Back in February I made a post in a Facebook group about a group of traders, that offers you a “service”, which could potentially make you a millionaire in no time. Long story short, they offered to copy their “magnificent” trades for only 30% of commission on profit. So if you make $100, they take $30, and you get the rest. If they loose your 100 bucks, well… Too bad. Looks pretty promising, right? I warned the professionals, but the majority of people were potentially vulnerable. I asked a few questions regarding their trading strategy, why some facts didn’t add up. And boom, they blocked me from their Facebook group.
Long story short – my guts were right. After about 70 days, that account was losing money.
Well, somebody must be pretty mad right now (pointing fingers at the investors) 🙂
And then I came up with an idea.. I should dedicate some money and invest it into PAMM (or RAMM, social trading, etc.) accounts until the end of this year and see what are the results. Maybe it is pretty profitable, if you’re careful enough and spend enough time analyzing the traders? Maybe it’s just a waste of time and money. Next time I’ll try to post all the details about my plan.
See you next time.