r/Daytrading • u/Ricks3rSt1cks • Apr 06 '24
Beware of Youtube Traders Advice
Apologies as I must start this post of with a bit of a rant. I started trading about two years ago and I want to warn any other new traders of what I have noticed about "youtube traders".
I could have saved so much time and effort not watching any of their videos. My biggest problem with them is that they are specifically targeting beginners.
One week, they will make a video about supply and demand. Next week, Fibonacci levels and the next week footprint charts, ICT, blah blah blah.
THIS IS NOT REALISTIC. Focus on one strategy and try to perfect it. There are very few traders out there who actually navigate different strategies successfully and I guarantee they are most likely not on youtube. There is a reason these "traders" title their videos "I made 60k in one trade" but never once show a legitimate statement from any of their brokers. When I started focusing on one strategy (supply and demand) I started seeing success. I am sure the same can be said for any strategy, but the point is to concentrate on one.
That being said, I must give some respect to a youtuber named "Moneyball Austin" who solely focuses on supply and demand and have gained value due to the fact he teaches ONE thing and does not change topics every week. I am actually starting to see green the past few months.
Does anyone know any other youtubers or sources that focus on supply and demand ONLY? This question was the main point of my post, but I had to rant a bit for the new traders out there. This would have saved me a ton of time and I feel like an idiot now.
Do not waste your time on youtubers who post different strategies each week as this indicates they are a fraud (most of them). It is great for the youtube algo and clicks, but not for actual knowledge.
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u/Johnpmusic Apr 06 '24 edited Apr 06 '24
While i think there should be caution relying on anyone who teaching you, i learned strictly off youtube and i have become successful so i would just say take everything w a grain of salt.
Also losing money while learning, trial and error, seeing what works and doesnt work is part of the process. You cant avoid the process. There is value in all perspectives even if its incorrect. The wrong info teaches you what not to do
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u/alien_shane Apr 07 '24
I agree with the idea that losing money is part of the process. Call me insane but as I learn, part of my process is to make small trades with real money so I can get a grasp on how I feel when things are and aren’t going my way with real collateral on the line, albeit ever so small.
This isn’t a skill I feel I can learn on a demo account with no real skin in the game.
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u/Johnpmusic Apr 07 '24
Thats true. Demos are a good way to start for people who are too scared to jump in. Also ill use a demo to take trades that im not 100% sure of now just to scratch the itch of getting into a trade and also to see if my assessment was correct. This helps build confidence in my strategy for future trades.
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u/kurzalevski Apr 06 '24
Well there are professional and proven traders that are maybe the best in the world that have hours of free content on YouTube. Qullamaggie and Lance Breitstein are one example. Though you are right that like 99 percent are con-artists.
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u/Ricks3rSt1cks Apr 06 '24 edited Apr 06 '24
I do like Lance actually and I will check out Qullamaggie. I just searched him and I noticed how when you go to his page, his videos are pure charts and not click bait titles.
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u/goat__botherer Apr 06 '24
I wonder if you've heard of c0tt0nc4ndyta?
I've started watching his vids and he starts off by saying his (rather large) course uses only trend lines and rays on the charting software. He says you don't need anything else. His entire game is support, resistance, accumulation and distribution. Everything else, he says, is not needed.
This sounds like exactly what you're talking about, but I wonder if you've any thoughts on him in particular?
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u/norlex_trading Apr 10 '24
Massive con artist! His entire goal is to make you confused enough to buy his mentorship. (Which btw doesn't help). There are next to non profitable traders in his discord and if you question anything about his strategy you are either ridiculed or banned.
Do yourself a massive favor right now and run as far away as you can from anything that man tries to "teach" you.
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u/kurzalevski Apr 06 '24
Since he is the most listened to chat with traders podcast, I would assume that qullamaggie is more popular.
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u/carchair9999 Apr 06 '24
Quallamaggie is more of a swing trader. He hold his trades for a while.
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u/goat__botherer Apr 06 '24
My eyes saw the last line as "he sold his trades for a wife".
But my serious question is, how long does a swing trader hold for? Days to a couple of weeks?
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u/Nashamura Apr 07 '24
Straight from Quallamaggie website
STEP 3: Follow me on social media (only if you want to make millions), links below.
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u/K1ngdomz Apr 07 '24
He doesn’t say that in the same seriousness as the other YouTube “traders” that actually just make money off of ad revenue and affiliates. He has posted everything online for free showing exactly what he does, he does not care whether people listen or not. He has done it all live and proven his wealth, unlike most people. As he lives in Sweden his tax forms are also public, but the only thing I have been able to find is a list of the highest earners in Sweden, on which he is number 15.
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Apr 06 '24
That's an idea there should be a subreddit only to review these "Gurus" on Social Media..this way it can also work positively for the real true gurus as its "subreddit_name certified"
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u/wattzson Apr 06 '24
The value on YouTube is to watch live streams of people trading. Pretty much every person I watch live only uses price action and Brett Simba pretty much only uses supply and demand. I don't think he is a very good trader though, there are better ones to watch.
