Please be careful with traders who.... - page 6.

lionheart78

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Quote from: mcrey11 on April 25, 2019, 09:33:12 PM

I'd like to hear from you about what i have found out.
In our place they open a company who will accept investments which they guaranteed 400% interest for 1 month. I have found out that they do crypto trading. Is this usual to identify them as a scam?

It is just a ponzi scheme, a few people that I known came to my house offering their marketing plan. Worse, they used the name of Bitcoin in it. They were so excited about sharing the opportunity they found, they even calculate my earnings of $100K in just a year for a $1k investment. I just keep quiet and rejected their offer. There is no need to argue because I feel they were engulfed by the greed triggered by that investment scam.

I agree with OP, traders won't bother teaching people unless they get more on it than trading on the market. I always suspect that those who pretend to be a trading guru and ask for payment are losers in trading. If they were successful then there is no need for them to get paid while sharing their knowledge.

Idrisu

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Quote from: harizen on April 25, 2019, 12:25:26 PM

"Please be careful with traders who run private groups, do phone consultations, and sell courses.

Most successful traders are too busy trading, they don't have time to teach.

It would be a distraction."

Saw this tweet just now.

Worth to share to those trading newbies who wants to rely on paid advisors.

Will not go deeper. Hope you got the picture.

(P.S. Credits goes to @BTC_M****. Decided not share the source link as I don't want to promote his Twitter account as owner's other tweets might influence newbies perspectives. But it's quiet easy to search.)

That is the truth! Were do we have time to began to do consultant as traders. If you do want to be an expert there is a lot of things you are to learn and you really need to developed yourself . Many people claim to be an expert are not even traders.

LogitechMouse

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I don't think they have the time to teach other beginners out there since they are busy trading. One more, if I'm a successful trader I will not share all of my knowledge to a beginner because there will be a time that he will compete with me and worse he will be better than me.

I'm not active on twitter so I don't see the tweet Cheesy

but I agree with what you said. "Most successful traders are too busy trading, they don't have time to teach. "

emmybd

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There are many private paid signal groups, they have got free and paid version. Some of them have got very high monthly subscription. I haven't heard that many people have benefited from these groups. I have joined one of them, but the signals they provide are not up to date.

LimLims

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Quote from: harizen on April 25, 2019, 12:25:26 PM

"Please be careful with traders who run private groups, do phone consultations, and sell courses.

Most successful traders are too busy trading, they don't have time to teach.

It would be a distraction."

Saw this tweet just now.

Worth to share to those trading newbies who wants to rely on paid advisors.

Will not go deeper. Hope you got the picture.

(P.S. Credits goes to @BTC_M****. Decided not share the source link as I don't want to promote his Twitter account as owner's other tweets might influence newbies perspectives. But it's quiet easy to search.)

Thank you dude, for this warning at first and yes i am completely agree with you.
The people you refereed above are known as scammers, i mean they literally scam people for just a small amount of money.
I also want to warn everyone reading this , that dont fall into this ponzi schemes.
It's your money so which where you want to invest and yield the profit.
And i am sure you gonna make a huge profit.

Caladonian

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Quote from: Lakai01 on April 25, 2019, 11:55:31 PM

Quote from: mcrey11 on April 25, 2019, 09:33:12 PM

I'd like to hear from you about what i have found out.
In our place they open a company who will accept investments which they guaranteed 400% interest for 1 month. I have found out that they do crypto trading. Is this usual to identify them as a scam?

If they are THAT good to get 400% return with any investment they wont sell their strategy and simply get painfull rich in no time. So yes, definitly a scam attempt were you will definitly lose your money.

An HYIP system where attracting investors to continue the cycle of their business, afterwards when no one believes them they will easily to have an exit strategy and scam most of those investors who participated with this scheme, it's always best to do your own research and study the business, never entrust your money to anyone, it's your obligation to take care of your investment.

