The Illusion of Trading Success - page 5.

jrrsparkles

sr. member

Activity: 2380

Merit: 251

Eloncoin.org - Mars, here we come!

Quote from: Assface16678 on April 18, 2024, 06:14:10 PM

.
.
.
.
This became a big scheme and many influencers or what we call mentors in trading keeps on flexing their luxury lives in social media platforms to promote their services or to attract customers, sad but yeah this is happening and believe me I've tried subscribing into some mentors in trading and not all of them are really helping you, there some that is scammers or their skills or signals are really not effective, of course not all I subscribed to some legitimate groups that will really teach you how to trade and different techniques and hacks in trading, that's why I don't believe those influencers that boost too mucb about how successful they are because of trading. That's why the greatest mentor is yourself, if you manage to become average to expert level in trading the you are the boss to your own work.

Evolution of technology gave opportunities for people with the fame to make easy money and that's only possible due to the wrong approach of the victims cause they don't know where to start. Nobody will be interested in telling their money making strategy to anyone even if we are ready to pay and whatever they teach us are just basic that we can learn from reading random articles on the internet for free.

synchronym

member

Activity: 322

Merit: 85

★Bitvest.io★ Play Plinko or Invest!

Trading is not so easy. Training is done through YouTube. Don't believe it easily. Those who are new to trading fall into a trap. Newbies don't understand many things, because of which they easily believe and lose. Before trading. Must acquire enough knowledge about trading if you don't have knowledge about trading then you will never get success through trading. So before investing in trading you must gain proper knowledge about trading then you have to invest. Investment in trading must have a long-term plan. Many times it is seen that many investors make short-term plans and it is seen that they suffer as the market fluctuates. So always trade with a long term investment plan. If we have a long-term plan and can trade patiently after checking the market, surely we will get success through this trading.

Queentoshi

sr. member

Activity: 728

Merit: 308

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.

Some of these people started trading actually as successful traders, but they were not able to maintain the success because maintaining success in trading is even more difficult than achieving first time success that they enjoy at the beginning of their trading. These people were able to convince some people to buy out materials written from the little knowledge that they've been able to acquire and once they saw that there was a lot of people interested in learning trading and the profit they could make, they started focusing more on packaging themselves as teachers who sell trading courses, organize trading classes, create trading contents for YouTube and other social media platform and host podcast just so that they can position themselves properly to collect money from these new traders who have the intention of learning.

poodle63

hero member

Activity: 2660

Merit: 509

Leading Crypto Sports Betting & Casino Platform

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.

couldn't be said better, those people adept with trading that make millions are definitely not going around trying to make the whole world know that they are making big money just to avoid spotlight meanwhile the people that tries to market their course and so on will definitely try to make the whole world know that they are successful person regardless whether that success is true or not but the point is that they are trying to sell something so that they can make money off it so even trying to fake their trading success is even more frequent these days.
but right now things are improving though people aren't really as vulnerable to such trading gurus as it was back then, most people just outright ignore what ever these people are yapping and just try to research on their own, though there are still vulnerable peolpe that don't know better that still fall into their marketing method but its not as rampant as it was before.

Cryptomultiplier

full member

Activity: 770

Merit: 180

Eloncoin.org - Mars, here we come!

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

Many are teachers only few are traders...

This quote explains it all.
I had to follow a teacher one time on YouTube while I was trying to secure a Payoneer account for someone who was interested in setting up an online shop.
Although the experience I had after following instructions led me well, but it was purely different from the result I got, because the teacher could only tell me what to do, but couldn't and didn't mention the harder part which involves using a referral or having someone with similar accounts fund mine up to $50, before I get to use the account to receive or send payments.
I had to go do my own research to discover Greg account, although not so popular but it was easier to just do it and be successful at it on my own than listening to the instructions from someone who is merely teaching to earn money.

Somehow my story relates to same our OP just told and the truth remains that many traders who have podcast and host shows and have videos on YouTube, don't actually trade for a living nor do they even practice or have had to practice some of the strategies they teach. They just make a living by making contents that are engaging and earn from it.

Kelvinid

sr. member

Activity: 2800

Merit: 344

when lambo...

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.

Lakai01

legendary

Activity: 2296

Merit: 2721

Top Crypto Casino

Quote from: retreat on April 19, 2024, 03:01:52 AM

[...]
I mean, if he's confident in his experience and has already made millions of dollars from it, why doesn't he just trade with that money himself and take all the profits for himself? why does he need to open classes at quite expensive prices and share his knowledge? If it wasn't for wanting to make money quickly without the hassle of trading, I don't think he would open a class with the intention of making other people rich with it - those people aren't generous enough to do that, they're not saints

I think this is explained quite simply: the security of income.

