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Sam Seiden Goes DOWN

  • #181
  • Apr 11, 2020 5:34am Apr 11, 2020 5:34am
Quoting heispark
Nobody shares his edges and business secrets in this zero sum game....... If not, then 99.99% SCAM. Period!
Your remark is 100% correct . I have been in this business for over three decades and it overflows with " The Greatest Strategy Ever " courses for newcomers .
I was trading futures up to 1987 Stock Market crash , had learned to read charts by then , so watched until it settled down . But I always remembered this interview with an older stockbroker when he was asked by the reporter " what do you do now " . He very candidly said " we`ll have to wait for the next generation of suckers "
How right he was . How many crashes since then ? Of course crashes are not just caused by any one thing { witness where we are today ] but the point is the people who invest , trade , whatever market based on a highly paid course mostly lose . If the strategy was so good it would never be sold . One big tell is if you ever click on catchy headline offering a " Secret to make you rich " for free , then they ask for your email , then your inbox is swamped with endless " best price ever " offers ." Hurry the price will be going up soon " . Unsubscribe quickly . Its a bullshit scam . Anyway glad to see these guys shut down but the trading world swamp has many more such " to good to be true " scams . I have never paid a dime for a course . I have spent money on books , not many . Trading successfully is not some big secret that only few know the answer to . Learn TA until you can glance at a chart and know whats likely to happen next . Learn money management . Pick one strategy .You don`t need to trade every forex pair or whatever it is you trade . Focus , focus , focus , find your edge . Start small , trade real money , demo is a waste of time . That`s it .
  • #182
  • Apr 11, 2020 5:58am Apr 11, 2020 5:58am
Quoting BWilliam
{quote} Hi calebfx, long time. Jimdandy is a good youtube channel. Start here. https://www.youtube.com/channel/UC6N...2p8tJdpLJ2M7iA https://www.youtube.com/watch?v=Pycs...5JsCs4&index=1 Remember mt4 coding is a skill that enables us to do the things we want like creating tools. That's about it. Like learning Japanese language so we may communicate in japanese. The most important part is to read up about time series math. Back to school on this one. It's in the math, that's where the...
Holla BWilliam, thanks Mate. I will watch the videos and also search about time series maths, if you do have links on this do provide me too. Also a website like babypips style for coding would be appreciated even if I have to pay a fee.
Read in between the price!!!
  • #183
  • Apr 11, 2020 6:57am Apr 11, 2020 6:57am
Quoting calebfx
{quote} Holla BWilliam, thanks Mate. I will watch the videos and also search about time series maths, if you do have links on this do provide me too. Also a website like babypips style for coding would be appreciated even if I have to pay a fee.
A series of 3 videos that has increasing progression into time series forecasting. Enjoy mate.
Inserted Video

Inserted Video

Inserted Video
Know what you trade
  • #184
  • Apr 11, 2020 8:56am Apr 11, 2020 8:56am
The OTA problem was not Supply/Demand strategy. The Strategy is good as any other or better. The problem was that they were selling it hard to everybody promising that everyone will be able to make money and accepting everyone. As we all know on this thread, trading is hard, very hard, no matter what Strategy you use. There is no easy money in this business and you can not take money from Goldman Sax, JP Morgan or BoA just by learning few patterns. Trading is not for everyone, 90% are loosing money. I took the class with OTA and I saw the same statistics - about 90% of the class could not understand what they are teaching. You could teach to that class any good strategy and the result would be the same.
  • #185
  • Apr 11, 2020 9:05am Apr 11, 2020 9:05am
Quoting BWilliam
{quote} A series of 3 videos that has increasing progression into time series forecasting. Enjoy mate. https://www.youtube.com/watch?v=ca0rDWo7IpI https://www.youtube.com/watch?v=d4Sn6ny_5LI https://www.youtube.com/watch?v=VYpAodcdFfA
Great Videos BWilliam.

Looks like we are working on similar theory's of time forecasting- We do have an unfair advantage
We can actually predict the future with some decent accuracy if we do a lot of mathematics then average out the bumps.

Which leads me to a bigger mystery because I get surprising results.

Market frequency, phase and amplitude is controlled by what some unknown force

1.. Herd mentality from the masses?
2.. The algorithm that runs the market?

