K, let me try ... just my point of view - not facts:
1- How can he give $50K to all his traders if he does not have that money?
Once you pass the SIM, they will set up a prop trading account. I believe it's with T3. What kind of payments he gets after that I don't know and don't care. As long as I get what I'm promised, I'm fine.
2- If he is using the $1K with 50X from the course, why he is not saying that? is not too honest and he is claiming all the time he wants to help people and teach them etc
I don't know how the money is spent/distributed. I'm pretty sure the $1K goes to him and has nothing to do with funded account. As far as client is concerned, he/she is paying for the course and a chance to get funded. Go ahead and point me to a place which will give you 50k account without any initial deposit and with no prior trading record. I will tell you that the more you explain things to people, the more they get confused. If it's not relevant, there is no need to go to details.
3- If everybody is trading $50K in 2m, then how can his strategy work? he is the elephant in that situation!
I don't think he tells traders ... we are all shorting this stock NOW. He says he trades about four stocks. Can they move AAPL two minutes into the open ... I doubt it but possible. If that was true, all his traders would be rich beyond belief. BTW, when he says "elephant" bar , he means unusually large bar(like an elephant trunk), not that the institutions (aka elephants) are responsible for creating it.
4-
He says he need help with their trades, he is not making money with the course, he needs traders, then why is not offering the course by free to get more and best traders? and in any case, why is training people who knows nothing about the market instead of more professional ones if he has all that money to trade after all?
He doesn't need help. It's easier to trade when you are in a group (like prop firm) because there are many eyeballs calling out possible trades (as long as all trade similar setups).
People often perceive value of the product by the price. If I offer you something for free, that's what you will think it's worth. Lots of people overprice just to create perceived value (and to negotiate down from a large number)
He has what he calls "black team" which is by invitation only. Obviously every business needs new clients and this business is competitive because people promise ridiculous results. He often says that as soon as he mentions that most people will fail, his periscope audience is halved immediately
I think you need to consider that he is talking to a large diverse audience, so he needs to speak to the common denominator.
5- Why he is uploading only profitable days? why is not showing all his trades to see if the earnings are consistent?
I've seen him (on Periscope) be in the red and explain that he will often come back from the red. It's not unusual for day-traders to be very consistently profitable. His consistency has nothing to do with your future consistency though, so it's irrelevant.
6- Why he changed son many times the company names and there are a lot of people from 2008, 2010, 2012 etc saying they lost all the money when he closed thos previous companies?
I have no idea, but I do know going into business with partners is very difficult. People are looking to screw you all the time. Maybe he screwed them or maybe he got screwed, I don't know. Has nothing to do with the worth of his education.
7- Why he is not the richest man in the world? he says he was trading since 198X, and he says he had more than 100% profits per year, do the maths, this man should be the top1 in Forbes, but nobody knows him !
Maybe he has a gambling problems. Maybe he has 100 baby mamas all over the world he is paying for. Maybe he made lots of bad investments. Maybe he is hiding money from IRS. I have no idea and I don't think it's fair to ask.
IMHO, people who sell you their strategies (assuming it even has an edge) understand that their strategy is not scalable. So it's good to sell to people with small accounts because they will/may make good relative returns on it. If you go get funded from a real place (hedge fund or family office) the first thing they will ask you is - how much capital can we allocate to your strategy?
Trading is very hard, stressful, and unstable. Teaching is easier, more scalable, and for most people is more meaningful. The 1% that succeed, you may have made a real impact on their lives forever. That's a noble cause. Will 99% be disappointed? Yes, but that's something you cannot change no matter what you do.
Let me also address something you said before. Lots of people say, oh he is teaching people in Latin America because they are not as knowledgeable or whatever. If I were a successful trader and was looking for someone to mentor, would I take a IV school graduate or would I take a promising kid from a ghetto? I would take the kid from a ghetto. If he makes it, the impact would be huge on him, his family, and possibly even his community. The IV guy, will be like ... I could've made three times as much while having lunch with my buddies.
8
- Why he promotes himself as the winner of the best trader award but is not giving any proof of that? acutally I couldn't even find a prize like that
I'm sure in his 30 years he got some award
You have to accept that he is a front man for the business and any business needs to market itself. For you it raises red flags and that's ok.
9- Why his website is sooo unprofessional? he is millionare and is selling courses for more than $1000 and cannot pay a webdesigner? at least to fix their broken links??
Ha ... the first indication of a scam to me is when someone makes the web-site very professional. Most "regular" businesses provide the basic necessities since everything costs money.
I don't understand why people expect their teachers/mentors to be saints.
Quick real story ... I was reading a book from Oprah's book club on a plain. The flight attendant comes up to me and says ... How can you read her stuff, she is such a fraud. How so I say? I bought her book on how to loose weight when she got skinny ... by the time I've finished it she was fat again!
