which youtube "traders" are legit?

newwurldmn said:
You know how difficult it is to compound an account by 270percent for 10 years? The things you can/have to do with 10k is vastly different than what you can/have to do at 10mm.
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He did say that part of the reason he switched to swing trading stocks with a holding time for as long as months was because of the scalability.

You can't deny that it's been an incredible bull market over the last 10 years and even by luck someone could achieve 270 per cent anually.

I wonder at what size such a strategy starts seeing limitations, though. If you're swing trading stocks with a huge universe of stocks to choose from and it's a broad bull market I imagine it can scale pretty well, but I wouldn't know where such a strategy would hit the roof.
 
Laissez Faire said:
You can't deny that it's been an incredible bull market over the last 10 years and even by luck someone could achieve 270 per cent anually.
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Compounded 270%.

Its too good to be true. It's unlikely someone can switch their trading strategy in such a short period of time and still be equally effective. Different things cause stocks to behave on different time frames. This guy figured it all out and keeps minting money unheard of in institutional spheres and then decides to stream it and asks his viewers for testimonials to convince others to view his stream?
 
One interesting youtuber I can tell you that is 'not' legit, is that Chicken Singapore Genius guy. He's got a bunch of flack lately because only three months ago he was making videos on how to make easy-peasy income by selling PUTs on Tesla to make incredible gains for no work. He also was instructing people to 'quit your job'.. and how even if the Tesla trades goes against you, you can just ROLL your PUTs forward and once again, easy-peasy. Guaranteed win-win.

Alright, that was ONLY 3 months ago he was posting that dribble. And for the update, he's been forced to sell off his positions (including Tesla) at fire-sale prices to avoid margin calls.

All I can say is.... "I figured something like that was bound to happen. And any of his followers who were following his trades quite honestly deserve what they get."

Why do so many Youtube/tictok gurus like to make it out that naked options is some sort of free-lunch and everyone else is too stupid to just take advantage of it? If at least they said it was 'hard stuff' then it would be more believable...
 
Can someone familiar with TC2000 (I believe thats the platform Kullamagi uses) look at this screenshot he posted on Mar 8. Is the position size shown (934,978)what is currently still OPEN or the ORIGINAL position size? It appears he placed a 51.8mm bet on an INDO short at 55.41 and it was trading at about 40.41 when the screenshot was taken, for a 27% gain. He had already covered some of the position but a lot was still open. I'm not familiar with the TC2000 platform so my numbers might be off.
 

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newwurldmn said:
Compounded 270%.

Its too good to be true. It's unlikely someone can switch their trading strategy in such a short period of time and still be equally effective. Different things cause stocks to behave on different time frames. This guy figured it all out and keeps minting money unheard of in institutional spheres and then decides to stream it and asks his viewers for testimonials to convince others to view his stream?
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I'm not sure I agree. I definitely agree his results makes him a bit of an outlier, but considering the market conditions over the last 12 years it's definitely within the realms of what's possible. There are several traders in the Market Wizards books with similar results. This guy is a retail trader, not an institutional trader.

As for the streaming thing I can only repeat what I said earlier with regards to having other motivations than money and how trading can be a lonely business. Why are you yourself posting on EliteTrader? Is it to make money or is it to have some kind of contact / "socialize"?

But like I said earlier. I'm not going to go out of my way to defend a guy I don't even know that much about. It just seems possible that he actually may be the real deal...

EDIT: I changed the wording from plausible to possible. I can definitely understand the skepticism.
 
Laissez Faire said:
I'm not sure I agree. I definitely agree his results makes him a bit of an outlier, but considering the market conditions over the last 12 years it's definitely within the realms of what's possible. There are several traders in the Market Wizards books with similar results. This guy is a retail trader, not an institutional trader.

As for the streaming thing I can only repeat what I said earlier with regards to having other motivations than money and how trading can be a lonely business. Why are you yourself posting on EliteTrader? Is it to make money or is it to have some kind of contact / "socialize"?

But like I said earlier. I'm not going to go out of my way to defend a guy I don't even know that much about. It just seems possible that he actually may be the real deal...

EDIT: I changed the wording from plausible to possible. I can definitely understand the skepticism.
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I am on elitetrader to kill time and occasionally I get a trade idea. But really to kill time. I don’t solicit likes. Nor do you.

to return 270 percent the raging bull market isn’t enough. Just to earn by owning aapl, you would have had to be levered 8:1. And then you would have far more volatility than he’s claiming.

If he earned 270percent uncompounded I would buy it if he claimed an account size of a hundred K. But not at 40mm.
 
Those who are trading on YouTube are good for entertainment purposes, but I would avoid following them while trading because I’m risking real money and I don’t want to lose. There are many genuine sources available such as Udemy and Coursera, where one can learn the intricacies of forex trading, so I’d prefer them.
 
angrytrader said:
:D About 300 episodes with several traders, and you didn't find anything interesting. Nothing at all. I guess the question is for you then, can you recommend anyone that would keep up to your standards?
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there are live rooms that execute with 100% transparency, show # contracts, P/L in real time and post a detailed track record of all trades in a spreadsheet (not a stupid video). Of the many thousands of sites out there, I know of 6. And of course, all 4000+ robotic programs in TS do the same as robots never lie.
 
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