As regular readers of my reviews will know, I have previously published a number of articles focusing on physical trading courses, as opposed to online courses. Today, I’m going down the online route with a different content provider I’ve known for a number of years called The Max Trading System.
Full disclosure: The Max Trading System ETF Primer Course was given to me for free so that I could write this review. I approached them for a copy, rather than the other way around.
This course, albeit slightly unorthodox in it’s presentation (I’m not a tiger fan, but there is a reason behind it, namely that the guy who designed the course, his nickname was Tiger and he’s no longer with us) has been around for about 10 years and it’s still going. It’s operated in part by a guy called Craig Windham who is based out of Wyoming, and I’ve been dealing with Craig for several years through my other business venture.
The course is an online one obviously, so can be entered into by anyone anywhere in the world. There are usually a range of dates for an initial online webinar, which presents the trading methodology and gives some live, real-time trades which the viewer can see for themselves. This in itself is quite rare, as in my experience, the majority of webinars are conducted outside of live trading sessions and clearly the ability for a teacher to actually be able to do what they say is critical in the application of the theory. There’s a phrase in the trading industry – paraphrased from another industry no doubt – that “those who can trade, trade. Those who can’t, teach.” Sadly, I have found that phrase to be true over the years, from any number of courses, both physical and virtual – but Craig and his team seem to be the real deal,.
The course requires a Windows PC and MT4 to work. It’s based off a number of technical indicators which personally I am not a fan of (I’m more of a price/volume guy), but they do work for some people, even if it’s only confirmation of what they can already see in the aforementioned. In it’s simplest form, The Max Trading System is a pullback strategy which is relatively simple but often easy to screw up, partly because you never really know for sure if it’s a pullback until such time as it’s happened.
What is a pullback, exactly?
It’s what it sounds like. Price is either rising or falling, but of course it can’t continue to rise or fall indefinitely. At some point, the price movement has to cease, and price usually trades somewhat sideways for a time, often backwards to a point of previous supply/demand – before continuing on in the same direction as it was. The point at which price begins to move off again can be called a pullback.
If you’re a fan of Elliot Wave Theory (I am), then this pattern of price continuation should be familiar to you. If not, you might want to learn it because you’ll see it a lot in the markets. Briefly, Elliot Wave describes a series of price action movements which occur in ‘waves’ – a wave 1, followed by a wave 2 (pullback), then a wave 3, followed by a wave 4 (pullback) and a fifth wave. The third wave is often the strongest and the fifth fails frequently. Sometimes these waves need to be viewed in different timescales to see them, but they’re there.
After the Webinar
Of course, after the free webinar comes the sales promotion. This is the internet after all, and this is how things work these days. Present your product, for free and completely without catch, and allow your potential clients to decide for themselves as to what they want. And repeat.
The Max Trading System courses come in a range of flavours, depending on what it is you’re looking for. There are five modules to choose from:
Primer – $329. This provides an introduction to MAX trading, along with a complete trading system. It is designed as a very thorough entry level training for traders with limited funds, no success in trading, or for traders who simply want a good look at MAX before committing to the 7-week Standard training course.
Lite – $699. This is designed to take you a giant step forward toward the full MAX system. Even though a “lite” version, it is a thorough and intensive training, giving you the potential to effectively and confidently trade.
Standard – $2999. This teaches the essential MAX methods. The ETF-Standard Course is 7 weeks of intensive study, and requires a significant amount of study and practice.
SAM – $799. The series of trading techniques taught in the MAX ETF-SAM Course will benefit both the Standard and Advanced graduates. SAM works with Standard and Advanced techniques. It is heavily based on Price Action.
Advanced – $2395. The extra entry & profit protection techniques here give you the potential for capturing more of the trend. The trend reversal method will help you enter at the beginning of the trend. Currency correlation, ETF-Advanced Money and Risk Management, and News information work together for smarter trading.
The Max Trading System – ETF Primer
As I’ve known Craig for some time, I approached him and asked if he’d consider giving me the course content for free for me to review here on thearmchairtrader.com . Obviously, he was open to this approach which says quite a lot in itself. At the time of publishing this entry, I am starting a trading course chosen by him, but specified by me to be suitable for complete beginners in trading, because that’s often what we’re about here at AT. I’ll be publishing the actual course review and my thoughts as I complete the various stages of the ETF Primer Course, so watch this space for updates.