Finally closing this dead end.

[qlai]

Are these courses seemingly sincere courses really all a scam?

It's only a scam if you let yourself be scammed ... The statistics are well known.

Here's my opinion of the type of players in this field:
A. Talented people with some poof of accomplishment - actively being recruited by top firms from prop to banks. Estimated success rate: 95%

B. Possibly talented people with no relevant accomplishments - may get into a serious prop firm, but most likely to end up in a educational/first loss kinda shops. Estimated success rate: 30%

C. The dreamers, the gamblers, the odds, and the curious - these people are basically taking the easy road ... Most looking for someone to just hand them the keys to success. Estimated success rate: 5%

Now, is it a scam to offer type C people a chance? I say, no ... Let the 95% pay for the other 5% to achieve their dreams.

It's very hard to admit to yourself, but it really comes down to this, imho:

“A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. That’s the kind of thing winning traders do.”
- Ed Seykota

 

[Handle123]

Even mentors with a consistent edge may not be able to teach it. There are people like Andrew Aziz who clearly have an edge, but the parameters to that edge can't be taught. They are completely hidden in the intuition of his mind and how he sees price action.

They can be understood, but it takes much experience to get to the point you would understand.

Learning to trade is very much like an hourglass, in beginning you don't notice much sand has come out by looking at the top, as time passes, eventually you see sand at the top vanishing. Intraday trading is by far the hardest way to trade, the risk to reward is the smallest and in my case inverse risking more than reward. Longer term trading has the greatest reward to risk and if you learn to hedge you can make 100's to 1 when you figure out how to get risk very low.

You make your own luck, most of my education been by myself, the first 10,000 hours I don't even remember was so long ago, some of my mentors were people hardly any one knew about and others were known but what they gave I learned long ago.

Took me 7 years to get consistently profitable, I never any more recommend anyone to go into intra-day, you waste away so many hours to learn and outside life vanishes. Better to do longer term or swing in commodities/hedged and have a life to enjoy.

Hey, you took a shot, now go a different direction in life and enjoy it.​

 

[Wide Tailz]

And actually if you are a frog, the best way to escape from the bucket is to leap out using your legs not paddling.

"The real money is in the main movements, not the day-to-day fluctuations"

 

[murray t turtle]

"up and down 20% in a month"
"funding has run out"
"negative impact on my life"

Sounds to me like you were probably very undercapitalized and taking wayyyy too much risk to compensate. In this situation, failure is practically guaranteed.

20% movement in 1 month is just insane. 2% per month is a good starting point. It is very hard to do this sustainably if you don't have a few hundred Ks to play with (IMO) . Good on you for realizing it wouldn't work, hopefully you got out before too much damage was done. You can always come back later with more money and a better plan.

%%
Good points cru c, I agree with about 95.777%, of that;
but UPRO did >> better than 20% some months. But as you noted, its insane to expect to do that every month.

I bought some strawberry/watermelon 8 packs/juice, if you like red liquid. BUT like the TX financial planner [CornerStone] said on talk radio/Point of View ; you never see in summer time an ant trying to cram a water melon down an ant-hole .LOL-true patterns,

 

[jonahern]

I have been immersed in trading for the past year....spending my days obsessing over patterns and strategies, instead of people and real life.

That's what I'm talking about!

 

[trader1974]

It's going to start the summer. Better spend the day on the beach.

 

[trader1974]

Sometimes the market moves randomly. So. You can not build a system. There is no system Do you want a system? When the economy is going well, wait for the market to fall. Then. Buy good companies and forget. Spend time with your family and friends.

 

[trader1974]

I do not know another way to be profitable. I am a very experienced trader. I know what I say.

 

[trader1974]

Another thing. Money does not give happiness. The cemetery awaits us all. Be Happy. Enjoy life

 

[cruisecontrol]

Sometimes the market moves randomly. So. You can not build a system. There is no system Do you want a system? When the economy is going well, wait for the market to fall. Then. Buy good companies and forget. Spend time with your family and friends.

I do not know another way to be profitable. I am a very experienced trader. I know what I say.

You just told us that your only edge is buy the dip and hold. Sounds to me like you aren't a trader at all, but more like a value investor.