I’ve looked for reviews and haven’t been able to find that much. Just wondering if anyone on here is a member of FX Bootcamp and if so how do u find it? It’s quite expensive but is it worth it? What have your experiences been?
Foxy, take this from my experience of being in this business for 7 years. Stay away from anything you have to hand over 5 cents for. It’s not worth it. I assume you have to pay more than 5 cents for Bootcamp.
I’m a good trader. Why would I want to charge people if I am already making a living on my trading? Why would I want to give away all my secrets? What is the motive with wanting to conduct a class for a seminar, when it is so much easier to sit in front of the computer and hit the buy or sell button?
If you are learning to trade, then you can learn all you need by doing your personal research and study. In addiiton, there is so much free stuff and knowledge offered across the internet highway.
Thanks for the reply. I just find sometimes when just reading books or things on the internet I feel I’m understanding it but I may also not be. I’ve read the FX Bootcamp book and found it quite good. It seems to fit in with the way I trade, be it on a demo account for only a couple of months. I just think that seeing how other people are trading would be an extra help. If you were not to pay for anything educational in learning forex would that include not paying for books? The most knowledge I’ve gotten from forex is through books, which have to be paid for at some stage and watching seminars on YouTube, which would have also had to be paid for. I know there’s a lot of fraudsters and people offering holy grail type stuff online but I’d also be willing to pay if I knew the substance was beneficial. In your years of trading has much of it been done while interacting with other people or has it mostly been done through reading stuff online?
I found these reviews but don’t know what side to trust: FXBootcamp Reviews | FX Bootcamp Ratings | fxbootcamp.com | Wayne McDonell Review The people saying it’s bad seem to have something against the owner’s personality as much as the website and I don’t know if I should trust the good reviews. As I said I found there to be some good stuff in the book.
Note: This review is in reference to Triple Threat Trading which may be a different company than discussed elsewhere in this thread.
I took the free course offered by Jason Stapleton which they now call the “2 week Boot camp”. I also subscribed to the Trading Insider program which was “on sale” for $100.00 per month.
First, the Boot camp:
Most of the approximately 30 hours of "instruction: is 90% motivational speech and only 10% “training”. This is not bad, necessarily. Everything Jason says regarding trading is essentially true but I was put off by some unnecessarily political statements he made with which I disagree. Further, Jason is, admittedly, a bit obnoxious. As an instructor, I know students can be annoying but instructors need to be patient and expectant of that. To react obnoxiously only reflects poorly on the instructor. But that is all a digression.
I don’t regret spending the time in the free forex boot camp. There were some interesting speakers and Jason does reveal some powerful trading strategies, but his strategies are strictly for folks with extensive trading accounts that can weather frequent drawdowns. This is not how I trade.
Some of the Bootcamp is designed to justify why you need to spend $3000.00 on a trading system. Jason related this to owning a franchise. You pay for an established business plan, rather than try to be successful on your own. All true I guess, but again, you don’t need THIS system to be successful.
That said, I have no doubt that the system is good stuff. But is it $3,000 good? I would rather load up my trading account with the $3000.00 and take less risky trades and watch that money grow.
At first, I really got the impression that Jason just wanted to share his success, but in the months since I took the free course I have been inundated with emails that push “limited offers”. This leads me to believe that Jason’s “trading enterprise” is more about sales than actual trading.
Now, Big Mo:
I was on the fence about whether to buy the “Big-Mo” system until I saw the video Jason produced to market it. They claim that they are only offering the system as a favor to a friend who has cancer and is without a car. The rest of the details are strange. Supposedly, Jason is giving the friend his used car but this seems dependent on the sale of 100 copies of Big-Mo. So you do the math. $400.00 times 100 is how much? Enough to buy Jason the new car he talks about. Nothing in the video said that they were giving the proceeds to the friend. Just the used car. This make me wonder, again, how successful a trader Jason really is. I was ready to grab up Big-Mo until I saw this circus. Afterward, I felt like an idiot for even considering it. They act as though they had no intention of selling Big-Mo until this situation arose but then they explained how much effort and expense went into the training platform that accompanies the system. This tells me two things.
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They have long intended to sell this system.
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They will be selling far more than 100 copies.
So why the song and dance?
In fairness, this is not unlike the tricks most retailers use to goad us into making impulse purchases, except for the strange cancer-car story which I thought was in poor taste. If it were true they could have just done it instead of making a public issue of it.
Finally, the “insider” program:
I subscribed for a while before canceling my subscription. In that time only a handful of trades came across the “trade-caster” and NONE panned out. I get better “signals” from Forex.com’s twitter feed. And these are free. In addition, the weekly training that came with the program was rank beginner stuff. You can learn more in Baby Pips’ School.
