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Everything that is WRONG with Trading Space on YouTube


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Everything that is WRONG with Trading Space on YouTube

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  #1 (permalink)
 ZB23 
Southern MD
 
Experience: Intermediate
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The image speaks for itself.

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  #2 (permalink)
Shaban
Turin + Italy
 
Posts: 193 since Feb 2020
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Unfortunately, this concept is always relevant:


If someone knows....

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  #3 (permalink)
 thw333333 
Jupiter Island, FL
 
Experience: Advanced
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You Tube is very sad. So many thieves and con men. So many people throwing down thousands to learn garbage from people who can't trade. Honestly, it is depressing but I guess it provides the liquidity we all need. I get angry when I see some little fool who wouldn't know how to mow my lawn and he's got hundreds of people paying him to learn how to trade. One peculiar thing about trading is that you can talk about it for 1000 hours and sound like an expert and yet not impart one truly tradeable idea.

Even some old guys who, in their day, were legendary traders are playing that game. Markets are different now and their ideas haven't worked for years but they ride on past glory and sucker in the newbies.

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  #4 (permalink)
Shaban
Turin + Italy
 
Posts: 193 since Feb 2020
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If it is helpful, scams are described on this Site and some of the protagonists have already been convicted and arrested:

https://www.tradingschools.org/?s=fraud+busted


The biggest financial scams in the world:

https://www.washingtonpost.com/photography/interactive/2022/financial-frauds-ponzi-ftx/

https://money.usnews.com/investing/stock-market-news/slideshows/biggest-corporate-frauds-in-history

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  #5 (permalink)
ubetny
Miami, FL
 
Posts: 1 since Mar 2022
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It has always been that way, it is just more in everyone's face now. That in addition to trading being somewhat "hot" again. Back in the day, these con-artists would hock their courses/lessons at conventions/lectures. Many brokerage houses would rope actual profitable traders into attending, giving these people some credibility. The oddest thing though is how many of these students/sycophants of these furu come to defend them, even while continuing to lose money.

I remember having mercy and reaching out to one of these people I met in the Bookmap discord. The poor guy had jumped around a good 56 instructors. Looked at the guy's history and before even getting into strategy he was over trading and dead set on only scalping 1:1 few ticks, even if he was somehow profitable he would burn out before being able to call it a career. The wild part was, not one of those instructors even brought up any of this.

Long story short, after trying to point him in a direction where at least he might have a shot at succeeding and explaining how so many fakes are preying on people wanting to learn. No more than a week or two later I get a message, "hey what do you think about XYZ they are taking on new students, I might go to a free workshop". I warned him, explained how it was more or the same, even as a last resort showed him how to just buy the course on the black market in fear that he was dead set on it; even wasted my time finding legit forums with negative experiences. Instead of getting a thank you, I was told that I am a negative person, and the networking experience alone might make it worth it, that in life you cannot be negative. Well, that was the last time I ever responded. I think it had to do with cognitive dissonance and people never wanting to admit they are wrong, but hey, maybe I am just negative.

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 Phoenixoboros 
Paris France
 
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ZB23 View Post
The image speaks for itself.

Is such a thing even allowed in the US without proper licence and business structure?

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  #7 (permalink)
Shaban
Turin + Italy
 
Posts: 193 since Feb 2020
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You can be a guru

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