The Trading Guru and His Money-Losing Disciples
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- เผยแพร่เมื่อ 13 พ.ค. 2024
- IM Academy was a global phenomenon, claiming it could make anyone a top trader. Its founder, Chris Terry, a self-made trader turned multimillionaire who flaunted luxury cars, private jets and apartments across continents, said IM was more than just a path to financial freedom. It was a worldview. While Terry has made millions, 94% of IM's members lose money. Now, the company is under investigation.
Read more about the IM Academy saga on Bloomberg:
www.bloomberg.com/news/featur...
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Read More on Bloomberg: "How the ‘Harvard of Trading’ Ruined Thousands of Young People’s Lives": www.bloomberg.com/news/features/2024-05-14/the-stock-market-multilevel-marketing-company-for-teens?srnd=fixed-income?
Better heading- The trading €hristian priest and his money loosing deciples
This is a pyramid scheme to have me sign up and pay for Bloomberg.
I'd like to read this but I can't afford a Bloomberg subscription.
I started buying some more stocks at the beginning of the year, but nothing big. Why am I treating this so harshly? I still want to be the first person in my polygamous family to make a million dollars despite the fact that others in my field make six figures per person. I am well aware of the costs associated with working more to get more money.
If the market has taught me anything, it's that it usually makes a comeback, but I can't seem to concentrate on the long term, especially because important things like my retirement and my reserve are having a disastrous impact on inflation. I need a solution and a data trajectory that I can trust as soon as it is practicable.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Appreciate this recommendation, hopefully I can get some insight to where the market is headed and strategies to beat the downtrend with when I hear back from Melissa.
Man these trading gurus are blowing up everywhere.
Just insane to see how people still fall for them.
Anybody who cannot show their trades doesn't know how to trade....simple as that.....
People are desperate
Democratising access to finance - especially things like forex trading - was a mistake. Most people just aren't smart enough to get involved with it and not get ripped off by sharks like this. We need a more paternalistic attitude for the masses.
It’s because of their referral programs. I know boomers who are very capable business owners get pulled in by their business partners, and boomers don’t live on the internet like millennials and zoomers so they don’t really know how prevalent these kind of scams are.
Same as religion really. I mean when it comes to "touring" evangelists and televangelists some of them are making absolute fortunes. Same deal, pray on the gullible.
1:47 "I'm literally the most humblest person in the world"
ROFL 🤣
My greatest asset is my exceptional humility
I came here to check here if he really said that or if I misheard and the subtitles got it wrong
@@jupiterjones3789 Nope he said it. I think it's a ploy to get smart people to leave. Anyone who is still there clapping after that is ripe for the taking.
@@aluisious I wouldn't overestimate the planning behind that. Although still shocking to me, this isn't uncommon for narcissists.
When you combine a cult of personality with constant hype and shouting, it's clear that it's all nonsense. Yet, the masses will inevitably fall for such schemes. No one is forcing you to give money to them.
hi from televangelists
Same with Trump voters. The world is full of naïve and easily influenced people... and they're sadly taken advantage of...
Donald Trump says hi
@@lm_b5080it's the religious mindset
That's because most people know nothing about trading or investment and are incredibly lazy
I think the following quote: "in a gold rush, sell shovels." summarises the whole video.
Please elaborate because that quote is never used in that context.
“Easier to talk about it then actually doing it”
In a gold rush, open a brothel, miner’s only need one shovel.
@@zacharywissinger3996 yeah, that's a very thoughtful analysis. It reminds me of the gold rush that took place in Brazil "cerra pelada" there was a brothel. Haha, you're spot on!!
@@stachowi yeah. People let their emotions get them making their logic reasoning shut down or something. If one held the blueprint for wealth why on earth would they sell it? 😉
> make anyone a top trader
> by copying and pasting signals
She even said she was “desperate” NEVER trade while desperate. You’ll make bad decisions and lose it all
IM not joining that, thanks.
It's only $250 a month bro
@@carlnadela2649😂you can trade your 250 lol
I joined it. It was weirdly the worst and best decision of my life
IM with you on that decision!
IM joining again if I get 50% discount offer in my email
They are nothing but marketing Scammers
Everyone’s trying to “get rich quick” nowadays. They will eventually learn that there is no easy way. You gotta put in the work, learn, and grow. That’s how you get rich
Unfortunately will learn hardest way
We should teach classes in schools about cults. personality cults, pyramid schemes and other scams.
How does anyone over 12 fall for this? 2 seconds in and it just sound like a deliberate caricature of scammers
yep. anyone falling for this , will fall for anything, and is beyond help
If you ever come across a guy in a fancy suit and smooth talking, RUNAWAY.
Just remember, if somebody knows the secret to making money why would they teach you that?
