The Illusion of Trading Success - page 3.

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Quote from: GreatArkansas on April 23, 2024, 10:58:55 AM

Quote from: Alphakilo on April 18, 2024, 07:12:56 AM

Many are teachers only few are traders. They make their money from selling trading courses, teaching trading classes, creating trading contents for YouTube and other social media. They have their own trading podcasts and collaborate with people like them to talk about trading yet, they have never been successful at trading.
(...)

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.

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.

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Quote from: Rockstarguy on April 24, 2024, 10:05:42 AM

Quote from: Alphakilo on April 18, 2024, 07:12:56 AM

Many are teachers only few are traders. They make their money from selling trading courses, teaching trading classes, creating trading contents for YouTube and other social media. They have their own trading podcasts and collaborate with people like them to talk about trading yet, they have never been successful at trading.

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

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.

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Quote from: Alphakilo on April 18, 2024, 07:12:56 AM

Many are teachers only few are traders. They make their money from selling trading courses, teaching trading classes, creating trading contents for YouTube and other social media. They have their own trading podcasts and collaborate with people like them to talk about trading yet, they have never been successful at trading.

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

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Quote from: Alphakilo on April 18, 2024, 07:12:56 AM

Many are teachers only few are traders. They make their money from selling trading courses, teaching trading classes, creating trading contents for YouTube and other social media. They have their own trading podcasts and collaborate with people like them to talk about trading yet, they have never been successful at trading.

You'll see them on Instagram or WhatsApp posting many signals, doing adverts for their VIP exclusive signal groups. Their appearance of wealth has nothing to do with their profits from trading and trading performance but from their courses sold and YouTube ads.

You ask yourself why don't they stop all these bs and just go back to real trading and you will immediately answer yourself that trading is hard work. It is easier to make reliable income streams from acting like a trader than actually in active trading where the market is volatile. It is easier to build a personal brand and audience in the short term than it is for achieving trading profits.

I do not like these people because, to me they are scammers. I have never seen anyone who follow them that eventually became a successful 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.

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Quote from: Alphakilo on April 18, 2024, 07:12:56 AM

You'll see them on Instagram or WhatsApp posting many signals, doing adverts for their VIP exclusive signal groups. Their appearance of wealth has nothing to do with their profits from trading and trading performance but from their courses sold and YouTube ads.

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.

Quote from: Alphakilo on April 18, 2024, 07:12:56 AM

I do not like these people because, to me they are scammers. I have never seen anyone who follow them that eventually became a successful trader.

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.

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Quote from: GreatArkansas on April 23, 2024, 10:58:55 AM

Quote from: Alphakilo on April 18, 2024, 07:12:56 AM

Many are teachers only few are traders. They make their money from selling trading courses, teaching trading classes, creating trading contents for YouTube and other social media. They have their own trading podcasts and collaborate with people like them to talk about trading yet, they have never been successful at trading.
(...)

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.

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.

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Quote from: Alphakilo on April 18, 2024, 07:12:56 AM

Many are teachers only few are traders. They make their money from selling trading courses, teaching trading classes, creating trading contents for YouTube and other social media. They have their own trading podcasts and collaborate with people like them to talk about trading yet, they have never been successful at trading.
(...)

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.

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Quote from: alastantiger on April 19, 2024, 03:29:54 PM

Those traders who you have highlighted are not scammers. It is not right to call them that. They have been able to build reputation, gathered the right audience through engaging content, built trust through consistent value delivery, and converting viewers into buyers and mentees. They are the metaphorical shovel sellers in the quote in a gold rush do not dig for gold, sell shovels. The monies they accumulate from the courses, their YouTube channels may now go into placing higher traders although they do not tell us the outcome, it is just what I am speculating.

They don't deserve to be called like that but now, it is too hard to know who is telling the truth and who are scammers because as we observed, scammers are smart, they will make you believe in them due to their promising words. That is why I don't spend time listening to them because that only influences our minds. Yes, some are doing well yet they are just silent and keep low but these scammers, you can boldly see them on social media showing their (fake)trading success. Some people say not all in the social media are true, and they are right.

