I am a new trader and I enjoyed it, the first part of the system broke it down to the basic which alot I all ready knew, however it also made things clear to me that I was a little fuzzy on. The course is very basic. All the information presented can be easily obtained for free elsewhere. So, if you have money to burn and you are curious by nature, then go and buy it. Otherwise, there is no reason to. In all fairness, Bill's "system" is quite good because it covers a lot of basics that newbies like me need to know in order to even begin to understand the world of forex trading.
I give him 4 stars because I felt that his treatment of the material was, though quite slow and avuncular, accurate and honest as far as it goes. It would probably be frustrating for someone who already had a lot of experience with forex markets but for me it was just what I needed at the time and I do appreciate it. He also has a habit of repeating some points for emphasis and again, I'm sure some folks find that annoying, however it has the effect of reinforcing the material that helps one to retain it and I found that very helpful when I was practicing my trading technique because I did not have to refer back to his material.
It was easier to remember because of the way he presented it. As for whether it is value for money, I believe that it would be difficult to find a course that gives you such a thorough intro to forex basics PLUS gives you techniques and methods that you can actually test and see that they WORK! What I liked most about his website, is that everytime I went to close it out the deals got better and better everytime.
I was laughing pretty hard. At the very last gimic, all they wanted was my e-mail address to send me his other "genius" trading system. I agree with Brian. Forex nitty gritty is hopelessly basic, and it exploits the ignorance of beginner traders. He uses very basic things, for example a manual trailing stop, and he calls it the "Risk Eraser", to make it sound special. This is not a scam, but it is highly expensive, for a basic trading system.
He tells you not to trade when adx is below 30! That is stupid, I can make large gains, trading ranges. Please take my advice and find a mentor, like I did, I won't say the name because I don't want to seem like I'm plugging their course, but It's the only way to succeed as a long term trader.
Save yourself alot of money and avoid Bill and other system sellers, you will be glad that you did: A friend gave me his copy of Nitty Gritty for me to review.
It is the same old stuff Poulos has sold before, just made over with a glossy new title and angle. His systems are marketed to beginner traders. He typically pads each system with tons of beginner material I do like that he teaches good things and his information is generically accurate in my opinion. BUT he is a marketing machine. That is not a scam but it is expensive! However, in 4 to 6 months time he has a "new" system ready to be marketed all over again.
He can never really show you a long history of successful trades through his real account. If it is sooooooooo good, why doesn't he just trade it? Because it makes him money! Rumor has it he sells at least copies. I do not blame him for doing so. Also, rumor has it that he does honor his 'guarantees' of money back. I have had the chance to first hand review and learn 4 or 5 of his last "systems". Nitty Gritty is really pathetic. Just take the time to learn Support, Resistance and Pivots with ADX and also learn proper risk management all skills needed by a real trader no matter what.
If you learn those things, you will have the exact same contents of Nitty Gritty basically. Worse, he claims to provide a full fledged system for you to trade. That is kind of true. Very misleading though and I doubt the average novice would be able to handle the Forex market well with the generic method he lays out. Poulos is a marketing machine.
Now his son Greg has joined him. On one website, Greg claims he had no luck trading so he scoured the world to find the best traders available to learn from them. Well, why didn't you start with your daddy? Poulos is a business. I do not think he is a scam. I just think he is about selling product whether or not it works or has value. I read through all its video.
It is more suitable for very beginners but also much too brief. Some explaination were too brief without much depth. I personally felt that it is not value for money. I asked for refund. Live discussion Join live discussion of ForexNittyGritty. Video Your company video here?
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