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Sam Seiden Goes DOWN

  • #461
  • Apr 16, 2020 5:38am Apr 16, 2020 5:38am
Quoting viptrading
{quote} Yeah, its only good for entries. IMHO. Not good enough to base your trading on charts alone dude. Your broker may be teaching you perfectly fine the problem is they cant teach you everything
Now I am going to say a rude work - FXCyborg

Hands up if you left Forex Factory early last year to join his Discord channel. His motto was F...... Forex Factory.

For those traders who are unaware what happen, he convinced around 100 traders here to switch over to his Discord channel where he was going to teach them how Supply & Demand, Resistance and Support and how it was going to make them " a million dollars as a group ".
I talked to a member here who I won't name who became a administrator on one of his channels. Those traders mostly weren't newbies.
He told me that out of the 100 members or so that lasted a few months, only a few actually became profitable. This was public knowledge because every member had to show a trade report every week. Sadly just about every trader there FAILED.
So again we have a situation where many good traders still couldn't run a profitable account using supply and demand.

Of course in the end, he just wanted members to sign up to his IB brokage account and buy his training course.
Trading thin liquidity at the boundary of the charts
  • #462
  • Apr 16, 2020 5:44am Apr 16, 2020 5:44am
Quoting RickM
{quote} Now I am going to say a rude work - FXCyborg Hands up if you left Forex Factory early last year to join his Discord channel. His motto was F...... Forex Factory. For those traders who are unaware what happen, he convinced around 100 traders here to switch over to his Discord channel where he was going to teach them how supply & Demand, resistance and support and how it was going to make them " a million dollars as a group ". I talked to a member here who I won't name who became a administrator on one of his channels. Those traders mostly...
Whatever the strategy if there is no objective quantifiable definition it's open to interpretation and discretionary application. No test is possible. No way to determine positive edge.

My advice to those newcomers and veterans looking for positive edge strategy, objective quantification is a must have yardstick. Don't compromise on this.
Know what you trade
  • #463
  • Apr 16, 2020 5:44am Apr 16, 2020 5:44am
Quoting RickM
{quote} Now I am going to say a rude work - FXCyborg Hands up if you left Forex Factory early last year to join his Discord channel. His motto was F...... Forex Factory. For those traders who are unaware what happen, he convinced around 100 traders here to switch over to his Discord channel where he was going to teach them how supply & Demand, resistance and support and how it was going to make them " a million dollars as a group ". I talked to a member here who I won't name who became a administrator on one of his channels. Those traders mostly...
The 95% traders will fail, for many reasons. He said it is going to make them a million dollar and they all jumped in. Those traders you say were not newbies, does not matter how long you are trading. You either have it or you don't.

This FXCyborg...
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  • #464
  • Apr 16, 2020 5:58am Apr 16, 2020 5:58am
Quoting RickM
{quote} Now I am going to say a rude work - FXCyborg Hands up if you left Forex Factory early last year to join his Discord channel. His motto was F...... Forex Factory. For those traders who are unaware what happen, he convinced around 100 traders here to switch over to his Discord channel where he was going to teach them how Supply & Demand, Resistance and Support and how it was going to make them " a million dollars as a group ". I talked to a member here who I won't name who became a administrator on one of his channels. Those traders mostly...
I just checked his thread. Looks like his membership is revoked, not sure why. On his charts, it says "for educational purposes only". Not sure what he did? Doesn't say that he promised millions. Not sure what happened with him.
  • #465
  • Apr 16, 2020 7:29am Apr 16, 2020 7:29am
Quoting Techanalyst
{quote} That is your opinion. You can't find S&D on a chart, you don't know how to trade S&D it is that simple. I do agree other data come into play. Finding S&D on charts is not fiction. It is the only way , that is the economy, finance, trading that is how it works. Supply/Demand. Is it easy to find it on a chart? Absolutely not, but you have to practice and practice until you understand it.
It is not my opinion, the fact that I have learned and practiced for over a year, and came to such a conclusion from 5 years ago, 2017, when the concept of SD zone began to prevail in FF, even I had my own software about SD zone from my IT programmer, but after all, I soon realized that this method wasn't practical, it was simply a hypothesis and what Sam Seiden made it popular was base on the internet. You can worship it because you don't accept the fact that every hypothesis is just a hypothesis, and the SD zone is just a hypothesis that Sam Seiden has devised and sold it, but now it has been stripped by FTC. The most important with a trader is to earn money for daily living, if he can't do it, he will fail out and leave the financial market, and I am still a trader for over 10 years until now.
  • #466
  • Apr 16, 2020 7:31am Apr 16, 2020 7:31am
Quoting Antony_sg
{quote} It is not my opinion, the fact that I have learned and practiced for over a year, and came to such a conclusion from 5 years ago, 2017, when the concept of SD zone began to prevail in FF, even I had my own software about SD zone from my IT programmer, but after all, I soon realized that this method wasn't practical, it was simply a hypothesis and what Sam Seiden made it popular was base on the internet. You can worship it because you don't accept the fact that every hypothesis is just a hypothesis, and the SD zone is just a hypothesis that...
So am I a trader for years. If you don't know it, find another strategy. I combine my strategy with COT reports and fundamentals data and so on. Stop replying and trying to convince me otherwise because you won't succeed. I am convinced because I am trading it for years and successfully. As for Sam, I don't know anything about his strategy and does not interest me. Been trading for a living for years successfully.
  • #467
  • Apr 16, 2020 7:33am Apr 16, 2020 7:33am
Quoting Techanalyst
{quote} I just checked his thread. Looks like his membership is revoked, not sure why. On his charts, it says "for educational purposes only". Not sure what he did? Doesn't say that he promised millions. Not sure what happened with him.
Because he advertised his intend to take hundreds of Forex factory members with him to his thread. It his words, he was going to destroy Forex factory after he had a big fight with Twee. He posted manuals on three of his strategy's he was trading and to be fair, they were impressive.
So impressive traders left in droves.

