I second this... might be most sensible thing you ever read
)
Agreed. Useful observations from the outside if you choose to confront your ego.
Agreed. Useful observations from the outside if you choose to confront your ego.
DionysusToast
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Honestly - the farce never stops does it?
All these guys making 1000's of % and they all seem to be very unhappy unless they are helping others.
A lot of Mother Theresa's around here, aren't there?
There certainly is a lot of 'altruism' amongst Dante & co...
DionysusToast
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I got a preview of BlackBisons "$2000 to $1,000,052.56 in 5 minutes a day. George Soros has nothing on me" training course.
Chapter 1 - "How to follow Trader_Dante's calls"
Highlights
- logging on to the intereweb
- Internet explorer vs firefox
- How to properly fit your headphones
- two finger trading - one finger over buy, one finger over sell, ears pricked
etc.
Chapter 1 - "How to follow Trader_Dante's calls"
Highlights
- logging on to the intereweb
- Internet explorer vs firefox
- How to properly fit your headphones
- two finger trading - one finger over buy, one finger over sell, ears pricked
etc.
BlackBison
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Honestly - the farce never stops does it?
All these guys making 1000's of % and they all seem to be very unhappy unless they are helping others.
A lot of Mother Theresa's around here, aren't there?
There certainly is a lot of 'altruism' amongst Dante & co...
I don't think you would describe me as altruistic if you could see my rates :cheesy:
Thanks, this is hilarious.
BlackBison
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Its Friday night, someones got to lighten the mood- Dion as usual sounds like hes just had a hernia
montmorencyt2w
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Its Friday night, someones got to lighten the mood- Dion as usual sounds like hes just had a hernia
1.08 am? Shouldn't you be spending more time with your account balance?
Its Friday night, someones got to lighten the mood- Dion as usual sounds like hes just had a hernia
Well, maybe he did. For him, it's breakfast time, Saturday morning, in Thailand, or another oriental landmass, so that's understandable. What's hilarious is a +32%/Dec return guy proposing coaching/training on a retail site primarily used for entertainment. Again, thanks for the ents. Enjoy the weekend!
Honestly - the farce never stops does it?
All these guys making 1000's of % and they all seem to be very unhappy unless they are helping others.
A lot of Mother Theresa's around here, aren't there?
There certainly is a lot of 'altruism' amongst Dante & co...
Whilst the % return sounds impressive, I would certainly hope that vendors had more than £1,000 in their starting accounts - that was very surprising to me.
I can understand helping others if it's to give yourself more discipline, ie by feeling responsible for their money, you make yourself a more consistent trader as you don't call out revenge trades, etc. But even that is not an altruistic reason.
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trader_dante
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What was surprising about it? It's a model account!
Most people that start learning begin with far less than this.
In my opinion, better a vendor shows an actual performance (with statements) of returns from a balance this small than says...look what you can make in £'s (without mentioning that they have a balance of £50k to start.)
Fair enough then, I just figured it was your personal account from the way it was written
Out of interest, from your time at a prop shop, did you get any guidance from the prop shop or was it all "here have a seat and work it out". I just get the impression a lot of them are happy to charge you a lot just to sit there every month and if you don;t have a successful time, then it's goodbye and give our money back time
trader_dante
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Fair enough then, I just figured it was your personal account from the way it was written
Out of interest, from your time at a prop shop, did you get any guidance from the prop shop or was it all "here have a seat and work it out". I just get the impression a lot of them are happy to charge you a lot just to sit there every month and if you don;t have a successful time, then it's goodbye and give our money back time
I personally didn't get formal guidance but I didn't go down the same route as most. I was rejected initially for the "training" element of the course and then sent them a rather bolshy PM (on T2W actually) saying that I had gone away, learnt to trade and had a performance record to show them. They then immediately backed me which meant I circumvented the training part of the course.
Once I was in, I had rather "informal" mentoring from the Chairman who was a huge government bond trader in the 90s and seemed to take me under his wing. This, combined with some friendly (albeit stern) advice from the Managing Director and a regular dose of didactic humiliation from the Director gave me an invaluable learning experience.
Watching and conversing with the profitable traders, also taught me a great deal although this was more about the correct attitude and mindset more than strategy.
As far as I know the grads that get through the interview process are given "classroom training". This doesn't provide them with a "strategy" it simply gives them an overview of the marketplace. e.g. the technicals, the fundamentals, how to read the order book etc. Then it is a case of have a seat and work out a way to get profitable.
Having said that, they don't charge you. When I was there, the grads got about £400 per month (I think this was thought of as an "expenses allowance"). You only start paying desk fees when you are profitable so there is no cost to you other than opportunity cost - you could be somewhere else earning a wage.
Again, when you leave, there is no need to pay anything to the firm.
I don't think this is the same for all prop firms but it was definetly the case with the one I was at.
montmorencyt2w
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How much time were they giving people to get profitable before they started dropping hints about that desk being needed for someone else, at that time?
DionysusToast
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What is surprising is that you need a 'model account' in the first place. Really, what kind of nonsense is that? It's a means to an end.
Actually BlackBison took $2k - $60k and was a 'pro poker player' before turning his hand to trading.
Of course, we'll never be quite sure why a 'pro poker player' only had $2k to start with.
T2W really is a scammers paradise.
DionysusToast
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Indeed - cup of tea, a couple of blueberry bagles and a sit down to the latest knob who's realised the easy money in trading is in fleecing newbies.
Masquerade
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lol... DT.
DT.
trader_dante
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There is so much hypocrisy in your posts, the only person being fleeced around here is anyone taking the time to read them!
DionysusToast
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It's a nice try Dante - but if you are going to accuse somebody of something, then please be a tad more specific. Point out the hypocrisy. Be specific, we are all big boys here.
I know a mentor that actually trades decent size from his account. He's trading 20 contracts on the ES day trading, which I have seen him do many times and him swings trade 50+ contract positions too. He doesn't have 'model accounts', starting at $1k. There’s no smoke & mirrors there. I am fairly sure he’d laugh at the thought of it.
Look at BlackBison – you have mentored him, he has little experience and he has been taking your calls. What lessons has he come away with from your teaching? It seems the main one is that if you want to make money from trading, you’d better be teaching it to newbies on T2W. You must feel like Dr Frankenstein creating a monster like that.
Anyway - you guys keep up your 1000% return posts. They are most amusing.
I know a mentor that actually trades decent size from his account. He's trading 20 contracts on the ES day trading, which I have seen him do many times and him swings trade 50+ contract positions too. He doesn't have 'model accounts', starting at $1k. There’s no smoke & mirrors there. I am fairly sure he’d laugh at the thought of it.
Look at BlackBison – you have mentored him, he has little experience and he has been taking your calls. What lessons has he come away with from your teaching? It seems the main one is that if you want to make money from trading, you’d better be teaching it to newbies on T2W. You must feel like Dr Frankenstein creating a monster like that.
Anyway - you guys keep up your 1000% return posts. They are most amusing.
trader_dante
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LOOL!
The guy makes 17k in a month and he's thinking "Now what can I make on the weekends?"
I think the main lesson I taught him is, you can always do better.
Interestingly enough, I wonder what the variance in trading is like compared to poker. It's not unheard of for pro poker cash players to drop 60%+ of their bankroll before increasing it again and that's when they are playing good poker not making any mistakes
I did 30% in Jan too, maybe I can do 1000% by the end of the year