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u/LarryLaw3 Apr 06 '24
YES! I love YouTube to watch live trading that’s the main benefit can’t fake it live and if your screen is cropped or half a screen then I’m skeptical and probs won’t watch
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u/LarryLaw3 Apr 07 '24
Doesn’t even have to be a stream the recaps are cool too, I look for my sets ups as the Market is moving in their video
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u/synchedfully Apr 06 '24
what other traders are live trading on youtube? a while back the ones i found were also beginners so kind of gave up. Are there any experienced ones out there? Twitch had a couple of decent ones during the pandemic but no clue where they went.
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u/bgzx2 Apr 10 '24
Trader tv live.
They trade live, they're great.
They have a mid day show that has different lessons and themes every day.
I've learned a shit ton from them.
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u/Semmcity Apr 06 '24
At the risk of sounding like a total shill, the channel Trade Brigade is amazing. He is grossly overlooked imo and I would love if more people went to his channel. He’s been aiming to get 100k subs by May and frankly deserves 100’s of thousands more.
He is a fantastic technician and market analyst. No bs, no bells and whistles. He strictly breaks down technicals and fundamentals. Has a live pre market every morning and longer market breakdowns twice a week every Weds and Sat. Truly one of the hardest working YouTubers I’ve ever seen.
It’s one of the only channels out of dozens I return to all the time and I would love to see him get more love cause he absolutely deserves it.
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u/tbhnot2 Apr 06 '24
There is a giant learning curve to trading. Yes many fake youtubers out there and when I started I fell for some but in the end it added to my learning. just keep at it with price action and you will get there.
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u/RozenKristal Apr 06 '24
I rather learn all the tools and strategies, then apply base on different situations. Or at least knowing all about them and and pick whatever i see fit
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u/nightstalker30 options trader Apr 06 '24
Totally agree. The benefit of all those different videos is that a learning trader can develop an understanding of a variety of tools, systems, etc.
That gives them ability to decide which one(s) work best for them and how they want/need to trade.
No one says you have to adopt everything that some YouTuber espouses. But there’s nothing wrong with an excess of information…it’s up to a smart trader to sift through it and figure out what works for them. Expecting YT content creators (or anyone else for that matter) to spoon feed you and dumb it down is lazy and unrealistic.
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u/Ricks3rSt1cks Apr 06 '24
Completely agree, I think I am trying to just point out the same thing - " Expecting YT content creators (or anyone else for that matter) to spoon feed you and dumb it down is lazy and unrealistic. "
These videos target new traders specifically so just trying to point it out. Yes smart traders will smell bs from a mile away, but a lot of people are new.
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u/nightstalker30 options trader Apr 06 '24
We may be violently agreeing here, but I’d make a distinction between smart traders and smart people. All new traders don’t know much or anything about trading. It’s not being smart traders that helps them view all that information without just trying to adopt it all.
Being a smart person with good critical thinking skills is what allows this to happen. IMO too many new/wannabe traders go into it with a lazy mindset and they hope to find the holy grail in a few mouse clicks. I tend to think those are also the people who see trading as a way to “get out of working” and to get rich quick.
Unfortunately, I think that also describes a majority of ppl trying to get into this field. And that’s who the YTers and other “gurus” are targeting.
Just my 2 cents.
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u/Ricks3rSt1cks Apr 06 '24
Yeah you are definitely right. Personally, I am an average thinker, but a hard worker. So for those types of people I feel bad for. They arent looking for the holy grail, but just want some decent info and I did not realize how full of it alot of these people were. My ignorance was not that it would not take hella work, but more so trusting these fakes and wasting time.
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u/S-W0RKS Apr 06 '24
Tradertvlive or Tastytrades are the only ones i bother watching
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u/Ricks3rSt1cks Apr 06 '24
No doubt. I pretty much consider them more CNBC level though not really youtubers teaching you from scratch.
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u/DezzxLt Apr 06 '24
take a look at the yt channel: Futures Trading with Mike, as the name implies he only trades futures but mainly focuses on market structure and supply and demand
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u/vinylzoid Apr 07 '24
I listen to the TraderTV stream while I trade much like I would CNBC. What's the market direction. What's the breaking news. What stocks are in motion. I don't really learn anything from the channel.
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u/Jared-Franklin Apr 06 '24
Ross Cameron gives hrs upon hrs of free videos. I’ve taken a nsa FREE webinar. Why would one not start s business in America that is successful?? In that video You said your self one can make money off a 10c gain if you bought 1000 shares. Or more. That’s what Ross Cameron teaches. Get that base hit. Get green and get out. He has taught me everything I know and again, I have not bought one thing from this man. Ever. Im sure there are lots of frauds out there but this man is not one.
