Please be careful with traders who....

[harizen]

"Please be careful with traders who run private groups, do phone consultations, and sell courses.

Most successful traders are too busy trading, they don't have time to teach.

It would be a distraction."

Saw this tweet just now.

Worth to share to those trading newbies who wants to rely on paid advisors.

Will not go deeper. Hope you got the picture.

(P.S. Credits goes to @BTC_M****. Decided not share the source link as I don't want to promote his Twitter account as owner's other tweets might influence newbies perspectives. But it's quiet easy to search.)

[Bttzed03]

I've seen a lot of people shilling on twitter about their paid private group in 2017 prior to the bull run. A lot of them fizzled out when the bear market hit last year.

Before subscribing to them, consider that they're not really earning much from trading that's why they're selling something else.

[Lakai01]

Some of the "paid groups" hosters were convicted of dubious business last year, and not without reason. The only one who benefits from such groups is the hoster himself.

Works in principle like this:
You pick out coins that you can advertise as an "insider tip" and buy yourself just so much coins that the price does not shoot up. You wait a few days and start promoting this coin as an insider tip. Group members start to buy this coin, too and the price increases. You sell with great profit and start the game from scratch.
Of course, this scheme also works for "personal investment tips" by phone or mail, but there it is usually about much higher sums.

[Xenrise]

"Please be careful with traders who run private groups, do phone consultations, and sell courses.

Most successful traders are too busy trading, they don't have time to teach.

It would be a distraction."

I also saw that tweet in twitter. It was shared on our group on messenger. I agree on the phrase "Successful traders don't have time to teach." It's quite true and those private groups, pump and dump groups or paid signal groups are just getting your money. Best not to engaged with these.

[NeuroticFish]

Also they would not share useful tricks and strategies, since at a later point you'd be competing against them.

[Jating]

Very well said.

That's why I don't like to join those private or pump-and-dump groups because it's just a waste of money. You should learn to trade your self and get your hands dirty.

So I definitely agree and I also believed that successful traders doesn't want to share their trade secrets otherwise their profits will be affected. So for newbies, stay away from those kind of groups.

[Bitinity]

I'm not a type of person who relies on other opinions in my trading activity, I do not even believe that there is an expert who is willing to sell/share/teach newbies about their trading strategies.
I have to agree that the tweet is a must to be shared anywhere so it will educate newbies who are looking for trading signals/experts/advisors for their trading.

[Mpamaegbu]

The only thing these "motivational traders" (That's the way I like to call them) do very well is the eye they set on their charge fees. Nothing else. They hardly give out nice trade calls. I have monitored quite a good number of them. But then, Newbies may not know all these once they see screenshots of doctored accounts showing success rates.

[christotle]

Just the same way i advertise for new companies back then just for the referrer bonus and ends up dragging innocent investors to the mud, I have noticed a lot of people conversing online about their paid private group with reference to bull rise, fizzled out when the bear market hit.

look before you leap. It's just my candid advice.

[Bagaji]

Most people who claimed they are guru in crypto currency trading that usually advertise themselves as experts asking people to pay for their trading services in mostbcases I refer to them as speculators who cannot practice what they preach in crypto currency trading.

[suzanne5223]

I've seen a lot of people shilling on twitter about their paid private group in 2017 prior to the bull run. A lot of them fizzled out when the bear market hit last year.

Before subscribing to them, consider that they're not really earning much from trading that's why they're selling something else.

I dont know why a newbie we think joining a certain group is the best way to learn trading while they can easily do that through acouple of Youtube video. However, you're lucky you don't join the scam one because the group are mainly two type(the pump/dump and scam group).
The group are also on discord either.

[legendster]

Actually selling trading signals and trading advice is a common practice among professional traders.
I admit though, it becomes really hard for a newbie to distinguish between the good apples from the bad ones. Which is why it is all the more important to get advice from someone experienced about the do's and don'ts. It is often the ones who do not do this, that lose the most money.