Moving back to this thread, we really need to take a bunch of care joining or following those traders who shared their ways of trading, this business is not an easy access to richness, you have to increase your confidence making your own assessment and calling your position, a long learning process that's full of struggles, trust yourself and that's your capital.

Lakai01

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Quote from: mcrey11 on April 25, 2019, 09:33:12 PM

I'd like to hear from you about what i have found out.
In our place they open a company who will accept investments which they guaranteed 400% interest for 1 month. I have found out that they do crypto trading. Is this usual to identify them as a scam?

If they are THAT good to get 400% return with any investment they wont sell their strategy and simply get painfull rich in no time. So yes, definitly a scam attempt were you will definitly lose your money.

TravelMug

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Quote from: mcrey11 on April 25, 2019, 09:33:12 PM

I'd like to hear from you about what i have found out.
In our place they open a company who will accept investments which they guaranteed 400% interest for 1 month. I have found out that they do crypto trading. Is this usual to identify them as a scam?

It's called HYIP/Ponzi scheme so definitely it is a scam. Don't even bother to put even a penny otherwise you will just lose everything in the end.

Yes, I think that successful traders do their hard work and lots of ups and downs in their trading career so it doesn't makes any sense to just offer them to others to make profits. Maybe we can call them selfish, but we can't blame them because they have sort of 'perfected' their trading skills and will not bother to spill out their secret success.

Capt00

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Quote from: leowonderful on April 25, 2019, 07:53:19 PM

The only way you're ever going to come up with a truly fruitful strategy in trading is by yourself in the end. No sane person would sell or give away a solid, working strategy for cheap when that person can make the strategy work for him/herself. This is where there's both luck and skill involved- it might take you months to make a good working strategy, but when it works you'll be reaping the rewards. In the meantime, learning more about trading and experimenting with potentially good strategies should keep you occupied. There are no shortcuts in life, and trading's no exception.

That is the best thing here don't rely on others work or waiting for others prediction just having dump and dump strategy, you can work by your own having a serious searching which better coins to pick by your own and to improve your fundamental skills in trading. The most get profited is the founder of pump and dump group which give a delay signal that might you become lost profit. However, if you are having good skills in trading you can use that kind of people as a reference only.

creeps

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Quote from: mcrey11 on April 25, 2019, 09:33:12 PM

I'd like to hear from you about what i have found out.
In our place they open a company who will accept investments which they guaranteed 400% interest for 1 month. I have found out that they do crypto trading. Is this usual to identify them as a scam?

In my experience yes, because those who promise a 400% return in just a short period of time is totally too good to be true so be careful. OP it looks like a signal group where they encourage newbies to join with them and scam them later on, phone calls is very rare form of scam. If you want to help newbies on trading or anyone then try not to ask for money or teach them how to use indicators and not how to listen to your signal.

mcrey11

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I'd like to hear from you about what i have found out.
In our place they open a company who will accept investments which they guaranteed 400% interest for 1 month. I have found out that they do crypto trading. Is this usual to identify them as a scam?

leowonderful

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Bitcoin FTW!

The only way you're ever going to come up with a truly fruitful strategy in trading is by yourself in the end. No sane person would sell or give away a solid, working strategy for cheap when that person can make the strategy work for him/herself. This is where there's both luck and skill involved- it might take you months to make a good working strategy, but when it works you'll be reaping the rewards. In the meantime, learning more about trading and experimenting with potentially good strategies should keep you occupied. There are no shortcuts in life, and trading's no exception.

Indrawan77

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I agree with this, I ever joined the paid channel of the group and I end up losing money and the group admin run away, in the end we only can rely on ourselves to trades, so be careful if you want to join this kind of channel, the result may be not as wonderful as it sound

The Sceptical Chymist

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Quote from: Lakai01 on April 25, 2019, 12:45:44 PM

Some of the "paid groups" hosters were convicted of dubious business last year, and not without reason. The only one who benefits from such groups is the hoster himself.

