I’ve touched on this subject before, but after witnessing my old pal Chris Capre using this trick twice within a week, I believe a full article is now warranted.
First off, you should take a couple of minutes to learn what a shell game is, if you don’t know already. I still remember my only encounter so far with fraudsters of this type. I was traveling by coach from Germany to Romania some nine years ago and in early morning, must’ve been around 6 AM, we stopped at a motorway gas station in Hungary. I went inside and on return to the coach, there was this group of passengers surrounding two guys who were working the shell game. A woman appeared to be winning, which encouraged a few passengers to start playing. Long story short, none of them won anything – some lost 50 euros a piece with one woman losing 500 euros. I still remember asking myself how could these people be so gullible ? How could they think that some stranger is waiting at 6 AM in the middle of nowhere to hand them free cash ?
Well, after watching Chris Capre’s latest live trades, first thing that came into my mind was the shell game happening mentioned above. Let’s discuss the (Video) +100 Pips Live Price Action Trade on NZDUSD article and you’ll understand why.
You’ll notice that unlike the videos done in early 2015 where he was more subtle, now Capre drills into the viewers that he uses a real account.
As you can see, it says real over here. That would say demo, if it was a demo account, it would say demo.
Why, indeed, that’s a REAL account, but don’t break the champagne just yet. What Capre fails to inform us (using a sleight of hand just like the shell game con men) is that it only takes $50 to open a live account with FXCM. We’re also not shown any account number or lot size, so it’s very possible that either a different account is used for each video or the same $50 account is replenished. With the money from just one course for which these videos act as advertising, he can open 6 different REAL accounts.
Now, even if Capre actually trades a meaningful account (which I doubt) and those weren’t just lucky shots for the camera, there is another problem. One has to be disingenuous to cherry-pick some winning trades in order to show what a skillful trader one allegedly is. If you truly want to prove something, no one stops you from actually documenting a continuous series of trades.
You can learn how to find these trades. You can learn how to make these trades and that’s what I teach you in my price action course.
Almost anyone can handle trades that win right out of the gate, but how about those 5-6 trades out of 10 that end up as losers ? Or does Capre only have winners, like his collection of live price action videos imply ? If that’s not presenting forex trading through rose tinted glasses, then I don’t know what is.
A last point: one might say: yeah ok, but what about the trade analysis ? Isn’t there any value ? Well, in my opinion the right question to ask is this: why would I bother to learn from a thoroughly dishonest person ?