The Trading Geek (Brad Goh) is a Fraud and I have Proof
Summary
TLDRThe video emphasizes the importance of discipline, patience, and understanding market structures for successful trading. It discusses common mistakes, such as overtrading, blindly copying candlestick patterns, and not following trading rules. The speaker shares personal experiences of almost quitting trading and highlights the importance of having a solid strategy, starting small, and practicing consistently. The video also warns viewers about misleading trading content on YouTube and encourages transparency. Key rules for trading include practicing daily, following a proven strategy, and avoiding impulsive decisions driven by market fluctuations.
Takeaways
- đ **Understand Candlestick Patterns**: Truly comprehend what candlesticks indicate to make informed trading decisions.
- đ **Patience and Alertness**: Good traders are patient, waiting for the right setup before taking action without hesitation.
- đ« **Avoid Quitting**: If you're considering quitting Forex or day trading, this video aims to inspire and rekindle your trading spirit.
- đ **Education Over Blind Copying**: Don't just copy candlestick patterns; understand them to avoidçČçźæšĄä»ż.
- đ **Fear Management**: Overcoming fear of red candles and early trade closure is crucial for successful trading.
- đž **Beware of Plagiarism**: Be cautious of trading YouTubers who plagiarize content just for ad revenue.
- đ **Promote Honesty**: Share this video to help make the trading community more transparent and honest.
- đŒ **Transparency in Revenue**: The speaker is affiliated with a Futures prop firm and is transparent about their revenue sources.
- đïžââïž **Daily Practice**: Practice trading daily, just like professional athletes, to improve your skills.
- đ **Follow Trading Rules**: Maintain discipline and adhere to your trading rules for long-term success.
- đč **Start Small**: Begin with small trades and work your way up as you gain experience and confidence.
- đ **Use a Strategy**: Employ a tested and reliable trading strategy from the start for better outcomes.
- đ **Understand Market Structure**: Know when the market is trending, ranging, or reversing to make better trading decisions.
- đ« **Avoid Overtrading**: Don't overtrade; focus on quality trades rather than quantity to minimize losses.
Q & A
What are the three important messages the speaker wants to convey in the video?
-The speaker wants to convey the importance of understanding candlestick patterns, the mindset of good traders being alert and patient, and the encouragement to not quit trading despite challenges.
What does the speaker suggest is a key trait of good traders?
-Good traders are described as being alert and patient, taking trades without hesitation when their desired setup appears.
Why does the speaker believe some traders may be considering quitting Forex or day trading?
-The speaker suggests that some traders might be considering quitting due to the challenges and pressures of trading, and the video aims to provide inspiration and rekindle the joy of trading.
What is the speaker's view on blindly copying candlestick patterns?
-The speaker warns against blindly copying candlestick patterns without understanding them, as this approach is unlikely to lead to profitability.
What is the speaker's opinion on the motives of some trading YouTubers?
-The speaker criticizes some trading YouTubers for plagiarizing content and exploiting vulnerable beginners for ad revenue and course sales.
What is the speaker's advice for traders who are new to the market?
-The speaker advises new traders to start small, practice every day, follow their trading rules, and not to chase the market but instead let the market come to them.
Why does the speaker emphasize the importance of having a good trading strategy?
-The speaker stresses that a good trading strategy is crucial for success and suggests testing it on a demo account before using it in real trading.
What does the speaker mean by 'understanding market structure'?
-Understanding market structure refers to recognizing when the market is trending, ranging, consolidating, breaking out, or reversing.
Why does the speaker advise against over trading?
-Over trading increases the likelihood of losses, and the speaker recommends focusing on quality trades rather than quantity.
What is the speaker's stance on the use of break-even stops in trading?
-The speaker recommends using break-even stops as a strategy to secure profits and limit losses once a trade has become profitable.
How does the speaker suggest traders can improve their discipline?
-The speaker suggests that traders can improve their discipline by following their trading rules and being consistent in their approach.
Outlines
đĄ Importance of Candlestick Patterns and Patience in Trading
The speaker emphasizes the importance of understanding candlestick patterns in trading. They stress that good traders are both alert and patient, waiting for the right setups without hesitation. They also mention that this video is aimed at inspiring viewers, particularly those considering quitting trading, to rekindle their passion for it. The speaker reflects on their own experiences, including moments when they almost quit trading, and emphasizes the importance of truly understanding candlestick patterns rather than blindly copying them. Without this understanding, traders are unlikely to be profitable.
