I thought I’d write a quick few things about FX “guru’s” that may appear on such sites as Instagram advertising their services.
Now I’m not saying some aren’t genuine because Im sure some are phenomenal traders and mentors.
The main thing I’d look out for is their age. If you have some 19 year old guy who’s just dropped out of college and claims to have made a $million then there’s only really a few conclusions to draw.
Either Daddy gave him a few million to start with or they’ve used insane position sizing which we all know is really akin to gambling not trading.
Definitely do some investigating before you start trading someone’s signals and advice.
Or even better take the time and make your own trading plan.
HA so true, we have a trader on my other forem that claims to have found the holy grail, his post life story of six months ago aside from a difficult life he was homeless.
And of course now is saved by the this holey trading grail and $2,000 he wants to mentor you…
Business based on information, including lectures and so-called education becomes more and more popular nowadays. It happens in many sphere, so why there should be not the same in Forex?
Those, who are professional traders, might start education only when they have their own trading company to be able to delegate routine tasks to get free time for educational purposes. At the same time, if the “guru” spends most of the time on the social network promotion, you should make appropriate conclusions on his trading skills.
If want to invest in your trading, it will be better to buy books about trading (of course, we talk about serious books, not those written by “gurus”), or necessary software (for example, backtesting software like Forex Tester), or just upgrade your hardware to increase the performance. Each of these ways to spend money will be better than purchasing “educational courses from gurus”.
Good thoughts; same observations from me; you may see there have so many successful traders on social medias; they are basically good at Photoshop not in trading.
People should be very careful with self proclaimed gurus and other sort of experts offering huge money overnight. Forex is about discipline, learning and practicing and there is absolutely no easy or short way to become successful trader
purtle, I deleted the guy, his data was as you may expect great and he had one student that appeared to be doing well. That sad he and his co-conspirators have be identified and removed from any further access. This was not on BP but another site.
its a very nice topic,I started trading by a Fx Guru but after passing a time , i invent him as a man of little knowledge in Fx , i spent lot of money and time on him due to lack of knowledge. it Fx Guru in order to me.
Getting all that cash and don’t even have the latest device. Shame on these mere mortals. The forex gurus or gods all make me laugh. Especially the ones that brag showing you rented vehicles and properties. D
