Ive joined babypips for the sole purpose of answering this. Id like to take the time to write about my own experience on the ITPM education.
I first started out playing around with FOREX as i was running a very small business that involved payments over 3 different currencies. I found myself trying to time currency moves to my advantage.
This led me into technical analysis day trading forex. To my credit i ended up getting more than 50% win rate on trades, which meant I was literally putting on at most 2 or 3 trades per week and doing nothing else except avoiding wishful thinking in extremely low volatility. Within 4 months i stopped as I was starting to realise just how much I didnt know.
Time to find a professional education.
Id looked through many and narrowed it down to ITPM and bought the discounted Christmas PTM video series. I loved it, and that’s possibly an understatement. Firstly ill mention some of what I learned:
the importance of volatility, how to analyse the volatility of any asset and how to use it to your advantage. i.e dont day trade forex as a regular habit like i was. This will enlighten you to take an approach that puts the odds more in your favour and not in your brokers favor.
developing a systematic process. Using a top down and bottom up approach in a quantitative asset selection process to narrow down opportunities globally.
using the right information and indicators to help form your views in the systematic process. No, you cant just ‘google’ this unless you know what to look for and how to interpret the information and use it in the asset selection process. In fact a lot of information out there is plainly misleading or outright BS
bottom up asset selection. What counts in a quantitative selection of assets. You can definitely expand this with free information after you have done the course because you will have an idea of what to look for. In fact its expected of you.
how to structure an overall investment plan with solid risk management and sensible growth with the understanding that your job as a trader is to protect your capital first and foremost
how to take a fully formed trade idea and allocate capital so it ends up on your portfolio with the odds in your favor and your downside fully realised and understood.
I could write more, in fact i typed out the entire course for my own benefit, but I will say this - if you are looking to make a lot of money while breezing about with a lot of free time then you are utterly deluded and are going to endanger your capital. If that is you then stay away.
This approach requires the effort of a part time job (on top of your day to day income that you must have) and at times you will be getting much less sleep while trawling through data and running correlations. If you are doing it properly your personal life might suffer a bit, because you will be spending a lot of your time staying on top of things. Once the course ends the hard work begins. And yes - there is still a LOT more to learn.
You will simply be ahead of any retail trader who hasnt taken this course. My watchlist included short SIG in Q1 2018. Long CAT from Q32017 to Q12018, Long NUE short FCX Q32018 to Q42018 due to tariffs. I was long swedish industrials and short belgian industrials Q1 and Q2 2018 riding LUPE as the oil price rose. I used IBM as a short to take long positions in the rest of Tech sector. I was riding the decline of German autos. Facebook short was a layup. These are just the examples that stick in my mind that i would never have found without the education id taken.
I will be opening an account and taking mentoring with ITPM as soon as I can (David Perlin is probably the mentor I want if he still is involved at that point) and ill be going for the options course asap.
Im writing this because I was initially put off by all the negative. misinformed and outright false BS out there and 2nd because ITPM could probably charge a lot more for what they offer and i want to give a review of my own experience.
Anyone who says ‘just use the money to fund your own account and learn by yourself’ is literally telling you to give that money to a broker rather than make an investment in yourself.
I hope this is useful. Just remember though - if your not committed there’s no point. Do something else.
EDIT: this was written to help those googling for information on the ITPM education. Im not interested in the opinions of most of the illiterates who have already posted. Thankyou