đ Common Pitfalls and Emotional Reactions in Trading
This paragraph delves into the emotional challenges that traders face, particularly the tendency to panic and exit trades prematurely. The speaker shares their experience of closing trades early due to fear when seeing red candles after entering a position. They also critique certain trading YouTubers who, in their view, prioritize ad revenue and course sales over genuine educational content. The speaker hopes viewers will learn from this and become more discerning about where they get trading advice. They promote their own approach of transparency and dedication to helping new traders, contrasting it with those who manipulate beginners.
đ Importance of Discipline and Practicing Daily in Trading
The speaker stresses the importance of practicing daily and being disciplined in trading. They draw a comparison with professional athletes who practice more than they play in real games. Following trading rules consistently is critical, as lack of discipline often leads to mistakes like moving stop-loss orders, revenge trading, or overtrading. The speaker emphasizes that discipline is essential to achieving success in both trading and life. They ask viewers to reflect on how their lives might improve if they consistently followed through on the things they know they should do.
đ« Breaking Bad Trading Habits and Avoiding Overtrading
This paragraph discusses the bad habits traders often fall into, such as overtrading and forcing trades after a losing streak. The speaker urges traders to avoid these pitfalls by sticking to their trading strategies and only taking high-quality trades. They emphasize that less frequent trading can result in fewer losses, as traders are more selective and less prone to making emotional decisions. Overtrading increases the chances of losses, while disciplined, strategic trading allows for more consistent profitability. The speaker advises traders to be patient and wait for the right opportunities rather than constantly entering the market.
Mindmap
Keywords
đĄCandlestick Patterns
đĄTrading Setup
đĄDiscipline
đĄPatience
đĄOvertrading
đĄMarket Structure
đĄBreak-Even Stops
đĄScalping Strategy
đĄEmotional Trading
đĄStart Small
Highlights
Three important messages about trading and candlestick patterns
Importance of truly understanding what a candlestick is telling us
Characteristics of good traders: alert and patient
Taking trading opportunities without hesitation
Encouragement for those on the verge of quitting Forex or day trading
Inspiring viewers to rekindle the joy of trading
Personal experiences of almost quitting trading
Critique of blindly copying candlestick patterns without understanding
Overcoming fear to hold trades longer
Exposing plagiarized content in trading education
The reality of trading YouTubers' motives
The importance of practice in trading
Discipline as the key to success in trading
Advice on not moving stop-loss and avoiding revenge trades
The significance of having break-even stops
Starting small in trading to build up gradually
The necessity of having a good trading strategy
Understanding market structure for effective trading
Warning against overtrading and the importance of quality over quantity
Transcripts
I just want to share with you I want to
show you three three important important
messages in this video in this video and
so what we want to do is so what we want
to do is truly understand truly
understand what a Candlestick is what
the candlesticks is telling us of
telling us good Traders are alert yet
patient good Traders they are alert and
patient when I set up they've been
waiting for shows up so when a good
trading setup that they have been
waiting for comes up they take it
without hesitation they're gonna take
the trade without any hesitation
if you are thinking of if you're
thinking of quoting Forex quitting Forex
or quitting day trading or day trading I
think it'll help you out a lot this
video will definitely help you out a lot
if you're sitting here right now
watching this video if you're watching
this video right now you could either be
on the verge of quitting you are either
about the quick trading you have just
recently quit you have already quit
trading or you are a fan of me and I
appreciate you all you know you just
love my videos which I appreciate it and
by the end of the video by the end of
this video hopefully you feel inspired
hopefully you'll feel inspired maybe
rekindle trading if you have quit it or
maybe even rekindle the joy of trading
if you have already created let's jump
into the first one I want to share with
you guys firstly I want to show you guys
the time or times I almost quit trading
the times where I almost quit trading
I'm sure you've seen a Candlestick cheat
sheet pattern like this before you have
probably seen a Candlestick cheat sheet
just like this but have you ever seen
one like this but have you ever seen one
like this many videos on YouTube talk
about Candlestick parents most videos on
YouTube talks about Candlestick patterns
but no video on YouTube truly teaches
you to understand them but no one really
teaches you how to understand these
Candlestick patterns without this you're
just blindly copying patterns if you do
not do this you are just blindly copying
Candlestick patterns and you will
probably not become and you will not
become profitable profitable
so you see a trading opportunity looks
like a decent setup so you see a trading
opportunity that lines up with your
trading plan might you hesitate but you
start to hesitate I used to close my
trades after a few minutes when I saw
several red candles below my entry point
in my first year whenever I start seeing
some sort of like red candlesticks like
this in a row after I end up for a buy
position I will start getting scared and
this fear will cause me to get out of
this trade early we have no idea how
deep this goes or if he even has a
