Topic: The Illusion of Trading Success - page 4. (Read 1246 times)

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.

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.

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.

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.

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.

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 

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.  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


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

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.

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)

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.

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.

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.

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.

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.

Scammers are always in search of ways to earn money without thinking about the wrong or right way so because of these scammers people avoid true people also and don't trust them easily.

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.

If they get money through teaching new Comers then they can become financially stable and can utilize that amount for trading so teaching others about trading is also appropriated.

Even if its really that too obvious that these people are really that not profitable but there are really those noobs who do still be able to believe that they are really that someone whose experts on which they would really be that making out such payment on subscriptions or would really be joining up with these vip groups on which we know that this is something that would really be that such waste of money. Just like been elaborated that if these people were really that profitable in the first place then they wont really be bothering themselves on letting other people to know about their trades but rather then would really be focusing their own into their trades
and make out hell a lot of money without bothering any other things. In other note about having that trading success as a personal point of view, it would be normal that you would be having those bad or non right ones
because you would really be assuming that buying low and selling high thing is really that easy or sounds or looks pretty basic but on the time that you do put up yourself on such scenario or condition then you would really be finding yourself that being that on tough situation or condition.

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.

But teaching about trading is not scam. But you have to let your student knows that trading is risky and that you are only teaching them the basics.?
Just skeptical, how do they teach what they are not even practicing regarding the hard nature of trading...

because the signals and trading methods shared with their followers are not necessarily accurate. There is no compulsion for followers to follow the advice or signals given.
If they are not someone who has knowledge in trading but provides paid teaching for their followers, they can be said to be fraudsters. especially if there is an element of coercion to follow the signals given.
but if they do have experience and knowledge in trading, opening a trading lesson is not a scam. Traders must consciously know the risks of their trading. they do it themselves with their own money, and even though they use other people's signals, they still carry the risk themselves.

Well, you have a good point about the many influencers who are making their money influencing people but practically are not successful traders. Many of them are not even professional traders to think their supposed luxury lifestyle is generated from trading but from adverts and streaming activities. But you are wrong to call them scammers. Who are they scamming? For them not to be successful in a trading career doesn't mean they do not have all that it takes to be successful in theory. Mind you, if 1,000,000,000 people are taught the same thing about trading, it is highly possible that only 10 of them, or less, will be able to utilize what they were taught in the practical sense to earn from the market. But this doesn't stop the others from knowing what to do as well, but they can't just put the puzzles together practically to achieve their desired aim.

However, if they teach and show others the same thing they know, who knows, that person can become successful through that. Because to some of them, it could be their emotion, let me call it psychology as a whole. For this, it doesn't matter, they can still be a good teacher, tutor, or mentor as the case may be because all they need to teach most times is what they know, which is the truth about what would help the learner to be successful in trading.

Unless otherwise stated, I do not think they should be called scammers, even though they are not sincere about what is really earning for them. So far they have not duped anyone by collecting money and not delivering what they agreed on, they are not scammers.

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.