Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I somehow stumbled on this guy after watching trading podcasts with people trading "Smart Money Concepts" and spend a good few hours going down the rabbit hole this dude has produced. Probabily the biggest fraud ive ever seen with the largest scam network of cult like followers ive ever seen, every single one of them are offering to teach this guys strategy for large sums of money.
I watched him recently livestream several consecutive losses in a row (after claiming 96% win rate with very high R:R) and blaming it on the market "algorithm" targeting his personal stoploss. Its so absurd its comical, but these people are fleecing good people (however naive) out of their hard earned money and time, and thats just wrong.
In this video below, one of ICT followers were threatening this dude with killing his children and all kinds of horrible things because he is exposing ICT. Its insane.
There is some value in posting other peoples' online video reviews of a vendor, but it's not the same as a member posting their own experience, and it has its dangers -- such as that you may simply get a competitor's criticism of someone they have an ax to grind with, or whom they want to harm competitively in the marketplace.
I don't know the source of the first video posted, but the second is none other than Vinny Emini, who is the subject of a very extensive review thread on this forum, largely by members who have experience with him.
Anyone curious about Vinny's credibility can do a search for that thread, but it's a long hard slog that I don't wish on anyone:
One of the things I recall from reading the Vinny thread over the years is his long feud with ICT, which for some reason has been important to him. I had never heard of ICT before reading some of the posts in the Vinny thread, and frankly, and thankfully, I had never heard of Vinny before that thread either.
Let's have review posts that reflect the actual experience the person posting has had with the vendor. There's much more value in that. If posting something from someone else, let's only do it, if at all, if it's from a validated source that you are willing to stand behind.
Not a criticism of @RatMonkey, just a guideline for the future. You never know what's behind anything you read on the internet.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Understood, and it probably looks bad considering I have almost no post history as well. No idea who vinnie emini is and i dont believe algos work at all, but the substance of the video is absolutely wild.
Is posting Inner Circle Traders own videos and commenting on that ok? He calls price action "tape reading" and takes several losses in this video literally blaming the market and the fact that his stoploss is "public". He says that he cant trade live because so many people will copy his trades and the "algorithm" will then target his stoploss. He says the game is rigged and "the algorithm" will hunt his "public stoploss". Any intermediate level price action trader can see hes just trading against the market.
Theres alot of scammers in the trading space but the breadth of this dudes reach is staggering, and hes got thousands of people selling his stuff and selling signals and courses everything else. Its insane, Ive never seen anything like it, whole entire podcasts dedicated to bigging this all up and it really does alot of damage in time and money to people who dont know any better.
Anyway, if this is still out of line then please remove it. Not trying to break rules, I just cant believe the scope going on with this guy. You can barely see anything on youtube or social media trading related without being bombarded with this guys scams and all his scamming followers.
Posting and discussing his own stuff is obviously relevant, Just not some random critic. If the critic is someone who you think is trustworthy, then that could be relevant. It depends on the source -- if you don't know them, then don't post them would be a good rule of thumb.
I've never seen anything of his on the internet, but that may be just because I don't look for anything related to trading on the internet ( ), and certainly not on YouTube. Why not? Well, because that way I don't see any vendor's nonsense. Is there something real out there? Probably, underneath all the BS. Is it worth looking for it, or getting upset (or surprised) when you find all the stuff that's worthless? Not really.
But posting his own videos is OK. It's him, after all.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Absoooolute, what i really don´t like and even don´t understand, that soooo many people still don´t understand at all what is this business about. All of them, are talkin about what somebody else is making or not making or faking ...."who the f....cares about it" If somebody else makes money, what does it mean for me and myself? NOTHING !!!!! and nothing at all. Even if i have a backtest for a system or robot or what else, does it anything mean what will happen in the future? NOOOOO! Every system is good as long as the circumstances of the markets are changing. Every system has circumstances, where they do not work! .....all these f..... "followers", my goodness, as long as you don´t understand, that you have to find you own way, you won´t make any money, that simple it is. If you don´t understand what you are doin, you cannot understand any system. My father had a good saysing, he worked for 35year for the German Bavarian States Bank and was responsable for this sector. He said, "don´t forget, this profit is not your money, the market only has borrowed you this money and the market will get it back from you, always!"
And please avoid telling me, "yeeesss, but the brother of my uncles aunt here cousin is following the bla bla bla and made bla bla bla", yes and what does it mean? Nothing, even if I will make some money one time or two times, it will never be sustainable and lasting through years or a even life span. ........sorry, but yes like you said Bob, "underneath all the BS", and this is really demanding that you have to dig deep to find something what is helpful for YOURSELF!
But back to topic!
