Real Estate Dubai

I have challenged myself to generate a side income with somewhat low effort. This is my attempt at it. And while I am still bleeding losses, I am convinced it will turn around at some point, because I am very much aware of all the mistakes I have made so far to get into these losses and all I need to do is to fix them (which is hard, admittedly).

Options Day Trading

Expenses include trading losses, fees for the X10 Day Trading group, and trading tools like TradingView.

If you have played for even 15 minutes with ChatGPT, you know we are in for a ride. Since I don't want to fall back into an average lifestyle (where "average" means what most people will statistically do), I started thinking about how to best prepare and position myself for a millennial change in the world.

When thinking about these, I didn't focus on any particular technology. But the most pronounced use cases are the following:

Language models: Interpreting text or speech, communicating like a human being (e.g., ChatGPT)

Generative media models: Tools that allow you to create or edit images / videos, sometimes integrated with language models to be used with text (e.g., Lensa, Stable Diffusion, Mid Journey)

Image / video recognition: Has already been around for decades. Face recognition and security-related problem-solving. Mostly a use case of machine learning

Audio recognition and generation. Nothing new here. Any call queue can recognize your speech, and podcasts are spoken by an AI voice.

Machine learning: Analyzing and producing data, which then often is used by other tools or helps with decision making (e.g., TensorFlow, PyTorch)

Assuming AI tools will achieve near-perfect results in the coming years, here are 5 ways to make money away from the impending danger AI brings to the economic market.

There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again.

It may sound surprising, but day trading will likely survive AI for the following reasons:

There are already many algorithms and trading bots, and it's otherwise massively "softwareized". And yet many human traders are making big bucks from manual trading. Adding any AI is, at its roots, just another algorithm added to the mix of the countless algorithms and programs that already exist. It may out- or underperform by a fraction of a percentage, depending on how the model is trained, but there will never be any code (or human judgment) that will attain perfection. Markets are driven by people, and their money is underpinned by fear and greed.

The stock market attempts to predict the future at a particular timeline. Unless humanity teaches AI fortune telling or time traveling, in this area, an AI should not be able to attain a more significant advantage than any existing arbitrary algorithm: You can teach and recognize patterns, but because of how diffuse the environment and future are I don't see AI taking over. Some algorithms strive to manipulate the market more than to predict it, which has a much better chance of success.

Not only is the stock market the attempt to predict the future, but it's also the human sentiment that decides about the perception of the current state of the market (or single companies) that extrapolates to how well the market will do after some time. So the human factor, by definition, is part of the stock market and its evaluation. There is no way to remove it without transforming the financial market into something entirely different.

The markets operate under uncertainty (as the future is uncertain). If you reach certainty in predicting the next move, it would just make the markets obsolete. If there is a way to know where it will go, why would anyone stay in the market (you can only take money from someone who misjudged the market, but if you can know where it goes, why would anyone end up taking losing bets)? Anyway, it would be nice to finally find a working glass ball!

Lastly, the best traders always have described trading more as an "art" than a "science". It requires a significant degree of subjectivity, and a computer program, even AI, will not be able to achieve that in the nearest future.

If you're interested in learning to day trade, check out this article in which I describe my experience from a trading signal group.

If u build furniture, cut stone, set up solar panels, or renovate apartments, AI will not interrupt you. Watchmakers, Yacht builders, decor creators, and many others have nothing to fear.

Even better, people are getting lazy. Handicrafts got a bad reputation over the last few years, and now everybody is sitting behind their office desks. Nobody wants to get their hands dirty. If you have a talent in the field or are building a career here, don't give up on it. I don't see how AI could disrupt the industry, and I have heard from people I know that the demand is on the rise while the offer declines. As a result, unexpectedly, the prices spiral into the sky.

Surely AI won't be able to flip physical goods. It may start helping you in the process of doing so, like finding the right products and deals, but the main challenge is still safe from AI influence.

Dropshipping and (online) stores selling physical goods will be just fine, while AI will start creeping into the supply chain and process management.

