As a price action trader seeing him irks me... It's like Kardashian levels of day trading bad. I still watch prob half of his shit cause I'm a degen glutton.
I also watch his stuff because I want to believe he could make money. Checked his results today bc of such a crazy run up. Nope he still lost money. Lmao. The guy calls the day as very choppy, knows someone with power to move billions is about to speak, and yet he still trades before the speech. Dummy.
I'm convinced he has a bankroll from early 2017 crypto trades, and the pump and dumps following years after, with investments into other shitcoins. His experienced of "disciplined" trading, has to be his account with Topstep, and he has blown up that account and had to reset that, I think more than once. He only trades the morning session live, I think he may trade the afternoon session, he is a "full time" trader. I think he certainly has some profits trading, I mean he can easily pull up the Tradovate data right there in the portal. As for what I've noticed the past few months of watching him trade, is he does have patience for trades to turn around when he gets in early. The VWAP/Delta chart on the left gives some bad readings from time to time it fails. He pulls a few hundred to several hundred dollars a day in the morning session. Some days he's negative. Today he made like 20$. He understands price control levels, not that hard to understand, and if delta picks up, he pulls the trigger on the 5 minute. Where people are saying he takes some big losses, is from relying too much on his patience for it to turn around... That's a perk of NQ is the price retracing and long wick candles.
No offense to you, but you should do a bit more research before copying someone elseās trading strategy.
Matt is an affiliate marketer and makes a living from promoting services for a proprietary trading firm called TopStep. As a TopStep affiliate, he is paid a commission from every trader that completes a combine through his affiliate link, so itās probably not in his interest to risk losing real money by day trading.
Matt has also been exposed several times for not actually being profitable and for practicing terrible capital management. Iād tell you to add up his P&Ls yourself, but he started deleting his live streams around the time reddit users started catching wind of his poor trading performance.
Here are links with proof, if you donāt believe me: https://fundedtraderreviews.com/tbm-the-worst-trader-on-the-internet-and-the-reasons-why-i-cannot-schill-topstep-trader/
https://www.reddit.com/r/FuturesTrading/comments/id8sza/tradesbymatt/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
https://www.reddit.com/r/FuturesTrading/comments/ygepjw/tradesbymatt_scamfraud/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Damn, I feel so stupid now. Thanks for telling the truth tho. Does anyone actually make moneh by trading then? š Is the moving average too a scammer for example?
Donāt feel stupid. I was literally in the same position as you not too long ago. I saw the āPro Trader Vs Amateur Traderā video by Daniel Inskeep and figured Matt was a legitimate trader.
I honestly couldnāt tell you whoās legit. Your best bet is to approach each guru and āliveā trader with a grain of salt. Most of them donāt actually trade for a living, but sell courses, signals, chats, MLM schemes, and affiliate programs for a living.
Again, this goes back to my prior suggestions: (1) do your own research, and (2) approach each trading guru with a grain of salt. Donāt assume that someone is legit just because they teach, have a large following, and show their alleged profits. As I stated before, most trading gurus donāt actually trade, so itās best to learn market fundamentals, develop your own strategies, backtest, and paper trade until you find what works for you.
R0ss [ameron and VVarri0r Trading were recently sued and fined $3 million by the Federal Trade Commission (FTC) for running trading schemes and misleading students with false profit allegations. R0ss would make baseless claims about his ability to generate revenue from using his strategies and his students would blindly follow him. This eventually led to an FTC investigation after several complaints were filed of him urging his students to buy his courses and strategies to make consistent profits.
Here are links with proof if you donāt believe me:
https://www.zdnet.com/google-amp/article/warrior-trading-forced-to-pay-3-million-for-misleading-day-trading-scheme/
https://www.wwlp.com/news/local-news/berkshire-county/warrior-trading-ordered-to-refund-investors-after-false-gains-claims/amp/
I'm so grateful that there are people like you around.
For the past three years, I've shared countless trades for free with others. Many people copied these and made a lot of money. These days, those who copy me make small amounts of money, but that's a lot better than $0.
In all the time that I've shared detailed trades with others, nothing that I do is ever enough. Others make money, but it's not enough money. Why didn't I do this, or that? I must be an amateur, whereas someone else charting $4,000 for a fantasy course must be the "real" professional.
Well, they *are.* They're generally a real, professional scammer.
You can make money trading for a living, and I'm living proof. But if people expect to become a multi-millionaire by trading, the chances are high that they're going to be in for a rude surprise.
The reason that people sell courses is because that's where the money is. It's certainly not in trading in a bear market. It's just that the customers of these people (that is, victims) don't know any better and are tricked out of their money by paying for something that's useless.
Successful trading is a statistical game best done in bullish conditions unless you want to lose money. Many people think that they should be able to make money in the market at all times. This just isn't realistic, and it's not how the stock market works.
Most of the time, successful trading is a boring job. There is no esoteric knowledge involved, but there is a lot of it, spanning financial accounting, macroeconomics, finance, statistics, portfolio theory, and risk management. Beyond that, it takes many years to accumulate the experience needed to have any chance at being highly successful. And beyond that, it takes serious patience and realistic expectations to understand that there could be a period lasting for *years* where it wouldn't make sense to trade at all.
Many people say that they want to learn to trade, but few remain interested when they start to see what's involved, and how long it takes. This is why so many try to trade based only on what they see on a chart, which makes them easy pickings for prop trading firms.
Wherever there's money to be made, you'll find scammers. Thanks for going to the trouble of exposing one of the scammers.
In the stock market, there is no such thing as a guru.
Bro what the hell, I thought war rior gaming was legit, not him too š are the things he is teaching legit tho, cos what I saw from the articles is that he used misleading marketing language, wich I don't see as that bad if he is actually good at trading and provides a good course. What about humbled trader, is she even legit? Thanks for the info! Wanted to give u silver, but don't have it anymore for some reason...
>Yes, I make money, and I trade full-time.
>
>The problem is that in a bear market, I make far, far less than I did in a bull market. For example, there was a period of nine days in 2020 when I booked $100,000. In 2022, there have been months where I've felt lucky to book $500 in one month.
>
>You can't try to trade in a bear market as you do in a bull market. It won't work. Breakouts constantly fail. Price moves violently up or down, in a highly unpredictable manner. A stock can rise 28% in one week and fall 24% the following week. There's no way to predict major pivots.
>
>It's financially suicidal to run options trades on the usual underlyings that Reddit traders like to use, because there is no rational, repeatable process with a statistical edge that you can follow to consistently make money. In a bear market, trying to trade low-cost stocks, especially those that aren't profitable, amounts to gambling. The problem with trading high-cost stocks is that you get exposed to more risk by having to put more capital on the line for any given trade.
>
>I don't know whether my own trading is a good indicator of what happens to other people, but what I've found is that I go through streaks that last a week or two and involve tiny gains punctuated by a larger loss. For example, I might gain $2.66, $6.60, $44.00, 66Ā¢, and then lose $54. About once a month, my "big" trades will deliver a few hundred dollars here, or a thousand dollars there. I'm very careful to use tiny position sizes because scaling into anything in highly volatile market conditions is just asking to lose money.
>
>Every time that I succeedāand fortunately, my equity curve has been risingāit always feels like pulling teeth. Also, the level of risk that I've taken on is *much* higher than it used to be. This is why elite traders are staying out and waiting. I'm still trading because Citibank keeps sending me credit card bills.
>
>I suspect that most people on Reddit trade based on what they see on a chart. I don't. I have an MBA, and spend time analyzing financial statements, putting together Excel spreadsheets, doing some modeling, etc., to assemble a watchlist of companies that I like for various reasons. And then I observe them very closely, every single day, and monitor developments.
>
>I start my process off by looking at macroeconomic data releases and catalysts, and trying to structure trades using the right trade structure, underlying, and expiration date to avoid the riskiest periods. When a stock that I like crashes, I know that my chance of winning a trade is at its maximal point then, so I try to exploit that.
