Hello,
To answer a couple of questions.
The trial requires that you sign up and give your credit card info but they only charge $5 initially. If you don't cancel within 14 days they charge the balance to the card - up to about $500US depending on what options you choose. It makes sense to sign up for everything because then you have access to everything for 14 days and if cancel it's the same result because it only costs $5.
As for how it's going. Well, this is day 7 out 10 trading days in the trial. Despite the frequent comments about how good they are at "selling" the room I haven't really found that to be the case. It's more like I've sneaked into a private club of experienced traders and so long as I'm quiet I'll be allowed to stay.
There's no "new member" program, or "how to get started" anything. It's a total sink or swim scenario. Perhaps that's not a bad thing because this certainly isn't for the lazy or the faint of heart. That being said I have spent dozens of hours going over their web site, watching videos and reading forum posts.
To be fair - they've been quite responsive the occasional question I've posted during the on line day - but being so new to it all I don't even know what I don't know - therefore I don't have much in the way of qualified questions.
They do call trades out all the time though. If you were quick enough you could simply trade along with them. They trade many different instruments though. Of the e-minis it's mainly YM, but they're also trading corn, soybeans, gold, potash, etc. It's pretty hectic.
Imagine trying to learn how to be a brain surgeon just by watching a couple of weeks of surgery over the shoulder. That's about the feel of it.
From what I have observed though, and the interaction between the experienced traders and the presenters (Senters and Carter) I think the two guys are sincere and competent. With time and a bit of luck it will probably be possible to assemble sufficient knowledge to take advantage of their experience.
The custom indicators they use (that are apparently mostly available on Trade Station related sites if you know where to look for them) seem to be good. They certainly follow their own system and their own rules without much deviation at all.
Yes - I am using TS for the execution platform. This is a good example of how they let the new guys down. After a couple of days in the room I was able to figure out they were using something called Trade Station. I told you I was completely new. I had not heard of it before. So I set about opening an account with them. Takes several days to get it opened and money deposited. They do not charge for the software but you have to drop cash in the account of course - $5000 min for futures.
Once I got it installed and started trying to figure out how to use the order entry software I realized that it looked different to what they use in the room. So, I asked a question in the room and was told they don't use TS for orders because it's too slow and various other complaints. They use a variety of other platforms, Strategy Runner, Infinity, and so on.
It's really annoying. They should have a link to a new user info page where they layout the basics so that the first 10 hours of material doesn't take 100 to discover like it has with me.
The nightly live trade videos are helpful and eventually you can start to piece things together.
Overall - I remain cautiously optimistic and will probably pay up for the first month to give this a decent shot. They certainly have their shortfalls when it comes to getting new users up and running. I expect they all do. These guys at least (until proven otherwise) have met my requirements for being honest and competent. The rest will just be hard work.
Rockhoundnz - thanks for posting that link. It's a great video.
I'll get back with more info as things develop.
Thanks all for your thoughts - Geoff