Whether you are an owner, buyer, or agent, real estate is one of the most AI-prone industries. You have a property and want to sell or buy it to make money. For that, you will always need to go through people, be it the buying process, solving legislative issues, negotiating,

Apart from the data it may use (again, AI may creep into sub-processes), this industry is vastly disconnected from any digital influence at the battle line.

Especially AI consulting, but also general consulting should be fine in the future. The moat consulting has against AI is that it is firmly based on inaccessible personal, often publically undisclosed experience. Further, this experience must be applied to the client's unique and specific situation. The consultant needs to identify the critical aspects case by case, which may fall prey to AI's ignorance.

Since the currently emerging AI models infer their "thoughts" mainly from a range of publically available content (e.g., the internet), I don't see how an AI can give anyone that specific, unique, and valuable situational advice.

Find the niches in your profession that will survive and get a massive push from shifting market economics. They are everywhere - you can not deem a single industry entirely to death or prosperity.

Let's take photographers as an example. With projects like avatarai.me and profileme.ai, it is clear that many photographers are fucked. People doing real-life photo sessions to take pictures for your LinkedIn and Instagram profiles will suffer immensely.

But then there will be some distinct niches that will thrive. Two examples are wedding photographers and passport studios:

An AI can't be physically in place when a wedding is ongoing, so a human person will always be required to capture real emotions in the moment. Wedding photographers are safer than you think - at least from AI.

Passport studios are also fine since it's unlikely that governments will allow computer-generated shots to be used in passports anytime soon. Instead, they may even start requiring a certification that confirms a photo has been taken in real life in a local passport studio to prevent people from even trying to hand in an AI-generated shot, no matter how perfect it turns out.

Even copywriters Yes, informational and educational content will take a hit, but corporate content? Enterprise blogs could easily experience a considerable revival. You would need a human to refer the emotions of using your product to an audience. There is nothing to research and rephrase for a language model. The same goes for testimonials. An AI can not write a review for a product or service because it has never been able to use it. It may summarize existing reviews by extension, but those must always come in first.

These super niches will thrive with the advance of AI, and you will be able to find them in every industry and profession. The landscape will change, and we will find new exciting opportunities that did not exist before. But you must start thinking and searching for these areas now and prepare to switch if you are not yet specialized.

Let's step away for a moment from the idea that you need to hedge 

 AI and instead consider letting it work 

 you. Now is the time to gain an edge over those who hesitate by embracing.

Especially if you are looking to improve your communication, for example by producing content, AI is an excellent opportunity to boost your output in many ways. It can help you with inspiration, give you first drafts for whatever you want to create, and speed up processes.

While people (or companies) miss entering the space, riding the wave of AI may be one of the safest and best ways to capitalize.

As AI becomes more capable and integrated into our world, I view it as an immense boost to our social output. Everything that can be used as a teaching resource for AI and is below average will vanish. The conclusion is that talent and dedication that qualitatively outperforms AI will thrive, and smart people will find ways to enhance their work with AI. That sounds quite favorable to me.

AI proof ways of making money

My phone rang less than 5 minutes after I had sent the second application on my first day in Dubai. The caller id showed the name of the company I had just applied to.

For the past 15 years, I have worked as a freelance software engineer and occasionally as a consultant. In October 2022, after concluding another client, I took a break. I wanted to pursue some of my own side projects. Two months later, I decided that I wanted to try something new. A fresh beginning, a different challenge.

"You are very lucky", the voice on the other side said. "We usually don't work that late on Fridays, but we just have had a meeting, and I checked my emails a last time after that."

Two days later, I was interviewed at their office. Another few days later, on Friday, I received an email reply: "It was a good conversation and gave us an opportunity to know your skills. Unfortunately, we regret to inform you that we will not be taking forward your candidature for this position."

Fun fact: I have never, ever worked for anyone before. I have been self-employed for as long as I can think, and I have never gone through any interviews.

