The covid lockdown has cause a surge in interest for the stock market. Additionally the media coverage on AMC and GME cause a massive surge in users for WSB. This also breed a new toxic community of users that try to take advantage of investors that are still learning the ropes.
Where can you find these trading gurus?
Tiktok, instagram, youtube and even reddit has a number of so called trading gurus that will try to lure to either their trading platform or discord server
What's the issue?
A number of these users will charge a ridiculous monthly or yearly fee to obtain "signals" for their plays. What's interesting about these signals is 90% of the time they will be too late to enter when they're posted. Additionally they will also usually never post a loss or simply ignore a stock that doesn't go up.
It should also be noted that a lot of these guys use paper accounts or photoshop investment pages to show millions in their investment account to lure the idea that they're always right.
There's servers that will sell bots that post plays and claim its their own when in reality its to have a server that has paying users.
Why is it bad to follow these guys?
Yes, there can be some plays where you might hit, but it gives a falsified image and view on the market itself. You will not learn the fundamental skills needed and in fact, anyone can be these trading gurus if you understand the technical skills behind measuring a stock based on a chart. Remember everyone is a trading god in a bull market. A majority of these users will either delete everything or run away when a bear market comes.
As a disclaimer, I am not a investor who is like these guys, but I've been trading enough that I was able to purchase my house, buy a new car and enjoy a better life with the gains, but this is only cause I did my DD and its a bull market. A lot of these kids want you to feel lower than them to seek information but truth be told…..confidence and self learning will take you further.
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