Self proclaimed gurus, their lies and how to spot them in a few easy steps.
The Deceptive World of Trading Gurus: Exploiting Desperation and Manipulating Signals
In the labyrinthine realm of financial markets, a disconcerting trend has emerged: the rise of trading gurus peddling signals as the holy grail to financial success. These self-proclaimed experts lure in unsuspecting traders with promises of easy profits, only to leave them disillusioned and financially depleted. Understanding why trading gurus sell signals, why traders fall for their schemes, and why these signals ultimately fail is crucial in navigating the treacherous waters of the trading landscape.
1. Exploiting Desperation:
Traders are often drawn to signals out of desperation. The allure of quick profits and the fear of missing out on lucrative opportunities can cloud judgment, leading individuals to seek shortcuts to success. Trading gurus capitalize on this vulnerability by presenting signals as a shortcut to wealth, preying on the hopes and dreams of those yearning for financial freedom.
2. False Promises and Illusions of Profitability:
Trading gurus perpetuate the myth that signals hold the key to consistent profits in the markets. They tout impressive win rates and exaggerated returns, painting a rosy picture of financial prosperity. However, the reality is far bleaker. Signals, by their very nature, are based on historical data and technical indicators, making them inherently flawed and unreliable predictors of future market movements.
3. The Fallacy of Signal Dependence:
Traders fall into the trap of relying solely on signals to make trading decisions, relinquishing control of their portfolios to faceless entities promising riches. This dependency breeds complacency and erodes critical thinking skills, leaving traders ill-equipped to navigate the complexities of the markets independently. Rather than empowering traders, signals perpetuate a cycle of dependency and disappointment.
4. The Illusion of Guru Profits:
Trading gurus rarely make money from trading itself. Instead, they profit from selling signals and educational materials to unsuspecting traders. Their livelihood depends not on their prowess as traders but on their ability to market themselves as purveyors of secret knowledge and insider tips. They masquerade as successful traders, using smoke and mirrors to create the illusion of profitability while lining their pockets with the hard-earned capital of their followers.
5. Smoke and Mirrors:
To maintain the façade of profitability, trading gurus resort to nefarious tactics such as screen manipulation tools and programs. These tools allow them to manipulate live trading accounts, fabricating profits and concealing losses from unsuspecting followers. By creating the illusion of success, they perpetuate the myth of their trading prowess and entice new recruits into their web of deception.
6. Lack of Verifiable Track Records:
Crucially, trading gurus seldom provide verifiable track records to substantiate their claims of profitability. Without concrete evidence of their trading performance, traders are left to take their word at face value, a perilous gamble in an industry rife with charlatans and snake oil salesmen.
In essence, trading gurus prey on the desperation of traders, peddling signals as a shortcut to financial success while lining their own pockets with the hard-earned capital of their followers. Traders must exercise caution and skepticism, recognizing that true success in the markets comes not from signals or shortcuts but from diligent research, disciplined risk management, and a commitment to continuous learning.
So, how do we catch them? Spot a fake?
A few easy things you need to do.....
The Smoke and Mirrors of Trading Gurus: Unveiling Deception and Deflection
In the shadowy realm of trading gurus, deception and deflection are the tools of the trade. When confronted with questions about their legitimacy and track record, these self-proclaimed experts employ a repertoire of excuses and tactics to evade scrutiny and maintain the illusion of profitability. Let's delve into some of the most common excuses used by trading gurus when their credibility is questioned:
1. "I don't have to prove anything to you,(excuse), is definitely number 1"
This classic deflection is the trading guru's go-to response when pressed for evidence of their expertise and profitability. By dismissing inquiries with a flippant remark, they attempt to deflect attention away from their lack of verifiable track records and credentials. This excuse aims to undermine the legitimacy of the questioner while preserving the guru's veneer of authority.
2. "I have a trading account with a trading history, look, it's a live account."
In an attempt to lend credibility to their claims, some trading gurus may point to a purported live trading account as proof of their prowess. However, a live account alone is not sufficient evidence of profitability. Without a comprehensive and verified track record detailing trades, entry and exit points, and overall performance, discipline level, consistency, risk level, and level of experience over years, traders should remain skeptical of such assertions.
3. "I have made $20 000 today, "they say"
Trading gurus often resort to cherry-picking profitable trades or highlighting short-term gains to bolster their image as successful traders. By showcasing isolated instances of profitability, they create the illusion of consistency and reliability. However, focusing solely on short-term gains obscures the broader picture of overall performance and risk management. They most likely use manipulation tools/software, to create the illusion that they are making these profits, screen manipulation tools like GG aka Game Guardian is used broadly amongst traders, especially on handheld devices.
4. Starts to badmouth you because the Guru is now feeling threatened.
When confronted with probing questions or skepticism, some trading gurus may resort to personal attacks and disparagement as a means of deflecting attention from their own shortcomings. By shifting the focus away from their lack of evidence and onto the questioner's motives or character, they attempt to discredit dissenting voices and preserve their fragile facade of infallibility.
5. Just never hear from them again if proof is requested.
Perhaps the most damning of all excuses, the trading guru's silence speaks volumes. When faced with demands for verifiable evidence of profitability, some gurus simply disappear into the shadows, cutting off communication and leaving their followers in the lurch. This tactic effectively absolves them of accountability and avoids the inconvenient truth of their deception.
6. Flashing cars, money, properties, watches, etc., to get you to believe they can do it.
In a last-ditch effort to persuade skeptics of their success, trading gurus may resort to ostentatious displays of wealth and luxury. Flashing expensive cars, lavish properties, and designer watches, they seek to create the impression of affluence and expertise. However, material possessions alone are not proof of trading acumen, and traders should remain vigilant against such superficial displays.
7. Overtrading and showing profits
Gurus will mostly always show you an account with a ridiculous amount of open trades, 5,6,7,15 open positions with ridiculous lot sizes, and claim they are profitable, These are mostly demo accounts, manipulated to look like real accounts, all these acts are techniques to lure you deeper into the hole so they can destroy you, and run with your money. A professional trader will never exceed more than 2% risk on their account, which (in most cases) equal to one trade at a time. The rule of thumb is to prevent risk, and that rule has been the lifesaver for many. Someone without discipline, risk management and understanding of how the market operates will overtrade until the account is blown.
Conclusion:
In the murky world of trading gurus, deception and deflection reign supreme. By mastering the art of excuses and manipulation, these self-proclaimed experts prey on the desperation and naivety of unsuspecting traders, peddling false promises and illusions of profitability. However, by remaining vigilant and demanding verifiable evidence of expertise and track record, traders can safeguard themselves against falling victim to the smoke and mirrors of trading gurus. In an industry plagued by deceit and charlatanism, skepticism and scrutiny are the best defenses against deception.
