Michael Parness Review

nancy,  clemson

Posted at 3:50pm on Thursday, July 2nd, 2009

if it sounds too good to be true, it probably is bogus!!

djhbutler,  Los Angeles

  Posted at 12:37pm on Thursday, July 2nd, 2009

I ordered and read Michael's book...I found it insightful and helpful though not the be all and end all of trading...but it is a very helpful tool along with hard work. What I have noticed about the critics below is not one of them comments on Michael's particular ideas but in general on the notion of a guru...not very substantive criticism in my opinion.

Mark,  Scottsdale

  Posted at 6:25pm on Monday, June 29th, 2009

This guy is just a sales idiot. Anyone that sends him money should be shot. How can you possibly watch those commercials and take this moron seriously? Unfortunately he probably made his last $1 mil on this and not trading.

Alessandro,  Europe

  Posted at 2:53am on Friday, June 26th, 2009

I just checked his page Trendfund.com. Forget it. But his book Rule the freaking markets is really good and very helpful.

Alessandro De Sica,  Location unknown

  Posted at 10:52pm on Thursday, June 25th, 2009

Hello,
I am not a Trendfund-Trader and I think I never will
be, but the only thing I can say is that I read the book Beherrsche den Markt, the german title of Rule
the freaking markets, and Parness tought me nearly
everything I need to know about trading. I trade warrants. I am not a fan of his homepage.

Ciao from Europe.

Alex,  Illinois

  Posted at 12:48pm on Sunday, June 14th, 2009

Thanks James from NC,
I bought BCA on 3/9/09 at $3.50 and sold on 5/11/09 at $13.15 and C at 1.15 on 3/6/09 and sold at $3.37 on 5/12/09. I invested $25,000.00 total for both positions, my return is exceptional.

You have to focus more on positive and only be aware of negative, then you will see the result that will make you happy!
Not everyone like to be Tiger Wood or wnat to be a Tiger Wood, investment as well, you need to learn to acquried workable knowledge and apply in a positive fashion.

I have my own rules, if I expcet stock to move up or down or side way, and if not move in direction as plan in three weeks, I will be out buy lower limit or miss direction time out, and if it move in prefered direction, I will stay in for maximum of 90 days!!

For pepole those who's have a bad experienced, may want to be more focus on positive information!

Alex, Illinois

Anonymous,  Location unknown

  Posted at 1:04am on Thursday, June 11th, 2009

the guy is a crook.

Jaime,  Seattle, WA

  Posted at 9:03pm on Saturday, June 6th, 2009

Has any guru ever made riches doing anything they preach about? I'm pretty sure these guys dress up nice for their infomercials so that you think they're rich when you sign up for their "free" trial.

Ever wonder why you can only pay the $6.95 shipping & handling on "free trials" via a credit card? These companies don't profit by selling books containing helpful advice from gurus. Nor do they profit by offering free trials where the shipping rate is far above a reasonable amount.

The real money they make is by charging peoples' credit cards in the hopes the person won't notice in time to charge it back, or by signing up those individuals who aren't bright enough to see through this and end up joining a subscription plan. Regardless of which guru you choose to get bilked by, you can rest assured that ALL of these "free trials" are offered as a means to enroll your credit card into a monthly program that bills automatically.

You might notice a random charge ending in $".95" two d... read more »

Thomas B Lighthouse III,  LBI, NJ

  Posted at 3:25pm on Friday, June 5th, 2009

I have been a stockbroker, investment adviser and/or financial adviser for going on 53 years. Anyone who submits to you that the services referenced here are positioned to assist you have either been fooled, are part of the 'service' or are confused about their unrelated investment successes. Betray the lazy and misguided and educate yourself ... for free. Read, study and KNOW your investments. If options are your game and you like a short gut iron condor, master the inputs (company & market dynamics) of those involved and understand as much as fruitfully feasible concerning the betas. Anyone who proclaims to have reached a position of success here, in this chat, has done so not through the referenced tools, but through hard work and many failures / varied experiences.

Dummies,  Who Cares

  Posted at 11:24am on Friday, June 5th, 2009

Hi folks. I turned $1.43 into $30 million in just 17 minutes using my top secret (and very proprietary) trading methods. Why practice the tried and true approaches (of those like Warren Buffet) when you could be like me … a winner, on a secluded beach (with gorgeous women and tasty drinks) surfing the internet on my I-phone!!! For just three easy payments of $199.99, I will teach you how to be a market winner!!! Sound a bit pricey? After you float through my training seminar, your first trip will be to your local farm market where you will invest $49.99 in a BRAND NEW wheel barrel. Your next step will be to execute a few transactions as outlined in my tutorial. Your final step will be loading your BRAND NEW wheel barrel full of gold bars, coins, very large (are rather rare) stones and gems … not to mention cold hard cash (space permitting)!!! Sounds easy … and it is. Come on folks. Join me? In the time it took me to write this comment (read advertisement), I could have turne... read more »

jim,  mccans

  Posted at 6:52pm on Wednesday, June 3rd, 2009

How about automated trading. Turned $1,000 to $1M in 10 years! Up over 1,000% in 2008 not too shabby.

