Insta-SCAM: 'Get rich quick' Instagram trader, 20, 'empties accounts of more than 1,000 investors

[b00merang69]

That is the way the world today has gone (down the pan) a lot of kids think they can copy him or be a Twitch Gamert?YouTube4r and get rich fast and easy.

At his age I was a few years into my apprenticeship.

Sure some get in early enough and have made a lot of money some may manage to hang on to it other will blow it and some will end up with mental health issues and possibly dead.

 

[StriderX]

That is the way the world today has gone (down the pan) a lot of kids think they can copy him or be a Twitch Gamert?YouTube4r and get rich fast and easy.

At his age I was a few years into my apprenticeship.

Sure some get in early enough and have made a lot of money some may manage to hang on to it other will blow it and some will end up with mental health issues and possibly dead.

Oh deary.

This is the entirely natural course of a society bred on rampant consumerism, zero community and no cultural identity. This didn't just pop into existence either, it's a slow process and blaming the 'kids' is farcical.

Our society revolves around pretending to be happy, no surprise that it's now pretending not to know why that's the case.

The fact that the BBC, arguably the last remaining moral authority with how pervasive it is in people's lives, has just advertised this lifestyle with gross abandon should highlight how rotten this country is, why even bother trying to hold down a family or becoming a poet, artist, engineer or scientist when you can just sit on your ass all day shifting money from box A to box B like the rest of the elite Londonians or home county establishment does?

It's a bit like if the Christian Church got up one day and advertised the fact that you could violently abuse your neighbour all you want with no risk to your apparent place in heaven, then the faithful oblige, then totally obviously the abused neighbour's wishes to cast judgement upon them and not the church for advertising as such. It really is hopeless.

 

[b00merang69]

Wonder what tosh one of ignored members is spouting after my above post (need to make sure I never log out).

 

[muon]

In terms of copy trading. Aren't there loads of regulated methods of doing this? Etoro advertise it all the time.

Guy was a moron for using some unregulated broker.

The only way the values were fluctuating so much from positive to negative and then zero, is if they were basically options trades.

A lot of stupid people for investing in someone who obviously initially just got lucky on a few trades.

You also get this in the crypto world.

 

[dowie]

The fact that the BBC, arguably the last remaining moral authority with how pervasive it is in people's lives, has just advertised this lifestyle with gross abandon should highlight how rotten this country is, why even bother trying to hold down a family or becoming a poet, artist, engineer or scientist when you can just sit on your ass all day shifting money from box A to box B like the rest of the elite Londonians or home county establishment does?

That probably not what he's doing though - it's more like he's engaged in marketing/selling some service and/or referrals.

As for shifting money around - it's pretty fundamental to our economy, ditto to the other parts to the city that shift paper around to argue over intangible things people own/dispute etc.. or the insurance people who take bets on various events etc..

Wonder what tosh one of ignored members is spouting after my above post (need to make sure I never log out).

It was StriderX, though if you feel the need to comment when someone you're ignoring has posted then you're not doing it right...

A lot of stupid people for investing in someone who obviously initially just got lucky on a few trades.

This is ref the story in the OP - he didn't necessarily even do that tbh... if he's making his money from referrals etc.. then he might well have been (and probably was) a net loser (in terms of trading pnl) before he scammed anyone.

 

[b00merang69]

@dowie, I was being sarcastic, i can see his name by hovering over the "Show Ignore Content" part.

 

[BowdonUK]

Sadly a lot of people who end up getting ripped off are greedy.

That's not an excuse to go around ripping people off.

But the lessen is don't be greedy. Be happy with what you have.

 

[Psycho Sonny]

Here we go - another media story about some random young kid with no financial experience supposedly making lots of money through "trading" - I have no idea who this person is but I'm going to assume it's very likely BS and I'd really not be surprised if he's somehow involved in affiliate marketing or selling advice etc..

https://www.bbc.co.uk/bbcthree/article/2b3f3f67-2338-4253-b7f5-a36192885492



Why do these "journalists" keep on promoting this sort of stuff seemingly without doing any basic fact checking?

what evidence do you have to suggest he isn't making money through trading?

there's an asian kid who makes $4 million dollars a year by shorting stocks. watched a youtube video on him a whole back.

so this kid making £200K a year is easily believable.

you don't need any financial experience to make money through trading. in fact most are self taught. they just draw lines on graphs and follow trading theories. the lines tell them when to buy and sell.

 

[dowie]

what evidence do you have to suggest he isn't making money through trading?

there's an asian kid who makes $4 million dollars a year by shorting stocks. watched a youtube video on him a whole back.

so this kid making £200K a year is easily believable.

you don't need any financial experience to make money through trading. in fact most are self taught. they just draw lines on graphs and follow trading theories. the lines tell them when to buy and sell.

What evidence do you have that he is? A quick google shows his website where he’s selling some subscription service, I’d assume he’s making money from referrals too. I doubt the BBC jouranalist even queried that - in fact that aspect of his business isn’t even mentioned in the article.

Just because someone claims something on Instagram/ YouTube etc... doesn’t make it true - especially when the claim is highly unlikely and there is a much more plausible explanation.

If you were genuinely making money consistently via these retail fx “brokers” then you’d be much better off trading in a real market via a proper ECN or via FX futures and potentially getting funded etc... Given he started from scratch it suggests some short term/intra day strategy - if that were the case then he’d be leaving a small fortune on the table by trading with some retail firm.

The idea that you’d want to sell your edge for a monthly subscription just isn’t too plausible and strongly suggests there isn’t anything there on the fist place.