couple months ago he made a post to show how he’s going to turn a couple thousand into a million…
i went inactive at that time…came back and went back to find out the post got locked…
so what happened to him? did he succeed?
[QUOTE=“NewbTrader;507077”]couple months ago he made a post to show how he’s going to turn a couple thousand into a million…
i went inactive at that time…came back and went back to find out the post got locked…
so what happened to him? did he succeed?[/QUOTE]
Lol no… He lost 70% of his account before removing his myfxbook and causing a general raucous.
oh…no wonder it got closed down…
I didn’t know that. I had bookmarked his videos to watch whenever I wanted, but they are no longer available on Youtube…
That was just another show of emotional wits against the markets. The guy went down faster than a roller coaster…
but he was like the forums guru with lots of supporters…
Yes… Shocking.
This is the bitter truth. Can be happen to any one if not stick to rules
He told them what they wanted to hear, and sadly no amount of logic or common sense is going to work on those kinds of people.
Following a few false gurus is all part of the journey, and the faster people move through that stage, the better
Hope he did not borrowed that money from a mobster usurer.
Seriouslyyyy???..he lost 70%? wow!!!, I use to luv his videos and write ups, never knew him personally but he sure was a good teacher…Thats so sad
Did he lose 70% in ONE trade? That wouldn’t seem “characteristic” of him, from what I know.
Does anyone have the details how he lost THIS much? (Just so I wont make the same mistake; he seemed more knowledgeable than I am).
I remember reading many of his posts a long time back. Did he have an agenda with his postings?
Here is Michael’s review of the first 6 months of the $5K-$1M Trading Demonstration:
InnerCircleTrader MyFxBook 07/08/13 - YouTube
[B]Notes on the YouTube video:[/B]
[B]1.[/B] February 2013 was devoted to a demonstration of trading [B]without a trading plan.[/B] During this month (actually from Feb 6 until Feb 27), 10 random (coin-flip) trades were placed. Of these, 3 were winners and 7 were losers. Two of the losers were extremely large. The total drawdown to the account was 35.77%, based on the account’s nominal $5,000 starting balance. Initially, Michael deposited less than the nominal $5,000; nevertheless, he stated several times that the account would be traded as a $5,000 account.
Because Michael actually deposited less than the nominal $5,000 at the start of the demonstration, drawdown as a percentage of actual cash deposited was higher than the 35.77% which he is reporting. This explains the nearly-70% figure tossed about by his critics.
[B]2.[/B] The period from the end of February until now was devoted to a demonstration of [B]drawdown-recovery.[/B]
[B]3.[/B] As of early July, the account has recovered all of the February drawdown.
[B]4.[/B] Michael says that his Trading Demonstration, initially conceived as a 36-month demonstration, to end with a balance of $1 million, [B]will now accomplish the same goal in 30 months.[/B] That is, the drawdown and recovery demonstration will not alter the demonstration goal, or extend the target date.
[B]5.[/B] There were some audio problems in this YouTube video, when it was first released. Michael has fixed most of the problems. However, at about 24 minutes into the video, the audio drops to a level which is almost inaudible. I don’t know whether the final minutes of audio can be recovered, or re-recorded.
I bet that’s you all giddy & excited this morning huh?
LOL.
Whilst in the real world all the emotionally stable individuals are simply…
Bored with it all
This means Mr. Michael is still on track despite suffering a little higher than 35.77% drawdown?..I am really wondering who started all the fuss about him shutting down his youtube account and myfxbook as regarding this very account.
Good to know he was able to clear the February losses he made…
Good luck Mike
So apparently he is trying to convince people that 0% gain with a 40% drawdown in 7 months is a success… with no public myfxbook… same old ICT.
don’t you think that old nag has been flogged near enough to death already?
apart from you & a couple of his original fanboys no-one gives a crap.
move on with your life.
[QUOTE=“JackMarkets;508722”]So apparently he is trying to convince people that 0% gain with a 40% drawdown in 7 months is a success… with no public myfxbook… same old ICT.[/QUOTE]
Lol right… And why take the myfxbook down? There is zero reason for taking it offline after losing 70% of his account, even less so if his reason was to show how to come back from a drawdown.
Also there is zero legitimate reasons as to why he would deposit only $2500 in his account instead of the full $5000… Except one, which is he didn’t have $5k at the time, which kind of blows the theory he’s a millionaire trader doesn’t it? As such it makes no sense to calculate his drawdown based on a $5k account when it was NEVER a $5k account.
I had said prior to him posting his myfxbook that he would blow his account and to deflect the embarrassment would claim “it was his plan all along”… That forecast was fulfilled to the T.
The summary as it stands of what happened to ICT is that after two years of talking himself up and using generic technical trading ideas to build a following of mindless sheep… He blew 70% of his account when it came time to actually demonstrate how he traded his own method. Then he rage quits. The end.
I wouldn’t be surprised at all if in 30 months ICT releases another YouTube video stating he accomplished the goal and made $1 million lol… Of course there will be no proof and you’ll just have to take his word for it 
Hey, dice-boy
Do you have a problem with me?
Hey, texass
Who gives a crap? — well, apparently, you do…
…so, which one of us really needs to move on?