Forex Trading is a SCAM 🚨 👀 Learn about FOREX SCAMS

Forex traders are fraud victims. I know
that this video is going to be a little bit controversial but I’m here not to
help everyone but to help those people who have good intentions and who want to
invest in themselves to further their own education, that way they can improve
their lives and I can tell you that I have never met a profitable forex trader. And that should be relatively substantial because I graduated from an
Ivy League university and I worked on Wall Street and completed billions of
dollars worth of transactions. Here’s a pitch book when we sold Metals USA to
Apollo which is a private equity firm and this deal closed for $880 Million dollars. I worked at Morgan Stanley, CIBC World Markets a few M&A boutiques and I can tell you that you are welcome to
disregard the message I’m telling you if you want to try to turn $5,000 into $5
million but I have never met a profitable forex trader now there are a
few caveats to that. the forex industry it’s ripe with fraud because
you have a substantial counterparty risk meaning because forex is relatively unregulated you can then go and start up a bullshit
exchange like the guys like from Meir Barak or some of the other ones and you
will lose all your money I mean you’ve seen this happen with a lot of the BS
exchanges with like crypto currency / cryptocurrency and and other things where there was
liquidity crunch and people could not take all their money out. And this
happens quite frequently with some of the fly-by-night exchanges that are
opened up in like the Canary Islands etc But I can tell you that you have no
statistical advantage in trading Forex and not only will you not turn $5,000
into five million dollars but you will lose all of your money especially
because there’s substantial leverage and yes I know that leverage works on both
ends but I can tell you again I’ve never met a profitable forex trader and all of
these people who claim to make money by using technical analysis and by trading
Forex they are fake gurus they trade simulators they do not post legitimate
training statements they don’t show you live screen recordings from
inside their account that shows all their filled transactions. And yeah I mean
that’s about it if I traded Forex I would go bankrupt I mean look
same thing with day trading if I day trade it I would lose all my money if I
swing traded I would lose all my money there’s nothing special about me it’s
just that what I teach my strategy and the discipline that I have developed
enables me to be a profitable trader and if I traded forex I would lose money. But I know that a lot of people are not
going to listen to me so I just want to tell you that if you do decide to trade
Forex I highly recommend that you use a legitimate broker you can use
interactive brokers Also it should tell you something that a lot of
the legitimate brokers like eTrade thinkorswim, Schwab, Fidelity I don’t think that they offer forex trading and
the reason is that almost everyone who trades forex loses their money I do know
that interactive brokers does permit forex trading and interactive brokers is
a legitimate broker so if you want to just dabble in forex trading
and you don’t want to take the counterparty risk of not being able to
take your your money out then I would highly recommend not trading Forex at
all but if you do decide to disregard my advice and you can trade with
interactive brokers you definitely don’t want to open up a account with one of
these fly-by-night brokerages because once you deposit your money into that
there’s a high probability that you’re not going to get any of your money back.
So again I’ve never met a profitable currency trader and all these people who
trade and claim that they’ve been able to turn like five thousand dollars into
five million they’re frauds and they’re scam artists the only way that you can
be successful and the only way that you can be successful make consistent
profits in the stock market is by selling option premium and that’s pretty
much it. If you don’t like my style then that’s totally cool you can learn from
tastytrade. I’m a better trader in my opinion then tastytrade I believe that
my returns are much better mostly because they tell you to trade often and
they sell premium indiscriminately predicated upon high implied volatility.
I don’t agree with that I think that there are A+ opportunities and B
opportunities and C opportunities and even if a C opportunity has a high
implied volatility then it doesn’t make sense for you to trade that and
disregard your perception of that opportunity solely based upon that
particular underlying having high implied volatility. But hey if you want
to learn from tastytrade that’s totally cool. Selling option premium is the only way that you’re gonna make consistent money
in the stock market. Currency traders they don’t make good students because
you guys are looking to make like 300% a year. For selling options, if
you want to earn consistent money, you’re going to earn around 30% to 60%
every single year. If you want to be consistently profitable
as opposed to being poor then you need realistic expectations you need to put
the work in you need to practice your craft you need to be methodical and
fanatical about improving and if you can do that then you will learn a legitimate
skill that you can monetize and utilize in order to make money in the future. But
if you want to day trade or swing trade or trade Forex then you’re going to lose
all your money and you’re going to waste your time. So again this is David Jaffee
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