A friend of mine recently told me about a mentor he connected with to learn day trading (scalping, specifically). The guy trades live right in front of you every day so you can see what he's doing in real time. He posts his trade logs on his site, has nicely profitable results every day. He has a verifiable 5 year track record of success. His fee is negligible considering what you get. My friend told me that only a tiny number of traders who sign up become successful traders. Why? Because it requires a lot of work. The preparation and initial trading plan development process takes four months or more. No trading real money until at least 7 months in at the earliest.
http://protradered.blogspot.com/ Quite consistent and impressive results. 3/26 ES 10 pts 3/21 ES 10 pts 3/20 ES 25 pts 3/19 ES 30 pts Plus other gains from CL or 6E. "YOU CAN WATCH OVER MY SHOULDER AS I TRADE IN THE LIVE MARKET. I mention the entry price, the stop, the targets and exit." quoted from the site. Trades are called in real time? If it is, this guy is the real guru.
According to my friend you actually watch him trade live in real time...better than calls. But the point of my post wasn't about guru-ness, it was about how becoming a consistently profitable trader takes a lot of time and hard work, which is why db's students aren't "killing it" yet.
This just proves that people do the opposite of "let your profits run, cut your losses short" and that people want to be right
Of course, he is the one who established a strategy and mastered it, so he could achieves such consistency. For the followers, it would be a total different story for each one. There are a lot of nuances and context that are very hard to explained fully to the followers even the mentors wanted to. The best way to trade the market is to develop your very own one and make tremendous effort to master it. He is quite a quick scalper though, look at the 3-20 ES 25 pts gain, it was done in one hour from 8:30 to 9:30 in an incremental 1.25 to 2.5 pts gain in multiple trades. The consistency is quite impressive and he risked very little from what data posted on the site..
Wow so much misinformation and nobody really has a clue! That is what I love about this site... Many laughs! Just assume the market hates you and wants to kill you.... And that is not far from the truth! Hail Satan