What Can Traders Learn From 50 Cent –
In the declaration, 50 Cent — real name: Curtis Jackson III — claims that the posts depict ’prop money’ used for G-Unit Records and videos and photo shoots.” – click for full article
So what’s all this got to do with trading, right ? A lot, actually. It clearly shows how BS can go unabashed on social media. And it’s not only the money. That’s just a part of the whole fantasy image of trading success. Depending on the guru, you’ll see well crafted photos and videos of exotic locations, expensive cars, beautiful, bikini clad women – all the stuff needed to convey a sense of wealth, freedom and fun. You can enter this world too, if you buy whatever the guru is selling.
Think of all the self-appointed trading experts that use social media to trick people. From Tim Sykes to AstroFX, from Anton Kreil to Kunal Desai and his Bulls on Wall Street racket. If you call yourself a professional trader, then your verified track-record should be your business card. But just try and ask them for one. You’ll get a thousand different (BS) excuses, ignored or blocked.
The saddest thing though is that some parts of the fairy tale being sold are not faked. For instance, that Lamborghini might really be paid for and not just hired for the day. And that stay at a 5 star resort on a Caribbean island could very well be for real. But they weren’t bought with trading profits, as you’re induced to believe. How could they be, when these guys most probably don’t even have a live brokerage account. No, it’s all been purchased with your money. You paid for it, by buying that course, the DVDs, chat room memberships and so on.
So next time when you pull out your credit card, ready to buy your way into trading success from an ‘expert’ who is ‘living the life’, just stop and think for a minute. What you are actually doing is paying for the guru’s ‘good life’ and only getting BS, deception and misinformation in return.