Chatroom gurus claiming to have $100k days -- total BS?

[deaddog]

It doesn't work that way. There are over 10,000 stocks in the US stockmarket. Like I said, unless the guru was your buddy and was telling you which stock it was he loaded on, you have close to zero chance of finding which one it is. By then, it would be too late or over.

Well you run the scan and narrow it down. Then you have only a few stocks to worry about. Does it matter to you which guru is pumping? You only want to get in on the action.

 

[KCalhoun]

Usually what they do is have 2 different demo accounts. One demo account they go long in large size and the other demo account they go short in big size on the same stock. Whichever one (long or short) is the big winner they post a screenshot of that “Huge Win” and claim it’s “real money”

Right, that's an old boiler room trick (demo or live account):

• guru goes long 1000 shares of POS stock in front of chatroom
• simultaneously, an offscreen confederate goes short in different account (not shown to chatroom)
• no big net profits made from trades
• money made from chatroom subs & overpriced courses
• SEC/FTC compliance violation because guru is selling chat subs/courses using phony "hey I made $100,000 trading profits today" Youtube videos
• Unrealistic/false performance claims
• front-running low-float stocks causes traders to lose; it's unethical pump 'n dump

but SERIOUSLY who in their right fcking mind actually would Believe a stranger on the internet claiming to have multiple $100,000 profitable days trading cheap stocks, without tax return proof? I just shake my head in disbelief. And feel sorry for traders who fall for the marketing bs. caveat emptor

 

[deaddog]

Right, that's an old boiler room trick (demo or live account):

• guru goes long 1000 shares of POS stock in front of chatroom
• simultaneously, an offscreen confederate goes short in different account (not shown to chatroom)
• no big net profits made from trades
• money made from chatroom subs & overpriced courses

But wouldn't the guru have to have a winning trade or two to keep his clients. I'm not buying a trading course from a loser.

 

[Overnight]

...

It is incredibly deceptive and fraudulent to do sim fake trading for commercial gain to get chatroom subscribers...

Here's a question for you.

Have you ever contacted the appropriate authorities on what licensing it would take to run your room showing a real money account?

There must be something one can do so they do not have to have the standard disclaimers.

 

[realtrades]

I think it's real, because if it were not, then they would open themselves up to be charged with fraud, but what they are selling is dreams, as their way of trading is near impossible to replicate without taking huge risks, which they can take as they have thousands of suckers paying them every month, so if they lose the subs offset those losses, and they are always on the hunt for new suckers.

 

[smallfil]

Well you run the scan and narrow it down. Then you have only a few stocks to worry about. Does it matter to you which guru is pumping? You only want to get in on the action.

Numerous traders on Twitter use scanners like you suggest. Their returns are paltry compared to gurus like Timothy Sykes. For one, you do not have student traders buying the exact same stocks and obviously, he bought his shares the day before. So, he is able to put up huge numbers including, his buddy associates. How come his students do not have the same results?

 

[smallfil]

But wouldn't the guru have to have a winning trade or two to keep his clients. I'm not buying a trading course from a loser.

They have numerous winning big trades. He is winning at an 80% clip, maybe, higher. Why do you think they have legions of students signing up? Everyone wants to be a millionaire overnight. He can always say, you paid for a trading education and the fact, you were not good enough of a trader is on you. Try harder. I will give you my advanced courses at a discount. LOL

 

[Millionaire]

As an honest educator.

Are you really an honest educator?

What is your PnL, from trading your own real money trading account(s), in the last 12 months.

You are holding yourself out as an honest educator, can you answer that one honestly?

 

[Overnight]

And there is something else that needs to be cleared up...

The terminology.

There's been so much of this confusion between "sim, demo, live, real" etc.

Here's how I see it...

"Sim" obviously means fake money, but sim can also mean simulated data feed, not live data. But it can also mean live data.

"Demo" can also mean the same thing.

"Live" means real data, but usually means real data with a sim account. I.E. fake money.

"Real"? Here's where it all falls down and gets tricky.

"Real" trading. K...Is it with a sim or live data stream? Is it with real money with live data? That is never really mentioned, because apparently it is verboten.

 

[d08]

I think it's real, because if it were not, then they would open themselves up to be charged with fraud, but what they are selling is dreams, as their way of trading is near impossible to replicate without taking huge risks, which they can take as they have thousands of suckers paying them every month, so if they lose the subs offset those losses, and they are always on the hunt for new suckers.

No agency has time to charge them all with fraud. They could also claim that they only claimed to have made 100k on their demo account (never specifying if real or not). There's thousands of them with fake claims. But the amount of gullible idiots is quite amazing.