Learning to trade from youtube

[wackypete2]

A real institutional trader explaining, amongst other things, who causes the market to move to your stops. The answer is, in fact, you

Not completely true. What he says (between 13:00 and 14:00) is if you put $1 million in stops at a level, it's nothing but when 90% of hedge funds (=$$billions) put their stops at the same level then naturally the banks will drive price that way.

In other words your 10p/pip stop is not relevant unless you place it where the big funds place theirs, and that's what many new traders do.

Peter

 

[wackypete2]

I have more comments on that video here:
http://www.trade2win.com/boards/for...n-interviews-batur-asmazoglu.html#post2211734

Peter

 

[BeginnerJoe]

Not completely true. What he says (between 13:00 and 14:00) is if you put $1 million in stops at a level, it's nothing but when 90% of hedge funds (=$$billions) put their stops at the same level then naturally the banks will drive price that way.

In other words your 10p/pip stop is not relevant unless you place it where the big funds place theirs, and that's what many new traders do.

Peter

Big funds place their orders through the bank traders. Little joe's orders go to the algos. It's true big stops attract market moves. As for beginners knowing where these big stops are and follow with their own stops there is unreasonable.

My experience is that 0.0001p/pip (10p/pip would be a big order) stop is highly relevant to the algos especially in thin markets when the algos have nothing else to feed on.

I believe all stops are taken, large or smalls, or nano-scopic. Basically anything > 0.

 

[Pat494]

Well whatya expect from free videos ?

Perhaps someone knows of a worthwhile video course which one may have to buy ?

 

[BeginnerJoe]

Well whatya expect from free videos ?

Perhaps someone knows of a worthwhile video course which one may have to buy ?

I can gather all the videos in this thread into a course for you. What price would be good for you ?

 

[wackypete2]

Big funds place their orders through the bank traders. Little joe's orders go to the algos. It's true big stops attract market moves. As for beginners knowing where these big stops are and follow with their own stops there is unreasonable.

My experience is that 0.0001p/pip (10p/pip would be a big order) stop is highly relevant to the algos especially in thin markets when the algos have nothing else to feed on.

I believe all stops are taken, large or smalls, or nano-scopic. Basically anything > 0.

That doesn't even make sense.

Peter

 

[BeginnerJoe]

That doesn't even make sense.

Peter

It was what I saw from 24/5.5 trading. Although I have stopped seeing them now that I have no stops. The latest thing I am seeing is price moving to slightly beyond my BE on the negative side. Price likes to park there in thin markets such as pre-news or outside of UK hours. I pre-empt it by taking profits. Then the parking spot is reached much sooner.

In fact this is what I have done a few minutes ago. I took the profits and feed it some orders at the same places. But the bank algo is not taking the bait. The orders will be filled anyway when the volatility spikes during news.

Although I do have profitable long positions in AUD/NZD at the moment that I am not taking. I expect it to move in my favour. The price is currently parked at a few pips positive of my BE. I presume I was supposed to be tempted out. But I am not budging. The profits will be mine.

 

[timsk]

In answer to a previous complaint that there were no full strategies being shown in the videos, here's one.

Hi BJ,
Well, to be fair to you, IMO this is one of the more interesting offerings about trading on YouTube that I've seen. However, it's not going to be to most people's taste, not least because he (the speaker, Joseph Nemeth) advocates averaging down and, far worse than that, he advocates going long and short the same instrument at the same time. That, in the eyes of some (many?) members, is enough to single him out as an idiot or a low life scammer. Or both. Suffice to say, it's a good job he's not a T2W member, otherwise he'd be crucified!
:cheesy:
Tim.

 

[BeginnerJoe]

Suffice to say, it's a good job he's not a T2W member, otherwise he'd be crucified!

It's not a bad idea to be crucified by the 99.9%, then you know you are onto a winner. I am not going to comment on that video. If people have what it takes for the value in it, they deserve it. Otherwise they don't and they can go continue to buy high and sell low while hoping miraculously it can produce a profit.

 

[Triggerfish]

I believe all stops are taken , large or smalls, or nano-scopic. Basically anything > 0.