And yet NO one will put up their hand and say they were there ha ha
Trading thin liquidity at the boundary of the charts
  • #468
  • Apr 16, 2020 7:38am Apr 16, 2020 7:38am
Quoting RickM
{quote} Because he advertised his intend to take hundreds of Forex factory members with him to his thread. It his words, he was going to destroy Forex factory after he had a big fight with Twee. He posted manuals on three of his strategy's he was trading and to be fair, they were impressive. So impressive traders left in droves. And yet NO one will put up their hand and say they were there ha ha
One of a kind marketing skill that fooled so many when almost none manage to be profitable. One lesson we learn from this episode is there're only so few who can make proper evaluation of trading strategies.
Know what you trade
  • #469
  • Apr 16, 2020 7:50am Apr 16, 2020 7:50am
Quoting RickM
{quote} Now I am going to say a rude work - FXCyborg Hands up if you left Forex Factory early last year to join his Discord channel. His motto was F...... Forex Factory. For those traders who are unaware what happen, he convinced around 100 traders here to switch over to his Discord channel where he was going to teach them how Supply & Demand, Resistance and Support and how it was going to make them " a million dollars as a group ". I talked to a member here who I won't name who became a administrator on one of his channels. Those traders mostly...
G'day RickM, good to know all that stuff about FXCyborg, FF & Discord. I got as far as FXCyborgs introductory page on discord but didn't take it any further, and glad I didn't
He struck me as a guy with way out ideas on trading that probably made himself successful but wouldn't translate to other traders to well.
Don't Leave Money on the Table
  • #470
  • Edited 8:18am Apr 16, 2020 8:06am | Edited 8:18am
Quoting HaLBot
{quote} G'day RickM, good to know all that stuff about FXCyborg, FF & Discord. I got as far as FXCyborgs introductory page on discord but didn't take it any further, and glad I didn't He struck me as a guy with way out ideas on trading that probably made himself successful but wouldn't translate to other traders to well.
Hi Hal, this is part of a message I got from a moderator there

The second paragraph is just me showing off.


NO I WASN"T FAKING IT


OK here is the funny thing, I made over 1000 pips in a week trading Supply & Demand ha ha ha ha ha ha
AND I DON'T EVEN BELIEVE IN THAT STUFF
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Trading thin liquidity at the boundary of the charts
  • #471
  • Apr 16, 2020 8:16am Apr 16, 2020 8:16am
Quoting RickM
{quote} Hi Hal, this is part of a message I got from a moderator there The second paragraph is just me showing off. NO I WASN"T FAKING IT {image} {image}
So you were there ha ha

1000pips a week s/d trading and now in the trash bin, funny that.
Know what you trade
  • #472
  • Apr 16, 2020 8:34am Apr 16, 2020 8:34am
Quoting YYZ
{quote} Why someone need to ask for proof? If person is lying about his/her trading it is his/her problem no-one's else....
I believe it is a problem.. Many people come to this forum to start learning some basics. And they see a lot of people with big words and big mouthes talking how good they are and they live full time from their trading... just posting good looking charts..

So this new traders believe this people and try to copy them... when in reality this "traders" are just losing money.. or maybe just breaking even at the end of the year.

If you are gonna go around every thread talking big time about yourself.. at least have the decency to show some results, right?

