Here's what happened after i buy course from Scott Phillips
- Thread starter Ates
- Start date
A lifelong criminal methhead conman is selling a trading system and people are actually spending money to learn and get his system based on his criminal record?
You just cannot make this shit up and still to this day people blindly wonder why people lose money in the market...
A fucking criminal conman is selling a trading system!!!!! I guess in one of his meth induced stupors he found the holygrail none of you can find out hahaha.
You just cannot make this shit up and still to this day people blindly wonder why people lose money in the market...
A fucking criminal conman is selling a trading system!!!!! I guess in one of his meth induced stupors he found the holygrail none of you can find out hahaha.
The chances are very very good of having 3 losing trades in a row.
Ates, will you be my benefactor? In order for MY system to work, I would simply need 3,5000,000 USD from you. Just futures, and GUT FEEL. I need 500,000 through 7 accounts to make my thing work, because that is how my head is working currently. Will you provide me with the capital? I'm earning dosh, dude!
https://www.elitetrader.com/et/threads/the-bs-sim-journal-add-your-own-bs.327728/page-7#post-4973528
Well this post got 5 likes from people that joined yesterday.
... Hmmm. What to say to that?
How 'bout.... Welcome to ET Scott.
Bro you just entered the Shark Tank. Wait till the locals chime in.
Edit... I'm only on page 10.... rotf... this is good stuff.
Edit 2..,. Uh oh... here comes Desty. Scott my friend.... you're toast.
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Hello,
You can find me here. I have been on the institutional side multiple HFs, alternative side of big mutual funds for almost 2 decades.
I usually think it is better to watch punching games from afar, but here is some perspective
I know Scott personally. I even stayed at his place in Bangkok. Watching him trade futures at 5 am in his pyjamas in his kitchen on a Monday morning is something i cannot un-see. 3 things that stuck with me about him:
1) his relentless dedication to the craft. Most pros learn the first 2 years and press the repeat button for the next 10. He is always looking for the next nugget
2) His meticulous record keeping. I have literally never seen such a complete trading journal, ever. Most pros vaguely look at their stats. He dissects them and his mental state ad nauseam
3) His integrity. Yes, he was on high carbohydrates diet for a long time, courtesy of the Aussie penitentiary system. Funny, but i would trust him more than a lot of greedy pros on the institutional side...
First of all, Scott, kicking someone in his pride and joy is the wrong way to make friends. Ates is a rookie. Be gentle with white belts. They don't understand tough love. They take it personal. Colourful insults is a national pastime on trading floors, think "Full Metal Jacket" with brains.
Experience: it took me nearly a decade to be consistent. It took me another decade to shed unprofitable beliefs. Amateurs roll in thinking they will beat seasoned pros in 3 weeks. It takes time, dedication, humility. So, Ates, I understand how you feel, but your impatience is misplaced. You don't waltz in a dojo and criticise the sensei because you can't throw a mawashigeri after 3 weeks.
When you trade someone else's system, you explicitly adopt his method and implicitly his beliefs.
When pros see 75%, most of them think too good to be true, what about the tail risk? When there is statistical evidence it works, they think Kelly criterion and position sizing. Pros are process oriented. Amateurs are outcome driven.
Win rate of 75%: when amateurs see this, it feeds their "need to be right" complex and fragile ego. They take losses as personal and/or system failure. In reality, either they did something wrong (you don't improvise yourself a disciplined trader), or it is simply a losing streak. I think that what Scott was rudely trying to convey was that accepting to be wrong is the key to making money on the markets and a palatable marriage
As for the cost, $200+ is less than the cost of one trade gone wrong! The tuition fee of trading w/o a system is much higher. Ates, I am sorry it did not work out for you. Next time, work on your beliefs and educate yourself before buying a course.
Good luck Ates! And Scott, you are a respectful person on the mat. So don't unscrew people heads, sh!t on the swamp they have for brains and copiously wipe your money-maker with their faces next time -
Who told you that i am white-belt? Or not profitable? I said his system does not work and it does not. He claims he's a math guy. Speaks about standard deviations and etc. And he knows them as well. But Bollinger Bands?
If you ask what's the probability of price being closed between bands when you use 1 std (instead of 2), he will probably say 68%.
Bollinger bands is not accurate. If you want to use standard deviation, you should not use directly with closing prices because price is not in a normal distrubition.
So the probability of 1std is 42% not 68%. And also it depends on the MA length you use. Anyways, i have never said i am not profitable or new. I bought his course because he was pretty sure about his system.
To be honest, i like this guy. Very responsive. But he doesn't have right using F word. Yes he can talk like that with "his friends". But I'm not his friend. I have asked only a single question. He will also pay this email he has sent to his so called mailing list.
Scott, read this. This is just the beginning. You are going to apologize from me. And you are going to do it HERE and also in front of your subscribers.
I thought Ates was Scott? If not, who is Scott as a username here? I can make money for you, you freaks who keep bantering on about nothing. Just stake me and you'll earn percentages. I'll just do my safe little single lots in the micros and dream of the goodness of the minis until the trade war is done, where the real money is to be made...
And I'll hope that one of you assclowns selling a system will just take all your millions you are making from selling your systems invests in me, who trades a system that cannot be taught. Because NO SYSTEM CAN BE TAUGHT!
Maroons.
No way! Scott's a natural. He's definitely got a home here at ET.
Any thoughts on the ES Scott? We have the #1 thread on the intraweb here. 1287 pages of pure genius.
https://elitetrader.com/et/threads/es-journal-2019-2020.328086/page-1230#post-4954334
Welcome. Take your shoes off and make yourself at home.
Scott, you claim you are gettin 1.1R with 75% win rate right? However you are setting stop orders (buy/sell stop) and this means your slippage is at least 1 tick. When you use a stoploss, add 1 more tick when you stopped out.
Now let's say you are using limit orders ok? Let's say you are winning 75% and making 1.2R in average. I have created a trade simulation and here's how your account growth should look after 200 trades. I'm sure you can find 200 trades in a year using your HOLY-GRAIL.
In the first attachment i have used 2% risk per trade. But wait, you are a math guru right? You should know about Kelly criations. I will do a favor and will risk 5% per trade for you (Let's don't listen to Prof. Kelly for now as i don't want you to go broke too quick). Check the second attachment also.
Screenshots attached
Now let's say you are using limit orders ok? Let's say you are winning 75% and making 1.2R in average. I have created a trade simulation and here's how your account growth should look after 200 trades. I'm sure you can find 200 trades in a year using your HOLY-GRAIL.
In the first attachment i have used 2% risk per trade. But wait, you are a math guru right? You should know about Kelly criations. I will do a favor and will risk 5% per trade for you (Let's don't listen to Prof. Kelly for now as i don't want you to go broke too quick). Check the second attachment also.
Screenshots attached
