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“And those who were seen dancing were thought to be insane by those who could not hear the music.”
Your argument from above is that your lack of understanding reinforces or posits your belief that one who is successfully doing something you can't must be fake, or simulated. Do you understand how limiting of a belief that is for a trader?
Because real life performance isn't flashy enough for people. It seems a lot of retail traders expect to double the size of their account every month. Or they at least expect you to win most of the time. Putting a big number on your thumbnail draws in more viewers. That's just how it is even if it's not a realistic expectation. So you can trade sim or a combine account, and that keeps people entertained without taking on too much risk. When 95% of traders fail is it really so bad to just pay for your platform fees every month? Nobody wants to watch that though.
It's really quite ironic that we end up finding the opposite of what we're looking for. Humans are very observational learners. So the natural tendency is to go find someone that does it well, and try to copy them. The problem is that the best traders aren't going to show you. I've learned that there's real problems both regulatory and reputationally with making any kind of performance claims. The more established players realize it's just not worth it. You'll notice that the guys with the most established reputation in futures trading, the ones that we call to do webinars here, just don't talk about it. So if you're looking for the trader with the best claimed performance to copy, you'll almost certainly end up following someone that is either lying or doing something that won't last.
It just seems like there's this inherent conflict between good marketing, and what actually works. So ignore marketing. Look for empirical evidence instead. What kind of empirical evidence do they have to show that the principle they're teaching you is actually true? Most people can't come up with such a justification. They're going off something they learned somewhere else, or that seems to work for them. They don't actually have an empirical basis for their strategy, and that makes this check an incredibly powerful filter.
You will have similar problem on TV with other indicators too, problem is TV's backtest is very lackluster and its very easy to fool people with garbage baked under some fancy color. Especially since the ones that are allowed to sell can keep the code forever private and you don't even get the local copy of it for backtesting on other platforms. Its by design of the platform, I'm not calling out people here, I'm coder myself.
Not saying all are like that either, but very similar to YT, what's usually with highest fan fare there is usually least useful. I think that theme is very common to social media which is designed around general votes for popularity and then algo promoting it to new users. Increasing that "like" number and with that more promotions.
There was case of people making bot accounts to "like their own stuff" and TV had to tighten the house rules for that. lol
I think this comes with the territory atm, nothing new and nothing we can do about it.
I am inclined to believe what you say about TradingView. I have tried several paid indicators and they have never worked well. (these days I try to rent if I can so I am not stuck with junk) I think the common denominator is many of the Vendors create the indicator for a specific platform (and it functions) and they then began selling it to other platform users.
I tried an indicator from someone called Trader The Fifth It was junk and did not work on Forex pairs. I kid you not, when I conversed with him on the TradingView comment area, he told me not to use it for Forex pairs, but instead, use it for the Currency Futures. But when I rented the indicators for almost 300 bucks a month, I was told it works with ALL assets. So what does he do? He later removes the comments. I guess he figured out he was going to hurt any prospects with those who trade Forex pairs alone. 300 bucks down the drain.
Which leads me to the second concern about TradingView and lack of requirements to back test . There is no way to really criticize the Vendors who sell indicators on that platform. They only allow you to give a thumbs up, never a criticism. Like all of the other platforms, these are professionals who take existing indicators and add bells and whistles to them. They really dont do anything more than what the original does, but they make it prettier. Like putting lipstick on a pig.
They are all over MQL, TradingView and NinjaTrader. I dont have experience with the others so I cant comment. But I have witnessed Vendors selling junk with no accountability from the platform people. I just threw away money on something called CPX2. I watched the NinjaTrader Webinar and he said it worked on Forex pairs. So I buy it and while in the trading room I asked the owner how to adjust the settings. He says "I am not sure. I only trade TradeStation." Another large payment down the drain! But because he designed it to "function" on NinjaTrader, he is allowed to sell it with no accountability. It is a sad state of affairs. The money is not necessarily in trading, but seems to be in the production of indicators and of course, the trading education. YouTube seems to be the quickest way to get their products out.
Maybe you misunderstood me. It *can* be done, and I've seen it done. That's not the issue. I traded at a firm and sat next to a trader (who was much better than me!) who made $50K before breakfast on a somewhat regular basis. The issue I have is when someone pretends to trade live, when in fact he trades sim. I have no problem with sim trading--just admit that it's not trading, and disclose it.
Nice quote by the way -- but incidentally, you didn't address the actual content of my post. You waved your hands, and diverted attention away from the fact that your guy is trading sim. Which, again, I have no problem with, as long as people know it's sim. So, do you dispute the content I posted? Or, can you proactively present facts or data that somehow demonstrate that the video is not sim?
Regarding your post going frame by frame through the video, I have nothing to prove or disprove the authenticity of the trading shown.
It boils down to this for me: Lak's trading is real, I have learned an incredible amount of literally life changing trading knowledge from Lak, I want others to have the opportunity to see it and learn from it like I did. I know what it is like to be the young kid scouring the internet looking for successful traders to learn from, I've been there, read just about every book on trading, read just about every single major forum dedicated to trading, watched just about every youtube channel dedicated to trading.. the best price action trading/knowledge (in my humble opinion) is within the videos Lak created.
By the way, with regards to great trading information being shared freely on the internet, your posts and Tigertrader's posts are some of the best that come to mind on futures.io.
Ok -- but I didn't see any of this in the videos there. I've established that it's sim trading, you have claimed they're real. Let's just leave that aside. If it helps the viewer, it helps them.
Please share, if you don't mind, some of the knowledge you found. I didn't find any of Lak's videos to have anything actionable (and I did watch several of them back when he put them out, years ago), but maybe I missed some. If it's helpful, sim or not, it's a good thing. If the knowledge has come simply from observation of those videos, maybe if you can distill some of that into something that folks can take away to improve their trading, that would be helpful. If it's from conversations you've had with him, please share those, if you don't mind. You mentioned "look left, etc." -- please elaborate on that, if you will. It's reasonable but a bit generic, so any fleshing out you can do would probably be helpful to readers.
