MNSTrading 

its a cool name. Hope they aren't just a bunch of circle jerks. LOL

lol catchy name. personally I prefer to stay on the outer circle. works for me.

It's funny to see people who don't follow what the topic teaches and have never studied the concept come here and say it's a fraud based on haters who made videos for YouTube. Is that seriously enough to say it's a fraud? LOL.

Here in Futures.io we can find topics criticizing Al Brooks for not showing whether what he teaches is profitable, but many here use the method and are profitable with it. Many criticize Market Profile (which Jim Dalton has already said is a "holistic" trading method) and many use it and it is profitable.

I've been studying SMC (or whatever name you want to give it) recently from Photon and it presents a rigid trading system with no room for interpretation. I got his latest course and it presents real numbers, made with manual backtests presented there for the students. REAL data, guys.
He also maintains his group on some free channels and everyone can follow what he is doing transparently. Do I believe 100% in everything? No. But I'm there with a little energy that I have left to really prove it BEFORE making any criticism.

I don't care if he's wrong about big institutions. Maybe he's lying or maybe he doesn't really understand. But why focus on his fundamentalist analysis of institutions instead of focusing on the technical system that can be created from what he teaches? Human beings are always trying to find the problems and forget to take the good out of everything.
Warren Buffett once said that cryptocurrencies would end badly and that he would not invest in them. Today, BlackRock has a significant portion of its investments in BTC. In other words, one of the richest and most "intelligent" guys in the world made the dumbest analysis of his life.

I'm sure those who criticize are over 50 or 60 years old (like me) and really don't want to learn anything new anymore, but criticizing a system based on YouTube reviews videos or "something that appears in my mind" seems funny to me.

I remember when Bitcoin was created and it started to be traded on the market. I and many others here at futures.io criticized it and said it was a scam, etc. If we had sold our houses to buy Bitcoin back then, where would we be today? LOL

I've been going to some groups and I see this new generation laughing at us exactly for this reason, we are the boomers with no energy for new things, definitely.

calafrius 

It's funny to see people who don't follow what the topic teaches and have never studied the concept come here and say it's a fraud based on haters who made videos for YouTube. Is that seriously enough to say it's a fraud? LOL. Here in Futures.io we can find topics criticizing Al Brooks for not showing whether what he teaches is profitable, but many here use the method and are profitable with it. Many criticize Market Profile (which Jim Dalton has already said is a "holistic" trading method) and many use it and it is profitable. I've been studying SMC (or whatever name you want to give it) recently from Photon and it presents a rigid trading system with no room for interpretation. I got his latest course and it presents real numbers, made with manual backtests presented there for the students. REAL data, guys. He also maintains his group on some free channels and everyone can follow what he is doing transparently. Do I believe 100% in everything? No. But I'm there with a little energy that I have left to really prove it BEFORE making any criticism. I don't care if he's wrong about big institutions. Maybe he's lying or maybe he doesn't really understand. But why focus on his fundamentalist analysis of institutions instead of focusing on the technical system that can be created from what he teaches? Human beings are always trying to find the problems and forget to take the good out of everything. Warren Buffett once said that cryptocurrencies would end badly and that he would not invest in them. Today, BlackRock has a significant portion of its investments in BTC. In other words, one of the richest and most "intelligent" guys in the world made the dumbest analysis of his life. I'm sure those who criticize are over 50 or 60 years old (like me) and really don't want to learn anything new anymore, but criticizing a system based on YouTube reviews videos or "something that appears in my mind" seems funny to me. I remember when Bitcoin was created and it started to be traded on the market. I and many others here at futures.io criticized it and said it was a scam, etc. If we had sold our houses to buy Bitcoin back then, where would we be today? LOL I've been going to some groups and I see this new generation laughing at us exactly for this reason, we are the boomers with no energy for new things, definitely.

Exactly! Bitcoin went up, so ICT may be good as well! Great points!

planetkill 

Exactly! Bitcoin went up, so ICT may be good as well! Great points!

LOL, the "points" are not about BTC, It's about the behavior of people who think it's bad without trying it.
These "points" contain elements of sarcasm and rhetoric. Things taught in high school.
Read it again and let me know if you understand it on the second try.

calafrius 

Warren Buffett once said that cryptocurrencies would end badly and that he would not invest in them. Today, BlackRock has a significant portion of its investments in BTC. In other words, one of the richest and most "intelligent" guys in the world made the dumbest analysis of his life.

Just because the outcome doesn't align with his analysis doesn't mean his analysis is flawed. Imagine he's standing next to the roulette wheel, correctly analyzing that it has a negative expected value (EV), so he chooses not to bet. Then, 10 people come to the wheel, each betting their life savings, and all of them win. Does that make his analysis wrong?

Dmonz 

Just because the outcome doesn't align with his analysis doesn't mean his analysis is flawed. Imagine he's standing next to the roulette wheel, correctly analyzing that it has a negative expected value (EV), so he chooses not to bet. Then, 10 people come to the wheel, each betting their life savings, and all of them win. Does that make his analysis wrong?

"Buffett is against Bitcoin and crypto in general. However, this stance does not entirely translate into his company's investments. Berkshire Hathaway is heavily invested in Brazilian fintech Nu Holdings Ltd. The investment was its strongest performer in 2023".

