Have you used dbphoenix's teachings to become a successful trader?
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LOL... I would love if just one day, someone who is profitable went into a chat session with me and either let me see their screen or just over skype voice called out the trades so I could either follow along or take the same trade. Db said that I wouldn't have the balls to take a trade..... as if. I understand that posting in real time is time intensive when you're watching closely, so I in no way expect someone to post a message here to ET, but over voice, its easy to say "long" as you click buy, or even say "long at 4200" if you put in a stop limit order. And if you're out 15 second later... just say "flat". If you re-enter, then its also easy to say. I doubt I will get this, but the offer is out there to anyone profitable who trades the NQ that I'm more than willing to through with this exercise (it of course provides nothing for you, just me... so I realize this is a long shot). I just want to see what a successful person does in the moment, how long they hold for, how they sit through chop, how quickly they exit, etc.And you too, be careful if your guru wants to tutor you one on one in a private chat
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The fund i use to work for would stake a trader with millions if they were able to prove their edge. Dozens from elite trader tried for the funding--- NOT One. Even with back tested results were able to replicate what they claimed or even what their records showed.
Thats my truth. so these claims are ridiculous but i still want to believe surf
Thats my truth. so these claims are ridiculous but i still want to believe surf
I done this a few years ago with a trader from trade2win. He was brilliant.
He really disliked all of these 'coaches' charging people money, or the gurus who could not deliver in real time and were only comfortable with posting hindsight charts at the end of teh day.
He called his trades using the voice function in a free paltalk chatroom for the better part of a month. Made good money every day. Even showed his live broker account screen etc.
Complete transparency.
He was a maths whizz with all kinds of letters after his name, and had worked as a risk manager for banks and his method was all programmed and more or less automated. I don't think his method was anything particularly close to what the rest of us try to do (technical analysis, price action / charts etc)
Was fun to watch and copy his trades (US equities)
None of the big talkers on this site will ever trade publicly in such a manner. The reason why should be obvious. Because they can't actually trade.
The right way to go about this is get to know people who are actual traders. Get on a plane and go to a major financial center and get to know some prop traders and institutional traders. Learn as much as possible from everyone. See where that takes you. If I could do it over again that is what I should have done when I started out.
The right way to go about this is get to know people who are actual traders. Get on a plane and go to a major financial center and get to know some prop traders and institutional traders. Learn as much as possible from everyone. See where that takes you. If I could do it over again that is what I should have done when I started out.
One guy out of 10o's past the test. His edge was legal but inaccessible to most anyone else. This is what put the price driver idea in my head. Not to mention put me on the mission to find market truth. Search & Destroy false gods.
surf
surf
I was introduced to trading by a 21 year old trader who'd made nearly two million dollars (liquid) in a single year...which happened to be the year we met. He attributed his method to simple trend channels and support/resistance plays. He used complicated math for position sizing and risk management but his analysis for anticipating trends was that simple. He told me that there were four books that were the basis of his analytical system. 1) Stikky Charts 2) The Technical Analysis Course 3) Trend Following (Michael Covel) and 4) Tape Reading & Market Tactics. There were some other books that dealt with psychology and macroeconomics that he recommended to me but those listed were the main ones.
I began to read the Technical Analysis Course and asked him about some of the indicators and to my surprise, he told me that he didn't use those because he didn't think they were necessary. I thought he was BS'ing me until I studied Wyckoff. The guy was making 5 figures a month yet I thought surely it had to be more difficult. After reading Wyckoff, I saw that he wasn't misleading me at all.
I know another guy who made close to $5 Million last year and he trades pure price action.
All of that being said, I don't know DBPhoenix's record but I've met some incredibly successful people who use the same methods and since I took on the same approach, I've done much better.
I began to read the Technical Analysis Course and asked him about some of the indicators and to my surprise, he told me that he didn't use those because he didn't think they were necessary. I thought he was BS'ing me until I studied Wyckoff. The guy was making 5 figures a month yet I thought surely it had to be more difficult. After reading Wyckoff, I saw that he wasn't misleading me at all.
I know another guy who made close to $5 Million last year and he trades pure price action.
All of that being said, I don't know DBPhoenix's record but I've met some incredibly successful people who use the same methods and since I took on the same approach, I've done much better.
edges , are either gaining an advantage or are exploitable ,, hence a real edge should work all the time (cashloophole).. if it doesnt ,it isnt an edge...
and i highly doubt that any retail joeshmoekitchentabletrader is capable of exploiting an edge
due to lack of resources and funds... therefore no edge in the retail world exists.. maybe just maybe u might find an edge with some sort of bucketshop brokerages.. on delay latency quotes
but then why the hassle if that bucketshop goes belly up so go your funds....
and i highly doubt that any retail joeshmoekitchentabletrader is capable of exploiting an edge
due to lack of resources and funds... therefore no edge in the retail world exists.. maybe just maybe u might find an edge with some sort of bucketshop brokerages.. on delay latency quotes
but then why the hassle if that bucketshop goes belly up so go your funds....
You should become very good friends with that guy who made $5 million and ask him to mentor you. Not many people have that kind of opportunity, if indeed he is legit. If he is, he is very rare.