Frequently Asked Questions
"In a time of drastic change, it is the learners who inherit the future."- Eric Hoffer, philosopher
"Never let the fear of striking out get in your way."- Babe Ruth
Profits on Wall Street is a 5 session workshop, designed to teach someone how to make money with stock and/or options. The class meets every other week and each session is 6 to 7 hours in length. Experience has shown that giving people two weeks between sessions allows them ample time to review the materials taught, and to practice what was taught without dramatically impacting their normal day-to-day life. The sessions have historically been small in size, giving the feeling of a personal instructor. Workshops are scheduled as demand warrants, but typically are offered 3 times per year in So Calif. There is also an audio recording of the class that is available, but the online order page has not yet been built. Ask about the audio on the Contact US page.
There is a printed manual that is about 175 pages.
You’ll learn that semantics are critical. People have different definitions of day-trading. “Day trading” might describe someone who does dozens of trades per day, with the objective being to capture 10 cent to 25 cent moves per trade. Since our objective is a handful of trades per month, as opposed to dozens per day, then this is certainly NOT day-trading. You will learn some techniques where the holding period ranges from days to weeks. You will learn other techniques where the holding period could be as short as one to two days.
The objective of the workshop is not to replace one full-time job with another - - the objective is to replace the income from a full-time job - - Once you get the hang of this, it does not take full-time hours to make that income.
You actually can take the setups and techniques that are taught and employ them in a day-trading strategy, if you wanted to. However, it’s much more fun to go enjoy life. It is expected that you want to learn this in order to get away from a desk, not to remain chained to one.
The First Class costs $100. Attendees will receive a 40+ page manual and will learn about the market as well as get some insight into a simple strategy for managing their 401k. The student's objectives for that first session should be:
- To determine if they like the teaching style and approach.
- To determine if the instructor knows his stuff and can teach them something
To determine if they want to commit to attending the remaining 4 workshops for $1900, which includes a copy of an audio recording of the entire workshop. The audio by itself is $700. There is no hard-sell to get someone to commit.
Unlike other trading seminars, very little time is spent talking about the potential earnings that are possible. The reason: people are already so greedy and dreamy about money; there is no need to add more fuel to that fire. That said, if one becomes moderately successful at this(not a superstar), following all the rules, they could make $100k to $500k per year, within about 5 -7 years. There is no way to promise what someone can earn, nor by when. It all depends on the individual; their work ethic; their ability to follow rules. Rather than focus on the potential dollars, most of the discussion revolves around the trading rules and the mental discipline that is necessary.
Learning the stock market will take effort; it will be the most frustrating thing you have ever undertaken. If you expect this to be quick and easy, please save your time & your money and do NOT take this class.
No student can ever say “I was never told how frustrating the stock market would be to learn”.
However, once you've learned "how", the actual "doing it" is really quite easy.
There is an audio recording of the class available for $700. For someone attending the live class, the audio recording is included. Students have suggested having quarterly mixers, open only to graduates, in order to review the current market conditions; review prior trades; and to have the ability to network with like-minded individuals. You'll find that it is important, not matter what you do in life, to surround yourself with positive-thinking, supportive, like-minded individuals.
Individual coaching is also available.
- the cost of the workshop.
- you’ll need an internet connection;
- you’ll need a computer;
- you’ll need charting software (the one I use costs nearly $200/month – there is a free one that does almost everything but it requires having an account at a specific brokerage).
- there is a recommended reading list of about 20 books (most are available at county and city libraries around So Calif)
One of the wonderful things about a “trading business” is that the monthly overhead is constant, regardless of how much income you are making. To make $10,000 per year, or to make $10,000 per month, or to make $10,000 per week, the monthly overhead expense is an internet connection and charting software.
This is a wonderful business!
There is no mass advertising. Instead, students hear about the workshop either directly from the instructor or directly from a former student. It is all by referral. The class size is kept small so that there is personal attention. You are not sitting with 198 other people in a hotel ballroom, squinting to see the presenter. You are one of two dozen people in a meeting rooom. The premise is that if the workshop is good, graduates will tell others, which is probably how you found this website.
