Amplify Trading-my journey

[fastshadow]

Ok, touché people.

First of all good spot on the whole pausing thing. The live ladders and CQG ladders are identical in design but you can change the colours in order to help you differentiate your live ladder from your sim. my live ladder colours are identical to his sim ladder colours.

second, there is also button that you can click that links his sim ladder to his live ladder for all trades. These buttons exist so they can duplicate your ladders on their system to make sure you don't lose the plot and decide to blow up trading 100 contracts of their money for the fun of it. the purpose of why he probably bought up a new ladder was so he didn't show his current P&L before the nfp. For sake of argument we'll assume he was trading sim only.

They do not encourage that kind of trading on the course.

Leopard I apologise to you or anyone else for my short comments. Just didn't appreciate the "silly and naive" comments and the fact remains that the only nay sayers here are those that have either not done the course or failed the course out of the sheer frustration that is trading and were hoping to gain some kind of insider secrets while on the course.

I am not Amplify's self appointed rottwieler, do the course or don't do it, be a millionaire or blow up your account. I don't care. By doing this course i have learnt the tools needed to be a successful trader. Anyone can learn economics, and anyone can read a chart and apply S&R levels, its all down to me and how strong my own psychology is when it comes to hitting that losing streak before I am able to turn it around. In my opinion, 4 months is too short to be able to succeed in this course. I failed the course because the pressure of having to succeed in such a short time was too much and i forced the trades. ever since ive been independent my strike rate has improved drastically because im under no more time constraints.

The course itself has no real pearls of wisdom. you learn the set ups, and you trade them. if you're right 30% of the time with a risk/reward of over 2:1 then you will be profitable end of story. sounds easy? do it. Want some help? do a course.

Simple.

Pid = Amplify ??

Very suspicious the nature of your writing, Sir........very suspicious

 

[cablemonster]

if you're right 30% of the time with a risk/reward of over 2:1 then you will be profitable end of story. sounds easy? do it. Want some help? do a course.

Simple.

errrr maths check.

 

[The Leopard]

Ok, touché people.


second, there is also button that you can click that links his sim ladder to his live ladder for all trades. These buttons exist so they can duplicate your ladders on their system to make sure you don't lose the plot and decide to blow up trading 100 contracts of their money for the fun of it. the purpose of why he probably bought up a new ladder was so he didn't show his current P&L before the nfp. For sake of argument we'll assume he was trading sim only.

The account being used for the trades was sim according to the pop up.

Leopard I apologise to you or anyone else for my short comments.

No need for apologies. Rhinos come to me for hide-thickening tips. I'll apologise too, anyway.

Here's an interesting thing. Just say, arguendo, that I wanted to show people I could spank the market like a boss during NFP. Now assume I couldn't actually do it. This is just for the sake of a discussion, it isn't meant to refer to any real world stuff.

So what would I do? First, I'd get a sim account or two, that goes without saying. What next?

Well, I might record a video showing me SIM trading every Friday. No matter how bad I am, sooner or later I'm going to get it right. I won't use stops (why bother?) so I don't have to worry about whipsaw. Sooner or later, I'll do a good one, and that's the one I post on youtube. Everybody will say "There's proof he can do this sh1t". But it isn't. It just shows I can get lucky and I know enough to reveal only what I want people to see.

A very well known vendor pulled a trick like this. After years of being asked, he eventually produced a one month statement showing some pretty good results. The guy is a millionaire trader (allegedly) but the account was basically a tiny, play one. Maybe he didn't want to reveal his P&L? Or maybe he'd been trying with this tiny account with a few hundred bucks in it for a couple of years until he finally had a month good enough to show?

But what if some awkward sod, lets call him El Leopardo, comes along, and points this out? What then?

 

[The Leopard]

So El Leopardo is on my case, all up in my grill. Now what I want to do is show that I can do this all the time. Five times out of six, NFP is like a printing press for me. It's not a one-off lucky hit, this is just how I roll.

I can't do it, don't forget. But so what? This time I get my sim account, and I get a friend, or business partner, or whatever, and he also gets a sim account.

Now, on NFP day his sim is trading long and mine is trading short. We record both of us managing the trades and whatnot (again, no stops if we don't want, so no worries about the whipsaw that you often get on NFP day) and then when it's done I go and record my video to whichever one works. Then I put them all together, the DOM and the chart, with a little video of me apparently peering at my trading screen, clicking a mouse here and there and whatnot, and I put it on youtube. If I want to get really fancy I can put a clock on the wall in the background showing the same kind of time as there is on the clock on my screen or whatever.

