The Illusion of Trading Success

[Slow death]

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

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

[kentrolla]

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.

[dunfida]

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.

[_BlackStar]

-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.

[iv4n]

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.

[Questat]

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.

[GreatArkansas]

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.

[Natsuu]

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.

[ancafe]

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.

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.

[Arenga pinnata]

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.

[Rockstarguy]

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

[wxa7115]

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.

[stadus]

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.

[shield132]

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.

Whales move the market, someone's tiny dust can't change the Bitcoin's price and the rule of profitable trading is simple, buy low, sell high. Technically this is what those social media stars sell, this simple combination of words - "buy low, sell high". Those influencers are not whales, so they can't be successful in trading. They don't make their living from trading, they use trading to give you the show that will help them to sell their product. They make money from selling their courses, trading is like gambling for them, sometimes they profit, and sometimes they lose.

Your post is right and a good read for many people who fall into their scam. I hope many people will understand that when someone helps you to make money, they are the ones who are making the money and not you, so this help is fake.

[slaman29]

Those influencers are not whales, so they can't be successful in trading. They don't make their living from trading, they use trading to give you the show that will help them to sell their product. They make money from selling their courses, trading is like gambling for them, sometimes they profit, and sometimes they lose.

That's true, but that's not the reason they can't be successful in trading. They're just not proper traders, that's all.

And something I keep repeating throughout the forum all the time every year is that most people aren't built for trading. Big majority of people lose money, that's a fact. And even among proper traders, over time, big majority lose money.

So these influencers are making money from other streams, be it affiliate or commissions, or simply selling their teaching product.

Trust me even if they are whales it's not gonna make them more successful AT trading.

[Kelward]

This forum really opened my eyes to the naked truth that crypto trading is hard, because before then when I was hearing about trading from social media sites, it always gave me the impression that it's an easy way to earn money and become rich. In as much as there's an element of truth in this, the bigger truth is that crypto trading is risky and that's the fact, so no matter how it's sugarcoated like it's a short cut to riches, there's much loses in it and no matter how experienced and professional a trader is, they still experience loses. Trading should not be relyed on as an only source of income and traders, especially newbies should trade with the amount that they can afford to loose.

[Pandu Geddon]

This forum really opened my eyes to the naked truth that crypto trading is hard, because before then when I was hearing about trading from social media sites, it always gave me the impression that it's an easy way to earn money and become rich. In as much as there's an element of truth in this, the bigger truth is that crypto trading is risky and that's the fact, so no matter how it's sugarcoated like it's a short cut to riches, there's much loses in it and no matter how experienced and professional a trader is, they still experience loses. Trading should not be relyed on as an only source of income and traders, especially newbies should trade with the amount that they can afford to loose.

beginners should be aware of the difficulties of trading from the first time they try to trade. difficulty choosing assets, difficulty opening positions, and even difficulty determining targets.
most beginners just lie to themselves that they were just unlucky in their initial trading. they think they just need to try more. whether starting from watching or following influencer videos or getting support from friends. Trading is only intended for professionals.

[Peanutswar]

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.

Another factor is the use of the promotions its easy now to make a content into different platforms and share those stories in a form of text, post or videos to gain more popularity and not all the people are knowledgeable with the crypto or the trading itself so if those content creators earning a lot of money why not me those are the questions they as always problem and reason why they want to join in trading because they see an instant money.

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.

If you have time to analyze, understand or make an investment with knowledge why not take a risk of it than taking courses which the same you can get in the internet, well possible we have different learning phases but think twice if its realty worth it?, i don't trust these signals after i learned about trading. As possible stay away with these things could be lead to scams.

[Ndabagi01]

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.

Thank you for bringing this discussion up, I myself have once thought about this and it makes no sense if I have no proof to backup my claims, so I just let them be as a thought and not actually happening in real sense. Sure the social media lifestyle is fake and for the real ones, you can’t easily differentiate them online.

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.

My thought about this was that if they are that good at trading and can make any money they wish to have on trading, why would they come out to stress themselves to teach people on how to trade? If they really want to help, they can offer this skills for free or even share the money by giving some quiz or take it to an orphanage home. There’s more to this because I feel they’re really hiding many things from the public that are willing to learn from them.

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.

Trading is just sideways, sometimes you win and sometimes you lose. The best part of it is that you understand the basics and when you do, you can earn more profits than losses but without proper risk management, you can lose all of your profits in one day. Trading is hard but I still believe there are some few traders that are genuine but most of them are not and depend on those streams and audience they build on social media.

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.

Many are scammers while few are legit. Just filter them out.

[Viscore]

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.

Of course, they don’t force people to believe on them so they won’t totally fall as scammers. They are just doing their own job trying to educate these people around that get interested to trading, although it comes also with their personal interest to increase their views and get high compensation. But I really do agree that it’s very improper to call them as scammers, maybe the term “influencers” is probably what’s best suit for them.