as are unsubstantiated claims of supposed successes.
I put you in the league of Secker, F. You are selling something, whether you believe it or not. You are selling the dream of riches without any proof whatsoever to anybody viewing this site.
Hiding behind excuses, deflecting arguments.
Despite all the effort that goes in to responding to people's fantasies by giving them a sense of reality you are there undoing this all.
Sure there's motivation, and its great to hear of success stories. But they are only stories. This site shouldn't be about fairy tales, it should be about education, information, and of course free will to express our opinions. But you are not stating opinions, you are stating them as fact.
Personally, I don't hate you F. I don't know you. But I know the damage that can be done.
I'm just frustrated that this has been allowed to continue, your claims. Not your thread and your posts which are all harmless but your claims.
You have been pulled up already on this, but still it continues.
This in my opinion brings down the reputation of this site, but clearly the mods don't see this or of course take a different opinion.
It shouldn't need a poll or a vote to come to the right decision on this one.
It also shouldn't have taken a year for this to be allowed to go on.
Anyway, I'll come off my soap box and wish you well wherever you go.
Hi Malaguti
Your comment is without doubt one of the best thought out statements I have read today
I have liked it - because I see were you are coming from and you have put forward a very good argument - the type SD should have.
In my defence - I have always stressed - it does not come easy - My success was not until after 5 years and up to then I had seriously looked at giving up many times etc.
The education I give might be unusual - but it works - with high probability
My claims are based on pure facts
I even have admitted I could not hack it with my own money above 25 lots size per pips - in those day approx £160 -170 per pip.
It took me 6 months to feel comfortable on under 10 lots . That was pain - and my account at that time was a GFT UK and at one time there was over $200k in it prior to 2009.
I suggest all intraday traders need over 3k hrs on live small frame charts - to understand reading PA at the coal face. By 5K hrs - you should be profitable and by 10k hrs plus you really should be in the under 5% of all retail traders at expert level
Now that can take a trader at least 3 years to even get to 5k and certainly well over 7 years if not full time to get to an expert level
Do you think this part of my teaching is really selling a dream - ?
I am looking forward to the end of October when my year is up to share the stats off the thread .
There are many ways too trade and be profitable - but as you know - not many can produce the type of results I require from a retail account - ie 25 to 50% account increase per month - with no compounding - with capital account under $100k - without using over 2% stake size - most of mine when account is over $70k is on under 1% stake size - hardly being a big gambler at all
I have always been concerned that retail traders compare results to commercial traders with multi million dollar capital accounts and say well if the best hedge funds can only do say 50% per annum ROC - then no retailer can do better than them
Of course this is rubbish as Institutional traders with that size account do not risk anywhere near 2% stake size - more like under 0 2% so up to 10 times smaller than a retailer. So that is why you get the anomalies.
Furthermore - I dont really welcome total newbies on the thread - I say you need a minimum 12-18 months of the basics first
I am being totally honest when I say my method is complex and is certainly difficult and no way can anyone go from being an average break even type trader to any where near my level in just a few years - it cannot be done - that's without even thinking about the traders own mindset and background etc etc
For me this is all facts - but ok I should stress they are my opinions and everyone will have different views.
As a guess during this last 11 months - I have easily had over 450 losing trades - even if they are only for 3 or 5 pips or so
Nobody picks up on this - obviously all the winners easily clear the losing trades - but I dont hide the fact I might have a loss or two every day - even four or five some days
When you are so used to this type of routine - trading does become a lot easier - you do have more confidence and you can take scalps other think are just silly etc
Hope this explains how I see it - but certainly I do take on board your points
Regards
F
