Topic: The Illusion of Trading Success - page 3. (Read 1246 times)

Influencers make their life out of their fame, if they lose their popularity then there is no more opportunity for them that is why we often see them saying something even if it is just BS to keep them in the spotlight and media influence always attracts people irrespective of good or bad things going around them.

Some stories can be true but it just happens cause they were at the right spot at right time or we can call it as pure luck.

Successful traders are careful about whom to tell and share their stories with, and they seldom show up in public saying they are good traders as they prefer to remain anonymous despite their great achievements. And yes, those illusionists and fake traders have big mouths talking here and there, yet they achieve nothing aside from popularity. That is why I don't admire people who keep proud of themselves because I know that trading is not an easy game but these influencers saying the opposite about it.
Some people say that not all the things and success stories we hear on social media are true, most of them are scripted.

Yes it is true that those content creators who do the promotion do not force the audience to get involved in the world of trading or get involved in the broker they are promoting, but I think that is the scenario of promotion where they do not force people to join and get involved but on the other hand they show something that looks very tempting like "trading can make you rich" and obviously with this idea alone most people might quickly make the decision to get involved in the world of trading promoted by the content creators.

On the other hand to say that they are a fraud may be too harsh words but yes in the end there is still a little element of deception where they content creators usually only promote or show something that looks tempting but does not include the risk that can never be fully tolerated where people who see it and who feel attracted they will put too much hope that in the end makes them surprised when the actual facts in trading especially when experiencing dominating losses.

I agree with the part that we all have a different way of learning and even we have different amount of time required to learn something. Let me show an example from myself without hurting anyone else, lets say I am some stupid person, and it takes me 9 months and a lot of different ways, like videos from many people, many written things, and a lot of podcasts etc etc, and I barely learn how to trade, whereas what if there is a person out there who watches a few videos from single person and becomes a great trader that way?

I think that's the most important part and I believe that will benefit everyone. This isn't always that radical and big difference, person to person difference could be tiny, but in the end we all have different ways to approach this situation in the end.

Well said.

I have read most of the comments only to find out that most of the commenter know nothing just want to contribute with empty context. Am not doubting that some are scammers but for us to generalise it shows how dumb we are. If you ain't profitable yet, doesn't mean others aren't,  there are many possibilities in trading, you all watch the podcast, learn from them, but still talk trash about them.

Alright, why do you all trade,don't you have profitable friends, common we are more than this if they are faking it, it can be real too. Of course,  they offer value.
Let's stop this judgement, encourage ourselves and push on not comparing and giving opinions of others success, it just an antidote most of you are using to sustain your reason why you are unprofitable.
Learn.
They keep making money, you keep making comments.

Yes, that's people nowadays, they are easily tempted by whatever they see, especially when it comes to money and usually they don't like having to go to the trouble of learning by themselves and creating their own knowledge to equip them to start trading or investing, they just want something straight away. instant and the only way that they think is very easy and simple is by following paid signals provided by groups that actually they don't really know about the truth of these signals and they also don't know whether these signals can really produce profits according to whether promised or not, ultimately in some cases more of them are caught in fraud and lose money.

On the other hand, I don't know the reason why it is so easy for them to put their trust, but one thing I believe here is that the urge to get rich quickly and instantly is in their minds, even though it is clear that success or success can never be achieved by means of depend on other people, even though yes maybe these signals are useful occasionally to gain profits but if for example they don't know the knowledge at all then clearly this situation will not last in the long term, the other thing is yes I also agree with you that now I really I don't believe in signals anymore, at first I was quite confident, but after I lost quite a large amount of money by following these signals, that's when I really felt traumatized and preferred to learn everything myself from the start, gradually.

Of course, they don’t force people to believe on them so they won’t totally fall as scammers. They are just doing their own job trying to educate these people around that get interested to trading, although it comes also with their personal interest to increase their views and get high compensation. But I really do agree that it’s very improper to call them as scammers, maybe the term “influencers” is probably what’s best suit for them.

Thank you for bringing this discussion up, I myself have once thought about this and it makes no sense if I have no proof to backup my claims, so I just let them be as a thought and not actually happening in real sense. Sure the social media lifestyle is fake and for the real ones, you can’t easily differentiate them online.


My thought about this was that if they are that good at trading and can make any money they wish to have on trading, why would they come out to stress themselves to teach people on how to trade? If they really want to help, they can offer this skills for free or even share the money by giving some quiz or take it to an orphanage home. There’s more to this because I feel they’re really hiding many things from the public that are willing to learn from them.


Trading is just sideways, sometimes you win and sometimes you lose. The best part of it is that you understand the basics and when you do, you can earn more profits than losses but without proper risk management, you can lose all of your profits in one day. Trading is hard but I still believe there are some few traders that are genuine but most of them are not and depend on those streams and audience they build on social media.


Many are scammers while few are legit. Just filter them out.

Another factor is the use of the promotions its easy now to make a content into different platforms and share those stories in a form of text, post or videos to gain more popularity and not all the people are knowledgeable with the crypto or the trading itself so if those content creators earning a lot of money why not me those are the questions they as always problem and reason why they want to join in trading because they see an instant money.