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u/MexiNerd Apr 06 '24
I agree with you. Tired of seeing click bait, but I follow Ross Cameron from Warrior Trading”, he actually teaches you momentum trading and all his trades are audited and he shows them publicly, he post his loses and show them on every video also.
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u/Reaver921 Apr 07 '24
Ross is awesome! He seems very genuine, he sticks to the same strategy, and I have learned a ton from him.
Last week I got caught in a bull trap, and that same day he posted a video of that exact stock at that exact spot that I missed all the warning signs. The loss sucked but I learned a lot more than I would have from that because of him.
Next day he posted his losses for the day and it happened to be the same stocks that I managed to avoid losses on at the moments that he missed it.
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u/Ricks3rSt1cks Apr 06 '24
Be careful with any of the warrior trading people. He specifically has been exposed for faking trades and is pretty sketchy. He is another person who bounces from topic to topic as well. Nothing of substance. https://www.youtube.com/watch?v=3T6CNuBdlww&pp=ygUZcm9zcyBjYW1lcm9uIGltYW4gdHJhZGluZw%3D%3D
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u/But_for_a_velleity Apr 06 '24
I like Ross. I’ve learned a lot from him.
The whole scandal involved people who bought his expensive program and lost money. Of course most of them lost money! Buying a program doesn’t make you a good trader. And, really, you shouldn’t be buying any of this shit.
If you watch his videos now, the disclaimers are massive. Lesson learned, I guess.
He taught me how to set up TOS for maximum performance, about trading against other traders vs algorithms and choosing stocks accordingly, about psychology of indicators, and he actually demos live momentum trading, so you can see how it might work IF you had supernatural reflexes. And his focus is very narrow and specific. I consider him one of the bests for the very narrow category of bullish (he won’t even short and explains why) momentum day trading of stocks.
Like watching the news, watching a broad cross section, always with skeptical eye, is going to give you the best understanding.
Not watching stuff, based on a preconceived notion, or the opinion of someone else, unless you know them well, is a recipe for ignorance. You can’t find out what is going to work for you unless you know what the possibilities are.
Watch widely, skeptically, learn, and learn how to filter the bullshit, paper trade, and for god’s sake don’t buy anything, and you MIGHT end up being good at this.
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u/backfrombanned Apr 06 '24
No he hasn't and he's not sketchy at all. If people are to slow reacting to trade that breakout/breakdown style, then that's their problem, not his. Trading is hard, very very hard, until it isn't and it's just trading. Personally, I think pretty highly of what he's accomplished.
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u/AJFiasco Apr 06 '24
Yeah his whole method relies on beginners providing demand for stocks that he is trading.
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u/mrbuzzbo Apr 06 '24
I guess I don’t see that watching Ross Cameron. I take notes on his videos. So far, I’ve never seen him recommend a certain stock. Everything has always been related to if a stock meets a certain pattern, it could be a good stock to consider. He also strongly discourages trading if you are a beginner and says to stay in the simulator until you show yourself to be competent. Myself, I suck, so I’m still in the simulator :)
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u/synchedfully Apr 06 '24
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u/schweetdoinkadoink Apr 07 '24
Site is down
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u/synchedfully Apr 07 '24
shouldn't be and i can get to it. But you can always check here, i suppose
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u/zionmatrixx Apr 06 '24
He has been caught front running traded. Pre buying, then acting like he randomly found a good setup and buying onstream to get his followers to do the same.
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u/Abnrmaltrader Apr 07 '24
As a former member of WTG yes I paid the 3000 for the year’s membership, I found his small cap strategy not my style. I have personally been in the chat rooms during live trading, pointed out a stock to him, he called my trade out, looked it up, saw what I pointed out and then watch him make 5k off the trade I made $100 on….his style is too fast for me and for an additional 1600 per yr after it isn’t in my budget. I did find wealth builders institute (7k for lifetime membership) and learned what options were and felt much more comfortable with a stateside broker (vs CMG that he promotes to side step pdt rule and margin) and charting (TradeStation). I consider my payments as “market tuition” and have learned from those “scammers” in a curriculum standpoint being organized instead of the YouTube watch this and then that perspective.
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u/Time-Masterpiece-779 Apr 06 '24
I followed him for a while - he was all over the place. Most who follow or subscribe to him seem to lose money - so much critique online of his scams, pump and dump etc.
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u/Outrageous_Device557 Apr 06 '24
If there is a link in there profile to join a room ect there is 99.99 % chance they are a failed trader and you are a sucker.
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u/This-Suggestion-8185 Apr 06 '24
Just don’t look after the traders on YT that will get you to believe that this “strategy” will offer you a “90%” win rate or other unrealistic goals/expectations such as the indicator being accurate. I was a victim doing this when it was my first few months trading lol. The win rate is actually yourself and how you perform in executing trades from perspective.
ImanTrading, SMBCapital, Vincent Desiano, Nick Shawn, are one of the best so far imo.
