trading hundreds of contract everyday? Real or no Real?
Hey guys, been to the website tradeitdontdate.com for a while and watch his videos. I have to say it is very inspiring to see guy trading hundreds of contract and consistently making 200k everyday. Thats what I am dreaming for. So for the pass weeks, I have been to his website and able to watch his live stream for few times. However, Something just doesn't feel right. Yes, you see him up 6 figures, but how so? I don't know because he opened live stream after he already up about 500k( forgot what is the exact amount). one time he was short and up about 60k, (again, don't know when he was shorted), and price just hit a bottom and start pulling back to his entry price. I was really interested to see how he would managed that trade. Then he just close the live stream. What??? Serious???
Now I am not saying that he is not a good trader? But I really suspect that this is another "GURU". The Ads on his website, (also ad from Ninja Trader, which is the broker he used in the video). would a millions trader care about those income from those website advertisement? Also, he has been trading for 8 years, so I guess 2007? In the video from 2010, he was already trading 500+contracts. WOW... don't know what to say. I don't know what he do it. But sure there are a lot of trader look up to him like a god.
To be honest, I think this guy definitely has some trading knowledge and skill for sure. But he's performance is just unjustified base on what I see. Don't get me wrong, I really hope that this is a true story, and not just another guy trying get pay by getting people viewing his site.
I am not a good trader, and only been to his site for a short period of time, does anyone here has experience in his website? What do you guys think? Real trader or not?
He's not a teacher or a guru or anything like that, just a guy that trades and enjoys what he does.
I was in your shoes a few years ago, doubting his trading and videos. I came to realize that the doubt was a form of trying to comfort myself from the idea that someone out there was so much better than I was and making it look easy. Oh, a guy making hundreds of thousands in a day while I'm trading my hardest and losing hundreds (if not thousands some days)? Gotta be fake, yep, gotta be fake. It's a false comfort we as humans can delude ourselves into thinking/believing.
The more I got to know Lak through his videos and livestreaming, the more I realized that I can achieve whatever I want to achieve with my trading, it just takes hard work that very few people will ever put in the effort to make it happen.
Lak has put in the hard work and has made it happen for himself and his family on a scale unimaginable to the average losing/break even trader.
You are quite lucky to be watching the livestream actually, he's not been livestreaming for a year or so and just came back last week.
We do know that there are traders out there that can make this kind of money. One proven example is a London guy named Nav Sarao. He came to the fore last summer when he was charged by the CFTC for market manipulation.
Manipulation aside, there are records in the complaint lodged by the CFTC that show he was trading on average 10,000 round trips a day, with average profits of 90k a day.
Sarao engaged in high volume scalping - Not for the faint-hearted
Last edited by xplorer; January 23rd, 2016 at 06:06 AM.
Seems like a very simple scenario if he is trading with that much size. Just watch the time and sales tape and see if his trades actually show up. If he's trading any round number of contracts in single blocks, e.g. 50, 100, 200, 300, 500, then it won't be that hard to track him live in the markets. If he is using a simple algorithm to reconstruct his blocks and fire them in singles, that's a bit harder. But surely for example, if he's day trading, then at some point he probably fires a small block order and then you should be able to see whether or not that trade was real looking through the time and sales.
Watch some of his stuff about 4 or 5 years ago and made the mistake of showing it to the wifey poo..... then of course right then, as he does a lot, he flashed up on the screen these chicks with big ones....boy did I get it.....lol....lol
Doubt kills more dreams than failure ever will. Perfect: the enemy of Done. per∑fec∑tion∑ist: ultimately one lacking self-confidence
Buy Low And Sell High (read left to right or right to left....lol)