Looking for people that have done the DNA, SMB Foundation or the Sang Lucci Master course. I would like to try one of these out, but would like to know if they have helped people improve on there day trading. Thanks
Was listening to Chat with Traders podcast with Sang Lucci. Apparently his hedge fund blew up and now he's in Puerto Rico, trying to start up another one. Was saying it was better for traders down there cuz of the tax implications. He's now "toned" down his cowboy trading methods. The dude is a lark. I wouldn't give him a dime. He's only a bit more likeable than Tim Sykes. But based on results, is just full of hot air.
I listened to several podcasts with him, then several of his buddies. Probably THE worst sounding group of people I've ever heard. They kept talking about "lifestyle", didn't want to discuss shit about absolute trading methodology or anything related to it. One guy was supposed to be the master of VWAP, and every time that Chat with Traders podcast guy I think (the Australian one, anyways) would ask him ANYTHING about it he would deflect and say just contact me for some free lessons. Listening to those podcasts where the final nail in the coffin that made me realize almost none of these guys know SHIT, they are all scam artists out to get your money. Can't believe anyone gave "Sang Lucci" enough to start up a real hedge fund - not surprised at all it blew up...
Sykes was just plain offensive and the moronic factor just dripped out of him every time he talked. Much like Trump. Lucci was entertaining in the beginning since you didn't know if he was for real. He was loud mouthed and vulgar but seemed to show something when trading options (operative word is seemed). Unfortunately this type of trading mentor can be the worse kind cuz he will suck you in and before you know it you lost a ton with him. The hedge fund backer had to learn the hard way.
Sang Lucci on Chat with trader said that pro traders file taxes in the US once each year. Any real trader that has turned a profit over $1k would know that you file each quarter or will pay penalties. Say you made $1M, if you don't pay the quarterly estimate you would have to pay about $40k penalty.
Thanks Jack, you bumped up an old thread from 2018... the fuck? That said, Sykes is all grown up now. I remember watching him as this little kid on that Wall Street TV show. Turns out later that a lot about him in that show was exaggerated for TV. Kinda like all reality TV shows are bogus.
Exaggerated? Sykes was a petulant kid who got lucky with the market. The show accurately reflected that. Some of the things that came out of his mouth on the show was cringe-worthy. But with time and age, the dude did figure out the easy money was in selling "knowledge". He also piggybacked on success of guys who did figure out how to trade, Kellogg, Dux, Grimaldi (sic). So in the end, I got to give him credit for being able to stay in the game.
Yup, those who can't do... teach Up until the start of covid, there was a 10-year period where all the guru hustlers were selling ForEx trading rags-to-riches scams. Then it changed to equities and options. Maybe in a few years they'll all rotate into peddling crypto or NFT-trading courses, with a re-hash of everything from the initial ForEx bullshit thrown in.