Now imagine what the outcome of this will be in 2024. Or did he sell his stake in this?

His analysis was completely wrong because he was stuck in time. It wasn't a Vegas bet, he had enough time and fundamental elements to have BTC.
And I'm sure he knows he was wrong. But let's face it, he's the Buffett. A Buffett is never wrong.

There's a 3 years ago comment on reddit about him, in a thread about BTC, that says this:

"Warren buffett is just an old dinosaur. He's stereotypical of what you'd expect of someone from that era. He doesn't understand tech therefore isn't interested in learning about it or believing in it."

This is totally in line with what I meant in this thread about ICT concepts.
In this case, people don't even understand social media (like Youtube and Tiktok videos). They don't know that talking badly about something that is popular generates money and they are using these videos to justify that something they don't know about doesn't work.

calafrius 

His analysis was completely wrong

And why is that?

calafrius 

This is totally in line with what I meant in this thread about ICT concepts.

To stay on topic, let's talk about ICT.

You said:

calafrius 

It's funny to see people who don't follow what the topic teaches and have never studied the concept come here and say it's a fraud based on haters who made videos for YouTube. Is that seriously enough to say it's a fraud? LOL.

It's really easy to downplay critics by just calling them haters. But look at the facts. This guy can't trade. Every time he tries to proof that he is profitable, he always fails. During his live streams he is losing money. He failed the Robbins cup multiple times, every time he tries. He just rambles... excuse after excuse after excuse. If you can extract value from him, good for you. I personally would not want to waste my time with him. Why should I want to learn from someone who can't even himself do what he claims? Why waste my time with a liar?

People like him, who talk about strategies but can't make them work themselves, are everywhere all over YouTube. I think it's good when people expose them and the truth comes out. Maybe that stops people from wasting their money on these frauds. And yeah, I think you are a fraud when you claim you are profitable to sell courses while in reality you are a unprofitable trader.

Dmonz 

And why is that? To stay on topic, let's talk about ICT. You said: It's really easy to downplay critics by just calling them haters. But look at the facts. This guy can't trade. Every time he tries to proof that he is profitable, he always fails. During his live streams he is losing money. He failed the Robbins cup multiple times, every time he tries. He just rambles... excuse after excuse after excuse. If you can extract value from him, good for you. I personally would not want to waste my time with him. Why should I want to learn from someone who can't even himself do what he claims? Why waste my time with a liar? People like him, who talk about strategies but can't make them work themselves, are everywhere all over YouTube. I think it's good when people expose them and the truth comes out. Maybe that stops people from wasting their money on these frauds. And yeah, I think you are a fraud when you claim you are profitable to sell courses while in reality you are a unprofitable trader.

That's why I insist that lack of knowledge leads to these unfounded prejudgments. He says several times in all his videos: "You have to do the backtest". What people fail to understand (without even watching the content) is that he is not teaching you when to enter and when to exit a trade, but rather a concept. We all agree that he's not good at it, including himself.

Based on this concept, some people created setups. That's why you'll see many YouTubers teaching based on this concepts and people selling mentoring because they were able to create setups based on their own backtests. I even mentioned in my first comment that I'm not studying with ICT, but with another guy who created a setup based on ICT concepts. He is terrible at teaching and his channel does not follow any logic to learn. They are random videos.

I'm studying with a guy who shows all the results of the backtests he did on the setup he created based on the ICT concepts, he also is an active trader who shares his daily entries and top down analysis of the week in a telegram group. In other words, he understood what the ICT says and created his own way of trading. You won't find everyone who uses this concept necessarily making the same trades. Some will be more successful than others because, again, the ICT leaves you free to create your setup: where to enter, place your stop loss, etc.

I'm not going to promote anyone here, but I'm also in a free group with another guy who also has great setups based on ICT. He's live every day in this group doing his NQ trades live. I've been watching his trades for 2 months now and he's consistent and profitable. For me, personally, it's enough for me to "waste my time" studying the concept, without preconceptions.

I really hope it's clear now what this is about.


Off topic and answering your question. Buffet was wrong because he thought that his conservative invests that worked in the past would continue to work in the future. And we all know that past results are no guarantee of future results, right?
And the dinosaur continues to bet on fiat money.

calafrius 

That's why you'll see many YouTubers teaching based on this concepts and people selling mentoring because they were unable to become profitable traders.

Here, fixed that for you.

calafrius 

I'm studying with a guy who shows all the results of the backtests he did on the setup he created based on the ICT concepts, he also is an active trader who shares his daily entries and top down analysis of the week in a telegram group. In other words, he understood what the ICT says and created his own way of trading.

Sure, and because he is so wildly successful with his trading he needs to sell courses and he needs YOU to pay him $149 per month so he can sell you his system which is making him rich. Absolutely no conflict of interest...

But yeah, he probably just does it for passive income, or that he really just has a passion for teaching. Never heard those before...

But I guess you are profitable then, correct? I mean he provides a mechanical trade plan which is extensively backtested. It should be easy to copy his results?

It's interesting to see that even after it's been proven that most of these people can't make money trading, the next guy selling courses or mentorships is different from all the others.

I wish you the best of luck with your trading and hope that you will become profitable.