the stock market would be to learn”.
However, once you’ve learned “how”, the actual “doing it” is really quite easy.
+ What materials are provided with this workshop?
Workshop attendees (and homestudy students) receive: a printed manual that is about 175 pages, a USB drive with a recording of the entire workshop (homestudy). You'll be listening to the audio over and over as there is a lot of material covered.
+ What is the financial commitment?
- The cost of the workshop or homestudy
- You’ll need an internet connection
- You’ll need a computer
- You’ll need charting software (the one I use costs nearly $200/month)
- There is a reading list of about 20 books (click the BookList tab)
A more detailed discussion of what is required is contained in the audio recording of the first session.
One of the wonderful things about a “trading business” is that the monthly overhead is constant, regardless of how much income you are making. To make $10,000 per year, or to make $10,000 per month, or to make $10,000 per week, the monthly overhead expense is an internet connection and charting software.
This is a wonderful business!
+ Is this day-trading?
You’ll learn that semantics are critical. People have different perceptions of day-trading. “Day trading” might describe someone who does dozens of trades per day, with the objective being to capture a few cents per trade. Since our objective is a handful of trades per month, as opposed to dozens per day, then this is certainly NOT day-trading. You will learn some techniques where the holding period ranges from days to weeks. You will learn other techniques where the holding period could be as short as one to two days. You will learn other techniques where the holding period is years to decades.
Having said that, you certainly "can" apply the methods to a day-trading strategy if that's what you want to do. If you are wanting to do that, it will require that you be glued to your computer for a good portion of the day.
The objective of the workshop is not to replace one full-time job with another – – the objective is to replace the income from a full-time job. Once you get the hang of this, it does not take full-time hours to make that income.
+ But, what if I want to day-trade…
You actually can take the setups and techniques that are taught and employ them in a day-trading strategy, if that's what you want to do. However, it’s much more fun to go enjoy life. It is expected that you want to learn this in order to get away from a desk, not to remain chained to one.
+ What other offerings are available?
Click on the Products Tab
+ Why haven’t I heard of this before?
This is not advertised. Students hear about the workshop from past students; it's all by referral. You are not sitting with 1900 other people in a hotel ballroom, squinting to see the presenter. The premise is that if the workshop is good, graduates will tell others. If no one shows up, that is a strong indication that the instructor should go find a different way to help people.
The focus is always on course content, and how to make someone become a better trader and investor.
By focusing on the content, instead of focusing on getting more butts in seats, the graduates will become better students of the market. They get excited with their success and then tell others about the class. In fact, for years, there was not a website for this. It was created at the request of students because it was an easier way for them to explain the class to interested friends, family, & colleagues.
+ How is this different than any other trading seminar?
- How many times has someone said to you “You have GOT to go to this stock trading class!”
- The instructor is a self-taught trader, who was constantly asked “how can I do what you do”, so he developed a class.
- This is NOT a get-rich-quick scheme. If that’s what you want, buy a lottery ticket. This will take time to learn. Think about what you currently do for a living. It probably took you at least a few years to learn in order to be good at your current job – why should learning to trade be any different?
- The goal of the workshop is for you to be able to quit your job within 5 or so years.
- There are no salespeople pressuring you to buy other classes or software.
- It is repeatedly emphasized to expect this to be challenging to learn. Depending on your background, there may be unfamiliar vocabulary that you’ll have to learn. Like an airplane cockpit, there are a number of knobs, dials, and instruments with which you’ll need to become familiar. The biggest struggle people have is the mental disciplne that trading requires.
Price. The course fee includes a copy of an audio recording of the class. The total time in the workshop exceeds 30 hours. Other training courses can charge more than 10x what you’ll pay here.
+ What is the time commitment?
It will usually take someone about 90 minutes per day to get the “work” completed. However, like any new job, it will take a rookie a lot longer to do what a veteran can do in 90 minutes. How long does it take a rookie to become a veteran? – that depends on the person.
Beginning students typically take a few weeks to figure out how to finish the work within 90 minutes. Those who become passionate about this will find that there will be some days where they spend more than 90 minutes studying the market. They will also spend time on the weekends, studying this. If you want to learn something, anything, you are going to have to put some time in to study it.
This is a similar concept as going to the gym. You can’t expect to get a body-builder-type physique, ala Arnold Schwarzenegger, if you only go the gym on Saturdays. You need to go the gym, nearly every day…for years. In the stock market, the person who spends 2 hours every day, studying this, will not grock this twice as fast as does the person who spends 1 hour every day, studying this. However, both will grasp the material more quickly and more thoroughly than the person who spends 3-4 hours every 3rd or 4th day. You will grasp this more easily, and get less frustrated, if you consistently do a little bit, every day.
There is also a reading list of about 20 books, which you will want to squeeze into your first year of learning. The books are primarily “how-to-think” books, as opposed to “how-to-do” stock market books.
The instructor makes his living from trading. After years of observing his own trading, as well as observing others, he has learned, (and repeats it over and over in class) – “this is max, 5% “how you-do-it”…it is 95% “how-you-think”…and it requires discipline, 100% of the time.”.
