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Youtube forex scam videos
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Author:  strcat32 [ Sat Jul 11, 2020 3:28 pm ]
Post subject:  Youtube forex scam videos
I've been around long enough to know that having an edge in forex trading is really hard and you can consider yourself lucky shaving off a few percent of the market until the opportunity fades away in a couple of months.

I recently stumbled over this youtube video/channel:
https://www.youtube.com/watch?v=nmffSjdZbWQ

(If you want to watch this video without giving it views/add revenue, watch here:
https://invidio.us/watch?v=nmffSjdZbWQ)

Apparently you can get a 62% winrate with TP being 50% higher than SL with a simple MACD strategy....

This video has half a million views a high approval rating and praising comments. How can everyone be that stupid?
I am pretty sure this channel is scamming people for views and is just make money with videos with impossible strategies. And it seems to work. A ton of people seem to bite.

I honestly considered for a moment making scam youtube videos instead of trading, because this seems to be a goldmine...

PS: I tried to figure out what the trick in the video is. The whole excel sheet seems to be just made up? Or maybe he took 100 trades a few times and this seemed to be an outlier if you choose the right time period? I dunno. Can somebody spot it?
Author:  SteveHopwood [ Sat Jul 11, 2020 7:55 pm ]
Post subject:  Youtube forex scam videos
Leaving aside the fact that backtesting is bollocks (this post explains why viewtopic.php?p=108983#p108983), this post by lemur666 linked to a youtube video explaining how schysters could make their 'systems' look robust by manipulating charts: viewtopic.php?p=168832#p168832

The video has been removed and I do not remember how it is done, but the video showed how, and easily as well.

I might write an EA to test the MACD strategy in the video you linked, just because I am a tad bored at the mo. I will be astonished if it is profitable, but you never know. Besides, it will only take me a few minutes.

:xm: :rocket:
Author:  strcat32 [ Sun Jul 12, 2020 3:02 pm ]
Post subject:  Youtube forex scam videos
SteveHopwood » Sat Jul 11, 2020 8:55 pm wrote:Leaving aside the fact that backtesting is bollocks (this post explains why viewtopic.php?p=108983#p108983),
Hmm thanks for the read. I thought backtesting a short time period back had at least SOME value if you do it correctly, using MT5 and real tickdata etc.
SteveHopwood » Sat Jul 11, 2020 8:55 pm wrote: I might write an EA to test the MACD strategy in the video you linked, just because I am a tad bored at the mo. I will be astonished if it is profitable, but you never know. Besides, it will only take me a few minutes.
Yeah, i would be interested in how much it fails. :lol:
Author:  SteveHopwood [ Sun Jul 12, 2020 7:19 pm ]
Post subject:  Youtube forex scam videos
strcat32 » Sun Jul 12, 2020 3:02 pm wrote:
Hmm thanks for the read. I thought backtesting a short time period back had at least SOME value if you do it correctly, using MT5 and real tickdata etc.
I have no experience of CrapT5, so what I am about to write could be total bollocks. Here goes.

Surely real tickdata files would be so huge that they would swamp most computers? Bear in mind that I do not know if the answer is, "No."

They will still have limited value if they take no note of the swap and spread at the time. Wow.Imagine what that would do to the size of the file. :lol:
Yeah, i would be interested in how much it fails. :lol:
I will write the EA. After all, the trading methodology is soooooo logical. :clap: Like the other 8,000 systems we have tried over the years. :arrrg:

It will be fun to try it, even so.

:xm: :rocket:
Author:  SteveHopwood [ Wed Jul 15, 2020 11:54 am ]
Post subject:  Youtube forex scam videos
I have written the EA. Details at viewtopic.php?p=170748#p170748

:xm: :rocket:
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