To make money off course 😉
Donald Trump learned from his dad, Robert Kiyosaki learned from R Buckminster Fuller, Warren Buffett learned from Benjamin Franklin, etc.. There are many people who will teach you to be rich, some are genuine and others are scammers. Pick and choose your teachers wisely.
@@bbb_888the only thing Donald Duck Orange Man learned is how to lose $
@@bbb_888 Trump inherited his wealth so did Buffet. Kiyosaki is not even invested in MLM.
@@lug.5329 But you need some financial education to maintain and grow the inheritance. Thus where would you go to learn that??
They didnt lose money to gurus. The lost money to greed.
Greed was replaced by desperation and manipulation. It's a cult.
Most people do not have the discipline and mind set to trade the markets....Same with business 90% of all business's fail....same with trading.....pushing buttons is reserved for a few people who can do it successful over time. And on top of that everything you see out there to help you learn to trade will do the exact opposite and that is all done on purpose. Very few people would ever share something with others that made them money. To give an example, I've sold over 5,000 of my trading courses, making me over 2.5 million dollars and making me probably the most popular seller in the world. And yet all that really happened from that is that all 5,000 never told anybody about it not wanting anyone to know and I was gang stalked for over 3 years for teaching people. On top of that I was told that since I will not listen to them and stop teaching people that they are going to put me into prison in the USA. So I made an emergency move out of the USA and have lived out of the USA since, over 8 years now. Nothing is as it seems, the world is a thousand times worse than you ever imagined or fathomed before. And the truth is far stranger than any fiction out there.....
I don't think that's fair. Have you ever worked a terrible job and dreamt of escape? Maybe some are greedy. But I think it's too harsh to make a sweeping judgment like that.
They are not greedy. They are desperate and naive
desperation. i can see here in africa how many people fall so easily for such things..
My dividend journey began when I realized that two particular expenses in my budget were always going to go up and never go down. The two expenses were taxes and insurance. I realized that the dramatic rise in both will need some added income. So, I started buying shares paying dividends. I can now see that this will be the path I need to take to make sure those two expenses will not overtake my future income.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions. Consider a similar approach.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Just research the name Angela Lynn Shilling. You’d find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
I’m mind blown by how pple aren’t willing to put in their own time and actually learn the skills
The fact that people still fall for this is gutt smacking.
A sucker is born every day
$250 a month!? Jesus Christ.
Closer to 315 since it was in pounds.
Could slap that into itm sqqq puts and glean 20% a year at least😆
Learn to trade by reading books, watching videos, talking to real traders and putting in the screen time with the charts. Start small and take your time to learn it. No need to join a network marketing company to trade
Most of the people who join these groups arent the smarterst of the bunch. They couldn't really understand how it works so joining a group make them feel they are doing it right.
True but most people are to lazy to do that
@@icetrip2417 Yeah. And by being lazy they are missing out on a lot.
took me almost 4 years to trade profitably, not easy
@@shadowwarsshadypeople6299you weren’t using more then enough lol
This is so popular in Costa Rica. It’s tough to see people filled with dreams misled by large personalities.
Who are the big shots in CR?
Who are the big shots in CR?
This happens on such a wide scale with thousands of these small time gurus, heck there’s even one in my local town of 20k people that I know through friends. Surprised I haven’t seen the media discuss it more
Lol these guys are rinsing people with these trading groups, making hundreds of thousands per month. It’s ridiculous.
@@LaSombraa Yep, alot of them just work with dodgy brokers such as T4Trade who subtly steal money from people who trade with them and then give the person who referred that client a couple hundred dollars.
So essentially these gurus are just salesmen for dodgy brokerages that steal your money.
Their incentive is to get you to sign up and trade doesn't matter whether you make money or not (which you won't).
what makes him a gurus if he’s not losing people money then why does it matter
Wow half a billion in sales, and never heard of these scammers. The lure of easy money will never end.
True I never heard of them
"Muted chat is muted money." I remember that...glad it's coming to light.
This is full circle. I was in IM academy in 2020. Once things started to smell fishy when the answers I got from team leaders were very vague, I left. I was in there for about 3 months or so and called all the people I recruited to leave with me since I didn't want to leave them there. Now, 4 years later I am a fulltime day trader who just got funded and no, I am not with a company I'm in this going solo. I've watched tons of trading videos on TH-cam which are free. Videos like these make me reflect on how toxic that whole environment was, to this day I still meet people that are in that space. To hear how they speak about these Pyramid schemes It's cult-like really. Great video and good to make the public aware about this on-going money hungry, toxic trend.