Doesn't surprise me, and you're right on the second part, IMO. If you're a trader with a successful strategy, it would seem to me that you would make a hell of a lot more actually carrying out that strategy than teaching it--and also if enough people adopt it, the opportunity would disappear. Sort of like arbitrage.

I'd stay away from paid trading lessons, but that's just my opinion and I don't have a lot of knowledge about them, just a healthy dose of skepticism. In a market like this, buy-and-hold works just fine. It's simple and should work for a while at least. No need for taking a class, nobody to pay, no endless staring at a computer screen hoping you're going to come out ahead.

DarkEagleMan

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I totally agree with this point, because it is incomprehensible to me that someone boasts of his alleged advanced knowledge as a trader and can not fully live on its benefits, but still have to sell courses and conferences to make a living. If a person with as little capital as I had the ability to live comfortably in trading for years, I do not see why these so-called masters can not do the same.

nydiacaskey01

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Quote from: harizen on April 25, 2019, 12:25:26 PM

"Please be careful with traders who run private groups, do phone consultations, and sell courses.

Most successful traders are too busy trading, they don't have time to teach.

It would be a distraction."

Saw this tweet just now.

Worth to share to those trading newbies who wants to rely on paid advisors.

Will not go deeper. Hope you got the picture.

(P.S. Credits goes to @BTC_M****. Decided not share the source link as I don't want to promote his Twitter account as owner's other tweets might influence newbies perspectives. But it's quiet easy to search.)

Twitter nowadays runs like Bitcointalk too. You might see or think that they have a lot of followers, there are interactions from another users saying that he is good and he is correct and how accurate his forecast was on this and on that but who knows if he is just talking to himself and just waiting for a newbie to take a bite and subscribe to what he is selling or promoting.

AmoreJaz

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Quote from: Kelvinid on April 25, 2019, 05:24:14 PM

Quote from: Bagaji on April 25, 2019, 04:50:24 PM

Most people who claimed they are guru in crypto currency trading that usually advertise themselves as experts asking people to pay for their trading services in mostbcases I refer to them as speculators who cannot practice what they preach in crypto currency trading.

They are absolutely be looking for a victim and its so sadd that there are some people have fall into their hands(mostly newbie).
Their thinking that it could help them better that to keep in reading, searching. But they are wrong of what they'll do, it is just a some kind of trick and it causes them to loss after.

this is the reason why i only trust myself when it comes to trading.
sure you can join in those groups, free or paid. but who really benefit from those groups? more then likely the owners of those channels . Roll Eyes

claiming to be a guru of crypto trading without portfolio to show is equivalent to a fraudulent individual to me. so up to the user if he still want to follow such person...

jazmuzika217

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Theres a lot of trading signal group in the telegram and discord this is common but I dont trust any signal group its better to learn in your self rather joining or trusting this kind of group. OP is right regarding those people who make money by this kind of group dont be a victim just make your own research to learn trading.

Kelvinid

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Quote from: Bagaji on April 25, 2019, 04:50:24 PM

Most people who claimed they are guru in crypto currency trading that usually advertise themselves as experts asking people to pay for their trading services in mostbcases I refer to them as speculators who cannot practice what they preach in crypto currency trading.

They are absolutely be looking for a victim and its so sadd that there are some people have fall into their hands(mostly newbie).
Their thinking that it could help them better that to keep in reading, searching. But they are wrong of what they'll do, it is just a some kind of trick and it causes them to loss after.

jhenfelipe

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Totally agree with what he said. Unfortunately, there are still people who believe on paid trading signals groups/courses, being swayed by fake results, offers, and promises. They'll just figure out later on that it's not always right and it doesn't guarantee profit.

For those who are still interested in joining paid trading groups: instead of paying in such group, I highly suggest that you use your crypto to buy a coin/token that you think is okay and trade. You will experience both gains and losses, but it will help you develop techniques and strategies on the way

Topic: Please be careful with traders who.... - page 6. (Read 12808 times)