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How I Trade For a Living
Started:August 30th, 2016 (10:48 AM) by rocksolid68 Views / Replies:48,922 / 662
Last Reply:November 7th, 2016 (02:55 PM) Attachments:94

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How I Trade For a Living

Old November 3rd, 2016, 03:55 PM   #591 (permalink)
Market Wizard
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
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Yeah...

@Rory ,my hopes are dashed too. Continued excellent job @Big Mike.

     
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Old November 3rd, 2016, 03:58 PM   #592 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
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unban him

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Old November 3rd, 2016, 04:21 PM   #593 (permalink)
Elite Member
Luxembourg, Luxembourg
 
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Inletcap View Post
Seems he really moved quickly to go from a struggling trader, to passing a combine, through funded trader prep and traded enough as a funded trader to open a real brokerage with enough $$ to hold multiple GC contracts overnight along side ES and CL positions... I've been around this industry for 2 decades and I must say this is quite the turnaround.

I would say that it is not impossible but it is improbable.

I never investigated his claims of success, but I did attend his trading room twice. Seemed like a reasonable guy and before reading this thread I would have voted to unban him. However, the quoted text above makes a very convincing argument to keep the ban in place. Even if he was trading successfully for these last couple of months, then it is still quite a stretch to call this "trading for a living". Unless he had decent backing (which could be possible), there is no way he would be trading for a living after only a couple of months - that type of ROI is only possible in hindsight.

No offense meant to those who voted to unban Alex, but what is the point of learning from someone with that limited experience? @bobwest showed a link to @Big Mike's thread - I spent a lot of time going through those posts in the past and will do so again after seeing Bob's post. There was quite a lot of quality information there, but best of all, it comes from a source that I would trust.

Edit: Link to where posting in Big Mike's thread started again - https://futures.io/elite-trading-journals/1415-big-mike-s-day-trading-method-advice-81.html#post445615.


Last edited by grausch; November 3rd, 2016 at 05:18 PM.
     
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Old November 3rd, 2016, 04:45 PM   #594 (permalink)
Elite Member
san diego
 
Futures Experience: Intermediate
Platform: FXCM MarketScope, NT, Interactive brokers, AMP
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I don't see much conflict here, because he has a website independent of futures.io, so the traders who want to join his room can do so. And it's free. If he starts charging you can just leave. The real issue here is whether Big Mike wants to lend his reputation to this enterprise.

My only experience with trading rooms was many years ago I joined EOTPRO. They claimed that they had a neural net program which chose the correct locations, and the room was designed to shadow trade. This was before I knew any better. I lost $1000 taking his exact trades. And I don't even know whether he was trading live. Probably not. The moderator was a frustrated comedian with the gift for gab. But he couldn't trade himself out of a paper sack.

I think this is the underlying characteristic of a trading room. My impression of these rooms is that the people who join them want to be entertained. The moderators have exceptional marketing ability, but are poor traders. As long as people want this, others will try to provide the services. And it appears to be profitable. For me, I prefer to trade in silence. If I want comedy I will buy Laurel and Hardy DVDs. It's much cheaper. What I saw, with the room at issue, is that he bought and doubled down against a raging bear trend from the open. A rookie mistake.


Last edited by jodistrict; November 3rd, 2016 at 05:15 PM.
     

Old November 3rd, 2016, 04:56 PM   #595 (permalink)
Market Wizard
Saskatchewan
 
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Inletcap View Post
Oh man, I sincerely hope you don't feel this way about @Big Mike and our community. I feel we have the finest place to come together on the web and Mike is charged with doing what he can to share his opinions yet be open minded to others strategies and ideas. This is what brings us all together and his policing is done to help keep us safe. I wouldn't want the job. Mike has demonstrated that he's a stand up guy with strong morales who has to draw a line in the sand that's often subjective- his efforts give us what we have here and I am very appreciative.

Well said and handled that like a champ

Sent from my SGH-I337M using Tapatalk

     
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Old November 3rd, 2016, 05:43 PM   #596 (permalink)
Elite Member
State College, Pa U.S.A.
 
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Wow


rwbil View Post
It never ceases to amaze me how asking for actual proof of claims in the day trading business is an "EVIL". No other business operates this way. And lets say the regulators finally decided to regulate this industry. What do you think the first thing they will ask for; Brokerage Statement for proof.

