I am honestly tired of the idea and hype people have created around smart money concepts.
It’s now a click bait topic and all these losers are selling courses about it.
One of the YouTuber who seems to talk about it or claim it’s all about his work is a liar. He has provided no proof.
Now my question to the real traders is the smart money concept making you money? Or is the technique that you tested, verified etc making you money?
Theoretically any technique looks great on hindsight. But when we place the trades it different.
I also urge new traders to stay away from rushing to become rich in 3 months with lousy courses. 98% of courses are a waste of money. YouTube channels cover more information. As a beginner trader you must know that forex brokers reveal that around 80% are losing. Not from yesterday but the data is constantly around the same 80% for the many years of having courses around.
In my case from 2015, I heard about the click bait or lies that anyone can trade or learn forex. That was a total lie! I was never ever told that majority lose their money and as Ray dalio describes the business as being much more difficult than a Olympic challenge.
Yeah the beginners need to beware of these click baits, trading like banks etc.
It’s impossible for a retail trader to trade like a bank. A bank is a business. A YouTuber or course seller makes his or her bread money fron courses.
Beginners also need to know top YouTube channels and even this website which promotes “supporting beginners” have enough resources. No need to buy anything to act rich or want to get rich fast.
Babypips.com course is equal to any course on earth.
There is definitely something in trying to find traces of where massive positions are set. I don’t believe this is a holy grail or a method in any way better than any other Even around “smart money” there are multiple different tactics like setting supply/demand zones or chasing order blocks etc.
In any technique/strategy/tactic there is SOMETHING to learn from. After all, what we are looking for is positive edge on determining the direction of market for next candles. This may be single candle formation, but if it is confirmed by volume (VSA), there is real candle pattern (japanese forations), occuring on support/resistance or supply/demand zone within a descending triangle (classical technical analysis) and you see RSI to be on extreme… why not to consider these as positive factors?
Long story short - I believe in “smart money” concepts, but as enrichment for other techniques.
If we, you, me or anyone really knows what a bank does we would be a billionaire. Unfortunately we be sipping on Pina colada, on our island with 20 girls, etc.
Unless we are leveraged, equipped with enough funding, skill and knowledge trading is probably the most ruthless career around.
80% are losing whether they know of nice and pretty bank moves and those click baits stuff.
And yeh false break moves, and the manipulation is all there. Infact you can develop a technique without knowing nothing about a bank strictly based on technical analysis.
I assume you a proper trader and already know this.
Beginners if you reading this. Stay away from all mentor BS things, and get your Information from babypips or great YouTube channels which resonate with you.
Okay, so you are telling people in order to not be one of the 80% who fail, you should ignore sentiment analysis and instead just do what 80% of people do looking at basic technicals?
You are saying it’s not important to pay attention to what the market is trying to achieve and not learn to recognise exceptions to typical rules as market manipulation and look at reoccurring chart patterns during periods of manipulation.
It’s definitely frustrating to see so many people trying to sell courses on the topic without providing any real evidence of their success. As you mentioned, it’s critical to focus on techniques you have tested and verified to actually make money in trading. And I completely agree with your advice for new traders to stay away from get-rich-quick schemes and instead take the time to learn from reputable sources.
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Hello dear friend, I m really passionate about new title but I m afraid of nonsence and unusable book and courses, please advise us and introduce insightful things that cause deep learning and get better overview of trading.
Even around “smart money” there are multiple different tactics like setting supply/demand zones or chasing order blocks etc.