Don Miller Trading after dark.
- Thread starter Eddiefl
- Start date
"his blog was hot air.. never once did he post a blotter or even a chart of his trades for the day or why he took them.
the blog was just cheap marketing to suck in the suckers for his webinars videos and expensive training.
his jelly class is probably full up for the rest of the year so he doesnt need the blog for now, probably will start it back up when he is low on new suckers.
Yes, Don has a trading method where you potentially piss away your hard earned profits of the last 2 years in just one day (or completely blow up, who knows how devastating the next 10-Sigma event will be? Lets's be honest, Don was just lucky during the flash crash). You can manage your risk with size during normal times all you want, but this all is worthless if you can't or don't do it in extreme times (and these "Black Swan" events come more often than they should). Here you see a good example of someone who hasn't understood the true risk involved in trading (and btw this is a big difference to Poker).
I asked Don Miller for results from his actual account, never got an answer
A CON ARTIST "
http://www.elitetrader.com/vb/showthread.php?s=&threadid=202860
I did not misrepresent any information and was actually quite accurate in my recollection of his net profits per RT. Net profit of $5 would easily be eaten up by higher retail commissions and/or slippage in my opinion. I stand by my original post about being skeptical that his results are worthy of a course in trading to newbies. I still like Don as a person and respect the time and energy he puts into his craft. I have just always been skeptical of anyone that is successful trading that puts so much time into selling something to others. Maybe Don is the exception, I don't know.
If you think selling something is even close to be one of Don's main motivation, than you really havent got an understanding of his blog.
Hell he does two jellie things per year,,when he could do one every month.
He trades, he makes money trading, he donates money etc. Obviosuly this guy is not your run of the mill "trading guru"
EF
I didn't say he was like every other vendor because I do believe he actually does trade full-time and risks his own money in the market. However, he does also sell the Jellie material as webinars for $1500 a pop. It is not just the classes that he makes money off twice a year.
I completely agree with Blocklenders, because I can do basic math. Let's get the calculator!!
So a retail trader being able to completely copy his trading would have done $3.83 per RT. (5.58-1.75)
Now if we take into account that 2008 was an exceptional year for Don, that means that in the following 2 years he probably did less than half of that $5.58 per RT. Let's say he did 33% of his best year annually.
5.58/3 = 1.86
If I subtract the advantage of owning a seat, 1.75, we get a minoscule 11 cents profit per RT for the retail traider, again, assuming that the student is able completely copy Don's style.
I liked his blog, he is an inspiration, but I don't like his style and most of his student are not using his style and not making crazy profits either. I am more than willing to be proved wrong by evidence shown, if some of his students come forward.
Well, as the math shows, it is.... And an old argument is still a good argument, that couldn't be refuted...
By the way Don is a genius. He realized that 2008 was an outlier year that most likely won't be repeated, thus he went the education way, making sure that he will still make that cool 1 mill per year. Hats off to that....
So a retail trader being able to completely copy his trading would have done $3.83 per RT. (5.58-1.75)
Now if we take into account that 2008 was an exceptional year for Don, that means that in the following 2 years he probably did less than half of that $5.58 per RT. Let's say he did 33% of his best year annually.
5.58/3 = 1.86
If I subtract the advantage of owning a seat, 1.75, we get a minoscule 11 cents profit per RT for the retail traider, again, assuming that the student is able completely copy Don's style.
I liked his blog, he is an inspiration, but I don't like his style and most of his student are not using his style and not making crazy profits either. I am more than willing to be proved wrong by evidence shown, if some of his students come forward.
Well, as the math shows, it is.... And an old argument is still a good argument, that couldn't be refuted...
By the way Don is a genius. He realized that 2008 was an outlier year that most likely won't be repeated, thus he went the education way, making sure that he will still make that cool 1 mill per year. Hats off to that....
Has Don ever stated what he made in 2009 and 2010?
Because he is blowing smoke talking about 2008 all the time in his advertising.
Because he is blowing smoke talking about 2008 all the time in his advertising.
In 2009 he was posting his monthly returns in the blog until it slowed down to the point of obviously not reaching his 1 mill goal. I think he still did a very respectable 500-600K. He made up the missing part from the Jellies, thus he did make 1 mill, but including mentoring.
That 500-600K was on a 2.4 or so mill capital if I recall, thus the return on capital went back to his annual average of 30-40%. Very good if you have the capital to trade, but way less than his 216% (or whatever it was) in 2008.