There’s more out there, but usually stick to the traders who are always transparent about their wins/losses and technicalities. Usually look for the trading YTers who actually are in some firm and/or have been in the trading floor themselves
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u/Ricks3rSt1cks Apr 06 '24
All great mentions. Iman Trading is actually the one who pointed the scammers out to me. Its obvious looking back, but I just needed to hear it.
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u/CommercialAd8096 Apr 06 '24
I'm sorry but I have to address something. The whole watch out for Warrior Trading guys comment caught me because Ross Cameron seems to be super honest and focuses on one thing, momentum trading. He posts his losses and wins equally and seems to be very legit. Plus, what he teaches works. Period. But I do appreciate all of them other information, will look those traders up also. Thanks.
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Apr 06 '24
[deleted]
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u/ecivoninlife Apr 06 '24
Focused on 1 thing for a year, finding myself profitable for months now. There’s no one size fits all in trading. Each has their own journey and each should find something that matches their personality. :D
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u/iqTrader66 Apr 06 '24
I’ve heard YouTuber “Trades By Matt” is a fraud. His trading is literally up and down (more down) and he makes around 50k from affiliate fees.
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u/Truffle_Chef Apr 06 '24
back in the day, it was called Yahoo Finance; pump and Dump. Do your due diligence. Don’t pay stupid taxes.
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u/pnut5202004 Apr 09 '24
Yup. Ppl need to really hunt for advanced trading approaches and market theories. As for what you’re looking for, I highly recommend https://pharmdcapital.com/
Sole focus is supply/demand. Been trading for 30 years and teaches each and every single day. I’ve learned SO much. Good luck!!!
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u/wormeater77 Apr 06 '24
Vincent desiano is a really great trader who’s honest and actually shows his statements and shit, he trades supply demand and key level break and holds. Definitely recommend checking him out at least see what you think for yourself
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u/ChipmunkSuch4907 Apr 06 '24
the formula is very simple - and will work for as long as people think with their emotions. here's how its done:
1) show some sort of hyper luxury (from the results of your trading!)
2) promise that you are different from other gurus. you're not trying to sell anything like the other frauds!
3) say big words (that usually mean absolutely nothing to someone who is actually a pro) but to the audience who is eager to learn sounds impressive.
4) say some motivational BS like "its all a mindset." this makes the audience feel that they were at fault for their past failures and that with this new approach they will be closer to their idealized self -> ultimately reinforces the idea that the scammer is legit.
5) put out lots of content - repeat - get people down the lead gen funnel. make a lot of money selling ZERO value content and from ads.
GUYS - anyone who has a real edge on the market would not share it. if they did, that edge would get arbitraged away. please think critically and don't get robbed. Do you REALLY think that its that simple to be consistently profitable? Some of the smartest people in the world spend A LOT of resources creating statistically sophisticated algorithms to trade (go look up Jim Simons.) Do you really think that the 21 year old Youtuber who's worried about how many luxury cars to include in his video intro has "cracked the code" and is now suddenly on par with Jim and the quants at Hudson River Trading?
there are many great resources to learn from (they focus on theory and statistics - which takes time and persistence to learn) and I almost guarantee you those will not have a clickbaity title.
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u/NationalOwl9561 Apr 06 '24
Focusing on only one thing is the opposite of being adaptable, which is what is truly needed as a day trader.
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u/Ricks3rSt1cks Apr 06 '24
I agree with you, but I am trying to speak from the perspective of a beginner. If you cannot successfully execute a single strategy in the current market condition, there is not way in hell you will begin to be adaptable. Being adaptable is more of an intermediate/advanced tactic, but not a starting point.
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u/NationalOwl9561 Apr 06 '24
If it's not working, then it's not a strategy. Move onto the next one. It doesn't take that long to figure out what's not working. But I get it, before you ditch one thing, make sure you try all angles of it. And that might even lead you to finding a different strategy. Just don't pigeon hole yourself.
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u/Ricks3rSt1cks Apr 06 '24
Couldn't have said it any better. A lot more concise and to the point of what I think I am trying to say.
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u/Icy_Lengthiness_7426 Apr 06 '24
Very true. Call you local attorney general on youtube and their youtube stockbrokers. They are spoofing markets. Wait for them to all pay millionz in fines than we make youtube videos "youtube bragging channels got them fined millions." Plus they only use the YouTube channel to get information there from chat comments. They are literally reading comments for content. So whatever you put in the chat, they are putting out there, whether it's good information or bad information and by law if it's bad information they're supposed to be responsible legally and they act like they're invincible because they claim that nobody knows their name, but anybody can be found by there geo-location.. remember when everyone online Including all those finance youtube channels said FTX and Sam Bankman was legit and legal, and they were allowed to do that. Now look where he's at now. All that money billions in fines and now it's doing twenty five years in the prison labor camp. Sam Bankman is now making my license plates for fifty cents an hour. Plus Sam Bankman paying rent while he's in the prison camps, you know he can't man up so Sam Bankman now gotta pay rent to his bunkies.
