Comments on: Update on Franz Shoar: Heeee’s Baaaack!

by: Kronos

Sun, 30 Nov 2008 23:18:24 +0000

Spartacus,

Thank you for your description. I am in Toronto as well, and I heard about Bulls Eye Traders on TV. Can you please tell me how much exactly the training costs and whether you really need to continue joining the rooms and pay the $250/month, or whether you can make good profit using what you learned? Also, if you don’t mind, please explain how much you started investing and how the result has been using the TI methods. Anything you could share would be greatly appreciated.

by: Spartacus

Sat, 29 Nov 2008 16:04:54 +0000

Yes, I agree that my comment sounded like a paid shill, but, no, I have never been employed by TI nor had any relationship with them whatsoever except being a student who took their course after visiting their booth at an investment conference here in Toronto a few years ago. At the time I had had about 18 years trading futures experience on a very parttime basis. I was quite familiar with technical and candlestick analysis, but had wiped out my account more than a couple of times and was looking for a more systematic way to trade. When I saw what TI was doing - ie daytrading using a strategy based around divergence i t caught my interest as I had experimented with divergence myself in my position trading.

Anyways, like I said, I cannot say that I had consistent success using their mehods from that time, but I also admit to making several stupid emotional trades that were well outside of their teachings. One of those errors took place when I was trading the Euro futures at about 6 months ago and for a few minutes did not have a stop in place at a time when the market is usually dead quiet (10pm). The market suddenly crashed (owing to some oil disruption in the middle East it turns out) and again I wiped out.!After reading Market Wizards at least I see I’m not alone making bonehead plays like that.)

But what I had learned was that a few of the higher probability signals that TI had taught were working at about 60-65% but the basic simple signal was little better than 50%. I was curious if the course had changed since I had taken it and so I contacted head office. The president told me there had been many changes and sent me out the new version. The basic divergence philosophy was still there but there were many refinements. I began testing it out in sim and also changed my platform to Ninja because I had all sorts of problems with my previous platform.

One of the biggest changes was the availability of the 2 trading rooms. Now, here’s the thing. After being in both rooms for several days I can tell you that in my opinion the 24/5 room will help you implement the course teachings. The moderator , Rich, is an excellent mentor. I believe new students who take the course receive 2 or 3 months free in the rooms, and after that it’s $250/mo. But the intention is to make us independent traders, not to have to rely on the moderators at all eventually. However, I also have to say that the other room - the Pro Room - has a different moderator who makes his calls using his own background in TA and not necessarily using TI course material. Myself, I prefer the 24/5 room, but to each his own. (There’s also 2 overnight moderators based in Australia who also adhere strictly to the TI methodology.)

I do not personally care for like the heavy promos that TI puts out but I can say that the signal results are accurate at least for the 24/5 room because I am in that room and have my own record in my trade journal. Can’t speak for the Pro room as not present usually there. Also, note that the Pro room’s results are a result of trading 3 contracts (that moderator’s particular strategy) as opposed to the 24/5 room which is per contract.

Sorry for the length. but when I came across this link a few days ago I just felt TI was getting a bad rap. Things change. Keep an open mind. Hope this helps and good luck with whatever path you choose.

by: newme123

Fri, 28 Nov 2008 06:19:17 +0000

I am sorry, but you sound like an employee or someone they paid to make this comment about TI.

Let me ask you this, You pay about 6K to Ti and you withness their rooms , some are in green and some in red trading.

If you pay 6k for a course or training and you will have to stay dependent on them and keep paying $250 per month indefinetly, how good is that training?

by: Spartacus

Fri, 28 Nov 2008 02:44:04 +0000

As someone who took the TI course about 4 years ago I have witnessed its development since with some interest. I did have trouble with its basic strategies working successfully at that time. and I can understand the frustration of somtraderswho may have lost money. However, when I obtained the updated version of the course about 3 months ago (all members are entitled to updated versions free), I noted there had been some substantial changes made although the core elements had remained intact. More recently, there have been new signals introduced by one of the moderatrs of the 24/5 trading room, Rich, which are showing very good results at least in this early stage. After trying it in sim for 2 months and recently gone live I am pleased with the results.I do recommend all traders read Mark Douglas’s books on the psychology of trading, but as for a system offering a realistic edge, yes, I think TI can deliver that. (Rich, the insructor-moderator of the 24/5 room is an excellent mentor - the antithesis of the likes of Franz Shoar.)

by: Babak

Wed, 26 Nov 2008 08:04:54 +0000

He could also use a service like collective2, proving performance and charge money based on the trades. I think you have the wrong approach because you’re looking for a free ride, “some other service” which you could sign up for - no free lunches.

by: newme123

Wed, 26 Nov 2008 03:08:14 +0000

Not real. If the software is so good $7k is tto cheap. But reality is different. Even a $1 is too much for a crap he is promoting

by: to: BABAK, re: Training session from Franz @ 7K

Tue, 25 Nov 2008 21:14:26 +0000

Hi Babak, thaks so much…
just have some temptation about what Franz promoting about the 7K cost for his Training Session — says that he has a Software to guide you doing the Trading on Mini S&P (buying/selling) — says: the software analysis/monitors all that… and then would suggest for the best time to do the trade and get out of it too for the most right moment!!
how true this could be ?
could you refffer me to some other services, that i could sign up and start… ! ?

thanks again

by: newme123

Sat, 22 Nov 2008 03:20:18 +0000

I agree totally with Babak.

This guy has very bad reputation.
He acts like a con and do not reveal any informatin up front, other than all the bs and sales talk.
Save your $7k.
Think about it. If this guy is so succesfull, why is he working so hard promoting himself, rather than trading .

He does not make money from trading , I am sure. He makes his money looking for the naive and inexperienced or desperate individuals looking every where to enahnce their financial life.

by: Babak

Sat, 22 Nov 2008 02:26:54 +0000

it is BS, there are no shortcuts or magic bullets - just saved you $7000 (you’re welcome)

by: Interested-IN-TRADIING-S&P options

Fri, 21 Nov 2008 17:57:52 +0000

could anyone help me with learning the “Real Thing” that Franz claiming that doing!!
his fee is 7k to have anyone to watch over his sholder for 7-months…!!
and his Live Broadcast is online once in a while on bullseyetraders.com !!

and has anyone who is trading as PRO, would be willing to examine his live demo online — and see if he really is making money — he claims in a Live demo!! … is it actually true or just BS !! ? his online demo is on bullseyetraders.com … and one could sign up for it
please email me the results … i’d really be appriciated !

thank you