Replies to post #1 on Koolaid Discussion Zone

[overachiever]

Good review. That should give people a good idea of what they will get by signing up. Instead of spending 1500 dollars for that, they should consider buying a book on technical analysis for about 12.95 and it would cover the same things.

[Buckey]

Excellent review

[janice shell]

Very interesting. Do you know whether Monk is really trading "live"--as in spending real money--on the live trading days?

Your posts suggests that he isn't.

[NMC]

Ninja...I have just read your post and I am compelled to respond...I do understand where you are coming from if you have only experienced the Phoenix "Hybrid" class.

I was also in Phoenix and had zero charting experience but lots of "hope stock" experience...in fact I had become quite expert at buying high and selling low!

When I left the Phoenix Monkinar I was super excited about what I had learned...paper-traded very successfully...went live and lost money...

Because I believed in Monk and believed in the simplicity of his system, my husband and I attended the Basic in Portland...I spent the weekend saying "aha! now I get it"

I then took my daughter to the Basic in Grand Junction and was totally wowed by the presentation...and a whole lot more "Ahas"

My husband and I attended the Advanced in Boston last month and we are both making money using Jerry's methods and settings!

Having said all of the above, I need to tell you what I think happened over the past two years...someone (Ex Blockman) asked Jerry to come out and teach him how to trade because he was at his wits end financially and didn't know what else to do. By the time that visit was finalized, ExB had a few other people who were interested in learning and the Monkinar was born. A few other folks heard about Jerry and asked if he would teach them (much closer to home for him) The folks that attended those first Monkinars were anxious to learn more, so Jerry put together the "Advanced" class in Phoenix and you and I, among others (almost 40 of us I believe) went to Phoenix...

My point is that this was a "work in progress" at that point...I don't believe for a minute that Jerry knew how big his Monkinars would grow and how fast it would happen...I attend every Monkinar I am able to...to meet the absolutely best people I have encountered in my life...and to tweak my skills as a trader...

What is taught at the Monkinars works...end of story...period...nuff said!

[Blinton]

I think a lot has changed since the first few Monkinars. Jerry now has videos prepared and talks about some of the topics you mentioned below.

But what really matters is that people who I've attended the class with and kept in touch with after the fact have all had a lot of success in their newly acquired day trading skills.

I personally had no day trading experience before the Monkinar. I used to focus on fundamental analysis and swing trades. Days after the basic Monkinar I was averaging 1-3% per day. Soon after going to the advanced Monkinar I was averaging anywhere from 5-10% per day (depending on volatility for the day). More importantly, I have yet to have a losing day to date.

I asked about money management during the Monkinar as well (I've read a few books on the matter and wondered what strategies Jerry preferred). I was disappointed at the time when we didn't discuss the topic. But later after having such success I realized... who cares about money management if you don't have any losing days. Seriously.

And who really cares about what he does or does not teach when you can pull those kind of profits every day. Honestly, what is there to complain about?

You won’t learn about more than 3 or 4 basic indicators. For those of you interested in the math behind these indicators, you won’t get that either.

You won’t learn how to do anything with indicators besides use them for Monk’s system (e.g. you won’t learn how to detect bullish and bearish divergences, etc.).

You won’t learn about basic chart patterns (e.g. head and shoulders, flags, pennants, double tops, etc.) nor will you be taught how to draw a correct trend line or channel.

You won’t learn how to conduct scans or search for your own plays.

You won’t learn about level 2 quotes or how to read and use them.

There is no discussion of different order types beyond market and limit (e.g. trailing stops) nor is there any discussion of money management (e.g. enter or exit a trade in pieces as opposed to going all in or all out at once). There is no real discussion of limiting losses (e.g. when to exit a failing trade or how to use a trailing stop).

[waltczyk]

here is what i don't get - 3 to 5 percent a day? - if you start off with just 100 dollars and make 3 to 5 percent a day - you will not only become the best trader ever but also not spend anytime doing seminars and unethical FLD schemes because you will be rich beyond your dreams in one years time

the best traders in the world do not have an 82% success rate and earn 3 to 5 percent a day - no one has that type of consistency day after day

my personal opinion is that monks system loses money and thus he needs to use unethical FLD plays to make his money

compound 3 percent for 200 trading days starting with 100 dollars and the end result is simply mind boggling

great post by the way