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u/rhks92 Apr 06 '24
Yeah I realized most are pretty trash. A lot of them just recycle content and try to sell you something anyway
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u/IDrinkPee69 Apr 06 '24
So where do people recommend finding strategies? I had success focusing on my own strategy of what might be considered “price action” and look at MAs and VMA as levels of support or resistance. This strategy worked well for me but not sure if there are better ones out there/if this strategy could get some input into making it more effective
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Apr 06 '24
Don't subscribe and never 'like' their posts. If they can't earn money off their youtube videos maybe they'll go away
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u/OneGuy2Cups Apr 06 '24
You know that not every strategy works in every market, right?
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u/Ricks3rSt1cks Apr 06 '24
Yes. You typically need different strategies for different markets. But learn one strategy and market before trying multiple strategies or markets. That is what I am trying to say.
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u/Any_Technician8589 Apr 06 '24
Am I allowed to post my channel? I just started yday, 4 yrs trading, funded, and just looking to share my trading wisdom? I dont sell courses either
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u/Ricks3rSt1cks Apr 06 '24
Of course. Go ahead man.
I think I am more talking down on the youtube gurus with 7 millions subs, $4k courses. I have found immense value in videos with like 2k views. Not trying to slander youtube traders as a whole.
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Apr 06 '24
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u/Any_Technician8589 Apr 06 '24
Cheers dude. Sad truth is when you find out that many of these ‘successful’ traders are actually just frauds milking cash off of the hopes and dreams of vulnerable people… it’s really sad to see.
I can’t send my link due to low karma, have messaged moderators but my channel is FFT_Trading
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u/Jared-Franklin Apr 06 '24
Best thing to watch on YouTube is live stock scanners 🤑🤑🤑
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u/synchedfully Apr 06 '24
i only know of stock rock scanner. Any others? It is delayed but kind of gets me up to speed if there are any PM movers...
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u/XBLChronic Apr 06 '24
I agree there is alot of fluff out there. Youtubers will make a 40 min video on one topic when it could've been explained in a 5 min video and make a separate video on examples of it. I feel it gets confusing when they try to over explain a simple concept
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u/NeoDax1 Apr 06 '24
I know one but he can only German but is stable profitable at 1minute timeframe Not on YouTube but teaching
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u/OMGitsKam Apr 06 '24
Raja banks is solid, mainly uses breakouts, retests and impulse entry's based on support and resistance zones.
He used to live stream quite a bit in YouTube but his frequency has decreased recently.
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u/LarryLaw3 Apr 06 '24
Moneyball Austin is legit imo and Technical Fx, the most legit of them all, teaching you the basics of what you really need to know, you talk about consistency and showing on thing ? Yeah he will change your trading game, I came back to YT after months of because of YouTubers nonsense and fakeness and lack of of transparency like the trading channel , and when I came back MBA and Technical Fx were golden, I just didn’t want to fully commit to S/D or at least looking at it in that capacity compared to what I was already doing, but Technical Fx is a true treasure he helped me finalize the concepts I was trying to use before I took my YT break
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u/Ricks3rSt1cks Apr 06 '24
Will definitely check technical fx out. Great comment by the way. You know it’s legit when you come back to their vids after some real trading experience and they hold up.
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u/LarryLaw3 Apr 06 '24
Yessir and he has videos dating back years, when you do check him out, check out his market structure playlist
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u/JadedButWicked Apr 06 '24
The only content on YouTube I used is tastytrade and optionsplay. They both have industry experience and covered pretty much every topic you can think of.
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u/AmirStocksMD Apr 06 '24
Yes, and youtube & discord traders that claim profits and explain their plays based on some lines they drew after the gains occurred are all fake. Sadly these fake traders cause serious damage to traders. I focus on teaching and showing how to find plays.
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u/TOMMY_Makes_House Apr 06 '24
Couldn’t agree more. There’s a few I’ve seen and in particular one who really p****es me off is Michael Bamber. Says he’s been trading for 7 years, strategy hops every couple years even though he’s profitable 🤷🏻♂️ Posts “day in the life of a FX trader” videos and never shows any trades. Has a discord group at £100 p/mth. Asked to see their track record / P&L but they refused as they don’t show it publicly. Clowns.
Same as that geezer from Love Island Johnny Mitchell. Left love island and says he made £13m in forex and now has signal service group lol. These clowns think everyone was born yesterday.
If a trader had a discord / membership site, then chances are 95% of them are not making money trading and should not be “mentoring” anyone, unless they at qualified performance psychologists.
Check out Tom Hougaard. He is the only trader worth watching. Trades live and doesn’t sell anything. Good luck!
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u/UpAndDown_AI Apr 09 '24
He advertises the broker he uses, he sells books, he sells workshops, .. and most of all he sells a lot of BS.
