Sounds about right. What's $5K when he nets 5 ES points per day every day? And pretty soon you'll trade 2 contracts and then 4 and pretty soon you'll be 90% of ES daily volume and a in year you'll have all the money in the world. What's $5K?
I understand the sociopath aspect of the scammer, that's a great point. It's just hard for me to empathize with that if you will or imagine what he feels like. Like is he feeling anything when he's e-mail a false track record to the potential sucker? Or when he's fudging his calls in his "live trading room"? When someone tells him it's his last $5K and he tells him to "put it on the card" because he'll make it back in no time? It's just business to him?
To think of how much losses the retail trading industry as a whole inflicts on the middle and lower classes... The money lost trading, the money wasted on scam education, the money invested in people with false track records, the money spent on charting and data, the money churned by brokerages with spread and commissions. The opportunity cost! The psychological damage! It's disgusting. It's worse than Herbalife?
I don't concern myself with the conscience of the fraudster. If I were taken then so be it. I made the choice and I learn from it or I don't.
If they felt guilty about scamming and had a moral conscience, they wouldn't have gotten into the premeditated act of scamming in the first place, because they would have felt guilty about trying to do it before they did it. Like if I am in line at a store and the person in front of me dropped a $10 bill on the floor from his pocket and he didn't notice...I'd feel guilty about picking it up and keeping it, so I'd give it back to him. Why? Because I'd have a conscience about the act because of how I'd feel if the roles were reversed.
Scammers is kind of an ugly word to describe 'trading vendors', If it works for them, or 1% of their sample, then are they really being evil or bad, Trading by its nature is very risky, and many many will fail either way; for one reason or another or a combination of factors, Just because you see a Poker Champion on TV making millions...and the 99% of people in casinos who lose money daily...does that mean casinos should be shut down to protect the greater good? In life, in general, there will be many many losers. and a few, very rare winners. Doesn't matter if you're coached by someone who just made a million, or some random bozo on a forum. Less than 1% of prospective traders will truly succeed fruitfully in abundance in the end, As for the question of 'do they feel guilty'...Ha, that's a laugh, People would literally stab you in the back for money...if they could legally get away with it free and clear. no remorse. Walk around a crowded place like NYC...everyone has money on their minds. Money is everything. money is life. money is power. Money is the invisible energy and matrix constantly flowing all over the place, That dictates everything, Hot Pursuit, Trading is kind of like a race track and a race...it's a mixture of pushing things to the limit, and constantly flirting with danger, And it helps to have foresight of the track layout, as opposed to someone who has no idea what to expect at every turn,
I'm thinking, this Jesus story is a scam as well. Anything which sucks in large crowds appears to be a scam imo. Even buying shares appears a scam, the majority of shares listed appear to be duds, they soon disappear from view, swept under the carpet. The indexes appear to show growth but that's because the duds are continually being removed. TV is a scam, just one great ginormous propoganda machine endlessly pumping out BS.
Probably not. They get the mortgage paid and everything else. Can you blame them? Now if they could actually trade profitability they wouldn't be selling get rich quick. Just a thought.
The motions of desire and greed are the causes of all the human suffering on earth. Therefore, human greed and desires have to be controlled to end the human suffering. (Zen) Based on the above, Grasshopper, what caused your suffering and hate to the market educators or the scammers, as you call them, is your greed and desire to get rich quick in the first place. Your greed blinded your senses and prevented you from realizing the sham that sucked you in and took your money until it's too late. So look at it like this, the scammer might took you money but in the main time, he thought you a good lesson that greed is a bad habit specially when it comes to the trading business.