Who gets a phone call with the invitation to an interview within 5 minutes of sending an email application, on their first day in a foreign country, in an industry they don't know shit about? After what had felt like fate in the first moment, reality caught up with me: This wouldn't be easy. Or would it?

Fast forward, I got hired by the company I had sent my first application to. After only 19 days, 30 applications, and 3 interviews (two of which were different stages at the same company I am now working for), I became a real estate agent in Dubai. Again: I have no knowledge about the industry whatsoever, do not even own a diploma of any kind, and have been in only IT my whole life.

First, this story should show you that you can take on any challenge in life, such as a career change. You don't need prior experience, knowledge, or certificates (unless you are going for significant positions in medicine, law, or such, obviously). I hope this serves as a strong inspiration and motivation for you.

If you want to find out which secret techniques I applied to get a job as a real estate agent in Dubai in record time without seemingly checking any requirements, buy the "Get Hired!" guide here.

Looking for a career change?

The second benefit for you is that you may consider doing the same thing: Selling real estate in Dubai.

At the time of writing, the war between Ukraine and Russia is ongoing. There is fear of recession and other economic impacts that may force potential customers across all industries to cut their expenses (e.g., you). Massive layoffs are rattling through large enterprises.

Meanwhile, Dubai is glooming. The wealthy citizens of Russia and Ukraine are fleeing here for obvious reasons - they love Dubai. But many Europeans also increasingly abandon their countries as more strict and abusive tax laws and social deterioration advance. For example, Germans have passed Russians as Dubai's number one property buyers. No wonder, as by now, you read weekly about robberies and exploding ATMs in your local German area.

But, of course, it's not only preserving wealth that draws people to Dubai. First and foremost, people come to create wealth. "Go where the money is", as many successful people will advise you - and the money is in Dubai. There are countless opportunities in the most versatile industries and niches, the entrepreneurial spirit is high, the bureaucracy is at a minimum, and the tax advantage is obvious. Of course, along with all these perks, you will also run into scam artists and other dishonest folks, but I guess you can't have one without the other. Ultimately, Dubai has become one of the largest and most serious business hubs, with a strong emphasis on crypto, real estate, cars, and other luxuries.

In general, real estate in Dubai is projected to grow by up to 43% in 2023. It's one of the last safe havens for your money while stocks, crypto, and even luxury watches are crashing in real-time. Therefore, it's a win-win situation for buyers and sellers of real estate here. Demand and supply are both snowballing, but demand moves notably quicker for now.

As this website focuses a lot on making money, here is another valuable bonus lesson: You know the saying, "in every crisis lies great opportunity"? Although this is only one of many opportunities, it is definitely one of the biggest ones I see. It's big money. Driven by mighty forces like politics, wars, and markets. Suppose you position yourself correctly for the coming years and are determined enough. In that case, this is one of the best chances to preserve your financial livelihood and build it into generational wealth.

And if you have doubts, you may at least subscribe to the newsletter to get new, authentic updates on my real estate journey in Dubai. Just don't get mad if you realize I was right about making big money in one year.

Conditions of working as a real estate agent in Dubai

Let's take a look at the conditions I have to work under.

First and foremost, there is no fixed salary. Zero. This is not for you if you have no cash to survive for a few months.

Commission reaches from 50% when you start to 60% after your sales volume hits specific targets (which I still need to find out).

Here the agencies distinguish mainly into three categories: You can either
1. sell on the primary (off-plan)
2. sell on the secondary (on-plan) market
3. or find tenants to rent out your properties

Off-plan properties are properties that are being built (developed). They are usually higher priced and commissioned but (I am assuming) harder to sell. The total commission here varies depending on the investors and developers between 3% and 6% (of which you will share 50% with your employing real estate agency).

On-plan properties are already built and potentially even have had people living in them. This is what you would imagine real estate agents commonly do.

Example: You sell a property for 5,000,000 AED (1 USD is fixed at 3.67 AED). Let's assume the property has 5% on it, which makes a commission of 250k AED. 125k AED (~$34k) of those are yours.

