FOREX IS A SCAM - WHY TRADERS LOSE MILLIONS TRADING FOREX AND USING WEALTH GENERATORS | Forex
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If you aren't aware forex is a scam, you NEED to listen to this. Must watch educational information for all forex beginners. Find out why the 4.3 trillion dollars traded a day, really doesn't even equate to a billion dollars. If you are looking how to trade forex or for forex strategies, I would look more into the risks first and better prepare yourself. There is nothing wrong with trading a financial vehicle, but not fully understanding what you are getting into is, and that is the common problem with forex, which leads me to call it a scam. If you don't care what I have to say, at least skip to the last minute of the video to watch me rip and rev my ferrari 458 italia spyder through a tunnel :) Beyond those problems and the lack of regulation, I didn't even get to mention all the scams associated with forex and these fake forex millionaires who sell bs forex strategies that revolve around technicals. Its your oceannsky, reza mohktarian, mentortips type of guy I am talking about. Scammers in the forex industry thrive off the little regulation and take advantage of the high commissions provided by OTC markets, just like Jordan Belfort did in the Wolf of Wall street. All in all, It is just sad to see ill informed people on the matter, this is just a very brief description while I was driving on why I think forex is a scam. I will make more videos on this in the near future so if you have any questions or comments, please let me know so I can address it in the next video! Please SUBSCRIBE to the channel LIKE, SHARE, and COMMENT so I have questions to answers and things to talk about. If you think you can hang with the brothers and are qualified to be one of the 25 people we accept every quarter to join my 3-month mentoring program, where you are able to watch me trade stocks LIVE every second of the day, every day of the week and be able to ask me questions live while I trade, go to http://www.thetradingfraternity.com to request and application. The lazy and undedicated need not apply. If you haven't done so follow me on social media! Twitter: http://www.twitter.com/JoshAnswers instagram: http://www.instagram.com/TheTradingFraternity Facebook: http://www.facebook.com/TradingFraternity Sign up to be a TTF Citizen: http://www.TTFCitizen.com Apply for mentorship: http://www.TheTradingFraternity.com
Comments
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u must of lost money lol smh
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i think whaft he's trying to say is that the industry turned into a scam and because theres little to no regulation most people can scam you and get away with it mlm/wealth generators they all scam people 9 out of 10 forex brokers are scammers and manipulate trades dont get butt hurt insulting the guy because he busted your little bubble some fx traders are really profitable they make money im sure he knows that but the forex industry is really fucked up i cant get mad at him for calling it a scam. Really its sad to see grown men insult other grown men and try to discredit them or their success because they dissagree with what they say. sad
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Forex is legit. Companies aren't. Millions are lost following faulty systems, EA's, and false mentors. Summed that up for ya!
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WHAT BROKER DO U PREFER.....WITH OUT A DEALING DESK
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ok this guy has no clue about forex period
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fx for life😊
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the reason people blow their accounts is due to the high leverage, its not a scam..... go with a ecn broker not a makert maker lol just saying ur only talking about a makert maker broker....lmfao nice rental i bet ahaha
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Outside of forex, lets get psychological:
The guy who made this video must be reduced to his personality type. You are dealing with an individual with a "knowitall" personality. When a knowitall cant learn something and do well at it, they then project negative energy onto any person interested in getting into that lane. They feel strongly about their stances, so they discourage others. When you warn someone about something in a genuine manner, there usually is proof across the board on the danger of that thing (ex: prostitution, pimping, drug dealing = jail time/death).
When you go into making a video KNOWING that there are ppl profiting somewhere and somehow in a specific market, you are probably a knowitall. If you type in "why options are a scam" there will be a list of fellow knowitalls, who's primary objective is to discourage any person curious about that market. You may also catch knowitalls discussing religion and politics and in some cases they avoid talking about controversial issues to make it seem as if they are too educated to educate those who are not (but really they just don't want to get schooled). So let me say this:
DO NOT LISTEN TO KNOWITALLS! THEY ARE JUST LINEAR MINDED INDIVIDUALS WHO GET OFF ON FACT-CHECKING AND OUT-SMARTING PEOPLE. THEY ARE TRANSACTIONAL LISTENERS WHO MALICIOUSLY PICK APART THE INFORMATION THEY HEAR IN ORDER TO AVOID THEIR FEAR OF NOT KNOWING ANYTHING OUTSIDE OF THE HANDFUL OF THINGS THEY ARE INTERESTED IN!