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Quote from: Alphakilo on April 18, 2024, 07:12:56 AM

Many are teachers only few are traders. They make their money from selling trading courses, teaching trading classes, creating trading contents for YouTube and other social media. They have their own trading podcasts and collaborate with people like them to talk about trading yet, they have never been successful at trading.

It's the same with everything... there's an old saying in my area that the best coaches were usually bad players, and vice versa. Because they are two different skills, it takes a gift to know how to do something and be good at it, and it is a special gift to be able to pass on some knowledge to others.

At the end of the day, everyone has their own story, so each of us has the opportunity to prove that we are good at something. Instead of criticizing others and whether they are good or not at something, focus on yourself and your results... results are the ones that confirm if someone is good and what they are good at.

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Quote from: Mpamaegbu on April 22, 2024, 05:24:25 AM

Quote from: Alphakilo on April 18, 2024, 07:12:56 AM

-snip-

I've a few of them like that I followed during my noob days in Forex Trading, several years ago. Even till date, I still look at what they're doing but not relying on what signals they dish out. I want to see how many of them are still there, trading. There was one I met on Facebook. Dude was always displaying winnings and acted like he didn't have losing streaks until he created a telegram group where he started making trade calls. His calls proved he wasn't what he claimed he was as most of them turned losses. I've come to realize that people like that mostly prey on the ignorance of newbies to make whatever material gains they display on social media.

Damn – anyone who believed in him would just become easy prey for personal gain. I never believe in trading signals even though there is some evidence that the prediction and analysis are correct – but the negative thing is that they will hide losses so that other people are interested in trying their service.

There are many beginners who are interested in things that can make them easy to make a profit without having to work hard to learn to make their own analysis - but in the end, they never get the knowledge. The best financial advice I ever got was: "Don't chase the money - but chase the knowledge", it will make us better without depending on other people.

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Quote from: kentrolla on April 22, 2024, 01:24:55 PM

That's the sad reality as we should get out of something called signals and premium channels as they are just manipulating is by posting about the few wins and hiding many loses, there are people editing it to make it look like they have had profit. First of all anyone who is accurate at trading will not be wasting time creating and managing such channels as it's one of the commonly used modern day scam and there is no shortcut for success in trading as we have to learn the basics. We need to stay away from such influencers and start out own research and learn basic components like BB, RSI, MACD and Fibonacci.

This is true and come to think that it is really just that too easy to post up winning trades and wont really be tending to post the losing ones on which it would really be that a common approach to have.
You cant really just that make yourself that be able to easily believe with these so called premium groups with premium signals. If they were really that profitable in the first place then they wont
really be offering such thing and with that alone then you would really be able to make yourself that realize that it was never been that possible that there's someone do make out some sure money
out from sure signals.

Better to make yourself that learn up trading on your own method considering that every information that you could really be able to make use is really something that you
could found everything online, the rest of learning could really be acquired through experience.

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That's the sad reality as we should get out of something called signals and premium channels as they are just manipulating is by posting about the few wins and hiding many loses, there are people editing it to make it look like they have had profit. First of all anyone who is accurate at trading will not be wasting time creating and managing such channels as it's one of the commonly used modern day scam and there is no shortcut for success in trading as we have to learn the basics. We need to stay away from such influencers and start out own research and learn basic components like BB, RSI, MACD and Fibonacci.

