Topic: mr.relax luring readers into risky trades (and therefore losing Sats) (Read 334 times)

How to identify an amateur in trading or someone who does not know how to trade with profit?

1. He calls himself a professional trader, although in fact he is a retail trader and does not understand the difference between these two professions.
2. A trader who sells courses, practices, strategies, signals and other rubbish. There is such a meme among the trading party: If you don’t know how to make money on trading, then start teaching people how to trade.

This! 
Income from gullible people booking these course is 100% guaranteed. While profits from TA are not. 
We have a website in Germany, where professional traders are publishing their TA and I'm always surprised, how aggressively their tutorials are advertised. Their returns from trading must be very bad.

Yes, and even a single one is difficult to predict, see recent giveaways.

In general, I would expect that a bet on rising BTC is more likely but that's based on Bitcoin's fundamental characteristics (Halving, limited supply, more adoption) and not on TA.
Still, some people think TA is reliable and suprisingly, all these professional traders are frequently offering tutorials / courses "How to become a succesful trader" and I don't know why these traders are not just trading, getting rich and buying a Lambo when they have the knowledge. 

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It's not a surprise.
Best proof: several 100 useless Altcoins (Shitcoins) with marketcaps of 100 million USD or more...

I know I have said it many times, but once more with. "You can't fix stupid"

If anyone follows financial advice from an anonymous message board, or a social media influencer, or anyone really without doing their own research they deserve to loose all their money. Much like some children don't believe the stove is hot and you should not touch it, and they have to burn themselves to learn. These people are the same way.

Perhaps a bit harsh, but there does reach the point when you just can't help people.

-Dave

Actually, you'll be surprised, but Romanian board is full of "tech savvy" users (/s). I am not sure if you are aware of bekli23's case, another illiterate (he was even more illiterate than andulolika or hacker-millions-of-zeroes-and-ones), which claimed he can decrypt any Bitcoin wallet. As you can see in the second post of this linked topic, bekli later said that he even moved those unmovable 50 BTC from Bitcoin's genesis block (however, for some reasons, he "moved the funds offline", whatever he meant by that). Later on, he created even a topic where he tried to convince mocacinno that he can obtain the private keys of all BTC addresses.

While mocacinno was somehow reluctant, NeuroticFish was more supportive, though

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You must be right! Now I realize why bekli was also so illiterate. Not to mention, andulolika, hacker01100101011010100101010010101 and some other remarkable figures here.


Looool! I think they both are. They quit the forum since then, probably they are in Bora-Bora now, enjoying a luxury life.

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True, but this does not mean he won't do it in the future. However, for the moment I changed my feedback into neutral.

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Don't forget also the combination between these two, like 🏰 TradeFortress 🏰.

He deserves a nobel price for creating a tool to lift the whole world out of poverty. 
Just leverage x10 a few times (maybe 5 times), since it's NO RISK and after all there's always a profit we can rake in.
It's a pity that nobody had this idea before him.

Maybe he spent the whole time building the tool, doing nothing else and therefore, he's so illiterate.

How's he doing, already billionaire?

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Since I'm always trying to solve such issues with exposing the fallacies (and hoping that maybe some sort of review process starts from their side), getting a separate topic in Reputation requires extraordinary written bullshit.
But pushing the same bullshit day after day, again and again, while the strategy is getting more insane everyday, because he has no arguments left for his misleading "TA shill show" is crossing the line.

The same wrong statements were already exposed by qwk way sooner and still, mr.relax is repeating his same, disproven claims from that post some days later. You really can't make that up. 
Feel free to translate the whole story, it's so tiresome...

Some time ago, I've even created a Meme about trade risks to expose his fallacies:


 

While scrolling, I've found that bullshit from him, where he was implicating that Hodling is similar to a pyramid scheme (German: Schneeballsystem).
What? 

I'm always hoping to initiate some sort of review-process but very often, time for betterment is wasted, indeed. 

He isn't offering a service or similar, that's why I've left a neutral feedback with a detailed explanation about his misleading statements. It's dangerous for Newbies to believe his repeatedly posted claims about trading.
While his claims are wrong and misleading, he didn't scam anyone so far.

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Yeah, but the list would be very boring because members on such a list would be:
- scammers (like pirateat40)
or
- early adopters (VIP / Donator status).

But we could also inlcude wannabe billionaires. We have plenty of them. 

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No billionaires from technical analysis (TA):


https://xkcd.com/2101/

And some bezos bozos pretend to be billionaires. 

