I'm a Trading Zoo member who migrated to Edge Traders. Except for a new website and some setup lingo, both courses are identical. I spent $6K, the new course is $6300. I wish I could say it was money well spent, but that would be a lie. I did learn a few things, but not nearly enough to become a self sustaining trader full-time.
Trading is a near impossible profession to make money consistently. Over 90% of those who try will fail and that goes to anyone who joins Edge Traders also. Most of the people who joined near the time I did are all gone having lost a lot of money following Sam's setups and guidelines. If you are one of the gifted ones, be prepared to spent at least 2 years losing money, even with this course. You have to develop a feel for the market almost like an intuitive behavior of any other animal who fights for survival and that is not something anyone can teach you.
As far as the course goes, Sam makes it look easy and simple, but the fact is it's neither. Most of the setups are contratrend, which is to say catching the falling knife or grabbing the shooting star and it's stressful as hell. Often times, we'll hear Sam say, "I need to decompress" because he had a huge position go against him and he mangede to get even through averaging down or up. And although Sam claims "tape reading" is the heart and sole of the teaching, it isn't. 90% of the training is identifying chart patterns with a 15 or 60 minute 152 candelstick bar chart. There is not one single person in that room who would even attempt to trade without having these two charts on their monitor. NOT ONE, including Sam. Tape reading or price action is a sexy phrase, but the fact is the tape moves so fast in realtime, no one could make head nor tail what it's means, including Sam. There are about 20 chart patterns and a few Fibonacci extensions and all the material is taught with pre-recorded webinars that are of dubious quality. There is very little time spent on tape reading and price action, even though this is the marketing hook Sam uses.
The advertised 80% win ratio is a dream unless you're talking about winning one point and not using any stops. Spending a week or two in the room during a trial isn't enough for anyone to confirm that and so the burden is on Sam to prove it to you with REAL BACKTESTED RESULTS. That in addition to at least 6 months of HIS trading statements and 6 months of the LONGER TERM MEMBERS (at least 2 years). This should be the minimal amount of due diligence before you spend money on the course. $6300 is a lot of money to a struggling trader and the truth is the chart patterns are not proprieatary despite Sam's claims to the contrary. The are books on chart patterns that have a great majority of these setups. The best advice I can give anyone considering this course is to get the statements and the phone number from the broker to confirm the numbers. It's too easy to make up fake statements these days, so do your homework. Sam and the members will first have to give written permisiion to their brokers before the brokers will disclose information to you, but don't let this deter you.
Be prepared for him to come here and say I'm just the same person who posted everything else... An evil ex-employee or whatever. Although I'm not that person, I don't care and neither should you. That's not what's important. What's important is getting those trading statements to make sure THESE PEOPLE EAT WHAT THEY COOK and your not getting hoodwinked. If they refuse, simply keep the money in your pocket.
Good luck, good trading and may God bless you all.
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