Alan Rich also known as 'Naz' has been a US day trader using both charts and a level 2 screen to make his trading decisions throughout the day. He also trades the UK and US markets in longer time frames, has authored a number of popular training CDs and lectured on trading at Guilford University as well as a large number of trading shows and seminars.
Alan offers two different 1-2-1 courses for people with different levels of online trading experience. Each course comes with notes, lunch and e-mail back up afterwards. A small part of each day will be instruction on live markets.
I had been trading for a couple of years beforehand and wanted to see some of Alan's Level 2. The day was a mixture of Level 2 Nasday entry and exit and some chart patterns. I can best describe him as a mixture of Sid James and Dell Boy - his teaching abilities may be limited and I wouldn't call it a course but rather a good opportunity to meet a professional willing to share his time but the principles he teaches are solid. He's also very good at finding out what level you are at and will recommend the appropriate strategy for you to follow.
Trading doesn't have to be rocket science, good money management is obvious once it is shown, stock selection can be, 'like picking cherries' (which is what Alan does). Good trade management is probably the hardest part, but Alan Rich shows you how and only you then can make it work (discipline).
The question as to whether or not his students are profitable or not won't, IMO, won't tell you anything useful viz a viz deciding whether or not to take the plunge yourself. Even if ALL his respective students to date are millionaires through trading his methodologies - it doesn't mean you will be too. And vice versa, of course. This is because Naz teaches how HE TRADES HIMSELF. This is in capitals because it's an important point and one that is often overlooked. He doesn't teach his students how to trade, he teaches them how HE TRADES HIMSELF. Alan is highly skilled, immensely knowledgeable and, I believe, wealthy as a result. This makes him qualified - in my book - to teach. Moreover, he's very open and candid about what HE DOES IT. During his live trading section he took 8 trades and after 55 mins realised $2000 profit. Whether or not you can duplicate him, is another matter entirely.
That said, ALAN has been - and remains - influential in the gradual process of discovering the type of trader I am and getting the best out of myself. You probably want to know if I'm consistently profitable? Well, I do make a modest profit, but as I've already made clear, this in no way reflects the quality of Naz' and teaching.
Alan Rich can show you what to do to trade the Nasdaq, but the most important part IMO is not on the screen (that's just the mechanics) ...just bear in mind you are not 'Alan Rich' and won't be for a long time , if ever , make sure you get that firmly lodged in your expectations so you remember afterwards.. .
I've benefited from spending the day with the guy, but I have noticed that other folk have different views and you will have to make your own mind up , but for me, It was money well spent. If you want to learn more about his courses visit his site at http://www.alanrichtrading.com/
Alan Rich has also written a book about Trading the Nasdaq. In this book, Alan explains how he got stated in trading and why he likes to trade the US markets using level 2 to help time his trades. He reveals the secrets and methods that he uses to trade the Nasdaq for a living and explains how you can trade profitably using his methods... check it here -> Trade the Nasdaq
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