The focus is always on course content, and how to make someone become a better trader and investor.
By focusing on the content, instead of focusing on getting more butts in seats, the graduates will become better students of the market. They get excited with their success and then tell others about the class. In fact, this website was created at the request of students. The website makes it easier for them to explain the class to interested friends, family, & colleagues.
- How many times has someone said to you “You have GOT to go to this stock trading class!”
- The instructor is a self-taught trader, who was constantly asked “how can I do what you do”, so he developed a class.
This is NOT a get-rich-quick scheme. If that's what you want, buy a lottery ticket. This will take time to learn. Think about what you currently do for a living. It probably took you at least a few years to learn in order to be good at your current job - why should learning to trade be any different?
- The goal of the workshop is for you to be able to quit your job within 5 or so years.
- There are no salespeople lingering in the back of the room, trying to sell you other classes or software
- It is repeatedly emphasized to expect this to be challenging to learn. Depending on your background, there may be unfamiliar vocabulary that you’ll have to learn. Like an airplane cockpit, there are a number of knobs, dials, and instruments with which you’ll need to become familiar. The biggest struggle people have is the mental disciplne that trading requires.
- Price. The course fee includes a copy of an audio recording of the class. The total time in the workshop exceeds 30 hours. Other training courses can charge more than 10x what you’ll pay here.
It will usually take someone about 90 minutes per day to get the “work” completed. However, like any new job, it will take a rookie a lot longer to do what a veteran can do in 90 minutes. How long does it take a rookie to become a veteran? - that depends on the person. Beginning students typically take a couple weeks to figure out how to finish the work within 90 minutes. Those who become passionate about this will find that there will be some days where they spend more than 90 minutes studying the market. They will also spend time on the weekends, studying this. If you want to learn something, anything, you are going to have to put some time in to study it.
This is a similar concept as going to the gym. You can't expect to get a body-builder-type physique, ala Arnold Schwarzenegger, if you only go the gym on Saturdays. You need to go the gym, nearly every day...for years. In the stock market, the person who spends 2 hours every day, studying this, will not grock this twice as fast as does the person who spends 1 hour every day, studying this. However, they will both grasp the material more quickly and more thoroughly than the person who spends 3-4 hours every 3rd or 4th day. You will grasp this more easily, and get less frustrated, if you consistently do a little bit, every day.
There is also a reading list of about 20 books, which you will want to squeeze into your first year of learning. The books are primarily “how-to-think” books, as opposed to “how-to-do” stock market books.
The instructor makes his living from trading. After years of observing his own trading, as well as observing
others, he has learned, and reiterates this constantly during class – “this is max, 5% “how you-do-it”…it is 95% "how-you-think"…and it is 100% discipline”.
Most people learn the stock market by focusing 100% of their effort on the “how-to-do”. However, that is only 5% of what is required. They never address the remaining 95%...and the result is failure.
When you’re new, the stock market vocabulary is unfamiliar and the techniques may be confusing. It is no different then when you start a new job. With time, you became more comfortable, and eventually, it became second nature. The stock market will be the same way.
Once you understand the vocabulary and the techniques, then you will need to recognize and conquer your emotions of greed, hope, and fear. At that point, it all becomes mental…and the mental part is the hardest part. It is a challenge yet it is an awesome journey.
Progress is measured individually by “you”. Only “you” will know how well “you” are doing. This could be the hardest and most frustrating thing you’ll ever learn. However, once learned, this is very easy to do. It has been said that 80% of the people who start in the trading arena will eventually quit. Why do they quit? Typically, it is due to either a poor work ethic and/or a lack of personal discipline.
The program will last a lifetime. If you pursue this, you can do it until you die or become incapacitated. Once you make the commitment to yourself to do this, there are only two possible outcomes. One is success. The other is that you die before achieving success. Dying is the only acceptable excuse for not reaching success at this.