Dan Duckworth,  Tempe AZ.

  Posted at 10:57am on Saturday, May 30th, 2009

All you negative Nancys can kiss off. I'm trading successfully using the tech. in waxies material. It's real simple. figures don't lie and liers don't figure.

Vic,  Iowa

  Posted at 2:55pm on Monday, May 11th, 2009

I have NEVER seen one of these "experts" advice work yet. Why would he want to make us all so rich if he had some proven secret method that actually worked? He will get rich alright, off the people he dupes into his program. Folks, there's NO free lunches so quit looking!!

Stan,  Minnesota

  Posted at 9:34am on Saturday, May 2nd, 2009

While I encourage people to educate themselves, learn about markets, learn about investing, etc., there is one important fact that should be glaringly obvious: there is no foolproof method of stock trading. How do we know? Because foolproof means it can't lose, and therefore people employing a foolproof system would be on Forbes list of richest Americans. There are no stock traders on this list (there are stock investors like W Buffett). If any trading system was "can't miss", these geniuses would be on the list. They aren't. Trading is fun, but don't bank on making an easy fortune. Look to the real legends for sound advice: Buffett, Lynch, Templeton, Graham, Philip Fisher.

Pro Trade,  NJ

  Posted at 11:49pm on Sunday, April 26th, 2009

I find it amazing that after 18+ years of trading SUCCESSFULLY (prop in all time frames) that people will buy and subscribe to all forms of "WEAK" information about the markets. The technical analysis in virtually every book, except a rare few, repeats itself, the authors have rarely traded or have had to make a full time living out of it. My Challenge: Take any analyst, any sales trader, many prop-traders at firms and set them out on there own, and I can with a good deal of confidence say they will not be making the same cash as if they were with a firm. Why? they have no salary, bonuses, med benefits and there own money is on the line! Not the large amounts of cash firms can supply! Want to experience stress and truly test how good you think you are? GO for it! There is nothing wrong with writing newsletters and good websites, but are rare. Do you not think most of these so called GURUS make most of there income from selling their goods? Thank you to those TRUE Pros who know what the... read more »

james,  nc

Posted at 4:37am on Friday, April 17th, 2009

SORRY I MISS SPELLED THE STOCK SYMBOL I BOUGHT IT SHOULD BE bac not back sorry good luck to everyone

jAMES,  NC

  Posted at 5:09pm on Thursday, April 16th, 2009

All i know is I bought back at 2.68 and sold 11.21
my account went from 25k to 105k in less than three months and i just bought some aig at 1.24 a few days ago and it's already up to 1.69 up about 42k on this one. buy low sell high i'm out at 2.15 on this one good luck to everyone

Matt,  Utah

  Posted at 7:24pm on Thursday, April 9th, 2009

Anyone who thinks they can read a book (any book) and become rich is an idiot! It takes practical application, which also means practical knowledge. If anyone can tell me a better way than by one on one coaching go ahead. You fools that doubt this are obviously hurt because of your losses and wont change to make it better. You can think about it all day. But until you DO something about it, you will never change. Michael and his staff of coaches are incredible. It works. Be teachable.

Ed,  CT

  Posted at 7:48pm on Wednesday, March 25th, 2009

Obviously some of these posts are from his flunkies....this is total crap.

Zach,  Long Beach, CA

  Posted at 5:22pm on Thursday, March 19th, 2009

I ordered the trend trading book for $6.95, now I get calls trying to sell me the coaching program. The program is $10k - $15k.

Kumara,  Fremont,CA

  Posted at 8:02pm on Wednesday, March 11th, 2009

for me most of his option pick were winner and very few loser.. i started with investment of around $5000 in January and now sitting around with $16500. Dont know and dont care really whether he made $7million, but the success rate of his options were amazing. I would also recommend angel pub for those for who are interested in option trading. They are very conservative than Michael's but very good..

sonny,  pa

  Posted at 11:11am on Tuesday, February 24th, 2009

I took his ninja and option trader trial ....guy is not human ..almost every single freaking cal worked . Its scary how can he call the markets with that kinda accuracy

Nick,  Los Angeles

  Posted at 6:15am on Tuesday, February 10th, 2009

I've read only one of Michael Parness's books but have been a Ninja Trader at Trendfund for many months during which I've received hundreds of stock and option plays through his e-mail messages and chat room service. His performance during this time has been absolutely phenomenal, so much so that at times I've wondered if he's really human. He has given me and his other subscribers winning trade after winning trade allowing us to make a great deal of money at a time when almost everyone else has been losing money. Please don't think I'm being paid by him to write this because I'm not even sure he knows who I am.