"fulltime day trader", "watched tons of trading videos on youtube." And he was dumb enough to participate in IM Academy. This guy is just going to continue to lose money like 99% of day traders. Get a real job and put your money in ETFs
Was in the same boat in 2019 as a mid-teen- now in Uni going to pursue a finance job
Smart that you could see through the charades of positive MENTAL attitudes lol Those people don't realize how it stops them from thinking. Be critical, ask questions, demand answers, and collect feedback. From what I hear you need to be mature and have great powers of self-control trading stocks. It's not easy to stay disciplined, own mistakes, evaluate risk, protect capital, and strengthen systems. Gotta hand it to you for looking out for those people you recruited. It shows you have great character and are committed to a values economy.
Bro… day trading is suicidal long term…. lol
@@Fj8282haha
Trading is a fools game!
If you lose money trading, why would you recruit loved ones to lose money too?? Makes no sense. Instead, find the root cause of why you lost money and make improvements to yourself.
A simple solution is don't trade unless you want to lose your money and your mind
Documentary is not long enough. We want a 1hour exposé on them
"I'm literally the most humble person in earth"
is the most ironic statement I've ever heard
I feel sorry for the people who can't see through that sort of lies.
remember one thing about investing and trading - if its too good to be true, it actually is!
Oh retail. We never learn.
Shoulda used Hustlers University 🤣
😂
Trading was never designed for anyone. Not everyone can trade.
99% of people who day-trade highly leveraged instruments like FX, or Crypto will lose all of their money. Stick to unleveraged stocks.
ETFs FTW!!!!!!!
lol, he said it best himself...
"You guys are 3 feet from gold, *AT ALL TIMES"*
You'll never get any closer
Just watched one ad about a “course” before watching this video.
Don't believe in any Influencer .
Generational amnesia can occur from the passage of time causing certain events or knowledge such as Dave Ramsey, Bernard Madoff, Jordan Belfort, and Charles Ponzi to fade from collective memory. This video showcases the new generation: the invincibles.
What’s the issue with Dave Ramsey?
Dave Ramsey just says spend less than you earn, and you put him up there with the mount Rushmore of scammers?
@@Skyberg21 As a cult follower, you won't comprehend the Dave Ramsey scheme to manipulate you through religion. You're not supposed to understand; that's the whole point. If you understood, you wouldn't pay him money. Dave knows this.
Anyone selling an opportunity for you to make easy money is scamming you
“Three great forces rule the world: stupidity, fear and greed.”
- Albert Einstein
It's easy to separate a fool and his money .
Great. Thank you
As long as people are addicted to greed you will always have scammers like this.
Guys , Guys ….always take a class in Trading psychology
Lol man trading and trading psychology is all bs it's been proven that trading has a 90% failure rate wake up!
I want all multilevel marketing companies outlawed internationally. The money these cesspools have "stolen" from people throughout the decades is nauseating.
If only these people did not have a cult like mind, they wouldn’t had got paid like this. Usually religious people fall for stuff like this
Pain is the best teacher. Learn return on capital. How much are you risking vs how much you can expect to make. What is your worst case scenario. If you are a novice and have $10,000 cash and have more than $12,500 at risk you will more than likely lose everything at some point. There is a big difference between your capital and your investments. Keep leverage to a minimum. Understand defined and undefined risk. It sounds like people are using way too much leverage combined with undefined risk.
More evidence that we’re living in the golden age for scammers
Master the skill of trading yourself
We need more on this series. IM Mastery Academy has a lot of dark aspects. There is also EVO Global,founded by German Castelo, who was in IM Academy...
A sucker is not a mammoth, he won't ever go extinct
Yt also needs to regulate these trading gurus shame how it has the highest rpm out of all the top contents out there
YT is an accomplice to these scammers - try reporting and pulling down these Crooks and they come back instantly.
It was not a pyramid scheme. It was an MLM that offered a service that was not a viable business. Day trading doesn’t work for 98% of people.
Some people just don't understand leverage. Don't use margin if you don't understand the risks.
Who would've thought joining trash signal groups and blindly following them like sheep instead of learning how the markets actually work would lose you money? If you want to trade and be lazy, prepare to lose it all. The market is unforgiving for lazy, uneducated people. Yes, trading can make you a multimillionaire, but only if you put in the work. Years of experience.
or 3000 hrs in a year
That's why doing lot's of research before you get into something is so important.
The visual effects are really good in this video, i like the comic style.
If they would really show people the reality of trading (upsides, downsides , effort and stress involved ) , close to 99 percent would not dedicate their lives to this craft . It is not for the weak and you're competing against real sharks . Ignorance and greed are poison in every field .
With group think, counter trade the signal. You'll lose less and win more.
it bring back lots of memories
Those online trading guru are scammers!
It's amazing how these people make money from naive, young and enthusiastic people, they take away not just their money, but their time, passion and closed loved ones, it's so freaking evil.
It's hard to find much sympathy for people who seem to work so hard to deny the very blatant reality that they are being conned. I will just say that we have created an ecosystem for these types of scams to thrive by burdening younger generations with untenable debts and costs of living. Scams like these would be much less potent if people felt they could get ahead through traditional means.