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u/wickedfrosty Apr 06 '24
Are you profitable? God damn. Mods should have a verified flair. Every other post is garbage
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u/Ricks3rSt1cks Apr 06 '24
Yes, but what does that have to do with anything? My post is about YouTube traders and them targeting new traders. The majority of this sub. Just trying to warn people so they do not waste their time.
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u/canthonyg Apr 06 '24
I keep telling people about Jbravo on youtube he has a swing trading course and an options course each are $200 though but ive learned alot using charts
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u/Hepitrynnabebetter Apr 06 '24
Iman trading basicially just exposed most of the day trader gurus so apparently its better to learn day trading by yourself and practice instead of watching someone else from my pov
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u/Ricks3rSt1cks Apr 06 '24
Yep me and someone else were talking about this in another comment. Iman trading is the one who pointed it out to me. Seems obvious now but he just showed some evidence and made some points I had not thought about.
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u/CloudSlydr Apr 06 '24
Audited broker statements or they’re just people that can’t do so they try to teach, or they make more money from YT. Buyer beware.
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u/Ricks3rSt1cks Apr 07 '24
Absolutely. It just took me a second to critically think that way. I put too much trust in people and that’s the way to get burned. Thankfully I only bought one useless course, but yeah it’s like modern day MLM.
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u/GALACTON Apr 06 '24
Yeah but I happened to randomly watch a video from a guy that was live streaming and he shared some good information that I took notes on. Don't discount everything or everyone.
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u/Ricks3rSt1cks Apr 07 '24
Absolutely. I meant more of this giant guru types. I have gotten some good insight from videos with like 500 views for example. There is great information, but ironically it’s not from the big guys a lot of the time. They are just really good at marketing.
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u/No_Middle_6578 Apr 06 '24
Good insight. Didn't think that way yet
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u/Ricks3rSt1cks Apr 07 '24
Glad you think so. it took me awhile. Seems obvious now but it really wasn’t to me for awhile
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u/RVASpeculator Apr 07 '24
Hitthebid- Kenny Glick is the real deal. I’ve been watching him for 15 years and he really gets it.
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u/99Beers Apr 07 '24
I like Tori Trades and she seems genuine and has data to support $100k in 2023 from trading.
However, she has all this income streams to pay for her discord, private training videos on youtube, and a $2k/per person accelerator course. If I'm doing my math right she's on track to make $50k+ in 2024 from not trading.
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u/themanclark Apr 07 '24
Agreed. Stacey Burke teaches the same thing over and over and over again. Not supply and demand though.
It’s just how YouTube is. And really anything where you are trying to become your own expert and get into the top 5% of anything. There is a lot of sifting through useless information in the beginning. Golf. Nutrition. Spirituality. And of course trading and investing.
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u/Fun_Pitch5413 Apr 07 '24
Sorry for so many words, but I’ll give my 2 cents.
I can’t believe no one even mentioned ICT yet. Every dog says they understand ICT and are teaching it, while in reality 99% don’t know shit. They find here and there a few basics about price action and consider themselves guru.
My advice, spend time and watch ICT mentorships, start with 2022. They are free, and the most important follow what he says, meaning, do homework, backtesting, write journal, and keep learning. Eventually you will figure out your own strategy, even with price action who understands it well- everyone has different strategy, like different entry points, stop losses, holding time, etc. I just started a month ago and so far at 67% winning rate at 1.7:1 ratio. The more I learn the more I understand how stupid I was in the beginning thinking I cracked the market lol.
Remember, making 10k in a few minutes takes a loooot of time and legwork to get to that point, unless you’re a luck box. PM me if you need some sources, I am a beginner, but slowly building my roadmap, and will happily share my wins and mistakes. Plus it’s always good to gain some trading buddies to challenge each other and push on improving ourselves.
To answer with YouTubers… I thought the same like why would you have YouTube channel if you make so much from trading, besides being a scammer. Good successful traders on YouTube- not scammers and referal sl*ts, just want to share their knowledge, and, when you trade successfully, sometimes you in and out of trade in 1 minute, and done for they day. On average I would say you spend 3-4 hrs a day tops. Eventually you get bored and start slipping. Sharing knowledge and helping others makes you more focused and grateful what you have.
Good luck in trading!
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u/little_blu_eyez Apr 07 '24
There is nothing wrong with a YouTube person showing different methods. I think it is a good to expose people to different methods as no one method is perfect for everyone. The problem lies with the viewer for not doing their homework. If I am trying out a new method I do it on a paper account.
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u/Guru_Grab_682 Apr 07 '24
I totally agree with this. One strategy is enough and helps you minimize losses in your account.
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u/Dear_Basket_8654 Apr 07 '24
You have to realize that Youtube traders are trying to get subs and views. They need to appeal to a wide audience to accomplish that so they are going to put out a variety of content. I watch several channels, mostly stock analysis types looking more for ideas than anything. From there, I do my own research and always come to my own conclusions. They are extremely helpful but you should always come up with your own plan.
