Perhaps, but everyone has a different learning curve. Also people would latch on to those that know. That’s how money managers exist. The best of the best in the world get paid tens of millions annually to manage the billions they have under management.
If he’s right, I have a lot more to concern myself with than opportunity cost. It would be anarchy throughout the world as the flow of all the world’s money is falling directly into the hands of a few devout followers from some obscure website from the depths of the Internet.
Not really… Even if he can back up his performance claims, that does not equate to people being able to replicate them. I’m sure you’ve heard of the “turtle method” experiment, and how the creator point blankly said that he can tell people how to trade successfully but it is in human nature to not follow it… Also one would have to assume there would be intangible skills that ICT would possess and be unable to teach that also would attribute to his assumed success.
So even if he was as successful as he asserts, we don’t have to worry about financial chaos upon the fame that would follow validated performance on the scale he has claimed
I wanted to clarify my post, especially for any new traders who are reading.
When I look at my inbox, and see all the responses to questions I’ve asked from the folks that make up the ICT community, Ive gotten far more than I’ve given. Although I found it “clicky” when I first joined, I think that was mostly a function of my newness to trading. There is the very reasonable expectation that people have a basic understanding of currency trading, such as going through the school at Babypips and reading the previous posts in the thread.
It is a GREAT place to ask questions and participate. And yes, there is a feeling of loyalty towards ICT, because he has given ridiculous amounts of his own time to teach people how to sit at home and make money for free - during the worst job market in the last 80 years. It is a very positive community with awesome people.
Obviously by calling ICT “Jesse James” it was meant as a compliment. Another way of echoing that ‘he’s the man.’ Too many Breaking Bad episodes for me.
I’ve spent nearly twenty years analyzing and preparing (non trading) financial reports and worked several years at one of the large ‘market maker’ firms. I’ve (been lucky to) worked with some very talented people, who’s skills and experience were very evident. ICT has nothing to prove to me. Look at his ‘Power of Three’ video, and ‘NY Open’ video and then look at a daily bar-chart. This stuff really works, and the more you learn and the more time you spend PATIENTLY practicing, the better it gets. Self discipline and patience sold separately.
Theoretically… I would assume he would get slaughtered as central banks would intervene to stabilize the volatility he would create from trading multiple yards.
Also institutional traders would become aware of his positioning and SL and TP strategies and would run his stops.
He would have to resort to the type of trading Sorros did in the past where you wait years for a fundamental tipping point, and become the straw that breaks the camels back.
His strategy would have to be altered greatly and he may even find it profitable to trade against his followers, seeing that he would now have enough market impact to run his followers stops.
Okay folks… I think we are entering the realm of Bull and Fantasy for humor sake. Let me state something right here and for the record. I NEVER claimed I consistently turn 250k into 5 million trading Forex each and every year. I did claim however, I have made 5 million in one year and that I restart my equity base in FX to 250k on a specific account each and every year.
Read that again… it doesn’t say I make 250k turn into 5 million in 12 months every year. When I get folks forwarding this posts when I abandon a thread because of it’s Tomfoolery… it really illustrates the need for folks to draw attention. Here are the facts… the account I made 5 mil in was not a 250k account. I have several accounts and the one I manage and set 20 mil as a goal on is what is being referred to here. Please get your facts correct.
This is whatt all of you that like to lob grenades at these threads want to see… this is what you guys want to hear… in 2013 I am going to Trade a Live Account via Oanda and connected to MyFxBook for record and tracking. It will grow to over 1 million dollars. I am promising you it will happen. I am not promising you it will happen in 12 months.
ICT isn’t your run of the mill goober on a thread trying to sell EA’s for nickels and dimes. I am going to grab you by the lapels and drag you through a real world event that nobody… not one on the planet has done and succeeded before. I have no worry about saving face… because I know it will be accomplished.* I have no fear of “fading away” as it won’t be happening. I want you to doubt it… as the shock factor will be even greater than it would normally be otherwise. I didn’t build my name on the back of wiining a contest using Demo accounts and rolling dice with overleveraged Demo trades. You will see why I am ICT and not remotely close to the majority beating their chests and making claims with no “proof”.
Why do I care? Why bother? Simply put… I need to personally… I can and I will.
I have done everything I every said I would do here and else where… this is nothing outside my capability and yes… I will be all Ego and All In when I go. My modesty and mild mannered approach will be put on the back burner for a little while - while I permit my other side to run free. I will have accomplished my goals in Babypips this coming Thanksgiving… with the last of my Trading Plan Development Series.* The 12 Days of ForeXmas is just extras I felt you all would like as a year end closer.
I find it sweet to see such a polarizing over whether I can or can’t make money. I tell you where the markets going before it trades there… and at which price… consistently. Do you actually think I won’t remember how to do that over the Holiday break? In an industry full of crap and lies… I have elected to stand as the man who is willing to put it on the line and do it on a level nobody thus far has done before. Here is one for you skeptics to run with… If ICT doesn’t do it real time and 100% documented… it can’t be done.
I get a kick out of some of this posts… and yes, 2013 is fast approaching guys… Place your orders now… how would you like your crow served? Cuz’ this Big Dog can and will be on the hunt!
And here I thought I was an egomanical SOB…
ICT, you have me beat by a mile and then some. And I like it!!! A man that thinks like I do LOL
I’ve never really followed your threads before but now I feel compelled to. Best of luck in 2013. Go get 'em!!!
5 thousand into 1 million dollars is roughly 8 or so doubling periods.
Putting that into GoogleDocs, if my math is correct, would be 25 percent growth every month for two years to reach that goal. 6 percent a week.
At about 13 percent a month it would take about 4 years to hit 1 million dollars.
I’ve been only studying Forex trading for a couple of weeks and don’t have a good idea of how those numbers compare to the best and average professional Forex traders.
ICT was able to do it with a lot of equity… I want no road for Trolls to tread to answer for it… and they shall be provided a rather daunting task when it plays out. Shoestring to a mere 1 mil… Consider it done Babypips.
I know this won’t happen, but it would be so cool if ICT’s supporters could contribute to create the 5K starting balance. I would gladly contribute significantly if he would allow… I have no doubt he can turn 5K into 1M.
I agree it is probably pocket change Mozdef. I was thinking out loud and thought it might be interesting and even more fun.
There really is no doubt in my mind that ICT will be able to do this. But the thing that is really cool about ICT is not whether he can run with the gauntlet now that it’s been thrown down. In everything there is always someone who is the best, and performs amazing feats, and yeah it’s fun to watch. I think that what is getting lost, is that many people who follow ICT’s teachings see themselves doing things we never thought we’d be able to do. ICT is a millionaire, and if he accomplishes this, he will be a little more of a millionaire and he deserves it. But the special thing to me, is not just his skill as a trader, but how much better he’s made others at trading, and how achievable he shows us that trading for a living is. Suppose he did allow fifty people to contribute fifty dollars for half of the 5K, with the understanding that after the target is reached, the money is donated to a charity. I think that would be incredible fun…
I don’t mean to get things off point. I saw comments regarding ICT who I feel gratitude towards for the hope he’s given me that I might be able to make a living doing something I truly enjoy, and I saw Eremarket mentioned, who mentored me a little last December / January and I felt like adding my two cents. Even bad ideas can sometimes spark something good.
