When did Mike become your teacher/mentor? This is a dangerous frame of mind for newbies, it is almost idol worship. The person with the most prominent status by default is the subject matter expert. Mike's opinions doesn't matter more then any others on this site. He could be the worst trader that ever lived, he could be the best. Regardless, that doesn't change the rest of the content on the site.
Mike could give you his trading method on a silver platter, which made him a gazillion dollars last year, it's very likely that very same method will deplete your account. The thing that makes Mike profitable or un-profitable is Mike. The thing that will make you profitable or un-profitable is you. So, verifying Mike's profitability is pretty much an exercise in futility.
What you should be doing is analyzing Mike's trading approach, and the other 1000 other approaches here, and determine what fits your personality, makes sense to you, resonates with you, and fits your psychology, regardless if the originator of the idea is profitable with it or not. When you find that approach, it will make you your gazillion, but not necessarily the next guy reading this thread.
For most of us, there are no shortcuts, you are going to have to go through those 1000 great trading ideas, and put in the 1000's or hours of screen time to hopefully reach the goal, and even then there are no guarantees. Hopefully, you'll get lucky and find your niche on trading idea number 3.
Last edited by monpere; November 21st, 2012 at 12:54 PM.
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truman2, you are very correct in that when we're considering plopping down a considerable amount of cash for instruction we should be more inquisitive; nothing wrong with that. It's just that this isn't one of those situations.
My concern is that you'll see everyone rushing to defend Mike and miss what's really important here and that is, that this is a great group of guys who are here to help whoever needs help. The advice, the programming and sometimes more importantly the ears are free. Nobody is saying you have to do this or that they're just offering up their conversation, time, effort and experience to hopefully help someone. And, you will most certainly learn something of value if you allow yourself to.
I encourage you to just jump in and start asking questions. Throw up a journal and let others offer what they will. You won't regret it. Eventually you will see the value and maybe become an Elite member. If not that's OK too, nobody is going to treat you any different.
@truman2 - I think the biggest problem with your question is that it is premised on the idea that you are going to learn to be profitable at trading by following someone or by reading posts on futures.io (formerly BMT). Certainly a true mentorship scenario is one of the best ways to learn trading but that is NOT because of the methodology being taught - not at all. The reason mentorship is so effective is that it forces accountability, adherence to discipline and risk management, and regular, systematic review of trading decisions. You may learn the importance of these things on futures.io (formerly BMT) - but you will not learn these things here, you can only teach yourself these things on your own because they are not facts, they are verbs.
The idea that you are learning something here on futures.io (formerly BMT) that will make you a profitable trader is false - you may learn directions to becoming a profitable trader, but, like it or not, you will need to walk that road by yourself. Big Mike, or anyone else save a true mentor (i.e., one standing over you day after day and forcing you to adhere to the points above), will no more be able to help you become a profitable trader than a road map will pick your car up and move it from california to las vegas.
This idea that some guru will come down from the internet clouds and show you the way is simply misguided - the quicker you learn that fact, the quicker you are on your way down the difficult road of becoming a consistently profitable trader.
Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
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it is not a dump question, it is question to test how much futures.io (formerly BMT) is useful?
And the answer is clear, next user will not ask it any more.
the info in futures.io (formerly BMT) may not help me to be profitable, but it is more than enough to prevent me from trading real money hence not losing money...it is worth much more that 50 buck IMO.