I have just finished a trading course called the MAX Trading System and decided to write a review. The review has been submitted to Forex Peace Army too, so should appear there soon. I have reproduced it below:
I took the July/August 2010 Max Standard course which finished (at the time writing) yesterday. This review is based on the course and not on the possible results – I have not traded this system live yet but wanted to provide a review of the course itself. I have taken many courses and have had a couple of mentors in my few short years as a part-time trader. I have had no success yet on a live account, so if you are looking for a gushing review where I can exclaim I have made millions with the MAX then this is not the review for you. I am keeping it real and honest. You can see my trading adventure at keymoo.info/trading
The course is 7 weekly sessions of roughly two hours via GoToWebinar. You can see the instructor’s computer and hear their voice, and can communicate with them via text chat. See the website for more details. I like the way it is structured because the course contains a vast amount of information and it is delivered in such a way as to build your knowledge from a foundation upwards, much like a building. Session 1 is purely discussing entries and the Max philosophy. Session 2 talks about stop losses and how to scale-in to a trade (a very important part of the MAX). Session 3 talks about some new indicators and how to exit and scale-out. Session 4 talks more on exits and some more indicators. Session 5 was quite illuminating as a non-lag indicator was presented which blew me away. Simulated trading in the MT4 strategy tester was dicussed. Session 6 was a review session and a couple more indicators. Session 7 was another review session and a long discussion on risk and money management. After session 7, an invitation to the members only forum was given, and invitations to scrolling parties, the application room and further training with the Advanced course. After every session homework was assigned and graded by Jerry – this is a very important part of the training, to ensure the knowedge has been received properly. This was done via a google group.
There are four people as far as I am aware that run the Max trading system. Chris, Craig, Eusebio and Jerry. Chris and Craig are the oil in the machine and run the course and I have to say it was very slick indeed with lots of attention from them. But the course really shined with the very experienced instructors, Eusebio and Jerry. They are obviously very experienced successful traders and they impart their knowledge clearly, succinctly and sprinkled with some humour. They really are a pleasure to listen to in the webinar sessions. What really sets them apart though is their obvious love for the subject of trading, they really love it. I asked numerous questions on the google group and on text chat during the sessions and the instructors were patient and clear in their explanations even though some students did get a mild scolding once in a while if they were not practising what they were taught, and I see this as a good thing. The instructors really cared about making sure that all students had learned the material. the level of attention from them was quite extraordinary.
The course is very intense and requires hours and hours and hours of HARD WORK. You must not have any preconceptions about a trading method before you go in. I have lost money in the past, trading indicators and I developed a phobia against them and wanted to learn how to trade using price action only. However, it took me a week or two of seeing the kind of results people were getting with the MAX to allow me to drop those preconceptions and allow the indicators in. The MAX’s power lies in reducing risk right down to a very low level, but at the same time allowing you to scale in to a trade when it is going in your direction. The result of this is a low risk, very, very powerful and profitable trading system. The MAX is however primarly a price action trading method, with the SUPPORT OF indicators – it is not an indicator based system. I did find the number of indicators a little overwhelming to start with but I’m sure I’ll get used to them the more I practise – my charts look very colourful indeed now, whereas before the course I would only have price and a few support/resistance lines and maybe an MA. I did find the audio to be bad from Jerry – but that could have been me. I suspect it wasn’t me because Eusebio and Chris were fine on the audio. Jerry’s audio was bad on the videos too, fading in and out. On the plus side I didn’t lose any information, it was just more effort to listen to Jerry because of the audio issues than the other instructors. Maybe Jerry should invest in a new microphone.
I was attracted to the MAX in the first place because I wanted to find a method that was not rigid based on absolute concrete rules and one that allowed me to scale in and out of trades. I really believe that the key to vast profits is to reduce risk by getting out of a trade early if it’s not going your way and adding to the trade as it goes in your direction. That was what I was looking for when I trawled the internet, and WOW did I find what I was looking for! This course is not for the lazy or people looking to become millionaires overnight. If however, hard work, perseverence, patience and discpline are applied, I’m sure the millions will follow anyway. Some people have whined about the price of the course, but I think it is extraordinarily good value for money. I will be practising what I have learnt over the next few months and will then look to go on the Advanced course early in 2011. If you are looking for a powerful trading method that works on any time frame and don’t mind some hard work, then don’t hesitate and book your course today.
If you would like a copy of a video introduction to the MAX, then let me know in the contact form, and I’ll forward it on to you. It is worth watching the video, believe me. UPDATE 17 Oct 2013: I no longer have this video or trade the Max. Please do not ask for it.
UPDATE: 31 August 2010
I gave the review on Forex Peace Army five stars, but it has come through unrated for some reason. Not sure why that is – the previous comment to mine is unrated too. Maybe their ratings system has broken?