How to Spot Trade Scams

By Timothy Sykes

Last updated on October 31, 2022
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I see it every day…

Folks shaking their heads in frustration.

They listened to bozos like Jim Cramer…picked up Meta Platforms Inc. (NASDAQ: META)…right before it plunged on earnings.

Would you take investment advice from this guy?

Now, they’re left holding the bag while he keeps getting paid to reel in more victims.

I can’t make you a good investor.

But I CAN help you become a GREAT TRADER.

I’ve got 20+ millionaire students, and I’m just getting started.

Do you know why I post every trade I take right here on Profitly for anyone to see, whether you’re my student or not?

Because there are tons of scammers out there, many operating right there out in the open.

That’s just one of the many reasons folks take my Millionaire Challenge.

They see that what I teach is the REAL DEAL!

Unfortunately, many of them get hustled before they land on my doorstep.

The good news is if you’re reading this, then it’s not too late.

Give me five minutes of your time, and I’ll show you how to spot scam traders in a hot second.

Because even if you never take my Challenge, and I hope you do sign up, there’s no reason you should get fleeced by some grifter.

Everyone Loses Once

© Millionaire Media, LLC

At the time of writing this blog post, my year-to-date profits stood at $124,909.82.

Check out every trade I’ve made right here.

Search for ‘stocks’ or ‘stock market’ on any social media platform and you’ll quickly find posts on this or that trader highlighting their big wins.

But if you look deeper, many of them ONLY show big wins.

Here’s one of my losses from the other day.

If someone never posts their losses, you have every right to ask them to show you their full trade list.

See how many actually send it over.

Only So Many Winners

top penny stocks list September 13, 2021 Tim Sykes drinks coffee in Positano Italy working on Mindset Master
© Millionaire Media, LLC

My win rate is roughly 77%, which is pretty darn high.

Jack Kellogg, my Millionaire Challenge student who surpassed $10 million in trading profits at just 24 years old, only wins around 61.5% of his trades.

The highest win rate I’ve heard of is around 90%. And that’s exceptionally rare, and I’d argue, unsustainable.

Successful traders with win rates at the higher end tend to top out around 75% or so.

I would be suspicious if you see anyone with a win rate over 80%.

I’m not saying there aren’t traders who can or don’t win 90% of the time. But they are VERY RARE.

Unclear Strategy

Anyone who claims they can teach you how to trade should be able to explain their strategy.

I help my students design their own. My trading style exploits promoters and uses their games to turn a profit, combined with some technical analysis and Level 2 data reading.

However, let’s be real. Someone can be an incredible trader with millions in earnings. But if they can’t explain their strategy, how are they going to help you become a better trader?

They’re on Financial Cable T.V.

© Millionaire Media, LLC

Not everyone who shows up on television is a charlatan.

Heck, I’ve made plenty of appearances on different programs over the years.

But quite honestly, anyone like Cramer or who has a regular bit on CNBC isn’t going to be able to teach you how to invest, let alone trade.

They’re getting paid by the network to entertain folks and bring in viewers for advertisers. Whether they make you a better trader or investor is an afterthought.

What Do You Get For The Money?

My Millionaire Challenge includes thousands of hours of content from videos to DVDs to daily commentary and blog posts.

You should get what you pay for.

If someone only posts one trade idea per week with thin educational videos that you could find on YouTube, then the price should match.

A Word About Trading Real Money

Not everyone out there trades real money. That doesn’t automatically mean they’re a scammer.

There are many reasons, legal and otherwise, why a trader or mentor doesn’t trade real money.

You need to decide whether it’s important to you or not.

Plus, not everyone who teaches trades.

Tim Bohen is a great example of someone who was a successful trader in the past.

Now, he focuses almost exclusively on teaching and mentoring traders.

You can even check out his free YouTube Livestream on Mondays at 8:30 a.m. EST.

Parting Thoughts

candlestick reversal pattern examples
© Millionaire Media, LLC

There are a lot of folks out there who are more than willing to take your money.

I’ve met tons of ‘wealth advisors’ at major banks who don’t know squat and are all too happy to take your money.

I’m sure you’ve seen folks on Twitter who sell their trading ideas that turn out to be duds.

I’ve also met legitimate teachers who help people become successful traders.

At the end of the day, only you can decide whether someone is trying to pocket your money or truly help you.

I believe in what I teach and I know it works because I have 20+ millionaire students to prove it.

But don’t take my word for it.

See for yourself if it’s right for you.

—Tim

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Comments (1)
Author imageTimothy Sykes
Hey Everyone,

As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

Which is why I've launched my Trading Challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

So when you get a chance make sure you check it out.

PS: Don’t forget to check out my 30 Day Bootcamp, it will teach you everything you need to know about trading.

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