How to tell if it is a scam?

Confiscate it over what?

He said it was the last chance, didn't promise anything therefore no fraud was committed.

Unlike our little miracle whip boy here.

http://www.forexfactory.com/showthre...=1#post6371090

Nobody deserves to be swindled just because they are gullible.
The problem is that so many want to believe that it is/can be easy to earn a fortune from forex that they will fall for this cr*p

He posted an image of his trade explorer, note that he covers the cash amounts, probably because it is a teeny weeny mini micro account. Maybe one of his $10 accounts.
Some will simply look at it and think "Wow 365% profit in one week! This guy must be good"
They will only focus on that gain and not realise that he must have suffered more than 50% drawdown at one time on an account that has only been opened 16 days. It's easy to grow a mini account if taking excessive risks and with a bit of luck.

The other strange thing is that the thread is about trading Binary options and yet the TE is conventional trading. It's like saying "Look how good a job I did of painting this wall - proves what a good painter I am, so you should let me respray your car"

What do you think?

Holy Grail EA ( Daily 10% To 25% Profit )

AutoTrading: See What Our Robot Can Do With US$1000 Investment

Well, all the threads made it to recycle bin will this one be an exception?

AutoTrading: See What Our Robot Can Do With US$1000 Investment

Ken, what do you think of the thread that you linked to above? Just interested in your opinion.

If you are giving money to someone as a donation or contribution out of free will what does that mean? There's no sales agreement. Sketchy.

If it promises the world or has a website with horribly un-modern aesthetics... likely a scam. It is remarkably cheap to develop a solid website. Just use a WP or Wix template and go.

I can only speak from my experience........I have been around dabbling everywhere and.......and finally settled with placing more emphasis on my trading ...so it doesn't bother me too much compared to before.

There are red flags but you can never tell whether some one is a fraud or scam............

- Nobody knew Madoff was a fraud until he went belly up..........I guess the only way to find true fund managers would be by investor referral or good ole word of mouth. The real good fund managers/traders are either already occupied or yet to be found.

- Look for managers/traders who trade their own funds and compensated by high watermark performance fee so that the client is not charged for underperforming.

- People operating with regulated entities will put you on the safer side where you can lodge a complaint and find recourse for outright fraud

- Long enough track record (6 - 12 months or more) with realistic returns would be a sign that a trader is in for the long haul.

Just blotted a few off my head ..........

Classical scam....

Hey ken, why many people commenting here are commercial member?

I would assume a person who be considered a "scam" due to the fact that they are willing to say something which you can't do. Have returns of 110%. Many people have turned over 100% profit trading forex. Just as many people have failed trying to do so. Just because a person is willing to put his/her name on the line in return of praise doesn't make him/her a scammer. Judge people on their results! Not solely on their words. Which is the only thing those v10 posters have, their word. People speak about how helpful they are, and how much knowledge they have, but none of them have a trader explorer linked worth telling a friend about. Says much about the person doesn't.

Simple because this thread was moved to commercial section

Is this one real About the course ? What do you think?

This one will be another chapter of FF ..........

Are there any Large Lot Traders here?

Busted

The similarity system

My retairment Method

High Impact News System

Four Majors & Me

My Best Trade is Next Trade!

Swing-Hi trading System

DBX Trading System - The Way The Winners Trade!

http://www.jurikres.com/snake/main_oil.htm

Snake Oil Tutorial
How to Sell Worthless Trading Strategies




This section of our site is intended to be an entertaining tutorial on how to detect the slick marketing of marginal trading strategies. You may even recognize one or more snake oil salesmen that we've modelled after.

We intend to add new segments whenever our lawyers permit us ... probably when Hell freezes over, I guess. Exposing tricks of the trade without obviously implicating specific individuals or firms is important in this age of excessive litigation. Thank you for your patience.
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A thought provoking advertisement in a popular magazine for financial investors posed this question:

"If Your Hen Laid GOLDEN EGGS,
Would You Sell It?"

If you had a system that made a million dollars in 3 years, would you be passing it out for $300? No? How about $3,000? Still no? What would you sell for $3,000? Probably something "less" spectacular. Way less. So if your goal was to sell copies of a marginally performing system, how would you promote it?
Here is one chapter from an underground textbook:

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How to Sell A Worthless Trading System

PART 1: Product Name
You could give your system a truly heartpounding name, like the "Holy Moses' Apocalyptic Market Masher". But that might appear a little over-the-top. You would also be limiting your audience to those who know what "apocalyptic" really means, as very few would be motivated to trade on judgement day.

Instead, create a more subtle, sophisticated name that conjures up some combination of the following notions:


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1. RARITY (use words like secret, just discovered, just revealed, confessions, ...)
2. POWER (use words like market crusher, market masher, steam roller, ...)
3. ACCURACY (use words like precision, pinpoint, exact, target, ...)
4. PRODUCTIVITY (use phrases like money machine, profits factory, ...)
5. INTELLIGENCE (refer to ancient civilization: King Solomon, Atlantis, Stonehenge, ...)
6. SCIENCE (refer to high school math: Squares, Angles, Symmetry, Pythagorus, ...)
7. UNIVERSALITY (combine astronomy and acoustics: planetary harmonics, cosmic vibration, ...)
8. SUPERNATURAL (refer to mythical symbols: Holy Grail, Face of Buddha, Excalibur, UFOs, ...)
9. ELITIST ( Cream of the Crop, Diamonds in the Rough, Crown Jewels, Family Jewels, ... )

So, what name would you give this marginal trading scheme? Click here for a suggestion.

PART 2: Promotion


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The next step is to promote it in ads and juicy mailing pieces with a glowing chart sandwiched between pictures of (wealthy) W.D.Gann and (genius) Albert Einstein. After all, how could anything but quality appear between these two men?




After trading for only 6 months and flush with more money than you can possibly spend, its now time to share with everyone your amazing discovery ... for a fee, of course. And by the way, mention you are not in it for the money. You merely want to level the playing field so the common man can get his share of wealth. And to reinforce your claim, state in bold letters "NO PROFESSIONAL MONEY MANAGERS". (As if any of them would even consider!)
Also, nobody likes being left out of a winning pack. Suggest your system will place users right within the winners circle:
Profit with the big guns on Wall Street!



Include exciting (yet legally meaningless) charts, such as the one shown here. On the envelope print "My Miracle Trading System". In your letter, build a story stating any combination of the following . . .
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1. you were broke and had to sell your car and foreclose your home
2. your spouse and kids left you
3. penniless, you spent much of your life searching for the hidden secrets
4. you kept spotting recurring patterns in the markets
5. you eventually "cracked the code" and discovered the missing fifth (or sixth) dimension

(This riveting novel could become a best seller.)
Lastly, there is the small matter that you probably haven't spent any real money testing your system, you only ran it on historical data and optimized the crap out of it to get great results. So you will need to insert a disclosure on that fact, along with other warnings. The best place to print it is at the very end of a long promotional piece. By the time your victim ..um.. reader gets to it, he will be so hyped it won't matter. Also, use a tiny font size so he will have to strain reading it. Here is an example ...

You left out possibly the best part of that:

Good point .... might have to borrow crayon from Cartoon Bear to make it more attractive ..

The market of financial trading systems is like any other: there is good stuff and then there is, well ... everything else. If you really want to BUY a trading strategy, here is one simple test you can do to defeat all high pressure, deceptive sales tactics ...

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Will the seller provide a broker's statement
showing the most recent 200 consecutive trades
called by the strategy?

If the answer is anything but "Yes", walk away.