Thomas Kralow. Scam or not?

Trading Discussion
1

Hi Daniel here…

I’m new here. Apologies for my English.

I’m tired of guru traders already… but… There is this guy, Thomas Kralow.

Does anybody know anything about this guy? Did somebody bought his course?

I’ve been following him in Youtube. Yes, he has some of the called red flags, but in the other side he has very solid arguments about Trading.

He has a disclosure performance of his two last year of trading with Interactive Brokers… but I think they could be photoshopped .

I don’t post a link to his page because i don’t know if I may be breaking any rule.

He offers a course with a 30 day, full refund.

It’s the first time in my life that i’m really struggling against the idea of not buying a course.

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Hi Spin, and welcome to the forum.

Some advice.
1 Start reading School of Pipsology to learn some basic stuff about Forex and Forex trading
2 Don’t ask forum members about specific gurus. Do some browser research. Remember the adage “if it looks too good to be true, it usually is”
3 All gurus are right sometimes. Even a broken watch tells the right time twice a day.
4 If the guru’s track record is based on a continuous trend, it is as sure as day follows night that shortly after you join his group, the market trend will change. So has his track record been obtained in bull, bear and choppy markets?
5 Those who tell the most outrageous lies are often the ones who make the most money because their potential customers just want to believe there is a magic formula to follow. In reality, it is dressed up in coveralls and looks like hard work.

Good luck with progressing the Forex knowledge.

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Hi Mondeoman;

Thank you for your time and answer.

I did a lot of research but it seems to not be a single negative review.

What it does confuse me is that he is against others guru traders. I mean, he doesn’t say the same things. In fact he says the opposite.

“Trading is not easy”, “I can assure you that you will loose money at some moment”, “Forex market it’s nearly a scam”, “Technical analisis is only like 20%”, “Fundamental analisis, risk management and trading psychology it’s what is about”…

I mean, it’s like a reverse psychology that he is using or maybe he is legit. That’s why I opened a post.

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Hi Spin,
That is a good outcome. I am not advising to avoid him, or any other option. It is just that I have found all the information and advice I would ever need to become the best I can in Forex trading starting with re-joining this forum after an absence of some 5 or more years, and from there following up on members’ recommendations.

It would be wrong of me to direct you to a series of URL links because the material needs to be learned in sequence, and to the end user’s rate of learning. If you pay anyone for a course, there is nothing wrong with that. I did it myself in 2010 and did not regret it. But for context, I already had two businesses creating income and wished to add Forex as another potential income stream. That may not suit most new members on here who struggle to find funds for their account. let alone pay for Forex advice.

So I encourage you to continue actively participating in this forum. Learn how much to study, how much to question and how much to get experience (with a paper trading account) and you will determine your own path to success, not that of one of thousands of trainers or gurus who may mislead you in one way when you can find hundreds of ways that could work just as effectively.

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Not heard of him and if anyone wants to drop a significant amount of $$$ on a course that they could learn on their own FOR FREE, then that’s on them. Not to say all of these people are scams or that you’ll never learn from them, you just might but I’d be wary if it involves a single person and a good chunk of $.

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Hi again,
I decided to do some browsing on this guy. See video below. I doubt he is useless. However the subject matter of his video is sadly on the increase. Almost all the successful influencers I have decided to follow on Youtube have the same problem - scammers using their good reputation to catch unaware newbies into some form of scam.

If this is the real Thomas Kralow, he could not possibly be a scam. He is a German who speaks perfect English. What is not to trust?

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:joy:

You’re so nice @Mondeoman! To even look this guy up and give your feedback! Bless!

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Once again, thank you for your time an replay.

You will have to forgive me. Because as i Stated in my first post, English is not my mother tongue and despite i understand wverything i read, it’s complicated for me to catch sarcasm, jokes and that kind of things…

I suppose that at first you give him the doubt of being real “I doubt he is useless”, but then you said “He is a german who speaks perfect English”

I kind discern that there is a joke there that puts him on the scam side maybe?