If you trade forex, trade wisely. -
Joel Kruger seems to be doing ok? 2 year plus portfolio, making good returns. So the market must be "trade-able" to some degree?
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All of the opportunities and different avenues to change not just our lives but those around us.... we waste too much time fighting and arguing for nothing.
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Watch out from Forex scams!! http://www.onestopbrokers.com/2016/10/20/documents-reveal-blackfortfx-ponzi-scheme-scale/
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Technical analysis actually works (if you know how to do it, and most of the bullshit you see online won't teach you properly) because firms trading with real currencies leave a mark in price action within the accumulation and distribution levels. It's the same as finding buy and sell regions in stocks but with much more liquidity
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Every one should join and try it to change your life at least once it is a great opportunity to change the life don't listen this guy , he is misleading you.
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If forex cannot operate no problem there is crypto currency what financial bosses cannot handle any way world is changing that is why you are driving a rental car and thinking about ocean sky you are gossiping about a cyber rebel called REZA mokhtarian another soviet rebel called Valdimir Ribakov no one want to stay under jpmorgan and gold man sacks world is changing not because of gold man sacks because of Chinese nation, Indian nation , Brazilian nation they are getting so rich gold man sacks are toys for them you tiny little English man , Do You know American borrowing is 3 trillion and donated by China learn the world from us , if western people want to live then no other choice then to libaralise and increase tolarace , you can dominate a American inside America but you cannot dominate a Chinese inside China Indian inside India and that is the change effecting you learn the globe not your little toy car , REZA trading 300 million per day thanks .
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All things of even the total fiat money and financial institution is nothing but hocas pocas Abra ka dabra oh I see why forex not even include Chinese yen you know Chinese government artificial way kept there yen values Lower and forex cannot handle Chinese , oh and Rothschild s control over forex too the Swiss illegal criminals money oh othe Bitcoin what is that ? Lol few people only want to rule the financial stocks we know very well all mafias and yukuzas , and also BRICS is not inside forex and you this is not your owned world Mongolian ruler said changis khan world is too big .
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Been trying to study and get forex to work for me for years. Still hasn't worked. I have good reason to believe that Forex is indeed a scam.
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This was the most distracted driving I have ever seen LMAO This is why we have so many accidents in LA and then so many new laws Haha kind of distracting the video too actually. I am about to talk to one of your students now, lets see how this goes.
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it sounds like everybody in the comments section is making money in forex... wow
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This dude obviously doesn't know WTF forex is. Do propper research before you make a video like this. Forex is a whole different business than stocks. Dont try to compare it with stocks. Fundamentals aslo work different in forex. You dont need to know all the in and outs about fundamentals to trade succesfully, i only watch out for high impact news (like nfp and fomc) and make sure i'm not in a trade with the currency of the news. I agree there are alot of shady brokers but this doesnt mean that the whole forex business is a scam. if you want to have a true picture of forex look up astrofx on youtube. And otherwise just stick to stocks and dont judge forex when tou dont even know what the f you're talking about.
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I trade Forex, but I'm not apart of any company (MLMs can take a piss). It took me a solid 8 months and blown accounts (lost money) to be able to trade profitably. Most sane people would quit after month 3.
Definitely not for everyone. I can see why it isn't insured... Look at the loss rate on all trades. Too many people think its a "Get Rich in a month" type of thing. Yeah, you can make money at it, but its a balancing act of finding a broker that won't screw you over, protecting your capital, understanding the movements in the market (fundamentals/technicals), and controlling that panic button. The majority of the traders out there can't even break even because one of those factors comes into play.