For Inspiration, I will repost his Fall goals: http://donmillereducation.com/journal/ Regimen: Be Effective Asset Steward Awake each day 5:15am ET Arrive work station 5:30am ET Be at trading station 100% of Europe-to-U.S. and U.S.-to-Asia transitions Track and score all days and sequences No alcohol or sex Sunday AM to Friday mkt close Ensure 1000% focus (yes, there’s an extra zero) Continue algo automation efforts Trade a 56 year-old body like a 36 year-old Continue diet & workout to keep weight within 170-173 range (holding from prior 210) Increase vertical knee raise reps from 50 to 100 (3x day) Increase push-up reps from 60 to 120 (3x day) Push all limits and boundaries Do the improbable Pursue the impossible Dream bold dreams Eliminate/avoid all fear Do what others won’t, can’t, or don’t understand Have a trading partner/coach who will get in my face and push me Be willing to fall completely on face … publicly Use successes to teach/transfer knowledge; Rebuild educational website Establish and nurture the best trading network in the world Educate self at every free moment Avoid all negative influences Read goal list every morning and night Give all glory to God Love, uplift, inspire Financial Targets: Min $100k per Month 2 $100k Weeks 5 $25k Days 2 $50k Days 1 $100k Day < 2 Draw Days per Month 20 250 ES Contract Trade Sequences 10 1,500 Spy Option Contract Sequences Triple $7,500 “Play” Account --------------------- What I miss is that he never updates how he succeeded/failed achieving those goals.
I did not attended his course. I saw some of his trading ebooks many years ago. He is one of the very few writers who probably know about trading.
So I visited his blog, skipped through some of the videos (Sorry Don, too much rambling) and here is what I came away with: Looks like Don took a job as a CFO at a tech company. Maybe that was the reason for saying goodbye 2 years ago at the start of this thread, but why didn't he say so? Maybe because when you are a consistently profitable trader you don't take another fulltime(ish) job? There could be plenty of other personal reasons, but why not give us a hint at least, when you are a person who like to express himself? Also, why did he make that very ambitious list of goals a year ago if he wasn't even trading fulltime? Anyway, Don is back at bloging and making mistakes. At the end of January he was out of sync, on Febr 5th he took a beating (later recovering +200K, but not saying if positive for the year) so clearly he still have major issues with his trading. Yet he is launching a Live trading room!! Alrighty, he has been always about transparency, although he mostly shared his goals and positive results. (not really transparent himself) I mean it is alright if he doesn't want to go into numbers, but at least throw some % towards us. Or have a small account for show. Well, the sidejob is done in a week and he will be back in fulltime trading and squaking and live trading for your pleasure. For $400 a month, that is a steal.
My guess by 2016 he was running low on suckers to fleece. In a bull market there is a lack of retail who are interested in trading as going long/'buy and hold'/buying the dips is working out well for them. Also when vol is so low people are less attracted to day trading. Now volatility has returned and long only trading is likely not going to work as well over the next few years, he knows he is going to get more suckers signing up for his snakeoil. Nothing attracts newbs to day trading like 1000 pt daily ranges in the dow.
A few months back I emailed him asking about the results of his ambiguous goals. I never got an answer, but I did get an email yesterday pushing the new Live room/jellie/whatever.
One month to go until the Live room. The most important question from the FAQ: "Will the room provide “calls”? Years of experience in the trading world have confirmed our strong belief that the single most important element in trading is understanding the current market “bias”, which can ebb and flow quickly. As such, most of our focus will be on combining proprietary indicators, order flow, and decades of experience to establish the current bias and key low risk wholesale trigger points. While we will point out key trigger points, trade entries and exits will always be up to participating traders based on their tolerance for risk, confirmation requirement, personal financial situation, and preferred timeframes (swing vs. scalp)." TL;DR: No.... http://donmillereducation.com/donmillerlive/faq/
I had some time today and checked out his site and watched a trading video from 2/21/18. My first observation is that it appears he is trading on a simulator. Every platform I have ever traded on since I went electronic displays p/l net of commissions. Think or Swim could be an exception, I don't know. Also, he was selling into what I immediately identified as a false auction. As soon as I started following along I could not believe he was not buying the retrace or at least not sitting on his hands waiting to buy overnight into the following day. I opened my charts and sure enough he was shorting the hole. My impression is that he suffered some life altering losses, it happens and I am not disparaging him for it. Time for him to exhibit the transparency he claims to champion.
Well, I don't know about that, but there are red flags all over the place: 1. His retirement as this thread started wasn't for a good reason. If a trader is using 50+ contracts and making consistently profitable trades, why did he need to take a job? There could be personal and family reasons, but it was never explained. 2. Last summer he posted those lofty goals, but never got back to them, how much of them he actually achieved. Probably not even close. 3. Who cares about tripling a "play" account when you are trading 100+ contracts? 4. In the beginning of this year he was still making the same old mistakes, according to his blog. This happens to everyone, but do I want to be listening to a guy like that? 5. This Live room is everything but transparent. Chit-chatting about levels and such is one thing, but for god sake, why not make at least as many calls as can pay for the price of the room? 6. I am not aware of any kind of performance record of his in the last 5+ years. I understand if he doesn't want to go into absolute numbers, but not even %. And a small account just for show that he is doing good would help a lot. I used to like him, but lately he seems to be just one of the many "I made lots of many years ago and now I am cashing in on the fame" type of trading educators... Please Don say it ain't so!!