P/L Statement

10/1/20

Everyone who claims to make so much money from their stock or Forex trading also happens to be asking you for money by selling something. They advertise they have financial freedom, make money, etc., but they're buying ads on Facebook to target people to buy their services and products? Total coincidence, I'm sure. For the month of 9/2020, I responded to every Facebook trader ad I came across in my Facebook feed with this

Simple question, have verified audited P/L statement?

Any response to this question that is not a verified audited Profit/Loss statement (which can obviously have personal address and account number redacted) is a strong indication they are complete bullshitters. I also reported them as "Misleading or Scam" to Facebook.

It amazes me they have the nerve to go on and on about "86% winning trades", "quadruple your money in 60 days" (nevermind that this claim means $1,000 in January becomes $4,000,000 by next January), and "our members are profitable", but when asked for actual evidence of their claims, instead of using this time to shine, they type nonsense trying to save their face and actively avoid providing the requested evidence.

I will share some of the responses I received to my question

-I have no idea if Michael shares his P/L, but the trade trackers are all available in the course. What I can tell you is that his method and trades have made my trading EXTREMELY profitable, especially compared to what I was doing before finding his service. I will unquestionably be a member for life. Don't let waiting on audited financials stop you from everything you get for a risk-free $100 and make a decision from there to continue with the service or not. [This response is just unverified testimonial marketing bullshit. -Justin]

-The results have been great. I get nothing out of saying you should try it, so give it a shot or don't, really doesn't matter to me, but I can tell you that you're leaving money on the table by not. [The same "results" and "money" he apparently doesn't want to prove actually exist? -Justin]

-Hi, please send us an email and we'll provide you with all the details. [They tried more marketing tactics, and still didn't provide what was requested. -Justin]

-We have nothing to prove, but we do have customer testimonials we'd be happy to provide. [There's nothing you can prove from that, except that your trading is not as good as you claim it to be. -Justin]

-I use this and kill it...so does everyone else that uses it. [But they just can't prove it? -Justin]

-His ebooks contain his brokerage statements for proof. [They didn't. Just edited screenshots of trading software and claimed copy of tax form he filled out showing profits. -Justin]

-Yes, go ahead and check it out at [website redacted]. [What was on webpage is not an official P/L statement. -Justin]

-We've won [trading contest name redacted], look it up. [Great, but wouldn't you then have an official P/L statement? Also, trading contest accounts do not necessarily represent all the trading accounts by said person. -Justin]

You get the idea.

I encourage you to respond to stock and Forex traders who are trying to sell you something, with the following

Simple question, have verified audited P/L statement?

They won't provide this evidence, because then the scam is over. The scam is that they are pretending to be profitable from their actual trading, but instead they make their money from selling "education", newsletter subscriptions, trading signals services, selling trading software, are not profitable from their actual trading, and most traders, including any subscribers they may have, are not profitable because trading is risky as hell.

Thanks for reading.


Regarding investing: I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions.

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