This thread is about Don and his effort to teach his system. Anybody bullshitting offtopic will be asked to leave and Alex and his kind specially are not welcomed. If you want to discuss his teaching efforts, the Don Miller 1. is a fantastic place for that. Now let's get down to it: The 8 weeks have came to an end. The Jellies are going to swim alone from now on. Don says: "In addition, after the initial Jellie effort has been completed and the Webinar series wrapped, it's likely that I'll be adjusting the current discounted price closer to its true value. For now, I plan on leaving the current discount in place through the end of September to allow interested blog followers to benefit from what I believe is the most intensive educational service I've ever produced, and likely ever will in the future ... and at a fraction of the value. "
Don also donates some of the fees to charity: "Thus far, and with one week left to go in the eight week inaugural effort, the tally of the portion of the Jellie Webinars that will go to charity is $9,542, which reflects a 15% tithe of the net Webinar proceeds ("net" meaning less merchant credit card processing fees)."
The Jellies will be on their own, but will not swim alone from now on. From the September 18, 2009 blog: "The end in terms of the Jellies being turned loose to swim on their own (although we will be swimming alongside each other as peer traders going forward as I've stated in the past), yet the beginning of an infinite world of market opportunity." "And soon ... the end of Don Miller the educator/trader, and the return of Don Miller the trader as I trade alongside the expanded Jellie team in the new tank."
Sorry little Pekelo. In Amrica we have a right to rebut. You want to start your own leeetle thread, fine with me. When you want to fling dirt at me, then expect me to have the right to answer you back. One question people want to know. What is your relation to Don Miller? All the filthy language you use, is that Don Miller approved or just your filthy mouth. At Puretick we encourage spirited debate. Banal insults are discouraged. If you can't run a professional thread, you do not deserve one. Successfully, Alex L. Wasilewski Co-Founder & Head Trader Trades That Work www.puretick.com 1-877-GOLONG1 (1-877-465-6641
I think there are two key elements that contribute his success thus far that may not apply to average retail traders: 1. He leases a seat and pay very low commission. 2. He manages risk without stops mostly, by using size, which allows him to save 1 tick consistently. Also last yearâs volatility is also an important factor. Without these key components, he will only break even. Psychologically and emotionally, when you pay less than $1.00 commission, this allows you to scratch a lot of trades without thinking commissions, or may be even gain one or two ticks. This is an important edge. Retail Traders paying $5.00/RT to play ES game will never win with this style, no matter what Don says it ainât so.
wow don has shortened the course to 4 weeks for $7500. he's basically taken some of the materials he used for the first one and will use it over and over again. if he gets 10 people a month he can make 75-100k a month and still trade.as the previous note says anyone taking dons course is a fool as the way he scratch trades a ton will kill 99% of traders who pay anywere near retail.
Good points. I am not sure about how he manages the stops, but the commission difference alone can kill the deal for students. I am curious to see how the student will do once left alone. Now about the shortened learning period: I always thought 8 weeks is a bit long. If you can't explain and show what you do in 2-3 weeks, 4 extra weeks isn't going to make a big difference. So I actually agree with him about the shortened learning curve.
Don Miller definitely deserves the snake oil sellers award. Why bother trading when you can sucker 10 or 20 people every month into paying you $7500 each. He even looks like this guy.
I believe that Don's claims about his million-dollar year etc. are 100% accurate, and that his blog is representative of his actual trading. I also believe that the Jellies were ripped off, to a large extent. Nobody can learn trading in 8 weeks. $7500 and counting is an awful lot to pay in order to find that out. The other thing is that Don's strategy and success seems to be dependent on trading large size in general, churning thousands of contracts at CME member commission rates (do the math on his edge, it's tiny), and ultimately on the kind of extreme volatility we saw in fall 2008. He says that he doesn't just sit on the bid and offer all day, but when you're trading 3000 roundturns to make $6k the numbers don't lie. Somebody just starting out, trading one or two lots in these market conditions is going to have a really, really tough time filling Don's shoes. While Don is obviously free to do what he wants with his time and is free to charge whatever the market will bear for his services, I think the time would be better spent on going through the huge library of free material on ET and other sites, and if you must subscribe to a room, find one where $7500 will get you six months or a year...
I disagree. You can disgorge an awful lot of information in a couple of weeks, but ongoing support is critical. If the Jellies stick together, form their own chat room, keep posting charts and helping each other out etc. for a couple of years then most will probably succeed - but at the end of the day it won't be because of Don Miller. What strikes me is that Don gives the impression that you can just go through his high-end boot camp, then saddle up and start raking in the cash. Of course it doesn't work that way. I will say that the guy is a master at marketing and will probably make far more with this educational venture than he ever makes in trading.