A successful trader misses around 49% of his trades and makes his profits with the one percent more successful trades. Once he has made a name for himself with his successful trades, he can use this to offer courses, workshops and training sessions, which are then also very popular with newcomers. All well-known professional traders actually offer such courses, and crypto influencers such as CoinBureau also work with such methods.

The income from the courses is generated regularly without much risk, so they are a very good addition to the trades. A successful and well-known trader would therefore be foolish to abandon this source of income.

God bless u

full member

Activity: 280

Merit: 110

Eloncoin.org - Mars, here we come!

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.

Thats the negative side of not only trading but also all the related business and platforms that are running all along the internet. People get more income than trading in selling their so called fake courses and claims.

Actually it's not more of a fault of course seller than the ones who buys that courses. We are not only buying these courses but actually we are promoting these kinds of course sellers and this boosts their confidence that people can still be doged and faked. We have to stand against it ourselves.

retreat

sr. member

Activity: 1008

Merit: 371

There are many people like that, claiming that they became millionaires just by trading and opening trading classes to be able to share their experiences with other people. I mean, if he's confident in his experience and has already made millions of dollars from it, why doesn't he just trade with that money himself and take all the profits for himself? why does he need to open classes at quite expensive prices and share his knowledge? If it wasn't for wanting to make money quickly without the hassle of trading, I don't think he would open a class with the intention of making other people rich with it - those people aren't generous enough to do that, they're not saints

sheenshane

legendary

Activity: 2366

Merit: 1206

Quote from: pooya87 on April 18, 2024, 11:52:23 PM

Quote from: sheenshane on April 18, 2024, 08:28:53 AM

It's as simple as that, there's no successful trader in trading.

I disagree. If you are actually trading, you can make profit in the long run too despite some losses and mistakes here and there.

The problem is that many people "gamble" and call that trading! For example they listen to the fake hypes on the internet, in social media, etc. and buy a shitcoin without knowing they are buying into an already pumped garbage that is about to be dumped. Obviously sometimes they make a profit randomly because they were lucky and the pump lasted a little longer but most of the times they lose because they get dumped on.
This is not trading. This is gambling and you are right, there is no successful "gambler"...

Well, I got your point there.

From time to time in trading for sure you'll learn from those mistakes in the long run and this makes you strong in trading and of course, it will sharpen your knowledge and ideas in trading as well. But I can't imagine how much you'll need to lose before getting such a point.
So the idea of successful trading isn't something yet convincing me at all but yes, you may earn profit but we can't call it successful. Because IMO, when we talk success, there should be no loss at all, it should be consistent profit that trading won't promise at all even how knowledgeable you are.

joeperry

sr. member

Activity: 2044

Merit: 461

Contact me in Telegram: @JperryC

There's a lot of people who are selling courses though not all of them are successful traders but that doesn't matter they didn't say they are successful but they have the knowledge they can share with in exchange for money and it's up to people on how they are going to apply it and those courses were really a good source of knowledge that you can't get easily or would hard if you are just going to do it on your own. Also, there's some known traders in Twitter that do share courses for free, give their insights (but not a signal) and those are some successful traders/teachers as they do teach freely and doesn't ask anything in return and they also have a disclaimer that that was only their analysis and doesn't encourage to follow as there's no way you can predict a market.

But regarding to the VIP signals, I don't trust them too, we don't know how do they get it and also it would hinder you to practice your skill on market analysis if you just rely to the signal given in a group.

traderethereum

hero member

Activity: 2870

Merit: 574

We cannot reject their presence because they have found a way by opening trading training courses. They probably trade infrequently because they often train people who join them and they actually make good money from what they do.
It's hard to become a professional trader, but that doesn't stop people from continuing to learn. One way is to take courses that say they can. However, not many people can become professional traders because many of them are not serious about studying it.
If you really want to become a professional trader, you should study more seriously and think twice about enrolling in such courses because you can learn a lot about trading from other sources. You should use the money to register as capital for trading and continue to learn so that you can improve your skills.

naira

hero member

Activity: 1960

Merit: 586

Free Crypto Faucet in Trustdice

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.

Well, I have often witnessed this phenomenon for several years and these people appear when the economic situation of most people is in an unstable position. Continuous and defensive trading may be good for yourself, but our brains are still required to read price movements, which is not as easy as clicking the buy/sell button. There are lots of people close to me who were initially successful in trading, but this is what is called the crypto market which can move abnormally, not about ups and downs but about positioning. Therefore, instead of focusing on being a daily trader who locks himself away and locks up his brain, it's better to be an investor who can leave assets in his wallet at any time without having to worry about going up or down, because long-term investments for me give me more freedom of time to look for sources of income other.

pooya87

legendary

Activity: 3444

Merit: 10537

Quote from: sheenshane on April 18, 2024, 08:28:53 AM

It's as simple as that, there's no successful trader in trading.

