/biz/ - Business & Finance

>>55759445
Im tired of being rugpulled and seeing my calls and puts go to shit can I at least learn how to trade and make money consistently with this? I tried studying with a mentorship group but those fuckers charged me 50 bucks a month and only traded like degenerates.

>>55759445
>you will learn to trade with this
Just guru kikery nonsense. Heard about him on fintwit, if his concepts are so amazing and infallible why is he telling us about it? You don't share you trading secrets for free. What happens when the markets change and his concepts don't work for shit?

>>55759516
Crab in a bucket

>>55759445
this guy is a proven scammer. he completely faked his profits

>>55759501
You will at least learn to see the market more clearly if you take your time to study his Youtube playlist content. Watch 2022 Mentorship and Market Maker Primer. That will take a month or 2 of studying because they're long playlists and you have to sit there and listen to him ranting (he rants a lot for good reason but it can be annoying at times truth be told)
>>55759516
He's telling you and everyone about it because he wants the clout for his concepts. It's his life's work and he wants to help people. There's nothing to shill about him aside from his Youtube channel I suppose. He has no mentorship groups, no subscriptions for his proprietary trading models, nor does he shill or promote anything. It's up to you to decide if it's worthwhile since all his stuff is free and all you need to do is study like you're in college.
>What happens when the markets change and his concepts don't work for shit?
That's a common question. Essentially his concepts will always work because they are based on the principle of how institutions trade and raid the markets for liquidity. You are piggybacking off the smart money or big institutions in price action and you look for those signatures with ICT concepts. These institutions cannot hide price action and they trade with high frequency trading algos which will always leave *clues* behind for you to pick up on. Just to be clear, ICT models are NOT how institutions trade. It's a collection of models for the smaller traders to use to follow the direction of smart money.

>>55759549
Wrong. He doesn't use MT4 anymore (which is where the majority of the criticism came from since MT4 can be fudged). He uses TradingView for this exact reason. He literally posts videos of his trading ideas and executions all the time on his Twitter and Youtube.

Keep in mind, Michael has a couple of haters who just rip on him for clout (like the idiots in the Rizdom podcast).

>>55759552
>>55759559
fuck off michael with your scam.

I've been studying his 2022 mentorship, tried trading the NQ and got burnt yesterday. I was marking the fvg's and then around the early new York session price moved like crazy and I got stopped out. How can I even know the market will move like crazy?

If you can deal with his schizo ramblings, hes doesnt seem to be a bad teacher
He kinda gives weird names to concepts that already exist in other trading styles, but I think that just goes with his personality

>>55759604
as long as you never give this scammer 1 cent and only check the free stuff, why not, but you're wasting your time. all the course are available for free on googledrives but what he teaches is garbage. he built his entire reputation faking his profits with metatrader

>>55759599
>tried trading the NQ and got burnt yesterday
Please tell me you looked at the trading calendar... Friday was non-farm payroll. Those are one of the few days of the month (along with CPI and Fed meetings with JPow speaking) you're NOT supposed to trade because it's heavily rigged and price action will swing like crazy to take out any immediate sellside and buyside liquidity until NY lunch.
>>55759604
Most of his concepts are original to him. But truth be told I was initially confused about order blocks since he defines it much differently to what everyone else defines it as, it's its own thing really.

I guess there are a few unknown traders with ideas similar to his but I haven't studied them and have no interest to.

>>55759624
>you never give this scammer 1 cent and only check the free stuff
Why are you sperging out about this considering he doesn't shill or promote anything? "Only check out the free stuff" - all his shit is literally free. Not once does he ever say "Subscribe to my mentorship if you want the full details" at the end of his videos.

>>55759633
Oh fuck we aren't supposed to trade yesterday? What is non farm payroll? I am like 10 episodes into the 2022 mentorship.

>>55759655
>What is non farm payroll?
It's important economic data for the number of U.S workers minus those who work in farms. On days like that, the market will swing wildly on both sides and it often takes a day or 2 before the market moves in a general direction instead of "crabbing"

Go to forex factory and look at the calendar. Basically, any event highlighted in red like CPI or NFP should be avoided when you're new because they are very volatile days that are rigged.

>10 episodes into the 2022 mentorship.
Why would you even think about trading when you're not even done with the 2022 Mentorship Model playlist? Go finish the 40 episodes. I hope you were paper trading.

Hahhahahaa a fucking ICT thread - pic related. I have wayyyyyyy more if anyone wants it.

His shit is just rehashed Wyckoff/Chris Lori/Linda Raschke stuff with some trench coat secret inner circle persona on top of it which attracts either 12 years old or genuine adult retards.

Reminder ICT has blown out multiple accounts as shown on babypips, as shown in the Robbins cup, and as shown in the pictured attached here.
Reminder ICT has never live streamed for any consistent period of time, has never shown any consistent legit profits and never even shows fucking losing trades (how much of a red flag is a never losing trader?) in his beautiful hindsight Tradingview 'trading'. What this fucker does is load multiple demo accounts, go long on one go short on the other, then release the video of the one which makes a profit.

Not a single profitable ICT trader exists - I don't mean profitable for a month (you can go profitable for a month flipping a fucking coin), but profitable for multiple years.

Whenever a trader mentions fair value gaps, order blocks, buyside/sellside liquidity (terms that actually make no sense since he confuses limit buy/sell orders, i.e. he calls buyside liquidity the location where there would be limit sells, so it would be sellside liquidity) - RUN THE FUCK AWAY.

https://tradingriot.com/smart-money-concepts-ict/

>>55759871
Fuck, I now even remember something from babypips: ICT claimed he would show live consistens updates of his trading. Then he fucking blew his account (as usual).
His response?:
>I did it on purpose to show how you shouldn't do it
And there were people who fucking ate it

>>55759445
>Many of ICT students have become wealthy with his concepts
Where are those many students other than in your imagination? And no, passing a funding challenge isn't quite 'becoming wealthy'. Making consistent high $ profits is on a live account is.

>>55759871
This is also a personal favourite btw, a fake withdrawal. Since when are withdrawals a positive number on a balance sheet?

I will seize posting now unless there's something to reply to, because my 4 replies in a row make me appear as a schizo, which is highly ironic given the subject matter

>>55759871
>>55759887
>>55759893
>>55759921
All of this is wrong and fabricated and has been proven to be wrong so many times, it's not worth discussing. I'm not interested in fin gurus seething over Michael.
>tradingriot
What's even more interesting is that you cite a Pahjeet who is selling you his courses for 200, 500 dollars and swears by volume profiles, a broken and idiotic indicator. On top of that he confuses SMC with ICT (I already told you that SMC is a watered down fin guru version of ICT sprinkled with trash like 20R risk-reward, which Michael himself doesn't even use since it's so idiotic.)

i.e there's nothing to discuss here. You're interested in discrediting Michael with nonsense retail shit that's laughable and I just want to talk about ICT models. Michael posts all the time on twitter, livestreams and all. Anyone can follow his results and outline in real time, there's nothing to hide from him.