Its not actually that complex.
For myfxbook, just disregard any reports that arent fully verified with all history and options visible on a known and trusted broker (preferably regulated). And by known and trusted, I mean a broker with a long standing history and continual discussion, like Oanda, IC Markets, Tallinex, Pepperstone ( I am not endorsing these in particular, just using them as examples of brokers who are well known and have a years-long history with continual critical peer and user review and discussion to keep them relatively honest). Ignore brokers who are not well known, have scandals attached to them, have known links to dodgy ownership or links to EA/system vendors. Again, this still leaves dozens of reputable choices.
Then, dont even consider a vendor or educator's products unless they have a fully verified and analyzable myfxbook. This would disqualify 99.9% of all the vendors of anything, Stapleton, Bill Young, James16, Darkstar, the list goes on....if they DO have said myfxbook, then you can analyze further, but if not, dont even waste minute 1.
Im a believer in the value of paying for education in some instances regardless of whether the educator is themselves profitable or not - I have spent well over 6 figures on product in the last decade. As hanover pointed out, often educational material will be just as useful in teaching you what NOT to do, or giving insight or an angle you hadnt thought of. So I wouldnt summarily dismiss education. I would, however, advise that when any educator or vendor of a system claims they have a soup-to-nuts methodology and trading solution, that it falls to the potential buyers to require a myfxbook to analyze the potential results -
For myfxbook, just disregard any reports that arent fully verified with all history and options visible on a known and trusted broker (preferably regulated). And by known and trusted, I mean a broker with a long standing history and continual discussion, like Oanda, IC Markets, Tallinex, Pepperstone ( I am not endorsing these in particular, just using them as examples of brokers who are well known and have a years-long history with continual critical peer and user review and discussion to keep them relatively honest). Ignore brokers who are not well known, have scandals attached to them, have known links to dodgy ownership or links to EA/system vendors. Again, this still leaves dozens of reputable choices.
Then, dont even consider a vendor or educator's products unless they have a fully verified and analyzable myfxbook. This would disqualify 99.9% of all the vendors of anything, Stapleton, Bill Young, James16, Darkstar, the list goes on....if they DO have said myfxbook, then you can analyze further, but if not, dont even waste minute 1.
Im a believer in the value of paying for education in some instances regardless of whether the educator is themselves profitable or not - I have spent well over 6 figures on product in the last decade. As hanover pointed out, often educational material will be just as useful in teaching you what NOT to do, or giving insight or an angle you hadnt thought of. So I wouldnt summarily dismiss education. I would, however, advise that when any educator or vendor of a system claims they have a soup-to-nuts methodology and trading solution, that it falls to the potential buyers to require a myfxbook to analyze the potential results -
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