I agree with this 10000%
Disagree , this is because of our culture . No amount of money is enough for Americans .
These people throw thousands and thousands at this. Anyone doing this isn’t struggling to eat , they are obsessed with being at the top
“You can’t cheat an honest man.”
Can only hope the scumbags behind these schemes get jail time.
Sandeep Maheshwari of USA or Vikas Bindra of USA. Great.
I'm less than 90 seconds into this video and it already feels like a pyramid scam. It's very culty.
PT Barnum is alive and well! Is this a good time to talk about distribution of wealth?
Never underestimate the stupidity of people in herds.
Wining chances should be around approx 50% even for a random person. What skills do they teach that these ppl manage to sink 96% of times. Just curious
MLM cults are absolutely no different than organized religions.
Most retail traders don’t know what they’re doing…and they don’t want to learn. Fertile ground for these “gurus.”
Oh! It’s everywhere.
In the world of financial trading, it is always traders mistake. If you do not use proper lot size, risk to reward ratio of minimum 1:3, you will get beaten! there is nothing wrong to sell products that are value for money for a commission. The Product and Company should be legit.
The problem is greed and finding the laziest and easiest to get rich. The to pursuit to get simply rich should be classified as a mental disorder. Because the purpose most often is to flaunt it.
That's why he is a Guru, he knows how naive people can be.
If it's so easy to make money, why would they share the secret with the world - nullifying their advantage?
to make more money lol but they just flat out scammers
What is the difference between false pastors and these guys? They booth say the same thing when you're not seeing the rseults of what you put in. One says "its on you" and the other say your "faith isnt strong enough"
Found the salty athiest
94 % lose money and still they are celebrating ?! People are so gullible !
Oh wow!
This barely touches the surface of this company. This could be made into a full 2 hour movie if the proper investigation was done. This video looks like it was a summer intern project.
buy and hold!
I'm surprised that Amway is still around. Someone tried to involve me a quarter of a century ago.
Amway is legit it's not a scam even though it's MLM
And as I’m watching the vid , the mid ad is « vector vest »
I’ve been practicing day trading for about a year now. I made the mistake of going live too early after 6 months of backtesting and lost 2 grand. It unmotivated me for a bit but I got back up on my feet and am still pursuing my goals. Just thought to ask did you have any education to get you where you are today or were you mostly self taught? I’ve been self taught and was wondering if I’m just missing some sort of guidance, thanks
Learn, backrest, refine and then learn backrest refine some more. TH-cam has a wealth of information you'll need, you just have to know how to look for it. It also helps if you have another job asides from trading to reduce the mental burden of your trades and improve your trading psychology. Cheers!
all information you need is on the internet. you don't need any guru, just learn yourself.
One of my smartest friend tried to put me in it, and I was so disappointed to see him deep into this. He didn’t want to talk to me for a year because of this.
There’s another one, they would literally take your phone and make you do some rituals for luck. Lol
They are everywhere.
This is called a pyramid scheme. This is just gambling in disguise.
Well she summed up nicely when IM said only Losers quit. What he actually meant was only Losers join IM. This herd mentality and instant results/ gratification will make a lot of people sorry and poor
1:47 "I am literally the most humblest person in the world"?!?!
I've both heard and used that phrased hundreds of times. However, that is the first time ever I've heard that phrase used unironically. If that isn't a 🚩I don't know what else would convince people to run away!
MLMs may be legal but I have never seen one including the ones you mention make there money from the scheme.
It is insane that people believe that some one can actually teach them how to be a millionaire, If there was a fixed method that everyone would take this course and become one.
Why would the person who is teaching you have this job if he knows how to be a millionaire? The only thing that you can learn are the basics and then develop the strategy and phycology after practice to become successful.
Warn everyone!!!
Trading is the most difficult skill to learn , it's not about strategy it's about mindset, psychology.. its better to learn and take time atleast 5 years ... I have been trading since last 4 years... I reached breakeven... yet to be profitable yet
What's really to blame for this type of 'get rich quick' financial-cult behavior is an economic climate where young people have far less purchasing power than their parents but with the same levels of employment; a climate of financial desperation.
Anyone selling you a "signal" is a liar because if they truly had an insight in what the market would do (even if it was only slightly more accurate than conventional methods) they would keep the insights to themselves and make a fortune trading with their own signals.
If someone is selling a system, they're not making money using the system.
A fool and his money are easily parted.
signals is a scam they buy before u tell u to buy and then dump on u
Yep
Greed is like blood in the water to sharks
Anyone who is a "successful" trader doesn't need to teach you how to trade for a fee.
Thats not true
The technique of attracting ppl to trade, by giving trading tips is there from our grandfather days.. this is just old wine in a new bottle .. I think 🙂