I personally think young guys posting YouTube videos running chatrooms claiming to make $100,000 etc in a single day trading stocks under 10 bucks are total liars who should be reported to the SEC and attorney general office. You might get whistleblower $. Seriously who honestly believes that someone who can regularly profit $100,000 in a day needs to sell overpriced courses and chatroom subs? As an honest educator I find it disappointing that so many people actually Believe that BS. It's deceptive to pass off sim trading as real.... something's obviously fishy. Do you folks actually honestly believe that chatroom small cap guys are making $100,000 profit real money in 1 day? Fcking ludicrous -- let's see tax return proof. It is incredibly deceptive and fraudulent to do sim fake trading for commercial gain to get chatroom subscribers. I am shocked so many people believe these hustlers, peddling phony trading dreams. It'll be great once they're taken down, which I'm confident will happen.
In my short life, i have witnessed folks doing worse things for the $$$, so it's highly possible, that some will do whatever it takes, to attract those $$$'s. Mix in the fact that 1% of the population are psychopaths, 4% sociopaths and 15% narcissists and Bernie Madaoff as overseer figure. It's possible, tho theres no data on correct numbers. Welcome to the 21's century. P.s. Wolf of Wallstreet claiming that he lost those monies. Lost and stole, 2 different words.
The difference is volume. Online you literally have a global market to sell to. It's not like a local con job
Ken you watching CBAT? A friend made $175,000 on that sucker buying in Regular and selling in AH yesterday. He's up another $50k in Pre-Market but this guy use to be a Amex, Pink Sheet and Nasdaq MM being trained by the best.
I called CBAT short 3.2 cover 2.6 in my room today. Good points so far, thx! The phony guys claiming real money $100,000 bs days incorrectly think disclaimer mouseprint saying trades are hypothetical protects them from compliance action -- it doesn't.
Correctamundo! Even if the performance is "theoretical"... if you're "holding yourself out to the public", you're not allowed to lie/exaggerate.
You see the same in any industry it seems that involves big swings in profits/loss. Sports betting industry, there's a million guys with pics of lambos and stacks of cashing, selling their "winning" picks because they supposedly win 90% of their bets. Horse racing, same thing, not as prevalent. Even casinos, where anyone and everyone should know the odds are against them, people still selling their "roulette system" which 9/10 times is just a modified martingale system. No shortage of people who just want to put on blinders and think there really is a way to get rich quick.
What are the regulations that vendors have to live with and who enforces these? Lots of YouTubers available if you want to see trading. Any regulation on what is posted? Can you sell a trading course without any documentation aside from the usual CYA disclaimer?