mr.relax luring readers into risky trades (and therefore losing Sats)
⭐ Merited by icopress (5)
Disclaimer: this topic serves as a reference for my neutral feedback on mr.relax, since trust ratings have limited space
In the German section, mr.relax has pushed multiple times the wrong claim, that "trading by technical analysis is a reliable source of income (if done "right")".
His strategy to "prove" his claim, is to make multiple, often contradicting predictions multiple times a week and after one of them is happening, he's pointing out that he was right and technical analysis would be a working "strategy".
Here's an example for this:
On September 8, he made a prediction that it's a general trend to trade the Merge (from Ethereum) to increase sats while prices should increase due to the merge and the fork (I don't disagree here but it's still highly risky. He then continued, that his technical analysis is suggesting that it's a good idea to speculate to sell ETH for BTC short-term.
The price of ETH compared to BTC than dropped for the next day.
After being right for this prediction (he's making multiple predictions every week) he pointed out afterwards, on September 9, after BTC gained compared to ETH that he was right about this signal and therefore, (his misleading conclusion) that technical analysis would be a reliable way to be better than HODL.
We all know that his prediction was pure luck and by picking that one afterwards, he's brazenly misleading readers, especially Newbies.
And another example from his misleading strategy by making multiple, contradicting predictions (translated):
The problem of mr.relax' predictions is not the prediction itself (that's completely fine), but that he's saying, technical analysis is a "reliable way" of increasing profit. He's pushing this nonsense claims every day.
The problem of his "trading shilling" is that he doesn't reflect on his wrong claims about trading and his misleading way of presenting how he was "right" an therefore pointing out that technical analysis is "proven".
That's just a wrong statement and highly misleading to Newbies because technical analysis of the charts is pseudo-science:
While most people know that trading is high risk because (not) surprisingly, there are no billionaires from technical analysis or there are no bots which can trade reliably according to technical analysis, mr.relax is still insisting on it.
After being called out on this, he's now attacking me personally because I have called out his strategy as presented above.
The claims of mr.relax are openly misleading to Newbies and luring them into risky trades.
Therefore, I have sent a neutral trust to mr.relax to make aware of this fact.
Please take the statements about trading from mr.relax with caution!
In the German section, mr.relax has pushed multiple times the wrong claim, that "trading by technical analysis is a reliable source of income (if done "right")".
His strategy to "prove" his claim, is to make multiple, often contradicting predictions multiple times a week and after one of them is happening, he's pointing out that he was right and technical analysis would be a working "strategy".
Here's an example for this:
On September 8, he made a prediction that it's a general trend to trade the Merge (from Ethereum) to increase sats while prices should increase due to the merge and the fork (I don't disagree here but it's still highly risky. He then continued, that his technical analysis is suggesting that it's a good idea to speculate to sell ETH for BTC short-term.
The price of ETH compared to BTC than dropped for the next day.
After being right for this prediction (he's making multiple predictions every week) he pointed out afterwards, on September 9, after BTC gained compared to ETH that he was right about this signal and therefore, (his misleading conclusion) that technical analysis would be a reliable way to be better than HODL.
We all know that his prediction was pure luck and by picking that one afterwards, he's brazenly misleading readers, especially Newbies.
And another example from his misleading strategy by making multiple, contradicting predictions (translated):
At the moment you could bet on the technical setback with betting long in the short term, but that's too risky for me. The general trend has been declining on a large scale since December, and in the medium term since mid-August. To bet against these trends in the short term means increased risk , even if the possible reward would not be bad at the moment. The next mark that should not be lower from a bull's point of view is the low of June 18 at 17613. I still see the price trend until December falling. But because we are already close to the presumed ground for the long term - and never catch it exactly anyway - you could get in. But I prefer to wait until a clear reversal trend is confirmed.
Momentan könnte man kurzfristig auf die technische Gegenreaktion mit einem Long setzen, mir ist das aber zu riskant.
Der generelle Trend großflächig geht seit Dezember runter, mittelfristig seit mitte August.
Gegen diese Trends kurzfristig zu setzen, bedeutet erhöhtes Risiko-auch wenn der mögliche Reward momentan gar nicht schlecht wäre.
Die nächste Marke, die aus Bullensicht nicht unterschritten werden sollte, ist das Tief vom 18.Juni bei 17613.
Kurstendenz bis Dezember sehe ich immer noch fallend.
Weil wir aber für Langfristige schon nahe am vermuteten Boden sind-und den sowieso nie genau erwischen-könnte man einsteigen.
Ich warte aber lieber noch bis sich ein deutlicher Umkehrtrend bestätigt.
Der generelle Trend großflächig geht seit Dezember runter, mittelfristig seit mitte August.
Gegen diese Trends kurzfristig zu setzen, bedeutet erhöhtes Risiko-auch wenn der mögliche Reward momentan gar nicht schlecht wäre.
Die nächste Marke, die aus Bullensicht nicht unterschritten werden sollte, ist das Tief vom 18.Juni bei 17613.
Kurstendenz bis Dezember sehe ich immer noch fallend.
Weil wir aber für Langfristige schon nahe am vermuteten Boden sind-und den sowieso nie genau erwischen-könnte man einsteigen.
Ich warte aber lieber noch bis sich ein deutlicher Umkehrtrend bestätigt.
The problem of mr.relax' predictions is not the prediction itself (that's completely fine), but that he's saying, technical analysis is a "reliable way" of increasing profit. He's pushing this nonsense claims every day.
The problem of his "trading shilling" is that he doesn't reflect on his wrong claims about trading and his misleading way of presenting how he was "right" an therefore pointing out that technical analysis is "proven".
All of that (my prediction) is based only on technical analysis, that's not from fundamental analysis or the Merge
Das ganze beruht nur auf TA, und hat nichts mit Fundamentalanalyse und Merge.
That's just a wrong statement and highly misleading to Newbies because technical analysis of the charts is pseudo-science:
While most people know that trading is high risk because (not) surprisingly, there are no billionaires from technical analysis or there are no bots which can trade reliably according to technical analysis, mr.relax is still insisting on it.
After being called out on this, he's now attacking me personally because I have called out his strategy as presented above.
The claims of mr.relax are openly misleading to Newbies and luring them into risky trades.
Therefore, I have sent a neutral trust to mr.relax to make aware of this fact.
Please take the statements about trading from mr.relax with caution!