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Oh btw just realised, very sorry for taking this way off topic which was youtube, but I'm done on this subject anyway, I'm old enough to realize that facts won't sway opinions of people who truly want to believe anyway, so no point for me going on.
Last word from me, nothing succeeds like success, so if you want to have a chance, figure it out yourself, its not rocket science, the challenge is between your ears and nowhere else...
or do what I did and go look at those who have demonstrated in real life that they can put their money where their mouth is.
So I suppose in the sense of this thread look at people like Linda Raschke or Paul Tudor Jones (great video with him where he talks about importance of positive risk/reward ratios)on youtube, or at the very least with people who also have an equity curve on one of those sites that do that.
(Eg profitly to which I have zero connection, but there are some very successful traders there who also have youtube videos and what they're doing at least seems consistent and based on a simple and reproducable method, and, no, I myself wouldn't touch penny stocks, but trading is trading and a lot of what I see them doing is what I do on index futures)
I can confirm that Anthony's archive of videos is very impressive. I jumped around from trading styles for a while until I found his videos, and I basically have adopted his style of trading since then. He has a few things that he teaches about the markets that are so dang contrarian, and once you start looking at the markets that way, it is really hard to think about whats happening in the markets in any other way. He has hundreds of videos on youtube, and they are all pretty unique. Someone else said FT71, and I would agree with that too. I give Anthony the slight edge though just because of how much content he actually puts out.
Richard Feynman, the great physicist and Nobel Prize winner said: "If you cant explain something in simple terms, you dont understand it". This applies to trading as much as it does to physics.
Is this the essence of what you learned from him? I'm curious whether you are successful with this method and whether you have achieved consistency with your trading. I know nothing about "Lak" except that his YouTube videos ceased around 3 years ago. What happened? His website triggers a hijack malware alert. Can you demonstrate a few recent trades where you used his methodology? Thanks.
I'm constantly fascinated by BookMap but won't touch it until I see someone trading off it in real time for a length of time.
Are there any YouTubers that trade off BookMap?
I did for a few months. It's a great program. I found some benefit from it. You might give it a go. Due to the the very short length of my trades, I found TickStrike to be more suitable for me.
Both are just great tools. Either a shoe fits or it does not.
Traders trade so differently and perceive information differently. Bookmap was just a part of discovery of how my own brain works.
I am not as sharp as those that use Bookmap. But after all, programs and indicators are just tools to help us get our job done.
There can be many reasons. Ego, look for many views to monetize from youtube (Douglasontrading for example), etc. In any case if you think itīs not sim trading, you learn from it and you manage to make money, good for you.
The only thing I would like to add to this topic is that before making any "investment" on trading system, it is worth to ask:
Why these people are selling their hard work secrets for such small amount?
After a few years with this question I heard:
1) Ego - they like to show off, which does not make any sense to me because no one will recognize them in their circles.
2) Make more money - ridiculous, just scale up and see what happen
3) Try to find a real job - That sounds more reasonable, if they have the knowledge but don't have the money. They can prove themselves, promote and try to find a HF headhunter to bring them on board, although the chances are very low.
4) Academic - They have the will to teach something. it could be trading or cooking.
Traders need to start thinking why other professions like brain surgeons don't record youtube videos explaining how to remove tumors. Imagine a doc saying: "You can make 25K in an afternoon, if I can do it, you can do it..."
While I agree that a number of the cited "reasons" for these "gurus" to make videos make little sense, some - e.g., #2 - have a bit more subtlety to them than the black-and-white "haha, so ridiculous" interpretation. Scaling up is not all that trivial - the number of contracts you trade is a direct result of your risk model, so you can't simply go from trading one lot to a hundred. Meanwhile, the effort necessary to make a video while you trade isn't all that much - and assuming you can talk a good line of patter and attract paying customers, the money that comes in has little to no risk/downside. Not to excuse any of them - I strongly believe that 999/1000 of these "gurus" are just smooth-talking fakers - but blithely dismissing everything for bad reasons will make you miss the bits of good advice that are out there.
Also, from a guy who has spent a number of years creating Open Source software and running publications for the benefit of a community (e.g. Linux Gazette): #4 is quite a bit more important than you make it out to be, especially for successful people who feel that they owe something to the communities that helped them become successful. Much of my trading skill and ability came from being helped by successful traders who were happy to share their knowledge - strangers giving away something tremendously valuable to a guy they didn't know from Adam, simply because I asked them to help. I don't know about you, but I strongly believe that this imposes an obligation on me - and the greater the success, the greater the obligation - and I'm certainly not the only one who feels that way.
Last: the primary purpose and the direct goal of a trader is to make money - so for someone demonstrating how to trade, saying "you could restore someone's circulation and save their life with this technique" would make no sense - in the same way that it would make no sense for a doctor to talk about how much money you could make while demonstrating medical techniques. And there are plenty of medical education videos on YT - a former GF of mine who teaches nursing uses them quite extensively, and as a former medic, I found their quality to be excellent. (In fact, one of them specifically demonstrated removing a rather large brain tumor - she used it to underscore the principle of "saving the penumbra".)