This man is the Tiger Woods of trading! He may make an occasional bogey but his birdies and eagles far outnumber them. Somehow, someway he's developed an incredible ability to call markets correctly. In fact, if I chronicled here all his winning trades for just the last 6 months, the list would extend off the page. I haven't been able to trade all of his recommendations beca... read more »

beachguy,  southbeach

  Posted at 2:59pm on Monday, February 9th, 2009

to ; day trader X...
what charting platform you use??

Korey,  SLC

  Posted at 11:36am on Monday, February 2nd, 2009

To everyone one of these people that are calling him a fraud and a scam artist. Pull your head out! Just because you’re not as successful as Michael and because your deals have not gone through doesn’t mean you need to attack him. Everyone knows that you reap what you sow. Michael did, and I was also one to reap what I sowed. Along with thousands of others. Don’t be bitter. Michael you ROCK!!

John,  Illinois

  Posted at 6:06pm on Tuesday, January 27th, 2009

I saw a commercial by Parness and wanted to do some research. I read everyone's posting here. Thanks for some really good postings. I have a couple comments and one question.

I was contemplating that in order to turn $33K into $7 million in 15 months, that is about a 21,000% return in 15 months. (Please forgive my math is slightly off.) I am glad to hear whenever anyone does well for themselves. However, I would find it hard to believe that everyone can get a 21,000% return on their money by reading Parness's books and watching the dvd.

I would have to agree with Rourie in Birmingham, AL. If I had a system that could turn thousands in millions consistently, I would keep quiet and turn the $7 million into $300 million.

After reading A Booth's in Las Vegas, NV post, I was surprised to read that there are coaches that work with you. My question is this, if these coaches are teaching you how to turn thousands into millions, why don't they trade themselves instead of workin... read more »

bk,  texas

  Posted at 1:01pm on Saturday, January 24th, 2009

I also used his service for a few weeks several years ago... I found out he was front running many of picks. He would issue an alert with a price that was 20 minutes old and have all of his "trading room traders" enter the same stock... It's not hard to make money if you buy a stock and then 20 minutes later 200 or so others buy it on your "recommendation", artificially drive up the price several cents for a short time...

Trader Boy,  ATL, GA

  Posted at 7:46pm on Friday, January 23rd, 2009

Trading any market using any financial instrument successfully is difficult;that's why it can be so lucrative. After ten years in varied markets, I've never stopped learning. My number one lesson..."There are NO shortcuts!" Beware of those that make claims to the contrary.

S P,  california

  Posted at 9:53pm on Sunday, January 18th, 2009

I was in his chatroom over 10 years ago when it was called Trendfund. They didn't help very much, I didn't see lots of plays, and some of the moderators were rude. I don't know if it has changed since then. I saw recently he changed it to Trend Trading to Win. Anyone in his chatroom currently and can offer reviews and insights?

hubby,  san francisco california

  Posted at 4:45pm on Friday, January 16th, 2009

I bought the book and the introductory course as I was fascinated in learning how to trade stocks and followed his web site. I joined the trading group, the cheapest one and I couldnot make any money following other people stock recommendations. I did however learn about the 10 oclock rule and some basics. I donot think I can make millions reading the book itself.

ohio Mike,  ohio

  Posted at 7:29am on Wednesday, January 14th, 2009

To Day Trader X

What Charting Platform are you using??

Setting stochastics @ 14,3,5 ?????

Thanks.

Day Trader X,  Sunshine State

  Posted at 10:14pm on Friday, January 9th, 2009

A waste...just get yourself a good charting platform, set a 15 minute chart, set your stochastics at 14,3,5 and just buy when the fast line crosses above the slow line and sell vice versa. Also day trade one stock and get to know it like it was your spouse. All of these fools going in and out of different stocks all day long. Just pick one, master it, and use it as your printing press for cash.

Rourie,  Birmingham, AL

  Posted at 1:25pm on Monday, December 15th, 2008

Okay, here is how it goes. You see, this guy Parness turns three thousand bucks into seven mill in two years. So, what does he do? Quits it all, and goes into book writing, investment seminar writing, investment newsletter writing and publishing. Why? So he can make your rich!

Now, here is what any rational human being would do after turning 3000 bucks into seven mill: keep quiet, shut up, and keep doing it, maybe turn the seven mill into, say, 300 mill.

Most people don't realize that writing and publishing books, newsletters, and investment advisory services is an entirely different business from actual investing.

