The only thing I follow from his is his breakout strategy, scaling out of positions, and not getting out at the top/bottom of a squeeze depending on the squeeze. I get the whole business model that he has and how much it benefits him but at the end of the day, his trading strategy makes sense to me. Have you watched any of his live trading videos? Is his strategy a bad strategy? I'm just wondering what your point of reference is, not trying to be a dick in any way.
It's ok, man. You're just beginning and you were brave enough to post here and take some heat from a couple of frustrated screen monkeys
His strategy has no advantage over other market participants. Think about that. If you win, somebody else must lose and the first in line when it comes to losing would be the CFD market maker/bucket shop he is working for....which doesn't make a lot of sense.
So the idea is to bring a lot of "momentum traders" to the screen who mash buttons and the bucket shop takes the other side.
Thing is, for a beginner, it's not obvious. He's very good when it comes to talking out of his ass so don't be ashamed. If you'd know what I've paid for during my beginning years, you'd still laugh three days from now.
(in 2002 I paid 2k for a 30 page booklet about Wolve Waves...I still have it on my desk as a reminder that there are no shortcuts)
Most important thing is now that you stop doing what you're doing. If you continue, you have zero chance of success. I know it's hard to be honest to oneself with everyone fingerpointing and laughing, but everything else just costs money....your choice.
For a strategy to "make sense" it needs a reason for it to work . And there are only three viable options for those reasons: Either you are faster than everybody else, you know something nobody else knows yet (better research) or you can discover a mispricing relative to another asset.
All of those points have one thing in common: Exploiting other people who either are lazy, stupid or slow. Think about that again: When you press the buy - button on your ranging stock while the market is screaming higher, there has to be someone who sells stock to you at a price that is too low.
This guy is either an idiot or a genius, which most of the time depends on how big his order is.
Most intraday stuff is a combination of stale order abuse for entry prices and timing and watching peer markets for direction. For example you'd trade the gold complex, you have GLD, GDX as indices, watch SPY, USDJYP, and ZN/ZB for directiional hints and trade GG, GOLD AUY and NEM.
SPY tanks, treasuries rally, USDJPY doesn't do much yet, but GLD makes new highs and GDX follows. You look at your stocks orderbooks if there is some idiot who did not pull his sell order and use this order as entry when the other stocks and GDX start to rally, too.
Dying method, still works but it's extremely difficult, not really scalable and you need to grind it out day after day.
I would suggest you stop trading right now and read Gary Nordens book "An End To The Bull"
There is no strategy displayed but you'll get some insights into how this industry works and how you can cut through the bullshit.
Good luck