[jhenfelipe]

Totally agree with what he said. Unfortunately, there are still people who believe on paid trading signals groups/courses, being swayed by fake results, offers, and promises. They'll just figure out later on that it's not always right and it doesn't guarantee profit.

For those who are still interested in joining paid trading groups: instead of paying in such group, I highly suggest that you use your crypto to buy a coin/token that you think is okay and trade. You will experience both gains and losses, but it will help you develop techniques and strategies on the way

[Kelvinid]

Most people who claimed they are guru in crypto currency trading that usually advertise themselves as experts asking people to pay for their trading services in mostbcases I refer to them as speculators who cannot practice what they preach in crypto currency trading.

They are absolutely be looking for a victim and its so sadd that there are some people have fall into their hands(mostly newbie).
Their thinking that it could help them better that to keep in reading, searching. But they are wrong of what they'll do, it is just a some kind of trick and it causes them to loss after.  

[jazmuzika217]

Theres a lot of trading signal group in the telegram and discord this is common but I dont trust any signal group its better to learn in your self rather joining or trusting this kind of group. OP is right regarding those people who make money by this kind of group dont be a victim just make your own research to learn trading.

[AmoreJaz]

Most people who claimed they are guru in crypto currency trading that usually advertise themselves as experts asking people to pay for their trading services in mostbcases I refer to them as speculators who cannot practice what they preach in crypto currency trading.

They are absolutely be looking for a victim and its so sadd that there are some people have fall into their hands(mostly newbie).
Their thinking that it could help them better that to keep in reading, searching. But they are wrong of what they'll do, it is just a some kind of trick and it causes them to loss after.  

this is the reason why i only trust myself when it comes to trading.
sure you can join in those groups, free or paid. but who really benefit from those groups? more then likely the owners of those channels .  
claiming to be a guru of crypto trading without portfolio to show is equivalent to a fraudulent individual to me. so up to the user if he still want to follow such person...

[nydiacaskey01]

"Please be careful with traders who run private groups, do phone consultations, and sell courses.

Most successful traders are too busy trading, they don't have time to teach.

It would be a distraction."

Saw this tweet just now.

Worth to share to those trading newbies who wants to rely on paid advisors.

Will not go deeper. Hope you got the picture.

(P.S. Credits goes to @BTC_M****. Decided not share the source link as I don't want to promote his Twitter account as owner's other tweets might influence newbies perspectives. But it's quiet easy to search.)

Twitter nowadays runs like Bitcointalk too. You might see or think that they have a lot of followers, there are interactions from another users saying that he is good and he is correct and how accurate his forecast was on this and on that but who knows if he is just talking to himself and just waiting for a newbie to take a bite and subscribe to what he is selling or promoting.

[DarkEagleMan]

I totally agree with this point, because it is incomprehensible to me that someone boasts of his alleged advanced knowledge as a trader and can not fully live on its benefits, but still have to sell courses and conferences to make a living. If a person with as little capital as I had the ability to live comfortably in trading for years, I do not see why these so-called masters can not do the same.

[The Sceptical Chymist]

Some of the "paid groups" hosters were convicted of dubious business last year, and not without reason. The only one who benefits from such groups is the hoster himself.

Doesn't surprise me, and you're right on the second part, IMO.  If you're a trader with a successful strategy, it would seem to me that you would make a hell of a lot more actually carrying out that strategy than teaching it--and also if enough people adopt it, the opportunity would disappear.  Sort of like arbitrage.

I'd stay away from paid trading lessons, but that's just my opinion and I don't have a lot of knowledge about them, just a healthy dose of skepticism.  In a market like this, buy-and-hold works just fine.  It's simple and should work for a while at least.  No need for taking a class, nobody to pay, no endless staring at a computer screen hoping you're going to come out ahead.

[Indrawan77]

I agree with this, I ever joined the paid channel of the group and I end up losing money and the group admin run away, in the end we only can rely on ourselves to trades, so be careful if you want to join this kind of channel, the result may be not as wonderful as it sound