Now, a days every traders showing big profits in telegram channel and attracting new innocent traders who end up loosing more money because when they try to trade on their recommendations.
Traders keep posting fake screenshots or recoding of profits, Is there any way to spot it?
Bull run 2017 telegram channel was exposed by SEBI
Ask the guy to set up an online meet and then and there ask him to open his broker interface and show the p&l
Ask him his ITR return for n number of years.
Couple of ways you can cross verify that I can think of.
No trader will show his PNL or ITR details, but they will only show profit screenshots, telegram channels and youtubers are full these traders, their income is youtube videos not trading,
This is how innocent traders are trapped and they end up double loss one with their trading and other with buying their useless courses…
Well if someone is not willing to do so understand it is fake.
Forget screenshots, even videos can be easily faked.
For eg, I could show you my Zerodha balance page with any amount, or any transaction I desire, just by writing a simple browser extension, and even if I refresh the page or whatever, it will show whatever I want it to…
All screenshots are fake only
Rephrase ur question
How to spot genuine screenshot of trader
Even if the screenshot is genuine, there’s no guarantee. Suppose he bought Banknifty Jan FUT in Zerodha and sold it in Upstox or another Zerodha account in his mother’s name to maintain interface consistency.
And then he will post the screenshot of the trade which went his way. Only thing he pays is brokerage and taxes, which will easily be recovered through the courses he sells by using the profit screenshot as advertisement.
Everything can be photoshopped or edited, starting from ITR returns to video proofs. Only way to be sure is to get all his accounts audited by an independent organization, like Mark Minervini does.
I strongly believe a profitable trader would never want to share anything with anybody forget taking classes!
Ya I have a average strategy, which kept me break even for more than 3 years. Till I am not ready to share my strategy to anyone.
Maybe not publicly and maybe not sharing exact specs, but there is good scope of improvement by exchanging higher level ideas with other profitable traders, perhaps in a closed group.
Also. discretionary traders may be more open to sharing ideas too. But its also tougher to determine whether someone is real or faking it since you cannot easily backtest.
If people did not share ideas at all, everyone would have to start at 0. I am thankful that someone made available a lot of useful information which worked out for me ( after a lot of work, no easy fix ).
Found this thread on twitter which shows just how easy it is to fake the P&L numbers! The lengths some people go through for clickbait
Well, identifying other profitable traders would be difficult (subject matter of the current topic) and yes, I agree that there are a lot of good people (mostly institutions) out there who share a lot of HQ information.
these days people are editing video with live mtm moving how to do ??