I examined a large online marketplace for properties and found that the real estate agency I now work for had a listed average sales price for properties of 5,350,000 AED ($1,450,000). The median price was sitting at around 2,125,000 AED ($580k). This data is dated from the very beginning of January 2023 and only represents one specific company. It will likely vary for you but should give you a fair idea.

During the three interviews I've had, I got the following estimates: During the first year, a real estate agent will **usually** make about $100k. At the same time, one of the interviewing parties disclosed they had made $900k in their last year as an agent.

Making just $100k per year is a severe pay cut to me. I still decided to go for it because I won't stop at this average number and intend to shoot far beyond. In a job with a fixed salary, I wouldn't be able to do this, but in a commission-based career in this industry and economic outlook, I am willing to take 100% of the accountability for the end result. It's up to me to take action and influence the number to increase. And that one agent had gone to up to $900k tells me that it is a realistic target, even though it had taken him 8 years.

Since the job doesn't offer a fixed, stable salary, I need to be able to provide for myself for a limited amount of time. I was told that you usually will have your first sale after about 3-4 months (which aligns with the public data I found).

The bulk of my costs living here came from the rent. I rent the first months on Airbnb, which amounts to about $2,4k / month. Even without Airbnb, it is expensive, though, so my impression.

From examining a popular online real estate platform, I found that the properties of the company I started at were listed for an average duration of 109 days. The median was 88 days. This data is dated from the very beginning of January 2023 and only represents one specific company. It will likely vary for you but should give you a fair idea.

Other than that, life is not particularly more expensive here than elsewhere if you don't make it so intentionally. Food, whether in restaurants or supermarkets, is maybe even cheaper than in major cities in the US or Europe. Public transport will cost you a measly $2 per ride, and you can save if you buy weekly/monthly tickets.

There is also Uber and regular Taxis (both priced very similarly). I paid 160 AED (~$45) for a ~30 minutes ride of ~35km, which seems reasonable. Remember that this can, of course, vary based on demand, time, and traffic.

Coming from Germany, most things (again, except housing) feel slightly cheaper than they are in Germany.

It's an average 9am-6pm office job with occasional client contact when a meeting, presentation, or dinner is planned. Saturday is 10am-1pm. 30 off days per year, plus Sundays and public UAE holidays.

But in the interviews, I've been told clearly, that it's more of a 24/7 job. It's all about communication. If a prospect is gonna call you at 3am at night and you hear the call, you take it. Not even because you're obliged but because you want to make the deal and get your commission.

If you still need to become a resident of the UAE, the agency will usually sponsor your work visa. They will also provide training for you. I don't know how much these conditions differ across agencies, but the schooling is free unless you resign within the first 12 months - in which case you have to pay for it 8k AED (~$2,2k).

If you don't have it yet, you must also get a RERA certificate (this is the local real estate agent's permission). I've been told it costs around 2,5k AED, but you may want to confirm somewhere because I found slightly different information on Google. The company also will pay for your health insurance.

Other than that, it's pretty straightforward.

The chart below factors in mostly living expenses, e.g., one-way ticket to Dubai, Airbnb, groceries, and other necessities. I would have spent most parts of this anyway and not specifically for the challenge. Still, in the face of the context, it seems valuable to record my personal, actual living costs here in Dubai.

How I became a real estate agent within a month in Dubai as a software engineer

Are you ready to change your life once and for all? Achieving financial freedom? Abusing the experience of four professional traders and starting to learn about the financial markets is one of the best (and interesting) set ups you may ever come across.

Does the value justify the price?

Is $7,000 a lot of money for you?

You don't have enough time

Can I trust Wolf of Dubai?

This is too good to be true

Join X10 Day Trading Today!

I've always been intrigued by day trading. My first contact point was with crypto around 2017/18. I made a 3x on about 13 Litecoins, which amounted to a total of ~$5,000 at the time, and got super pumped. Later I realized I had to pay taxes for that sell, so real $ money wise I still lost.

