The trading/investment gurus in Singapore have been in a high demand in the recent years. They have continued to sweep the markets and making money conducting over-priced courses rather than profiting from their actual trading.
Thanks to modern telecommunications, the guru manias spring up faster now than they did decades ago. Even intelligent and educated traders follow market gurus, like staunch devotees of the Doomsday Cult in Japan
I would like to share with you the market truth, and urge you to think twice, before putting your signature on the enrollment form.
There has been a high percentage of guru followers in the markets since the time financial markets started, and these people worship their equivalent of a semi-god… Until the bubble has burst, then they will find another super star guru to worship.
For newbie, investing and trading seem complex and mysterious. This type of Gurus likes to perpetuate this myth so you’ll enroll in their “Superstar” courses at ultra-high prices. They want you to believe that there is a super-magic formula to “trade like the pros in the banks”. This is not true! The real professionals in the banks trade with simple trend and momentum trading systems with sensible money management skills.
These Magic Formula Gurus usually charges you super high prices to trade with them, high fees for newsletters, and produced endless flows of theories. They are so good at motivating the audiences that created a group of followers.
Ironically, these followers themselves are not making any real money. Some even become their freelance salesman in hope to learn more from the gurus. I know of one such guru who organize a trading trip to Bali, and guess what? Almost 90% of the followers busted their trading account!!
Traders are always looking out for a cutting-edge trading tools or better methods over others. They are like medieval knights shopping for new weapons or armor to kill the monster
Many such Gurus make use of marketing hype to make unrealistic promises to lure the greed in their audiences. I have personally known of one such Forex Guru who over-hypes his credentials. He even claims to trade for the banks and coach professional traders in SGX. In the actual fact, he is just an order taker for a brokerage house and used to voluntarily coached retail traders in SGX. Their seminars are usually very impressive and convincing. They may even engage a Caucasian (Ang Moh) to motivate the audiences.