And to top it all off this kid was associated with Global Trading Room. If that does not say something I do not know what does.

As for BM. He is providing a forum for these vendors. Let me ask you do you think NT should be held responsible for the people they let promote without checking any credentials what so ever. I do and I hope the regulators finally crack down and we will see. I have NO doubt BM knows Al Brooks and these other Micro Scalpers are scammers, yet he gives them credibility by allowing then to put on webinars. In fact he once called out the Rock Star Journals, which were all fake.

With Emmett's site the truth is finally being told about these scammers and the regulators are finally closing them down like Open Range Trader who posted all fake results. And sadly he was not the exception in this business.

If someone thinks some 18 year old kid who shows no proof of trading profitable is going to teach someone to scalp ES profitable, then they are the fool born every minute.



Big Mike has created this forum (in my opinion) to further the trading world for the good and tries to shield traders from parasites that exist in the trading world. I sincerely believe he is helping people get and share information, techniques, advice, experiences ect.

As with anything there must to be rules to abide by and someone has to enforce the rules. Sometimes I disagree with some of the decisions, but I believe Big Mike makes the decisions by following these rules and input from the community in a fair way.

I certainly wouldn't want to have the job of policing the forum, Kudos Mike!!

     
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Old November 3rd, 2016, 06:09 PM   #597 (permalink)
Membership Temporarily Revoked
Baltimore MD
 
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trendisyourfriend View Post
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2 can play this game.

Ban Him:

https://www.youtube.com/watch?v=wjCo-Fsbknw

Darn I was hoping the video of Moses being Banned would be embedded. How did you do that?

     

Old November 3rd, 2016, 06:11 PM   #598 (permalink)
Market Wizard
Austin, TX
 
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rwbil View Post
2 can play this game.

Ban Him:

https://www.youtube.com/watch?v=wjCo-Fsbknw

Darn I was hoping the video of Moses being Banned would be embedded. How did you do that?


     
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Old November 3rd, 2016, 11:56 PM   #599 (permalink)
Elite Member
Toronto Canada
 
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LOL


Rory View Post
If the camel gets his nose in the tent, his body will soon follow.

as the old proverb goes.

OMG Rory thats the funniest thing i have heard all week.

Another funny thing....how could a relative minor teach trading to others some who may have clocked years ....10,000 hours. You know...the 10k hours that makes you a better trader.

Just a side note....Alex has never seen a bad GDP report drop the ES 20 points in the blink of an eye.

He was still in grade 8 when fukushima melted. He was barely out of diapers when 9/11 happened. He missed a couple of wars and WMD announcements.

Don't you have to be experienced to teach others?

If that doesn't matter maybe we should all charge $427. Hell we have experience - we could prolly get $10,000.

     
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Old November 4th, 2016, 04:06 AM   #600 (permalink)
Elite Member
Salt Lake City, UT
 
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Something just does not seem right

1.) why buy gotomeeting when with a little looking around you can do it for a lot less if not free
2.) why is his picture on that teachers site?
3.) why does his dad's name keep coming up?
4.) how can someone blow two accounts and then a few months later be utterly successful?
5.) and why do I feel for him - is that some institutional group trying to manipulate my thinking or is it real?

If this was a question about taking a trade or not taking a trade - I would not take it.

I do like the idea of a temporary ban; Just in case it's real and he is as pure and genuine as he comes across.

If it's not real, well only time will tell. But if it's not real, the group behind him would seem to have the means to overcome and be back on FIO as some other newbie and try again learning from the mistake of showing their cards.

Oh and please no one be bashing my idle Al Brooks - if you want to learn to read a chart, read his books multiple times cause that's what it takes to start to understand what he genuinely offers. I am not affiliated with him in any way, but I have personally met the man and was a member of his site when it first started up. I do not trade like him, but I sure did learn a lot from him. If you think he makes a lot of money off selling books, you should do your research on the profit margins in that business for the authors.

As stated many times in this thread, you need to think for yourself. If what someone offers you does not work, do not use it. If someone offers to make you wildly successful, it ait true, only you can do that. Yet, people are people, do what they do. Here's an interesting concept; If you are a successful trader, who is funding your profits? Is it the other successful traders? I don't think soo......

I vote for temporary ban with restatement (if that is an option)

     
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