You’re right I got regular messages from Gurgaon based tip providers I called
Them and told
Them to stop sending me messages she told we already stopped why the he’ll did you receive messages,I felt bad ,daily I receive messages target hit target partially hit and I know the truth while trading how these target works it is neve easy
Recently, Youtube channels are coming up with new formula to fetch money:
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Once crossed certain threshold say 3-5 lacs subscribers, they start something like ‘Stock Market Updates’ for 100-150rs/pm.
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Gameplan is to encash subscriber base with minuscule amount which no one thinks before spending.
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Even if 20% of 5 lacs subscribers turn out to be monthly service holders, it’s whopping 1.5 crores /pm! This is COOL income just be making some videos.
But here is is catch: What’s end user getting for all these? They are clearly not giving typical trades, any stock, no specific level. Just a exclusive badge in front of your name. Hahaha what the hell? Only macro level technical analysis which is nothing but a DOGSHIT for traders but a nice PANCAKE for youtuber.
Please beware of such fraudsters!
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Exactly!
SEBI is only busy busting trader’s ass by increasing margins day by day.
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if it is a scam , then why aren’t people reporting it police.
Not a single scam has been reported to police or any news of it on media.
The issue is people are greedy by their own nature. They think someone will teach them how to make money.
Does that not sound absurd to you?. Apparently not for many many people to pay for these courses.
So relax, its not like you are paying for these “courses”. if people want to spend money on these “courses”, let them. Its their money.
if you want to make money this way, you can too. I promise you no one will accuse you of being a scammer.
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Exactly, I don’t get the whole point here. It is the same case for any other things too.
To give an example, the working of schools and colleges or any training instutions are also the same way. Just cause they take a fee and your teacher teaches you Science in College, doesn’t mean he/she is the greatest Scientist/Mathematician in the world. It just means they are willing to provide you a basic structure and help you start out in the field.
Does that mean there are no videos on youtube teaching you science and maths for free?? Ofcourse there are, but when you are starting out from the beginning most people will not have a clue on even which video to search for, or which video to watch next.
So, if a website/institution can take a fee for this and provide you that basic structure at the beginning and tell you the basic stuff atleast that can help you discover more with your interest, then so be it. And, someone who is looking for the same can afford to pay it, i don’t get how it can be called a scam.
If you can understand this before you take up any course, then i think most problems will be solved.
If you are taking a course with Pathfinders or any other institution for that matter thinking someone like Buffet will sit on the other end and teach you about investing or some greatest trader of all time will teach you about candlesticks, then it would be completely our fault.
Mostly amateurs fall for such tricks. People pay price for being greedy. that’s true.
But that doesn’t mean that no one should talk about it & let it happen as it is!
There are thousands of scams going on everywhere not ever reported to police. does it mean that these are ethical?
By all means talk about it. I never said don’t talk about it.
if the scams are going on , then why is not a single person reporting it to SEBI or police? Why is everyone quite then?
I like this discussion. Keep going…
In science class , we don’t need to control emotions, but in stock market emotions play major role in outcome, Emotions is something that can’t be taught into some YT channel or class. It’s needs to exercised over time.
No problem in learning basic structure. I guess student don’t need to shell out hefty amount to learn it unlike many stock market coaches do. Even Rs. 500 book or any website can get us kick started. School /Colleges doesn’t charge haphazard fees to teach us basics. In stock market many gurus are selling so called ‘holy grail’ & charge unrealistic fees. I doubt if we use 20% of whatever we learned so far in daily lives.
Also those classes who shows 100-200% profits in their videos & claims to teach evergreen system must be held accountable if student doesn’t earn on the same lines.
Problem is not with the freebies. As you said newcomers don’t have clue of what to watch , what to subscribe, how does stock market function. These people take advantage of their mental state to tap them into their services for unrealistic fees.
If you don’t think these are scams then get talking to students who feel cheated after attending workshops, classes. People feel that class they attended for 50k is worth 5k. This is reality.
YT channels are designed in such a way they stay out of legal ambit.
- If student makes money by using their systems, they flaunt it
- If student looses money by using their systems, they say ‘It’s market, what can we do’?
are you saying that YT has enabled scammers to scam legally?
so trading is 50/50 then?
Sorry I mean most of YT stock market classes
Question is not whether trading 50/50 but the way these people pose themselves to use stock market as shield for loose practices.
well, they have to justify their course.
