Up $1,300,000 Then Lost It All

[NoDoji]

Level 2 data question : Can it be used to gauge supply and demand on longer term charts EG: daily time frames ? or is it mainly for scalping ?

I'm curious how Level 2 data can be useful at all in day trading considering orders can be hidden/iceberg, and can be pulled instantly as well.

I've seen large size resting at a level and in instances where the size is fully absorbed I've seen support or resistance established at that level (rarely), and I've seen the level fail to hold resulting in a significant breakout of the level. More often than not the level fails to hold when the significant size is absorbed. That ("more often than not") in and of itself is an edge.

 

[ras72]

"I debated whether to post this or not but decided to go ahead, hoping that you guys might find a lesson to be learned here.

I also want to take the time to announce my retirement from full-time trading. It's been an amazing 8 years for me. I've made enough money to take care of my family for generations to come, it's been more than I ever hoped for.

This will likely be my last trading video. I don't know what I'm going to do now except whatever I want. Enjoying life is my priority now.

To avoid any confusion, I had planned to retire earlier this year and is not due to this trade.

Thank you all, I wish you the best."

Is this guy legit ?
...

Poor racoon RIP
Could be legit. Why not? Doubt though one would make enough for that superyacht at the end of the vid with that attitude.
BTW Palmer Johnson yacht builders (USA) went bankrupt a few months back.

 

[onemoreshot]

Look at that ES liquidity that day... Crazy....20s and 30s.... Looks like gc or CL.

Is it real? Anyone that knows anything about the dom already knows the answer. He reversed a 300 position order using the ninja "rev" butten. That basically throws a 600 lot market order in the direction of very low bids/offers but very little slippage.

The real question is live sim or replay. Personally I could care less... His videos are entertaining and interesting to watch for comedic and cool dubstep qualities.

 

[Zr1Trader]

Over the years, i've seen lakai's videos once in a while and always have wondered. One thing going for him in my view is that his size has incrementally increased over the years on his vids so if he was fake why wouldn't he just start out with 500 lots like a poser? The animations, video games ect. make me think he is some wannabe but I still am up in the air.

He does talk shop as if he is a real trader and knows his stuff, but whether he is a 5 lot trader or a 500 lot trader remains a question to me. Why would one go for years pretending. If he's a fake that's pretty damn sad, if real deal, awesome and an inspiration.

The majority of the time it seems he does actually use limits so this vid where he's throwing market orders everywhere may just be because he had to that day.

 

[destriero]

He throws mkt orders because he knows that he cannot game the demo while recording. The guy posts stock images of Ferraris or peasant-model MBs where he's in the passenger seat. One of the YT he took-down showed him at a dealership walking around a Ferrari and a salesman can be heard, "please don't take a recording of the car as the plates are on it!" The tradeit guy stated it was "his new car" in the comments.

 

[Aj2014]

Starting to sound like he's just an odd-ball! Just someone desperately trying to convince strangers online that he's a rich trader.
Dissapointing that any time it looks like someone actually can make lots of money trading, it always turns out to be a hoax. Is it actually bloody well impossible?!!! lol

 

[zbestoch]

I'm curious how Level 2 data can be useful at all in day trading considering orders can be hidden/iceberg, and can be pulled instantly as well.

More often than not the level fails to hold when the significant size is absorbed. That ("more often than not") in and of itself is an edge.

Am I missing something, @nodjoi, or did you not just provide yourself with one example where you yourself could, if you wanted to incorporate it into your trading plan, find level 2 information useful?

I find it useful. Friday, for example, 6E traded down to 1.1031 in the AM of the American session, and I was able to see, based on the level 2 info on repeated tests of that level that it was quite likely that that level would hold for at least a test up to where I had gotten short. That was all it took for me to exit my short at 1.1032. Now, here's the thing: I really don't know how to tell you or explain what exactly it is that I was looking at that "told" me that that was likely the best move for me at that moment, unlike your example, which is very specific, and, in my experience, a common day to day, week to week occurrence in the markets I trade.

 

[Zr1Trader]

Over the years, i've seen lakai's videos once in a while and always have wondered. One thing going for him in my view is that his size has incrementally increased over the years on his vids so if he was fake why wouldn't he just start out with 500 lots like a poser? The animations, video games ect. make me think he is some wannabe but I still am up in the air.

He does talk shop as if he is a real trader and knows his stuff, but whether he is a 5 lot trader or a 500 lot trader remains a question to me. Why would one go for years pretending. If he's a fake that's pretty damn sad, if real deal, awesome and an inspiration.

The majority of the time it seems he does actually use limits so this vid where he's throwing market orders everywhere may just be because he had to that day.

Alright I'm correcting my earlier statement that he has sized up over the years, I must have been mistaken from looking at his instagram account in thinking that because I went and watched the very first youtube video from 2010 and he was swinging 400 ES lots in that video. Supposedly started trading in 08 with $13,000 dollars. Smells of bullshit.

and btw, that was a quick "retirement" ...

 

[NoDoji]

Am I missing something, @nodjoi, or did you not just provide yourself with one example where you yourself could, if you wanted to incorporate it into your trading plan, find level 2 information useful?

Yes, I did, and I use it often. (I'm not supposed to be watching the DOM, though, that's not part of my plan!)

 

[Eddiemorra]

No wonder there are SO MANY 'traders' on twitter at the moment selling various coaching DVD's for $500 per time and getting rich in the easiest way imaginable.
The only thing stopping me from doing the same and marketing my own ''how to trade the market like a pro''is my moral compass and the guilt i'd feel as ripping people off!

One of the biggest known scammers is this guy: https://twitter.com/MrDaveRobertson
This is his current handle. It wil dissapear in a few months time to be replaced with a new identity/
He's had about 50 of them.

He's infamous in the UK and on the UK trading forums. He charges people thousands for DVD's and chatrooms and courses etc, they all lose their money because it's a load of junk, then he changes his 'name', starts up a new website with a new course etc, and does it all over again.
He even gloated about it on trade2win a few years ago and bragged about the hundreds of thousands of dollars he'd made from selling his junk to the guillible, complete with statements from his paypal account! amazing. Should be in jail, but there's no regulation.

Whad'ya know! As predicted, The twitter profile has now been deleted
He's found enough people to pay him £500 each for his DVD course, made his 50K or so in a few weeks, and now to make a new twitter handle with new 'material' to do it all over again.
If I didn't have a conscience, I'd join him!