The Trading Geek (Brad Goh) is a Fraud and I have Proof

Summary

The 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

• 📈 **Understand Candlestick Patterns**: Truly comprehend what candlesticks indicate to make informed trading decisions.
• 🔍 **Patience and Alertness**: Good traders are patient, waiting for the right setup before taking action without hesitation.
• 🚫 **Avoid Quitting**: If you're considering quitting Forex or day trading, this video aims to inspire and rekindle your trading spirit.
• 📚 **Education Over Blind Copying**: Don't just copy candlestick patterns; understand them to avoid盲目模仿.
• 📉 **Fear Management**: Overcoming fear of red candles and early trade closure is crucial for successful trading.
• 💸 **Beware of Plagiarism**: Be cautious of trading YouTubers who plagiarize content just for ad revenue.
• 🌐 **Promote Honesty**: Share this video to help make the trading community more transparent and honest.
• 💼 **Transparency in Revenue**: The speaker is affiliated with a Futures prop firm and is transparent about their revenue sources.
• 🏋️‍♂️ **Daily Practice**: Practice trading daily, just like professional athletes, to improve your skills.
• 📉 **Follow Trading Rules**: Maintain discipline and adhere to your trading rules for long-term success.
• 💹 **Start Small**: Begin with small trades and work your way up as you gain experience and confidence.
• 📈 **Use a Strategy**: Employ a tested and reliable trading strategy from the start for better outcomes.
• 📊 **Understand Market Structure**: Know when the market is trending, ranging, or reversing to make better trading decisions.
• 🚫 **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

00:00

💡 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.

05:01

🔄 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.

🏅 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.

🚫 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.

Keywords

💡Candlestick Patterns

Candlestick patterns are visual representations of price movements in trading. They indicate the open, high, low, and close prices within a specific time frame. In the video, the speaker emphasizes that most traders blindly copy candlestick patterns without fully understanding them, which can lead to unprofitable trading. The key takeaway is to learn to interpret these patterns beyond surface-level recognition.

💡Trading Setup

A trading setup refers to the conditions or signals that traders look for before entering a trade. The video stresses the importance of patience and not hesitating when a good trading setup that aligns with a trader's plan appears. Successful traders act decisively when their desired setup manifests.

💡Discipline

Discipline in trading is about adhering to a well-thought-out plan, following rules, and avoiding impulsive actions. The speaker highlights discipline as a crucial factor in achieving success, noting that traders must avoid breaking rules such as moving stop-loss orders or revenge trading after a loss. Without discipline, traders are prone to emotional decisions that can result in significant losses.

💡Patience

Patience is described as a core trait of successful traders who wait for the right opportunities rather than rushing into trades. The speaker explains that good traders stay alert but patient, and they wait for the market to come to them rather than chasing trades impulsively. This approach helps traders avoid unnecessary losses from random price fluctuations.

💡Overtrading

Overtrading refers to placing too many trades within a short period, often driven by emotional responses or a desire for quick profits. The video advises against overtrading, as it increases the likelihood of losses. The speaker suggests focusing on high-quality trades rather than frequently entering and exiting the market, which can lead to losing money.

💡Market Structure

Market structure refers to the behavior and pattern of price movements in a market, including trending, consolidating, and reversing phases. Understanding market structure is essential for making informed trading decisions. The speaker emphasizes that traders must recognize when the market is trending, ranging, or reversing to increase the accuracy of their trades.

💡Break-Even Stops

A break-even stop is a stop-loss order placed at a level where a trade neither gains nor loses money. The speaker advises using break-even stops to protect capital once a trade moves in a favorable direction. This risk management strategy is crucial for minimizing losses and preserving gains in volatile markets.

💡Scalping Strategy

A scalping strategy involves making many small trades to profit from minor price movements. The video mentions that successful scalping requires a well-tested strategy. The speaker discusses using a proven scalping strategy that helped them achieve significant profits and stresses the importance of testing strategies on demo accounts before applying them in live trading.

💡Emotional Trading

Emotional trading occurs when traders make decisions based on fear, greed, or other emotions rather than logic and strategy. The video warns against emotional trading, such as closing trades prematurely due to fear of losses or revenge trading after a loss. The speaker advocates for following a structured plan and avoiding emotional reactions to market fluctuations.

💡Start Small

Starting small refers to beginning with smaller trade sizes to minimize risk while learning or testing a strategy. The speaker advises traders to manage their expectations and avoid trying to make large profits too quickly. By starting small, traders can gain experience and confidence without exposing themselves to large losses, which is particularly important for beginners.

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