Popular Trading Scams
A crash course on how to instantly identify crypto scams.....
Win Rates-Win Loss Stats
99% Win Rate 99% Success Rate, 98% Accuracy. Misleading. No one in the financial sector uses just win rates to gauge the health of their money or program. Wins work in racing, not in finance. Look at it like this: you could have a meager 1% “win rate” and still outperform a 99% “win rate.” You could lose 99% of your trades and still beat the person who won 99% of theirs.
Another favorite in this thread of logic is “23 Wins – 2 Losses”. Okay great. Now that we have that sorted, where can we go and read about the definition of a win? Is it +90%? +23%? Is it +0.000001%? Or is it just not a loss? One thing it is most certainly is-mystifying.
Sending Us Crypto to Trade for You:
Scam. If you have sent funds to someone online who promises to return profits to you, you have been scammed. The second part of this scam is telling you that you need to send more money to unlock your funds. This is a typical honeytrap scam. Funds only go one way in and never out. This is a huge scamming enterprise that steals many millions of dollars per year from victims. Do not send crypto that promises to return you profits. This is very similar-if not exactly like- taking a pile of your cash out into the street and lighting it on fire.
Pump and Dump “Clubs”:
Scam. These are amazing scams. In fact, at American Pie, these are our favorite. Genius! If you don’t know what they are, look them up. Here’s the inside scoop: the scammers that run these schemes will quietly buy positions over a few weeks prior to the announcement of the secret group pump. They will then unload at crazy profits by using their members' manipulation of the market on the price bump. They will sell before the members realize what is happening. Leaving their customers to crash with the price. That’s right—they will use and trade against their own (sad) paid members or trade ahead of their pumps and dumps, making bags of money by ripping off their members. What a club!! Brutal.
YouTube Trading Gurus:
We don't even know where to start with this. Most, if not all, of these self-professed trading gurus are scamming their way into your pockets by trying to sell you their trading mentorships, which are all complete garbage, all while they are making a nice living off of views and sponsorships. One thing they are not doing is trading for a living. And you would be surprised how many “reputable” or well-known traders on YouTube do not actually know how to trade-at all. There may be a few legitimate people on YouTube for trading, but the big ones with the high numbers of followers are probably all there to steal from people. Once you get to the video where the course is offered for sale-run as fast as you can! Now, we cannot say that all all trade content providers are shills but, once you get a nose for the ones that are you can smell that garbage train coming from miles away. It’s shocking and sad how people will stick to a proven fraud even after they have been smoked out as scammers.
Who We Can Actually Vouch for on YouTube:
Imantrading: If you want to enjoy watching the plain truth of criminals getting the big bright light of reality shined right into their eyes-make sure to check out Iman. He spends tons of time exposing YouTube scams while realistically sharing his journey to becoming a profitable trader. He does not offer any courses for sale and is generally a good egg. We hope you will take the time to watch all of his videos. They are hyper entertaining. www.youtube.com/@ImanTrading www.imantrading.org
Rekt Capital: Rekt offers legitimate free and paid training courses and has great content for curious trading minds. The big guy there is brilliant and offers great insights on the crypto market. They offer a free newsletter that we highly recommend. Everyone at American Pie reads Rekt Capital. www.youtube.com/@RektCapital https://www.rektcapital.co/
Benjamin: Is probably the most entertaining “trader’s trader” content creator alive. www.youtube.com/@benjjjaamiinn
MoneyZG: This kid posts tons and tons of how to trade related videos that are free and great for new traders. We consider him legitimate and trustworthy. He does offer some courses for sale, and we have no idea what they are about so we will not speak to their validity. But again, his free content is top notch.
https://www.youtube.com/@MoneyZG
These channels are not paid affiliates here, and we did not ask their permission to give them a thumbs up. But we know for sure that these outfits are trustworthy, honest, and bring quality to the table. As of today, these are the only trade-centric channels we will vouch for. Do you know of others we should look in to? Just drop us a line and we will.
BTW, Trading is Hilarious!!
(When this is not happening to you).
https://youtu.be/HGNRIRoG9mI?si=S4NFUYDk-Fu6vfRo
