I know better. It's funny how one's judgement is impaired when one is desperate and a bit greedy. The bottom line is David created his highly effective method when the S&P was highly volitile and it hit all his "tag" points consistently. In short, the S&P was predictible and highly tradeable. By his own admission volitility has dried up considerably. Whereas the S&P once has 20 to 30 point swing days, it now has 5 to 10 on its best days. Alas, the S&P emini is now a scalpers market. Funny thing is, the emini Russell 2000 and Nasdaq 100 DOES hit his signals regularly. He promised to call signals for said markets but never did. He is married to the S&P and refuses to go where the action is simply because he wants to trade huge contract lots. He fels the S&P is the only market that will support a single 1000 contract order reversing on 2000 contracts to take a countertrend trade. He does live with a woman (!) and seems pu**y whipped to the nth degree. Asking him to trade the Russell was like asking him to cheat on his girlfriend. As a 20+ year veteran of the markets, he still makes rookie mistakes. Most notably the emotional abuse of himself. When he missed an "obvious" signal which was a winner, he harped on it for 30 minutes straight calling himself an idiot. I wasn't paying him $400 per day to be HIS therapist. In short, I feel his lessons are easily worth $2500; not the $10,000 he thinks its worth. Based on his blog, I thought he could call market turns with pinpoint accuracy. Market Monk had the grail. Easily worth $10,000 (total price) I learned he AVERAGED a 3 to 4 tick stop loss. He did not place a 3 to 4 tick stop EACH TIME. Big difference. The latter implies a grail trading strategy. To answer another's question, Monk did take down his blog but he included an email address which I retained. I said to him I remembered his blog and would he consider teaching me his method. He told me he is interested in looking for partners read: friends to trade with. He has the temperment of a six-year-old so he will be friendless his entire life, despite having a networth of about $40 million. "What gaineth a man to inherit the Earth but lose his own soul" paraphrased proverb
Well my days of chasing Guru's is over...but an interesting character indeed...no disrespect intended...in case he is reading this...
it sounds like he dazzled you with bullshit. he did a fine job of it because it sounds like you still believe. there is a lot of that on elite. you need to see results folks, before you send in the money.
Guys...I have been a silent watcher of this forum but decided to write something about MM thinking it might help someone and may be I could manage to save some victims who still falls prey to his blog & his "methodology". This forum does a whoderful job warning people and I still regret that I didn't find this information when I needed it the most. I hate to admit this, but yes...I was one of the 12 idiots ("trading partners") in Market Monk's "mentoring monastry" which lasted for several months last year. Guys....You wont beleive this, he had people or "partners " from China, India, US in the group and some were even writing market commentaries for publications and used to comment on market even on radio. Obviously they were the first one to realize that this David P. is full of shit and quit the "monastery" at an appropriate time. Anyways, long story short....I was one of the last one to witness that his "monastery" was a total disaster and a completer failure on all fronts. We realized that all of his blogs,charts were written after the facts. he sets a target of 10 points in S&P market for the group and couldn't even make a single day with 5 points, even after putting 16 hours a day (starting from the middle of the night when London opens) for several months . All of his market calls (hardly 1 or 2/day) were totally experimental in nature. he promised to return money if he didn't succeed but only a few lucky ones got half of their money back. remaining left with tons of frustration and with their drained accounts. The coclusion is....David P is full of shit....stay away from him. Period...... Here is the list of things you can expect from him, if you are still a stubborn idiot who still wants to learn and experiment yourself. 1. Sleepless Nights. 2. Dry market "commentary" (lack of live market calls) 3. Bull crap about him & his methodolgy. 4. Tons of excuses why he missed the last market move. consider yourself luck if he doesn't blame you for that..... 5. Tons of crap about his girl friend. 6. Discussion on Vitamins & "Protein drinks" (thats how he keeps himself fits as he doesn't have health insurance ) 7. Last but not the least....your drained trading account. Good Luck....
You CANNOT be serious?!?! You actually paid this guy?!?!?!? Well, I guess there's not much left to say. If you still have any spare money laying around I have some real estate I'd love to sell you....
I also spoke with this guy over skype about 2 or 3 years ago for a couple of hours (around the time skype beta came out). At that time he didnt seem interested in taking peoples' money in exchange for training (but I wasnt interested in giving it). In fact there was a post on a trading forum where he was actually offering to share his knowledge and experience if you could pay for a hotel and spend time in his area. Why in the world would you pay him money if you believed in his learning/trading style?... you'd be sitting in front of a screen watching charts and not relying on some imagined Guru for results. I can't vouch for the guys trading performance or net worth, but his personality seemed pleasant and aimiable enough to me.