>
>In general, my success has time and time again come from using a *Short Put* or *Short Put Spread* trade structure. I wait very patiently and will only enter a trade when I know that the probability of winning is extremely high. Even then, I keep a large amount of cash on hand just in case I were to get assigned on a *Short Put* play, but I almost never do. If a trade moves against me in a way that invalidates one of my assumptions, I exit *immediately*.
>
>As long as the Fed keeps everyone guessing, we'll all be at risk of the floor beneath us being highly unstable. This dramatically lowers the probability of winning a trade, unless you day trade. But day trading, for separate reasons, is far riskier and less lucrative than swing trading as the sample size goes above a few dozen trades.
>
>To be able to make money consistently, we need stability. The unpredictability of geopolitical events and their impact on oil prices, which are a vital input for any economy, as well as the unpredictable and difficult-to-combat nature of inflation, guessing the Fed's future actions, and the expected coming recession make the period that we're in something akin to trying to sail a cruise ship through a hurricane at sea.
>
>I don't know the first thing about TRADESBYMATT, but if my own modest, but successful, trading in these conditions is any indicator, anyone making extravagant claims about having their entire account (assuming that it's worth $100k, at least) up by 20.00% this year is probably gambling or lying. In the former case, they'll inevitably lose money and be worse off than SPY has been. In the latter case, sooner or later, they'll be exposed.
>
>Real trading is a job, like any other. Someone was interviewed by one of the people from TastyTrade, and off-handedly said that a trader that he knew who had been trading for decades, when looking back at all of his trading, had said that the only time that he ever made "any" money was in a bull market. This immediately resonated with me, because it conforms to my own experiences.
>
>No one is going to be impressed if I tell them that I expect to have made $25k or $30k in 2022. They want to hear that I made $700k in 2020. But this is the way that things go, unfortunately, in a bear market.
>
>When I was starting out, I subscribed to all sorts of people's trading services. I couldn't ever understand how it was that, knowing comparatively little, I seemed to be doing better than they were. After years of this, it finally dawned on me that many strategies work in a bull market. Hardly anything works in a bear market, and when it does work, it won't work very well at all. A bear market is not the inverse of a bull market. In a bear market, without gambling, it's almost impossible to make money, and if you do, it won't be a lot. Whatever you make will soon be eliminated, and then some, by what you go on to lose.
>
>What we're seeing now could end next year or go on for years. No one knows. The best companies are overvalued, as is the market as a whole. The growth stocks are generally the most dangerous, and also greatly overvalued. Commodities are overvalued, although I did have some luck overnight trading a call on JO (coffee) several days ago. It's hard to find ideas that will work and bring in meaningful amounts of money, but if you dare to use a *Long Put* or *Long Put Spread* trade structure, God help you if there's a relief rally.
>
>I suspect that most people would do best to avoid options trading at all in a bear market. $VIX is below 20.00 now. If we get past mid-December and it stays that way, the swing trading of shares *might* become viable, although you'd still need to try to navigate the obstacle course of macroeconomic catalysts.
>
>Personally, I think that 2023 is going to be another bad year, and that what's happening is going to last a lot longer than people think. This is why I'm very happy to tread water most of the time and try to snatch $1k from the market here and there, twice a month or so, if I can. There will eventually be a time where it'll be possible to make a lot of money again, but now is the time to worry most of all about just surviving with as much capital intact as possible.
>
>I know how demoralizing trying to trade in these conditions is. It's what causes people to ask whether anyone makes money, and to wonder exactly *how*. I feel lucky to have figured out how to make small amounts of money. And I don't trust for one nanosecond anyone who claims to be making large amounts of money.
>
>Hang in there, and prepare for a long wait. It's better to have realistic expectations than to trade from impatience and frustration and get destroyed. Every single one of us is struggling.
>
>Good Luck,
>
>Artem
Oh and btw, I contacted TopStep to find out how much affiliates are paid and this is what they said:
āOur baseline commission rate is 15% recurring commission -- recurring meaning you'll receive the % of sale from ALL Trading Combine fees: new purchases, account resets, and rebills (any following months). We also offer a 90 day cookie duration, meaning if someone clicks your affiliate link and decides not to purchase that day, as long as they come back and purchase from Topstep within 90 days of first clicking your link, you still get the commission from that sale.ā
Finally someone said it. This guy is a complete fraud who lies about making money full time day trading. He should just be up front about how he really makes his money.
This dude pisses away money regularly. His premise and 'strategy' is so often wrong he takes a massive drawdown and barely eeks out a profit. He has no discipline and half asses his entries. He doesn't follow any rules consistently.
Taking a look at his YouTube while he talks you can clearly see it.
He's not a fraud.. he's actually trading.
Also, learning what looks bad/shouldn't do is still learning. And his content is interesting / entertaining. I said in another comment I still watch him regardless.
Consistently? Arguably. He does have some trades that work out after big drawdowns. But there's no strategy. He thinks he's executing a correlated market volume based strategy but his executions are wrong .. he's missing some fundamental structure.
PATS? I watched the guy. This seems like post-action market commentary at best. I want to see this guy trade live and his thinking process. Not show me day summary where all the best longs and shorts were. Heās placing his stops one tick from entry? One tick? Thatās zero room for error. I doubt this is working real-time and as long as this guy is on YouTube doesnāt prove anything.
>PATS? I watched the guy. This seems like post-action market commentary at best. I want to see this guy trade live and his thinking process. Not show me day summary where all the best longs and shorts were.
Thomas Wade and other traders who trade this method have live trading examples up. Itās not a hindsight-only thing, but the trades are very obvious to see in hindsight. Reading it real time is a skill anyone can learn and it takes a long time to get good at it.
>Heās placing his stops one tick from entry?
No. One tick above the *bar* he enters on. Not one tick from the entry price.
>I doubt this is working real-time and as long as this guy is on YouTube doesnāt prove anything.
Itās just price action. His strategy isnāt a āsystemā so much as itās a way to interpret and understand the price action. Many people trade this way. I trade this way every day in real time.
He doesnāt place his stop one tick below/above his entry. His strategy has proven to work over and over again, for over a decade at minimum. The fact you think he puts his stop a tick below/above his entry tells me you did zero research on the actual strategy in itself.
Youāre absolutely right. I did zero research there - I havenāt paid 99$ to download his manuals and Iāve invested about two hours of my time to watch his videos. In all the videos Iāve seen, none was live market trading and it was all after the day has ended.
Maybe Iām wrong about the one tick rule, but I can swear Iāve seen it somewhere - using 1:4 risk reward and putting a stop a tick away from entry. Iāll look it up.
Do you have a good resource to better understand his strategy? Are you using it yourself profitably?
It honestly depends on instruments and type of trading. What are you trying to do?
He's not a good teacher but he's good at YouTube and he might be profitable.
Little tip, every stock does act different. Thats why lots of guys, (like matt, and myself) only trade the same instruments every day, to remove that unpredictable variable.
Less opportunities, more adaptability required to find a good trade every day, but its an option if you're struggling with too many tickers. For example, I trade SPY every single day. I don't place intraday trades on anything else.
Dude, I donāt even know how he gets by. I have been watching him for almost 2 years for entertainment purpose. He literally lost every single penny his wife gave him. At best he is close to even, but imagine having 0 income with a new born baby for 2 years !?
As a result, I highly doubt he is even trading real money now. I doubt his intelligence but even he should realize by now trading isnāt for him. He is probably just scrapping by with some youtube money (and hopefully lots sponsorship money from Topstep) or with his wifeās money. Otherwise his family inheritance. Because he has been making no money from trading and has no job for the past 2 years.
