Nick Shawn may very well have made millions off his strategy. Not every youtuber is bad just because they want multiple streams of income. I could probably think of at least three very respected youtubers that run trading channels where they have side hustles related to their social media presence as a trader. and they don't apologize for it. Viewers expect that in this day and time I guess! Doesn't mean they're not a dedicated trader it just means they have a bigger picture in mind of the overall situation of their life maybe i don't know... you too!
if his "close friends" program is $250 per month just imagine how much it costs to get into the lifetime program: https://missionfx.us/p/full they don't even state a price. you have to APPLY! my guess is it would be at least $5000 probably more.
someone isn't going to be living in a nice apartment like that unless they have some real cash in the bank. i wonder if he owns or rents...because to buy something like that it looks like a big place on a high floor. must cost at least $1 million to own.
so he made $18,000 off a $50,000 account in 2 weeks. he just threw 50 grand into a bucket shop I guess. i'm not sure too many bucket shops would be too happy making such a large payout though. i think that's the main issue with his whole strategy is he has to trade with unregulated brokers. unregulated brokers can just not pay you and there's nothing you can do about it. amazed that he doesn't seem to mention any issues at all about making withdrawals.
1) Yes, previous support zones on higher time frames are powerful and should be places where you could go long, especially if overall trend is up. 2) So I would assume if price breaks below the zone, you would start to take the opposite position in another account to hedge your risk against trend change. If this is a false break down, and price starts to go back up above the support zone, you could start closing out your hedge positions in the other account. 3) If it is a full trend change for example price continues to go down, you would just close all positions and take a loss. Yes, this is a real strategy that pros do use. I use a break out strategy that takes advantage of those that use this approach. Both strategies work if you use proper risk management.
Well, I don't think bucket shops have to pay real money on sim accounts. LOL. In real life, bucket shops create fake spikes to take out stop losses, so using a hedging strategy instead of hard stops might actually be better or you could not hedge and use a real broker.
so you don't believe he is legit then. because he already said he uses a basket of unregulated brokers, aka bucket shops. it must be alot of them because if it was only 2 or 3 then they would be pissed off about having to cut him paychecks in the tens of thousands of dollars every month or however often he opens another $50,000 account. i figure he must have at least 10 or 15 of them and each one of them thinks he is a losing forex trader...and he must always be on the lookout for new bucket shops to take advantage of while at the same time they are thinking they will be taking advantage of him. a never ending game. pros don't (shouldn't?) put their money into bucket shops though. but maybe they use support and resistance. you could own a nice condo in the sky for under 1 million USD. it might not be quite as big as his but keep in mind the monthly dues might be a thousand dollars
nick shawn made $200,000 trading in one month. alot of traders wish they could just be profitable and yet he is raking in tons of cash and still has time to make youtube videos. amazing. i wonder if he even knows about elitetrader.