Self-proclaimed experts, their lies, and how to spot them in a few simple steps. – My Deal – February 28, 2024

The deceptive world of trading experts: exploiting desperation and manipulating signals

A disconcerting trend has emerged in the labyrinthine realm of financial markets. That is, the rise of trading experts who signal it as the holy grail of financial success. Self-proclaimed experts lure naive traders with promises of easy profits, but ultimately disillusion them and drain them financially. Understanding why trading professionals sell signals, why traders fall for their plans, and why these signals ultimately fail is critical to navigating the treacherous waters of the trading environment.

1. Harness despair:

Traders are often drawn to signals in desperate situations. The allure of quick profits and the fear of missing out on profitable opportunities can cloud judgment and lead individuals to seek shortcuts to success. Trade experts take advantage of this vulnerability by presenting signals as a shortcut to wealth and preying on the hopes and dreams of those who long for financial freedom.

2. False promises and illusions of profitability:

Trading experts perpetuate the myth that signals are the key to making consistent profits in the markets. They boast impressive winning percentages and exaggerated returns, painting a rosy picture of financial prosperity. But the reality is much bleaker. Because signals are inherently based on past data and technical indicators, they are inherently flawed and unreliable indicators that cannot predict future market movements.

3. Error in signal dependence:

By relying solely on signals to make trading decisions, traders fall into the trap of handing over control of their portfolios to faceless corporations that promise riches. This dependence breeds complacency and weakens critical thinking skills, leaving traders without the ability to independently navigate the complexities of the markets. Rather than empowering traders, signals perpetuate a cycle of dependency and disappointment.

4. Illusion of professional benefit:

Trading professionals rarely make money from trading itself. Instead, they profit by selling signals and educational materials to unsuspecting traders. Their livelihood depends not on their ability as traders, but on their ability to promote themselves as providers of secret knowledge and inside information. They pose as successful traders, using smoke and mirrors to create the illusion of profitability and line the pockets of their followers with their hard-earned capital.

5. Smoke and Mirrors:

To maintain the appearance of profitability, trading professionals resort to nefarious tactics such as screen manipulation tools and programs. These tools allow you to manipulate your live trading accounts, manipulating profits and hiding losses from unsuspecting followers. They create the illusion of success, perpetuating myths about their bargaining power and luring new recruits into a web of deception.

6. Lack of verifiable performance:

Crucially, trading experts rarely provide verifiable track records to substantiate their profitability claims. Without concrete evidence of trading performance, traders must take their word at face value. This is a risky gamble in an industry rife with scammers and snake oil salesmen.

In essence, trading experts prey on traders’ desperation, peddling signals as a shortcut to financial success while their followers line their own pockets with hard-earned capital. Traders must exercise caution and skepticism, recognizing that true success in the markets does not come from signals or shortcuts, but from diligent research, rigorous risk management, and a commitment to continuous learning.

So how can we catch it? Have you spotted a fake?

You need to do a few simple things…..

The Smoke and Mirrors of Trading Professionals: Deception and Bias Revealed

In the dark realm of the trading profession, deception and bias are the tools of the trade. When faced with questions about their legitimacy and performance, self-proclaimed experts use a variety of excuses and tactics to evade scrutiny and maintain the illusion of profitability. Let’s take a look at some of the most common excuses trading professionals use when their credibility is questioned.

1. “I don’t have to prove anything to you (excuse), I’m definitely number one.”

This classic bias is the response trading professionals have when asked for evidence of their expertise and profitability. By dismissing inquiries with flippant comments, they try to divert attention from the fact that they lack verifiable track records and credentials. This excuse aims to undermine the legitimacy of the questioner while maintaining the authority of the expert.

2. “I have a trading account with trading history. Look, it’s a real account.”

Some trading experts may claim real trading accounts to prove their abilities to lend credibility to their claims. However, actual accounts alone are not sufficient evidence of profitability. Without a comprehensive and proven track record detailing trades, entry and exit points, overall performance, level of discipline, consistency, risk level and years of experience, traders should remain skeptical of such claims.

3. “I made $20,000 today.”

Trading professionals often rely on cherry-picking profitable trades or highlighting short-term gains to enhance their image as successful traders. By showing individual examples of profitability, you create the illusion of consistency and reliability. However, focusing only on short-term profits obscures the broader picture of overall performance and risk management. They are likely to use manipulation tools/software to create the illusion that they are making money. Screen manipulation tools such as GG, also known as Game Guardian (GG), are widely used among traders, especially on handheld devices.

4. The Guru starts swearing at you because he now feels threatened.

When faced with pointed questions or skepticism, some trading professionals may resort to personal attacks and accusations as a means of diverting attention from their own shortcomings. By shifting the focus from the lack of evidence to the motivations or character of the questioner, they attempt to discredit dissenting voices and preserve their fragile appearance of infallibility.

5. If you are asked for evidence, never hear from them again.

Perhaps the most damning of all excuses, the silence of trading experts speaks volumes. When faced with demands for verifiable evidence of profitability, some experts simply disappear into the shadows, stop communicating, and leave their followers in the lurch. This tactic effectively absolves them of responsibility and avoids the inconvenient truth about their deception.

6. Flash cars, money, property, watches, etc. to make them believe they can do it.

In a last-ditch effort to convince skeptics of their success, dealmakers may resort to displays of wealth and luxury. Through expensive cars, luxurious real estate, and designer watches, they strive to give the impression of opulence and professionalism. However, material possessions alone cannot prove trading acumen, so traders must remain wary of such superficial signs.

7. Overtrading and Marking Profit

Gurus almost always show accounts with ridiculous amounts of open trading, accounts with 5,6,7,15 open positions with ridiculous lot sizes, and claim they are profitable. These are mostly demo accounts that are manipulated to look like real accounts. These practices are techniques to lure you into a deeper hole so they can destroy you and run away with your money. Professional traders ensure that the risk on their account does not exceed 2%, and this (in most cases) corresponds to one trade at a time. The rule of thumb is to prevent danger, and that rule has been a lifesaver for many people. Anyone without discipline, risk management, and understanding of how the markets work will overtrade until their account is blown.

conclusion:

In the dark world of trading professionals, deception and bias reign supreme. Self-proclaimed experts who have mastered the art of excuses and manipulation prey on the desperation and naivety of unsuspecting traders, spreading false promises and illusions of profitability. However, by remaining vigilant and demanding verifiable evidence of expertise and performance, traders can avoid falling victim to the smoke and mirrors of trading experts. In an industry plagued by deception and fraud, skepticism and close investigation are the best defenses against deception.