I was concerned that I would still be charged after canceling my subscription but, to their credit, they canceled my account at my request and so far I have not seen any unauthorized charges.
In summary, my overall impression is that taking the boot camp 2.0 course is like joining an exclusive club. This is tempting, but based on the lackluster performance of the “insider” program I wonder if the price is worth it all.
Personally, I would like to hear some feedback from folks who have followed Jason’s program for more than a year. I have decided I don’t need any of it but if anyone has some honest contrast to my experience it should be represented.
In all, I found these folks to be a bit over the top as far as marketing, but their honesty regarding cancellations was reassuring for anyone who wants to give it a try. I trust them in this regard.
forexcalibur, thanks very much for your reply. I’m travelling at the moment and I’ve only read over it quickly because I find it hard to read on my phone, which is the only brief bit of internet I can get. But from what I’ve read it’s a very detailed response. I just wanted to thank you now while I have the chance. I will read over it properly once I have full internet. Thanks.
Here is more I have learned since making this post.
Jason continues to use the strategy of making people think they are somehow exclusive by making references to “those traders” meaning other people who are not as “dedicated” and “devoted” as “you”.
Just a day after I posted this, I got am email from Jason saying that he was “going underground” and that he would no longer be teaching because he feared he would “loose his edge”. That email urged all “serious traders” to follow the link to his 'underground blog" if they want to stay current with him. He concluded that email by stating that “most” people would not even read the whole email (because they are stupid and lazy, I guess) and those who did (like me) are somehow “select”. (Oh, Joy, Jason things I’m great!)
The following day I got yet another email from Jason that completely contradicted the previous. He said that due to “hundreds” of requests that he continue to post his videos he would continue to do so.
I am now thoroughly convinced that Jason spends most, if not all, of his time scheming new marketing campaigns, rather than trading.
As a trader I know that you can’t actually trade if you are that distracted with nonsense.
My new recommendation is to steer clear of him altogether. Though, I would not be surprised to see his whole scheme resurface under yet another name.
Also, having had allot of time to reflect on Jason’s system statistics, I’m no longer impressed. The sample he provided shows a 48% win rate. Now, his point was that you can still make a profit with only a 48% win rate. But why should you? Aiming for under 50% is just stupid. I was trading at 70% my first month and I am no genius when it comes to finance. I know of plenty of traders that maintain a 90% success rate and many weeks I do as well. You can too!
When I looked over the details of his data I realized that the draw-down was entirely unnecessary and it would have wiped out the accounts of most retail traders.
Further, Jason insists that fundamentals are irrelevant. So I tested this against his system. The handful of trades that did come across the “trade caster” were directly influenced and overturned by news of the European crisis and US data.
Divergence-Counter-trend trading only works well during a typically volatile market. Making claims that you should trade entirely on technicals, without regard for fundamentals, is irresponsible at best.
In my opinion, anyone could duplicate Jason’s results by just opening random trades and setting a trailing stop. Just ride the winners until they turn over and stop out the losers. In other words your chances for win or loss are 50/50 (random chance).
That is if you have a few million in your account to work with. So, I’m not impressed by Jason’s complex indicators. They are smoke and mirrors for random chance. In fact, his results show that he did not even do that well at 48%.
Folks, take a free course and start experimenting with what works. Take advantage of those free seminars and broker trainings. With that alone, I went form nothing to profitable trader in 3 months. You can too.
I hear this type of logic a lot but never really understand how folks reach this conclusion. When did it become bad business to diversify and create multiple income streams by monetizing your ability? You have no idea what the future holds, and there are times you will have DD or even losing months. I will never understand why some traders have such a negative view on business. Diversification and multiple income streams are business 101.
With that said, I trade for a Hong Kong based hedge fund and I mentor traders on a daily basis for a large FX education site that will remain nameless for this post. I wouldn’t want people to confuse this with an attempt to get clients. Anyway, mentoring traders allows me to create a secondary income stream and it also helps to keep me sharp. Even before I started teaching I was constantly in chats or groups that always help maintain my focus in this often lonely and boring business here at home in my office. Any question about my trading ability I just point clients to my live account over at myfxbook.
Lastly, by your logic, why would traders who are successful and know what they are talking about take the time to write and publish free content when all they have to do is sit and hit the buy and sell button? What does that say about the folks here at babypips?
I learned from a mix of free and paid resources. In my personal experience it was a paid resource that really gave me that “aha” moment and pushed me over the hill. Could that instructor trade or not I have no clue. It really didn’t matter because the principles he taught me were true and they worked. Whether or not he had the mental fortitude to follow his own principles I really don’t know. But that is what is so unique about trading, you can know exactly what you should be doing, but what you actually do when faced with the emotions in a live trade environment is another story completely.