PJ,  San Jose

  Posted at 1:15pm on Tuesday, December 9th, 2008

There was yahoo ad, which M, Parness made thousand of dollars and promoting his brilliances/product. I bought the book, however I end up paying more then initial as you need a CD and that cause another $10bucks to complete the training from book, plus shipping etc.
I received a call from one of his worker, as I was going thru foreclosure/bad time, this guy took advantage by promising what I can achieve potentially without paying a single cent, if I commit myself to his program. At that momment I was so stressed up and wished for some way I can change my financial luck, so I agreed to accept his help, all he need is how much money I can use or invest to double my investment. I had $3000 in savings and he ask me how much credit I have in my credit card, I had $20K then. He promised if I commit to the program I will tripple the money in a short time..I was excited, once he knew about my excitment, my call was transfer to some other guy, who requested for my credit card number. When I ask... read more »

Bill,  Florida

  Posted at 1:45pm on Sunday, November 30th, 2008

I'm watching Parness' basic training videos now, and frankly they are very much in line with what successful traders do. I think the communication skills of his team are limited, but they definitely know what they are talking about.

But I also think the thing to realize is that it takes years to build an understanding of the history of specific equities, commodities, and indexes to be able to move rapidly on opportunities. So a new trader is likely going to fail for a while if they try to lear on their own. I say this having been a series 4,7,8,and 24 broker for 6 years- and having traded over $100m of securities in my career.

I think that the smart new player begins slowly and trades on obvious plays like positioning to take advantage of window dressing. New guys who rush in will probably get hurt regardless of who trains them.

Schippi,  Hawaii

  Posted at 11:27pm on Wednesday, November 5th, 2008

Comments about Michael Parness ( 11/04/2008 )

I have only read his published works and have not bought any of his courses or materials. I have been an active investor for decades and my take on trading the current market which is characterized by historically extreme volatility is that the Day-Trading approach which he advocates is the only way to win and be able to sleep at night. As an example I scored monster gains all day on the election day rally and sold everything just before the close. This left me in a perfect position to again score on the next days big decline. It does not get any better than this. My congratulations to Parness and I hope he continues to spread the word.

Schippi

Fred,  NYC

  Posted at 11:30am on Thursday, October 23rd, 2008

This guy is a scam artist. Rule of thumb: those kinds of returns (a) don't exist, (b) misrepresent future earnings potential in an effort to sell a book and a CD, and (c) are mass marketed which by definition means its unworthy. This joker runs around the Upper West Side of Manhattan, apparently, living large off idiots who buy his CD.

Snake65,  Bay Area

  Posted at 1:07am on Wednesday, October 22nd, 2008

Sorry everyone. Please stay away from this guy!
His advice is mediocre at best. Books such as: "Beginner's Guide to Day Trading Online" by Toni Turner is a much better, more thoughtful resource if you are just starting to get your feet wet than "Power Tradng Power Living. Parness' tips and ideas are just too simplistic. I have been trading for years and it's not easy, especially in these markets which have zero predictability and major volatility.

larry,  si ny

  Posted at 3:54pm on Thursday, October 2nd, 2008

First of all as a trader you will never earn that type of money trading in stocks. Trading in options forex or futures you can make it big. I been trading for years an only the pros trade options, futures an forex.

kotting,  california

  Posted at 11:34pm on Friday, August 29th, 2008

Beanieville is much better trader.

Jan T,  Sweden

  Posted at 3:52pm on Monday, July 21st, 2008

Hi James,

Perhaps you can share those 'few basic trading concepts' with the rest of us?

If you share, I'll do the same!

James,  New York

  Posted at 11:04am on Sunday, July 20th, 2008

First of all, I highly doubt this guy turned $33k into $7 mil by trading ALONE. I think he did turn his initial account into $2 mil by getting lucky betting HEAVILY using options in the bull market of the late 90's. HOWEVER, the other $5 mil came from people paying him $400 per month for his "wisdom" by subscribing to his BS website.

Remember for every guy that got "lucky"...and that's all he was, "lucky" there's 1,000 that lost everything. He's no genius and his entire methodology is based around a few basic trading concepts which are no secret or magic formula.

All Waxie wants is YOUR MONEY.

TED,  VANCOUVER - CANADA

Posted at 12:34pm on Thursday, June 26th, 2008

Acording to Your information is excelent.
But Im in the same position IM NOW "O" CASH
LOST EVRY INVESTMENT. I DID TRADE 13 YEARS
NOW I DO HAVE NOTHING. TED KUC

A Booth,  Las Vegas, NV

  Posted at 7:30pm on Tuesday, May 20th, 2008

While his books were a little light on the meat and plenty of bones. The training I received from his program was amazing ! I am now a consistent trader only doing my trades in about 5 hours a week. The coach I am working with has tailormade a program to my style. I know have more tools in my chest and am now confident.