Most people learn the stock market by focusing 100% of their effort on the “how-to-do”. However, that is only 5% of what is required. They never address the remaining 95%…and the result is failure.
When you’re new, the stock market vocabulary is unfamiliar and the techniques may be confusing. It is no different than when you start a new job. With time, you became more comfortable, and eventually, it becomes second nature. The stock market will be the same way.
Once you understand the vocabulary and the techniques, then you will need to recognize and conquer your emotions of greed, hope, and fear. At that point, it all becomes mental…and the mental part is the hardest part. It is one helluva challenge, yet it is an awesome journey.
+ How is progress measured?
Progress is measured individually by “you”. Only “you” will know how well “you” are doing. This could be the hardest and most frustrating thing you’ll ever learn. However, once learned, this is very easy to do. It has been said that 80% of the people who start in the trading arena will eventually quit. Why do they quit? Typically, it is due to either a poor work ethic and/or a lack of personal discipline.
+ How long does the program take?
The program will last a lifetime. If you pursue this, you can do it until you die. Once you make the commitment to yourself to do this, there are only two possible outcomes. One is success. The other is that you die before achieving success. Dying is the only acceptable excuse for not reaching success at this.
Three traits are needed to succeed at this. You must...
• Be willing to follow instructions. • Have a good work ethic. • Have a “don’t quit” attitude.
You will start with a year of paper trading where you will practice 15+ techniques. You will likely find that you’re not that good at any of them. (That’s why you paper trade!) You will see that the market acts differently at different times of the year. In the 2nd year, you will start trading with a small amount of money. That’s when you’ll discover that you have some incredible demons living inside of you; they are named greed and fear. You will be amazed (often mortified) at the chokehold that these emotions have upon you. You won’t like what you see. There is where you’ll discover how tough this is, mentally. Once you can identify and then address those greed/fear issues, that’s when you'll start to get better at this.
After observing many, many people learn this, it’s reasonable to expect it to take about 5 years to get good at this. It is NOT a race. You will go at your own pace, but you can NOT sprint; it is a marathon. It is a marathon of small steps. You will do a bit at a time, slowly letting things sink in. If it takes you longer than 5 years, so be it…if it takes you less than 5 years, there are no trophies given out. No matter how long this takes you, the reward you receive, your trophy, is freedom with your time.
Think back to college – even after 4 years of school, you did not know much when you entered the workforce. As you learn to trade, by sticking to the rules, you should be making money well before that. At five or so years into this, following all the rules, you should know the “how-to”; you should have identified and addressed your greed/fear issues; and it is at that point that you’ll realize that this is actually quite easy to do.
+ I know nothing about the stock market – can I do this?
The workshop is designed for someone with no knowledge of the stock market. The workshop starts at the basics and builds from there. Experience has shown that you can succeed at this if you possess three characteristics:
• Can follow instructions • Have a strong work-ethic • Have a don’t quit attitude
With those three characteristics, you have what it takes.
+ If my background is in finance, will this be easier to learn?
Having a finance background might actually slow one’s learning time. Stereotypically, someone brand new to the market will be in awe; they don't know anything different so they don't question the instructor and they will not question what is taught. In comparison, someone with a finance background will often question and doubt what is taught; they may get academically-stubborn, insist this is wrong and may then go try it their way. Ultimately, they will either quit or come around. Remember...it's been said that 80% of those who try trading will fail and quit.
+ Is this worth it?
There is no question that this is worth learning, but you must come to your own conclusions. Whether you learn this trading approach or whether you go elsewhere to learn some other trading approach - you are strongly urged to learn to do this.
At some point in your lifetime, you will be living off of your investments....unless you’re expecting government to take care of you. If you are going to eventually “live off your investments”, it makes sense to learn “how” to do that “now” … before you are forced to do so later. This can not be learned quickly. Spend the time now to learn, so that when that time does come, you will already know how to do it, and the transition is seamless.
+ What are the instructor’s credentials?
He does have an MBA but has never worked on Wall Street. He spent many years studying the market at night and on weekends while working at a sales job in corporate America; spent lots of dollars on books and seminars; and spent an embarassingly large amount on trial & error. The effort finally started to pay off and he eventually was able to walk away from the j-o-b in the depths of the bear market, during the dot-com implosion, to trade his own money. Over the years, enough people kept saying, “will you show me how”, so a course was developed.
If you pursue this, be prepared to be constantly told that this can not be done. You are going to hear it from friends, family, co-workers, your stockbroker, even strangers on the street! Those who tell you this are often well-intentioned and will typically fall into one of three groups…”
- The 1st group is comprised of those with negative attitudes. No matter what it is that you want to try, they’ll tell you that it can not be done.
- The 2nd group includes those who tried trading, but failed. They typically focused 100% of their effort on the “how-to” but overlooked working on their mindset, which led to their eventual demise. Remember, nobody cares about your money more than you do.
- The 3rd group includes the financial industry types who get paid to tell you how to invest your money. There is a cruel irony with this 3rd group. The cruel irony is that very few of them actually make their living by trading/investing their own money in the stock market.
However….I do…and am willing to show you how I do it.”
+ When is the next class scheduled?
Click on the Products tab to see the schedule of upcoming workshops.