Anyway, for a few months, it has been a magical experience. Interesting to learn as a skill, nerve-wracking, uplifting, and devastating as an activity, all at once. But I did make a rational decision to stop (because, at the time, I was making just about the same as if I would hold, but generally under excessive stress and time investment). Day trading wasn't for me, I concluded.

In 2021 I stumbled on an account on Instagram: "Wolf of Dubai". Danny, as is his real name, started day trading, moved from Germany to Dubai, and is now making millions. Soon after my discovery, he released an options trading course: "X10 day trading". I am usually not easily convinced to buy any program, but I did in this case. He seemed trustworthy and genuine to me. And so I became one of the first members of Dannys' group.

Let me go quickly over the course. In the beginning, it was somewhat the main product anyway, or at least that was my impression. The group signals seemed more like a bonus (although they were why I bought in). The video material will guide you through options trading essentials to prepare you for making your own first options trade. Danny would often deviate to a wide range of topics. Long-term investment, specific stocks like Tesla or SPCE, psychological lessons, statistics, finding value, and a dozen more things. There is actually a lot of video material.

It's not particularly bad, but since I was already very interested and even actively engaging in investment (not day trading!), most of it seemed obvious, like common sense, or was already known by me. Personally, I would say the lessons are shallow. But they also acted as a valid primer and mechanical preparation for the actual day trading.

If you are considering buying x10 day trading for the sake of the video course, I strongly advise you not to. Going down the "stock investment" rabbit hole on YouTube will save you a few grands and educate you at least as well.

The main traded symbol in the group is $SPY. That's an exchange-traded fund that effectively represents the S&P 500. There is an additional upsell for random stocks (I don't know the current price).

Further, Options are the only instruments used to trade.

My personal journey and experience so far

The purchase of "x10 day trading" also grants access to the signal group on Discord, and that's really where the music is playing.

At first, I didn't trade or engage in the group. I played around with the broker (my choice is IBKR, which Danny also uses and recommends) and paper-traded. You could say I was mentally preparing.

However, on my to-do list, there was a task glooming, "Make first real trade with X10 masterclass", and the deadline was approaching. So I charged up my account with $2,300, opened Discord, and started observing the messages and stock charts for a few hours. Finally, when I felt aligned with a signal call, I pressed the buttons.

I barely knew what I was doing. The mechanics of pressing buttons were slow despite Danny having explained the usage a little bit in his course and me practicing the interface in the paper trading account. But finally, the message popped up: Contracts bought. Done.

I anxiously kept looking at the chart, not missing a single tick. It went in the wrong direction. I was losing money in real time! But I was already in, and I had to follow the trade down to a tee to know if this was a legit way to make money.

So I waited, still glued to my screen. I don't remember how much it had gone down precisely, probably quite much, but at some point, it turned. And boy, how it turned! Shortly after, there was a nice profit. Danny called the exit, and I had made a little more than $200 in 10-15 minutes. Only lately have I realized that I had negligently mismanaged my positions. If the trade had not recovered, I would have lost much more. In any case, I was relieved. Ecstatic. On top of the world. I would be a millionaire in no time, just like I had been promised!

I don't recall every other trade, how it went, and how much it made or lost me, but my success journey should only go on for a short time. After all, my first month ended negatively. I lost more than $1k (in hindsight, I can't fathom how it was just that little).

Meanwhile, there were a lot of people in the group sharing their trades. Often wins. One guy in particular, let's call him "Topas", was sharing how he was making multiple grands a day. In fact, he appeared to be trading mostly by himself, only occasionally joining in on group signals. $5k here, $12k there. Danny would put those messages up on his Instagram, and I felt foolish for losing money simultaneously.

After a few months, I stopped. It wasn't sustainable, and I had to change something. So I took a break from day trading - again. I went after other projects I was caught in, researched a little, and started capturing critical thoughts and ideas in written form. After some time and changes, while watching all the huge wins by the community, I started preparing to recoil. Then I had my first (respectably) profitable month: Starting with a fresh $2,000, I made a whopping $1117, slightly more than 50%!