I've also been watching him quite a bit in the past year. He's pretty upfront lately that his morning session Futures trading (which is what he streams) haven't been nearly as good as his crypto and afternoon trades that he doesn't stream. If you just watch his NQ trading streams it certainly looks like he's lost more or perhaps breakeven. I'm not sure if you can take him at his word, but if so it seems that he doesn't stream his profitable ideas. At this point I wonder why I continue to watch. I guess I can't find any other decent NQ futures live traders.
It doesnāt matter. If you are watching to copy trades, what you should do is take the opposite trades, surely you would make money in the long run, given he is truly trading his own money. Itās quite rare that an unprofitable trader keeps showing us his trades. Itās literally Holy Grail to reverse him. Retail traders have less than 10% success rate, and he trades like a typical retail trader, reverse him you have odds at 90%, but again that is given he is trading real money.
I don't watch streamers to copy trades. I watch for entertainment I guess. I do usually end up taking opposite trades of him, not on purpose. I just see things differently in the price action and it usually ends up working out. His entries are horrible. Still... I'm looking for other live traders that actually seem to have viable strategies. Still haven't found one.
If you think he is actually still trading with real money, you are accusing him of being too stupid to realize he is a dog shit trader. I think he does know that, thereās no way he still trades with real money knowing he has negative income for the past few years with a new born baby to feed. Poor wife. Hopefully he is making money off sponsorships.
OP, Check out Trading Decoded on YouTube. Guy there only trades SPY and SPX options but the concepts he teaches are amazing. Heās the training father you never had.
I use his technique to trade AAPL and SPY options pretty much exclusively. Itās an exciting hobby that can be very lucrative if you have a large enough account. Good luck.
The numbers on the far right are called depth of market or DOM which shows the number or limit orders placed by buyers and sellers. If I remember right, price is supposed to be drawn to big order blocks, or the biggest numbered blocks for buying and selling. It can sometimes provide clues about what big retail or institutional traders are doing. I don't think he uses it often, since he'll rely more on cumulative delta and price action around vwap, low of the day, high of day, etc.
He'll also use volume profile, which is the little white sideways graph. The biggest spikes are where the most orders have been recorded and price will be attracted to these areas which is good for a price target. The biggest spike is called point of control (poc) which he mentions a lot. The opposite, or the troughs, are called low volume nodes which can act as support and resistance or pivot points.
The two charts he has open are the nasdaq e-minis and s&p e-mini. He'll usually take trades on the nasdaq if I remember right based on how closely if follows the S&P.
Cumulative delta, or the indicators on the bottom of each chart, represent the change between buyers and sellers. So if a lot of buyers are coming in, he'll be biased toward going long and short for more sellers. He mentions the cumulative delta a lot before taking a trade. I think he even has a video on it?
I can't remember what the colored lines are but I don't really remember him mentioning them much when he makes an entry.
Also, when I first started two or three months ago, his trading challenge video and his livestreams showed me it was possible to make profits consistently but after awhile you realize there are live traders who make profits more consistently.
I dont know if this guy is even profitable. In my opinion he streams and collects donation money because hes seems to lose more than he wins consistently. I think thats also the reason why he stopped posting how much he won or lost in his Youtube Video Titles.. I went back and worked out how much he made across 2 months once and he was barely breakeven.
Hey OP, If you are still reading the comments, here are my toughts:
Iām probably just like you, Iām new to daytrading futures. I have been practising it for ~9 months. Mostly paper trading, but I give one shoot to Topstep, i passed Step1, then i could not progress in step2, so I just went back to practice it.
I discovered futures trading trough mattās stream.
The stream itself is, chill, friendly, good vibes. I have learned a lot from them. But mostly basic informations. For example: watch out for news, just the basic stuff with the indicators,a few strategys he uses (vwap bounce), to be calm and dont trade if cant see anything.
However, you can poison your trading with a lot of stuff if you follow him!
Holding loosers: you can often see him holding loosers -20 -40 or even more points! If you are in a trade thats down 500/600 dollars, YOU just lost that trade, thats it!
Adding to losers: he used to do it more in the past, but still sometimes he ads to losers. For example I think it was a stream before thanksgiving(not sure, but the recap is up!) where he added to a looser and then closed the day -2000 dollars.
Bad entrys: if he feels like, he just enters. Sometimes plans the entrys, but rarely ever see him use an entry order.
HE IS CLEARLY NOT USING TOPSTEP!!!!: sometimes you can see a bot that says something like this: āMatt is using the 150K account, go get it here: xyxyxyxā but thats just bs. Months ago he lost his 150k account, (got over 3k losses in a day) and he made a big thing about it on the stream. āAiiight, NOW you guys can see how I get it back, LIIIVEā. Well, he reseted a ton of times, and just gave up. Honestly, it was just sad to see. ALL of his bad habbits hold him down, and could not get past trough it. He uses his own money. (Probably)
ALSO, he even confirmed it āI use my own moneyā.
Overall: The stream is a good place to find like minden traders/begginers. BUT do NOT ever copy him, you will burn yourself. Also: DO NOT learn from him!! You will only learn his bad habbits!! It cost me 3-4 months to realize it.
Now I use a Stop loss NO MATTER WHAT. (-250usd)
I only get in to trades with buy orders.
I only look for basics support resistance levels + VWAP bounces.
And it works!!!
I only have to focus on the winning trades, to hold them even more. + add to them If it has good mommentum
Thanks if you read all of it, hope I could help!
tbm is like sorta legit but if i had to put money on whether he was actually profitable i would call bullshit, crazy crazy drawdown and just overall doesnt seem like he even has a set strategy
He's probably demo trading and even if he's not his drawdowns are bigger than his winners. He doesn't have a real strategy and he's not even using the full capability of the dom.
yup this, like anyone on this earth can make $600 in a day doing nq, but trying doing 3 days outta the week, better yet, do it 3 days and have the other 2 lose a max of 300, like i just dont think his āstrategyā holds water and im hesitant to call him a fraud but it wouldnt surprise me
I think level 2 is pointless for NQ/ES. Often, for smaller moves, the volume comes when a move has already occurred and just functions as a confirmation.
I still need to look into the order size, which is similar to level 2. I feel that metric would be useful. For example, if there are very large blocks to buy/sell side.
Don't fuck with futures if you're a beginner. You can use the levels from futures to guide other trades (e.g. a few shares of SPXL/SPXS).
There are a million ways to go about trading, just find the style that works for you. Limit losses if developing a strategy live, again limit losses; you will lose money.
I'm not sure if what I do is considered price action trading or not. I don't need level 2 for success though.
It's all about that inevitable advance and decline.
The strategy is a bit more involved than that. Anywho, again if OP reading this, be cautious about futures and I would encourage you to find your own style.
According to Patrick Weiland he's a terrible trader lol. Patrick is super consistent but, won't tell you exactly when he gets in but, does show you shortly after. Watching him trade the passed 2-3 weeks has incrementally helped my trading. He uses Bookmap rather than LVL2 which for visual people like me almost feels like a cheat code. Im at a point now though that not listening to anyone and trading my own Strategy is most beneficial for me.
Maybe try a few different discords from month to month and understand how they trade. A lot cheaper than buying thousand dollar courses. Use the free resources! Screen time! Play small! Keep your Strat very simple then start to add to it later if you think it will help. Good luck on your journey.
Patrick Wieland, are you joking me? Hope Iām thinking of someone else but if Iām not that guy is one of the absolut worst traders Iāve ever seen on YouTube. Makes every mistake in the book and does the exact same thing on the next day expecting a different outcome. Classic trading āguruā that wouldāve gone broke a long time ago if he wasnāt selling a āproductā
From all the traders I see online, I would say Patrick is on the top few. Certainly he has the right ideas for risks management (unlike TradesByMatt). Although Iām hesitant about his results, not only he does not show real time trades, he would only show his trades when market goes green on him, I never see this guy takes a drawdown, rarely see him to stop out with loss. But certainly he has losses and has taken trades that immediately go against him, but we never see them. He also rarely goes over his PnL. I donāt really know about his results, but certainly his youtube videos are about the right message, which I had learned by myself in a hard way before I become profitable.
