In response to the many inquiries about PTS, here is . . .
PTS Up Close
PTS began in 2002 when Dr. Mel Raiman developed a trading (timing) platform for a New York City hedge fund. The fund was trading a $100 million dollar account and wanted something very accurate. It was decided to abandon all the traditional trading indicators and adopt something entirely new, the statistical measurement of price movement. Although PTS incorporates cutting-edge technology, traditional chart patterns stand out on the PTS platform. Traders have a number of additional benefits:
- PTS can be used for all trade styles from position trading to day trading and scalping.
- PTS can be used to trade stocks, commodities, Forex, and options.
- PTS is precise and allows traders to be on board for the bulk of a move.
- PTS allows the trader to accurately judge how big a move will be. This is critically important for money management. Before entering a trade, you will know your risk-to-reward ratio.
- PTS shows critical support and resistance areas and is perfect for setup work (see: PTS Setups).
- PTS shows the odds of success prior to taking a trade.
- PTS can eliminate most head fakes.
- PTS gives signals and trade confirmations in real time. There are no lagging technical indicators.
- PTS gives entrances and exits and shows the trends as well as support and resistance areas in multiple time frames--as well as price action.
Why the Course?
After developing the software and the trading system, it was given to more than a dozen traders. What happened next should have been expected. They needed help--lots of help--hundreds of hours on the phone. In the summer of 2003, after a survey of hundreds of active traders, a course was planned for the following winter. We've been running the course regularly ever since. In keeping with its roots in mentoring, nothing is ever charged at or after the course for either the software or continuing support through an active message board, frequent email updates, telephone coaching, and access to the graduate section of the PTS web site. The course is offered three times a year since Mel earned his living as a full-time trader. The fee for the facility based course is the lowest of all the 2-day trading courses, $1295. (which includes materials, on-going support, and meals) as compared to as much as $2,000 to $5,000 for trading courses. The Web based course tuition is $1195.
Who Attends the Course?
There is a broad mix of experience among attendees. There are new traders or traders who have been disappointed by other software programs. Many attendees are people attracted to trading by the potential income and freedom from 8-5 jobs. You will also find retired, or about to retire professionals who wish to have a second career or to have a source of supplemental income. There are investors, long-term traders, swing traders, and many active day traders. For the past year, there have been an increasing number of money managers, brokers, fund managers, market makers, and specialists taking the course. The PTS trading platform is the most effective available and the word is spreading. All courses for the past five years have been fully enrolled.
What is taught at the course?
Before using PTS, or anything system except a black box or stock-picking service, there is no substitute for understanding the basics of trading. The course addresses the key points and skills that you must understand and develop before becoming a successful trader. These include money management, how to set stops, how to track sector rotation, how to trade the daily pivots, understanding where and when the big money will come in and support your trade, how to use direct access and Level II, how to use the pre- and after-markets, how to interpret the news—and much more—information usually taking 5 years or more to learn if you are just starting out. All of this information is continually related to the PTS platform which is where you are going to be making your trade decisions.
How does the software work?
PTS gives the software to course graduates rather then sell a download or a recurring monthly fee. PTS has been pre-installed on 3 different charting packages (The pros-and-cons of each is addressed at the course). There are two major advantages for you. Obviously, you save a great deal of up-front money by not having to purchase software. Secondly, you have complete flexibility in setting up your software. You can adjust PTS to fit your monitor, for example. You can even use multiple monitors as many PTS users do.
PTS is a multi-chart system using between 8 and 12 charts depending upon your trade style and is used successfully for position trading, swing trading, day trading, and scalping.
PTS indicators are based upon statistical algorithms (you do not have to understand statistics) that measure price movement in multiple time frames. At the course, you will learn how to interpret the platform for precise entrances, and understand how to time your exit. The platform accurately shows what you can expect from a trade before entering. This information is invaluable for setting stops and for evaluating your risk-to-reward ratio. (PTS uses this information in developing its weekly stock picks. The PTS indicators can be used to manage large accounts. A fund in North Carolina using PTS is up 58%, not for the past year, but for the past quarter.
Here is what you will see when looking at a PTS chart. First you will notice volume bars. Aside from a price line, that is the only traditional indicator. Everything else on each chart revolves around a five-line grid that we call a channel. The channel indicates statistical levels or probability. For example, if you are about to scalp a long from the top of a 5-minute chart, your odds of success are 5% or less. Put another way, the odds are 95% that you will experience a retracement; you might even have your stop hit. The channel, or grid, is sometimes flat, and sometimes will slope up or down. If you are looking at a longer chart such as the day, and it is sloped up, that indicates that the stock is in an uptrend. If the price is at the bottom of the channel you are looking at the possibility of buying a dip. This is a little simplistic since the trading system involves the evaluation of multiple charts, we build much more on this basic concept. There is more. Moving across this grid is the price (shown as a line), as well as two other statistical indicators that provide bias, moving risk, and projected price movement. This is called the envelope.
You will actually be evaluating about 8 indicators on each chart when making your trading decisions. This is a two-step process: first, deciding if this is a long or short, and second, timing your way into the trade. The first step takes the average PTS graduate less than 4 seconds. When you look at PTS charts, the trade possibilities are very obvious. Timing takes a little longer. The experienced trader can usually complete the whole process and be in a trade in less than 30 seconds. The PTS platform makes the identification of chart patterns such as trend lines, reversal patterns, head and shoulders, and cup and handles, extremely easy to identify (this is also taught at the course), and even shows chart patterns such as the compression and bunny that only show up on PTS. The platform is the focus of a comprehensive trading system which includes developing your trading plan, interpreting news, reading the markets, following sector rotations, and much more.
How large is the class?
Facility courses have a minimum of 15 attending. We cap enrollment at 50. Instruction is conducted using multiple, commercial, high resolution, rearview video projection. The instructor uses a wireless microphone.
What kind of support can I expect?
After the course, you will receive an invitation to join the active PTS Message Board. You will also receive the password to the graduate area of the web site where a large amount of resource information is available. You will also receive support through emails and phone calls (on our dime). Basic software and trading questions are always answered at no charge to you.
Other frequently asked questions
Q - When is PTS going to be in my town?
A - All facility based courses are held in Atlanta, Georgia, or Orlando, Florida. Many Europeans attend PTS Courses and find both location convenient. The majority of U.S. states are represented at each course.
Q - Can I get the PTS software ahead of time?
A - Only for Web Based Courses. For facility based courses the software is distributed to attendees on the first day of the course.
Q - Can I join the PTS Message Board before the course?
A - You must be a graduate to receive an invitation to the message board.
Q - Can I have some phone numbers of graduates?
A - We cannot release names or phone numbers of PTS graduates. We would rather you read what graduates have written to us by accessing the following link: Comments from Course Graduates. You can find even more answers to your PTS questions by visiting PTS FAQS If you have other questions, please feel free to contact Mike Misunas. Please include your phone number if you would like to receive a phone call. PTS was not founded as a commercial enterprise; we are ready to help you achieve your trading goals through training and the best software available to trade the markets.
The next PTS Web based Course is being offered on March 24 & 25.