Topic: The Illusion of Trading Success - page 4. (Read 1002 times)

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.

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.

By making videos on YouTube, they have succeeded in getting passive income because many people watch them. They only provide a little information about trading and then they invite people to join their courses by paying a subscription fee. Some even offer to provide trading signals that they claim are highly accurate. And it seems that these methods are successful in getting people to join and giving them benefits.

They may be scammers, but they manage to con people who want to get results quickly. More people will be deceived by their ways. We are the ones who have to be careful always to check the information we get and not easily join them before we get the right information.

Without a doubt I consider those people as scammers as well, but newbie traders are too easy to impress, they watch a video of someone with a suit and that talks with technical terms and they believe they know what they are talking about.

However if they took the time to read books by actual traders and understood a little bit more about the markets, even if they could not trade yet, they will immediately see through the facade and understand those people probably have never succeed over the long term as traders, since a great deal of the advice you can hear from them is complete nonsense that could hurt you if you actually followed their advice.

As long as they are doing this without fooling anyone then I agree, we should not consider them as a scammer because they are just using their advantage, their knowledge in trading just to make extra money and they succeeded on this by just having a good number of followers. If you are into trading, having a mentor and someone who can guide you is a big help, but if none a group like this can also be a big help, you just need to continue learning until you can trade on your own, and by that you can have a good ROI.

It is always important not to follow things you see on social media because social media is not real life, the signals being shared on social media might not be real but they are just shared as an evidence to sell their business which is to provide signal for other traders that do not have time to analyze the market. The signals they share might be fake ones and they do this so they can always prove that they got the signal right. At time the signals are outdated, they post it after it has already confirmed and you not knowing will copy the signal to use and then you will have a bad trade. As a beginner trader, always be the one analyzing the market yourself to make it more easier to know were you made a mistake when the trade does not go in the way you thought it will go to be able the learn lessons.

Seriously, this is true.
Even from them, we seem to see how easy and easy it is to achieve success in crypto trading. Obtaining high profits and getting instant success seems so easy, especially if you follow their paid signals and also subscribe to their channel. it seems as if it is so easy and convincing.

And it's true, just like an illusion. because in reality, it's not that easy. Becoming successful in trading is really difficult and complex. It cannot be done spontaneously and instantly. There will be many processes that actually have to be gone through, including understanding how to trade, how to set a strategy, how to analyze the market and its indicators and how to make decisions. Loss to loss is always approached as learning from personal experience. Yes, learning by doing is quite influential. It's just that we also have to be smart in managing how much loss we have to incur and when we need to stop or continue.

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.

This is so true OP, and I just came across one today that made me followed him to his page and saw a video about trading he wanted to sell for some huge amount of money and claims it is for free now. After opening the video, it was less than what I expected, I would have been a better teacher if I wanted to tutor some people on what he was teaching and compiled in that 1 hour video.

The same thought came to my mind today that why are they so many teachers teaching people about trading and there are no so many successful traders. The number of teachers teaching people how to trade is suppose to be less than the successful traders but no, you can’t see successful traders not more more teachers.

Trading is hard and it’s not something you can make fortune from it in a short period of time. Even the successful ones still create contents and teach other people on how to trade, so that they can be compensated for their losses in trading. A lot of scammers are here, so well to do your research and do a lot of learning by yourself, it would be better for you.

A kingmaker, makes the king, but doesn’t achieve anything on their own. This is the ideology everyone following and hence acting like the ace the trading industry. These types of people are not traders, rather their earnings niche is trading. They saw potential and opportunity here in this field and hence they grabbed it. Now whether you or me thinking them as scammers, doesn’t at all trouble them. They will continue doing this and will keep on printing the money.

What I don't like about them is that they flaunt their wealth around as if they made it from trading, using it to decieve their followers that trading is easy which is not true. Many newbies follow these influencers and feel that trading is easy as they are saying it, unknown to them that it is only the basic and the market is different when you enter it. To me trading is easy said than done,because it is more of practical.

You would really be having those kind of thing in mind that if these fellas are really that profitable somewhat millionaires or making such huge money then why they would really be that having that kind of
flexing out and tending to make people to pay up some sub fees or vip on whatsoever payment on which if we do really tend to look at on which these are just peanut amounts.
Its impossible that you cant really be able to make yourself to think about those probabilities on which this is something that you cant really be able to make yourself realize that
there's no point or really not that recommended on following or paying up on something which you could eventually learn it for free.

Trading success? You could really be able to achieve if you are really just that serious on what you should really be gonna doing. Although success does really need up
some sort of mix of luck for sometime due to unpredictability of this market. Just dont make yourself that delusional on some aspects.

Well, if those experiences or trading ideas are shared to the people for free, most probably he is genuine with his intention to help, he’s really a good trader. But the fact that everything involves money, that’s already suspicious for us. Reality is, he is not actually a successful trader, but is acting like one so that he can deceive everyone that gets interested to his contents, still he will end up profitable just like trading. He’s smart, but not smart enough to trade for real.

Trading is not for everyone. Trading involves lots of commitment and aside that, it is highly risky. Not many would want to take such risks. It shouldn't bother us much how this group of 'teachers' make their money from just having the knowledge of trading and not going into full time trading, provided they ain't scamming people of their hard earned monies. Not all of these 'teachers' are fake though.

A prospective trader who is serious about learning trading and going into it full time should know that most traders they see on social media are only using that platform to get more followers and earn money. That is why they should not rely on only one source to get the right knowledge they need. Learning from different sources will help them know when a particular source is not being honest with his teachings.
It is not easy getting a real and an honest trading mentor these days, but if one is eventually found, he shouldn't be taken for granted.

Now actually people have taken more responsibility in teaching rather than trading or learning, you are right.  Many people are now less engaged in teaching rather than training, seeing that everyone is practicing and making money from them.  I will see that many people are making many promotions or promotional videos on Tiktok ID in the name of teaching responsibility or teaching, but actually many people are inboxing them as an attack on outsiders.  Money has been snatched from them by trapping them and how much it has actually benefited them.  If it turns out not to be investigated then you will see that they have actually wasted their money and they are.  Can't get any kind of traffic or any kind of earning, actually it's difficult to teach training or trading.  Trading is not easy as it is easy to do and training is difficult. But anyway you are right, now trading is more than training.

Well, that's their strategy and probably they used that money to make sure that they would be able to fund their trading as well. I believe there are a few people who are really honest in helping other people towards the right path and they will bring them to the path of success as well. There are signal groups that just make it with money but there are groups that are really great and helpful with their team. It's just going to be important to DYOR when you are going to follow their signals. 

Maybe some are like that but there are still some who are really traders. They can also be called as mentors. Learning trading is not easy and they are making the lives of someone else easy by providing direct lessons in exchange for some fees. Not only the positive side but they can also show the negative side of it. It's not a way to scare their clients but it's only a way for them to be more careful about their actions.

I think it's true that there's also traders who earn money consistently and this is the reason why trading is popular but many of them don't bragged their gains in social media. These people are well-disciplined and humble.