Anyway, just my 2 cents. I have no personal experience with FXBootcamp so I really can’t speak to that service. Also remember that people rarely like to be accountable and blame themselves for failures, and in a business where the vast majority of new traders fail to ever make consistent profits you can expect a large number of negative reviews. Statistically speaking, unhappy people will write a negative review much more often than a happy person will write a positive review.
I am not here to be argumentative, only to try to understand and share my point of view and experience. I have been trading this market for the past 9 years and mentoring traders for the past 4.
Best Wishes,
Chris
I’m not sure if you are aware this post was made in 2011? After reading his post and your response, I couldn’t help but to look up his profile. He hasn’t posted since 2011. Maybe he didn’t know as much as he thought he did; with no disrespect intended to him.
So anyway on to your post. In my opinion it is not bad business when you’re in business to have multiple streams of income. I am diversified and have multiple streams of income myself. I knew this guy that was heavily involved in multi level marketing and I will never forget what he said about being diversified. “ I didn’t feel like doing sheet this month. . .it’s a good thing somebody felt like working, I made $10,000” I don’t know how true the storey is but I never forgot how he applied it.
Like you as well, I learned through several different free programs as well as paid programs. Like you I had a few aha’s and some were duds. Which is why when you are thinking of purchasing any service you should do your home work and use some common sense. There are a lot of reasons people sell their services or offer them for free. For example multiple streams of income, wanting to help people succeed because someone helped you and yes some people are better at selling the sizzle than they are cooking the steak, so they sell the sizzle. I participate in this forum to learn new things and reinforce what I already know about trading as well as offering my 40 years of business experience.
Some people buy services based on the thought that the service will not only teach them, but do the work for them as well. Then they’re upset when it doesn’t happen. Or they’re told they need to do 10 things starting with 1 and proceed 1 at a time til you get to 10, but they do steps 1 and 2 then skip to 8,9 and 10 and can’t figure out why they are successful.
Anyway nice post
Gp
Amen brotha!
I’m still at it. Still not making a consistent profit but working on it. I read books and watch seminars etc online rather than forums these days. Thanks for the replies guys.
Glad you’re okay and still at it.
Good Luck
Gp
I have been following Jason Stapleton for a few weeks now on his Youtube channel and I do not know how he was before, nor can I really judge on his trading strategies. He has some Youtube movies with CRAZIEST TRADING EVER SEEN blabla. That is scam bells all over for me at the moment I see it and click on it. On that particular video he makes some winning trades, but it is the power of selection of course. Also he has something like the Syndicate where you get daily trades etc. etc. for 20 dollars a month. I am not sure about this either. Also, I am not sure why you should stop trading to start a school / run an extra business when you are a pro trader. I can imagine that trading gets boring after a while and you want to do something more exciting, hence starting your own business. On the other hand, again, why stop trading when you are profitable?
That being said, I have learnt a thing of 2 from those videos. Or, his latest videos. He has two main strategies it seems and that is harmonic pattern trading and structure leaves clues. To me he makes trading seem learnable, if you spent a lot of time for it. He basically always says the following for all his trades.
[ul]
[li]Look for a pattern (cypher, bat, standard ABCD)
[/li][li]Fibonacci this ****, coming close to levels, you got a potential trade
[/li][li]Look left, structure leaves clues (check for S or R), only start a trade on bounces and confirmation candle.
[/li][li]Find conjunction with your RSI (oversold for longs, overbought for shorts)
[/li][li]Determine your TP / SL (with Fibo if possible), at least 2:1 for first profit target
[/li][li]Make the trade, when first profit target is hit close trade partially, move your SL to breakeven
[/li][li]Rinse and repeat.
[/li][/ul]
And honestly, I like this. I am not an expert in finding patterns but I have seen the charts now, I see the movement of the legs (trending and non-trending). I finally know Fibonacci (also a bit by Jason) and I always check the structure now before even thinking of opening a trade. I know where I can place my SL and TP due to this. It is all pretty simple basic stuff I guess but for all I know, Jason was the one who really stuck it to me.
Maybe one wants to impart wisdom and help others rise to te challenge? its not always about money. just a thought.
I have been trading Forex for a couple of years now and the one thing I have learned over that time is the market goes up and down when and where it wants. However, it does follow patterns. The Key is which pattern? I recently attended Jason’s free workshop to see what he does, which is very close to what I do. Some days I do very good and other day’s I do not. However, overall the good days outweigh the not so good days.
As for the training issue. If you look at the amount of money, they are charging for the classes and the number of students that are claimed to be attending, which for me is a very good day every day. Who would not want a very good day every day?