Every week my friend and I do this. I chuck in a loser here and there so it looks almost believable, and there you are. There's video evidence of me pulling 10 or 15 pts out of ES every Friday when the number's released. Week after week. I am, in trading terms, a stone-cold bada$$ motherschlonger.

Can you see why I told you that me posting my own video wouldn't prove anything?

 

[The Leopard]

sounds like the nob spread.

Asss-cheeks spread more like.

 

[The Leopard]

after reading this thread many times over again one can't help but feel traiderboi = amplify

:-0

 

[The Leopard]

Hello.

Has anybody else taken the Amplify course? It's amazing! I did and three weeks after I finished I'm f***ing minted and getting noshed off by coked-up strippers in the front of my Lambo every night.

This is a real review, provided for the benefit of the members of the Tarde2Loose suite of forums.

Signed,

A Sockp-Uppit

 

[fastshadow]

Hello.

Has anybody else taken the Amplify course? It's amazing! I did and three weeks after I finished I'm f***ing minted and getting noshed off by coked-up strippers in the front of my Lambo every night.

This is a real review, provided for the benefit of the members of the Tarde2Loose suite of forums.

Signed,

A Sockp-Uppit

I second that
Unfair ban

 

[Nut]

I don't post here often but this is an interesting thread. It's my view that companies exist to make money that is the reason they exist in the first place so I don't see why Amplify should be any different.

In this day and age here in the UK people pay large amounts of money to be educated at Oxford/Cambridge or to send their children to private schools. Does that mean they get a good education, my view is not always. Evidence look at the Westminster Parliament. What they do get from these Uni's is a network of old boy's.

Personally I am not against anybody investing in themselves it is never money wasted. As Warren Buffet once said money is what you pay, value is what you get. So I ask the questions of those that have taken the course do you feel you got value for your money. Secondly even if you did not get the job will you continue to trade using the Amplify methodology or will you revert to your old systems.

Also be honest did you take the course just to get the job.


Thanks in advance
Nut
:?:

 

[Pid]

I don't post here often but this is an interesting thread. It's my view that companies exist to make money that is the reason they exist in the first place so I don't see why Amplify should be any different.

In this day and age here in the UK people pay large amounts of money to be educated at Oxford/Cambridge or to send their children to private schools. Does that mean they get a good education, my view is not always. Evidence look at the Westminster Parliament. What they do get from these Uni's is a network of old boy's.

Personally I am not against anybody investing in themselves it is never money wasted. As Warren Buffet once said money is what you pay, value is what you get. So I ask the questions of those that have taken the course do you feel you got value for your money. Secondly even if you did not get the job will you continue to trade using the Amplify methodology or will you revert to your old systems.

Also be honest did you take the course just to get the job.


Thanks in advance
Nut
:?:

Hi Nut,

I agree about the Cambridge/Oxford/Harvard argument, I believe the only reason these uni's churn out the brightest people in the world is because they only accept the brightest people to begin with.

When I first looked into the different types of courses available there were a few to choose from. I chose Amplify for 2 reasons, i couldn't find any dirt on them from people who have actually taken the course and the potential job offer at the end.

Do I feel I got value for money? Yes and no. If you want to learn how to trade then I recommend this course, if you're doing this because you think this is a way to sneak in through the back door of futures trading and make huge profits then SAVE YOUR MONEY. These guys will only back the best of the very best. and if you're that good to be employed by them then why fanny around giving them 40% when you can trade and keep 100%. If £5k is all you've got to invest and expect to see a return on it then you are setting yourself up for failure. I am without doubt more knowledgeable now on how to trade then i was before i started this course (and I have been trading on/off for over 6 years with no real progress).

I guess my only gripe with Amplify was that i didn't feel i got enough 1 on 1 tutoring. They review your trades once a week but there was no real input as to why you took certain trades at certain levels. For the money i was paying i felt i was warranted more attention then what i got.

