I saw his video for the first time in 2020. At that time, I was still a novice just getting into trading. I felt that what he was saying was really professional, very philosophical, and quite profound. I thought he must be someone accomplished in trading. So, I began to study diligently.
What he talked about was indeed useful, especially the five steps of trend change, the top and bottom patterns, and his trend trading method. Just as he said, my method may not necessarily apply to you. I looked at many methods, absorbed their advantages one by one, and ultimately formed my own trading method. This is what I aimed to achieve. His insights on trends were quite enlightening for me, and I admired him even more. When he discussed Jesse Livermore in those six episodes, it greatly helped my investment philosophy. Of course, I didn't just watch his videos alone. After all, what he could provide me was indeed limited. I also looked at others, such as Yun Cong and Luo Sheng, as well as some channels sharing speculative strategies, to absorb knowledge beneficial to me. Knowledge points are like building blocks. They are those blocks, and ultimately, I want to use these blocks to build a model that belongs to me.
Recently, I saw a video claiming Lei is a scammer, so I roughly checked it out. He did make some valid points because I didn't have money to join his membership group, and I didn't know what was happening in his group. Inside, Lei expressed a viewpoint saying that if you follow me, you can earn money. If you invest with me, you can make money by following my selection of targets. It's quite funny, right? This is very similar to those copy trading groups where you pay money, and then I tell you where to buy, which is valuable, and where there are opportunities. You just follow my buys, and you can make money. I have also joined similar copy trading groups, which were very amusing. They claimed a 90% or 99% win rate, and you could achieve tenfold or hundredfold returns in a month. The win rates were extremely exaggerated. I joined, and the so-called win rates were just about widening the stop loss and narrowing the take profit to achieve the so-called high win rate strategy. If you think about it carefully, it's not hard to realize why he could help you make money. Couldn't he just make money himself? Why would he help a…. novice? Why would he help someone who knows nothing and wants to take advantage of his hard work? Why? Never believe in things that seem too good to be true.
Then there's Lei, who spoke too confidently and ended up getting slapped in the face.
There's a saying that goes well: You can make a living by studying trading, you can teach trading for a living, but that doesn't mean you can make a living by trading.
That said, why did I title this "Professional Scammer Trader Lei"? His videos often mention how a professional trader should be, blah blah blah, saying a lot. It seems he wants to paint a fixed framework for professional traders, that all traders should be like this, yet he himself cannot achieve stable profits, which is a bit amusing.
Knowing is easy, doing is hard.
Published
September 22, 2024
Category
Trading Insights
From
Bai E
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