If you have been trading for any amount of time and have searched for trading information then you have seen tons of offers from people who don’t trade. (Scam Artists) They claim they make their living from trading but in reality the only money they makes is from selling their courses. They litter my Twitter, Youtube, and Facebook feed with their ridiculous ads trying to selling their courses (Looking at you Jason Bond and the scam you are running). There are so many that the rest of this article could be a list of them. If you want a site that reviews some of them then go check out www.tradingschools.org.
I’ve been researching drop-shipping and started programming so I’ve seen the same tactics used. I am used to the scam artists and can now spot the people who don’t make money from their profession, only by selling their courses. Programming is a little harder to scam people (boot camps) but drop-shipping has the scam artists out in full force. It isn’t as bad as trading but you can spot them easily. Here are some signs that the “guru” is a scam artist:
- They call themselves a guru
- They offer a “Mastermind Group”
- Spends a ton of time advertising their course on social media
- Normal price of course is thousands of dollars but for the next 48 hours it is only 80% off the normal cost
- Only have a limited number of spots left for their course
- Never any proof to backup their claims
- They try to give life/career advice but they are 20 years old
- Claim they were broke and desperate before they became a millionaire by following their own system that they are trying to sell you
- Claim they’ve made millions yet they are selling their course for only hundreds to a couple thousands of dollars (Client’s are a pain in the ass so why would you want them if you are already making millions)
- Claim they want to give back and “help” people (for thousands of dollars of course)
I have no problem with someone selling their services IF THEY ACTUALLY MAKE MONEY! That is the problem, almost all of the people selling their courses/services don’t make money in their profession and they won’t provide any proof. I still recommend to this day if you are going to spend thousands of dollars on a trading course then do this instead:
- Open up an account to trade the ES minis
- Put all of the money you were going to use on the course in that account
- Trade that account until you blow it
- Keep a log of every trade and review it (why you entered, why you exited, emotions felt, what you were looking for)
- Review all of those trades over and over again
I guarantee you that you will learn A TON more doing that then you will have from paying a scam artist. You’ll be one step closer to figuring what works for you. You are going to lose your money with the scam artist’s course. Then if you trade trying to follow his/her crappy system you’ll blow the account since it doesn’t work.
You have to be the creator of your trading style. You can gain info from others on what helps to shape your trading style but at the end of the day you have to own it. No one else can.