For what I know he is from Stonia, then move to New York and now he is in Dubai.

I reach this forum and asked that question because i thougth nothing was wrong with that, because the first post i had read from this forum, was from people asking of Anton Kreil. That was the topic that led me to ask about another trader.

I don’t see any problem to pay for information/education, but I don’t want to be scammed. I know there is a ton of information about trading out there, and i’m not searching for a magical rule or strategy on trading… what i’m able to pay for is for “packaged” information.

And what i mean for “Packaged” (sorry again for my lack of vocabulary/ideas) information? I mean, information that can be processed in the correct way and from the begining to the end… from the very first steps to the last ones… and believe it or not is something that i’m struggling to find. I mean, it’s like learnig Math, you can’t do polynomial equations if you don’t understand before the Math rules for addition for example.

By the way, you said that you paid for a course and you don’t regret it… could you tell me the name of the course for me to do some research?

Beforehand, I want to say that if any sentence of this message sounded like a rant or angry or wathsoever. it was not the intention. NOT at all.

I am clearing doubts. Lots of them.

I appreciated all the answers in this thread.

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Sorry, I re-read this and reached the conclusion that maybe i’m some kind of a stubborn with this guy Thomas. Maybe want to believe at all cost.

I’m kinda messed up. I will have to breath two times and try to see this from another prespective. I don’t know why i’m so focused on this guy.

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Sorry Spin
I meant the opposite. I think he is a genuine guy, not a scammer. And I meant it about his English. Being English myself, it tends to make you lazy not to learn a second language, so I have huge admiration for anyone whose English is their second or third language. By the way, your written English is really good. Keep it up.

About my own trading in 2010 I paid about GBP 2,000 to attend a weekend course in London run by Greg Secker - an ex trader from Mellon Bank New York who retired at 29 with about 20 million pounds. He set up his course and he is still training people. With hindsight, I think the material was incredibly compressed, but there was after course support for six weeks with traders who knew what they were doing. I am still finding things he taught that I did not understand for years, and now they are starting to make sense to me only after a lot of actual experience trading and investing. I have read a lot about Anton Kriel and have watched many Youtube videos about his exploits. I’d say he is a very serious trader and if I read more about Thomas Kralow, I would probably come to the same conclusion.

About six months after I did the Greg Secker course (which largely concentrated on UK stock trading, I started to think that Forex could be more productive than UK stocks, so I then paid only £300 to attend another weekend course in London, from which I gained far more information than the £2,000 Greg Secker course. But of course, as you relate about mathematics, I got the basics from Greg Secker, and had done about 200 trades before I did the second course about Forex. I proceeded with about 400 or 500 trades during the next nine months thereafter, and the overall result was a bank loss of about £1,300. In accordance with my plan, which had hard milestone dates by which certain deliverables had to be completed, I had not demonstrated an edge in my trading so decided to stop trading. If you ever believed in Karma, this was my Karma moment. I withdrew £3,700 from my MF Global trading account three days before they went bankrupt and did not suffer at all from their global fiasco. I heard traders lost tens of thousands from their account because MF Global had failed to isolate their client funds from their own funds and their auditors “did not know where 100 million dollars was”.

Lesson learned. Make a plan and stick to it.

I would not discourage you from paying for a packaged course. I was and am used to paying £2,000 for a one week course to maintain the currency of my certifications in project and programme management, and have also spent thousands on IT courses in computing, networking and cybersecurity. All pursuits have costs, and I have never finished any course thinking it was a waste of money. No regrets. Best of luck with those decisions.

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Really I don’t know how to thank you enough for your answer.

Thank you.

I will accuire all the information you gave me and do my research about it.

I promise one thing. If i buy the course of Thomas in the future. I promise to come back to this thread to give my sincere opinion about it. From A to B.

In the meantime I will continue search info in this big platform.

Thank you for your welcome.

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Whoa!! Never heard that phrase before. I like it! Haha very wise

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Hey! Found this thread and decided to respond. I have taken many courses before but the one Thomas is offering I liked the most.