single video that isn't blatantly
plagiarized from the other trading
YouTubers the screenshots of videos here
are just as blatantly plagiarized as the
clips that I played but I figured the
point had been made and I also couldn't
tolerate another second of listening to
him Riley or the secret mindset since a
lot of you watching this are new and
haven't yet realized that the trading
YouTubers you idolize just make YouTube
videos for ad Revenue course sales
Discord sales trade alert sales and any
other way to suck money out of
vulnerable beginners I'd like to take
this opportunity to tell you that this
won't be the last time something like
this happens I hope you use this as a
valuable Learning lesson about the
intentions and motives of the channels
that you claim are helpful the video in
the top right about how much money
they're making might change your mind
share this video and help me to make the
trading Community more honest the only
thing I do for extra Revenue here is
that I'm affiliated with trade day a
Futures prop firm that is unlike all the
others which you'll see on the screen I
am personally trying to get funded and
actually pay for resets when I fail and
I've documented my entire trading
Journey from the beginning on my second
Channel down below if you use my code
for 20 off I'd really appreciate that
everything I do is 100 transparent and I
make videos that I think will help
people rather than doing what the
trading geek does which is just
plagiarize popular trading videos to get
ad revenue and to get beginners to buy a
trading course but until that time comes
but undo that time comes they are not
moved by the price fluctuations that
tempt other Traders they are not faced
by this random price fluctuations that
beat all the other newbie Traders they
don't chase the market they let the
market come to them do not chase the
market let the market come to you number
10 guys rule number 10 practice every
day guys this is very important the 10th
rule is to practice every day if you
look at any professional sport player so
think about any professional sports
player right now they are practicing
more than they are playing a real game
they put in the work day in day out they
practice every single day don't break
your rules guys please you need to
follow your trading rules you have to be
disciplined discipline is the only way
anything you want in life if you're
discipline you can get it what would
happen to your life if you set out to do
the things that you know that you should
do you are not disciplined enough you
know not to move your stop-loss you know
that you should not Revenge straight
after a losing streak you know not to
take trades or Force trades you know
that guys you know that you should not
over trade but guess what you still do
it but you still do it anyways number
six have break even stops so the second
tip that I have for you is to have break
even stops this is very important so
let's go to a good exam so let's look at
this example right here rule number two
guys start small the next rule that I
have for you is to start small because
everybody wants to make 200 in one day
500 in one day a thousand dollars in one
day everyone wants to make thousands of
dollars from scalping in one day if you
can't make ten dollars in one day but if
you cannot even make ten dollars in one
day why do you think you can actually
make a thousand dollars in one day what
makes you think that you can make one
thousand dollars stopping in one day so
start small so I want you to start by
trading small rule number three trade a
good strategy guys firstly you need to
use a good sculpting strategy this is
very important okay this is the most
important one
have a good strategy from the beginning
so how do you you know come up with a
good strategy or find a good strategy
well you have to either test it out back
test you know and make sure that
strategy work like example if you have
tested your strategy on your demo
account so if you want to find out
what's the scoping strategy that I use
the Sim stop copying strategy that's
made me over five figures from Trading
six figures from Trading you can check
out the trading blueprint course Link in
the description or you find someone
that's doing this that's the best way to
go anyway
understand Market structure guys please
this is a big one the knife route is to
understand Market structure you have to
know when the market is trending which
means you must know when the market is
trending you have to know when the
market is ranging you must know where
the market is called consolidating when
it's breaking out when it's reversing
and you must know when the market is
reversing don't over trade this is a big
one okay thirdly don't over trade so
when it comes to trading marketing and
scalping the market most people think
that you know you have to take 100
trades or 30 trades or 20 trades per day
you know go in and out oh I like this
trade right here I'm gonna take this
straight oh oh yeah like just because
you are a scalper doesn't mean that you
should take 10 000 trades every single
day me personally I trade sometimes one
time a day or two times a day or even
three times a day for me I only dread
when there's an opportunity so if I'm
scalping I will only be trading once or
twice a day make sure you don't over
trade and look for high quality Trace so
you don't have to just go in and out and
lose all your money so make sure that
you actually take some time out to
filter out the trades and look for high
quality trades so you don't just go in
and out of different trades and lose all
your money right and lose all your money
and lose all your money
the more you trade the more you're prone
to losing think about this if you trade
100 times maybe like 80 of those trades
are losses however if you trade lesser
you'll be prone to less losses because
you are trading less frequently
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