Discussion in 'Educational Resources' started by nkhoi, Sep 7, 2008.
it is. Last year's total number came in at $1,635,103, wow!
He trades size.
I have followed Don for years. He is a very nice guy and he has a lot to share.
I read the blog, and posted a link to it in this forum couple of weeks ago per the conversation of using indicators for trading.
Don accomplished an incredible feat in 2008, absolutely no question about it. One detail for retail traders to keep in mind is the average profit per contract = trade was something like $3.25 net or less.
In other words, +$1.6 million on roughly 500,000+ ES contracts turned minus Don's trade costs is something less than three dollars and twenty-five cents net profit after costs. Don's CME membership trade cost per turn is far less than retailer's $3+ to $4+ average trade cost.
I think the overall results would still be profitable at commission of $3+ per contract, but obviously negligible. If Don manages to up his average profit per contract traded to roughly +$10 in 2009, he'll then accomplish something duplicatable for the average retail trader who reads his words.
BTW... kudos for a veteran "snakeoiler" (who publicly lists in the blog that one of his most proud achievements is the act of teaching others to trade) for walking his talk. Well done, Don!
Don is one of the great guys out there in the teaching field. When I first started in the "guru" biz he was a member of a room that I started out with. I only talked to him a few times but it was always an an interesting conversation that I got something out of it.
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