Ten-thousand in Education and still not profitable! - futures io
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Ten-thousand in Education and still not profitable!


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Ten-thousand in Education and still not profitable!

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  #251 (permalink)
UK
 
Experience: Intermediate
Platform: Ninja
Broker: Mirus/Zen
Trading: Futures - bonds, currencies, index
 
Posts: 288 since Oct 2010
Thanks: 70 given, 270 received


Cloudy View Post
His last posts he said he was having success with cjbooth's method. Then he was integrating it with Perry's method and some of what he learned so he came up with his own system. It sounded like a change from what he was doing before i.e. the title of his thread. He came up with his own variation this time which was individually constructive. Although it has been more than a few weeks since he said he would be back to tell us how his new hybrid worked out...

Sometimes newly successful traders disappear and clear out of all forums i.e. they become too busy making money from their newfound golden goose.

So, the answer's in. He was blowing another 15k while developing and documenting the method he's going to publish and sell......

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  #252 (permalink)
desert CA
 
Experience: Intermediate
Platform: NT7, TOS, CQG-trader
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,130 since Jul 2011
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Xeno View Post
So, the answer's in. He was blowing another 15k while developing and documenting the method he's going to publish and sell......

Yes, I can't deny he did mention he blew a 15k account, sigh. I was hoping he had sustained profitability with his new method.

Bobby, were your losses using your new methodology , or was it experimenting? Have you been able to sustain profitability for some stretch of time, say 10 trading sessions or so? Are you planning to test out your new method showing it can achieve consistent profitability with a journal record, before publishing it?

Please don't put out a method that hasn't been proven. I'm just saying, and that's my sentiment. While a lot of vendor methods are surely scams, not all of them are. We've had plenty of proof of other traders on futures.io (formerly BMT) who are consistent traders and some are trading for a living.

Overall I just think you've had bad luck with vendors who turned out were not helpful to you in your initial $10k trading education expense. Maybe you missed objective reviews of the vendors or they were too good in hiding their scamming on the web. Anyways, good luck.

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  #253 (permalink)
Bala, PA, USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus, IB
Trading: SPY, Oil, Euro
 
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Posts: 1,858 since Jul 2010
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Cloudy View Post
...

Overall I just think you've had bad luck with vendors who turned out were not helpful to you in your initial $10k trading education expense. Maybe you missed objective reviews of the vendors or they were too good in hiding their scamming on the web. Anyways, good luck.

If you can't beat them... join them! It's a lesson from wgreenie of ezcolortrading

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  #254 (permalink)
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
 
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Posts: 2,547 since Jun 2010
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Cloudy View Post

Please don't put out a method that hasn't been proven. I'm just saying, and that's my sentiment. While a lot of vendor methods are surely scams, not all of them are. We've had plenty of proof of other traders on futures.io (formerly BMT) who are consistent traders and some are trading for a living.

I don't want to get into a debate here, but where is the 'proof'? I must have missed it...

Per Monpere... haha... Yes...

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  #255 (permalink)
desert CA
 
Experience: Intermediate
Platform: NT7, TOS, CQG-trader
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,130 since Jul 2011
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Well we've had Monpere, Sharky, Deucalion, and some others who said they make a living trading. A lot of former pit traders, or retired folks who invest in stocks successfully being introduced everyday on the "welcome to bmt" thread. And there was someone who posted broker statements saying she made $2k or greater a day. And then some vendor guests and their webinars like Futurestrader71 who stated they make a living from trading.

About Wgreenie. I thought it was a mistake she dismissed Al Brook's original book as just "dry". And ZCard kept recommending it. If she went through it and all the examples page by page, she would have a much better feel of market price action than what her free NT "price action" indicators and other lagging ones told her imo. Anyways, nomb and just imo.

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  #256 (permalink)
Chicago, Illinois
 
Experience: Advanced
Platform: Ninjatrader, TT, InvestorRT
Broker: Advantage Futures, Ninja/TT and InvestorRT/IQFeed.
Trading: Treasury futures
 
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Xeno View Post
So, the answer's in. He was blowing another 15k while developing and documenting the method he's going to publish and sell......

