Steven Dux: +230k today. $500K on the week

[trader99]

It totally makes sense for him to diversify his income by giving away his trading secrets.

Except he's NOT really giving away his trading secrets. I've traded for a while and still trade and make decent $(low 4 figures days). So I know how trading works.

But if you watch his YouTube tutorials, it's great for noobs. Infoware. But I don't think it's sufficient to just take his course and go make his kinds of returns. He's been trading for a while so he knows how to make money.

So I think even in his paid seminars he just gives setups etc. Which is NOT a trading system. But noobs just care about entries. There's more to it as all of you guys know. Entry, exit, position management, position sizing, risk management etc.

I have never been to his seminars so I don't know what is actually covered. But if my intuition is correct is that he doesn't give the entire picture. But noobs are too dumb to know and just pay up.

So it's a nice income stream for him.

 

[trader99]

What? Don't we all take a break from our six-figure jobs to go pick soda cans out of garbage bins? I mean, it WOULD be an "additional income stream"...

I get what you are saying. But the analogy is not quite right. I would say his additional income stream is NOT the same as picking soda cans out of garbage bins but rather an additional six figure income.

I have a job, consulting side biz, and trading. And trading is approaching my normal job and on some days exceed the pay(on a daily basis not on total annual basis yet). So I treat trading as an additional side income stream. I wouldn't call that picking up soda cans. All about having multiple side income streams.

 

[trader99]

Only 100K?
This guy is making 500K in a good week

And look at that quity curve below, this guy is the words greatest trader:


View attachment 230468

It looks too smooth is a big concern for me too. This is where I get skeptical. But to be fair and objective the Y axis scale is in the millions which gives the illusion of smoothness. But if you look at his actual P&L statements there are days where he's down esaily -$25K to -$60K. And there are months he's down -$100K to -$200K. But on a cumulative scale it looks smooth.

Also, he's super selective. He may do 2 or 3 trades a day. And there are weeks where he only trades a few times. Super selective on the exact types of setups.

Whether you believe him or not. his approach seems legit. Don't trade just for trading. Pick the best setups and ride it with size. That's how he does it. There are days where he makes little money like a few hundred to a few thousands then later on the week when his perfect setup comes he trade swith size and make $20K-$50K on one day. More recently $100K on the day.

 

[trader99]

It’s legit if you understand the business rationale for diversifying.

Goldman does it because
1. Synergies
2. They hire people to do the work. (They can add time invested to the new business line)

In this guys case, the synergy is supposedly negative as he’s giving away his secrets. Unless he’s more profitable front running his clients (then there is synergy).

And his Time is limited and he has to chose where he spends his 168 hours/week. Is selling courses worth it if you are making 100k/week trading? Shouldn’t you spend you time maximizing your trading or if there is no marginal return spending your time trading then spending your extra time maximizing your return by investing your excess capital in things like real estate which can diversify your income without requiring significant amounts of your time. If he can hire someone to do his trading or to teach his course then the diversification through selling education might makes sense.

He doesn't make $100K/week trading EVERY single week. Only in these crazy volatile Fed pumped environment. Why not sell infoware to noobs and generate another mid six figure income stream? And as I wrote below he's NOT giving his secrets away. Just setups. Which is NOT a trading system. Risk management, position management, position sizing, etc are probably not covered.

But noobs are too dumb to know the difference. Free mid six figure income stream selling general infoware. Why not? ka-ching.

He said he doesn't understand real estate enough b/c his English wasn't that good. But he's reading up on it. Maybe in a few years he will diversify to RE.

 

[southall]

But noobs are too dumb to know the difference.

Noobs have no chance if a 20+ year veteran like yourself actually take this guy seriously.

 

[S2007S]

He doesn't make $100K/week trading EVERY single week. Only in these crazy volatile Fed pumped environment. Why not sell infoware to noobs and generate another mid six figure income stream? And as I wrote below he's NOT giving his secrets away. Just setups. Which is NOT a trading system. Risk management, position management, position sizing, etc are probably not covered.

But noobs are too dumb to know the difference. Free mid six figure income stream selling general infoware. Why not? ka-ching.

He said he doesn't understand real estate enough b/c his English wasn't that good. But he's reading up on it. Maybe in a few years he will diversify to RE.

Stop believing that garbage . If they had as much talent as they are made to believe they would be running multi multi billion dollar hedge funds. Its all a ploy to sell you their "trading secrets" and be involved in their picks. Fake as fake can get....

 

[trader99]

Stop believing that garbage . If they had as much talent as they are made to believe they would be running multi multi billion dollar hedge funds. Its all a ploy to sell you their "trading secrets" and be involved in their picks. Fake as fake can get....

That's where the thinking is totally wrong. He said his edge doesn't scale that high since it's really nichey. Low floats small caps and microcaps. That strategy can't scale to billions. But it's a clear inefficiencies in the small/microcap universe.
Also he's a manual daytrader. Imaging hitting hot keys and managing billions. doesn't work that way. But for a few stocks at a time manual trading can work.

This is why he can never run a billion dollar fund. But he doesn't have to. He makes good money trading his small niche.

It's like people who sell shit on ebay or Amazon. They might have found a niche but doesn't mean they can be the next Walmart! lol.

I work in data science as a profession and trade too. Unless there are objective evidence to the contrary I'm open to all ideas. Not that I accept it as truth. I can't reject the null hypothesis yet.

Recently Israel Englander of Millenium fund is getting into small and microcap space. Maybe there's some alpha there. Maybe not to run a billion dollar fund. But a few hundred millionn can be absorb in this space.

Anyhow, I've listen to enough of his videos where I think I can reverse engineer some of it...Run a hundred million dollar prop book via automation. hehe.

JK. I'm more of a large cap guy. But there seems to be interesting potential alpha there..

 

[yogi_trader]

lol. I've had 163 days exceeding 230K.

Futures, stocks, options or a mix of all three?

 

[SimpleMeLike]

I don't think Dux is legit. I've seen discrepancies in his posts. He showed a years worth of his trades and how much he made or lost each month, then he post some months later and they were all different amounts for the same months.

Then he did a video of his "Audited" trading account claiming he got an unbiased CPA to audit it. After checking the guy, turned out the " independent CPA" was actually the CFO of the trading platform he uses.

I'm sure some of his trades are real and cherry picked now that he's suckered 10s of thousands of people into buying his course.

Great post

 

[guru]

Only 100K?
This guy is making 500K in a good week

And look at that quity curve below, this guy is the words greatest trader:


View attachment 230468

I don’t have reasons to either defend him or undermine him, but I’d just point out that this chart seems to be over long term, pretty much monthly, and he does seem to have many flat months. This is not that much better than a typical professional trader at a prop firm who’d get fired if they didn’t generate profits every month, or even every week.
Any lies would likely come out in lawsuits, which should’ve happened if too many people felt cheated by him.