These techniques are nothing but a scam travelling through most cities in tamilnadu and bangalore by canvassing over regional TV channels asking the sheep to come and be slaughtered with so much of impunity.
There will be a free seminar or introduction session at a hotel and the cronies keep an eye on for any old or known people who could spoil the show.
There are a few (SENIOR OR PREVIOUSLY CONNED) OR ACCORDING TO THEM TRADERS PROFICIENT WITH THE TECHNIQUES WHO BLATANTLY state that they have made so much money by utilizing the so called techniques that you will be amazed by the way the old traders vouch for these techniques such that the newcomer would be sailing in seventh heaven and feeling bad as to why he had missed attending the seminar's earlier and would be cursing himself for the so called lost money making opportunities missed.
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Next comes the paid seminar where the so called senior traders come in midway through and boast of what he was before and what techniques had turned him or her in to a great trader but none of them show their so called MONEY MAKING TRADING ACCOUNTS . THIS IS NOTHING BUT THE SO CALLED CHAIN LINK MARKETING PUT TO USE.
The so called strategies are freely available over the Internet. The newbie will start to lose money freely following the so called techniques.:annoyed:
You will be told some 6 strategies at each seminar and the list keeps getting longer. The trader would be asked to open an account ( for a company which is canvassed and ).
By the time the trader gets his account and starts to trade, the broker would have made a bundle and one would be told that you would have lost so much if he had follow the techniques properly.:lol:
The best part is you would be guided courteosuly by a broker who keeps track of the newbies and after a few months introduces the newbies to other seminar conducting people and yet another phase in the newbie's search for the hly grail journey starts where he would have to shell out money for classes and softwares.
This is the story of the so called techniques and there are so many people who sometimes call up the channels and curse over the phone as to how they had been tricked but care is taken to cut the calls.
You will also be told that there are numerous people and especially so many ladies who have made so many lakhs and a few of them touch even a crore plus.:clapping:
You are asked to follow up if you are not smart enough to attend refresher courses after 4 months and stating that how can repeat classes be conducted if the techniques were not working and that is when the final nail is hit for the newbie.
The worst part is one is left feeling foolish at how gullible one could get in search of the holy trading grail forget the newbies, even people who claim to have been trading for 1 to 2 years get convinced and pay up and later on when you meet them after a few months would sheepishly state that it was a sham. I happened to meet a person who is a professional and a veteran of over seven years in trading, who claims to have attended most of the so called searching for the holy grail seminars and the fun part is he vouches that none of these teachers have actually made money trading as he knows them on a first name basis, and that most of them hold second jobs to support themselves financially and swears that the so called seminars are a con game organised on the sly.
It has become a fashion to appear on the regional TV and bash other advisory companies and seminar conductors that if one could just record or download some of the sessions on TV, it would happen to be a great script for a trading comedy show.
It takes great discipline and lots of research, knowledge etc, to become a trader and most senior traders would agree that there is no holy grail except hard work, patience of atleast 2 to 3 years to start making money, but if one learnt the techniques you are told that you woul make money 16 out of 20 trading days.
I have nothing against these people, but it hurts to see that so many people blindly follow the so called TRADE GURU's advertisements and the MOST PAINFUL THING IS THE STRATEGY EMPLOYED BY PAYING OFF THE SENIOR TRADERS WHO SO FAITHFULLY TURN OUT AND DO WORD OF MOUTH CANVASSING OF THEIR SUCCESSES, which makes the newbie pay for the classes to get to hear the holy grail techniques.
I am extremel thankful to these people for making me lose just one seminar fees and have no regrets as according to some people it is the tuition fee spent to enter the markets.
IT would be heartening to see if someone took notice and put a stop to such shams that when the leading exchanges are trying to make the investors aware in the right sense, these people are shooing away new investors through such tricks.