The real question is why their own students ask this question to the teachers.
Why do they accept this justification?
if they accept it , then its justified. no?
You might have seen accident happening in front of ur eyes. How many times did you report it to police as a good citizen? And if you don’t, that means you justify that accident.
Yes, But i feel it is very convenient to blame it all on the course instructor or whoever is taking the course. We are just taking the easier way out, cause we don’t want to blame ourselves.
When someone sells anything for a price, it is automatically treated as a business. And you like it or not no business is done for free or with the intention of having a loss. It is always for a profit with an intention to make money.
And, Who decides that it is worth only 3K or 30K??
Treat any course/training instutue like a business and not like an NGO. They will not give it to you for free or for a wholesale price. They will charge you the retail price. Just cause a phone takes around 5K to maunufacture, there is no hard and set rule that he should not sell it for 20K. If no one buys it for 20K, then automatically the price will come down. But, if everyone is willing to pay 20K for it, then there is no reason, that the manufacturer should not benefit from it.
And we are all traders here, i believe. The whole working is like making profit from another person in some or the other way here. If i get stopped out of a stock, or sell a stock at a certain price, and someone buys it from me. And then the stock goes up/ or the buyer made a profit and i made a loss. Doesn’t mean that the buyer scammed me or trading itself is a scam. I was foolish and did not study my strategy/entry and exit points correctly, simple.
Just that some people who had a loss say that trading/investing is a scam, doesn’t make it true always too.
We have to put some effort and be lucky enough to find what we need.
Similarly, when i intend to take a course, it is my responsibility to know what i am expecting from the course, where i should take it and when, if i can afford it and stuff like that.
If i don’t put any effort from my end just take up any random course that i see for any random price and then feel i didn’t get what i needed, it is not the trainer scamming us. I am scamming myself there.
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whoa!! , two totally different things.
ofcourse you would report accidents.
But this is trading. There are no accidents here.
Everything is done willingly here.
Apples and Oranges…
I think you didn’t understand what I am trying to say here! Read once again pl.
Which part did i not understand?
Please make it clear. I may not be so smart.
Also why are you comparing trading to accidents? I don’t understand this.
What does trading have to do with road accidents?
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Whatever you said ia absolutely true. I think I have confused you. This post is not all about blaming each and every instructor out there. but
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Those who shows fake reports in their videos and lure amateurs into it.
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Those who charge 50k for the system which might be worth 5k(Now it is students who decide the cost). I think general consensus is built among group of people and correct price is discovered later on. So yes, in this case too correct prices of classes will be discovered.
Unlike iPhone where we pay 400% premium for the sake of have aspirational value, we do have choices here. -
Those who claims to sell ‘holy grail’.
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Those who claim to make you emotionally disciplined trader.
You can pinpoint some exception here. Unfortunately, most of the classes fall into these categories.
If you don’t believe me, look into other related posts here and other websites too. I have personally experienced these things earlier. Somewhere subscribers are responsible too including me in earlier days. But it’s good that people express their views publicly so that others won’t get cheated or at least make informed decision.
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Yes, I am a subscriber too for this long back and have paid such amounts to start off in the field atleast. Because, i had no clue of where to start. So, i understand the emotion.
I also get your intention of the post and the discussion which is a good one.
But, my problem was with the title and the initial post, which seemed to put all the blame on a generalised term of “Paid Stock Market Classes”. I think we as subscribers have also equal responsibility if not more, when subscribing to such courses, be it good or bad or whether it worked in our favour or not.
If i paid 30K for a course which only taught me the very very basics,but atleast helped start me off in the right path and helped me with a new career for living, then maybe 30K was more than worth it. But, if i take a course even for 3K looking for a holy grail, and don’t get it, then even 3K is not worth it.
So, rather than calling paid courses as scam, most responsibilty would be on us to first know what we want from a course and then try looking for a course which can provide something similar at a price which we can afford to spend.
(This is not a counter point to yours or something completely different from what you are trying to tell, but just wanted to re-iterate it)
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Frankly I am in touch with some volume traders.
Till date the only thing I could learn from them is ‘Do not to teach’.
They never agreed to teach me their secret calculations, typical indicator setting, not even timeframes they use in different scenarios even for good deal. You only ask them some questions. You may or may not get answer.
If they do, they loose their edge & decades of learning. They says even if they do, what about behavioral part? Hopefully they might tell something when they retire unless they have trader ancestors.
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