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I purchased the double bottom indicator for Trading View. It just doesn't identify opportunities. Hardly does it show up on the D. It pulls up more of a divergence looking line than a "level" line.
And when you look at past appearances? Most just dont make any sense as to why it was called out. I dont know if it is because I trade Forex pairs, but I also have a free DT/DB indicator for MT4 and it seems to find almost anything that comes close. I contacted him and he said I needed to just play with the settings. I have and I did. Nothing changed.
The other thing that was cheesy is the indicator is only half an indicator. In other words, the indicators do not do both directions. Of course, that's on me, but when you sell an indicator that cant identify both directions, I think thats crappy. Like having to buy two RSI's one for going up and one for going down.
The only positive about getting half an indicator is you dont have to pay double in case you are wrong. I think? Sadly, like many others, it has ended up in the eternal bin for indicators.
Legendary / Stochastic Calculus is not your friend
Experience: None
Platform: Ninjatrader, Python API
Broker: CQG
Trading: S&P, Crude, Gold
Posts: 863 since Oct 2009
Thanks Given: 3,466
Thanks Received: 1,548
@faithdefender most people put way too much trust in indicators. Many of them are garbage....a few are not. I'm not saying that your double bottom indicator from Trading View is or isn't, I have zero experience with it.
I would say that most of us here on f.io have a box full of junk indicators that we spent thousands on. Keep searching for the light you will find it along the way.
cheers
DM
my apologies I think I'm a little off topic here, if it's a problem let me know and I'll delete this post.
I agree with you. However, in my experience, I have had more success with an indicator used on Futures and/or Stocks, than I have with Forex Pairs. I never tried the double bottom on anything but Forex.
Probably what I like the most about a few of the indicators I own is they have kept me out of many bad trades (if that makes sense) I have a hard time with trend.
If you are still interested in this original question, I propose that if you want the best reply, share what you trade, your platform, the type of trading you do and what your expectations/desires are for income.
Out of interest, I have seen just more youtube videos that I would care to mention.
They can provide a lot of info. Info that you can apply and info that you will avoid.
Even though I trade only the Nadaq100 futures, I have gleaned good info over the years from some that trade forex, stocks, options, Nadex, binary options and futures.
Here is a list of those that I have gleaned good info from:
Learn something from these folks or nothing. Maybe bits and pieces. I actually use key principles that each of the aforementioned teach on their channel. All free. This was done over a 4 year period.
Of course, how I think and act is unique to me. Each bit of shared information is like a tool in my toolbox. None of these folks could teach me to trade. But...... They helped me in my quest to figure out who I am as a trader. How I want to trade. What comes natural to me and what makes me happy in my trading life.
Someone said (paraphrased) "I could teach someone a high win rate strategy and they still couldn't make any money from it".
My wife and I poured over every bit of free youtube videos that we could find in regard to trading. After awhile, we realized that we had to teach ourselves.
My wife trades trends and is in her trades for 5 min. to 15 minutes. My average trade length today was .76 of a minute. My wife may put on 2,3 or 4 trades a day. Today, I made 47 trades in the first 75 minutes of the New York Session.
The bottom line: Consider every video, blog post or hints so that you can figure out what you want for your trading life.
Hope this helps a little. If not, please disregard and enjoy the journey. Best wishes!
I've basically learned everything I know from watching these videos COUNTLESS times and talking trading with Lak back when he still did the TIDDI room. He doesn't sell anything and he doesn't teach much of anything, just simply shows top level futures trading.
I am not seeing anything recent. Six years ago? Did he go out of business? Sort of hard to take this guy seriously when I saw most of his videos are music driven fast paced trades that took place. Does he have any educational stuff?
No, it's not a problem. Everyone should know that anything related to trading that is found online, especially if someone is selling something, is probably worthless and often worse, because it will generally cost people money in the form of trading losses.
It is not out of line to remind people of this.
Which doesn't mean that everything online is no good, just that most of it is, and the problem is that it all looks good until you try it.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Faithdefender, I understand how it can be hard to "take this guy seriously" because as a new trader or beginner trader what he is doing seems so incredibly foreign or difficult or "next level". I felt nearly the same way when I first found his stuff years and years ago but as I watched (and re-watched, and re-watched, etc) and spoke with him I came to realize my doubts in him were my doubts in myself. It's easier for us as humans to say somebody doing something we can't (at the moment) is somehow special or better or unobtainable to us. It's all ego protection tricks our minds play on us. I have a ton of experience in this industry now and I can say wholeheartedly that Lak is one of the best traders I have ever had the pleasure of interacting with and learning from.
I hope you and all other traders can learn and develop from his stuff just like I did.
There should really be a special warning for stuff on YouTube though. The same goes for Reddit, Tiktok, or any site with some sort of system that shows content to people based on engagement. The stuff that rises to the top in such systems will be the things that are the least likely to help in your trading. It's either highlighting content that is marketed the most, ends up being too common to provide edge, or it plays to the fallacies inherent in human behavior that really work against you in trading.
I've had some tremendous success being a content creator. The content I've made that I thought was giving the most away to people are my worst performing videos. No doubt in my mind that there's an inverse correlation between how popular something is and how much edge it can bring you. Such content is great for finding community and support, but be incredibly weary about relying on such sources for edge discovery.
I appreciate that but the link you provided says YouTube. I am not trying to be critical of what he does. I think you are misunderstanding my tone. I am saying I see nothing recent on YouTube. I see stuff with fish tanks and stuff with printers, but no educational trading vids. When I watch Scott Carney on Fridays, I see educational material. When I watch TraderTok, I see him covering how to trade M's and W's. Sara Start Queen? Educational. Alex's Options. etc, etc. That is what I am looking for. I wasnt saying he is good or bad. I have about 75 subscriptions to different people I like and some are worthless. I wanted to give Lakai a chance to prove himself, but couldnt find anything. Thanks.
