Forex newbie copying Instagram trader

Hi guys,

Thank you for welcoming me to this great forum.
I’m a complete newbie when it comes to Forex but could do with some advice if possible?
I decided to join an Instagram trader named Kez The Guru. Has anyone here come across him before? I deposited £350 into a BD Swiss partner account to start with and then joined a group to copy his signals. My first week I made a decent profit so invested a little more and now lost a huge chunk of my money. I’m doing one of those 60 day trials to see if it is for me? I noticed when I place small trades I seem to do ok but as soon as I raise my stake it all comes crashing down and lost it.

My thoughts are to complete the trial and see if it’s worth it but wanted some feedback from you guys and whether it’s a scam or legit?

Thanks for reading

Don

Did you choose the broker bdswiss?

That was the broker he suggested and sent me a partner link.

I was afraid you would say that. Hes making money via commissions for you trading through his affiliate link. So he wont care if you make money or not. The more you trade the more he’ll make. The bigger you trade, the more he’ll make. When your account blows, he’ll make up an excuse send you some free rubbish and get you to try and add more. Dont deposit anymore and risk the minimum or just demo trade it to see if he it actually works.

Secondly, if he ever stops sending signals, you will not be able to make a living. Educate yourself and learn to trade.

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Thank you for your kind reply.
You’re right there. The only good thing I’ve done is learnt how to use the Metatrader app and know how to set stop losses and set take profit.
I do like to educate myself when it comes to learning something new so just need to find a course a decent broker and then give it a go myself and see what happens?
Is there any place you recommend to start? I’ve watched a few videos on YouTube but you get bombarded with stuff.
Many thanks

Don

Hi don,

I’d recommend this thread to start educating yourself. It includes a link to the babypips course. At the same time you can start testing on a demo account. With self education I find the best way is start slow and start basic, then patiently learn more and more advanced stuff. Its xmas period so markets are slow and closed few days. So I would take the next 2 weeks off to study.

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You’re so kind. Thank you for helping me.
I will give it a try.

Merry Christmas

Don

Trader is right , every so called Gurus are fake traders who would not know a RSI if put in front of them. They prey on the newbie to get as much money as they can before you twig its a con.

If a trader offers advise and is not looking to charge anything they are normally legit as in it for the love of the trade and make their money from the markets not from conning people.

Sign up to a good broker and use the demo with a single plan for 30 days and see if you are right, stick to rules and invest in yourself. All the so called educators wind me up as 99% are not real.

Keep your chin up and have a great Christmas

Kind Regards

Langers

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Thank you Langers.

You too. All the best for 2020.

I’m going to finish the trial run and see how much profit I make if I make anything at all, worst case I cut my losses as I wouldn’t miss £350 too much but won’t be paying for signals that’s for sure.

Have a great one , if stuck happy to look at your charts before you pull the trigger.

Have a great break

Much appreciated thank you

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I wish this thread can be a sticky one so that a lot of new traders can learn. So many instagram con artists out there. Educate yourself or else fall victim. Ignorance is not an excuse.

Very true Melvic , I never understand the reason why so many fall for the fakers. Is the world that dumb

Melvic, I support your proposal. This is only one of many cases where new traders have been tricked by professional scammers. You can find these guys everywhere on the net and social networks. Next time just say no, thank you.

Nice plan dude

hi , i am new here , i thought i would give my view on some traders , i am trader who is making money from forex , not loads because i just dont have the capital …YET !, and i dont mind sharing my trades because its nice to have interaction with people interested in the same thing as me, the guy (Kez) might be a scammer because as other peoples posts have said that he gets commission from a broker so i guess his motives are to get you to spend money with his broker . Anyway not all traders are scammers and some like myself are still early on there trading career , like to have interaction and comments on trades ect so you might find a genuine trader to follow , i think depositing money into someones account should raise alarm bells though , i would have to really get to know the guy before i did that and i still might not do it , best just copy his trades on your own platform . anyway all the best and good luck to everyone -steve