But I am not bitter at all, trading is the toughest job there is. And you need to develop a thick skin real fast as it will never get easier, Every day you fight just as hard as the day before for the ticks. You are taught a certain style of trading and a set of rules to keep to at all times. These traders have better things to do then listen to the complaints of how the market is so unfair and if you had just placed your stop 1 tick higher then you would've been in profit etc. They don't care and the market doesn't care. This is what trading is. either embrace the frustration that is trading or find another career path. For those that can hack the daily frustration then rewards await - after a few years.

Yes I am staying on trading the Amplify system and paying monthly to have access to the ladders, chat room and the traders albeit with my own margin. While training, what little margin is left after the licenses to get you on the exchange etc goes towards your trading margin until you ultimately blow that up also. After the expenses of renting a floor in Canary Wharf, paying support and IT staff and equipment etc I really can't see how they can make money from this course. And there are 4 partners (I think) to split the profits between. There is a very simple reason why these head traders offer this course and this is to diversify their risk. Pro traders make money because they manage RISK. 50 eyes in a chat room comparing and posting charts with their own opinions, S&R lines, fib levels and setups etc is better than 4. Amplify giving profitable traders money to trade their own funds is called diversifying their risk. Risk is everything. He says it in the video, he's not focused on the P&L, hes focused on his exposure to risk. Risk risk risk risk risk. if you're entry is great, your stop is great, but your target in order to give you your 2:1 RR is not realistic then don't take the trade. manage your risk. The course is more complex than that but that is the gist.

I am not a profitable trader yet and these are the lessons that have been embedded into me by doing this course. You will never be a master of the markets. You will never predict anything. Any trader that has a strike rate of over 40% and a 2:1 risk reward has a license to print money imo. This career path so hard and so mentally demanding that I'm giving myself up till Xmas to succeed at it. By then I expect to at least be able to cover my trading costs. If I can't achieve that then I'll call it a day. If I can at least be break even by Xmas then hopefully i can make a go it. All I know is 4 months from scratch to be profitable is totally unrealistic.

regards

PS - I mentioned in my earlier post that Amplify will still back you if you are showing improvement even though you are down in the live account etc, that was incorrect, they let that trader go because he wasn't flat or in profit of his live account. He is gutted but not bitter either because he understands as I do that it is an unnecessary risk for them to keep him on in the hope he will improve the account. Loss of opportunity is always preferable to loss of capital.

 

[Nut]

Hi Nut,

I agree about the Cambridge/Oxford/Harvard argument, I believe the only reason these uni's churn out the brightest people in the world is because they only accept the brightest people to begin with.

Pid hi

Many thanks for the insight and candid response. Shame about the lack of one on one. I do wish you well with your trading and hopefully by Christmas things will be fine for you and you will not trigger your stop loss.

Good luck
Nut

 

[Pat494]

If £5k is all you've got to invest and expect to see a return on it then you are setting yourself up for failure.

You make some valid points but I do not agree with the one above. A competent beginner trader can easily make a good start and learn with only £500. Much better to blow that than much bigger amounts. Everything you need to know is on the web for free but if you want to donate thousands to sweet talking guys in suits then that is up to you.

I wont wish you "Good luck" as luck has little to do with it in the longer term - just put the effort in !!

 

[cristi01]

The story is over and over again, the same.
Some guys asking a lot of money for teaching FX and proving them self with Excel like charts about how profitable they are.
My advice for anyone wanting to buy a course, a signal or a trading room is to ask for a proper certified account statement done by a third party.
These days is easy for retail "teachers" since theirs MyFxBook.
These guys making, as they claim, 30% a month(with these ROI they suppose to have billions on their accounts) could provide a statement provided by big companies like PwC, E&Y, KPMG.
As far as I know good traders, great traders, with certified account available to be seen are not making more than 2-3 % /months having 3 years of trading history available. I've seen traders making 10% or more a month for 6 months but after other 6 months their account were wiped.

 

[Pat494]

Caveat emptor

or

buyer beware

 

[cristi01]

And something more:
Even "the teacher" is no willing to show you his account claiming does not want to show his money (because of tax problems or kidnappers or whatever ) you can still can ask for:
1. A MyFxBook account where money are not shown but pips are
2. Accounts from his former students
3. A side account traded with a Trade Copier from his master account.
Keep in mind this: if he has a certified trade history Smart Money will look for him. He can not get access to investors money until he proves himself with trade history so he will crave for a consistent trade history.

 

[random12345]

Interesting, just read this thread for the first time.