But that's how I feel about it.
  • #473
  • Edited 9:06am Apr 16, 2020 8:52am | Edited 9:06am
Quoting BWilliam
{quote} One of a kind marketing skill that fooled so many when almost none manage to be profitable. One lesson we learn from this episode is there're only so few who can make proper evaluation of trading strategies.
It is that.. or.. maybe.. just maybe.. most trading strategies as we see in FF are all bullshit... Looking for perfect entry, perfect SL position, perfect TP... You can have a strategy for an entry point... but here is no such thing as analysing a chart for a "perfect entry"

There is no such thing.. But that it is just my own experience on this.

Plan a trade by money managment strategy, get in a position, no SL.. manage that trade if it goes against you... This is it.. All the rest is all fairy tales.
You can draw as many lines as you want in your charts, use indicators, whatever you want.. But if you don't do as I said above, then it is not possible.
"Trading systems" with money managment as taught by your Broker and in FF, it's all lies...

You are in here to COMPOUND your money.. How can you compound if you are constantly losing trades with tight SL??? Next trade your compounding is gonna be lower.. harder to come back.

Let me ask you... Do you think someone like George Soros trades with a Stop Loss?? Maybe he has but a VERY wide one.. just as emergency in case of very low equity.. or equity he has had enough of a DD.. But I doubt it.

And I am talking from the experience of way better proven traders I know.

GMD
  • #474
  • Apr 16, 2020 8:55am Apr 16, 2020 8:55am
Quoting GMD
{quote} It is that.. or.. maybe.. just maybe.. most trading strategies as we see in FF are all bullshit... Looking for perfect entry, perfect SL position, perfect TP... There is no such thing.. Plan a trade by money managment strategy, get in a position, no SL.. manage that trade if it goes against you... This is it.. All the rest is all fairy tales. You can draw as many lines as you want in your charts, use indicators, whatever you want.. But if you don't do as I said above, then it is not possible. And I am talking from the experience of way better...
But but... there are so many pro traders who make tons of money on this forum. Check out interactive threads and the most popular systems thread, so many people making easy money. Draw lines, pivot, fibs and use PA.
Know what you trade
  • #475
  • Apr 16, 2020 9:09am Apr 16, 2020 9:09am
Quoting BWilliam
{quote} But but... there are so many pro traders who make tons of money on this forum. Check out interactive threads and the most popular systems thread, so many people making easy money. Draw lines, pivot, fibs and use PA.
Yeah bro, I am not saying there aren't profitable traders.. and again like I said.. Everything can work, as long the main focus on your strategy is money managment and not analysing a chart for "perfect entry, fixed SL and fixex TP"
  • #476
  • Apr 16, 2020 9:15am Apr 16, 2020 9:15am
Quoting GMD
Let me ask you... Do you think someone like George Soros trades with a Stop Loss?? Maybe he has but a VERY wide one.. just as emergency in case of very low equity.. or equity he has had enough of a DD.. But I doubt it. And I am talking from the experience of way better proven traders I know. GMD
George Soros, Ray Dalio commit billions into their trade idea. No such thing as mickey mouse 0.1% trades.

On retail forum, the pros here say that's stupid trading for losers.
Know what you trade
  • #477
  • Apr 16, 2020 9:18am Apr 16, 2020 9:18am
Quoting BWilliam
{quote} George Soros, Ray Dalio commit billions into their trade idea. No such thing as mickey mouse 0.1% trades.
So you are saying that trading millons makes no sense to use SL, but trading 0,1% is better to use SL? Shouldn't it be the same??

George Soros makes long term trades mostly. Maybe a day trader uses 0,1%.. both cases using SL would make you lose money. Making compounding much harder.
  • #478
  • Apr 16, 2020 9:22am Apr 16, 2020 9:22am
Quoting GMD
{quote} So you are saying that trading millons makes no sense to use SL, but trading 0,1% is better to use SL? Shouldn't it be the same??
I'm saying those big guns commit somewhere between 10-50% of capital into one trade idea, ofc in the hundreds of millions upward.

On retail Forum, the pros all say commit 0.01-1% for each trade.

Big difference. Not sure if anyone realise this.
Know what you trade
  • #479
  • Apr 16, 2020 9:28am Apr 16, 2020 9:28am
Quoting BWilliam
{quote} I'm saying those big guns commit somewhere between 10-50% of capital into one trade idea, ofc in the hundreds of millions upward. On retail Forum, the pros all say commit 0.01-1% for each trade. Big difference. Not sure if anyone realise this.
Well I am pretty sure 1% for George Soros must be many millons too

But yeah, pro retail traders could be risking 0,01 - 1% per trade.. Doesn't mean you should be trading with SL.. Compounding works the same no matter if you trade millons or just a few bucks
  • #480
  • Apr 16, 2020 9:38am Apr 16, 2020 9:38am
Quoting GMD
{quote} I believe it is a problem......
I do not know what to say. you and such want to guard adult person from another adult person and no one is asking you to do so...
----

I will delete this post , no need to reply if you intended.
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