As it is your believe hence it cannot be a "fact" is it?.....so the question is how would you find out so one can break out of ones own delusion?
This is where you need to "think"!

 

[BeginnerJoe]

As it is your believe hence it cannot be a "fact" is it?.....so the question is how would you find out so one can break out of ones own delusion?
This is where you need to "think"!

I don't need to think. I only see. Delusion is internal. Fact is external.

 

[Triggerfish]

I don't need to think. I only see. Delusion is internal. Fact is external.

Then you must agree that a person who walks around without thinking is that of a headless chicken!.....yet where does a "believe" comes from?.....self fabrication? isn't it?.....yet one still holds on to it?....why?
If one can see, as you have suggested, then it should have already answered your question.....so can you see or are you assuming you can really SEE!
Fact can be external but not understanding is as good as delusional.....isn't it?

 

[BeginnerJoe]

Then you must agree that a person who walks around without thinking is that of a headless chicken!.....yet where does a "believe" comes from?.....self fabrication? isn't it?.....yet one still holds on to it?....why?
If one can see, as you have suggested, then it should have already answered your question.....so can you see or are you assuming you can really SEE!
Fact can be external but not understanding is as good as delusional.....isn't it?

No delusion here. I don't think I asked a question. I was making a statement. Why are you so upset ? Worried your world has been turned upside down ?

I see what I see. Nobody can tell me otherwise, nor have I asked anyone for advise.

 

[Triggerfish]

No delusion here. I don't think I asked a question. I was making a statement. Why are you so upset ? Worried your world has been turned upside down ?

I see what I see. Nobody can tell me otherwise, nor have I asked anyone for advise.

So is your statement a "fact"?.....you must be at least "aware" that it is based on your own believe?.....am trying to show you a way out of your own created delusion!.....for free!
"upset"?.....there is no such a thing!
Do you know, the only reason "I see what I see" makes sense because it is based on delusion because the "I" does not exist!.....one is basically followings ones own delusion but can't see it themselves......This so called "I" is your own ego!.....it really needs to be removed.....it is the same as a headless chicken.

 

[BeginnerJoe]

So is your statement a "fact"?.....you must be at least "aware" that it is based on your own believe?.....am trying to show you a way out of your own created delusion!.....for free!
"upset"?.....there is no such a thing!
Do you know, the only reason "I see what I see" makes sense because it is based on delusion because the "I" does not exist!.....one is basically followings ones own delusion but can't see it themselves......This so called "I" is your own ego!.....it really needs to be removed.....it is the same as a headless chicken.

You are too generous. But, thank you. You have nothing I need.

 

[darktone]

What we believe is true! At least in our own little worlds!.......

Be careful what you believe!

 

[BeginnerJoe]

What we believe is true! At least in our little worlds!.......

Be careful what you believe!

I certainly believed it from your video showing your stops being taken down all day long. You know what they say: seeing is believing. Perhaps I should add that video here for educational purposes.

 

[neil]

I don't need to think. I only see. Delusion is internal. Fact is external.

It's when you mix them up you are fecked but don't perceive

 

[darktone]

I certainly believed it from your video showing your stops being taken down all day long. You know what they say: seeing is believing. Perhaps I should add that video here for educational purposes.

Well, they wernt stops, they were limits to exit when things went offside, which I believe is a good thing to do. The only reason there were so many was due to my early morning sloppyness (in bed trying to trade on my phone!! yeeeah!).
Anyways, as you say, seeing is believing.
post 52

 

[Shakone]

Hi BJ,
Well, to be fair to you, IMO this is one of the more interesting offerings about trading on YouTube that I've seen. However, it's not going to be to most people's taste, not least because he (the speaker, Joseph Nemeth) advocates averaging down and, far worse than that, he advocates going long and short the same instrument at the same time. That, in the eyes of some (many?) members, is enough to single him out as an idiot or a low life scammer. Or both. Suffice to say, it's a good job he's not a T2W member, otherwise he'd be crucified!
:cheesy:
Tim.

He also doesn't believe in the moon landings and has some very dodgy statistical claims by using heiken ashi to trick the audience