Has anybody taken this course? It's taught by Paul Lange and from searching on this forum people have good things to say about him. I'm not sure if I want to shell out $1500 to take this course though. I'm very interested in learning how to day trade gaps. If anybody has any other course suggestions I'm interested. Thanks.
1. I think gap trading is one of the highest probability setups you can trade, because you're riding the coattails of pure raw emotion. 2. Pristine has an excellent reputation (A+ rating and 0 complaints with BBB). 3. You can study the price action surrounding gaps based on information available on-line and in books and you will come up with a profitable plan for trading gaps if you're organized about your research. So my opinion is that the course would be a valuable one, but the real question to ask is, How long might it take me to research this on my own and develop a plan, and is it worth $1500 to possibly* shorten that learning curve? *I say "possibly" because if you can't cultivate a trader's mindset, all the education in the world will not help you become a profitable trader. You could even have a profitable trader call trades to you in advance and lose money if you don't have a trader's mindset. Mark Douglas covers this in great detail in his excellent book "Trading in the Zone".
i have been with paul lange for many years in his chatroom and before he made an official gap course. During an afternoon special program , he talked about gaps for quite a while he laid out information which frankly you would never be able to come up with on your own. it is simply fantastic. i would certainly pay this money for the class. you will not be sorry. paul is a great trader and the real deal. i have taken personally advanced management strategies and paid 1000.00 for this 1 day course and i in no way regret it. What ever paul teaches is priicey, but you will learn a ton.
Does anyone know his win/loss ration, i.e., winning trades versus losing trades. I'ed like to compare it with my own.
Is there any credible proof of performance ? ie personal monthly statements...the simplest of all proof ? Is there a real account that implements these methods showing true performance that can be verified by a third party ? Are there not many hedge funds that would be very interested if there was verifiable proof of performance regarding methods that have an edge ?
Good point, a friend of mine tested this gap strategies from Pristine out and guess what, no edge ...
Surprise ? Why make a business when you can just trade and live off your own edge. People just don't get it, the sellers are in the same boat as the customers looking for them, no clue or an edge so tiny, it's not enough to make a living off it, so guess what, you sell it.
The reason gap strategies work so well (I've never had a loser trading a gap, using strategies from my own research), is because institutional traders (such as hedge funds) have to react to price shocks, whether it's liquidating or initiating a position based on news. I'm sure most hedge funds are well aware of gap strategies and are a major factor in the price action surrounding price gaps.
I respect your posts and the tons of contributions you have provided over the years, but don't you think you went a little overboard with this statement?
My statement isn't overboard. I don't trade equities often and I trade gaps even less often and only under a very specific set of conditions. It's the most high probability setup I've ever seen when these conditions are met. If I traded gaps every day or every week I'm sure I'd have some losing trades, but even then probably not many because I use price action to determine how and when to enter. Price action trading is difficult to learn and even more difficult to trade (quite counter-intuitive at first), but the reward for mastering it is tremendous.