Pseudo ‘guru’ and Forex scam: trendsmacro scam avoiding tipsJohannes Röll 21 / February / 21 Visitors: 105
Trendsmacro informs: during quarantine and a log period of remote activities the popularity of trading has grown significantly. A number of traders have their own video hosting channels where they show how they trade and analyze. Typically, these videos are freely available because their purpose is to sell products, services of forex courses or trading schools.
Usually, the process looks like this: the viewer is shown the terminal screen where the trade is being conducted. All those actions are accompanied by the voiceover of the trader.
- He or she explains his actions;
- He or she analyzes the graph superficially;
- He or she opens trades that bring profit over a short distance.
Such "masters" are often called dealers on "demos". Because they do not work in a real terminal, but in a demo account. Quotes are displayed with a delay. It can be an hour or more.
There is a second monitor in front of the presenter, where you can see the current price movement. Based on these charts, he opens trades in the "past" and succeeds.
It is only one of many possible scams standing behind the Youtube selling videos. Sellers of unique strategies are especially good at trading on "demos". They flexibly adapt them to the actual market movement. Trendsmacro Forex broker warns its clients against such videos because they have no practical value and can lead to significant losses.
But what videos are worth watching?
4 categories of Forex videomakers: Trendsmacro review
Breeders. These include those who trade on "demos", stories. There is no good from their training. Paying them is pointless. You will waste time and money.
Theorists. This type of practicing trader has never seen the terminal live. They mostly boast about their success with no proof. You can know them for videos which doesn’t show a single moment of live chart moving.
Former traders. They merged their deposit long ago, forgot what the terminal looks like, but teach others theories. There is a rationale in their lessons, but they still are scammers, because all the information they give is available for free over the internet.
Practices. These people actively trade themselves and share their experience for money. Learning with them can be called the most rewarding. Their approach and analytics really work.
So as you can see, three our of four types are actual scammers trying to get your money for nothing.
Three Promises You Shouldn't Believe
- “Our paid courses, trading robots and brokerage services are 100% efficient.”
- “With us you will get rich in no time.”
- “You will learn the secrets of the market that will help you always trade with a plus in just two days.”
Beware of pseudo guru - Trendsmacro.com tips
The concept of "guru" has long been established in the world of trading. This is the name for super-successful traders whose achievements are amazing. Over time, this term has acquired a negative connotation. Increasingly, gurus are written in quotation marks. And all due to the fact that most of them turned out to be scammers who successfully manipulated the public.
1. The "guru" of the market cycle
They appear before the start of every bullish trend. Usually, the fame about them thunders 2-3 years, until a bearish trend sets in. Typically, every market cycle "guru" has a favorite theory of market behavior. At first, no one notices it. But then it affects the whole trade. The effect of a self-fulfilling prophecy arises. But as soon as the trend changes to downtrend, all the predictions of the market oracle cease to come true.
2. "Guru" of the magic method
They are most commonly encountered when trading futures. And they appear when the world learns about a new analysis method or trading strategy. After all, every trader is drawn to everything that was not there before, and pays a lot of money for supposedly perfect methods of break-even trading.
The "gurus" of the magic method themselves do not engage in trading. They just sell their method. The end of their careers comes when a critical mass of disgruntled traders is gathered. And this happens sooner or later.
Trendsmacro reminds: all super methods work great on history. But as soon as the market changes, they become useless scam.
Often the brand of a Forex school or trading course is a person who allegedly achieved unprecedented success in the Forex market: he earned millions, and then decided to share his knowledge with others. Usually he has his own strategy with a loud name, based on secret knowledge, which he is ready to disclose for a symbolic amount of a couple of thousand dollars.
Trendsmacro.com draws attention: in fact, their success is not based at all on highly developed trading skills, but on gray promotion methods.
Pseudo gurus often come up with a beautiful biography. For example, a guy with no education entered the market and was successful. He’s self-developed. He became a millionaire and put together his team. The legend is laced with photographs of luxury cars, yachts and villas. But actually all this stuff was (or could be) rented for a photo.
According to tip from Trendsmacro.com scam can be anywhere. Always check the information that those strategy sellers give you/
Trendsmacro informs: although pseudo gurus manipulate the audience in different ways, they all have something in common. None of them show how it works on real accounts. All they can do is trade on "demos" or stories.
Trendsmacro scam avoiding tips: how do pseudo gurus earn?
They sell their courses to everyone.
In reality, these hypocritical people are nothing. Even when they are caught in a lie, they do not justify themselves, but begin to humiliate their opponents or get rid of unwanted criticism. They parry: no one forced you to buy courses. And they add: each one of you came to them of his own free will. If you don't like something, no one holds you here.
If you want to know the Forex market, you’d better stick to the real traders. Study reviews, analyze information in free access.
Trendsmacro reminds: the most important skill in the Forex market is the ability to distinguish a scammer from a professional, and find the useful knowledge from garbage. It’s better to access your broker’s educational programs and study from those who trade for years, creating the reliable company, than from some guy with cool profile in social network.
Johannes Röll was born 1978 in Brilon,Germany. Graduated RWTH Aachen University. Over the past ten years he worked as Head of the plastic card team, where he was mainly responsible for the development of the distribution, Head of sales Department and Financial Analyst,where he got experience in planning and support sales figures for branches. For the present he works as freelancer