I think that people who start "prop firms" are people with millions of dollars who will stake potentially-profitable traders to trade their money. You have proven over and over again that you do not trade real money. Whether through your mirco-FX trades where you made pennies per day trying to compound for years (which you never once compounded a trade), to your binary options trades which we all warned you would fail but you went with anyway and failed with, to the 500 other trading ideas you started journals on at ET, which all failed. Now you want to start your own prop-firm, because you think, free money? Are you the guy in California who won the Powerball? You are seriously deluded in your head. You don't even know if you need to be licensed to be a prop firm. You think this is all a game. And you offend all real-money traders for even posting this thread.
Oh no!!! Not that. For goodness sake, - stop updating all your 30+ Journals - stop generating more Journals. You just need one. - stop following those trading books like Gospel truth - stop reading trading books. You have already read thousands of it already - stop worshiping those trading 'gurus'. - stop SEARCHING the internet for more trading 'gurus' - stop trading binary options & perhaps forex. But start trading those financial instruments that move tremendously The trading 'guru' is in you. You have to cut / polish the worthless stone into a priceless gem. Cleanse your mind, and start to develop your own holy grail.
If you could trade with real money as good as your demo trades, you would be trading with real money and have no need to create a prop firm. You don't seem to take any criticism well, and you will likely have a hard time retaining your employees. If you require the employees to pay you first like the "prop firm" sponsors on EliteTrader, I suggest you show them how your methods work with real money.
I'm going to assume these two questions are serious and not at all incredulous, and that you are asking them out of genuine curiosity. So then, the answer to this second question is that I don't remember. I would like to know what the circumstances were when this happened myself. It's part of the reason I have so many journals, but it appears that in this case, I did not record enough details. I would never teach the system per se (trading Nadex binary options) because I was pushing the system to the limit, ignoring standard risk management guidelines to test just how reliable and robust it really is. On the other hand, to learn how to use the system responsibly, I would need to finish writing my book, which I would not sell for anything less than $199.00, the maximum I could charge for anything I self-publish on Amazon ($200). Then I would have to pay $2,895 a month to advertise the book here on EliteTrader, which might be worth it if and when I had a successful prop firm and thought I might get signups here from enough members to make it worth the cost—but that seems like a bit much just to advertise a book probably no one would want at that price, unless it were sometime down the road and mine had become a household name because I was known for having starting with almost nothing, and yet, became one of the wealthiest people on the planet via trading Forex online. Then "everyone" would want it. However, even at this initial stage of just starting our venture with my partner in India, I'm of a mind that the system is simply too profitable to make it public for less than one or two thousand dollars. If he sticks with me, I should have a pretty good idea whether that's true rather quickly. Otherwise, I will have to wait until I am once again in a situation where I can trade full time, which is simply not the case right now, but is a MUST if I wish to execute the approach correctly, and that is the only way I will do it at this point.
this x9000. especially the last sentence. OP, you have some strange beliefs for sure. biggest one is that you think writing a journal per minute equates to deserved success. it doesn't. last bit of advice. I eyeballed your chart. you are sitting on a very sound system but if your entries are the arrows then you don't have a fucking clue how to trade it. stop journaling and go back to that image and rethink it about a thousand times because you're missing 90% of what's on there not only in terms of opportunity but also in terms of safety. my god. also, your health tips are retarded. substitution of sugar alcohols (i.e. your ice cream reco recently posted) is a one way ticket to the toilet via massively disrupted gut flora. Stop. know your limits. you think you have very few to none. you couldn't be more wrong.
Some things to clarify about how my firm will operate: Trading restrictions Growth program Target goals Participation costs (none) Payouts Resources
I made the comment on his thready but you two have very similar charts. https://www.elitetrader.com/et/threads/displaced.370205/page-4#post-5714452