If you have time to analyze, understand or make an investment with knowledge why not take a risk of it than taking courses which the same you can get in the internet, well possible we have different learning phases but think twice if its realty worth it?, i don't trust these signals after i learned about trading. As possible stay away with these things could be lead to scams.

beginners should be aware of the difficulties of trading from the first time they try to trade. difficulty choosing assets, difficulty opening positions, and even difficulty determining targets.
most beginners just lie to themselves that they were just unlucky in their initial trading. they think they just need to try more. whether starting from watching or following influencer videos or getting support from friends. Trading is only intended for professionals.

This forum really opened my eyes to the naked truth that crypto trading is hard, because before then when I was hearing about trading from social media sites, it always gave me the impression that it's an easy way to earn money and become rich. In as much as there's an element of truth in this, the bigger truth is that crypto trading is risky and that's the fact, so no matter how it's sugarcoated like it's a short cut to riches, there's much loses in it and no matter how experienced and professional a trader is, they still experience loses. Trading should not be relyed on as an only source of income and traders, especially newbies should trade with the amount that they can afford to loose.

That's true, but that's not the reason they can't be successful in trading. They're just not proper traders, that's all.

And something I keep repeating throughout the forum all the time every year is that most people aren't built for trading. Big majority of people lose money, that's a fact. And even among proper traders, over time, big majority lose money.

So these influencers are making money from other streams, be it affiliate or commissions, or simply selling their teaching product.

Trust me even if they are whales it's not gonna make them more successful AT trading.

Whales move the market, someone's tiny dust can't change the Bitcoin's price and the rule of profitable trading is simple, buy low, sell high. Technically this is what those social media stars sell, this simple combination of words - "buy low, sell high". Those influencers are not whales, so they can't be successful in trading. They don't make their living from trading, they use trading to give you the show that will help them to sell their product. They make money from selling their courses, trading is like gambling for them, sometimes they profit, and sometimes they lose.

Your post is right and a good read for many people who fall into their scam. I hope many people will understand that when someone helps you to make money, they are the ones who are making the money and not you, so this help is fake.

Well, you can’t stop these people from doing their stuffs since they are seeing this as their own job. If they are making decent income from it, then there’s no reason that they will miss that opportunity simply because they weren’t successful traders in real life. We should not only put the blame on them, but for beginner traders, they should be responsible also to invest on their knowledge first and learn to filter whatever they heard from those social media influencers. If they can do that, it will be less likely for them to get scammed because they are also cautious towards their decision making with trading.

That is the issue here, many of those that watch those people giving all kind of advice online, never really take the time to test if what they are being told is the truth, and the only way to do this is to sit down, grab a few sheets of paper, a pencil and start to paper trade the previous movements of the market and see if they are right.

And if someone did this, they will realize really quickly that what they have been told were lies or at best some misguided advice from someone that really does not know what they are doing.

One thing I know is that their is no expert in trading. One of the mistake beginners expecially makes is having the mindset that the trading counselors on social media are expert. Many are not even successful traders but most traders so much rely on them  believing watching their videos can make trading go smoothly immediately. Like they always say no knowledge is a waste, traders can still grab the few things that are correct while watching videos on social media  but they shouldn't rely on it so much. After watching every video I think it is important to make research to be sure if every information are correct.  

Successful traders don't only dwell on information from people,  instead their own personal research makes one to be a better trader

And nowadays unfortunately there are more people like that. Because basically sharing theories about trading is very easy compared to trading itself. I have even read a lot of trading materials to increase my knowledge in trading. But in the end, experience in the field is much more valuable. Because sometimes the theory in the field is not always the same as the theory explained in the book.

That's why I mostly avoid influencers. Because I realize that I am sometimes easily influenced. But I currently prefer to focus on my own development. But I think the people who give learning classes for beginners in trading are also quite helpful. But we as people who want to learn should not be too fixated on the theories they put forward. Because everyone's experience in the field is sometimes different. And produce a different understanding.

Therefore, knowledge is needed to test the level of effectiveness and everything someone says should not be followed. Trade and learn to do your best. It's okay to use other people's methods, but we also have to test. Practicing trading skills can be done easily but is a little more difficult when practiced directly in trading.

If you don't like it then leave them and don't need to follow anything they share on social media. The issue of whether someone is successful or not in trading depends on how they practice their skills and perhaps relying on other people is not always appropriate because we have to learn to understand our own analysis to achieve a level of success.

And trading in general, once you thought you already figured it out. Tendencies are you actually don't. Market is constantly changing and you should continually learn from it. So success of mastering the market is an illusion.

You only master you trading system which will give you a positive result over time in a series of trades.  Too bad that some creates a fake profile and fraud people for image and personal gains. Trading doesn't work like that. Only who deserves and works hard makes money out of this consistently.

You nailed it OP. This is really true these days, some also use fake screenshots or fake profits from their trading just to gain popularity and some will use it to take advantage of people just to make money on them.
Especially right now, social media is already everywhere and accessible to many, they can now easily lure people.