This kind of scam is common. It looks more like a modified ponzi scheme. I keep telling people that money doesn't come easy. You have to sweat in order to earn it. You can't just send someone money and then go to sleep and expect it to multiply just like that.
Such deals end up with you getting scammed... and please, they are not professional traders but rather scammers.
Really i was not enticed by the high yield profits he promised because we didn't start our discussion based on that, it was in the middle of trading that i realized he was making a lot of profits for me with his very accurate signals, in fact it was the quick profit that made me start to doubt the whole thing more. I was only looking for a signal provider and this is because my job wouldn't allow me for market analysis.