I did read some of recent dicussion about him on another thread but it seemed to go off the original topic. I too was one of the many readers of his blog and felt somewhat decieved-only because thru out the year he bashed traders who charged to learn-so therfore I felt he was "pure". But i guess he turns out to be human like all of us-so came up with a way in the begining to make a lot of $ for himself Does anyone else feel the dissapointemnt like me? And then again why should I be? Many people put down $10,000 hoping to sit next to one of the great poker players (and maybe learn something and I'm sure most dont) This Jelly project doesn't seem much different...
I don't think he ever did that (bashing, that is), specially that he had his CD selling website up all the time through the year. (and that qualifies as charge to teach) Maybe the impression what he was giving out was something like that, but I doubt he ever BASHED teacher-traders. Let's do the math,shall we? He made 1.6 million or so last year. If he gets 10 Jellies for 2 months for 7.5 K each (and he does) that is 75K x 6 = 450 k annually. So he has just increased his possible annual profit by 25%. And the teaching profit is way more sure than the profit from trading. Let's say you are him, wouldn't you do the same, assuming teaching doesn't interfere with your trading? If people are lining up and willing to pay for the education, why do other people care about purity and other shit? When a guitar player who sells his music also gives paid lessons, do you complain about that too? If the students learn something, good for them. If they don't, well, they deserved that too... This is a good analogy and point and the students should realize that just to get the inside info of a trader's mind doesn't automaticly makes them a profitable trader. But that is a risk what THEY take, not we.
It's been years since I've talked to Don, but way back when he was "Badger" at MTrader he and I had a number of great discussions about te market. Don is the real deal and someone who is well worth learning from. Brandon
He is just another snake oil salesman. Trading is one the easiest things to teach and one of the hardest things to do. If you are really making 1.6 million a year doing discretionary day trading, then you do not have time to teach dozens of people at the same time. No way.
Not at the price he wants. Perhaps he is the "real deal" as a trader. But anyone who wants to be a jellyfish has no idea what they are doing to begin with, so it's like watching sheep march off to the slaughter. How do you genuinely tell people about the massive commitment it takes to be a trader, then tell them that they just need 8 weeks "in the tank". Don may be a decent guy and trader, but he proves that all the "public" trader personalities end up being a disappointment. Don has a seemingly great blog for a year and then goes for the easy money . . . fine, but don't tell me it wasn't planned from the start. How about this . . . day one you tell people that you're creating a blog as a personal diary . . . and if it goes really, really well after a year, don't be surprised if I want to sell you something. Why does everybody feel they must mislead others? Keep trading. JS
So this 'jellyfish team' are his students.. Seems like there is no end of suckers willing to pay thousands for snakeoil. 20 students at 7.5K each = 150K for two months. Rinse and repeat. Why bother trading when a desperate bunch of gullible fools will pay you 75K a month just for talking.
If I had to choose one, it would be the above, he will at least make you look at the markets in the right perspective, whether or not his students will continue to do so after the course is another thing. :eek:
He (Don Miller) said that there would be a fee but nothing that would make your eyes bug out. Mine almost fell out of my head when he wrote eight weeks would cost $10,000 but since this was the first time it would be $7500. So if this turns out good for him it will cost you $10,000 in the future. I am sure there is a lot more out there to sign up for the next one. That being said, good for him. Isn't the Free Market wonderful? I would do the same thing if I could.
How much will you pay if you can learn how to make 1.6 mill per annum in 2 months? ROI 1,600,000 / 12 = 133333.3333333333 per month 133333.3333333333 / 4.4 = 30303.0303030303 per week 30303.0303030303 / 5 = 6060.606060606061 per day so ROI 2 days. Sweeeeeeet! P.S If it turns out to be 100 time worse then ROI 200 days. Now if it turns out to be 1000 times worse it gets rough at 2000 days.