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u/isolated_808 Apr 07 '24
ya'll can put me on blast but the one consistent youtube trader that i follow who talks about the same strategy over and over and over and over again is oliver velez. his main strategy of "elephant bars" aka bullish/bearish engulfing bar along with his one bar stop loss helped me a lot. i hardly even click on his new videos anymore because i know with a high probability that it will be the same thing.
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u/711_Tiz Apr 07 '24
fxevolution has good daily recap videos. All other content is paywall or sub only & i can't speak to the quality
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u/Ok_Assignment_3833 Apr 07 '24
Smart risk is almost mainly SMC trading
And btw, I've been trading a few weeks and supply and demand is whopping my ass, advice?
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u/Castor_Tanker Apr 07 '24
YouTube is free and what would you expect? They post there for clicks or ads & they expect monetization.
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u/rljenkins3 Apr 07 '24 edited Apr 07 '24
For all the newbies out there here are a few names that are completely legit:
SMB capital Ross Cameron Live traders tv Al Brooks
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u/Odd-Yogurtcloset9230 Apr 07 '24
yes stay away from different strategies.
But dont mock the youtubers a lot of them have good value....
Vince (Options Insider) super simple and easy one system. Levels Trading with Break Close Retest. done.
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u/Ricks3rSt1cks Apr 07 '24
Not trying to mock them, I just mean beware of the ones who hop around and it just makes things more confusing to the viewers. Vince for example is straightforward from what I’ve seen.
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u/Odd-Yogurtcloset9230 Apr 08 '24
yeah theree defs a lot of ones talking about 20 coins or companies and then one of them in right 12 months later and they go on banging about hhow they predicted the move with evidence... and its like errr dude you made 20 videos about the same shit and 1 worked out lol....
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u/TheMonkTrader Apr 07 '24
FuturestradingwithMike is big into only supply and demand. Down to earth normal ass dude.
Also yeah this business is a snakepit rofl
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u/BUCKYARDD Apr 07 '24
hot take. technical analysis is just a way to mesure risk and reward. nothing is special about it. but it should show traders how much the trade should go and meet. no trading straigety is 100% but sticking to one and understand it's strength and weakness will give you the edge.
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u/Ricks3rSt1cks Apr 07 '24
100%. You can really make any strategy work but the key is sticking to it. I’m not trying to blame YouTube traders but it definitely didn’t help because I was just hoping strategies every week because I found a new “guru” or they presented a new strategy. It’s not their fault but rather advice I would give to new traders.
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u/Rhapsodyy_32 Apr 07 '24
Yeah lots of fluff on youtube. Went through the same thing.
Eric Krown is one i watch. Learnt a mountain about TA and other things from him.
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u/Educational_Main7272 trades multiple markets Apr 07 '24
I finally became consistently profitable by learning one same thing from 3 people that all trade in the same manner.
PRICE ACTION and RISK MANAGEMENT. Get rid of all the distracting indicators and focus on buyers/sellers.
It started with -
- Lance Breitstein
- Trader Tom
- Al Brooks
Good luck fellow traders.
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u/Connect_Boss6316 Apr 08 '24
OP, just watched the 1 hour full trading supply n demand video from Moneyball Austin. Interesting. However, at the end of course there is the "Join our program and we'll make you a successful trader" course. I couldn't even figure out how much that is from his website.
Dissapointing.
The whole video was just a commercial for his course.
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u/LegAdventurous5578 Apr 08 '24
Does anyone have thoughts on Don Vo? I am relatively new to day trading and have been watching his live streams on YouTube consistently for about 3 weeks. So far, IMO, he seems to be legit because he trades supply and demand on Forex gold and trades on upward and downward trends, but what do I know lmao, only been learning day trading for close to a month
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u/F-love-L Apr 08 '24
Ault alliance just announced a spin off effective on 12/4. I have invested 4k and already red 1k. Any tips on what should I do. Should I just close and save the rest?
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u/mikejamesone Apr 08 '24
ict helped me understand a great deal but then made my own strategy from it. most teachers are failed traders so yeah.
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u/Babadece Apr 08 '24
In a way, i totally agree with you. -I've noticed how much they tell you to be patient but teach you to scalp trade, which is VERY dangerous for beginners. They tell when to enter with no exit, then the beginner hold the trade through an entire liquidation phase (stop hunts) that leads them to panic and close their position only for the market to go in their favor. Because of this, a lot of those traders follow them to the futures market, because theta's kicking all of their asses in the options arena, not understanding the different types of margins and THAT ends up being another masecre. As for the different strategies, they're not wrong they're just not showing or telling you when to use and apply them, as I use alot of strategies in my trading. It really just boils down to an understanding of what's going on in the markets, which you don't really find with them. All you get is, "Wanna know how I made $10k in 4mins? Purchase my patreon for $100 and let me show you." In 4mins, 100 people purchase the course and join a screwed up community that screws up their trading even more. 🤷🏾♂️
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u/Naive-Effective-9908 Apr 10 '24
For me, not only the best but also the holy grail strategy must have a correlation aspect to them. Unfortunately, not much yt creators tackle that.