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The saddest part of this is that these guys who consider themselves experts in forex, they keep posting photos when they are in places like Dubai in luxury hotels, they post photos of luxury houses, they post photos of luxury cars and they keep saying that they have all that money thanks to forex, then comes their phrase that has made me laugh the most every time I see an advertisement from a forex specialist, Is the following phrase: with this robot created by our team of experts If you have more than 10 years of experience in the financial market, you will be able to operate in the forex market as if you were an expert. Get your subscription now and start operating like our experts Grin

Then the forex expert continue: this software before cost $350, but we are discounting it, so hurry up and get your subscription now for just $150. After next week the price will return to normal. Grin

and the guys start pretending to be people who are trying to help other people learn forex, they keep talking about people's financial failures, they keep talking about how people make mistakes in life. their words sound as if forex will make anyone rich. These guys who consider themselves experts in forex, they sell unrealistic dreams. they are big scammers

Quote from: https://www.ifwglobal.com/scam/forex-scam-investigation/

Signs of a robot scam

Exceptionally-high returns: Forex robots can advertise systems that achieve a percentage growth rate in the thousands after only a couple of years. Be sceptical. This figure could only reflect closed trades. If the system has open trades and the stop losses are triggered, your profits could be erased.
Set scalping tactics: Some Forex robots utilise a scalping system, trading for minuscule profits. Technically, this can create a seemingly-strong win rate that inflates results – and leaves your profits susceptible to slight variations in market conditions, should things take a turn.

source: https://www.ifwglobal.com/scam/forex-scam-investigation/

When I read things like this about robot scam signs, I wonder where the robots that aren't scams are? In my opinion, all robots are useless

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Quote from: Alphakilo on April 18, 2024, 07:12:56 AM

You'll see them on Instagram or WhatsApp posting many signals, doing adverts for their VIP exclusive signal groups. Their appearance of wealth has nothing to do with their profits from trading and trading performance but from their courses sold and YouTube ads.

I've a few of them like that I followed during my noob days in Forex Trading, several years ago. Even till date, I still look at what they're doing but not relying on what signals they dish out. I want to see how many of them are still there, trading. There was one I met on Facebook. Dude was always displaying winnings and acted like he didn't have losing streaks until he created a telegram group where he started making trade calls. His calls proved he wasn't what he claimed he was as most of them turned losses. I've come to realize that people like that mostly prey on the ignorance of newbies to make whatever material gains they display on social media.

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Quote from: Kelvinid on April 19, 2024, 04:10:10 AM

The real successful traders are quiet and are even afraid to share their success stories. But those who are not, are big mouths and they are very convincing when they talk. That is why following these social media influences doesn't make sense anymore as they are just helping us to lose, not to earn. Because if these people are true and what they say is truly working, they are rich already but unfortunately, they are not.

Success can't be copied by others, it is a personal strategy. We can have their ideas and follow their tips but it doesn't mean we can be like them because there are secrets in trading that they never told us until such time we discover it on our own.

the habit of braggarts is spreading nonsense lol, I also often see on YouTube how someone who claims to be a trader gives advice which in my opinion is nothing special and is general knowledge in trading

while a professional trader will usually be calm and won't even make a video bullshit on YouTube, as ordinary people we can definitely differentiate between what is bullshit and what isn't (the point is, don't swallow the information currently available)

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Quote from: alastantiger on April 19, 2024, 03:29:54 PM

Those traders who you have highlighted are not scammers. It is not right to call them that. They have been able to build reputation, gathered the right audience through engaging content, built trust through consistent value delivery, and converting viewers into buyers and mentees. They are the metaphorical shovel sellers in the quote in a gold rush do not dig for gold, sell shovels. The monies they accumulate from the courses, their YouTube channels may now go into placing higher traders although they do not tell us the outcome, it is just what I am speculating.

I have to agree with you. It’s not proper to call them scammers since they aren’t stealing our funds in the first place. Yes, we don’t have guarantees if they are also trading in reality, but knowing their teachings also make a positive effect on the beginner traders, I guess that’s something we have to be thankful instead. If they won’t stick to real trading, and chose teaching instead, that’s actually their own choice and preference. The important thing is, they are not feeding us wrong information about trading and they are being honest that trading itself is never a get rich quick scheme.