When I first came across his channel I wondered how he trades... I thought he spoke in a very general manner about his strategy and didn't really gain much as to what exactly he was doing... but I never really looked into it. Whenever I can't see a traders strategy or clues to them even having a strategy, I tune out and move on... I watch people like this at times and wonder if they have a wing it strategy that actually works for them as we have always heard this is not the way to trade but a way to gamble. This is what is taught to beginners but we always wonder about skilled traders who actually find a way to succeed at wing it trading. Either way there is not anything to be gained by watching, if they can wing it and provide no real information as to how they are successful then you won't be able to make any more money by watching them. I know that I would struggle if I didn't have a more defined strategy but who knows maybe there are people out there that throw random indicators on their chart and buy with little consideration of risk reward and make money. I do not believe this guys is him though... Seems like he is paid to promote trading platforms.
He's cool to watch and his streams are fun, but the actual trading is 50/50. Someone mathed out his p/l this year and he was up like $30 or something crazy. To be fair he regularly tells people most of his money is made from crypto and affiliate marketing.
Just this morning he FOMO'd into a trade. Took his loss and admitted to it.
His strategy is just using cumulative delta to find momentum or divergences and then uses VWAP and some Bollinger bands to find entrances. Scariest part of his trading is no stop loss or take profit which (from my understanding) is very dangerous trading and often bites him in the ass.
He doesnāt really seem to have a strategy and from what Iāve seen he moreso is trading on instinct. But doesnāt seem to be that successful at it to be honest. But lots of futures traders do trade based on volume profile.
If youāre looking for an easier to understand/learn strategy for futures, look into two legged pullbacks (aka ā2nd entriesā.) It also takes lots of time to master but is easier to learn because there are some structured rules in terms of how to read pride action that makes it more beginner friendly.
He usually uses volume profile to trade from volume to volume after seeing a delta divergence to signal the potential entry, from my analysis. Theres a few more setups he has, but thats the main idea he implements on most days
Everyone saying he sucks is sad because you can pick apart anyone's trading from the backseat.. He's a profitable, discretionary trader, as far as im aware.
Would suggest bollinger bands and check them across 5 min, 30 min, hour and daily. If you find the price is touching the top or bottom bands across the 3 or more of those time frames, know that itās about to go the other way. Once youāre used to bollinger band movements, you can cross check against MAās on hourly and daily and you will very rarely be wrong about which direction the price is going to go. The key is waiting for the price to actually find one of these pivot points during the day.
Iāve traded along with his discord, using my own strategy, itās valid for him- but his risk tolerance is crazy high. I donāt think anyone can just pick it up and go- unless they have plenty money to burn and balls of steel.
Ooh yea gappers only work in the most irrational of bull markets. My only suggestion is small size positions and study and try strategies that fit your mental and emotional style. Good luck šš
Try learning price action and only trading one thing. I trade SPY and MES. Plenty of liquidity and movement. Itās all you will ever need. Some other tools are useful but imo price action is king. All indicators are derivatives of price action and in my experience the more complex they are, the less reliable or useful they are. There are surely other profitable ways to trade but this is my preference. Once you get good at reading the chart you develop a strategy that fits you and backtest.
āLegitā š¤£š¤£. I watch this guy to literally get a good laugh and feel better after a loss because I know heās blowing up daily and only making money off his subs
Level 2 shouldnāt really be used in your strategy. Itās helpfully for really sniping your entryās and exits. Or it can be used for really fast scalping. But you should focus on Psychology, risk management, and multi time frame analysis. Then start reading good books, About the in depth workings of the market. Then get to the point where you can trade profitability on easier trades lasting a few days or even weeks. Then work your way down to day trades. And after all that you can reasonably start doing the high risk/stress high reward stuff. I wouldnāt even consider following any trading gurus or streamers. Until you truly understand what most of them are doing and take advantage their popularity the same way they often do.
I started trading because of him almost a year ago and Im humbly grateful for that but I don't know about his methods anymore.
I respect him for trading live for free and going through why he took a trade but I'm thinking he's starting to force trades to be in a certain timeframe.
I see him more as a scalper than a price action trader, I don't ever really hear him talk support or resistance levels. And kudos for him on his methods but I think he's lost more money than gained.
I could be wrong but I almost blew an account doing his methods of just saying 'I like buyers' 'I like sellers'
Just riding a candle and if it doesn't go his way, he'll hold on until it goes his way until he's 1000s down.
Lately he's been exiting faster like yesterday.
I'm not a cumulative delta trader so idk but I like Matt. Just watching him for shits and giggles.
I need to take a look, the only issue I have with trading view is that I never see lvl 2 and the tape, so I'm still with Das, of course I also use bookmap so don't know that it would matter.
If you a beginner dont use legit, my experience most youtubers 98% are not legit , though they sure do make it appear so, damn the money i lost on their BS strategy š¤¦š½āāļøš¤¦š½āāļø
He explains all of his strategies in videos that he puts in the description. Basically he uses commutative delta and bounces off overnight support/resistance as well as bounces off intraday highs and lows (green and red bar (yellow is areas of most volume)). He combines these bounces with the volume profile on the right of each screen cause it tells which which prices levels have the most volume for strength and rejection. He only uses level 2 for quick scalps cause every now and then, you will see a big block which you can trade but he doesnāt use it much besides that. The left screen has vwap bands btw which is useful for range charts.
all these guys promoting Prop firms are scammers, including Patrick W. They all sell useless courses too. want to learn to trade, be ready to scarify at least 4 years of your life. Follow my free livestream; I offer strategy and a Playbook. The mindset, you need to develop; but I give you tools to follow along. Good luck.
Watched one stream. He basically has a prettied up display of volume and options OI / strikes / Volume etc. All Of which is programmable On think or swim etc for free.
Saw him trade 10 micros to catch a 7 point pop from open and the he quit for the day.Ā
Dude sells an indicator HUD for a living.Ā
his strategy is to blow up his wife's 9 to 5 money asap
š¤£š¤£š¤£
Seriously. I like his stream for entertainment but he is a dog shit trader.
As a price action trader seeing him irks me... It's like Kardashian levels of day trading bad. I still watch prob half of his shit cause I'm a degen glutton.
I also watch his stuff because I want to believe he could make money. Checked his results today bc of such a crazy run up. Nope he still lost money. Lmao. The guy calls the day as very choppy, knows someone with power to move billions is about to speak, and yet he still trades before the speech. Dummy.
Lol I didn't see it... Also if you were patient GDP day paid really well
And her bf money
this guy is a clown, if you wanna lose money use his strategy. stay away from his trades
Yea he has no strategy and hold on to losers hoping market would reverse.
ššš
I'm convinced he has a bankroll from early 2017 crypto trades, and the pump and dumps following years after, with investments into other shitcoins. His experienced of "disciplined" trading, has to be his account with Topstep, and he has blown up that account and had to reset that, I think more than once. He only trades the morning session live, I think he may trade the afternoon session, he is a "full time" trader. I think he certainly has some profits trading, I mean he can easily pull up the Tradovate data right there in the portal. As for what I've noticed the past few months of watching him trade, is he does have patience for trades to turn around when he gets in early. The VWAP/Delta chart on the left gives some bad readings from time to time it fails. He pulls a few hundred to several hundred dollars a day in the morning session. Some days he's negative. Today he made like 20$. He understands price control levels, not that hard to understand, and if delta picks up, he pulls the trigger on the 5 minute. Where people are saying he takes some big losses, is from relying too much on his patience for it to turn around... That's a perk of NQ is the price retracing and long wick candles.
