In the common sense, Guru is a teacher and especially an intellectual guide in matters of fundamental concern. Looking for reliable mentor, please, remember that Forex trading isn’t about predicting what happens next. It’s about having system with an edge. Don’t ever trust a teacher without a track record, because usually those traders wish to hide their own failure and continue to provide a second class trading or teaching service. I’m absolutely sure that you will be careful choosing trading Guru, but a few hints to detect scam won’t be waste, for sure.
First of all, beware of “so called” Gurus that tend to post regularly, but all of their setups posted are after the fact.
Meaning the trade is already over and they show that it is a winner if you follow their trading strategy. Anyone can do that by trading on hindsight. There is no value in doing this except to mislead the masses.
Another group of scam Gurus tends to post a number of trading setups.
However, out of all the setups that are posted, only a handful will be winning trades. The rest are losers. When the winning trades are achieved, they will go around posting their winners all over the internet, giving the audience the impression that they are very accurate and suffer no losses. What happens to the losing trades? Well, they hide it and keep silent about it.
The last group of fake Gurus are a little more intelligent compared to the earlier. They behave similarly except for the fact that they do post their losses.
For example, they post 10 trades and only have 3 winners and 7 losers. They will go around showing off their 3 winning trades, but when it comes to the losing ones, probably only 1 out of the 7 will be mentioned. Thus giving the impression that they are being honest and credible. But they forgot we’re not stupid either.
We know that one of the best examples of a trade service verification that checks with the server to ensure that the trader is telling the truth about how they trade is provided by Myfxbook automated analytical tool. You shouldn’t trust anyone offering services that do not provide verified results. Myfxbook has several inbuilt methods to prevent trade manipulation: you can still place a manipulated Myfxbook on the website, but Myfxbook simply flags this, and it’s up to other traders to recognize these flags or not.
Perhaps, I told you enough about the scammers. Now it’s high time to talk about real super-professional traders whose advice will greatly help you to succeed in Forex trading. I’m not going to make you bored and broadcast long time about how to look for the right people; I will simply give you a list of the top-most reliable and trusted trading Gurus. Following those people, you’ll get just the right amount of daily Forex news, insightful analysis, and some enjoyable banter in between.