YES, what Michael Huddleston is doin is helpful. What it is about? He talks about, that institutional and big traders through there algorithm´s are always and again catching everyday market situations to slaughter the masses. Sounds reasonable and obviously this works quite well. If you want any proof, look at the profits of the tradings departments of Goldman and so on, they make money, every year. And this money comes from the crowd. But they have one disadvantage, there advantage is also their disadvantage, they are quite big and have huge amounts of money, that means any changes last some time. They have thousends of really clever quants who are workin every day to adapt their algorithms. So, It will change, no doubt, and you have to be careful to realize it.
We all are searching for situations for a higher likeliness, and these smart money concepts provide this. Not always, but sometimes and even sometimes more. BUT, from an advantage, what it is doubtless, to a profitable trading system there is a long way. I actually try to implement it in my trading approach, we will see.
Interesting and worth to consider? Yes it is. .....unfortunately the Videos from MH are quite long and a lot of talking around what i am not interested in. My advise would be, to see some of his videos from 2022 and some of the actual ones, the one about the silver bullet system, but first of all see some of the good comprehensions, one was mentioned above from NomadCapitalFX, that is nearly three hours, but quite good. Consider that there are many approaches within and this changed also during the past years. Nevertheless, find you own way, anything else don´t works.
The only problem is that this is not whats happening at all. The institutions are moving the market, yes, but they have absolutely ZERO concern about where retail traders are in the system, we are completely insignificant to them. Its not even possible, mathematically, for any retail trader to have any effect on the market no matter how big a position as there are only so many contracts traded in any one tick. The institutions are not hunting retail or slaughtering the masses, they are moving the markets and hedging their bets and shuffling billions around for various different institutional reasons and again those reasons have nothing to do with us. Retail is along for the ride, and the market has been doing the same things over and over again for AGES. It just moves between support and resistance (supply/demand/whatever phrasing you like) in various forms of trends and trading ranges and is a representation of the human psyche. It was moving the same way before computers were doing the trading, and its moving the same way now. The markets can not just shooot around illogically "targeting" people, it only works and grows like it does because its profitable to so many participants, if it was illogical, everyone would lose money and stop playing the game and the markets would die, but they dont, they grow.
Thats what angers me about ICT's fraud. Hes lying to people, misleading them, leading them to believe the game is rigged and the only way to find success is to look at his content for the key to the system that only he has. He has never shown any long term success at trading, acts like a literal psycho, and has hundreds, maybe even thousands, of "gurus" selling his stuff online through various signal groups and telegrams and discords and whatever else. Entire podcasts dedicated to bigging up this scam and drawing in more people.
I am not in any way a fan of government regulation, 99 times out of 100 federal regulation does more harm to the people than good, but in the case of online trading gurus and trading courses being sold, ICT and SMC has made me completely reconsider my position and I now believe we need to regulate these people and require anyone who profits from selling courses about trading to prove through a third party that the system they teach is in fact traded by the teacher and is successful. We do it with damn near everything else in just about every other industry, and this regulation would actually help people.
The market is a representation of the human mind and millions of participants and resting orders and live orders all floating around in space in various forms of agreement and disagreement in what price point is acceptable at any given time and for a thousand different reasons. Its not any 1 algo, its thousands. There is no changing "model" because the market is completely fractal. You can be in an all day downtrend on the 5 min chart, but a strong uptrend on the daily chart, there is no central cohesion other than a rough institutional price target and thousands of different layers in between of various participants doing all sorts of different things.
The overwhelming majority of people online selling things and creating content, they cant trade. They make money from sales online and through views, and thats just part and parcel of living in a free society with free speech and freedom of expression (used to be anyway), and even though there are scammers its still a net positive to be able to express ourselves even with the scammers. HOWEVER, ICT and SMC are damn near institution level in their scam to the population and its a real problem. I really feel bad to any person coming into the market right now, the level of fraud in the teaching and information space is astronomical and its almost guranteed that they are going to lose their shirt trying to trade a bullshit "model" in markets that are already extremely cutthroat in a field thats completely zero-sum win/lose.
Anyone reading this post should take it to heart and seek out one of the few known good traders out there and learn from them, because they do exist, but are rare as hens teeth today. ICT is not real.
Just look at this post from his youtube community. Takes several losses live and its not his fault, its yours LOL
ICT can make you money, but it's not in trading. Youtube ICT method, and there's hundreds of people posting about teaching the ICT method. It's like scientology, those people have ascended to the next level.
), and certainly not on YouTube. Why not? Well, because that way I don't see any vendor's nonsense. Is there something real out there? Probably, underneath all the BS. Is it worth looking for it, or getting upset (or surprised) when you find all the stuff that's worthless? Not really.
