Don Miller...

[dv4632]

Quote from mfbreakout:

Last year I paid $1700 to hear recordings of his so called trading method which he shared with his first traders group. It was the biggest disappointment. It was basically a fire side chit chat. Lot of talk about poker, psychology etc.. but none in terms of set ups and execution.

Is that the Jelly webinars?

If so, that's disappointing to hear, but then again that's what all his blog posts are like.

I've always wondered why there are no current or former students talking about their experiences with his teachings. Those who bought the webinars, and especially those who were actually part of the live Jelly teams. Maybe he requires Jellies to sign some sort of confidentiality agreement....

 

[jmonday]

Quote from austinp:

fwiw: I think Don Miller structured the greatest self-marketing strategy this industry has ever seen: from day one in his blog until present... every minute of which was carefully planned and well thought out way in advance.

I think he can be hypocritical at times about the whole "full-disclosure" thing when no one in public has ever seen more than a glimpse of his personal trading results.

So that's part of what I think. I do think he has a right to espouse his personal religious beliefs any way he deems fit. I also think he trades real money in real time, which makes him part of our fraternal brotherhood.

And I don't think ANY serious trader would EVER wish for another to lose his/her account from circumstances outside their control.

I think that every single poster (with zero exceptions) in this public message board who is afraid to post real-time trade results are paper-trade wannabes whose opinion means less than nothing about anything else.

That's pretty much what I think

how about the 4k you lost the previous day? LOL

 

[austinp]

Quote from jmonday:

how about the 4k you lost the previous day? LOL

No -$4k days so far in 2011... although a fair number of + days larger than that.

This morning was a struggle: chopped hard in CL,-1000 there and quit.

Sold ES repeatedly and caught enough for +2000 / +1005 net

Maybe done for the day, will have one more look at 2pm for the final two hours.

BTW... how has your live trading fared today? Dare to share, or same as usual here?

 

[austinp]

Quote from SteveH:

FWIW,

Showing an NT price ladder that is not in sim mode does not mean that you're connected to a real account. For example, you can connect live to an IB sim trading account and the ladder will look like you're trading with a real account.

Smart people don't share statements of income with total strangers, unless they either have self-esteem / ego issues or are trying to use that as bait to get into YOUR pocket in other ways.

"Vendors" who don't show proof of trade results are labeled as frauds by the perennial losers here. But showing results is labeled as esteem / ego issues... which in truth is what those who make empty market calls for attention & praise are seeking.

So riddle us this, Steve... why were the P&L threads in this very site THE MOST popular threads, most hits for many years straight thru?

 

[startraitor]

If God fails doesn't deliver, go straight to a Hail Mary to the CME!

http://donmillereducation.com/journal/

 

[mfbreakout]

Quote from dv4632:

Is that the Jelly webinars?

If so, that's disappointing to hear, but then again that's what all his blog posts are like.

I've always wondered why there are no current or former students talking about their experiences with his teachings. Those who bought the webinars, and especially those who were actually part of the live Jelly teams. Maybe he requires Jellies to sign some sort of confidentiality agreement....

yes. he has recorded sessions of his first class. The year Don made $1 million or so- he traded 600,000 es contracts to do so ( i do not remember exact contracts he traded or money he made). His web site used to have these numbers ( maybe they are still up on his web site) but i am 100 % sure when i did the calculation ( assuming all of his trades were winning trades to get rough idea) it came out to be 6 ticks of gain per contract.

I asked Don about it. His answer was 1) He is a scalper on most of his trades. 2) His winning are more than 6 ticks. 3) His risk control is excellent.

In summary, from my perspective, making $1 million on 600,000 or so contracts is not a method i want to invest in.


Anyone interested in learning Don Miller method, the recorded sessions for which i paid $1700 is essentially Dan writings on his web site. Just read his writings.

Here is the trick. After one reads all of Don writings ( he is an excellent writer) one has bought so much into his BS, that spending 7K to learn the rest is just a logical progression. Disappointment comes, when after paying one realize that there is nothing new and he/she has already learned for free from his writings from his web site.

 

[jem]

Quote from austinp:

"Vendors" who don't show proof of trade results are labeled as frauds by the perennial losers here. But showing results is labeled as esteem / ego issues... which in truth is what those who make empty market calls for attention & praise are seeking.

So riddle us this, Steve... why were the P&L threads in this very site THE MOST popular threads, most hits for many years straight thru?

most of the guys on the p&l threads are not vendors.
Vendors who do not show P&L are frauds.

If you are really making profit trading and you showed live p&L based on live calls... your service explodes in subscriptions.

 

[r-in]

The reality is, if you don't think you can keep making large sums with your edge you sell your edge to make some more short term cash and then run away. Or you make up new phony edges to sell and keep doing so until know one buys anymore.
If you have an edge the reality is without modification it won't last ong term, so you adapt or die, or sell your current edge and pile in the cash. The hope is you can come up with something new to sell instead of make money trading, and that is where you become the snakeoil salesman(woman).

 

[jem]

Quote from r-in:

The reality is, if you don't think you can keep making large sums with your edge you sell your edge to make some more short term cash and then run away. Or you make up new phony edges to sell and keep doing so until know one buys anymore.
If you have an edge the reality is without modification it won't last ong term, so you adapt or die, or sell your current edge and pile in the cash. The hope is you can come up with something new to sell instead of make money trading, and that is where you become the snakeoil salesman(woman).

exactly. Its also a hell of lot easier to make money trading when you do not need the money to live.

I made a living for 5-7 years trading.. by having and edge and keeping my expenses low. It allowed me to let the the money accumulate.
As soon as I used some of my profits to buy a house and get married... I started to see my profits erode. my edge was eroding anyway... but to some degree I no longer had the flexiblity to adapt. I needed to make money not just scrape by while I was adjusting.


My business partner in the llc became a vendor... selling what was left of our edge. I invested my profits in real estate and did not get out in time... so I had to go back to starting a business.

I make more money now... but it is nothing like the love I had for trading full time.

 

[zerobank]

Don's situation reminds of an old folks tale.

Once upon a time, there was a milk vendor in a village. Every day he used to collect milk from villagers and sell in the near by town. He used to mix water in the milk for the sake of more profit, and sell the "impure" milk to gullible people.

One day, on the way back home, the milk vendor stopped by to sit under the shade of a big tree, next a river bank. He counted all his ill gotten wealth and decided to take a nap. Slowly he fell into deep sleep, dreaming about how to screw more people with his adulterated milk.

A monkey who lived on the tree saw the milk vendor counting his money, and sneaked down to grab the money bag and climbed up the tree. The milk vendor woke up and started shouting at the money, and also started praying God!

The monkey did not care. He opened the bag and started throwing one one coin into the river and one coin on the ground. The milk vendor was crying and cursed the monkey, but the monkey didn’t stop money distribution until the last coin in the bag. After completing the money distribution, the monkey left that place.

Few of the milk vendor's villagers were passing that way and enquired why he was crying. He explained all. They laughed at him and said “Look man! You have done immoral business. You mixed water in milk and sold it to gullible people. You should be glad the monkey left you with some money, which is probably what you deserved in first place any way".

Hearing the words of the villagers, the milk man realized his mistake and never cheated any one in his life.
-------------

The truth of the matter is no one benefited a single cent except from Don from all those stupid courses and jelly sessions. Basically ill gotten wealth.