Don't trust trading gurus

Yes, you're right. Is another video about trading fake trading gurus. And if I want to summarize what you will hear from the next for the next, I don't know, five, ten minutes, I have no idea how long it will be. I will summarize it this way. Don't trust what you see, don't trust what you hear, and especially don't trust what you feel. Why I'm saying that if you watch my previous video, I have exposed some of the techniques that these gurus are using to manipulate your emotions. They will let you feel that what they are selling is exactly the solution for your problem. They will first during the seminar amplify, amplify the problem that you have. Or they may even convince that you have a problem that you don't have. And then guess what they will they do well, they offer you the solution, but to let you feel that you have to buy. Now what do they do? They will use all the techniques that I expose in the previous video. And I hope you watch and if you didn't watch it because I think you may save money. And you know, in my video I mentioned this Coffeezilla channel, he recently uploaded another long video where one of these fake gurus was actually. Well, he got a testimonial from a student of one of these fake gurus and the story is pretty bad. You know, this guy is telling how going to these courses affected the relationship with the family, the money lost. So watch it. I will put the link in the description. It's pretty scary what can happen. So that's why I'm doing these videos to create awareness. If you know what they do is less likely will fall for this scam. And sometimes these scams are quite bad because they are not really only okay, you pay a few thousand dollars and you learn nothing. No, sometimes the scam can go to other dimensions. And for example, there is this guy called James Randi. He's an ex magician or he likes to be called conjurer. And his business is basically exposing the fake magician, the fake people that are going there to convince others that they have some magical power of seeking power or whatever. And especially when they claim they can cure you when you have a disease because this is pretty bad. You have people that will be full and they will pay a huge amount of money to these guys, for example, to be cured. And they believe they will be. And eventually they realize when they have given them all the money they have, then nothing happened. So what James is doing is basically exposing this stuff and it's pretty interesting what he's doing because he's also invited to many universities and he's there to share what he knows. And often he starts some. I don't know if you have watched some of his talks. He's speaking on stage holding a microphone. And he's an old guy with glasses. I don't know how old he is now, but I think he's more than 80. Definitely. And then after five minutes he's speaking, he's telling to the audience, well, you know what? What I'm holding in my hand is not the real microphone and the glasses I have are not real glasses. I cannot even see you because they are just empty frames. But the point he's making is basically that people will decide shortcuts. Oh, maybe someone was trying to. To interfere this communication. Anyway, some shortcuts. So when you see someone holding a microphone and he's speaking, you assume that he's speaking with that microphone. But people can be fooled this way. So all these fake gurus or magician or whatever it is, they are exploiting this fact to let you believe things that are not true. And going to the trading gurus. That is what I'm talking about. I want to give you a few more examples so that again, you will be better prepared when you see these things. One that is quite common is that, for example, they are teaching you some strategy and then they show you a video that in theory is a proof, then the strategy works. Now, if you remember what I told you last time about fake testimonials, just because someone is telling that he's making a lot of money with this strategy doesn't mean that the strategy works, right? Because remember, we say it can just be an outlier. And what they don't tell you is what happened for all the other people. They just take the best case case and then they tell you that this is the norm. And this is again another example of what I told you about James Randy, right? You do your shortcut, you see good result, you assume that this is the norm. So when they show you a video of a strategy, ask yourself, what is this video about? There is a guy that uploaded a video showing how the strategy works, and then you probably assume that it works. But what if this guy every day is making videos and maybe the majority of the time the strategy doesn't work, but then the time that the strategy works, then he's uploading the video. It's again the same thing as the fake testimonials. I can show you the one case you don't know how many times he did try to use this strategy and record a video. But you only see the good result and then you assume that this is what will always happen. And then when you feel disappointed because after paying the money you are trading this strategy and you don't get the result that you have seen, then you start to wonder, oh maybe it's my mindset, maybe I'm not really doing something, making some mistakes and so what do you do? Well, maybe, you know, maybe they tell you, well, you know, if you have this problem, yeah, you should buy this course and then we fix it. And then you are sucked in another course that is teaching what you miss to become profitable. And they keep doing that forever. And guess what happened? They get richer and richer and you get poorer and poorer and they are creating fake problem in you just to sell more. It said, yes it is, but it's happening. So you need to be careful. And always remember, don't trust what you see and what you hear and especially what you feel. Because these people are very good in let you feel what they want you to feel. And another one that can happen and this is not just for trading, but different gurus, you know, sometimes they show you picture of the results. They may say, oh look, I started to use this strategy and this is my account and this is the money I'm making. Now again you're doing assumptions. You assume that what you see is true. But you know how many cases there are of people that basically were eventually and then what they were doing was basically modifying maybe with Photoshops or other softwares the results so that what you see is not true. This is what they are showing you. But you have no way to know if that is true because I can make a picture showing that I made hundred percent last year. But is it true, is it verified? No. You are sitting in a course looking for the way to make the money that they are telling you can make. And when they give you the proof, you probably will not question the proof, but you should. So what can you do? Well, I give you this one suggestion. Next time you go to a course, a free preview and they are showing because they will this result testimonial and maybe they show a chart that is saying whether we made 100% last year or whatever. Then ask them a simple question. You ask them, can you login now to your trading account and showing me I want to see now live. Show me the result, show me the profit and loss curve, not the picture I want to see from your trading account. I want you to log in and show me that. And I tell you, the majority of people will not do that. And then they will find excuses like, I don't know, privacy or other bullshit. But the fact is that they probably are lying to you. The results they are showing are not true. Why? Because guess how they make money. They make money not because of what they teach, often is true or is working, but because of people that buy those courses. That's the main source of income. You know, again, it's like. It's like what I told you about James Randi. You assume things. You see this guy very rich, and then you assume that they are rich because of what they teach works. But no, they are rich because people that go to courses pay for that. You know, it's very funny if you start to think about that, how many things that you assume are true actually are not. You know, a famous example is McDonald's. You think that McDonald's is making money out of the burger. They say, no, the main source of income is real estate. But many people don't know because they associate McDonald's with selling burgers. So they assume that this is how they make money. And the same is with these gurus. They are there to sell courses. And you think that they are making money because what they sell works? Well, no, Actually, no. Remember, I tell you again, do not trust what you see, do not trust what you hear, and even more important, do not trust what you feel.