A very realistic approach that makes total sense, finally. Something that lacked in other courses - system. Now I know to do what and when.

However, keep in mind that it still will be a lot of work. Its not easy regardless of whom you learn from. Thomas will give you a boost like no other but you will be the one in charge of your trading. And thats something that Thomas is really good at preparing you for.

Lastly, it seemed like a fresh breath to listen to someone who does not promise you something impossible. All the regular bs that I constantly see in ads from other educators.

Hope this helps!

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Hi Spin,
How are you getting on with your Forex pursuits? Thomas Kralow now interrupts my Youtube videos quite regularly - even when I am watching non-Forex videos. So he must be doing something right. I just wish he did not show a Rolls Royce speeding down the road as his intro. Sort of makes him look like the other dream makers.

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the thomas kralow thread on forex peace army suggests thomas kralow is one to avoid defo worth a read seems an open and shut case!

just search for thomas kralow forexpeacearmy looks like there are many man unhappy students

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Hello!! I’ve read your reply and am so interested. I’m very new to trading. My first experience 2 years ago had me use a scan platform buying crypto and I lost $2400. Years later, now, I have found a good trusted crypto platform as well as a trusted platform to self trade and now I would love to learn more about day trading. I’ve been to a financial advisor and aside from try and sell me life insurance all they suggest is buy the ASX 100, something I’ve done, but would like soid information on which course if best to learn day trading.
Also that guy seems to be a scam from the reviews
Thank you in advance

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Hi @aussunny,
I am glad you did some more research, and concluded you did not want to participate in the paid trading education by Tomas Kralow. That is not to say that he is good, bad or indifferent. For my own sins, I paid about £3K for a Greg Secker course over 10 years ago, but I am not sure I would ever have been able to know how to trade without doing that. Despite having significant business and personal contacts not one of them participated in Forex or stock trading. I had to bite the bullet and learn the hard way.

Whilst I strongly recommend making full use of the BabyPips School of Pipsology educational material on this forum under Education tab, I also think that a lot of it may go in one ear and out the other unless you augment that with some actual trades on an actual platform. So do use a demo account as long as you don’t get haggled to open a live account before you are ready to do so.

I love the story about the financial advisor. Many of my friends are horrified when I tell them that I need a financial advisor like I need a hole in the head. If I die poor, I will have myself to blame (and I’m man enough to admit it was my fault) instead of some suit and tie guy with all the book work and none of the experience with his own money, who is probably also dead by the time I had listened to him all my life and put all my savings into his recommended “safe investments” only to see their value eroded by the biggest rip off stealth tax in history called inflation. I digress.

Personally I think there is no “course” that is going to make you any better as a trader than joining a group of like minded people and just getting it done. Having said that, I ran a side pilot earlier this year on a not unrelated matter of sports betting. I had a few bookie accounts set up but the one from which I learned quite a lot about price action was the in game betting on Betfair. There are quite a few videos on Youtube on this subject. Just see what happens to the odds when one team scores a goal just before half time. It will put you in the mood to learn about the drivers of price action in Forex.

You may also want to revisit Crypto. There is an excellent thread on this forum from a guy who has dollar-cost-averaged his crypto portfolio for over two years, and his longer term results are quite amazing. Again, not strictly Forex currency trading, but the concepts that start you thinking about how you will build your trading strategy and trading plans are all transportable knowledge items - Forex is one of many underlying instruments on which Forex practical trading knowledge is reusable, with caveats.

As an example of how watching videos about completely different markets but reusing the same concepts, watch this guy for a few minutes talk about Betfair in-game betting on football. Note he talks about sticking to a trading plan (2% to 5% where your Forex plan could as well be 1% to 2%) and about consistently reminding yourself - is this what I agreed BEFORE the match? three times over. Enjoy.

Best of luck

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A millionaire or billionaire will not charge you but would actually I think give free tutorials. Its part of their small time income