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This question should be "Who on YouTube should be avoided" as there are 1000's of hours of great content on YouTube as there are all over the internet.
Also its too vague of a question. Good traders? Good traders arent necessarily good teachers. And teachers of what? Basics? Fundamentals? Technical Analysis? A strategy? Risk management? Psychology? Trading records? Backtesting?
So far the only posts Id listen to are the AVOIDS.
I didn’t know mentioning his name would bring about this much vitriol. Let me say that I’ve been through almost everyone mentioned in this thread on youtube and I’ve used my own discretion to see if what they were teaching or conveying actually worked in the futures markets. I don’t advocate anyone paying anything whether that’s a membership or trade room as there are plenty of free educational resources to learn how to trade. The most important method IMO is endlessly spending time with the charts and figuring it out on your own as far as market structure and price action is concerned. If anyone has done anything illegal they should be prosecuted and held accountable. The most frustrating thing about the trading community is the hypocrisy. We are ultimately trying to find an edge so we can take other people’s money so in general we aren’t in the most noble profession to begin with.
That is one perspective. When I trade (important concept) I enter the market and transfer/exchange/buy contracts/stocks with a willing entity. We both believe we are correct in our assumptions and mutually enter the exchange willingly. There is noting ignoble that I can see.
Knowledge is power and and if you have a piece of knowledge that the other participants don’t you are taking advantage of their ignorance. Just as I could charge a kid $100 bucks for a snickers bar and he willingly pays that price. There’s nothing illegal about that it’s just that kid doesn’t know the market value of a Snickers bar. Such is the advantage seasoned traders/investors have over newbs.
Thanks, this is helpful. I'd like to hear other's perspectives.
There are two assumptions:
1. An adult is taking advantage of a minor.
2. Traders prey on ignorance.
Supply and demand are real things, ask anyone that has experienced an intolerable situation like a natural disaster - money is less important than safety and unscrupulous persons will seek to profit from these emotional needs in disasters. Trading is optional, we can assume no day trader is forced to trade, no day trader is caught up in a life situation, as a trader, so that they can never control their trading actions.
Life is about choices; generally bad choices are negatively rewarded and generally good choices are positively rewarded in all areas of life. We can think of situations where the opposite is true, but in general, awareness of one's poor decisions begins to influence one's future bad choices.
As an adult, I can have considerable influence on minors. Day traders are not minors; 18 is the minimum age set by most brokers for opening an account. This is because 18 is when a person can legally enter into a contract on his own. They are not minors.
There is no transaction, I know of, within the day-trading market that is based on ignorance. It takes considerable effort and determination to just to get access to the markets. One must have some capital and intentionally find and provide that capital to a broker or agent. As far as I know, no one accidentally becomes a day trader.
There is no moral choice here; within the day trading market it appears to me there is no control I can wield unless I am capable of moving the market or the information stream. My influence is in balance with every other day trader. In the randomness of the market, the only influence I have is over myself. "Such is the advantage seasoned traders/investors have over newbs".