Creepy Stock Market: DO NOT fall for trading scams on dating apps!

Welcome to this video on scam, especially scam on dating apps. Why do I want to tell you about that? Well, there are two main reasons. Number one, unfortunately scam investing scam on dating apps is becoming more and more popular. Second, I want to share with you a story about something that happened to me so that hopefully this will help you avoid scratching such situations. But before going to the story, I want to show you something that I found online. First there is this website is a Singaporean website and living in Singapore. That's why I'm showing to you. This is relevant probably to the story as you will see later. And here they classify the types of scam. And if we click here, you see there are many. We look at investment scam and they have the number of cases reported and estimation of the money lost. Here they say something interesting. Many of them are online trading scam, especially binary options. So it's when people for example in a dating app, they convince you to do some kind of trading operations, okay, very risky and very likely we lose money. And here you have stories of people, see this One I lost thousand two investment scam, this one 40,000. And then you have a long list of stories that you can check. I will put the link in the description if you are interested. But then when you look online you find more. There is this article for example saying that as I say, dating apps are becoming full of these scam that are basically pushing people to make risky trades. And this is from Reddit is a post saying that they use this website and the guy was chatting with a woman in Hong Kong and then she wanted him to do some kind of bitcoin futures operation. Now the reason why I want to tell you about that is that I was using one of these dating app and then I found some kind of correlation, let's say between some type of profile and potential scam. So I want to tell you what happened. I was speaking with one of these girls and usually from if you use this website from this service from Singapore, I found a first thing is that most of them are from Hong Kong. So this is a first, I would say warning. And what happened in my case is that I had this series of observations where I found that people from there, from Hong Kong, where they put very nice pictures and profile and then they start to speak with you often at the beginning they want you to move out from the application and maybe exchange numbers so you can speak on WhatsApp or WeChat or whatever they use. And when you do that, very quickly the conversation the conversation will move to investing. And there it really depends. I've seen people that start to speak about futures and Bitcoin and then other trading forex and. But the top one is penny stocks in Hong Kong. Penny stocks is stocks that are trading at very, very low price. And it's very funny that immediately now I can tell you if someone is part of this group because it's very easy to classify these profiles. Now Hong Konger, very good looking from the picture, asking you to move out from the application you're using to exchange number and chat with some other WeChat, WhatsApp. And then another thing they have in common is that they often mention that they have some kind of friend or uncle or whatever who is an expert and is giving them some tips. This is another common point to note out. And so I want to show you something that happened with one in particular that was quite interesting. This one was about penny stock. So I was chatting for a while and then she was telling me, okay, you can invest in this. I got these tips and another one and basically all of them were penny stocks trading at very low price and they are very pushy, you know, this one was keep asking me to send screenshot because want to make sure that I did it. And then I was like, okay, why do you want to see what is the benefit for you? But we come to that later. So eventually she suggested this stock that I want to show you here is In Hong Kong, 8316 is a ticker. When she suggest me that the trading price was here. So she told me, I remember the trading price was 1.26. So we were around here and she was like, oh, it's super safe. You can put all your money on that. I will also do the same. I know that it will go up 100%. Sure. So all the possible red sign that you have. So what did I do? Well, I say fine, I will do that. And I did it, but I did it on my demo account. So I placed a trade, but it was not real money. Now what happened? Well, you can see from here, the same day from 126, the price went to 0.38. And if you look now let's check from 126 to the current price, the drop was more than 90%. Can you imagine if you follow the advice and you put all your money in this stock, you would have lost 90% of your money. So what is the idea here? The idea of this kind of trades is a scam called pump and dump. So what happens there are some penny stock and some people they contact as many people as possible to buy, right? So they buy stock at cheap price and then they convince people to buy a lot and then you can see the price goes up, up, up, up, up. And then eventually when they have enough people that bought, they decide to sell all the shares they they got at a cheap price and so the price goes down. So what happens is that they make money because they buy low and they convince you to buy to push the price up and then they take profit and you remain with your stock and a big loss. And the thing here is that they can do that because of penny stock because it's much easier to do things like that when stocks are not huge company where there may be also institutional investors or the big guys. And at the same time the price is low. So you can buy a lot of shares. But you can see that this probably something similar happened here as well, right? And the funny thing is that after this happened then I was like, okay, what happened? And then basically the person didn't reply for a few days and then I got the message and I said that was like, oh, you didn't really place the trade. And I don't know how she can know that. Maybe because they know exactly how many shares are bought and when I say I will buy this amount, they didn't see the corresponding volume or increase of price and eventually I didn't hear from that person anymore. So what is the point here? The point is that first, you need to be very careful when you trade following suggestions from people you don't know and especially when this is coming from these dating apps. Second, I am from Singapore, so probably the type of profile I shared with you before that I will summarize in a few seconds does not apply. But something like that may be found in other places. But if you are from this area and I think in the Southeast Asia, this profile is something that I've seen again not just one, two times, but maybe 10 or more times is someone girl from Hong Kong, very nice pictures asking you as soon as you start interacting to leave the chat and move to WhatsApp. We chat or other other chatting software saying that they, they have some friend or uncle or whatever who knows how to trade. They make a lot of money. They can even send you information screenshots showing that they make million and million. Oh. Another interesting thing is that often when you ask to meet these people, they often say something, oh, I just left or I will leave tomorrow, sorry, I cannot meet so every time it seems that this happened is a nice coincidence, isn't it? Every time they say, oh, sorry, I just left the country, or I will leave tomorrow in a couple of days and I cannot meet you. Right. So it makes sense. Because if it's really a scam, of course you cannot meet the scammer. Yeah. So that's what I wanted to share with you. I hope that this will help you avoid these situations. And remember, trading involves risk. So don't be fooled by this kind of suggestions, by greed and fear of missing out. And remember, just follow your strategy and don't be influenced by what other people say. Especially if you never met these people, you don't even know if they are what they say they are. Thank you again for watching. If you like this video, subscribe and see you next time.