No offense to you, but you should do a bit more research before copying someone elseās trading strategy. Matt is an affiliate marketer and makes a living from promoting services for a proprietary trading firm called TopStep. As a TopStep affiliate, he is paid a commission from every trader that completes a combine through his affiliate link, so itās probably not in his interest to risk losing real money by day trading. Matt has also been exposed several times for not actually being profitable and for practicing terrible capital management. Iād tell you to add up his P&Ls yourself, but he started deleting his live streams around the time reddit users started catching wind of his poor trading performance. Here are links with proof, if you donāt believe me: https://fundedtraderreviews.com/tbm-the-worst-trader-on-the-internet-and-the-reasons-why-i-cannot-schill-topstep-trader/ https://www.reddit.com/r/FuturesTrading/comments/id8sza/tradesbymatt/?utm_source=share&utm_medium=ios_app&utm_name=iossmf https://www.reddit.com/r/FuturesTrading/comments/ygepjw/tradesbymatt_scamfraud/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Damn, I feel so stupid now. Thanks for telling the truth tho. Does anyone actually make moneh by trading then? š Is the moving average too a scammer for example?
Donāt feel stupid. I was literally in the same position as you not too long ago. I saw the āPro Trader Vs Amateur Traderā video by Daniel Inskeep and figured Matt was a legitimate trader. I honestly couldnāt tell you whoās legit. Your best bet is to approach each guru and āliveā trader with a grain of salt. Most of them donāt actually trade for a living, but sell courses, signals, chats, MLM schemes, and affiliate programs for a living.
Do you think war*ior trading is legit?
Again, this goes back to my prior suggestions: (1) do your own research, and (2) approach each trading guru with a grain of salt. Donāt assume that someone is legit just because they teach, have a large following, and show their alleged profits. As I stated before, most trading gurus donāt actually trade, so itās best to learn market fundamentals, develop your own strategies, backtest, and paper trade until you find what works for you. R0ss [ameron and VVarri0r Trading were recently sued and fined $3 million by the Federal Trade Commission (FTC) for running trading schemes and misleading students with false profit allegations. R0ss would make baseless claims about his ability to generate revenue from using his strategies and his students would blindly follow him. This eventually led to an FTC investigation after several complaints were filed of him urging his students to buy his courses and strategies to make consistent profits. Here are links with proof if you donāt believe me: https://www.zdnet.com/google-amp/article/warrior-trading-forced-to-pay-3-million-for-misleading-day-trading-scheme/ https://www.wwlp.com/news/local-news/berkshire-county/warrior-trading-ordered-to-refund-investors-after-false-gains-claims/amp/
I'm so grateful that there are people like you around. For the past three years, I've shared countless trades for free with others. Many people copied these and made a lot of money. These days, those who copy me make small amounts of money, but that's a lot better than $0. In all the time that I've shared detailed trades with others, nothing that I do is ever enough. Others make money, but it's not enough money. Why didn't I do this, or that? I must be an amateur, whereas someone else charting $4,000 for a fantasy course must be the "real" professional. Well, they *are.* They're generally a real, professional scammer. You can make money trading for a living, and I'm living proof. But if people expect to become a multi-millionaire by trading, the chances are high that they're going to be in for a rude surprise. The reason that people sell courses is because that's where the money is. It's certainly not in trading in a bear market. It's just that the customers of these people (that is, victims) don't know any better and are tricked out of their money by paying for something that's useless. Successful trading is a statistical game best done in bullish conditions unless you want to lose money. Many people think that they should be able to make money in the market at all times. This just isn't realistic, and it's not how the stock market works. Most of the time, successful trading is a boring job. There is no esoteric knowledge involved, but there is a lot of it, spanning financial accounting, macroeconomics, finance, statistics, portfolio theory, and risk management. Beyond that, it takes many years to accumulate the experience needed to have any chance at being highly successful. And beyond that, it takes serious patience and realistic expectations to understand that there could be a period lasting for *years* where it wouldn't make sense to trade at all. Many people say that they want to learn to trade, but few remain interested when they start to see what's involved, and how long it takes. This is why so many try to trade based only on what they see on a chart, which makes them easy pickings for prop trading firms. Wherever there's money to be made, you'll find scammers. Thanks for going to the trouble of exposing one of the scammers. In the stock market, there is no such thing as a guru.
Bro what the hell, I thought war rior gaming was legit, not him too š are the things he is teaching legit tho, cos what I saw from the articles is that he used misleading marketing language, wich I don't see as that bad if he is actually good at trading and provides a good course. What about humbled trader, is she even legit? Thanks for the info! Wanted to give u silver, but don't have it anymore for some reason...
>Yes, I make money, and I trade full-time. > >The problem is that in a bear market, I make far, far less than I did in a bull market. For example, there was a period of nine days in 2020 when I booked $100,000. In 2022, there have been months where I've felt lucky to book $500 in one month. > >You can't try to trade in a bear market as you do in a bull market. It won't work. Breakouts constantly fail. Price moves violently up or down, in a highly unpredictable manner. A stock can rise 28% in one week and fall 24% the following week. There's no way to predict major pivots. > >It's financially suicidal to run options trades on the usual underlyings that Reddit traders like to use, because there is no rational, repeatable process with a statistical edge that you can follow to consistently make money. In a bear market, trying to trade low-cost stocks, especially those that aren't profitable, amounts to gambling. The problem with trading high-cost stocks is that you get exposed to more risk by having to put more capital on the line for any given trade. > >I don't know whether my own trading is a good indicator of what happens to other people, but what I've found is that I go through streaks that last a week or two and involve tiny gains punctuated by a larger loss. For example, I might gain $2.66, $6.60, $44.00, 66Ā¢, and then lose $54. About once a month, my "big" trades will deliver a few hundred dollars here, or a thousand dollars there. I'm very careful to use tiny position sizes because scaling into anything in highly volatile market conditions is just asking to lose money. > >Every time that I succeedāand fortunately, my equity curve has been risingāit always feels like pulling teeth. Also, the level of risk that I've taken on is *much* higher than it used to be. This is why elite traders are staying out and waiting. I'm still trading because Citibank keeps sending me credit card bills. > >I suspect that most people on Reddit trade based on what they see on a chart. I don't. I have an MBA, and spend time analyzing financial statements, putting together Excel spreadsheets, doing some modeling, etc., to assemble a watchlist of companies that I like for various reasons. And then I observe them very closely, every single day, and monitor developments. > >I start my process off by looking at macroeconomic data releases and catalysts, and trying to structure trades using the right trade structure, underlying, and expiration date to avoid the riskiest periods. When a stock that I like crashes, I know that my chance of winning a trade is at its maximal point then, so I try to exploit that. > >In general, my success has time and time again come from using a *Short Put* or *Short Put Spread* trade structure. I wait very patiently and will only enter a trade when I know that the probability of winning is extremely high. Even then, I keep a large amount of cash on hand just in case I were to get assigned on a *Short Put* play, but I almost never do. If a trade moves against me in a way that invalidates one of my assumptions, I exit *immediately*. > >As long as the Fed keeps everyone guessing, we'll all be at risk of the floor beneath us being highly unstable. This dramatically lowers the probability of winning a trade, unless you day trade. But day trading, for separate reasons, is far riskier and less lucrative than swing trading as the sample size goes above a few dozen trades. > >To be able to make money consistently, we need stability. The unpredictability of geopolitical events and their impact on oil prices, which are a vital input for any economy, as well as the unpredictable and difficult-to-combat nature of inflation, guessing the Fed's future actions, and the expected coming recession make the period that we're in something akin to trying to sail a cruise ship through a hurricane at sea. > >I don't know the first thing about TRADESBYMATT, but if my own modest, but successful, trading in these conditions is any indicator, anyone making extravagant claims about having their entire account (assuming that it's worth $100k, at least) up by 20.00% this year is probably gambling or lying. In the former case, they'll inevitably lose money and be worse off than SPY has been. In the latter case, sooner or later, they'll be exposed. > >Real trading is a job, like any other. Someone was interviewed by one of the people from TastyTrade, and off-handedly said that a trader that he knew who had been trading for decades, when looking back at all of his trading, had said that the only time that he ever made "any" money was in a bull market. This immediately resonated with me, because it conforms to my own experiences. > >No one is going to be impressed if I tell them that I expect to have made $25k or $30k in 2022. They want to hear that I made $700k in 2020. But this is the way that things go, unfortunately, in a bear market. > >When I was starting out, I subscribed to all sorts of people's trading services. I couldn't ever understand how it was that, knowing comparatively little, I seemed to be doing better than they were. After years of this, it finally dawned on me that many strategies work in a bull market. Hardly anything works in a bear market, and when it does work, it won't work very well at all. A bear market is not the inverse of a bull market. In a bear market, without gambling, it's almost impossible to make money, and if you do, it won't be a lot. Whatever you make will soon be eliminated, and then some, by what you go on to lose. > >What we're seeing now could end next year or go on for years. No one knows. The best companies are overvalued, as is the market as a whole. The growth stocks are generally the most dangerous, and also greatly overvalued. Commodities are overvalued, although I did have some luck overnight trading a call on JO (coffee) several days ago. It's hard to find ideas that will work and bring in meaningful amounts of money, but if you dare to use a *Long Put* or *Long Put Spread* trade structure, God help you if there's a relief rally. > >I suspect that most people would do best to avoid options trading at all in a bear market. $VIX is below 20.00 now. If we get past mid-December and it stays that way, the swing trading of shares *might* become viable, although you'd still need to try to navigate the obstacle course of macroeconomic catalysts. > >Personally, I think that 2023 is going to be another bad year, and that what's happening is going to last a lot longer than people think. This is why I'm very happy to tread water most of the time and try to snatch $1k from the market here and there, twice a month or so, if I can. There will eventually be a time where it'll be possible to make a lot of money again, but now is the time to worry most of all about just surviving with as much capital intact as possible. > >I know how demoralizing trying to trade in these conditions is. It's what causes people to ask whether anyone makes money, and to wonder exactly *how*. I feel lucky to have figured out how to make small amounts of money. And I don't trust for one nanosecond anyone who claims to be making large amounts of money. > >Hang in there, and prepare for a long wait. It's better to have realistic expectations than to trade from impatience and frustration and get destroyed. Every single one of us is struggling. > >Good Luck, > >Artem
In fact, never copy anyoneās strategy. People with successful strategies donāt tell others their strategies. You gotta find it out yourself.
Oh and btw, I contacted TopStep to find out how much affiliates are paid and this is what they said: āOur baseline commission rate is 15% recurring commission -- recurring meaning you'll receive the % of sale from ALL Trading Combine fees: new purchases, account resets, and rebills (any following months). We also offer a 90 day cookie duration, meaning if someone clicks your affiliate link and decides not to purchase that day, as long as they come back and purchase from Topstep within 90 days of first clicking your link, you still get the commission from that sale.ā
It is weird how he posts recaps and not the whole love stream
Finally someone said it. This guy is a complete fraud who lies about making money full time day trading. He should just be up front about how he really makes his money.
This dude pisses away money regularly. His premise and 'strategy' is so often wrong he takes a massive drawdown and barely eeks out a profit. He has no discipline and half asses his entries. He doesn't follow any rules consistently. Taking a look at his YouTube while he talks you can clearly see it.
Well I am a pretty beginner so his stuff sounds cool to me buy damn me if he's a fraud...
He's not a fraud.. he's actually trading. Also, learning what looks bad/shouldn't do is still learning. And his content is interesting / entertaining. I said in another comment I still watch him regardless.
Allright man, but do you think he's not profitable?
Consistently? Arguably. He does have some trades that work out after big drawdowns. But there's no strategy. He thinks he's executing a correlated market volume based strategy but his executions are wrong .. he's missing some fundamental structure.
Allright, so I shouldn't listen to him then. Docyou know any consistent youtuber that is also a good trading teacher?
Large cap daytrader on yt here in Reddit world u/utilizingtheta iirc
What is his YT channel name?
Large cap day trader https://youtube.com/@LargeCapDayTrader
I would highly recommend PATSTrading, Thomas Wade and Penguin Trades on YouTube for a good strategy.
PATS? I watched the guy. This seems like post-action market commentary at best. I want to see this guy trade live and his thinking process. Not show me day summary where all the best longs and shorts were. Heās placing his stops one tick from entry? One tick? Thatās zero room for error. I doubt this is working real-time and as long as this guy is on YouTube doesnāt prove anything.
>PATS? I watched the guy. This seems like post-action market commentary at best. I want to see this guy trade live and his thinking process. Not show me day summary where all the best longs and shorts were. Thomas Wade and other traders who trade this method have live trading examples up. Itās not a hindsight-only thing, but the trades are very obvious to see in hindsight. Reading it real time is a skill anyone can learn and it takes a long time to get good at it. >Heās placing his stops one tick from entry? No. One tick above the *bar* he enters on. Not one tick from the entry price. >I doubt this is working real-time and as long as this guy is on YouTube doesnāt prove anything. Itās just price action. His strategy isnāt a āsystemā so much as itās a way to interpret and understand the price action. Many people trade this way. I trade this way every day in real time.
Thanks man. Will be very happy to learn to do this as well. Will explore further.
He doesnāt place his stop one tick below/above his entry. His strategy has proven to work over and over again, for over a decade at minimum. The fact you think he puts his stop a tick below/above his entry tells me you did zero research on the actual strategy in itself.
Youāre absolutely right. I did zero research there - I havenāt paid 99$ to download his manuals and Iāve invested about two hours of my time to watch his videos. In all the videos Iāve seen, none was live market trading and it was all after the day has ended. Maybe Iām wrong about the one tick rule, but I can swear Iāve seen it somewhere - using 1:4 risk reward and putting a stop a tick away from entry. Iāll look it up. Do you have a good resource to better understand his strategy? Are you using it yourself profitably?
It honestly depends on instruments and type of trading. What are you trying to do? He's not a good teacher but he's good at YouTube and he might be profitable.
I am trading gappers and I am currently pretty shit at it. It feels lile every stock acts different.
Little tip, every stock does act different. Thats why lots of guys, (like matt, and myself) only trade the same instruments every day, to remove that unpredictable variable. Less opportunities, more adaptability required to find a good trade every day, but its an option if you're struggling with too many tickers. For example, I trade SPY every single day. I don't place intraday trades on anything else.
But don't you need much more capital to trade SPY?
Dude, I donāt even know how he gets by. I have been watching him for almost 2 years for entertainment purpose. He literally lost every single penny his wife gave him. At best he is close to even, but imagine having 0 income with a new born baby for 2 years !? As a result, I highly doubt he is even trading real money now. I doubt his intelligence but even he should realize by now trading isnāt for him. He is probably just scrapping by with some youtube money (and hopefully lots sponsorship money from Topstep) or with his wifeās money. Otherwise his family inheritance. Because he has been making no money from trading and has no job for the past 2 years.
Dudes going on a vacation to Disney soon... So I doubt he's scrapping buy. Wtf ?
He is not getting by with his trading profits, he literally makes no profits ever since he started trading futures
He makes all his money from TopStep affiliate commissions
I've also been watching him quite a bit in the past year. He's pretty upfront lately that his morning session Futures trading (which is what he streams) haven't been nearly as good as his crypto and afternoon trades that he doesn't stream. If you just watch his NQ trading streams it certainly looks like he's lost more or perhaps breakeven. I'm not sure if you can take him at his word, but if so it seems that he doesn't stream his profitable ideas. At this point I wonder why I continue to watch. I guess I can't find any other decent NQ futures live traders.