My data suggest we are trading against the Algo because some moves are too dam precise ( using words from George Aus here )
Trading thin liquidity at the boundary of the charts
  • #186
  • Apr 11, 2020 9:16am Apr 11, 2020 9:16am
Quoting BWilliam
{quote} A series of 3 videos that has increasing progression into time series forecasting. Enjoy mate. https://www.youtube.com/watch?v=ca0rDWo7IpI https://www.youtube.com/watch?v=d4Sn6ny_5LI https://www.youtube.com/watch?v=VYpAodcdFfA
Thanks a whole lot Mate
Read in between the price!!!
  • #187
  • Apr 11, 2020 9:17am Apr 11, 2020 9:17am
Quoting BWilliam
{quote} I agree. Price action is another meaningless jargon creation. It's the most used word in forex trading that carries no meaningful definition.
ha ha, I’m stealing that line, always get a laugh watching an analyst “wait and see what is does here”

I have dropped the action and only trade price now

It takes a lot for me to IGNORE you, but you can try.
  • #188
  • Apr 11, 2020 9:22am Apr 11, 2020 9:22am
Quoting Erebus
{quote} ha ha, I’m stealing that line, always get a laugh watching an analyst “wait and see what is does here” I have dropped the action and only trade price now
Totally.. price action.. what??? Trading price aswell here.

I have also read that line too.. "wait and see what it does here" ... Price goes against them and they have infinite explanations of why it didn't work, and they made a "mistake".
  • #189
  • Apr 11, 2020 9:23am Apr 11, 2020 9:23am
Quoting TheRealDeal
Sam Seiden was a TV star. Such people are too busy with appearance and marketing to have the time to learn trading. He was obvisouly having different target. Trading requires years to look at the charts, years to trade the charts and years to become consistent trading successfully the charts. That are a lot of years. And to make it clear: Supply and Demand works Support and Resistance works Trendlines work Moving averages work Finbonacci works Highs and Lows work Pivots work ADR works XYZ....works Any boundary you randomly set and trade, works....
What missing there is “ xxxx works, but not all the time “

same as all indicators work, again, but not all the time

cheers,
It takes a lot for me to IGNORE you, but you can try.
  • #190
  • Apr 11, 2020 10:24am Apr 11, 2020 10:24am
Plot Twist: SSeiden's SD trading approach worked so well for us that it threatened the DOGS.
You do not want to be teaching what might have potential to interfere with the mechanism of 'DOG - eat - dumb dog'.
____
L.L.L.T
  • #191
  • Apr 11, 2020 3:04pm Apr 11, 2020 3:04pm
Quoting KayStreet
Plot Twist: SSeiden's SD trading approach worked so well for us that it threatened the DOGS. You do not want to be teaching what might have potential to interfere with the mechanism of 'DOG - eat - dumb dog'. ____
So Sam Seiden S&D approach worked for you?
  • #192
  • Apr 11, 2020 3:14pm Apr 11, 2020 3:14pm
Quoting GMD
{quote} So Sam Seiden S&D approach worked for you?
8 Years ago I created EA's based on his approach it was about 60% . Now that being said. My Understanding of what being taught is different. than that of the videos I saw of him explaining his "HMMMK and extrapolated signals. It works and it doesnt work. Like all other strategies. If you specifically say something in writing and you cant follow through you put yourself and everyone you employ in a bad position.. Sidens favorite word "hmm k."
  • #193
  • Apr 11, 2020 4:29pm Apr 11, 2020 4:29pm
I find it difficult to figure out, how someone can teach another person, something they don’t know themselves.

Forex is like driving a Trading Car, you come into all situations that action is needs and the driver has to take action, how can that be possible with a fixed system.

EA’s cannot not and don’t work, they might work sometimes, but will eventually blow the account.

Asw
  • #194
  • Apr 11, 2020 4:32pm Apr 11, 2020 4:32pm
Quoting RickM
{quote} Great Videos BWilliam. Looks like we are working on similar theory's of time forecasting- We do have an unfair advantage We can actually predict the future with some decent accuracy if we do a lot of mathematics then average out the bumps. Which leads me to a bigger mystery because I get surprising results. Market frequency, phase and amplitude is controlled by what some unknown force 1.. Herd mentality from the masses? 2.. The algorithm that runs the market? My data suggest we are trading against the Algo because some moves are too dam...

Yep.
  • #195
  • Apr 11, 2020 4:47pm Apr 11, 2020 4:47pm
Quoting Asw
I find it difficult to figure out, how someone can teach another person, something they don’t know themselves. Forex is like driving a Trading Car, you come into all situations that action is needs and the driver has to take action, how can that be possible with a fixed system. EA’s cannot not and don’t work, they might work sometimes, but will eventually blow the account. Asw
Exactly mate. Once in a trade it can only go up or down... There is nothing "fixed" about it...

When you are in a position in the market, is up to trader skills to manage it... You can have a strategy on how to turn a losing position into a profitable one.. but a "system" with fixed entries, SL and TP.. it is just gonna make you lose money on the long run. This is the reason why Sam Seiden was sued by many people who took his VERY expensive courses, and now being charged by FTC..