The following month went downhill again, so I lost everything and more. How was that possible with such a headstart and professional guidance?

Frankly, I fucked up a lot myself. Probably everything. There is nobody to blame but me. I didn't know what I was doing.

For example, it turns out I had not even understood the broker interface: It would show you positions and realized + unrealized profit/loss. But it would use all my trades throughout the day for that. So if I had made a winning trade and would later repurchase the same contract, I would think my current trade was already going positive (yes, seconds in, but also price on some contracts moves so fast I didn't get suspicious immediately) while it was merely eating away previous gains.

Don't worry if you don't understand what I am talking about. The bottom line is that I was an absolute dumbass (and I probably still am, and so are other people diving head-on into this).

I also did not understand the price dynamics of contracts (despite perfectly understanding their mechanics in theory). I was dangerously ignorant of what it meant in practical trading and the specific numbers along a timeline.

I traded by myself while being among friends, utterly distracted. Still, my self-esteem was boosted by long-gone early successes. And I also thought I looked cool, being the guy in the group of friends making easy money on the fly from the beach - yes, I traded literally on the beach with a terrible internet connection, and it didn't go well. When all these things came together, I finally made my worst month while charging my account with more funds to compensate for the losses.

Only recently, when I started writing this article, I uncovered that trading fees were significant (often totaling hundreds per month). That's not something you can easily change, or you will have to exchange the fees for a higher spread, but I find it imperative to be at least aware of it.

To this day, I'm still doing things that I know are wrong (and likely still some of which I am unaware are wrong). Why? I don't know. Maybe because of some hope to get finally lucky. Perhaps I'm just in emotional pain (because, looking objectively at my finances, those losses don't bother me). Or maybe I resigned internally, am addicted, or am just dumb. Who knows.

What makes the X10 day trading group stand out

Dannys' group is in such a way unique that he has put several professional and, more importantly, successful traders together into a team (with proof of record, e.g., 90% wins in trade history). At the time of writing, 4 people (including Danny) alert the members about potential trades.

Everybody has their own trading style: They have their own preferences and independent view of the current market. Some prefer technical analysis and some trade events. They choose different options and are more or less active at various times of the day.

In a way, they complement each other perfectly. As Danny described himself in a Discord message, they are a little like a football (or, for Europeans: soccer) team: Some players take a break for a few days, but you still have enough players to win the game. Depending on your position, where they are, and who you like more, you can pass your ball to whoever you choose.

Even if you are a pro trader, sometimes you want to follow a trade of a fellow professional who you can trust with your money.

Of course, the responsibility of losing the money is still yours, such as it is your choice 

. These are obviously fundamental life decisions, but they apply to your personal finances and significantly impact your overall life.

I realized the power of that in particular when Chis, one of the traders, posted a trade. It was a regular trade, and it made everybody in the group 20% or more (some people exited at 20% when Chis called the exit, and others decided to take a risk and made significantly more). In any case, a few minutes after the trade was officially closed, Danny revealed that he had also joined it (and made the risk-averse 20%, or in absolute numbers, $3k). That's what I call harmonious complementing.

Having multiple traders giving signals increases the number of alerts and their versatility, so you can pick the traders and trades you are most comfortable with. You can try various strategies, learn different things as you follow along, and hopefully take a compound advantage of the system.

On that occasion, I want to address the following concern: Is it actually possible to follow the signals by the numbers? Suppose the trade makes only a 10% gain, and you had a 2% worse entry and exit price minus order fees. Is it even worth it?

First of all, the contracts usually (!) move by the second. You will rarely get the exact same prices that the trader had. 

: That impacts the trade little as long as you get 

 prices and follow the rules. Sometimes you even get an (immensely) cheaper deal because the trade first goes the opposite. Some trades are based on money flow, move a little slower, and are held longer, so it typically works out here.

