Your post was a thoughtful 1st post.
Most systems fail because of frictional costs e.g. commissions and selling on the bid and buying on the offer.
Keep at it till you develop an edge which makes money.
Here's what happened after i buy course from Scott Phillips
- Thread starter Ates
- Start date
Most systems fail because of frictional costs e.g. commissions and selling on the bid and buying on the offer.
Keep at it till you develop an edge which makes money.
filiprr do you think it was worth the money you spent, even though it didn't work for you?
I've been on his email list for a while, but have never spent the money for any of his systems because I'm not sure if it's worth it... and I'm also not ready to trade full time either, so I know I wouldn't give it the dedication it deserves. But I'm curious if you got enough value out of what you were able to do.
I think it all depends in how far are you in studying trading. If you are a beginner, you will have dificulties to understand. If you have a couple of years of studying under your belt, you will better understand. For me it showed me that scalping maybe is imposible for a retail trader to be profitable mainly because of the commissions. Understand that you pay the same commission for 1 lot, no matter is you trade it in the 2m chart or the daily chart, but on the 2m chart you might go for a couple of pips and on the daily chart for >100pips, which makes a big difference paying the same commission.
I also confirmed for me that making very detailed spreadsheets is important to become profitable. It is necessary!!
It also made me realize that big edges probably do not exist, that the edge you can have over the market will be rather small, and therefor you should not invest more than let s say 1 % on a trade, because the risk of having several losses in a row is there and it will happen and if you are too agressive you will have bigger drawdowns, which is bad.
Personally filtering all the bad information you can find on the internet, I would be more than happy with having an average of 2% gain a month. If I could get 4% that would be extraordinary, but I try to stay with my feet on the ground and being realistic. Well, that is just my opinion...
I also confirmed for me that making very detailed spreadsheets is important to become profitable. It is necessary!!
It also made me realize that big edges probably do not exist, that the edge you can have over the market will be rather small, and therefor you should not invest more than let s say 1 % on a trade, because the risk of having several losses in a row is there and it will happen and if you are too agressive you will have bigger drawdowns, which is bad.
Personally filtering all the bad information you can find on the internet, I would be more than happy with having an average of 2% gain a month. If I could get 4% that would be extraordinary, but I try to stay with my feet on the ground and being realistic. Well, that is just my opinion...
He posts his alleged track record in comments on here (through March 2023). Has anyone followed him closely enough to confirm or deny it? I tried posting it (Google Sheets) but it won't display on here.
Scalpius Trading Reviews | Read Customer Service Reviews of www.scalpiustrading.com (trustpilot.com)
Scalpius Trading Reviews | Read Customer Service Reviews of www.scalpiustrading.com (trustpilot.com)
Thanks. And a spreadsheet alone isn't proof. He could be cherry-picking his better trades or just making them up. Does he show a 3rd party audited track record of his performance?
He says his strategy is an improved/modern version of trend-following. The old trend followers (like Turtle Traders) used mechanical systems with clear rules. It sounds like his method isn't clear. And if it's up for interpretation, everyone may get different results.
I tried to look at his website and malewarebytes popped up with thisscott@scalpius.net
http://www.scottphillipstrading.com
MORE INFO
About
Subscribe to my messenger, and I will show you the exact rules of the trading systems I use every day.
I'm a professional trader not some kind of scam "trading educator" and serious traders will benefit.
Not for beginners.
I spent most of my life an unrepentant junkie and career criminal. A complete scumbag, actually.
In 2006 I kicked a crystal meth habit in jail and decided I wanted to change my life, and become a professional trader. I devoted my genuine best effort to it, and managed to lose money consistently for 5 years, until I developed the systems I use today.
I discovered that 90% of trading advice was either too general to be of use (the trend is your friend, let your profits run), completely wrong, or lacking in real evidence. I discovered fake gurus and trading teachers who could not trade themselves. After a lifetime scamming I know scams when I see them.
Fuck those guys.
I put in my 10,000 hours and then some, and I have legitimate skills. I'm determined to help all those who want to transform themselves into winning traders, and I can stop you from making many of the mistakes I made.
I'm a purely systematic futures trader and I design positive expectancy trading systems. I blog at http://www.scottphillipstrading.com
Website blocked due to reputation
This is the first time in the many years of using malewarebytes that I have seen this.
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