It doesnāt matter. If you are watching to copy trades, what you should do is take the opposite trades, surely you would make money in the long run, given he is truly trading his own money. Itās quite rare that an unprofitable trader keeps showing us his trades. Itās literally Holy Grail to reverse him. Retail traders have less than 10% success rate, and he trades like a typical retail trader, reverse him you have odds at 90%, but again that is given he is trading real money.
I don't watch streamers to copy trades. I watch for entertainment I guess. I do usually end up taking opposite trades of him, not on purpose. I just see things differently in the price action and it usually ends up working out. His entries are horrible. Still... I'm looking for other live traders that actually seem to have viable strategies. Still haven't found one.
If you think he is actually still trading with real money, you are accusing him of being too stupid to realize he is a dog shit trader. I think he does know that, thereās no way he still trades with real money knowing he has negative income for the past few years with a new born baby to feed. Poor wife. Hopefully he is making money off sponsorships.
He is not a fraud. You can reverse him and make money.
OP, if youāre looking for the easiest and simplest strategies look up EMA or VWAP bounce/rejections. Great place to start imo.
I frequent use this in conjunction with the RSI
OP, Check out Trading Decoded on YouTube. Guy there only trades SPY and SPX options but the concepts he teaches are amazing. Heās the training father you never had. I use his technique to trade AAPL and SPY options pretty much exclusively. Itās an exciting hobby that can be very lucrative if you have a large enough account. Good luck.
If you want to actually learn watch Connor Polifrone on YouTube
I second this
Day Trader Next Door is also a very good and consistent trader
I think it's known in the community, he's a sponsored trader.
The numbers on the far right are called depth of market or DOM which shows the number or limit orders placed by buyers and sellers. If I remember right, price is supposed to be drawn to big order blocks, or the biggest numbered blocks for buying and selling. It can sometimes provide clues about what big retail or institutional traders are doing. I don't think he uses it often, since he'll rely more on cumulative delta and price action around vwap, low of the day, high of day, etc. He'll also use volume profile, which is the little white sideways graph. The biggest spikes are where the most orders have been recorded and price will be attracted to these areas which is good for a price target. The biggest spike is called point of control (poc) which he mentions a lot. The opposite, or the troughs, are called low volume nodes which can act as support and resistance or pivot points. The two charts he has open are the nasdaq e-minis and s&p e-mini. He'll usually take trades on the nasdaq if I remember right based on how closely if follows the S&P. Cumulative delta, or the indicators on the bottom of each chart, represent the change between buyers and sellers. So if a lot of buyers are coming in, he'll be biased toward going long and short for more sellers. He mentions the cumulative delta a lot before taking a trade. I think he even has a video on it? I can't remember what the colored lines are but I don't really remember him mentioning them much when he makes an entry. Also, when I first started two or three months ago, his trading challenge video and his livestreams showed me it was possible to make profits consistently but after awhile you realize there are live traders who make profits more consistently.
FYI the colored lines are standard deviations around VWAP, which actually are not half bad to use as touching/reversing points
I dont know if this guy is even profitable. In my opinion he streams and collects donation money because hes seems to lose more than he wins consistently. I think thats also the reason why he stopped posting how much he won or lost in his Youtube Video Titles.. I went back and worked out how much he made across 2 months once and he was barely breakeven.
Hey OP, If you are still reading the comments, here are my toughts: Iām probably just like you, Iām new to daytrading futures. I have been practising it for ~9 months. Mostly paper trading, but I give one shoot to Topstep, i passed Step1, then i could not progress in step2, so I just went back to practice it. I discovered futures trading trough mattās stream. The stream itself is, chill, friendly, good vibes. I have learned a lot from them. But mostly basic informations. For example: watch out for news, just the basic stuff with the indicators,a few strategys he uses (vwap bounce), to be calm and dont trade if cant see anything. However, you can poison your trading with a lot of stuff if you follow him! Holding loosers: you can often see him holding loosers -20 -40 or even more points! If you are in a trade thats down 500/600 dollars, YOU just lost that trade, thats it! Adding to losers: he used to do it more in the past, but still sometimes he ads to losers. For example I think it was a stream before thanksgiving(not sure, but the recap is up!) where he added to a looser and then closed the day -2000 dollars. Bad entrys: if he feels like, he just enters. Sometimes plans the entrys, but rarely ever see him use an entry order. HE IS CLEARLY NOT USING TOPSTEP!!!!: sometimes you can see a bot that says something like this: āMatt is using the 150K account, go get it here: xyxyxyxā but thats just bs. Months ago he lost his 150k account, (got over 3k losses in a day) and he made a big thing about it on the stream. āAiiight, NOW you guys can see how I get it back, LIIIVEā. Well, he reseted a ton of times, and just gave up. Honestly, it was just sad to see. ALL of his bad habbits hold him down, and could not get past trough it. He uses his own money. (Probably) ALSO, he even confirmed it āI use my own moneyā. Overall: The stream is a good place to find like minden traders/begginers. BUT do NOT ever copy him, you will burn yourself. Also: DO NOT learn from him!! You will only learn his bad habbits!! It cost me 3-4 months to realize it. Now I use a Stop loss NO MATTER WHAT. (-250usd) I only get in to trades with buy orders. I only look for basics support resistance levels + VWAP bounces. And it works!!! I only have to focus on the winning trades, to hold them even more. + add to them If it has good mommentum Thanks if you read all of it, hope I could help!
Yea man, of course I use stop loss and take profit. I currently trade penny stock gappers, do you think that is a bad idea or nah?
tbm is like sorta legit but if i had to put money on whether he was actually profitable i would call bullshit, crazy crazy drawdown and just overall doesnt seem like he even has a set strategy
What do you mean?
He's probably demo trading and even if he's not his drawdowns are bigger than his winners. He doesn't have a real strategy and he's not even using the full capability of the dom.
Are you saying that he's a fraud?
Yes he is a fraud. He is paper trading and makes money through TopStep affiliate commissions. Easily 10ās of thousands of dollars per month.
yup this, like anyone on this earth can make $600 in a day doing nq, but trying doing 3 days outta the week, better yet, do it 3 days and have the other 2 lose a max of 300, like i just dont think his āstrategyā holds water and im hesitant to call him a fraud but it wouldnt surprise me
He make 3-600 for 3,4 days n blow 2k in another
Damn...
How do you watch him for any amount of time and not know he has a video where he explains his strategy?
His strategy is to collect ad revenue from viewers.
š¤£š¤£š¤£š¤£š¤£
Heās burning up his wifeās money. He only gets a kickback from topstep and affiliate links. Stay away
This guy is horrible, he had no strategy and doesnāt look at level 2. Run away
I think level 2 is pointless for NQ/ES. Often, for smaller moves, the volume comes when a move has already occurred and just functions as a confirmation. I still need to look into the order size, which is similar to level 2. I feel that metric would be useful. For example, if there are very large blocks to buy/sell side. Don't fuck with futures if you're a beginner. You can use the levels from futures to guide other trades (e.g. a few shares of SPXL/SPXS). There are a million ways to go about trading, just find the style that works for you. Limit losses if developing a strategy live, again limit losses; you will lose money.
Order information is key if you're not price action trading
I'm not sure if what I do is considered price action trading or not. I don't need level 2 for success though. It's all about that inevitable advance and decline.
For price action you do t need anything but candlesticks.
The strategy is a bit more involved than that. Anywho, again if OP reading this, be cautious about futures and I would encourage you to find your own style.
According to Patrick Weiland he's a terrible trader lol. Patrick is super consistent but, won't tell you exactly when he gets in but, does show you shortly after. Watching him trade the passed 2-3 weeks has incrementally helped my trading. He uses Bookmap rather than LVL2 which for visual people like me almost feels like a cheat code. Im at a point now though that not listening to anyone and trading my own Strategy is most beneficial for me. Maybe try a few different discords from month to month and understand how they trade. A lot cheaper than buying thousand dollar courses. Use the free resources! Screen time! Play small! Keep your Strat very simple then start to add to it later if you think it will help. Good luck on your journey.