That said, you should be willing to dedicate a few blocks of your time to trading and carefully pay attention to the group. That way, you will catch on the alerts timely and prepared. A few seconds of missing out may not invalidate the trade. At the same time, a few minutes *usually* will (sometimes a few minutes will give you a considerable discount). Trading while being at a party (or on the beach, lmao) may not work out for most of us.

But other than that, there is no black-and-white answer. You need to try it out yourself and find what works for you. If you join, you will notice some traders make a lot of super short-term scalp or trend trades. They will then incrementally sell as the trade goes more positive (e.g., "sell 1/4 of the position at 10% gain"), but what if you have only a single position and want to reduce risk? Then, in fact, the alerts of that particular trader may not be the best for you.

But that's the beauty: You can observe the signals that come in, prepare for them, be attentive, and jump in when you feel comfortable. See how it goes, repeat what works, and change what doesn't. Even if you don't get the exact same trades at the same time they are alerted, it is certainly possible to find the trades that work.

The following is a compilation of trades.

Even though the showcased majority here are wins, be painfully aware that there are a lot of losses, too. In particular, group members may restrain from posting screenshots of their losses, as there is nothing to celebrate about them. Signals do occasionally turn into losses along the way, of course, but the overwhelming amount of trades are, in fact, positive.

On December 13th 2022 the CPI report for November was released. On the 15th the FED had a public meeting releasing their ongoing plans, largely based on the CPI report. We followed a strangle trade by Wolf of Dubai. 

Danny made $130k himself on this trade. And this is what the members posted after the trade was closed:

Now let's examine what this group means in terms of return. First, there are arbitrate ways and numbers. For example, many traders track the performance of their calls (sometimes daily). Danny is tracking the overall group performance monthly in a spreadsheet. Let's take a look at it:

A few members have also created spreadsheets to get slightly more realistic expectations. For example, what if you get worse entry prices than the signal traders?

Here a member of the community analyzed all the trades of a particular signal trader for the whole month of November:

And here is the sheet in more detail (I've redacted the name of the trader). 

Essentially, it says if you would have followed every trade of that particular trader in the month, but had gotten a 25% worse entry, you would have made 2,144% of gains (e.g. you would have made $2,144 if you started with $1,000).

If you would have gotten a 50% worse entry, you would have made 653% of gains.

Now, there are a few details which are still not realistic. For example, I would not ever enter a trade if I was missing the entry by 50%. Even at 25% of gain I'd probably not take it any more (because on average, my personal expectation is that a trade makes me 20%, so the chance a trade is so good that it makes a total of 50% + 20% = 70% or 25% + 20% = 45% is significantly lower). 

This is both good and bad: On one side, there is a significant risk in this, on the other side you have to make the deliberate choice to enter a trade after such a gap, and can simply only take the trades where you are able to catch the entry at +/- 10% max.

Further, the broker commission is missing entirely, and believe it or not, this can be a hefty cut.

I have created another spreadsheet based on the above and plugged actual numbers in. It shows two strategies:

You put your whole net account into each and every trade, including the previous gains and losses.

You put a static amount of $1,000 into each and every trade.

I can think of 100 reasons why you would not be able to turn a $1,000 into more than $2,2 million in one month following this strategy and even with better entries than the assumed 25% premium. But on paper, this is undeniably what you would make if you were able to pull it off and would have put 100% of your net value into every trade.

Here are just a hand full of those reasons:

Sometimes there were parallel trades. Obviously, you can't put your whole portfolio into multiple trades at the same time.

Commission fees are not factored in. They are significant.

Would you really have had the mental strength to put a million into a single trade?

Your average buying and selling price might start slipping, so the price dynamics may shift into unknown once you reach numbers with millions.

The trader who made these trades often sells in tranches, sometimes it's unclear when to sell and how much.

In fact, here is a fellow community member sharing his net worth progress on his broker. There are no numbers, but you can see where it is going:

That being said, I think the second scenario is much more realistic and achievable: You put $1,000 into every trade, at the end you end up making a little more than $21k. You still need to figure out the details, and how to battle every single factor that is playing against you.

