Don Miller Trading after dark.

Discussion in 'Educational Resources' started by Eddiefl, Feb 7, 2011.

  1. Eddiefl

    Eddiefl

    What do you guys think about Millers Trading after Dark.


    Although its not how I trade, I congratulate him promoting transparency and decency in the trading business. I cant think of another guy who talks the talk and walks the walk like this. Shows real live trading and is so open about it

    EF

    http://donmillereducation.com/tradingafterdark/
     
  2. I think that he's a great guy. I think that he has alot to offer. I believe that he truly enjoys what he's doing and on top of it all; he's making a difference.

    I give him a lot of credit and I hope that he continues doing what he's doing.
     
  3. Roark

    Roark

    Who became a smoking hot trader or at least consistently profitable via his training? Is it more or less than the people that went through training at Bright and/or SMB Capital? Don't everyone rush all at once to answer.
     
  4. I like Don and his blog generally but this the whole "Jellie" thing has always irritated me a little. I remember reading that his strategy averages only about $5 per contract traded and he is only profitable because he leases an IOM seat. I'm pretty sure that if you tried to duplicate his results using retail commissions it would probably be a net loser. A more cynical person would view this TAD effort as another sales pitch to lure new traders into his "Jellies" material.
     
  5. Low comms are a big part of his strategy, and AFAIK he had a blowout year in 2008 but the rest of the time does less well, and on lower margins.

    His style of trading also seems like it'd be extremely difficult to teach, as it's based so much on gut feel, quick reflexes and razor-thin profit margins over time.

    Nevertheless the videos are definitely interesting, little bit different (more action-packed) style than what most traders I know are doing.
     
  6. Eddiefl

    Eddiefl



    These are old arguments. Yes his commission is low, but that is not the only reason he makes money. Admittingly , i dont trade like he does, nor would i want to.

    My point is that i dont see many people have the transparency he has. Good or bad, he doesnt sugar coat his trades.

    Hell on flash-crash day, he lost 60k, not many other "gurus" would admit they got hit hard on that day. Not many at all.

    I never met the guy or bought anything from him, he just seems like a decent guy that is in our industry.

    Oh yes, his pysch talk is worthwhile, its true talk from the trenches, you cant fake it.

    EF
     
  7. look, he makes very little net per contract traded, so this style of buying the edges of a sweep is only useful if you are willing to trade big size and can handle it technically and emotionally.

    very little margin for error with his method.
     
  8. lol, the same.


    You are posting too soon after your last post. Try again in a few minutes.
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    You are posting too soon after your last post. Try again in a few minutes.
    damn clock stuck again
     
  9. Very interesting how the same misinformation about Don Miller's trading gets repeated over and over again when the actual information is posted in his blog.

    In 2008 Don Miller had a net profit of $1,635,103 trading 586,184 sides (293,092 RTs). The net profit per RT was $5.58 or less than one half an ES tick per RT.

    Even if he did not lease an IOM seat he still would have made more than $1 million in 2008.

    Net Profits for the year 2008 $1,635,103
    Cost savings of IOM membership $510,051
    Net Profits (if retail trader) $1,125,052

    Don Miller is a scalper. How much money per RT do you think the average profitable ES scalper makes?

    I am not a scalper and don't want to be a scalper, so I have no interest in Don's trading courses.

    I like Don's blog for his overall trading attitude.
     
  10. Roark

    Roark

    I'm in a dark place. My mind has been poisoned by too much cynicism. I should take up smoking pot and mellow out.
     
    #10     Feb 9, 2011