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Yes, that is absolutely correct. Since trading is a very difficult task, many traders are taking advantage of this and selling their own courses in the name of it to build a long-term company. In fact, they are basically big frauds. As trading is not easy and one has to spend a considerable amount of time to learn it and then start trading with small funds and correcting one's mistakes and moving forward one can become a successful trader. In this case, many people have made huge profits by trading and by promoting it, encouraging others to buy their courses and in various ways refer people to people to the trading course and thereby at the end of the day those who enroll in that course, at the end of the day they are Can't learn anything properly or get frustrated when practical application starts.

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Quote from: AnonBitCoiner on April 20, 2024, 03:54:38 PM

Quote from: Maslate on April 20, 2024, 04:19:10 AM

Yes, the term scammers denotes more of a negative aspect, and these who prefer into teaching rather than trading, is actually done by their own choice. If they can’t be successful with real trading, then they should still take advantage with their acquired knowledge and strategies, and that will be possibly achieved through teaching beginner traders, not in the actual process, but most likely in the tips and methods that could enhance the best skills and strategies of a beginner in trading.

-snip-

If someone is not trading by himself and prefers to give knowledge about trading to others does not mean that they are scammers but someone gets knowledge but are financially unstable to utilize money for trading so such people are also hard working.

-snip-

Trading is not science, so there is no way to teach a sure way to be successful in trading, because there is no way to teach anything certain about something intrinsically uncertain. As simple as that. Everything is based on appearances.

The problem is that most influencers will imply that if you follow their teachings you will be successful, and that's plain bs, because chance plays an absolutely major role in trading and you would've done it equally well or badly in your trades without having wasted your money and/or time listening to their "teachings".

Are they scammers because of that? it depends on your own perception of the concept. According to laws and judges in most jurisdictions, they aren't.

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Quote from: Natsuu on April 20, 2024, 12:01:03 PM

Quote from: michellee on April 20, 2024, 12:14:31 AM

By selling online trading courses, they can make money even without trading. It is one of the smart ways to make money where they open courses to attract those people to learn to trade. We don't know what they do in those courses but not many people are successful in trading and making profits.

This hard to swallow yet most of those courses are just recycled from the courses they've also just learned on YouTube. See a lot of these nowadays. Most of them doesn't even have a verified track record or worse not even an excel sheet that will prove that they trade very well. What they all have is a market preview and analysis from the past. No real result just backtesting and demo trading.

You only learn how to read price on this. Not trading itself. Trading is not only clicking buy/sell buttons, it is also managing risk capital and expectations.

Yes, it's like that. They can easily recycle material that others have submitted and change it slightly. It makes the material look different from the others. But if people are observant, the material is similar to other materials.

Many people claim they are experienced professional traders. Unfortunately, many people believe it and end up taking the online course. Even though the cost to join is very expensive and they should be able to use it for trading.

That's why we don't know anyone who has succeeded in benefiting from these online courses. Maybe some have succeeded, but maybe there aren't as many as we think. We should learn trading by looking for information via the internet.

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Quote from: Natsuu on April 20, 2024, 12:01:03 PM

Quote from: michellee on April 20, 2024, 12:14:31 AM

By selling online trading courses, they can make money even without trading. It is one of the smart ways to make money where they open courses to attract those people to learn to trade. We don't know what they do in those courses but not many people are successful in trading and making profits.

This hard to swallow yet most of those courses are just recycled from the courses they've also just learned on YouTube. See a lot of these nowadays. Most of them doesn't even have a verified track record or worse not even an excel sheet that will prove that they trade very well. What they all have is a market preview and analysis from the past. No real result just backtesting and demo trading.

You only learn how to read price on this. Not trading itself. Trading is not only clicking buy/sell buttons, it is also managing risk capital and expectations.

They just teach what we read on this forum everyday still they make shit lot of money respective to their internet fame. Which can be right or wrong but if we are in the recieving end then we should be thinking that why we should waste our money to read useless craps, better read authentic books and implement it according to the demands of current situation in the market.

Topic: The Illusion of Trading Success - page 3. (Read 1036 times)