Does anyone really make money trading futures?

Does anyone really make money trading futures?

I am just wondering.

I know I don't. I have tried all the indicators and the chat room gurus, and none of them make money.

I have a suspicion that a lot of the chat rooms for emini trading are just for hobbyists and market enthusiasts and not for serious traders trying to make a business out of trading.

For any new traders out there please be very cautious of paying anyone to mentor you or signing up for training or a chat room. From what I have seen the only people making money in these deals is the mentor, the chat room owner or the author of the training manual.

I would love to hear from you if you are a successful trader making 20% off your account or better over the past year. I know only 5 to 10 percent of traders are supposed to be successful, but I am beginning to think that zero percent of traders are successful over the long haul. Certainly anyone can have a streak of luck and rack up a few good months where they dramatically increase their account size, but these people are normally big risk takers and eventually they blow out their accounts by taking the exact same risks that help double their accounts in the first place.

Thanks in advance for any response.

WOW! Like they say any press is good press keep up the good work Voodoo.

KBI the room won't be open till Monday morning on the 14th. It will be open at least 30 min before the mkt opens to answer some questions and to explain how we trade. How we take profi trail contracts and set stops. We will not be answering many questions while we are trading.

Anyone is welcome to record or copy any text as well as keep track of the trades we make. We are going to treat this as any other trading day between the two of us the only difference is that we are letting anyone interested to eavesdrop on us.

As I mentioned very early in this thread I belong to a small group that uses Skype to trade. When I called trades before I did so out of my group and was letting them down by not trading with them. Now that Fred is interested in letting others listen in I can keep my commitment to him and at the same time help my handful of students by allowing them to watch me trade and to learn more about my thought process. I also can trade as normal so I can keep my family fed. This is a win win for me.

I will not be teaching again. Teaching requires too much down time from trading and is more responsibility than I wish to take. Everyone I taught is making money as far as I know. How much varies by individual. It is my hope that by spending a week of calling trades they will be able to better understand and make a faster improvement.

This room is for those that want to come and listen. I wish I had found a room that just called trades when I was starting out. Others no doubt will find no value in it. No matter how good the calls are I am sure some will find fault and claim that they are better,smarter etc. More power to them.

I am not recommending to anyone that you take our trades. Some trades lose money.

By all means burn me at the stake if I make an offer to teach my methods to anyone.

Very well explained, hunterone.

Just as I was one of the first to want to watch you trade on Skype, I would also like to listen in on this a bit, but I have one reservation. Since you said you aren't a tech guy, this is addressed at anyone else who can answer this.

I know PalTalk is immensely popular with traders, but I have seen a lot of reference to it installing spyware, and creating all sorts of computer issues. An extensive search on the Internet left me with no firm conclusions. I know many have had zero problems and love it, so pointing that out is not really adding anything I can use. Has anyone had any bad experiences, or can anyone reference a trustworthy link that verifies some issues with it? Some of the talk out there is pretty scary, and I've avoided using it all this time. Are these warnings credible? Even McAfee Site Advisor, which many feel is not accurate on some of the calls it makes, has a warning on it.

Hi Everyone,

I am responding to this thread and identifying myself as one of hunterone's students. As such, yes, I am associated with hunterone and am prepared to be the recipient of more insulting comments.

I have been 'lurking' but have not posted until today, partially due to the hostile comments and replies that seem all too common (though some harsh postings appear to be justified). In hunterone's case, however, I am amazed by how vicious some posts have been.

I can understand the skepticism. You can call me a 'sucker' (or any other derogatory name of your choice) for signing up with hunterone - but unlike my previous training, hunterone provided a methodology with no false promises. He is very genuine and has spent much time with me for which I am grateful.

What surprised me most by some replies to hunterone's invitation to observe him and his colleague trade, is that people appear so eager to discredit him when he isn't asking for money or anything else for that matter. Moreover, instead of solely inviting his students, he is opening the room to everyone.

Don't come, if you feel so strongly about this. Boycott him, if you believe him to be charlatan. I, for one, am excited about next week.

I will put my 2 cents in

I told all YOU GUYS YESTERDAY...SIMPLE MATH...1425 AND 1435...I MADE MORE MONEY today than I made all month. But I'm not selling any courses...hell not....There is no one on this site even those course purveyours told YOU that....1425...1435...when we at 1385.

NO indicators, no diagrams...no nothing....hmm...MAYBE i SHOULD BE on Pal...NOT....never.

I know all the guys..sc**s on Paltalk...I began paper trading in oct 2005..live in May 2006....tremendous big losses...listening to Paltalk gurus..some still posting here.....and others..Jay double nickel...lives in a trailer...enuf said...on and on...ONly decent guy is Steve at Twaves...I dont use him...at all..but if you want to take calls here is a start. He trades too much for my liking..but he the best on Paltalk...by FAR...better than those course sellers here..name after the alphabet F...figure it out.

All those purveyor of courses..really. Why doesn't Warren Buffet sell a course...but he tells you a lot in his FREE reports and all the information out there...on how he does it.

I'm only here becuase I like Bruce M, Gio I'm a new fan..and daytrading has allowed me here. But, I have my own style of trading after many losses and hours.

Just think. If the guy selling you a course..could make $$$$ no problem...why would he be informing a 2 bit person like YOU and me.

Right now I am looking to trade for a hedge fund, bank, pension fund, trading firm, Sovereign firm etc. Why would I sell you a course..when what I know can make me millions....I want to use OPM to make millions..not sell courses...Think..it isn't illegal yet.

All you new traders...Do not buy ANY COURSES. Look at charts....just look at them.....you do not need indicators...and all that bs...Simple makes money....Confusing..you rely on some else..and lose. big time.