Anyone ever considering a prop should always simply pay £1 at Companies House and look at their accounts to see if this company could possibly facilitate the city dream they are blatantly selling.

You can see that Amplify are a tiny company by viewing their AA submissions. There is no way you are going to make any serious cash there because they'd have a record year if you did. Their cash at hand and debtors are absolutely tiny - something you would not expect at a serious prop firm at all (in fact it makes no sense). It's possible they outsource the actual trading aspect of their business to someone else or more likely that they simply do an extremely small amount of trading.

Typically you'd expect a pretty decent retained P&L account in the capital and reserves as well, otherwise it suggests either the profit is very small or that every bean is being doled out through dividends to the few directors, again an unusual occurrence at a prop firm. Profits are generally retained if there is growth prospect through the trading itself - if there isn't, say if this is an educational company, then by all means sod organic growth and distribute the cream.

They also don't appear to actually offer a desk leasing service for established professionals, instead offering some kind of virtual nonsense for trading from home. Another flag.

In summary, these people are not a proprietary trading firm in any reasonable definition.

Sorry.

 

[sonofcablemonster]

Interesting, just read this thread for the first time.

Anyone ever considering a prop should always simply pay £1 at Companies House and look at their accounts to see if this company could possibly facilitate the city dream they are blatantly selling.

You can see that Amplify are a tiny company by viewing their AA submissions. There is no way you are going to make any serious cash there because they'd have a record year if you did. Their cash at hand and debtors are absolutely tiny - something you would not expect at a serious prop firm at all (in fact it makes no sense). It's possible they outsource the actual trading aspect of their business to someone else or more likely that they simply do an extremely small amount of trading.

Typically you'd expect a pretty decent retained P&L account in the capital and reserves as well, otherwise it suggests either the profit is very small or that every bean is being doled out through dividends to the few directors, again an unusual occurrence at a prop firm. Profits are generally retained if there is growth prospect through the trading itself - if there isn't, say if this is an educational company, then by all means sod organic growth and distribute the cream.

They also don't appear to actually offer a desk leasing service for established professionals, instead offering some kind of virtual nonsense for trading from home. Another flag.

In summary, these people are not a proprietary trading firm in any reasonable definition.

Sorry.

agreed sir. There are quite a few of this flavour of prop firm around. Just on the point of trading remotely for a prop firm the genuine ones I know about will normally let you trade remote if they know you and what your risk profile is, even though some will say no remote if you call up.

 

[random12345]

agreed sir. There are quite a few of this flavour of prop firm around. Just on the point of trading remotely for a prop firm the genuine ones I know about will normally let you trade remote if they know you and what your risk profile is, even though some will say no remote if you call up.

Yeah I agree, it's just when they only offer some kind of remote service with no in house presence at all that you know you're being fleeced.

Incredibly few genuine props in what is supposed to be the financial capital of Europe. We've got, what, Marex, Futex (tough to really say they're in London...), Pyne and a few US props that have a base in London along with the micro cap remainder. Honestly struggling to think of many others of note.

Marex have a total freeze on new traders at their physical location and we've discussed they've diversified so heavily outside of prop trading that their profit split with traders makes up a tiny amount of their income (and outright, a tiny absolute amount). Futex seem relatively active, but their lack of any major growth would concern me a bit and Pyne, well, I saw an advert on efinancial where they were charging 7 grand for the new trader programme, which is a shame they went that way.

I think something needs to be done about this stuff. It prays on the vulnerable who have a City dream and they pitch it at just about the right amount of money anyone can scrape together. Every other job with a desk in EC or Canary Wharf demands a very good postgrad and significant intern experience, but suddenly you find one that says if you have an O-level in woodwork and are willing to pony up 5-10 grand, well, come on board. You'll have a genuine chance of being funded too. Oh rly? How come you only have 20 people in your cheapo office and each intake is 15 people a month eh? Doesn't mention that in the ad :whistling

 

[sonofcablemonster]

Incredibly few genuine props in what is supposed to be the financial capital of Europe. We've got, what, Marex, Futex (tough to really say they're in London...), Pyne and a few US props that have a base in London along with the micro cap remainder. Honestly struggling to think of many....

Also Tower have a good rep but yeah decent props very thin on the ground.

 

[Pat494]

Hopefully traderboi ( or another ) may return sometime and let us know how he is getting on.

Scared of being sued probably ?