Quote from: goldkingcoiner on Today at 03:26:55 PM

Quote from: bettercrypto on Today at 03:11:06 PM

Quote from: goldkingcoiner on March 01, 2024, 04:28:14 AM

Quote from: mvdheuvel1983 on November 28, 2023, 09:02:07 PM

A lot of traders are not as profitable as they claim to be. I don't know the exact percentage but I can say and stand to be corrected that 95% of traders even the so called professionals are not profitable. How do I know this through simple deduction. 95% of these unprofitable traders make their money through other means and their unsuspecting followers don't know this. Some of the means are
- starting a YouTube channel and making money of
a) affiliate program
b) YouTube ads

- Having a paid course.
- Trading signals
- Selling trading merch
- impressions
- and others.

The true 5% of traders that are very successful and profitable do not even have a YouTube channel (only a very few exceptions). They are strictly for trading only, day in and say out.

The biggest warning signals are always that these "traders" act more like influencers than actual traders. They show off their lambo (probably leased) and their watches and other luxury items (also obviously leased). And people look at them and think they know what they are doing when in reality, they are just making money off of paid courses, signals or other things as you have mentioned in your list.

I do not think anyone can learn anything from them. Although there are also good traders, but they are hard to spot to the untrained eye.

The trading signals are categorized as scammers, and there are usually many victims who don't know anything about crypto trading. So that means there are traders who know they are traders but don't have any knowledge or idea about trading, except for buying and selling, and there are also long-term and short-term traders.

So in the three that I mentioned, the ones that they do that do not become profitable still enter there; I don't include all of them because they can still get profit in some other ways in that category.

Yeah basically, they are categorized as scammers but that is too bad because I once tried to get a real trading signals group started but nobody was interested, even though my signals consistently made a profit and I never asked for any fees/contributions. But I quickly realized the reason why nobody was interested. It was because people avoid trading signal groups like the plague.

Which does bring up the question of why there are so many scammer trading signal groups.... I guess they prey on the gullible few while faking their community numbers? Oh well....

That's actually true. A lot of people are fooled by those signal groups. It is even being reported here in our country that they will bite those they will victimize in the beginning that will initially release small capital, and then they will first fall into the trap that they will first show the prospect of earning the small capital, and then they will invest again and increase their investment capital.

Until the victim realizes that the amount of money he has already released from the signal group is large, and when the amount is released, the victim will suddenly not be able to access the signal group's site.