For any new traders...just look at a chart...get away from minute charts and all the bs you are told.....look a longer term...and ???

well you got to do some work.....spend 5,000 hours or more..and you will get it...

oh btw..you will never see me on Pal or sell courses.

Best

I'm still confused on all of this! Why did you decide to teach people for money when you could have accomplished the same thing by posting here on the forum? I asked you this before Hunterone and you didn't address that. I'm trying to keep an open mind on this but it seems strange to me.

You can still answer questions, still trade your account and still train people/help out.

Bruce

Reese1017,

Did Hunterone, provide you with any trading account stmts before you became a student of his or did you just believe that he was taking all the trades that he might of called in the room?

System vendors also have a famous saying, well i makes money with my method and the student cant, then they look for faults in the student, o cant pull the trigger, cant read the 5,3,3 and 9,3,3 stochs setting, cant read multiple retracement areas, cant read mkt. profile etc, etc, etc. But again the vendor is clearly safe b/c he never proved that he ever made money over a long period of time with his system.

If hunterone did not show you account stmts, what proof is there that he can pull the trigger, talking a good game is alot different than playing a good game, hence monday moring quaterbacks?

How much did Hunterone charge you to become a student?

the reason I ask the above questions is b/c here is hunerones own quote:
I base this on the fact that I have been trading 21 contracts on the e-mini for several years usually only trade 3 hours a day and avg $267 per contract per day.

Most people will defend the system vendor after purchase b/c it is human nature, you dont want to feel like a mug thats been taken. When you go buy a new car, the dealer always calls for about a month after purchase b/c its called buyer remorse for the consumer.


If anyone believes that I am bashing hunterone, please let me know and I will stop asking questions that I believe to be viable. In hunterones' own written words any press is good press (wonder what he is impling to0..lol)

I'm personally in no mood to get into all of this but it seems that the same could be accomplished here without paltalk etc...

I will have to assume that you will be going over specifics for free in your chat room but then this wouldn't be fair to people who payed....did they pay?

I would anticipate that you will cover the following in detail: ( this is based on the 45 minutes I sat in Hunterones room before)

1)Specific chart settings and how you look at your multiple time frames
2) Your specific divergence techniques
3) Specific use of MP and Fibs

Otherwise you are just announcing to the forum another " watch me trade" session....and perhaps you may not be teaching again yourself in the future but one of your partners could step up to do that and you folks split the cash....It would be nice to not have this be a big advertisement.

I was really hoping you would have come through for us here on the forum...it's not too late.

I'm not bashing we all just want the truth if there is any to be found out here in cyberspace

Bruce

Bruce,

You make some very valid points and I have seen you several times ask hard questions of vendors and I see you are taking a softer approach..lol. In cyberspace everyone can pretend to be someone that they are not, there is no verification. Reese has only 1 post and has come onto this forum after supposedly purchase, defending hunterone, which may be suspect, but everyone has go to start at post one. With that being said, will Reese answer sowm of the questions posted to him above? I have not altered my line of questioning at all with Hunterone, show as the money...lol

Remember be carful who you meet on the internet..

I wouldn't be that concerned but once the idea of charging money comes in then my blood pressure goes up.....I obviously had misread Hunter ones original intensions..I thought he was just looking to help some folks out...and perhaps he is......I still want to know if he charges money?

Bruce,

The typical MO, for this sort of stuff is: o look at me I make money trading, ok let me set up a free room, and no I wont take any students. Then comes all the great paper trades in the room that are sucessfull but the mentor doesn't take the trades b/c he can't for some sort of reason. Then the mentor gets private pm's, o please take me as a student please, and then sucker is parted with $5k.

I consistently profit from futures/futures options, but it took me a long time to figure out the best way for me to do so.

While a set of trading rules is very important, I have found that it is just as, maybe even MORE important, to develop "trading callouses" from getting your butt handed to you repeatedly along the way.

Here's the thing: Any set of rules will only work until they don't. It is normal human psychology that there will come a time (again and again) where you deviate from the rules because A) you have had a string of losses, B) you have had a string of wins and now you have a loss and can't believe you're really supposed to "lose this one," C) you get greedy, D) you get scared for whatever reason, or E) any one of a thousand other things that will cause you to screw up.

I had ups and downs for many years until I thought I had it figured out and had a couple of years of really solid profits. I had my own private island picked out :) (not really, but I did have a condo in mind O/N an island). Then came the financial crisis of 2008 and I learned that while I had a generally good strategy, because times were good I had not developed an appropriate risk control system.

Hundreds of thousands of dollars later... (and that didn't take long at all!) I learned the hard way that my strategy was woefully inadequate when the unexpected happened. It took me a while to brush myself off, but eventually I did.

Since sometime in 2009 my cumulative returns are somewhere around 450%. Over the past 9 years I've found that proper risk control continues to be where I tend to fall short, so I've had some choppiness during this time. About two years ago I tightened things up some more to try to make for a smoother equity curve... this mean that, theoretically, my losing months should NOT be as large as in the past, but my winning months will also not be as large as they were in the past.

That's okay though -- even my cumulative success over the past 9-10 years, when averaged out by month, comes to < 2% a month. I suspect that 2% a month, long term, is about where I'll stay, but the ride should just be smoother along the way.

A return like that may or may not be enough for a particular person--it is for me--but keep in mind if you want to shoot for the stars there's a really good chance you're going to eventually crash land back on earth. It really does come down to being adequately capitalized and having a reasonable return be "enough" for you. By all means, trade even with a small account, because you need that experience to get to the point where you'll know what you're doing when you have the larger account. Just don't expect to turn a tiny account into a massive one along the way or you will probably be disappointed.

-PDG