mlm guru doug Allen thread closed. Why?
- Thread starter Sushi
- Start date
I hear ya man. Whatever works for you. I agree in situations a few times a month where you have a big squeeze into the last 20 min of trading you can size up and leverage higher. Especially on a move like yesterday where the mkt has been getting clobbered day after day. Personally I like to use a minimum $5000 dollars margin per contract. So if I am gonna trade 20 lots I want at least 100k in my account. I have seen people leverage the hell outtta of their account trading 10 lots with $5000 in their account. They usually blow out within days.
2 point stop seems to me as tight a stop one would use in the ES...lately that is anyways. I tend to use an ATR and with an emphasis on the last 5 days ranges to determine stop loss amounts. But if I am looking for a quick trade near a support/resistance area I sometimes use a 2 pt stop. But my profit goal is also less than normal. I tend to use 5 point stops on longer trades.
Exactly. While the "haters" have been rather funny and are entertaining, I dont see the use on trashing they guy. He really hasn't done anything worth trashing. It's not like he is an egotistical prick like Tim Sykes. It's not like he is some guy saying he has the greatest trading system (Take 6 tick profit but give it 50 ticks against you in the YM) like Alex W, who doesnt actually trade a real account.
From what I have seen he is some guy who says he has funding to back other traders. He really isn't saying much else or claiming anything outlandish.
Now with all the nitwits and wannabe traders on here he is going to run into his share of idiots on here, but thats the danger of going on a public forumn. But if outta of the 100 responses he gets 5-10 people he thinks he can move forward with than it was a sucess on his part.
Do most hedge funds/fund of funds go onto a trading forumn looking for traders, no. Most trading job are gotten through connections in the trading/hedge fund world. But like he said, he is thinking "outside the box". He isn't the first one to do this.
Now if he turns out to be a scam, then so be it. Let the people on here trash him. But really there is no risk for people who want to look into his offer.
My reason for even posting in this thread is because a lot of members have told me they've benefited from reading my posts. I've received literally hundreds of PMs from people who are here because they genuinely want to better themselves. I can totally relate to them because that's how I started. What we share in common is being open-minded and the desire to learn... and treating people professionally and with respect.
So I guess it all comes down to which group a person really wants to be part of.
In this situation people are faced with two possibilities. Either you can trust me and trust that my offer is legitimate, or you cannot trust me. So now like a game, you have the choice of what move to make. A person can choose to play along waiting to see how this unfolds, or can burn his or her bridges so they can enjoy a few moments of sophomoric humor. The first choice leaves open the possibility of financial gain. The second closes the door on any potential opportunity.
So what that leaves are four possible scenarios which are:
1) I'm legitimate + you respect me = possibility you make big money
2) I'm legitimate + you diss me = no chance of making big money
3) I'm not legitimate + you respect = no chance of making big money
4) I'm not legitimate + you diss me = no chance of making big money
If I'm not legitimate you win nothing whether you diss me or not. But if I am legitimate the only choice that could possibly lead to financial gain for YOU is to respect me. If your reason for being here has anything at all to do with making more money, then choice 1 is the only intelligent choice, right? And this is the choice that 98% of the people here have made.
In other words the only intelligent choice, whether somebody doesn't feel 100% certain that I'm legitimate or not, is to respect me because that's the only choice that could possibly lead to any benefit.
And the least intelligent choice of all choices is to not give me the benefit of the doubt and show me respect. That choice requires time and effort on your part, AND precludes you from any possible benefit, other than momentarily making yourself feel good by insulting somebody.
So like I said, I guess it really comes down to which group a person wants to be a part of. Everybody has a choice. They can proceed with an open mind and explore the possibilities and what may come from building a friendship with me, or not. Even with all the "abuse" that's been dished out I still respect everybody here. Traders share a lot and can be like family sometimes. There might be misunderstandings and disagreements, but we have far more in common than not.
Doug
ps... for everybody who registered to be part of my group, look for an email in the next day or two. We're almost ready to go to the next step.
Doug kind of 'stepped in something' when he wrote in the OP that everybody here seems genuinely interested in helping each other out and seeing each other do well and moreso the quality of the membership here is exceptional. ET is the biggest collection of clueless trader wannabes, slackers, and degenerate wankers in the trading world. I would be amazed if he has 0.1% success rate.
Quote from rwk:
Doug kind of 'stepped in something' when he wrote in the OP that everybody here seems genuinely interested in helping each other out and seeing each other do well and moreso the quality of the membership here is exceptional. ET is the biggest collection of clueless trader wannabes, slackers, and degenerate wankers in the trading world. I would be amazed if he has 0.1% success rate.
doug asked me to thank you for your very objective assessment.
He would have posted himself but he is a wee bit busy processing all your applications.
He mumbled something about a sackful, even more than cabletraders and austinpowers combined apparently.
regards
f9
<i>Now here's a question that maybe you can help me with.... why did so many people who apparently don't believe I'm legitimate become so obsessed with this thread? If you ask me why I keep posting here, why not ask them why they even posted here to begin with? Doug
"Doug: ps... for everybody who registered to be part of my group, look for an email in the next day or two. We're almost ready to go to the next step.</i>
Doug, with all due respect, your personal "why" for posting here in this thread = forum is completed. Your objective was to find trader(s) who could manage accounts for you in distributed fashion. Mission accomplished.
