Manning Advanced Training Seminars
3 day course at the Meridien Hotel, Picadilly 8th, 9th, 10th April 2000
If you are a regular trader looking for strategies to reduce the bite of your losses and increase your gains, then investing in Chris Manning's Advanced Trading Seminars may well be worthwhile. The seminar is split over three days and is packed full of useful advice and tips from how to screen shares for your watch list to how to read the indicators on your charting software. There wasn't much time to go into the theory behind the strategies being promoted the emphasis being on the amount of testing to prove they work. We were told to take the strategies away and test them ourselves, a handy bit of advice for any trader.
The seminar was clearly focused on the computer literate, with even a specification for the laptop required. Lists of web sites were given out for online brokers, fundamentals analysis, news sites, charting and real-time quotes. Trading online, according to Chris Manning is the only way to trade. Another trait of this course is its emphasis on US trading. The information, web sites and software are not as accessible in the UK, although these are coming in the not too distant future. Also the UK market is not as predictable as the US, and is, therefore, a more risky environment.
The first day consisted of an initial introduction to the seminar followed by Chris's Formula for Success. The main reasoning behind the formula is to identify how much money you can afford to trade, verify which companies have the strongest track records, select one of the strategies learned on the course, implement it with discipline, limit your losses by knowing exactly when to buy and sell, test your system and refine it until it gives you the returns you require and finally compound your gains. Easy enough until you realise how much research and book reading is required to find out which companies have the strongest track record and which strategies work and how to implement your strategy. This is one of the strongest elements of this seminar, the work has been done for you. Digest the manuals supplied on each day and you will have a thorough understanding of what to look for and how to implement your knowledge to make the best returns.
Before even beginning to look at companies and share prices, however, you will need a broker. The alternatives being a full service, via the telephone broker or an online discount broker. Lists of both were given though these tended to be US brokers. A list of UK brokers was drawn by asking the audience. After giving alternatives on brokers the focus switched to fundamentals. This was were the course came into its own. The focus was not on what are fundamentals or why do we do this analysis, but fundamentals are essential, here are the things to look for and what thresholds to set in order to screen companies. From what was implied, the research into what fundamentals to look for and the limits to set was painstaking and tested thoroughly although once again, we were invited to test this for ourselves.
Day two began with a look at charts. According to the course once a company had been screened then the share price is scrutinised via charts. Charting software was compared with pros and cons for each type, although once again the emphasis was placed on US software for US trading. The most popular software was used for demonstrations. Once again the indicators to look at and the patterns to decipher from the charts were listed and clearly explained. On almost one/two pages everything to look for regarding charts was listed and illustrated. Examples and additional notes were also given in a clear and precise manner. As well as looking at the charts associated with companies with strong fundamentals, companies with trading news can also be examined via charts. One of the strongest points of day two was how to look at charts and find patterns that tend to push the price up or down. Different patterns were illustrated and the buy and sell moments clearly marked. The explanations were clear although the booklets didn't detail the why only the when. Note taking is essential if you need to understand why things work as well as when and how. The only drawback to note was the volume of information being given did not allow time to practice the new skills learned.
The third day started with a close look at the exact moment to buy and sell. The indicators that predict buy and sell moments were again clearly illustrated. The number of indicators examined is huge. The idea being to pick one or a few that you feel comfortable with and after testing use them with discipline following any rules/advise given. The remainder of the day was used as a live workshop. The US market as a whole was analysed and then individual shares on the US market and the UK market. The UK company examples being picked from the audience. The final piece of information being Chris's own watch list of high-tech companies in the US market.
On the whole this seminar was excellent. Chris Manning himself is a talented speaker. His enthusiasm for the material is apparent as well as his in-depth knowledge. He is a very motivational speaker. Although not for complete beginners the course itself is easy to understand. Even for those who believe trading to be an unfathomable art, the methods are easy to implement. The only comments to be made are that to attend this seminar and gain the most from it, you will need to be a regular trader daily, weekly or monthly trading techniques are highlighted more than a buy and hold strategy. This comment leads to the fact that in order to trade with regularity the amount of money available to you to trade must be a fair amount. Lastly the course is geared towards trading in the US but the strategies can be applied to the UK. By using the strategies and technology available in the US even if it is only paper trading will allow you to be well ahead of he game when the UK reaches the US standards. All in all for the serious trader this course is of excellent value. The course booklets are a gold mine of information and are not static documents but constantly updated and reviewed to ensure at the time the information is the latest available.
Janine Gratrix
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