I thought the 15k was what he has blown altogether, not an additional 15k.

But I am absolutely stunned that he would have the audacity to sell whatever he has developed in such a short time. It means either he does not have the capital to trade the system himself, or more likely it is a bogus system in which he has no real confidence.

"You don't need a weatherman to know which way the wind blows..."
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  #257 (permalink)
Honolulu, Hawaii
 
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Posts: 2,547 since Jun 2010
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jstnbrg View Post
I thought the 15k was what he has blown altogether, not an additional 15k.

But I am absolutely stunned that he would have the audacity to sell whatever he has developed in such a short time. It means either he does not have the capital to trade the system himself, or more likely it is a bogus system in which he has no real confidence.

Audacity.

I am constantly stunned at Audacity of people trying to shop their wares at the benefit of strictly themselves, but there goes my "Judgement" part of my INTJ.. haha...

There needs to be an overhaul for 'educators' for the trading markets at least in the USA. They get away way too easily.

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  #258 (permalink)
Chicago, Illinois
 
Experience: Advanced
Platform: Ninjatrader, TT, InvestorRT
Broker: Advantage Futures, Ninja/TT and InvestorRT/IQFeed.
Trading: Treasury futures
 
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bluemele View Post
Audacity.

I am constantly stunned at Audacity of people trying to shop their wares at the benefit of strictly themselves, but there goes my "Judgement" part of my INTJ.. haha...

There needs to be an overhaul for 'educators' for the trading markets at least in the USA. They get away way too easily.

Oh, well. Caveat emptor.

"You don't need a weatherman to know which way the wind blows..."
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  #259 (permalink)
desert CA
 
Experience: Intermediate
Platform: NT7, TOS, CQG-trader
Broker: AMP, DT, TDA
Trading: CL,NQ,YM
 
Posts: 2,130 since Jul 2011
Thanks: 2,372 given, 1,710 received

This thread is a revenge-of-the-former-newbies against scam education "witchhunt". Now at 105,000 views, so maybe doing some good of warning unsuspecting seekers.
Forums - A list of all scam unregulated 3rd party educational vendors

And some recent "review" threads.

https://www.elitetrader.com/vb/showthread.php?s=&threadid=182218&perpage=6&pagenumber=13
http://www.elitetrader.com/vb/showthread.php?s=&threadid=182218&perpage=6&pagenumber=41
Forums - Why can no one suggest a real prop firm on this section of the forum

Interesting wiki article here:
https://en.wikipedia.org/wiki/Foreign_exchange_fraud

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  #260 (permalink)
new york
 
Experience: Intermediate
Platform: ninjatrader
Broker: mb trading
Trading: 6e
 
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Posts: 184 since Feb 2010



Cloudy View Post
Yes, I can't deny he did mention he blew a 15k account, sigh. I was hoping he had sustained profitability with his new method.

Bobby, were your losses using your new methodology , or was it experimenting? Have you been able to sustain profitability for some stretch of time, say 10 trading sessions or so? Are you planning to test out your new method showing it can achieve consistent profitability with a journal record, before publishing it?

Please don't put out a method that hasn't been proven. I'm just saying, and that's my sentiment. While a lot of vendor methods are surely scams, not all of them are. We've had plenty of proof of other traders on futures.io (formerly BMT) who are consistent traders and some are trading for a living.

Overall I just think you've had bad luck with vendors who turned out were not helpful to you in your initial $10k trading education expense. Maybe you missed objective reviews of the vendors or they were too good in hiding their scamming on the web. Anyways, good luck.

Cloudy, I blew a 15k account while building on the knowledge that led me to my current skill level. Over time, I have found that from an emotional level demo trading is not good enough to prepare you for the real thing, anymore than monopoly can really prepare you for the world of investing. For anyone that has found a method with a positive expectancy, and has demo'ed it for at least 100-200 trades with a fair net profit, I suggest opening a micro account and proving out your skills and your trade setup.

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