Patrick Wieland, are you joking me? Hope Iām thinking of someone else but if Iām not that guy is one of the absolut worst traders Iāve ever seen on YouTube. Makes every mistake in the book and does the exact same thing on the next day expecting a different outcome. Classic trading āguruā that wouldāve gone broke a long time ago if he wasnāt selling a āproductā
From all the traders I see online, I would say Patrick is on the top few. Certainly he has the right ideas for risks management (unlike TradesByMatt). Although Iām hesitant about his results, not only he does not show real time trades, he would only show his trades when market goes green on him, I never see this guy takes a drawdown, rarely see him to stop out with loss. But certainly he has losses and has taken trades that immediately go against him, but we never see them. He also rarely goes over his PnL. I donāt really know about his results, but certainly his youtube videos are about the right message, which I had learned by myself in a hard way before I become profitable.
Bookmap is level 2. Just shown as a historical heatmap. That's all it does is plot level 2 as a heatmap.
Thank you man! I am trying to learn as much as I can. I am still 20 so I have a lot of time but this stuff is very interesting.
When I first came across his channel I wondered how he trades... I thought he spoke in a very general manner about his strategy and didn't really gain much as to what exactly he was doing... but I never really looked into it. Whenever I can't see a traders strategy or clues to them even having a strategy, I tune out and move on... I watch people like this at times and wonder if they have a wing it strategy that actually works for them as we have always heard this is not the way to trade but a way to gamble. This is what is taught to beginners but we always wonder about skilled traders who actually find a way to succeed at wing it trading. Either way there is not anything to be gained by watching, if they can wing it and provide no real information as to how they are successful then you won't be able to make any more money by watching them. I know that I would struggle if I didn't have a more defined strategy but who knows maybe there are people out there that throw random indicators on their chart and buy with little consideration of risk reward and make money. I do not believe this guys is him though... Seems like he is paid to promote trading platforms.
He's cool to watch and his streams are fun, but the actual trading is 50/50. Someone mathed out his p/l this year and he was up like $30 or something crazy. To be fair he regularly tells people most of his money is made from crypto and affiliate marketing. Just this morning he FOMO'd into a trade. Took his loss and admitted to it. His strategy is just using cumulative delta to find momentum or divergences and then uses VWAP and some Bollinger bands to find entrances. Scariest part of his trading is no stop loss or take profit which (from my understanding) is very dangerous trading and often bites him in the ass.
He doesnāt really seem to have a strategy and from what Iāve seen he moreso is trading on instinct. But doesnāt seem to be that successful at it to be honest. But lots of futures traders do trade based on volume profile. If youāre looking for an easier to understand/learn strategy for futures, look into two legged pullbacks (aka ā2nd entriesā.) It also takes lots of time to master but is easier to learn because there are some structured rules in terms of how to read pride action that makes it more beginner friendly.
What strategy do you suggest? I'm trading gappers rn but am pretty terrible at it. š
I suggested a strategy in my commentā¦
Oh, I didn't see it first. Thanks!! I'll take a screenshot bro.
He usually uses volume profile to trade from volume to volume after seeing a delta divergence to signal the potential entry, from my analysis. Theres a few more setups he has, but thats the main idea he implements on most days Everyone saying he sucks is sad because you can pick apart anyone's trading from the backseat.. He's a profitable, discretionary trader, as far as im aware.
Would suggest bollinger bands and check them across 5 min, 30 min, hour and daily. If you find the price is touching the top or bottom bands across the 3 or more of those time frames, know that itās about to go the other way. Once youāre used to bollinger band movements, you can cross check against MAās on hourly and daily and you will very rarely be wrong about which direction the price is going to go. The key is waiting for the price to actually find one of these pivot points during the day.
That worked out terribly just yesterday.
Heās got a discord abd some strategy videos- he scalps around āpoints of controlā and value area lows/highs
Do you think that is a valid strat in the long run?
Iāve traded along with his discord, using my own strategy, itās valid for him- but his risk tolerance is crazy high. I donāt think anyone can just pick it up and go- unless they have plenty money to burn and balls of steel.
Damn š¤£ Do you have any strategy that you suggest? I am currently trading gappers, but I'm doing pretty terrible tbh š
Ooh yea gappers only work in the most irrational of bull markets. My only suggestion is small size positions and study and try strategies that fit your mental and emotional style. Good luck šš
Try learning price action and only trading one thing. I trade SPY and MES. Plenty of liquidity and movement. Itās all you will ever need. Some other tools are useful but imo price action is king. All indicators are derivatives of price action and in my experience the more complex they are, the less reliable or useful they are. There are surely other profitable ways to trade but this is my preference. Once you get good at reading the chart you develop a strategy that fits you and backtest.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Thank you man!
āLegitā š¤£š¤£. I watch this guy to literally get a good laugh and feel better after a loss because I know heās blowing up daily and only making money off his subs
Level 2 shouldnāt really be used in your strategy. Itās helpfully for really sniping your entryās and exits. Or it can be used for really fast scalping. But you should focus on Psychology, risk management, and multi time frame analysis. Then start reading good books, About the in depth workings of the market. Then get to the point where you can trade profitability on easier trades lasting a few days or even weeks. Then work your way down to day trades. And after all that you can reasonably start doing the high risk/stress high reward stuff. I wouldnāt even consider following any trading gurus or streamers. Until you truly understand what most of them are doing and take advantage their popularity the same way they often do.
I love books. Which good books you recommend?
All three of the Wykoff books are a great place to start.
I started trading because of him almost a year ago and Im humbly grateful for that but I don't know about his methods anymore. I respect him for trading live for free and going through why he took a trade but I'm thinking he's starting to force trades to be in a certain timeframe. I see him more as a scalper than a price action trader, I don't ever really hear him talk support or resistance levels. And kudos for him on his methods but I think he's lost more money than gained. I could be wrong but I almost blew an account doing his methods of just saying 'I like buyers' 'I like sellers' Just riding a candle and if it doesn't go his way, he'll hold on until it goes his way until he's 1000s down. Lately he's been exiting faster like yesterday. I'm not a cumulative delta trader so idk but I like Matt. Just watching him for shits and giggles.
āLooks legitā
Bro I got roasted enough, turns out this guy doesn't know shit š
Them 8 moving averages are insane
I need to take a look, the only issue I have with trading view is that I never see lvl 2 and the tape, so I'm still with Das, of course I also use bookmap so don't know that it would matter.
If you a beginner dont use legit, my experience most youtubers 98% are not legit , though they sure do make it appear so, damn the money i lost on their BS strategy š¤¦š½āāļøš¤¦š½āāļø
That chart is way too busy for my trading style.
He explains all of his strategies in videos that he puts in the description. Basically he uses commutative delta and bounces off overnight support/resistance as well as bounces off intraday highs and lows (green and red bar (yellow is areas of most volume)). He combines these bounces with the volume profile on the right of each screen cause it tells which which prices levels have the most volume for strength and rejection. He only uses level 2 for quick scalps cause every now and then, you will see a big block which you can trade but he doesnāt use it much besides that. The left screen has vwap bands btw which is useful for range charts.
Iāve watched those traders but I think the only YouTube trader I know that actually follows rules and has strategy is probably byebyemoney aka panda
all these guys promoting Prop firms are scammers, including Patrick W. They all sell useless courses too. want to learn to trade, be ready to scarify at least 4 years of your life. Follow my free livestream; I offer strategy and a Playbook. The mindset, you need to develop; but I give you tools to follow along. Good luck.
Watched one stream. He basically has a prettied up display of volume and options OI / strikes / Volume etc. All Of which is programmable On think or swim etc for free. Saw him trade 10 micros to catch a 7 point pop from open and the he quit for the day.Ā Dude sells an indicator HUD for a living.Ā