To continue spending = wasting your time here is no longer an investment. Unless your "why" to do so has changed. Let me caution you on that if now your objective is to win everyone over just for the simple sake of it.
Basic human nature desires everyone to want everyone else' approval. We are wired that way. Wars have been waged since time immortal over that simple core desire. They continue to be even now. It's probable that some people here in this forum don't like you. Here's a little secret for you: a number of people here don't like me, either.
They have their own reasons for that belief, and nothing we say will change that opinion. Now, I'm sure in the past many times you experienced situations where persistent pleading and defense on your part eventually persuaded = won over negative opinions in the end. Drawing on those past experiences may lead you to believe that if persistent self-defense in the past worked to some degree, it will always work in the future.
But we know that past experiences in life do not always equal identical outcomes in the future. Clinging to those prior experiences will only hold you back here, Doug. You need to realize that new variables are in place here. If focused on accomplishing your objective, i.e. finding 100 applicants to filter thru for managed money traders, mission complete.
Instead of wasting one more minute of your time in here for any other personal "why" reasons, remain focused on your task at hand. If the urge hits you to post here again, shift your focus to investing the same amount of time working with your collected group of aspiring managers. Those who stick & stay will get their pay. Everyone else is irrelevant and moot from this point onward.
Be careful not to get stuck in a rut here at ET, Doug. After all, a rut is nothing more than a grave with both ends kicked out of it.
"Doug: ps... for everybody who registered to be part of my group, look for an email in the next day or two. We're almost ready to go to the next step.</i>
Doug, with all due respect, your personal "why" for posting here in this thread = forum is completed. Your objective was to find trader(s) who could manage accounts for you in distributed fashion. Mission accomplished.
To continue spending = wasting your time here is no longer an investment. Unless your "why" to do so has changed. Let me caution you on that if now your objective is to win everyone over just for the simple sake of it.
Basic human nature desires everyone to want everyone else' approval. We are wired that way. Wars have been waged since time immortal over that simple core desire. They continue to be even now. It's probable that some people here in this forum don't like you. Here's a little secret for you: a number of people here don't like me, either.
They have their own reasons for that belief, and nothing we say will change that opinion. Now, I'm sure in the past many times you experienced situations where persistent pleading and defense on your part eventually persuaded = won over negative opinions in the end. Drawing on those past experiences may lead you to believe that if persistent self-defense in the past worked to some degree, it will always work in the future.
But we know that past experiences in life do not always equal identical outcomes in the future. Clinging to those prior experiences will only hold you back here, Doug. You need to realize that new variables are in place here. If focused on accomplishing your objective, i.e. finding 100 applicants to filter thru for managed money traders, mission complete.
Instead of wasting one more minute of your time in here for any other personal "why" reasons, remain focused on your task at hand. If the urge hits you to post here again, shift your focus to investing the same amount of time working with your collected group of aspiring managers. Those who stick & stay will get their pay. Everyone else is irrelevant and moot from this point onward.
Be careful not to get stuck in a rut here at ET, Doug. After all, a rut is nothing more than a grave with both ends kicked out of it.
....or they can 'enjoy a few moments of sophomoric humor' on here and play along by filling in your questionnaires and going on your mailing list, it's the best of both worlds! If it leads to something then they're in the running, if it doesn't then at least they've had some entertaining moments. It's a kind of hedge, and no bridges burned!
Quote from Doug Allen:
ps... for everybody who registered to be part of my group, look for an email in the next day or two. We're almost ready to go to the next step.
I'll have my eyes glued to my inbox awaiting your email.
I'm pumped, let's go to the next step!! Wooohoooo, all aboard the gravy train!
When do I get to meet Patty?
Which all brings us back to "the hole that doug dug"
Without being aware, doug has been an interviewee for several days now and despite being alerted to the fact, he has persisted with the classic error of a Salesman.... over selling an under described product.
doug might win Miss Congeniality but I do not want him as a partner and that has been what this little charade has been all about.
regards
f9
Quote from rwk:
Doug kind of 'stepped in something' when he wrote in the OP that everybody here seems genuinely interested in helping each other out and seeing each other do well and moreso the quality of the membership here is exceptional. ET is the biggest collection of clueless trader wannabes, slackers, and degenerate wankers in the trading world. I would be amazed if he has 0.1% success rate.
I couldn't agree more with you on the population of this place. Is populated with a lot of 100 share/1 lot loudmouths who think they are the next Stevie Cohen. I rarely post anymore and usually come on here for entertainment purposes only. I have had a few people pm with with questions/ideas, and those people were good people. But a lot of this place is filled with failed traders or idiots posting that they have bought the bottom in the Dow for the 18th straight time.
To have a sucessful forum/website you have to have it private to members only and have a moderator who throws out people who bring nothing to the table/or cause havoc all the time.
All this being said, if Doug finds even one trader who he backs and does well for him, then his time on here was a sucess.
I had one guy in Chicago pm me a few yrs ago on here and ask for some help landing a trading gig. After doing due dilligence/a little research on the guy, I got him in touch with a trading desk up there. He went to go work there and everything worked out great for him. So you can find some good people on here. You just have to do your homework.