Three traits are needed to succeed at this…
- be willing to follow instructions
- have a good work ethic
- have a “don’t quit” attitude.
You will start with a year of paper trading where you will practice 20+ techniques. You will likely find that you’re not that good at any of them. (That’s why you paper trade!) You will see that the market acts differently at different times of the year. In the 2nd year, you will start trading with a small amount of money. That’s when you’ll discover that you have some incredible demons living inside of you; they are named greed and fear. You will be amazed (often mortified) at the chokehold that these emotions have upon you. You won’t like what you see. There is where you’ll discover how tough this is, mentally. Once you can identify and then address those greed/fear issues, that’s when you’ll get good at this.
After observing many, many people learn this, it’s reasonable to expect it to take about 5 years to get good at this. It is NOT a race. You will go at your own pace, but you can NOT sprint; it is a marathon. It is a marathon of small steps. You will do a bit at a time, slowly letting things sink in. If it takes you longer than 5 years, so be it…if it takes you less than 5 years, there are no trophies given out. No matter how long this takes you, the reward you receive, your trophy, is freedom with your time.
Think back to college – even after 4 years of school, you did not know much when you entered the workforce. As you learn to trade, by sticking to the rules, you should be making money well before that. At five or so years into this, following all the rules, you should know the “how-to”; you should have identified and addressed your greed/fear issues; and it is at that point that you’ll realize that this is actually quite easy to do.
The workshop is designed for someone with no knowledge of the stock market. The workshop starts at the basics and builds from there. Experience has shown that you can succeed at this if you possess three characteristics:
- can follow instructions
- have a strong work-ethic
- have a don’t quit attitude
With those three characteristics, you have what it takes.
Having a finance background might actually slow one’s learning time. Stereotypically, someone brand new to the market will be in awe; they will put the instructor on a pedestal; and they will not question what is taught. In comparison, someone with a finance background will often question and doubt what is taught; they may get academically-stubborn, insist this is wrong and may then go try it their way. Ultimately, they will either quit or come around…remember, 80% of those who try trading will fail and quit.
There is no question that this is worth learning, but you must come to your own conclusions. Whether you learn it here or someplace else – you are strongly urged to learn to do this.
At some point in your lifetime, you will be living off of your investments, unless you’re expecting government to take care of you. If you are going to eventually “live off your investments", it makes sense to learn "how" to do that "now" … before you are forced to do so later. This can not be learned quickly. Spend the time now to learn, so that when that time does come, you will already know how to do it, and the transition is seamless.
He does have an MBA but has never worked on Wall Street. He spent many years studying the market; spent lots of dollars on books, seminars, and trial & error. He left his corporate job in the depths of the bear market, during the dot-com implosion, to trade his own money. Over the years, enough people kept saying, "show me how", so a course was developed.
Be prepared to be constantly told that this can not be done. You are going to hear it from friends, family, co-workers, your stockbroker, even strangers on the street! Those who tell you this are often well-intentioned and will typically fall into one of three groups..."
- The 1st group is comprised of those with negative attitudes. No matter what it is that you want to try, they'll tell you that it can not be done.
- The 2nd group includes those who tried trading, but failed. They typically focused 100% of their effort on the "how-to" but overlooked working on their mindset, which led to their eventual demise. Remember, nobody cares about your money more than you do.
- The 3rd group includes the financial industry types who get paid to tell you how to invest your money. There is a cruel irony with this 3rd group. The cruel irony is that very few of them actually make their living by trading/investing their own money in the stock market.
However....I do...and am willing to show you how I do it."
Fill out the Contact form and you will be emailed information as to when & where the next class is being held. If you have a group of 6 or more, arrangements may be made to hold a private session specifically for your group.
"The cave you fear to enter holds the treasure you seek."- Joseph Campbell, writer
"Nothing in life is to be feared. It is only to be understood."- Marie Curie, winner of two Nobel Prizes