I disagree. If you are actually trading, you can make profit in the long run too despite some losses and mistakes here and there.

The problem is that many people "gamble" and call that trading! For example they listen to the fake hypes on the internet, in social media, etc. and buy a shitcoin without knowing they are buying into an already pumped garbage that is about to be dumped. Obviously sometimes they make a profit randomly because they were lucky and the pump lasted a little longer but most of the times they lose because they get dumped on.
This is not trading. This is gambling and you are right, there is no successful "gambler"...

mirakal

legendary

Activity: 3108

Merit: 1290

Leading Crypto Sports Betting & Casino Platform

Quote from: sheenshane on April 18, 2024, 08:28:53 AM

It's as simple as that, there's no successful trader in trading. You might get a profit today but you'll never know what will happen next.
In terms of money, many people are willing to deceive other people by offering their fake services since they know there's someone to believe them because they call themselves "influencer".

Quote from: Oshosondy on April 18, 2024, 08:02:45 AM

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.

I consider it most likely, especially if they are misleading others with false promises or unrealistic expectations about trading success.
It's disheartening to see that still they fall prey to such schemes, with few, if any, achieving the financial independence and success they were promised.

Mentorship isn't wrong if you don't rely upon them, you should make your own decisions in trading and make them one of your references.

Yes, I agree. As much as we need mentors in trading especially if we are still beginners, but in the end, it’s left on us the final decision making if we are going to adapt the mentor’s idea or we have to dig our own idea.

The reality is, no one really gets successful in trading consistently, yes they gain profits at some point but they also lose their funds at times. So no one is really capable to give us the most reliable advices in trading as we end up making different experiences in trading and gains different outcomes as well. Although we have these influencers all over the social media, but they cannot make guarantees that our trades will end up successful if we follow their trading strategies and tips.

freedomgo

legendary

Activity: 3080

Merit: 1144

That’s where they become best actors and impersonators so most likely, they will keep on doing that until they’ll find enough reason to stop. So while the social media is still at a high advantage these days, and majority of the audience are in social media, they will continue to chase big and instant profits by deceiving those innocent people, something that they can’t do actually in the real field of trading.

And since majority of those aspiring traders have turn greedy, they will continue to follow and subscribe to those fake traders since all they think is that they can make their own trades successful and profitable from following all their tips and advices.

logfiles

copper member

Activity: 1960

Merit: 1638

Top Crypto Casino

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.

I like comparing them to chaps who write or are authors of books that tell people the "secrets of getting rich" but in actual sense those people have never gotten rich because of the "tips" they are offering people.
They make huge earning through selling those books to gullible people instead Grin

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

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.

Some even get to an extent of using fake money from Demo accounts and shilling shitcoins to their followers.

Others keep asking their followers to sign up using their referral links. To me, those are red flags.

Pleasant_Tree

newbie

Activity: 5

Merit: 0

Sometimes a legit trader will teach a bright student, and even help them with trading funds in exchange for a % of the profits. A deal that good is normally only for members of my family.

nelson4lov

hero member

Activity: 2030

Merit: 789

Top Crypto Casino

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.

The truth is that anyone that is actually serious about trading and is profitable, have zero to no time for educating people on YouTube or sharing signals because the trading profits will def supercede that of the educational pursuits. I have a friend that knows very little about trading cryptos and overall limited knowledge on cryptocurrencies yet he prides himself as a domain expert for crypto and a mentor selling out "mentorship" spots in order to teach people how to make money from crypto.

9 of 10 times, people doing these only earn from those sells and none from their acclaimed skills.

Assface16678

full member

Activity: 1358

Merit: 134

★Bitvest.io★ Play Plinko or Invest!

Quote from: jrrsparkles on April 18, 2024, 11:23:52 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'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.

This is exactly what I have been trying to explain the other day on different thread, one who teach us trading by getting fees are not really traders they just try to exploit their audience by showing the positive side of crypto trading.

Making profits consistently in trading is not possible so they say others to do trades and get money in return and making money consistently.

This became a big scheme and many influencers or what we call mentors in trading keeps on flexing their luxury lives in social media platforms to promote their services or to attract customers, sad but yeah this is happening and believe me I've tried subscribing into some mentors in trading and not all of them are really helping you, there some that is scammers or their skills or signals are really not effective, of course not all I subscribed to some legitimate groups that will really teach you how to trade and different techniques and hacks in trading, that's why I don't believe those influencers that boost too mucb about how successful they are because of trading. That's why the greatest mentor is yourself, if you manage to become average to expert level in trading the you are the boss to your own work.

Topic: The Illusion of Trading Success - page 5. (Read 1002 times)