Afternoon All,
My first post since a return to BF trading.
I have noticed a lot of sites and spin offs opening up charging money for seminars online or in person offering what i beleve to be bold claims on ROI and % bank increase over short terms.
I wanted to know has anyone ever attended or been stung for such an event?
My thinking has always been why would someone with such a strong edge compromise it for a few hundred pounds?!
In my beginning i did use a paid for educational site to teach me the ins and outs of the market and how to manage volatility but never a set plan to success so to speak...
R
Get rich quick schemes
- ruthlessimon
- Posts: 2094
- Joined: Wed Mar 23, 2016 3:54 pm
Online education is an absolute minefield. Although this doesn't apply to all, generally - "the more trader porn, the worse the trader". I'm sure there's a negative correlation between marketing budget & edge. I mean look at BA, Peter doesn't have pinups in the HQ
Villas, Italian sports cars, models for girlfriends - these are expert marketers, not expert traders. We "assume" their track record pays for all these luxuries - but when asked they never seem to prove it.. But pro traders absolutely have a valid argument not to show their track record. After all, they aren't investing your money. The closest I managed (to finding audited results) was looking at an old prop firm called Futex. Now Futex was a fraud, but I think the traders there were absolutely genuine. & looking at the liquidation reports, some of those traders had 7-figure accounts! These traders are still around, & I follow them diligently. In fact, I took one (snuck into) one of these old-futex traders seminars quite recently, & it was one of the most eye opening seminars I have ever seen.
To summarise, with some due diligence, the minefield can be traversed.
Villas, Italian sports cars, models for girlfriends - these are expert marketers, not expert traders. We "assume" their track record pays for all these luxuries - but when asked they never seem to prove it.. But pro traders absolutely have a valid argument not to show their track record. After all, they aren't investing your money. The closest I managed (to finding audited results) was looking at an old prop firm called Futex. Now Futex was a fraud, but I think the traders there were absolutely genuine. & looking at the liquidation reports, some of those traders had 7-figure accounts! These traders are still around, & I follow them diligently. In fact, I took one (snuck into) one of these old-futex traders seminars quite recently, & it was one of the most eye opening seminars I have ever seen.
To summarise, with some due diligence, the minefield can be traversed.
Exactly:)
To be fair, he doesn't need to do any trading as he's selling access to his magic system for over £1000 a go. Kind of depressing that this sort of thing goes on.
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- Posts: 13
- Joined: Sat Dec 24, 2016 12:00 pm
I think some of them are genuine but a lot of them obviously don't work. There is a number of tipster and systems review services out there which should be able to spot the good ones from the bad. You can't be sure off course if they are totally un-affiliated with the "tipster genius" they are reviewing but if the tipster (or betting/trading system) generally receive good ratings on a number of review sites, it's likely that they actually do deliver value for money. Some of them also comes with a money back guarantee (or a first month free trial) so if they are crap you can always get out before losing money, especially if you paper trade during the trial.
- Crazyskier
- Posts: 1157
- Joined: Sat Feb 06, 2016 6:36 pm