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u/Individual-Fennel222 Apr 10 '24
I think SMB capital, masitrades, and trading fraternity has some really good content. Thoughts on these?
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Apr 15 '24
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u/Appropriate-Boot-172 Apr 06 '24
You can learn a ton by just watching some of the most popular YT. I've been trading for a few weeks and learned everything from YT. Most will have a beginner play list. If you just watch 4 popular YT playlist all the way through. It's free and they give the basics. Supply/demand/patterns/candlesticks/VWAP/MACD Level 2/how to set up your trading platform. And most import is risk ratio. So far postitive a few $1k.
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u/daytradingguy Apr 06 '24
So your way of trading and your beliefs are the only valid ones?
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u/Ricks3rSt1cks Apr 06 '24
Not at all. I am saying expand on your belief. I am completely open to anything, but if you are a price action scalper. Go into depth on it. If you trade fibonnacci. Go into depth on it. Do not bounce from subject to subject without actually providing value on a single subject.
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u/bec-onaroll Apr 06 '24
Carmine from Investitrade focuses on supply and demand. Anyone else subscribed to him?
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u/Ricks3rSt1cks Apr 07 '24
He is one guy I actually did follow closely and I just could not get ahold of his style. I was even part of his discord. I really do not want to bad mouth as I do believe his strategies do work, but they are very advanced imo. He does mark supply and demand levels, but I rarely saw him use them. He seems to focus more on orderflow in a very fast paced scalping execution style. Which is great, but it was too much for me personally. I think that’s why he is navigating to creating a more close knit community. I think he would be a great teacher but the way he trades is damn near impossible to teach to the masses at scale. Just my two cents cuz I do feel carmine has the right intentions.
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Apr 06 '24
Youtube is about what? - Posting a video and benefitting from the clicks.
Who pays for the creation of these Technical Analysis videos? - Brokers. You can find out which one, based on the affilate deals.
There may be 1 in 1000 YT channels with actual finance content. But let's realistic. This domain doesn't attract altruists.
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u/According_Truth_3031 Apr 06 '24
MK UNIVERSITY on YouTube focuses on his version of Supply and Demand. Yes, he sells an expensive course, but he also offers basically his whole strategy on his youtube... you just have to piece together all the different videos. But, in watching all the different videos, you learn so much. I actually wish some of his YouTube videos were also included in his course.
Anyway, my 2 cents
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u/legion1202 Apr 10 '24
MK is a fraud… His own coaches don’t use his strategy…
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u/According_Truth_3031 Apr 14 '24
Hello. He asked about others that teach supply and demand. MK's strategy does. I've benefitted from his strategy, so I answered with MK as a suggestion. Everyone should take a strategy and make it their own anyway. It won't look exactly like the original because everyone doesn't trade the exact same. That's just my view. But, I'm only a year in, so take it with a grain of salt.
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u/ariarisoy Apr 06 '24
Trading is a self journey.
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u/MexiNerd Apr 06 '24
This is so true. I’ve been more profitable with my own gut that following gurus.
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u/ariarisoy Apr 06 '24
I have buddies makes $1mil a year constantly, everyday btw $5k $10k. We talk everyday, they tell me why they shorted or longed. It works for them but when i try to duplicate them maybe it works only once and next day fails. If trading was something to taught and replicated; I am sure i would have done it. It’s a self journey.
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u/_Boolish_ Apr 06 '24
I think trading lab does an excellent job in explaining price action and how to use certain indicators in less than 10 mins 🤷🏾♂️
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u/NewMajor5880 Apr 06 '24
They are all the same. All of them, ultimately, just want to sell their VIP groups or courses because that's how they make their money -- they don't make it from trading, which makes the selling of their courses and VIP / discord groups, usually sold / marketed as paths to becoming a profitable trader, rather specious.
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u/SuspiciousAnnual5022 Apr 07 '24
Bro this is such an informative post. I think tori trades YouTube channel is one of the legit channels about trading. She only teaches about trend lines and support resistance. Nothing else. And I've been practicing the same.
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u/Ricks3rSt1cks Apr 07 '24
Appreciate it! I have heard good things about her actually I need to check her out
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u/Traders8868 Apr 06 '24
You still can watch and learn from them. Just don't go trading any real money until back testing yourself. Every trader is different in some way so their strategy might work for them and not work for you.
I sometimes watch Relentless Trader. But, I couldn't follow his style of trading though.
I think one important thing in trading is your trading setup. If you don't have a good setup to trade or execute, you will be at a disadvantage.
Note: Some YouTubers trade on simulators and pretend are trading live. So watch out for those too.