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my thoughts about youtube videos & trainers, plus my technical chart advice


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my thoughts about youtube videos & trainers, plus my technical chart advice

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  #11 (permalink)
 BA 21 
Southern MD
 
Experience: Beginner
Platform: TWS
Broker: Interactive Brokers
Trading: U.S. Treasury Futures
 
Posts: 46 since Feb 2017
Thanks: 17 given, 79 received


thoughtful View Post
I was just browsing on youtube a little recently. OMG there's SO MANY people trying to sell their training. OMG they charge alot too -- like $200 a month or $1000 lifetime subscription, etc. I looked at some of their videos explaining how to trade. OMG BARF! Or they don't even show you what they really do LOL. Hey, maybe some are good, IDK, it just seems funny to me.

My interest in trading started in 2003, before advent of YouTube. Back then, newbies went to the Internet to get information. I remember buying courses and receiving CDs through the mail. Peter Bain's and John Murphy's courses come to mind. From 2003 to 2016, my interest dithered as I wasn't looking to trade full-time and investing in penny stocks was my solid second stream of income.

In 2016, I started taking trading more seriously. Since I was interested in trading interest rate futures, I started searching YouTube. I came across two people offering that specific education. One was legit, the other was questionable. Luckily, I chose the legit offering.

Now, on to my point.

1. When it comes to seeking trading education, a YouTube search helps for those with a clue.

2. One has to use a filter to sift through the BS. The filter is comprised of the following:
  • Does the trader have professional trading experience (i.e., he/she worked at a prop firm, investment bank, in the pits, etc)? If the trader doesn't have professional trading experience, does he/she have an extensive public archive of live streams of his trades?
  • Is the trader actually trading?
  • Is the company that is offering education a subsidiary of a trading firm?

If any of the above is No, then it's a quick pass.

3. Those who can do, those who can't grift.

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  #12 (permalink)
goodoboy
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thoughtful View Post
IDK why anyone would use heiken-ashi bars, IMHO I can't see what the point of them is. The purpose of renko is just to eliminate alot of the bars in between the swings, so you can fit more data on the screen, and just to make it easier to look at I guess. Point & figure is the same as renko but it doesn't show any bars in between the swings.

Range bars are the same thing as renko, except that they show the overlapping bars. However most software doesn't calculate renko exactly the same as range bars (like it should), so range bars are the #1 defacto standard. Plus sometimes the overlapping bars of range charts makes a 2-bar swing, when renko only makes a 1-bar swing, and since usually everyone wants to filter out the tiny 1-bar swings, then with renko you would miss that 2-bar swing.

About time charts, if the market moves fast then a bar may be large, so if an algo is waiting for each bar to finish before doing anything, then it'll miss some fast moves. Whereas range bars are always the same size so you know your algo won't miss any fast moves. Yet lots of people still use time charts. I guess they like losing money LOL.

Hello thoughtful,

LOL your post is very funny thanks for the laugh.

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