At least that's how I think..
  • #196
  • Apr 11, 2020 4:54pm Apr 11, 2020 4:54pm
Quoting Asw
I find it difficult to figure out, how someone can teach another person, something they don’t know themselves.
Its always ONLY those who can't do it, who teach it! Some people can memorize the theories, but they can't apply them in real life, because they are not smart enough...so they become teachers. I had plenty of classmates in college, who could memorize everything, they mostly got 100% in all the tests, but they didn't have a clue what they were saying or writing, they didn't understand anything of it, they just memorized the text from books.
Everyone can see the chart, but only a few can actually read it.
  • #197
  • Apr 11, 2020 6:03pm Apr 11, 2020 6:03pm
Quoting GMD
{quote}. but a "system" with fixed entries, SL and TP.. it is just gonna make you lose money on the long run. This is the reason why Sam Seiden was sued by many people who took his VERY expensive courses, and now being charged by FTC.. At least that's how I think..
You still don't get it do you, why OTA, Sam Seiden & Co. are charged by the FTC ?
It never gets easier, you just get better
  • #198
  • Edited 6:45pm Apr 11, 2020 6:22pm | Edited 6:45pm
Quoting Shabs19
{quote} You still don't get it do you, why OTA, Sam Seiden & Co. are charged by the FTC ?
Buddy the one that it is still not getting it is you... You are still in denial.. I understand. But the guy was a fraud, a conman, a scammer... This is the guy that created the so popular concept of "S&D ZONES"... and created a whole technical analysis methodology out of it AND SOLD IT WITHOUT ANY PROOF OF EVER WORKING....
To sell a "trading system" you need to get a patent on USA Gov.. apparently they faked it... This way they convinced clients that if they had a patent for a "working system" the thing must be real... Well.. apparently it wasn't...

Whatever the reason you think FTC is charging him doesn't matter.. the guy was a fraud.

Sam Seiden was a salesman...

Here.. read this. It is in the first page of this thread.. you clearly haven't read it.

https://www.tradingschools.org/onlin...s-its-a-fraud/
  • #199
  • Apr 11, 2020 7:01pm Apr 11, 2020 7:01pm
Quoting GMD
{quote} Buddy the one that it is still not getting it is you... You are still in denial.. I understand. But the guy was a fraud, a conman, a scammer... This is the guy that created the so popular concept of "S&D ZONES"... and created a whole technical analysis methodology out of it AND SOLD IT WITHOUT ANY PROOF OF EVER WORKING.... To sell a "trading system" you need to get a patent on USA Gov.. apparently they faked it... This way they convinced clients that if they had a patent for a "working system" the thing must be real... Well.. apparently...
You are right, he is a salesman. But he is not an inventor of S&D strategy. He tried to sell it by saying he did but he is not. This is a good lesson for anyone that wants to get into trading business. Do not buy anyone's "strategy", there are plenty of free stuff on the internet you can teach yourself, you can come here to FF, other forums and learn on your own. Let's also understand, that the lawsuit is filed against OTA. We will have to wait for any updates to see what is going to happen next. I think we all jumped into conclusion right away, that he is a fraud and so on. Like I said previously, I've never bought any courses or anything. I have thought myself how to trade, by reading and watching videos and see how other traders trade. I did watched few videos recently on youtube by Sam Seiden, and it is not S&D strategy that I trade. We can all agree to disagree here that is it. For now the lawsuit is filed against OTA and we will have to wait and see for results. Either way trading business is all about probabilities, there is no holy grail in this business. Trade safe.


https://www.ftc.gov/news-events/pres...tment-training
  • #200
  • Apr 11, 2020 7:26pm Apr 11, 2020 7:26pm
Quoting Techanalyst
{quote} You are right, he is a salesman. But he is not an inventor of S&D strategy. He tried to sell it by saying he did but he is not. This is a good lesson for anyone that wants to get into trading business. Do not buy anyone's "strategy", there are plenty of free stuff on the internet you can teach yourself, you can come here to FF, other forums and learn on your own. Let's also understand, that the lawsuit is filed against OTA. We will have to wait for any updates to see what is going to happen next. I think we all jumped into conclusion right...
Well I agree, in this business there is no "strategy" that someone can teach you to become profitable.. It will all depend on your skills as a trader.

I admit that long ago I have watched Sam Seiden videos too.. and not so long ago I read some threads here about S&D.. just to add up more knowledge to my trading skills.. but S&D zones methodologies as some "gurus" here teach, wasn't for me..

My problem with this issue is that there IS people in this forum that use the concept of "S&D ZONES" created by Sam Seiden to sell courses of their own "system"... They use the same selling tools Sam Seiden uses... that is the real issue here. But if you ask for any proof of profitability they get offended.

Here it is the Lawsuit by FTC

https://www.tradingschools.org/onlin...y-ftc-lawsuit/
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