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The "they're sociopaths" explanation has been mentioned in this thread before and it makes a lot of sense. I'm convinced :)

There are plenty of "guys" (I think they're rats actually) who have websites, trading rooms, etc. who claim that you need 10,000 hours of "screentime" to master their awesome method. The only problem? Their method doesn't work, their claims are fake and they don't even trade. So there doesn't...

Meh. I note the recurring "what did you expect you lazy/dumb/greedy bastard?" theme. It does have merit if we're talking about someone who's been around the "trading scene" and understands "what's up" but not necessarily for newbies that "educators" tend to prey on. If you go to a bar tending...

I really don't get the logic of blaming the victim. A victim who's not a perfect human being (however you happen to define it) is still a victim.

Of course you're free to feel however you feel. Yes, some victims are lazy. Some are dumb. And some are both. Yet, some are neither. But they are all still victims. And personally, I feel sorry for every single one and I feel no one deserves to be scammed.

CFTC and SEC do enforce but lack resources to do so on any meaningful scale. It's a low priority. And honestly, they're probably right to have it as low priority because there are bigger, more dangerous frauds such as telemarketers raiding senile senior citizen life savings for fake funds...

That doesn't answer it because I'm an American too and I feel differently. There's nothing wrong with money per se. Or wanting success. Or capitalism - which is the greatest system humankind has managed to come up with after millennia of literally bloody trial and error. It's not perfect but...

What they are doing is certainly a crime - fraud to be more precise. The SEC and CFTC just don't have resources to prosecute even 1% of them and they know it. It pisses me off that they get away with it just because the agencies tasked with enforcement are short on resources. I feel bad about...

Plenty of good, ethical, responsible, competent, intelligent people (and organizations!) become victims of all kinds of crime every fucking day. To assume that every victim is inadequate in some way and in some way "deserved" the crime is so fucking dumb. And even if the victims were dumb or...

So identity thieves provide a service. It's not fraud because if we weren't so greedy we wouldn't develop all these options to get credit cards, loans, etc. They just remind us to cut back on our greed and materialistic consumption. They're teachers, not criminals. Got it. Robbers are service...

Preachy victim blaming nonsense. There is absolutely nothing wrong with wanting to become successful. As long you go about it ethically. And that's key. Fraud is wrong. Theft is wrong. Hurting others is wrong. Also, as I said I lost almost nothing in terms of money to these vermin - I lost only...

Of course I can blame them. I think a better question is: how can you not?

To think of how much losses the retail trading industry as a whole inflicts on the middle and lower classes... The money lost trading, the money wasted on scam education, the money invested in people with false track records, the money spent on charting and data, the money churned by brokerages...

I understand the sociopath aspect of the scammer, that's a great point. It's just hard for me to empathize with that if you will or imagine what he feels like. Like is he feeling anything when he's e-mail a false track record to the potential sucker? Or when he's fudging his calls in his "live...

Sounds about right. What's $5K when he nets 5 ES points per day every day? And pretty soon you'll trade 2 contracts and then 4 and pretty soon you'll be 90% of ES daily volume and a in year you'll have all the money in the world. What's $5K?

There are two reasons why there so few legit educators: 1) Trading successfully is incredibly hard for a retail trader. Very few reach that level. 2) Once someone does reach that level they're economically DIS-incentivized to disclose it. So the economics of this just does not work.

Plenty of scammers have written books precisely because you put book writers into a different category - adds a lot of legitimacy. Many publish articles in trading mags and advertise in the classifieds in the back of the same mags. It's all (99.95%+) a fucking con.

Hahaha! Fraud is not free market. I'm very libertarian but fraud is fraud. I don't think it's above 99.95%.

fails the italian cars test...

Retail traders are desperate to find something, anything that works. They're not looking to get scammed. I don't think anyone deserves to get scammed.