LeroyB, you stated "I'm not part of his group because I would have needed massive amounts of proof to hand over $10,000. Like I stated before, I would have needed bank statement, IRS filings, trade account records. I've never seen any of these things and therefore I am not a part of his group of traders" so you really think if he had all those "proof" to show you, then he'd sell his method (which can turn a 5k account into 8 million in a month) only for a 10k to you....lol...very smart...welcome to the fairyland. "but I do like the truth" The truth is that if there is some method exists (highly unlikely) which can turn a 5k account into 8 millions in a month, it won't be up for sale to the public for a $10k. its obvious to me and unlike you I wont even ask for a proof for that. "I have no idea what goes on inside your brain...sorry." same goes to you as well my friend. "Maybe you can show us some proof by showing us the letters you (sorry...your friend) sent to the agencies that were suggested to you and their response? That might be a start of proving your claims. " I don't have to proove anything to anyone. I have nothing to gain out of this. I am sure people with normal reasoning would agree on this. I raised an issue and sought people's opnion i.e. what are the options in the given scenerio. what you think about MM or his blog is of no concern to me. I am not debating MM or his blog here. Period. lets not debate it any further...thanks for your understanding.
Which is the alternative site to the original MM web site (no more working) that currently reports his basic ideas?
Here's an update to that Market Monk character for those who are still interested. Recap: He posted a blog last spring where he detailed taking $5000 compounded to millions trading the emini S&P within a short amount of time. Market Monk is named David P. He does know his stuff but he is an extremely difficult individual to work with. I recently paid $5000 for a two week "mentoring" with him. He originally wanted $10,000 but that was too much to risk on an unstable personality. We spoke over the phone on Skype while he made market calls. I was lead to believe I'd profit a minimum of 100% during those two weeks. I not only NOT profited but I am down from where I started. Not by much but still. My greed got the better of me. The mentorship might have continued longer but David is a hypocrite of sorts: he points out your personality flaws under the guise of good training but God forbid you point out the SAME flaws in him. He becomes bratty as a first grader who doesn't get enough attention at home. Lesson learned. Trading in an individual pursuit; no matter what the gurus or say or what one may want to believe.
why did you pay him 5k after all the warnings about people like him on this site? how many times do we have to warn people. if these guys will not give you a year of their own actual trading records stay away.
I've heard similar stories about the Market Monk and this is the reason that most mentorship are difficult at best.. I had an exceptional mentor that really knew his stuff and made tons of money himself and for his fund but I still had a hard time with the material because I didn't develop it, so it took me longer then I anticipated to really own the material enough to trade with it successfully. If MM's training is good then be patient and Take it very slowly and you should eventually do fine assuming that the material is good. It's been said 100 times before but the hardest part of this business is self control and it's actually even 10 times harder then they say it is.
Hey FloorTrader, Would you mind sharing how you got hooked up with David P ?? I thought he went into exile after defrauding so many people. but apparently he is still around offering "mentorship".
Hey, Guys! Thanks for the replies. I am surprised that not only are people still interested in Market Monk but that the replies came fast. As much as I want to call him names, I have to defend him. First, I contacted him. He made no solicitation towards me. He admits he has no patience and is not a good teacher. Second, he is literally terrified of the world. He is the most miserable man I have ever met. This is what I learned: his method is highly subjective. he uses eight 20" monitors to trade patterns. I have only a single 17" so I had to visualize most of what he is saying. He uses Gann and Fibonacci S&R levels to find clusters. The placing of these levels is the most subjective. His $5000 advice? Experiment for myself. I thought I was paying him to tell me where???
I am not miserable, but I understand him 100%. It would be interesting to read his stuff...prolly a genius. As much as I want to call him names, I have to defend him. First, I contacted him. He made no solicitation towards me. He admits he has no patience and is not a good teacher. Second, he is literally terrified of the world. He is the most miserable man I have ever met.