Finally, let's have a look at the total performance so far. Up until September 2022 he was tracking every single trade. I guess since 3 more traders joined it became unmanageable to keep tracking the performance, as there are simply too many trades made. However, I have the feeling that the overall performance further improved. In any case, below is a screenshot of the full trade history from the inception of the group until September.

In there you can see that the total performance at the time was sitting at 1070% (yes, that means you would have turned $1000 into almost $11,000), with an average performance of 11% per trade. With 97 total trades, of which 71 were positive, slightly more than 73% of all trades made money (the document has a mistake there saying only 63% were profitable).

You can also find my actual personal performance further below. 

At the time of writing the price is set to a flat $7,000. Danny has practiced rigorous monthly price increases for the last half of the year (where every price increase is an additional $1,000).

If that is too steep for you, there is an option to split the price into monthly payments. There is a 3-months and a 4-months payment plan. In the best case, you have more money available to put into the trading and can start making money immediately which hopefully is enough to pay the monthly fee for the coming months.

Since I know what to expect and what I will get, I can say the price is still justified, and I would still buy in myself if I hadn't joined already. It's slowly starting to move into a range where I'd turn it down, but mainly because I wouldn't have any money left to trade for some time if I bought it at a much higher price than now. For now, and maybe for 3-4 more price increases, I would happily join with no concerns or regrets.

Yes, I have lost money, even though my objective is to make money. However, from being in the group and thinking critically, I infer making a lot of money is possible, if not at some point probable. The chatter on Discord is proof. I understand the trades, see how many are profitable, and can certify that it is mechanically possible to follow the signals - even when contract prices move quickly.

While some aspects of my experience do not sound particularly enticing to join "X10 Day Trading" (or any trading group), the following conclusion shouldn't come as a surprise:

I firmly and wholeheartedly recommend you to become a member. You will learn a lot about the market and even about life. You will add a new, invaluable skill to your toolbelt. And you will have solid and fair chances to make a lot of money, on average more than I've seen with other approaches which may look safer or more reliable.

Admittedly, I think you need to put some work into it, install some rules, earn some experience, stay disciplined, and control your fear and greed. But that might come easier to you than to me.

X10 Day Trading Masterclass review

So today I felt some community vibes in the Discord (I usually don't feel like I belong to a group). In another moment I was thinking about copy trading. Copy trading is basically done for you, e.g. you connect your account with some platform, and then the designated trader will automatically perform the same trade on all accounts connected the moment he clicks a button.

First, it sounds too good and too easy to be true. Especially when you get actual 1,000% performances (as outlined earlier, even if the X10 day trading signals of Wolf of Dubai would easily amount to even 2,000% in a month, that's just on paper, and you wouln't be able to do it in reality). And it kind of depends on you. So yeah, the copy trading seems suspect to me. 

Even if copy trading would work, I believe it's not sustainable for a prolonged period. It's not a new concept, and I've never ever heard anyone eventually saying it was great. With signal groups like x10 day trading, but also other groups, I know about happy customers after years of using. 

When I make back my losses that I have at the time of writing this and make the entree fee for the copy trading, I will give it a try though.

Second, I very much like doing the trading myself. Instead of someone giving me the fish, I much prefer to learn fishing, if that makes sense. It makes me less dependent on anyone. I've embraced on a journey of learning, reading trading books, watching YouTube videos, educating myself on the current market situation, and how to read public news. If the group closes one day, I will still be left with a skill that nobody will ever be able to take away from me and that can generate me insane amounts of money out of thin air whenever I want.

Day trading is something that will always stay a money machine for the right humans and that no AI in the future will be able to wipe out the need for human interaction as I've written in the post "10 jobs that will not be threatened by AI"

When I see these kind of messages I feel like I'm in the right place. Danny is always trying to improve and add additional value. Recently one of the signal traders made a couple educational videos on topics that were requested by the group members, and it seems a community member is working on a piece of software that will just copy the trades of a signal trader.

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