Get rich quick schemes

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Rstrach
Posts: 103
Joined: Thu Jan 19, 2017 12:33 pm

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?! :ugeek:

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
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jimibt
Posts: 3641
Joined: Mon Nov 30, 2015 6:42 pm
Location: Narnia

tbh - the claims of *get rich quick* are actually well founded!!

... for the provider!! (until rumbled) :D
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

Not many people get rumbled though, do they? I know of several schemes out there that are obviously false and run by people unable to prove they have ever traded successfully but still it continues.
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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 :lol: :lol: :lol:

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.. :( :roll: 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.
max_usted
Posts: 133
Joined: Tue Feb 14, 2017 6:07 pm

There is one "risk-free" scheme out there where the trader claims:

"IN OVER 20 MONTHS OF TRADING, I DIDN'T HAVE A SINGLE LOSING TRADE!!!"

HA HA!
Bluesky
Posts: 420
Joined: Mon Sep 19, 2016 9:26 pm

max_usted wrote:
Fri Sep 22, 2017 12:51 am
There is one "risk-free" scheme out there where the trader claims:

"IN OVER 20 MONTHS OF TRADING, I DIDN'T HAVE A SINGLE LOSING TRADE!!!"

HA HA!
He/she is probably telling the truth because during that time they didn't put any trades on :D
max_usted
Posts: 133
Joined: Tue Feb 14, 2017 6:07 pm

Bluesky wrote:
Fri Sep 22, 2017 8:15 am
max_usted wrote:
Fri Sep 22, 2017 12:51 am
There is one "risk-free" scheme out there where the trader claims:

"IN OVER 20 MONTHS OF TRADING, I DIDN'T HAVE A SINGLE LOSING TRADE!!!"

HA HA!
He/she is probably telling the truth because during that time they didn't put any trades on :D
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.
trader44
Posts: 236
Joined: Wed Oct 29, 2014 1:28 pm

My first post since a return to BF trading.

are you back trading Rstrach :D
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to75ne
Posts: 2413
Joined: Wed Apr 22, 2009 5:37 pm

boomerang
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Rstrach
Posts: 103
Joined: Thu Jan 19, 2017 12:33 pm

Hi trader44,

Yes i dabble now and then but i am not so regimented and certainly not full time!

Hope you are well!

to75ne... thanks for your positive input as always - must you really waste all 20 seconds digging others out. :shock: :shock: :shock:
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

TBH, the technology is there to allow a definitive proof of claims so that should be formalised somehow. The people that really do it would have everything to gain and nothing to lose.
Danish Bettor
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.
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Crazyskier
Posts: 1157
Joined: Sat Feb 06, 2016 6:36 pm

Bluesky wrote:
Fri Sep 22, 2017 8:15 am
max_usted wrote:
Fri Sep 22, 2017 12:51 am
There is one "risk-free" scheme out there where the trader claims:

"IN OVER 20 MONTHS OF TRADING, I DIDN'T HAVE A SINGLE LOSING TRADE!!!"

HA HA!
He/she is probably telling the truth because during that time they didn't put any trades on :D
...or they perhaps didn't have a SINGLE losing trade, but many thousands of them!

:o
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