BT Mentor: Bob Eldridge

[Arnold Kameda]

This  is another  follow-up to Herb Taylor's comment that he and some other new traders require a lot of hand holding. There is one BT mentor named Bob Eldridge who may fit the bill for you. If you recently signed up for BT, you should have some available slots for mentorship sessions that was packaged into signing up for the BT workshop.

You can use your mentorship sessions to check out the various BT mentors. Bob Eldridge is one of them. When you check out these mentorship sessions, they are all trying to get you to sign up with their programs (which cost $$$). However, Bob Eldridge has perhaps the most reasonbly priced programs. He holds a daily hands-oon Lab, where he steps you through how he does his trades. He is extremely patient and takes it nice and slow (a bit too slow for me, but it's really good for new traders). I recommend Bob because his Lab is the real deal, where he shows you how to make trades. He also documents every one of his trades and has over a 85% success rate (which is great)!  I had explained to you some of the strategies he uses in an earlier discussion.

Bob Eldridge's Trading Lab 1 800 743-0360
Cost: $1,295
Length: 3 months
Times: choice of daily lab (opeing bell to about one hour) or
              Tue/Thr evenings (afternoon Hawaii time) for 2 hours each

I haven't signed up for his session yet but I'm thinking of doing it. I like his non-directional straddle/strangle trades and I want to learn how to perfect them. I've sat in on about 10 of his sessions but since I ran out of mentor sessions, I haven't revisted them in long awhile.

If you want a lot of day to day hand-holding, this is the only Better Trades mentor, that I know who does it.  And he's got a terrific trading record. He may be an "old man" and not as young and glamorous as Markay Latimer, but he is earnest in his efforts to help traders succeed without charging an arm and a leg for sharing his knowledge and techniques.

Arn

 

On Thu, Mar 19, 2009 at 7:29 PM, Herb Taylor <herbt...@aaahawk.com> wrote:

Hey Anold,

Haven't done anything since the two day session with BT finished.  Market went down and the market went up but all I do is watch the action.  I have never been a trader and it's looking as if I never will be one.  Now, I suspect there are a few more of us out there, and they likely also took the BT course, but they need a lot of hand holding, and there just ain't anyone out there who wants to get into that kind of thing.  I'd like to put a couple of trades together but the training we got requires that we use the BT system and not many of us have their programs - so we don't do much of anything.  I for one will invest in some movers that I've found as a result of the BT operation and will likely recover the fee I paid for the training that I did get, but no way three times that  - and with options at that.

Keep the good words comming though and perhapse some day some of us will come around.

Herb

 

From: Arnold Kameda
Sent: Mar 19, 2009 1:56 PM
To: ohana-...@googlegroups.com
Subject: US Dollar Down

Hey All,

You all have been so quiet lately so hopefully you are so busy either paper-trading or making real trades that you've been too busy to write. Anyway, as part of being a good trader, one must keep abreast of big global financial news. Here is an excerpt from one of the newsletters I subscribe to:

Virtually all of the coverage of the Federal Reserve's stunning decision to buy up to $1.2 trillion in Treasury bonds and agency debt on Wednesday centered on its effect on long-term yields and the economy. But possibly the most critical effect of the move was virtually unmentioned: a gigantic 3% drop in the value of the U.S. dollar against other currencies.

The dollar took a huge drop in value the past few days. The negative drop in the dollar has had a positive effect on gold stocks and commodities. So if you think this trend will continue, then you can make purchases of such types of securities (or their options). There is also a fund called the 2.5X Dollar Bear Fund, that moves opposite the dollar called the DXDDX fund that trades just like a stock. It's been trending steeply upwards these past few trading days.

As an informal trading group, I encourage you all to get in the game of trading and prepare yourselves to be ready to do some real trading based upon a trading plan (fundamental reason for making the trade, technical confirmation of the trade, defined entry/exit/ and stop losses). With the rapid changes in our economy, we are going to see some huge trading opportunities come our way and the better prepared we are then the better we can capitalize upon them.

Keep up the conversations!
Arnold

--
I am a "Pro-Active Investor". I personally and actively steward the financial assets provided to me by our Father and do not wish to rely on professional money managers or the government to support me in my twilight years.

Preserve our Earth and its resources; it is the only planet that we and our children and future generations can live on.

Arnold K. Kameda

[Arnold Kameda]

I forgot to mention about what tools Bob Eldridge uses to run his Lab sessions:

Extreme Charts (although not required)
Real Time Markets (also not required).

He does NOT use Dedicated Trader at all.

The Extreme Charts is good to have for his lab, but not required. He will use it a lot to chart out certain trades and also to find what trades to select using Extreme Chart's filtering tools. However, it's not absolutely required.

He executes all of his trades using Real Time Markets (RTM). If you don't have RTM, it's going to be harder to follow what he's doing, but one can use another trading platform to execute the trades. Athough I had RTM, I actually executed all of my trades (for his lab) using eTrade. None of his trades are  complex. The hardest thing you have to learn is how to execute conditional trades, which isn't hard to learn.

Hope this helps some of you.

Arnold

[Donald Garwood]

Thank you, Arnold.

Is Albert Clark is still amonst us?

"Slick"

[Arnold Kameda]

Albert Clark? Oh, you mean AC or Al? Well, he is still a group member but must be either on a trip or tied up with something important. Haven't heard from him in awhile.  Did you start trading real trades yet?

Thanks,
Arnold

[Donald Garwood]

AC.  I haven't jumped in, but watch carefully, and religiously.  Getting ready for the big plunge!