We also had a similar idiot in Romanian section - bramy - which, at first, said he is a girl, to be proven afterwards he was a guy. The idiot also tried to persuade people that he has a magic get-rich scheme (How I make money with USDT , NO RISK). He was trying to show how to get rich with no risk, can you imagine such generosity? He even spelled with capital letters, to emphasize what a great deal he offers. He also wrote a topic inside Romanian board but I quickly silenced him. And I did it in the English topic as well. He was also highly illiterate so you had all reasons to trust such a guy (/s).

As far as I see, this mr.relax is same type. I think that 1miau was too gentle, by not giving this guy a negative feedback. I did it though, as I believe that anybody trading with this person is at high risk of being scammed.

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I believe that we are surrounded by so many people who got rich from such schemes. Perhaps xtraelv should change his signature too? Instead of "We are surrounded by legends on this forum. Phenomenal successes and catastrophic failures. Then there are the scams. This forum is a digital museum." maybe he could add "We are surrounded by legends and billionaires who got rich quickly on this forum. [...]".

(xtraelv, if you read this, I hope you get my humor.)

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There are no billionaires? Oh no... But I thought they are... Now I am confused

Wow, can I skip these?  
There's so much off-site advertising for different unproven strategies (also ICO's, fraudulent hosted / cloud mining) and of course pump and dump but since it's off-site, I'm skipping these.    

There are many more, yes.
But they are not active on this forum, especially not in the German section, where such statements (repeated, again and again) have a very good visibility.

You need to collect all pump and dump telegram channel owners, all those YouTube chart annalist, blogs about technical analysis including everyone and make a long list about their reputation. Have you ever seen any of these guru to market the trade that was failed? They always market the ones that won. It's their marketing technique. And I doubt any of those traders actually make money from their trading. Increasing followers, making a name for them is their business. It eventually help them to earn their revenue buy selling advertising, BS course they make, BS PDF they make etc.

If I have good winning rate and am able to make constant money from my trades then why don't I compound my money from it without letting the the world to know my secret. Why would I spend few days to produce a video, hire a team, invest money to build up a channel or a community in any platform? There are no secret. If there are any secret then it's the product they are selling. Other day I reached out to a YouTube channel for a 30 second video promotion and their demand was $25k for it LOL. They make you feel they are angels in the crypto industry but they are just looking after their own pocket. Tomorrow when something else which is more lucrative then Crypto they will just dive into there.

Anyway, I do not think mr.relax is doing something wrong. He is promoting a business idea that he has so that he can benefit from it. May be you are overlooking his idea.  

Trading with statements by any technical analysis guru who have massive followers in YouTube and other social media or selling the analysis with a price should be taken with caution. It's not just him but all.

Disclaimer: this topic serves as a reference for my neutral feedback on mr.relax, since trust ratings have limited space

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In the German section, mr.relax has pushed multiple times the wrong claim, that "trading by technical analysis is a reliable source of income (if done "right")".

His strategy to "prove" his claim, is to make multiple, often contradicting predictions multiple times a week and after one of them is happening, he's pointing out that he was right and technical analysis would be a working "strategy".
Here's an example for this:

On September 8, he made a prediction that it's a general trend to trade the Merge (from Ethereum) to increase sats while prices should increase due to the merge and the fork (I don't disagree here but it's still highly risky. He then continued, that his technical analysis is suggesting that it's a good idea to speculate to sell ETH for BTC short-term.
The price of ETH compared to BTC than dropped for the next day.  
After being right for this prediction (he's making multiple predictions every week) he pointed out afterwards, on September 9, after BTC gained compared to ETH that he was right about this signal and therefore, (his misleading conclusion) that technical analysis would be a reliable way to be better than HODL.
We all know that his prediction was pure luck and by picking that one afterwards, he's brazenly misleading readers, especially Newbies.

And another example from his misleading strategy by making multiple, contradicting predictions (translated):




The problem of mr.relax' predictions is not the prediction itself (that's completely fine), but that he's saying, technical analysis is a "reliable way" of increasing profit. He's pushing this nonsense claims every day.
The problem of his "trading shilling" is that he doesn't reflect on his wrong claims about trading and his misleading way of presenting how he was "right" an therefore pointing out that technical analysis is "proven".



That's just a wrong statement and highly misleading to Newbies because technical analysis of the charts is pseudo-science:



While most people know that trading is high risk because (not) surprisingly, there are no billionaires from technical analysis or there are no bots which can trade reliably according to technical analysis, mr.relax is still insisting on it.

After being called out on this, he's now attacking me personally because I have called out his strategy as presented above.  


The claims of mr.relax are openly misleading to Newbies and luring them into risky trades.
Therefore, I have sent a neutral feedback to mr.relax to make aware of this fact.
Please take the statements about trading from mr.relax with caution!